You can buy factoids and convert yes OR you can buy EC on the website. The EC on the website does nothing with factoids, stop that disinformation, it's just mainly there fortrading and fun, since it's a blockchain based business
Omg are you so dumb or you dont listen, if yo buy entry credits at their store they will burn the factoids. ALWAYS factoms need to be burned before you get entry credits. Period. You guys are getting trolled hard! I'm sure you know that already and are just biting the bullet but it's clear Pap0u is just trying to buy as cheap as possible and keeps spreading nonsense FUD that only newcomers or people totally oblivious to Factom would consider seriously. Anyway I'm trying to buy some more below 240k but it doesn't seem possible at the moment. I'm still have some sub 200k orders and advise anyone to do the same, he's right that Factom could dump because it's too manipulated and that's our shot in order to scoop some cheap factoids. |
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Not to rain on anyone's parade of course but the logo reminds me a little bit too much of Lbry: https://lbry.io |
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Yep, as the price crashes down. So now 250k is looking like 300k did, and we know wats next from here. I've made plenty trading this already and now I'm fully out and waiting to see what to do but most likely it's going down. Only reason I closed the short is because I don't need to get pumped to liquidate me and then dumped right after...and I wanted to untie my money and it was a good enough profit. I just hate when people get taken advantage of that's why I'm saying WAIT. Invest in Fct but not at this price because it's too erratic and it will come crashing down...you guys can only keep it afloat for so long. Even if Factom ends up as a success, the price will be coming down because the big leaguers will want to stock up for the next pump and as we see there is no buy support until the price is sub 200k
People are not idiots, that's why when the last dump happened to 200k many of us bought all we could, it's free money basically. Factom at $1.xx before M2? What are we talking about? It didn't last for too long. I agree that the price is too volatile due to manipulation but this is the same that happened with Ethereum, enough is enough. These projects have the potential to be worth well above $100 per token/coin if blockchain start breaking into the mainstream and corporate world for real in 2017/2018. All these prices are jokes if you are here long term. For short trading, no one can't really predict bottoms. Everyone was saying Ethereum would hit .004 or at least .006, it didn't happen. Honestly the FCT dump from 400-500k was deserved due to delays with M2 and lack of communication, the market is not illogical. Now the price is fair in my opinion, it can go either way short term. The minute there are some M2 news or activity be sure to say goodbye to 200ks though. |
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Current amount of FCT (8.7 million) x value of FCT (1.9USD) / EC price (0.001USD) = 16.500.000.000. So this is the amount of entries that can theoretically be made with the current price of FCT, while Factom is now at 5.7 million entries. Seems like a big difference, but we all know once Factom starts to acquire big companies with big data sets to store on Factom's blockchain, it can go pretty fast. 16.5 billion is then suddenly not so much anymore. Especially if you keep in mind that a large part of the FCT will never be available for convertion into EC's, as they are used for trading/speculation and long term holdings. So in reality there are way less FCT available to really burn into EC's than the number of 8.7 million. This will drive the price.
Plus to me the inflation is not something that crazy, many fear that 73k FCT per month is crazy, but that basically means (if the company survives without burning any FCT) that it will double its supply in 10 years. So 16-20m FCT is not a huge supply either and that's the worst case scenario. That would never happen because the company will actually go out of business. In any case and we any real usage, inflation will be very low or even deflationary. So if Factom gets any kind of traction that means the current price is a steal like many of us have said in the past. I don't understand how FCT could be available to be burn into EC's before M3 as FCT's are always hold by someone in Poloniex or wallets. Actually and until M3, where burned FCT come from? That is actually a good question. Maybe someone from Factom can answer this here? Anyone holding FCT can convert that FCT to Entry Credits in a Factoid Transaction (our wallet handles building such a transaction). So I am not quite sure what the confusion is. You can buy FCT from Poloniex, then convert that FCT to Entry Credits. Or you can buy Entry Credits directly from Factom. https://shop.factom.com/(A note about shop.factom.com: The idea isn't really to be a source of Entry Credits, given a price of .5 cents for something you can convert yourself for .1 cents. The idea is really to provide a low friction path to Entry Credits which avoids wallets and Factoids and Exchanges.) We expect there will be other sources for Entry Credits over time. Paul Well my guess was not that wild! Thanks for the clear answer. |
