Tierion ist a competitor. But it's also different, not decentralized.

I just see that I've made a few mistakes in my post (besides grammar because english is not my language ;-)  )

Especially this sentence needs a "not":

Important is: "Factom does not store the data itself (it's possible I believe but not necessarily the sense)"

There are more, but, howsoever...


Regarding your question:

I see 3 different usecases:

- Payment for Server in a decentralized system
- "Currency" to buy Entry Credits
- Investment (in best case store of value)

There is no special use besides the first two points as a system-currency and without speculation there wouldn't be any difference for those who use Factom and the system itself. But the Investment-aspect is very interesting because differently to a cryptocurrency like Bitcoin, Factoids will be kind of backed. Bitcoin's value is it's function and the trust we have in it. Factoids will be backed through the use of the system, because of FCT-consumption. Differently to Bitcoin the base-value (if we subtract speculation) will be calculable and in some way more objectively.
 

Factom ist the System, Factoid is the "coin". But it's more a license or a "system-currency" if you want.

Factom as a system is something like a recording engine for data in time. Let's say you are a trader and you want to be able to proof that you didn't manipulate your data. So you can hash your trades into Factom, which is like fingerprinting and timestamping it, so you can proof that your data is complete and correct. Or think it bigger: You are a trader for a company. This company connects it's system with Factom and potentially they could record every little step into Factom. You log into your Company-Account and it's recorded, you open a file and it's recorded, you change the file and it's recorded etc.

Important is: Factom does not store the data itself (it's possible I believe but necessarily the sense), just a hash of each file so it's possible to control if data is correct or not, if data is complete or not and so on. And if a company would also record who had access at which time to specific data, manipulations would become a lot more difficult, or loss of data with intention ("ups, we've lost all our data. sorry!"). It would become much more easier to find out who is responsible and also what happened.

Factoids:

For each entry into the system you need Entry Credits. You get Entry Credits if you transact Factoids on an Entry Credit - Address or even better: You buy just the Entry Credits for Dollar (each 1/10 cent) in the (coming) Store, so you don't have to touch any Cryptocurrency. Each Entry Credit is one Entry.


On first sight it may look confusing but it's a very elegant system because it solves a lot of problems at once:

- Factom can be decentralized. Factoids are also the value to pay the participating server.
- User don't need to touch Cryptocurrency (Factoids, Bitcoin etc.). They can order Entry Credits and pay with Dollar, Factoids are transferred on the EC-Address and voila. That's important to avoid regulatory problems for big companies.
- While Factoids are transferable Entry Credits are not. Once a FCT is converted into EC's it's not possible to re-convert it or to transact it. Just to use it.
- While the price of Factoids can be very volatile (which we see on the exchanges) the price for EC's can be (is) stable. The price for FCT's will never have negative impact on the demand.
 


And, what's also ingenious: The value of Factoids will reflect the use of the system. The more it's used, the more Factoids will be converted into EC's --> out of the system (kind of "burned"). So it will be possible to calculate something I call the "base-price" which is needed for a stable supply. If the price would drop below, more Factoids would be consumed than new created. If it goes above, more Factoids will be created than consumed. Speculation will have a great effect (it already has), but it's very likely that the price will always find a base where the number of consumed FCT's will be equal to the 73k new Factoids each month.


At the moment the price reflects speculation, it says something what people believe if they think about future potential of Factom. But there are also some interesting points:

1. It's really mostly speculation (or betting) and it's visible in the Polo-trollboy (just for example) that many did not make enough research to come to own conclusions. I can't say that my conclusions are correct because there is nothing without risks. But I believe that Factom is the project with the biggest potential right now (I think it's potential is bigger than ETH, because I believe to see a lot of risks in ETH while it's already near to 1 billion marketcap - personal opinion of course) and I believe that more and more ppl will learn about Factom and come to similar conclusions.

2. The price-rise of the last 3 months, since Mid-December, is a price correction. Factom was totally undervalued since the ICO and the first months on Poloniex. With other words: If more people would have understood how good this project is to that time, more people would have bought into the ICO. The total supply would be higher which would mean that it would have started with a higher market-cap at lower prices for each Factoid right from it's first day on an exchange. That can be called an opportunity.

