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A Roadmap would be helpful
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Folks, my understanding is that M2 is currently just on the testnet and as soon as it has been tested successfully, M2 will be implemented on the main chain. That would be the actually M2 and Factom would announce it again?
Please correct me if Im wrong but did I get this right?
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I presume that it is set by the developers, and because it is a serious change then they want to make sure that most of the network is going to change. If it was just 75% then there could be alot of miners who dont agree and we could end up with 2 bitcoins  Correct me if Im wrong but we only could end up with two bitcoins if we do a hard fork. A split/fork in two bitcoins cant happen with a soft fork, right? |
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Guys, I noticed that some updates like e.g. version 0.12 where CheckLogTimeVerify has been implemented we only needed 75% majority hashing power to activate it if Im not mistaken. Now for version 0.13.1 with SegWit we need 95%. Why is it sometimes 75% and sometimes 95%? Who sets this? Thanks in advance to all  I'm not sure about this as I'm no expert but I guess It has something to do with how big and important the decision is , which means In this case SegWit is way more important and big then CheckLogTimeVerify. Yes, it is much more important but who is deciding it to increase the percentage and to make it harder to activate it? |
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People like Grossbit are just doing this to incite dumps that he buys off you guys for cheap and then just flips it for a small percentage, rinse and repeat. You really need to stop trading this coin and ask yourself if you believe in the project, buy and hold. If not, no one is holding you here. The fact that grossbit is solely glued to this topic shows how involved in Factom he is. If you think he isn't making a killing off idiots who dump to bitcointalk fud, walk away from crypto because you will lose all your money; you need a serious wake up call. Whoever is constantly fud'ing a forum topic obviously has an agenda. We have no superheroes here trying to save us. There are only people trying to sell their bags in crypto or people trying to buy bags, that's it.
True words! Im convinced by Factom and in since the ICO! Looking forward to exciting times! |
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Guys, I noticed that some updates like e.g. version 0.12 where CheckLogTimeVerify has been implemented we only needed 75% majority hashing power to activate it if Im not mistaken. Now for version 0.13.1 with SegWit we need 95%. Why is it sometimes 75% and sometimes 95%? Who sets this? Thanks in advance to all |
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Lets assume a hedge funds would like to buy bitcoins. Which company would they contact?
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I would like to ask again. If you are a hedge fund. Where should you go if you like to buy between 500k-1m USD in bitcoin and who is going to secure it? GDAX? XAPO?
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Well, I think rich people or lets say the rich 10 percent are buying bitcoins. Not in big but they are starting to notice it. I have no evidence for that, its just a feeling.
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Folks,
Im wondering how hedge funds, private funds, rich family offices etc. which are invested in Bitcoin are actually organized.
Are they just buying Global Bitcoin Investment Trust (GBTC)?
Are they using exchanges or custodians like GDAX, XAPO, BTCC etc. to store the Bitcoins?
Are the storing it on her own with e.g. a hardware wallet like Trezor?
Thx for some thoughts!
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Yeah, congrats to the team!!!  |
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Alright, I understand but why is that increasing so much security to a blockchain the proof-of-work concept?
Thank you!!!
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Could somebody please explain why proof of work is adding a lot security to a blockchain like bitcoin?
Thx guys
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I know this has been explained already 1000 times and it is essential to understand Factom but could somebody explain again why Factoids are needed if a company can buy directly Entry Credits to use the Factom Blockchain? Thx in advance You need an incentive for node operators. Because the factoids is a own blockchain and will need after milestone 3 own miner? |
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I know this has been explained already 1000 times and it is essential to understand Factom but could somebody explain again why Factoids are needed if a company can buy directly Entry Credits to use the Factom Blockchain? Thx in advance |
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Blockstream published a post on there website regarding the vault: https://blockstream.com/2016/11/02/covenants-in-elements-alpha.htmlHere is it explained Funds locked by a Moeser-Eyal-Sirer vault are accessible by one of two keys: a hot key, intended to reside on-line, and a cold key that is intended to be kept safely off-line and only used for recovery purposes. Under normal circumstances, the hot key is used to create a transaction that spends coins from the vault, but whether the hot key or the cold key is used, funds spent from the vault must first pass through a time lock that holds the funds for some fixed period of time, for example, 24 hours. The idea being that if a malicious party gets hold of the hot key, they must publicly broadcast this time-locked transaction on the blockchain before they can take ownership of the funds. This gives the vault owner 24-hours to detect that their funds are being moved by a malicious party and recover those funds. This is where the cold key come in.
During the 24-hour time lock period, the script allows the funds to be redirected to another address using the cold key. However, even when the cold key is used to redirect the funds, that transaction must pass through another 24 hour time lock. The cold key can be used to redirect the funds again during this second time lock, and so on. The idea here is that even if the malicious party gets hold of the cold key, they still cannot get access to the funds. The owner and the malicious party can continue to use the cold key to redirect the time locked funds back and forth between addresses. As long as they both remain active the funds will remain caught in this vault loop indefinitely.
A Moeser-Eyal-Sirer vault is composed of two scripts. The first script is the main vault script that locks the funds with the hot and cold keys. The second script contains the 24-hour time lock which allows the cold key to be used to redirect the funds. Because this second script can redirect the funds back to the same 24-hour time locked script, we call this the script the vault loop script. |
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Very nice presentation by David Johnston. I can only recomment to watch it and to think about what the company is capable of. Im in since the ICO and dont care about a price drop. Im only interested in the fundamentals and they are looking amazing! https://www.youtube.com/watch?v=MayHWRmFtyE |
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Factom received in the last few months 4+4 million Dollar including Tim Draper as a VC. Im sure that Factom will deliver  |
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