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Heads-Up! 1)We just noticed a major issue with Azure wallet, which is used for testing. However there are ppl who actually uses this one so pay attention: wallet files under http://.... and https://.... are stored separately, so you may feel you "lost" wallet/address on azure wallet---just +or- the s 2)the major update to the app.antshares.org web wallet is coming tomorrow! ( http://app.antshares.org will automatically jump to https one, so it has no the 1) issue) will the new web wallet improve on Sync issues? i wasted 100+hours on current web wallet and barely got past 50% before giving up. Can you please elaborate the changes/updates we can expect tomorrow? (this is posted 1 page back) The first major update to the web wallet is scheduled no later than Friday this week, some previews: a)in newly created wallet files, the number of addresses is limited to 1, and cannot create more addresses; b)previous wallet files with multiple addresses will keep those addresses, but cannot create more, and only shows as 1; c)multiple overseas nodes will be activated to increase connection speed. Great news, hope I can finally sync my wallet and make it work, I know my ans are there somewhere since I can see them at antcha.in but still haven't been able to create a wallet. I know the team has been working hard but they should've been an easy way for common investors to use a simpler wallet without so much sync issues and platforms incompatibility. |
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Current amount of FCT (8.7 million) x value of FCT (1.9USD) / EC price (0.001USD) = 16.500.000.000. So this is the amount of entries that can theoretically be made with the current price of FCT, while Factom is now at 5.7 million entries. Seems like a big difference, but we all know once Factom starts to acquire big companies with big data sets to store on Factom's blockchain, it can go pretty fast. 16.5 billion is then suddenly not so much anymore. Especially if you keep in mind that a large part of the FCT will never be available for convertion into EC's, as they are used for trading/speculation and long term holdings. So in reality there are way less FCT available to really burn into EC's than the number of 8.7 million. This will drive the price.
Plus to me the inflation is not something that crazy, many fear that 73k FCT per month is crazy, but that basically means (if the company survives without burning any FCT) that it will double its supply in 10 years. So 16-20m FCT is not a huge supply either and that's the worst case scenario. That would never happen because the company will actually go out of business. In any case and we any real usage, inflation will be very low or even deflationary. So if Factom gets any kind of traction that means the current price is a steal like many of us have said in the past. I don't understand how FCT could be available to be burn into EC's before M3 as FCT's are always hold by someone in Poloniex or wallets. Actually and until M3, where burned FCT come from? That is actually a good question. Maybe someone from Factom can answer this here? It's a very good question but the answer is very simple I think, Factom will handle all the EC's needs for their clients. Precisely they will manage all FCT demands, the companies will only buy EC with fiat, they don't even need to know about what a Factoid is. So they will have a buy form and select 100k entries for let's say $100 or whatever. Factom will provide them with the EC behind the curtains by burning FCT they will hold I guess. |
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Current amount of FCT (8.7 million) x value of FCT (1.9USD) / EC price (0.001USD) = 16.500.000.000. So this is the amount of entries that can theoretically be made with the current price of FCT, while Factom is now at 5.7 million entries. Seems like a big difference, but we all know once Factom starts to acquire big companies with big data sets to store on Factom's blockchain, it can go pretty fast. 16.5 billion is then suddenly not so much anymore. Especially if you keep in mind that a large part of the FCT will never be available for convertion into EC's, as they are used for trading/speculation and long term holdings. So in reality there are way less FCT available to really burn into EC's than the number of 8.7 million. This will drive the price.
Plus to me the inflation is not something that crazy, many fear that 73k FCT per month is crazy, but that basically means (if the company survives without burning any FCT) that it will double its supply in 10 years. So 16-20m FCT is not a huge supply either and that's the worst case scenario. That would never happen because the company will actually go out of business. In any case and we any real usage, inflation will be very low or even deflationary. So if Factom gets any kind of traction that means the current price is a steal like many of us have said in the past. |
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what is your opinion about the fact that such an amount seems to be so centrally owned by a hand full of people