And while the price has increased a lot, many people believe it's overbought now. But kind of funny is: The high volume builds strong support. While the total supply is just 8,7 Mio it just needs some days to trade that volume and a lot of profit-takers have already sold. Some not of course but that are obviously strong hands and in for longterm. The dumping was mainly margin trading. I don't believe in the chinese-theory. I know that there were problems and there may have been some arbitrage but I saw the interest rates and that 90% of all loans were demanded. But, it's not even important. Important is it's general potential and in my opinion that's like Bitcoin in 2011.

Thanks! That's really interesting! Everybody who is interested in Factom should read it.

Over the time there were a lot of good news, so Factom got more and more attention. Azure, yuanbaohui, the partnerships in China etc., and Milestone 2 will come soon. And, some days ago there was this information in one article:

„Ethereum founder Vitalik Buterin’s fund Fenbushi was an early investor in Factom.“
http://www.financemagnates.com/cryptocurrency/interview/factom-ceo-blockchain-based-transparent-mortgages-can-restore-trust-in-markets/

And my personal theory is, that this info brought the attention of Ethereum-Margin-Traders to Factom. I watched it the last days, the lending etc. I didn't watch it the time before but I believe that Margin-Trading is the reason for the extremely high volume the last days (it's all-time-high-volume).

It was clearly the reason for the dumping today back to 600k. Nearly no Factoids were left as loans and the interest rate was > 1.5% (which is very high - at the moment 0.1%) for some hours.

If ppl lose coins because it's shorted they should take a look into the mirror. It's their own responsibility. Nobody needs to sell because of that. I don't give much on those up's and down's, I'm in for the longterm. And by the way: >100% in just 1 week. No reason to complain about the price. When I bought my first Factoids I would have never expected to see that high prices so soon.

It's often written about. Until Milestone 3 there will be no inflation. When Milestone 3 will be finished there will be 10% inflation per year (of initial supply), which will be nearly exact 73,000 FCT's per month. At the same time the use of the system will consume Factoids. That means: The more the system is used, the more FCT's will be converted into Entry Credits and that will increase the price - the opposite is also true. Little use of the system would bring pressure on the price.

Seems as if it has some effect on Polo, not on Bittrex so far. In best case we just see a turning point for BTCD.

If you care about the price you should say thank you to Yuanbaohui every day. Most of the time the price was above Polo and the volume as well. And: The huge price rise in december started because of the combination of Azure and Yuanbaohui and Yuanbaohui had more impact on the price.

And: There were times when Yuanbaohui wanted to go up but Polo did not follow and that's visible in the chart(s). That dynamic is too complex to draw simple conclusions out of it.

Plus: Let's say they announce: No more FCT's on Yuanbaohui. What would happen? The price would shoot up? It would be the opposite.

Go on Balances ---> Deposit/Withdrawals ---> [FCT] Factom ---> "Presale Import: 12-word-master Passphrase from Koinify" 

Type in your passphrase.

 

Could be the reason for the increasing price. Most likely it brought some more attention from the ETH-community on Factom. Volume is also ATH. Would also explain why Polo goes that much up while China lags behind. ETH-money is on Polo, zero on Yuanbaohui.

Happy Birthday man!

Sehe jetzt erst, dass der Artikel verändert wurde. Ich schreibe oben ja "Der Hardfork wird morgen stattfinden" und habe mich dann darüber gewundert wie langsam die Blöcke runterrattern. Hatte mir das aber nicht ausgedacht, war ursprünglich wirklich im Artikel wie man in den Kommentaren sehen kann:

Ein paar wichtige Korrekturen:
Etwa aller 17s wird ein neuer Block erzeugt, Block 1.150.000 (der Homestead hard fork block) wird damit etwas am 14.3 erreicht, nicht morgen!

Dieser Hard fork hat nichts mit der “Difficulty-bomb” zu tun, die kommt erst in etwas einen Jahr. Die wird benötigt für den Switch zu Proof of Stake.


Schreibe das eigentlich nur weil ich gerade fragen wollte ob die Blockchain kaputt ist weil die so lahm ist.

Der Hardfork wird morgen stattfinden.

