Here is an interesting forecast, from here: https://bitcointalk.org/index.php?topic=850070.msg16092497#msg16092497Question: What's the upside potential of Factom?So let's speculate 1 billion entries per month...
i = monthly inflation, 73k FCT
r = FCT to EC conversion rate, $0.001
e = new entries needed per month, 1 billion
(e*r)/i = $13.70 per Factoid...
After M3, at 1 billion new entries per month, factoids need to be priced at least at $13.70 to prevent deflation. Of course people speculating on future use will hodl and add to deflationary pressure.
The main-factor will be the demand of Entry Credits. And besides an increasing attention that already happens and will continue, the market will react on all signs for a high demand in the future. And there are already some indications for that. More between the line, but still... David Johnston said in the interview that potential customers ask if Factom could handle a billion entries per day. And his intention was to explain Factom. I doubt that his intention was to hype the market, otherwise he would use a megaphone. But why should they (potential Customers) ask that?
At a billion per day instead of per month, we get 30 * $ 13.70 = $411.00 per Factoid...Think that's unrealistic? Meet The CAT. https://www.sec.gov/news/statement/stein-statement-open-meeting-cat-042716.htmlhttp://www.pwc.com/us/en/financial-services/regulatory-services/publications/assets/sec-consolidated-audit-trail-2016.pdfhttp://www.debevoise.com/~/media/files/insights/publications/2016/05/20160517b_the_sec_propose_%20the_cat_plan_but_at_what_cost.pdf"The CAT Plan may become the most robust and complicated financial database in the world." "CAT Reporters will be burdened for at least two-and-a-half years with both their existing $1.6 billion annual reporting costs and the $1.7 billion annual costs of reporting to the CAT, according to initial estimates by the SEC. The CAT will also carry a one-time implementation cost estimated at $2.4 billion." SEC Consolidated Audit Trail (CAT) needs Factom.CAT+Factom = $  per Factom... |
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From all my research this is as solid a crypto as they come.
+1 |
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I've said this before and I'll say it again. A connection between Nanex and Factom is the Holy Grail.
Wow, I hadn't heard of Nanex but just did some research and yeah, I 100% agree. But knowing very little about them atm ... You need to read Flash Boys by Michael Lewis to get an understanding of just how much of a mess Wall Street has become. We don't need to time stamp and Factomize Wall Street stock prices, we need to time stamp and Factomize EVERY SINGLE PROPOSED BID AND ASK TRANSACTION. Like....billions per day. https://en.wikipedia.org/wiki/Flash_Boyshttps://www.amazon.com/Flash-Boys-Wall-Street-Revolt-ebook/dp/B00HVJB4VM#nav-subnavIf you don't have time to find and read the whole book, at least read this executive summary / book report of Flash Boys... https://www.theinvestorspodcast.com/wp-content/uploads/2016/01/FlashBoys.pdfThe prime mission for Factom should be cleaning up high frequency trading on Wall Street. Which would require more ECs, and a higher Factoid price, than any of us can imagine. "While Lewis can only estimate the cost to investors of the abuses, he believes it is over $5 billion per year, perhaps as much as $15 billion per year or even higher". I wonder if the Factom team is aware of this idea? Might be worth emailing them. |
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Alexa rank is irrelevant lol. Alexa rank is not traffic rank. Alexa is just tracking people who downloaded the Alexa toolbar and the sites they visit. People who are into SEO and internet marketing, or even crypto-investing are more likely to have the Alexa toolbar installed so crypto-community based projects like list are bound to have a higher ranking just because its visited by lots of crypto-nuts who have the Alexa toolbar installed. It's biased. Factom deals with business who have no reason to install it, so it means very little as a ranking method.
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But....why do Factoids issued at ICO have any value at all in this steady-state scenario? ICO Factoids are not needed for burning to create ECs - that is taken care of by the inflationary Factoids. Thus ICO Factoids are functionally useless.