For one I'd be terrified if people in the company didn't own some FCT. It provides incentive, you should hope they own as much as possible. Secondly, you are ignoring the fact that the top account is worth 5X the second account. It's widely assumed to be the Poloniex cold wallet. Now where are the other exchange wallets? Thirdly, It has no underlying PoS, large bagholders present no threat. FCT isn't made to be a currency that transfers wealth, it's a software license, by holding FCT you are expecting that people will use the system to make entries. Really? Factom price is meant TO PAY federated servers, they will get paid with FCT and you are saying it's a software license? You are not buying entry credits you know? Your statement make no sense, cause factoids are entry credits you just convert them, so actually factom is much more then a licence its the economics behind factom No they are not just entry credits, that doesn't make any sense. Factoids are there to speculate and keep a balance depending on supply/price. It may not be a currency itself but it's the cryptocurrency or whatever you like to call it behind the company. If the company does well so does its main asset. Yes you can say it's similar for example to if Adobe was selling 8 million licenses of Adobe Creative Cloud for $2 back then. Now how much those are worth? It's actually not the same at all of course but that's the point you are trying to make and as you see it has value. You can convert your factoids into entry credits, so eventually the factoids will have the same value as the network usage. So actually factoids increase price when the usage go up. Exactly. Just read this and you know what the relationship is between factoids (FCT) and Entry Credits (EC's): https://bitcointalk.org/index.php?topic=1521895.0Now its still really overpriced compared to the usage, but thats specualation value atm, like many things before the real launch. You can say the same about any other blockchain project, not even BTC has mainstream attention, it's all speculation and potential for now. Even stock markets price the potential and future dividends in, true value is something very illusory in most cases. The point is FCT is meant to have any value the market gives it, EC's on the other hand remain very low and affordable. We all agree that if Factom becomes a very profitable company then FCT price right now is severely undervalued. |
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what is your opinion about the fact that such an amount seems to be so centrally owned by a hand full of people
For one I'd be terrified if people in the company didn't own some FCT. It provides incentive, you should hope they own as much as possible. Secondly, you are ignoring the fact that the top account is worth 5X the second account. It's widely assumed to be the Poloniex cold wallet. Now where are the other exchange wallets? Thirdly, It has no underlying PoS, large bagholders present no threat. FCT isn't made to be a currency that transfers wealth, it's a software license, by holding FCT you are expecting that people will use the system to make entries. Really? Factom price is meant TO PAY federated servers, they will get paid with FCT and you are saying it's a software license? You are not buying entry credits you know? Your statement make no sense, cause factoids are entry credits you just convert them, so actually factom is much more then a licence its the economics behind factom No they are not just entry credits, that doesn't make any sense. Factoids are there to speculate and keep a balance depending on supply/price. It may not be a currency itself but it's the cryptocurrency or whatever you like to call it behind the company. If the company does well so does its main asset. Yes you can say it's similar for example to if Adobe was selling 8 million licenses of Adobe Creative Cloud for $2 back then. Now how much those are worth? It's actually not the same at all of course but that's the point you are trying to make and as you see it has value. |
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what is your opinion about the fact that such an amount seems to be so centrally owned by a hand full of people
For one I'd be terrified if people in the company didn't own some FCT. It provides incentive, you should hope they own as much as possible. Secondly, you are ignoring the fact that the top account is worth 5X the second account. It's widely assumed to be the Poloniex cold wallet. Now where are the other exchange wallets? Thirdly, It has no underlying PoS, large bagholders present no threat. FCT isn't made to be a currency that transfers wealth, it's a software license, by holding FCT you are expecting that people will use the system to make entries. Really? Factom price is meant TO PAY federated servers, they will get paid with FCT and you are saying it's a software license? You are not buying entry credits you know? |
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It is not a coincidence that FCT price is around TA now, right before M2 launch. M2 launch will give it a new reason to break the downtrend. This area is great for accumulating in my opinion.  Agree but we might see lowers if bitcoin breaks out, but its now testing the 5400 cny level, i think we can test support again but serieus people cant predict cause of btc atm. just guess I think factom just had a lot bad luck, not finished m2, bitcoin rising, venture capital hacked and now again btc on the rise. Sucks but thats how things go. That's absolutely the time to buy, I know buying at these levels is hard and it's harder to predict new bottoms. I had some buys set at 200k that got triggered in the last dump and that was great. I have some at 160-180k too just in case. I bought some at 230k, if you believe FCT price will rally above 400k and beyond with M2 and Exodus wallet you just have to accumulate now. Yes it can drop to 150k depending on manipulation but really, do you really see FCT at $1 for that long? it's a complete steal and we all know it. |
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Makes you wonder how mainstream will crypto ever gonna get if that's what is coming for the average joe who just want to use bitcoin or whatever. And for what purpose exactly?
That's why people can't seem to grasp what's so great about it. No bank, paypal or credit card company hack them or stole their money ever and Bitcoin/crypto seems full of danger to them (and it's true...).