Guter Artikel auf deutsch dazu:


Derzeit ist Ethereum etwa bei Blog 1.090.000. Während beim Bitcoin etwa alle zehn Minuten ein Block auftaucht, produziert Ethereum etwa alle 17 Sekunden neue Blöcke. Die verbleibenden gut 60.000 Blöcke bis zu Block 1.150.000, der Homestead auslöst, werden wohl bis zum 14. März fallen. Mit dem Start von Homestead verlässt Ethereum den experimentellen Frontier-Modus und wird ein Stück erwachsener, wie die Entwickler stolz auf ihrem Blog ankündigen.

http://bitcoinblog.de/2016/03/02/ethereum-geht-mit-homestead-in-phase-2/


Wobei der Artikel schon seit Mitte des Tages online ist und die Blockzahl ist "erst": 1089812
https://etherchain.org

Wenn da alles gut läuft kann der Kurs sicherlich noch etwas steigen, aber je weiter er steigt desto zurückhaltender wird frisches Geld. Ich habe ja eh etwas Bedenken und beobachte daher nur, aber selbst wenn ich momentan investieren wollte würde ich es jetzt eher nicht tun sondern irgendeine Phase abwarten die lange seitwärts oder etwas nach unten läuft damit es berechenbarer ist.

Aber... man weiß es eh nie. ;-)

Speculation is not needed for those who will use the system. If they want to buy 1 Mio EC's it's always the same price in Dollar and they don't need to care about the FCT-price, they don't even need to know about FCT's.

But: Speculation will always play a role and the price won't be stable. It wouldn't even be totally stable without any speculation because of the FCT --> EC - conversion-rate. 

Sometimes your posts seem as if you have to read what you write to know what you think. ;-)



And sometimes a little bit like.......



;-)

I don't care with whom I discuss but if I would be a Neu-Investor I would ask myself why the hell somebody of the team believes that it's needed to hide his identity and use a sockpuppet-account. I also don't agree with your argumentation. In this thread are a lot of fundamental infos about Neucoin - about the tech and it's economy and you can bet everything you have that a lot of those concerns are also in the minds of Neu-Investors and supporters. They don't talk about it because they don't want to be branded as "Fudder" and they don't want to be banned from the official Forum and some maybe don't understand the problems, but your problem is: Those concerns have a base, they are justified and it's visible on the chart. The chart isn't a result of FUD. If that would be the case it also would show nothing but weakness. But the price is a result of fundamental flaws. And that's also the reason why it's not easy or even impossible to address them. With other words: Your claim that there is so much FUD in this Thread and that's the reason why nobody of the team shows up is pretext.

 


Use it for what? I mean, that's the big question, right? What does Neucoin offer? And what justifies the high price? What justified the even much higher ICO-price? The three foundations sitting on billions of Neucoin, which would be > 13 Mio Dollar. At the same time your Investors lost their money, the daily volume is about 1 BTC and on the buyside are 8.334 BTC.

And why? Because everybody who maybe would buy must fear that the team would sell. There is no natural way up because your team needs to distribute. With other words: Even if Neucoin would be a good project regarding the tech (and in my opinion it's not) and even if Neucoin would have something innovative (and in my opinion there is zero innovation) just the monster-inflation and the total lack of distribution avoids all buy-support. And that... will never change. It's a simple conclusion.


And you say that's better than every other alt? All the projects that are working on real innovation and with a healthy distribution and with communities that are not that damn unexperienced like those who write in the Neu-Forum? I don't mean that disrespectful regarding your community but it's what I see if I read there. I see naivety because of a lack of experience and knowledge. And just by the way: How many are there? You say there would be 20-30k new users but there are not more than maybe 10 who are active in the forum... Kind of hard to believe.  



I don't know enough about Ethereum. But what I know is that they are hardworking and even if I'm not so sure that the project will be a success they are delivering and nobody can deny that Ethereum brought already a lot of innovation into Crypto.

