Another graph (Google trends):





Interesting is also the correlation between Lisk and Yobit. With other words: Lisk helps yobit to get more attention. ;-)

Factom is on BIT.AC:


Multi-currency Wallet BIT.AC Allows Instant Cryptocurrency Exchanges

BIT.AC, a London-based crypto wallet, has a built-in exchange and accommodates 14 different cryptocurrencies. The wallet allows users to instantly convert from one cryptocurrency to another. Currencies include bitcoin, Ethereum, Litecoin, Peercoin, Dash, Monero, Factom, Dogecoin, Vericoin, Namecoin, Clam Project and Vertcoin.

Users can send cryptocurrency over email using the mobile wallet for Android smartphone users.

(...)

http://bitcoinjournal.de/multi-currency-wallet-bit-ac-allows-instant-cryptocurrency-exchanges/


Website: https://bit.ac

It's not a big file. Just click on the Hyperlink in the text for your OS:
https://www.factom.com/howto/factoidpapermill/

And if you should be on Windows it could be that it just opens and closes immediately. You can prevent that by opening the terminal first and dragging the papermill into it --> enter.   

Selling Entry Credits is not the big business yet and I doubt that they sell their own FCT's. But Factom is funded. There was the ICO and seed-fundings and Factom-inc gets also paid for coding solutions for customers. Not sure if that's already a money machine but I believe they already make some money.   

No problem!

What is really great about Factom is this: They have found a way to eliminate the need of any Cryptocurrency (including Factoids) for potential customers, which makes Factom a lot more attractive - before all for bigger companies like banks.

Potentially there are two ways to get Entry Credits:

1. A user can buy Factoids on an exchange and convert them into Entry-Credits himself.
2. A user can buy Entry Credits directly and pay with a Credit-Card or another common way, like bank-transaction.

The advantage of buying Entry Credits directly is:

- no regulatory issues
- more practicable/elegant/direct --> no need to make an account on an exchange, buying Bitcoin before to buy Factoids to convert it etc.)


But it doesn't need to be Factom-inc. they buy from. Potentially you could open a Store and offer EC's. Every time somebody buys Entry Credits, you (or your bot-system) would transact Factoids on the Customers EC-Adress and those Factoids would be out of the system. That's always the same, regardless if the user does it himself or Factom-inc. or you or whoever.

The customer doesn't even need to know about Factoids or any Cryptocurrency to use Factom. Factoids are more like a system-currency to pay those who will run the federated servers, which is also a great incentive that they will do their best to promote Factom to increase volume (use) and value.

That economical concept is what initially got my attention because it's nearly perfect or maybe it is perfect - I don't see any weak points. The base idea about how Factom can be used, for how many purposes, is already great. But it's the economical design which is genius in my opinion, because they've found a way to lower all possible barriers and to keep the system flexible and ready to grow into all kinds of potential use cases at the same time.

With other words: Pretty elegant. If they are able to develop it like it's planned I don't know of any reason why Factom should not become a great success. And I personally have no doubt that they will deliver.

Question is, which Coins the Hacker was able to steal and if he really was the one who dumped or if the dumping (not just Factom) was more out of panic. The thing is: If the Hacker had to make a new account on Poloniex he can't withdrawal large amounts from there:

Level 1 Verification
Daily withdrawal limit $2,000 USD equivalent

Level 2 Verification
Daily withdrawal limit $7,000 USD equivalent

Level 3 Verification
Daily withdrawal limit $25,000 USD equivalent


And if it's not a new account, it would be impossible to hide his identity.

Let's say I know the CEO of a company and he would like to buy Entry Credits directly from me. He gives me money and I transact...

....Factoids to his Entry-Credit-Address ---> those Factoids are "burned"/out of the system.

Every time and regardless where somebody purchases EC's, Factoids will be converted into EC's and out of the system.

Than lowers the total supply and increases the value of all remaining Factoids. On the other side, after Milestone 3, there will be an inflation rate of 10% per year (about 73k FCT's).


The current total supply you can see if you click on a Block:
http://explorer.factom.org

Currently: 8,752,865 FCT's

Started with: 8,759,968 FCT's


Edit: Here you can see that the use of the system is increasing:

Usage Statistics
https://docs.google.com/spreadsheets/d/1RUZLxxoAfT3C5jIJ144DLYdztYe_sqrKqbTlZuD05-s/edit#gid=445871101

Seems to be true:

ShapeShift Update - April 7 Security Breach
https://www.reddit.com/r/shapeshiftio/comments/4dx6k4/shapeshift_update_april_7_security_breach/

Sunday Night Update - ShapeShift Outage
https://www.reddit.com/r/shapeshiftio/comments/4e93ms/sunday_night_update_shapeshift_outage/


Bitcoin/ cryptocurrency exchange ShapeShift offline following hack, company rebuilding platform
http://siliconangle.com/blog/2016/04/11/bitcoin-cryptocurrency-exchange-shapeshift-offline-following-hack-company-rebuilding-platform/

There are 3 Milestones:

M1: Launch/Release of the protocol (done)
M2: Entry-Credit-Store (done), Consensus-Algorithm for the protocol - the software supporting distributed processing of the Factom protocol.
M3: Election protocol - the last step to make Factom to a decentralized system with federated servers under independent control.