Agree. Keeping your assets safe is complicated and needs special attention. Yes and at the same time we can appreciate why Iconomi is needed since most people would like to invest but don't really know how to use a wallet, handle private keys, decimals, exchanges, multiple addresses, it's pretty overwhelming. Well a lot of traders only use exchanges already but if you are a long term investors you would need to mess with all that. Iconomi fund platform will sort that out for a lot of people. |
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Same phone number. Get the E-mail and login exchanges.. It is hard to avoid this method.. Oh..My..god From wan. Good lesson on why not to link the same gmail address and cell phone to multiple crypto accounts that hold money. - Every exchange or ico website login should have a unique email address & password that is not used for anything else. Keepass is a good way to keep all of these separate logins organized. - tutanota or protonmail are good email providers because they don't have any password recovery that hacker could exploit - One dedicated basic phone that is only used for sms verifications. - A separate dedicated/encrypted smartphone that is only used for 2FA, never use the phone number for this phone anywhere. - Also recommended to use a separate encrypted computer for handling keepass and exchange accounts. Computer that is used daily for youtube, bitcointalk, emailing, chatting, and torrenting is at high risk of getting key-logging malware. This article about Peter Todd generating zcash parameters is entertaining and a good read for getting crypto users into a security mindset: https://petertodd.org/2016/cypherpunk-desert-bus-zcash-trusted-setup-ceremony#initial-contactMakes you wonder how mainstream will crypto ever gonna get if that's what is coming for the average joe who just want to use bitcoin or whatever. And for what purpose exactly? That's why people can't seem to grasp what's so great about it. No bank, paypal or credit card company hack them or stole their money ever and Bitcoin/crypto seems full of danger to them (and it's true...). |
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Half Time: Bayern Munich 0 - 0 Atlético Madrid
Full Time: Bayern Munich 0 - 0 Atlético Madrid
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Cleveland Cavaliers 118 @ 99 Toronto Raptors
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What I'm saying is generally crypto is such a small market and its way easier to make money on downsides then upsides. Everything always dumps, there is always people willing to pay a cheaper price but it's very hard to get a buying rally or find people willing to buy in general. All I'm saying is use Factoms limited buyers market and just short every small pump, or big one. It will ALWAYS dump no matter what.
Fair but you have to be careful as we've seen all year with ETH, XMR and FCT. Some pumps were unrelentless and many shorters got rekt because there was no way ETH could've gone to almost 0.04. Factom got to 0.008 which now seems a very distance past. XMR pumped like hell too and it was all basically a charade based on supposed adoption by the dark market. If you don't get too crazy on margin and go all in and are willing to hold your short or long position for long (even months) and add little by little, I agree you will always make money. The problem is desperation usually sets in and the phrase "the market can stay irrational longer than you can stay solvent" becomes a harsh reality. |
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Those two big buy walls on Kraken have moved above 200K. Looks like the race is about to start soon
Every second day, we hear buy wall has reached -- , now the price will rise to the moon. And icn / btc rate isn't affected much after that. The real pump would happen when it's trade volume increases. With such a low daily trading volume, each trade is affecting the price of icn. Hopefully, when dividends come, icn volume will increase. Eventually many more exchanges would list icn. Then we can see the real journey of icn to moon. Actually the buy wall was @150K for quite a long time. I don't think that first dividends will be attractive, besides the fact that dividends were actually paid. ICN price will be determined by the quality of the product, and not by daily trading volume. The trading volume is just another symptom. I think any kind of dividends (unless they are completely negligible) would be huge news. It would mean the company is working and growing and the market will price in any future grow and potential like it happens with stock companies. The problem right now is that the crypto scene or bubble seems to have popped for now, BTC pumped and many alts lost almost 100% in value. Now BTC is dumping and the bleeding continues...so not sure what's going on. |
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What do you think of Raptors vs Cavs tonight ?
Better stay away from Moneyline and bet on Over Points. Like I said, Toronto Raptors comes in a large lead win against the Atlanta Hawks in their homecourt. The momentum is still there and likely there is a chance they can crash Cleveland Cavaliers in their home. Cavaliers, which came from a 3 game losing streak at the road will surely having a hard time again to steal road games against the Raptors. What I see? Expect some massive rainbow shots from both sides which will result for a high scoring game. So I consider that betting on Over Points is likely the best option. I think it's good time to bet for the cavs here tbh, considering their losing streak thus most public bets will go with the raptors and that's what wise guys always wanted and gamblers know what happened when betting against the wise guys. Really difficult game to predict, Cavs are playing the worst basketball of the season so far while Toronto is doing quite well. As this matchup is already special due to the rivalry between the two teams after the East finals I think there's a chance Cavs wake up at home and send a message. However Toronto would be thinking the same and they are in much better shape. I would put my money on the Cavs though. |
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The only reason it isn't pumping is because it is supposed to pump, Factom is literally the only coin that deserves and should be pumping yet it doesn't because that's how they make money, by doing the opposite of what's expected and making people make mistakes. Great news comes out, everybody longs, so they dump it to make people close or get liquidated. It's quite amusing lol and these market players are just too predictable. They really need to switch it up.
That's why everyone who understands the value of Factom should be buying everything they can now (I'm not saying it will rule the world but we can all agree the current $2 price is nonsense). It's getting tiresome but once M2 comes out I'm sure manipulators and whales will let it fly to 500k and beyond (or whatever above $5-6 price would be in BTC). And honestly considering the supply that would be pretty cheap too. I can't wait to have my FCT on my Exodus wallet. |
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