I know a lot about Factom. And what I can tell you is this, just the latest news:

iSoftstone - about smart cities: http://www.factom.com/isoftstone-and-factom-announce-a-partnership-to-integrate-blockchain-technology-and-smart-city-solutions/

Ancun, chinese notarization-services: http://www.factom.com/ancun-and-factom-inc-announce-a-mou-for-the-integration-of-blockchain-technology-and-traditional-notarization-services-in-china/

And if you want to see how Paul Snow, the lead-Dev of Factom, communicates and defends Factom against FUD, you can take a look here:

https://letstalkbitcoin.com/forum/post/lets-talk-about-factoms-repeated-lies-and-mistakes-per-cryptonaughts-request?page=2

As you can see he rebuts every single point of somebody I call a Factom-Troll. He and others of his team do the same on reddit. He answers questions everywhere, just one example: Somebody has a question about Factom and a competitor anywhere in the internet and he shows up there and answers the question: http://bitcoin.stackexchange.com/questions/42900/what-are-the-key-differences-between-factom-and-tieron

Or Interviews... from yesterday: http://www.chrisdunn.com/how-factom-is-bringing-digital-currencies-to-business-governments-with-paul-snow/

Some days before he was at the Satoshi-Roundtable... Or take a look at their github: https://github.com/FactomProject/

Constantly working - obviously.

And if you take a look at the exchanges: Constantly > 200 BTC volume (just on Polo, often even more on the chinese exchange and it's on bittrex). My own profit is about x 6 and could be even higher by percentage if I would not constantly buy, also at the current price because I see a lot more potential.


With other words: If you really believe Neucoin has something useful to offer to the community, brings something into crypto that could be called innovative, it should be possible to handle FUD, right?

But it's obviously not. All what the team does is to switch to full PoS. With other words: It's all about hype and price-manipulation and we both know that the real price would be much lower without the buywalls of the team since the beginning. And that was not because of altruism it was to hide the fact that the ICO was totally overvalued. The current price is still totally overvalued. I mean, if we take the real total supply Neucoins marketcap would be at 17 Mio Dollar - after the price has fallen.

So, what does it show? Just greed. Whoever is responsible for Neucoins economically design was blinded by greed, totally naive.




You can talk and talk but if you don't talk about the crucial points, like how to handle the massive inflation and the totally lack of distribution, or just the question what Neucoin has to offer and why people should give money for it, your talking is pretty worthless. And it won't help to recommend a doctor or to give a diagnosis like zoophilia. It's meaningless. You have no arguments. And I can just speak for myself, but what I've said since my first post here became true. It was predictable because of the greed-design. And there is absolutely no way to solve the problem. You guys can manipulate the price a bit or even a bit more, but it won't help. And at (nearly) the same time I bought into Factom, just for example, and at a time when the price was at 0.0004 and because it was under the radar the price even went down to 0.0002 but I still bought. Why? Because there is real potential, real innovation, a serious and professional team and: no hype. Now the price is at 0.0023. I just say that because I can prove that I try my best to come to correct conclusions and it's no rocket science. I avoid projects like Neu and I buy innovation if I see a professional team behind it.

 

Both are Memorandums of Understanding: https://en.wikipedia.org/wiki/Memorandum_of_understanding


iSoftstone: http://www.factom.com/isoftstone-and-factom-announce-a-partnership-to-integrate-blockchain-technology-and-smart-city-solutions/

Ancun: http://www.factom.com/ancun-and-factom-inc-announce-a-mou-for-the-integration-of-blockchain-technology-and-traditional-notarization-services-in-china/


Everybody should have in mind that Factom is right before Milestone 2 of 3, so I believe it's normal that there are not fixed contracts in such an early phase but at the same time it's very promising to see that much interest in Factom even before it's completely finished. And I believe we can expect tangible results, Ancun most likely earlier than iSoftstone.

I have no problem with the site. Maybe your browser?

My impression is that many aren't aware yet that it's a really serious und professional and big project. And I believe to see more potential than in ETH because even if it's kind of complex, it's not that complex like Ethereum und I expect Factom to be much earlier (soon) ready for real use than ETH. And because of the big team that is constantly working on all fronts there are a lot of good signs, like:


"Factom securing blockchain partnerships in China

Factom has been busy during a trip to China this month. Besides setting up a new office in the orient, the Austin Texas-based blockchain services company has also entered into two agreements. One is to provide data integrity services to iSoftStone, which has strategic planning for more than 80 smart cities around the country, and the other with Ancun Zhengxin, a major Chinese notary service."
http://bravenewcoin.com/news/factom-securing-blockchain-partnerships-in-china/


In my opinion the most promising project in Crypto with nearly endless potential, because Factom is like a base that can be used for all kinds of data-management. With other words: They won't sell special books. They sell the the paper. ;-)