In general my advice to everybody in this market is to make deep research about Factom. I know that most of all Investors not really know what Factom is and will be about. So they don't understand the potential of this project. Kind of funny is really that it doesn't seem to be such an eye-catcher like some others. It's as if people focus so much on words that they never ask what is needed as base. And Factom is in the "base-business". Not selling novels but paper and even better: "connected paper" ---> network-effect (https://en.wikipedia.org/wiki/Network_effect).

Who doesn't understand what I'm trying to say with that: Do your research! ;-)  

Yeah, can be frustrating. But I'm really sure that you'll be glad about buying FCT generally in some months, maybe just weeks. In my eyes it's the only project that's an opportunity like Bitcoin was in it's early time - but even better: more predictable and safe than BTC to the time when it was somewhere at a few Dollar. 

Paul Snow has a theory that could be correct. He said in the last interview (I linked it above), that Crypto is bleeding most likely because of tax-bills in April - that many would have to liquidate holdings to pay taxes and that it's a repeating pattern since some years. I don't live in the USA, but asked a friend who lives there and he confirmed that. If I recall it right, he said April 15th is deadline regarding taxes.

So... if that should be true and it looks as if, it's time to buy now. No doubt that it will recover. Nearly at the bottom we had before the last pump and (hopefully) right before Milestone 2.

Cool! Endlich ein Projekt mit relativ vielen Deutschen. Merke dann immer dass es mir doch deutlich leichter fällt sich in der eigenen Sprache präzise auszudrücken.


Max, ich habe da auch gleich eine andere Frage. Ich habe Eure Roadmap bis zum Launch gelesen und bin v.a. froh dass Ihr weitere Security-Maßnahmen ergreifen wollt. Allerdings ist es ja bisher so, dass das zweite Passwort nur gegen 5 Lisk möglich ist was vermutlich bedeutet, es wird erst nach dem Launch möglich sein?

Was ich gut fände wäre, wenn ihr am besten noch vor Launch auch in dem Wallet-Account Google 2FA ermöglichen würdet. Ich fühle mich zwar relativ sicher, gleichzeitig gibt es natürlich kaum eine Möglichkeit sich jemals 100% sicher zu sein, und v.a.: Bei fast 4000 Teilnehmern ist relativ wahrscheinlich das einige der Passwort-Phrasen nicht mehr sicher oder vielleicht schon in anderen Händen sind. Wenn Ihr nen 2FA vor Launch schalten würdet, könnte dass das Risiko minimieren - oder falls tatsächlich ein Hacker schneller gewesen sein sollte und 2FA vor dem wirklichen Besitzer aktivieren sollte um einen Account zu übernehmen, wäre noch Zeit um solche Dinge (hoffentlich) zu regeln.

Insgesamt halte ich 2FA für besser, da Passphrasen in einer von allen möglichen Schadsoftwaren verseuchten Welt nie sicher sind.

This thread really shows that the Neu-team gives a shit about their Investors.

Opened on Feb 10:

********************
Two Factor Authentification (2FA) removed from MyNeuCoin

About a month ago, the Two Factor Authentification (2FA) feature was removed from MyNeuCoin.
We did however keep the feature going for those users who had already set it up before the change.

(...)


********************
First reaction: "That ist a HUGE step backwards, imho."

********************

Second reaction (Heunland) on Feb 12:

"To simplify, as of today 2FA was removed also from those accounts. This means that there is no longer any 2FA functionality on MyNeuCoin and all users can log in using just an email address and a password."

For the benefit of other users who had the 2FA activated before and may now be locked out of their accounts like me, I can confirm that the above statement is not entirely true. At least in my case, after completing login with username and password, I am still being shown the screen prompting for the 2FA code. I have been in contact with tech support about this and the issue has not been resolved as of today.

I agree with @joen above, removing the 2FA is a huge step backward. Reinstating it would immediately solve my problem but I suppose that is not considered a viable option here.

********************

Third reaction (again Heunland) today:

@acorn I hate to keep harping on this but two months since my last comment and several emails to support without answer, and I am still unable to access myneucoin. No help whatsoever from tech support team. All they can tell me is that supposedly they are working on it and noone else has this problem, which of course does not help me recuperate access to my account. I am being asked to enter an OTP token which I cannot provide. I suppose I should just assume I have lost the money I invested in this project.

http://forum.neucoin.org/t/two-factor-authentification-2fa-removed-from-myneucoin/2470/3



My guess is: There is near to or even zero development. They have the ICO-money, the price is down, the project has failed. They won't ever admit that and they will keep on with some posts about the imaginary user-growth (btw., quote Darteous: "The numbers are obviously exaggerated to some degree for the purpose of marketing.") but they do nothing else. They don't even communicate or react on questions. Even that's too much work!

