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We are hosting the Texas Liberty Conference just outside of Austin, TX on Feb 24, 2018. The goal is to have about 1/3 of the presentations be Libertarian political candidates, 1/3 to be liberty related subjects and 1/3 to be decentralized blockchain projects. There are still sponsor positions available. The sponsorships include vendor space to hand out any project collateral you may have and a speaking spot during the event. If there are any projects that might be interested in presenting, please contact us. http://texaslibertypac.orgMatthew Whittington |
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Thanks for the long thoughtful responses to my questions. It seems it's much simpler to just trade FCT than to bother with trading Entry Credits. As for the quick transaction processing, it sounds like there is a sort of "soft-confirmation" by the federated servers before coming to a more trusted "hard-confirmation" through the Bitcoin anchor transaction. That does seem like a best-of-both-worlds compromise. Cool.
Entry credits are not tradable. If trading is what you are doing, DO NOT convert your factoids to Entry Credits. |
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hi
will there be a qt wallet for non tech Factoids holder?
Kind Regards
Not qt, but there will be a Graphical User Interface in addition to the commandline access you have now. |
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So anybody have ideas on how different use-cases may warrant different entry frequencies?
Or, is everybody assuming most factom users will put in an entry every 10min.
6 entries/hr * 24 hr/day = 144 entries/day
vs a utilization rate of 1 entry/day is a drastic difference in uptake of factoids.
Would a title registration company really have a need to update every 10 min?
Even if you were proving the starting timestamp of a patent idea, artwork, or whatever, I'm trying to understand why I'd need anything more than 1 entry/day.
What are people's thoughts and expectations on this?
The only counter I can think of is that even 144 entries/day is only $14.40, which is not a whole lot for proving honesty and goodwill--yet still comes off to me as somewhat overkill.
This is imprecise , but at a high level... (anyone, feel free to correct it) Lets say to go to closing. You have the closing document, the lead based paint disclosure, your loan agreement, the etc. Lets say there are 16 documents. The title company puts 16 document entries in, all related in a factom chain. Two years later some question comes up. The title company produces 14 documents. You can look at that and say, you are missing two documents.... and that loan document is not the original. I may not know what the original loan document was, but that ain't it. Factom does one entry into the bitcoin blockchain (all 16 were in the same 10 minutes). The closing may have had 16 entries into factom...or a million...or 1. |
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Looking at harvsmith's post history this is obviously a troll account.
FACTOMs troll following is pretty impressive. It's partly what keeps me interested in it.  The bitcointalk troll squad only trolls projects that threaten them to some extent. There are a ton of real scammy projects but people don't even bother to troll. Factom is a legitimate project with legitimate goals and a team based in the US. AND dcxtx runs a legitimate service also based in the US. I'm actually a fan and investor in Factom. My issue is with dcxtx's "service." I think it's disingenuous to charge 10x the ico price for FCT when it is not even listed. But this is crypto, right? Everyone is trying to pull a fast one, so it's OK. Also, being based in the US does not make something legitimate. Hey Harvsmith, I am not sure how our price is disingenuous. That is the price that we are willing to accept . Was it also disingenuous for us to buy at higher than the ico price? What is your definition of listed? One exchange? Three so it is not a monopoly? We have a "service" where, after setting up an account, you send us bitcoin and ,at the price we have posted, we automatically send you back factoid. I am sorry if that has offended your sensibilities. dcxtx, Don't mind these guys, they obviously don't understand how a free market worksSee my point. Charging 10x for FCT was a huge ripoff. Back to ICO prices. What we're you expecting to happen? $1, 2$, $50 after market listing? I expect Factoids to settle out closer to $1 when new of the first sizable project integration starts to make the news. I hope that happens before the end of the year. This month would be great. Right now, factoids are cheap. If you are involved in a project that will need entry credits and you did not participate in the ICO, now is the time to buy. While my sell price may have made you mad, you may have noticed that my buy price was also a multiple of the ICO price also. My timing may have been off, but I am not going to lose money on the ones I purchased. |
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How many new coins do these federated/centralized miners mine every day?
Today? 0. Factom has the current federated server and is not paying itself block rewards. The next Milestone for them is to expand to 8 federated servers. I believe they will not control any of those. The third milestone is the whole federated system. It is either 16 or 32 (I don't remember) federated servers and N audit servers. There is a consensus method for figuring out which is which and they can change . At that point, I KNOW Factom will not be running one. I believe this is when the Block rewards will start happening. I believe the Milestones are on their website. |
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How to run in full or server mode?
And is there a way to mine/produce/earn FCT?