Well, ICO factoids are fungible with inflationary factoids. So they are the same thing as soon as the inflationary factoids have been created. |
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If you want to follow Factom more closely we recommend following us on: The above channels are were we are most active. Let us not forget this post. Nice. Case closed. I hadn't seen that ... I would say FAR from case closed. The blog has had only 15 entries in all of 2016, and half of these were routine announcements of 100K entries, 500K entries, release of versions 0.3.5/6/7, and announcements of hackathon events sponsored by Factom. The blog entries and the Facebook entries are totally uncoordinated. The YouTube videos (such as they are) get only around 400 views. The twitter feed is ridiculous: 2 (yes, 2) tweets and 7 (yes, 7) followers. Factom is a huge organization ny Cryptocoin standards, listing 24 people on their team:
https://www.factom.com/team/Huh. They've even got somebody that is supposed to be doing "communications". In my opinion, Factom has the absolute worst public relations of any cryptocoin I've ever seen. They have poor public relations to users of the Factom open source protocol - such as factoid holders, but excellent PR for investors in Factom the Company and customers for Factom the company, who are also users of the open source protocol. Some small improvements in communication with us wouldn't hurt but imo their resources are invested the right way round - in getting new customers and developing the technology. |
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Yeah, right, FCT ll reach $10 by Q1 2017. You know how many coins and how many optimistic guesses of this kind I ve seen so far? Dozens.
You know how many of those actually came through? Only one.
ETH.
I wouldn't be surprised, $10 isn't that high and 2017 is quite some time away. x5 in 6 months is the upper end of what I'd expect to see from Factom. |
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I see, so is it "Entry Credits in Factoids" that is the burned factoids? |
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how many factoids have been burned so far?
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Thanks for writing this great resource on Factom, it helped clarify a few points I wasn't sure on.
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How intertwined do you guys think the Factom INC valuation is with FCT as a currency?
they get burned when entries are made Are you sure this always happens? What if someone purchases entry credits with a credit card from the website rather than with factoids, does the factoid supply still decrease? |
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How intertwined do you guys think the Factom INC valuation is with FCT as a currency?
How many entries per month is made by Factom themselves?
Do you think we are getting the short end of the stick as currency investors vs company investors?
You know I don't like how Factom doesn't want to show their currency side their bnktothefuture for example. I think we're the peasants here guys being used to create a distributed network someday. And I don't like how they say they don't care about the price of FCTs. How the F can you say that? Surely this is new territory and FCT is jumping hoops avoiding suits and fines but give me a break guys. We can still compare this to other things, like a CEO of a company telling it's shareholders it doesn't care about the price. By then I'd walk out the door but the thing about cryptocurrencies is that there isn't so many that aren't scams in my view. Like, a lot fall in the category of "possibly scams" thus I don't want to trade nor invest in them.
Anyway I'm beginning to have some doubts about the economic system behind FCT in other words I doubt the team. Will they make me money? The market already has but can the team take it to another level? I don't even know them and it appears like Factom doesn't want us to know them. It's like a wall between us and them.
Anyway I'll stick around to after M2 for sure to see if the community participation may increase in this project. Despite so many question marks, uncertainties and the digestion of information this pussy too good...
I'm no expert but most big successful companies focus on the product and the business side and don't market to investors unless they are raising funds so it makes factom more professional than other cryptos. It's like the opposite of ethereum with huge hype but not much practical business use yet, with factom theres no hype and very useful in business, which is a better investment? It would be nice to have a little more care towards factoid holders but I'm ok with resources being focused on growing the business. The more the business grows the more the factoid supply decreases, so that is taking care of factoid holders. There was something John Snow said in a video that because the factoid supply will start inflating after M3 but also being reduced by the business growing (use of entry credits) that that would cause the factoid price to stabilise a bit. This peeved me as that seems untrue to me and more like a good opportunity for promotion missed. The factoid team simply need to generate more use of their system than the (future) inflation rate for the factoid price to rise. I expect they will massively succeed in this so I expect the price to rise massively too, why John Snow didn't say this I don't know, but it doesn't really matter. There are 27 people on the factoid team and from what I have seen they are high quality folks. |
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Quick question fellow digital token enthusiasts. Wouldn't Factom function perfectly for the recording of wills? I've searched online and can only find one company (blockchain apparatus) that is trying to develop the bitcoin blockchain for such a use. perhaps I'm wrong, but it seems that Factom would be a good fit for this?
Nice idea, hope the team thought of that one too. |
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And a few minutes ago I've started the new video with Tiana Laurence: IDC Q2 2016 S4 Disruptive Infrastructure Solutions
https://www.youtube.com/watch?v=w_gPYSaZAfE&feature=youtu.be&t=15m45sAfter seeing the first minutes I believe it's damn cheap right now. I'm not sure how to interpret something she says there. That's why I won't make guesses here right now. But there is something that is interesting. She says theres 27 people working there. LoL the price right now is a joke. She is also very well spoken an excellent member of the team herself. |
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WOW look at that increase yesterday! :0
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