I really feel sorry for those who believed in this but maybe it's time to open the eyes. And I can exactly say what I would do if I would have invested: I would try to form a group out of ppl who are as pissed as I would be and start to make pressure, asking the hard questions. And sure, I know out of own experience that there is always the fear to damage the price with critics, but who still believes that it was FUD that damaged this project should ask: Why don't they have answers, why didn't they react on all the concerns, why didn't they defend their project, why does it seem as if they do !nothing!?

Compare it to other projects with legit and hard working and communicative Teams - very often without any ICO-money.


I would whip them into shape...  

Here is a very interesting talk with Paul Snow, more like an AMA with very good questions and very open answers:

#Blocktalk - CoinFest 2016
https://youtu.be/ucZDDh2ljBw?t=43m36s

In the beginning he explains Factom more in general, but then he also talks about use cases, land titles, medical records, the Milestones, testings, the price of Factoids etc.

For those who are new to Factom, trying to understand what it's about and want a good explanation and overview it's a perfect introduction. For those who already know a lot about Factom it can be still/also very interesting. In my eyes it's one of the most interesting "interviews" (really more like an AMA).

Tiana Laurence at the Blockchain & Bitcoin Africa Conference 3rd & 4th March 2016:

https://www.youtube.com/watch?v=OBnZoZtkoa8

She not just explains Factom in general but also shows some of the Software that will be used for mortgages for example. In the end she answers questions. So it's very interesting!


Edit: Entertaining and very promising is this part at the end:

"Nothing is happening" - "So much is happening, we just can't talk about it and you're such a jerk and I know who you are!" *thumbup*
https://youtu.be/OBnZoZtkoa8?t=37m11s

Etwas Ähnliches gab es bei ETH auch. Es war meiner Erinnerung nach keine Börse die das machte sondern irgendwer hatte sich dick ins ICO gekauft und hat dann einfach nen IOU-ETH-Coin gemacht.

Gefunden:

[ETC] Ethercoin | Redeemable 1:1 for ethers | Official Thread
https://bitcointalk.org/index.php?topic=798031
 

Natürlich sollte man da nicht kaufen. Das ist auch definitiv manipuliert. Eine Börse hat ja noch weit mehr Kontrolle als jemand der, wie bei ETH, nen 1:1 IOU-Coin macht.



Ja, sehe ich auch so.

Ich sehe das etwas anders. Es schadet der Glaubwürdigkeit der betreffenden Börsen, aber damit war es bei Yobit sowieso nie weit her und die andere kenne ich nicht mal. Mit der Glaubwürdigkeit des Projekts hat das nichts zu tun und ich sehe da auch keinen Schaden. Geschädigt werden nur jene sein die tatsächlich zu solchen Preisen kaufen, gleichzeitig denke ich das jeder selbst verantwortlich ist nicht naiv zu handeln sondern nachzudenken und vorher Infos zu recherchieren.

Ehrlich gesagt bin ich sogar noch etwas zynischer: Sollen sie doch nen hohen Preis "festlegen". Der wird zwar einbrechen, aber je höher er ist und je länger sich daran orientiert wird, desto höher ist die Chance das er auch nach Launch noch ziemlich hoch sein könnte - in Relation zum ICO-Preis versteht sich.

Das sowieso. Der Preis war aber nur als Beispiel für's Prinzip gedacht. Das größere Risiko wäre dass Du Deine Lisk überhaupt nicht bekommst. Ich persönlich würde zwar sowas nicht abziehen aber ich würde es eh nicht machen da ich langfristig orientiert bin.

Bezüglich Preis: Mein Beispiel einer Verdopplung ist da echt ziemlich zurückhaltend. Immerhin liegen die Yobit-Lisk momentan bei einer Verfünfzehnfachung zum ICO. Wer da Bitcoin investiert muss ziemlich verrückt sein.

Allerdings muss man auch bedenken das Yobit da momentan die totale Kontrolle hat. Sie sind die einzigen Verkäufer, sie können auf ihrer Exchange machen was sie wollen ohne Fee zu zahlen, sie kontrollieren daher absolut alles.

Important to know is: Just Yobit sells those "Lisk" (Yobit-promises), nobody else. That drives the price. Currently about x15 of the ICO price if I'm right.

Ja. Die traden da nicht wirklich Lisk. Yobit hat offensichtlich während des ICO's gekauft und nun verkaufen sie dort sozusagen Lisk-Assets, also so etwas wie Ansprüche auf Lisk. Jemand kauft 500 "Yobit-Lisks" die er natürlich nicht von Yobit wegtransferieren kann weil es die eigentlich gar nicht gibt, aber nach dem Launch kann Yobit dann aus eigenen Beständen diese Ansprüche in echte Lisks umwandeln.

Das ist schon ein bisschen "shady" aber wurde mit ETH auch gemacht. Und theoretisch kann es ja eh jeder. Du und ich könnten die Vereinbarung treffen dass Du mir z.B. das Doppelte an BTC gibst die ich für meine Lisk's im ICO bezahlt habe und ich gebe Dir meinen Account. Wäre riskant (für Dich), aber natürlich möglich.