If you mean run an active miner for block rewards, not yet. Factom has a server running without block reward. when the full system of federated servers are up, then yes. you can. It is not quite as simple as run one and get block rewards, thre is a consensus process that detaermins who is a federated server and who is not (is an auditor i believe) Brian Deery? Mostly Accurate? |
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No. The Entry Credits are burned. Entry Credits are non transferable. They can only be used to buy entries. But when they DO buy entries, the Factoid in the protocol that was used to buy the Entry Credits is released. [/quote] Released may be a bad term for that. THOSE factoid never come back, but the federated servers that process the entries will get a block reward. So in effect, they are release, but it is really new factoids. The inflation is meant to counter the deflation of destroying factoids. Entry credit price (per factoid) varies inversely to market price. That is supposed to be pegged to market price. The market just became active, so that isn't automated yet. It will be by the time the whole system (all federated servers, etc) is released. Cheap factoids will mean few Entry Credit per. Expensive factoids buy many entry credits. |
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Try doing it like this:
factom-cli newaddress fct bitcoinsandiego "12 words from koinify inside the qoutes"
that's exactly what i've done multiple times  The S error is a bad wallet. I had one after the first binary release. I closed either the factomd or fctwallet be ending it instead of ctrl-c or it was a power outage. I do not recall what killed it. The updated release fixed it for me.. It is (was) possible to mess up the wallet. With the update, I believe the wallet was 'fixed' also. Are you using your backed up wallet every time or have you tried importing your 12 words to a new wallet? |
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Our first FCT Factom (factoids) market is now live thanks to Poloniex. https://poloniex.com/exchange#btc_fctFor more info on how to use your Factoids follow our guides here: http://factom.org/howto. Pay attention when using the command line, read our guides fully at least once before attempting a transaction. We are working on an easier to use GUI wallet but it is some time away, if unsure, we recommend holding on until its release. Help please. I am getting this error when trying to import my Factom wallet using the 12-word secret key: "Error attempting to create wallet - invalid character 'S' looking for beginning of value" I already double checked with Koinify and verified the phrase is correct *edit* I get this error on Mac and Windows When I check my balance on Koinify it is correct, but when I try to import this key, I get this error. I tested with 12 yellows and I got the same Factoid address as in the How-to, but I cannot import my key... WTF This sucks I am assuming windows. first, back up your wallet. probably c:\users\<your user name>\.factom\factoid_wallet_bolt.db you are probably at c:\users\<your user name> when you start a command prompt. back up that file then install the latest binaries. run factomd and fct wallet again and see if everything is there. if not, copy your factoid_wallet_bolt.db back in. I don't think you need to copy your wallet back in, but a backup never hurts. I had this issue after a power outage. it isn't a problem now, but the first version did not like a hard quit. verify with FACTOM (the user...or company) before following this advice. I am 99.9% sure it is correct, but verify If you have done nothing with your current wallet, backing it up doesn't matter. Any time you create a new address back up your wallet file. Not needed at every transaction, just every address you create. then copy the wallet back to that location. |
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The order book spread on dcxtx just went wide as trading on Poloniex has gone live. When Poloniex prices settle, factoids will be put into our usual price determination system that will be much closer to market now that one is being established.
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Looking at harvsmith's post history this is obviously a troll account.
FACTOMs troll following is pretty impressive. It's partly what keeps me interested in it. The bitcointalk troll squad only trolls projects that threaten them to some extent. There are a ton of real scammy projects but people don't even bother to troll. Factom is a legitimate project with legitimate goals and a team based in the US. AND dcxtx runs a legitimate service also based in the US. I'm actually a fan and investor in Factom. My issue is with dcxtx's "service." I think it's disingenuous to charge 10x the ico price for FCT when it is not even listed. But this is crypto, right? Everyone is trying to pull a fast one, so it's OK. Also, being based in the US does not make something legitimate. Hey Harvsmith, I am not sure how our price is disingenuous. That is the price that we are willing to accept . Was it also disingenuous for us to buy at higher than the ico price? What is your definition of listed? One exchange? Three so it is not a monopoly? We have a "service" where, after setting up an account, you send us bitcoin and ,at the price we have posted, we automatically send you back factoid. I am sorry if that has offended your sensibilities. |
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There's something very strange going on with the exchanges here. There is no reason for integrating Factoids to take so much longer than integrating other fresh code base "coins".
Nothing strange. The last release exposes more granular transaction data through the API calls. As someone that has integrated factoid already, this update is very appreciated. It also makes integration easier. That may be the holdup. We do not have to handle 1000 users at any given time so we can make allowances. Exchanges may may be waiting on the data that is now easily available. If you are looking to acquire some factoid before they make it to the exchanges, PM me. We have a service that does that. 10x spread on your "exchange"? We are not an exchange. To me an exchange is a public order book or a dollar to bitcoin service. We have a two party trade between our user and us. That is not a public price spread. That is our price spread. The reason there is such a spread is that we have a bunch at the moment so we are not as motivated to buy as we were last week when our buy price was as high as 0.003. We do not expect someone to sell at 0.0005. That is less than the crowdsale price. When we sell some Factoid, our buy and sell price will go up. But, if someone does want to unload at 0.0005 we are certainly willing to buy them. Exchange used to be in our name. We changed it to Services to avoid that confusion. Plus, we are aiming to be someone that helps people bring their projects to the market. Building our site we have spent a lot of time talking to regulators (mostly state level in US) , integrating with exchanges for price discovery, wallet automation and (formal or informal) input on projects going on in the area. Services fits our mission better now. Sounds like a long-winded way of saying that your "mission" is to rip people off by charging 10x the ipo price for something that might not even make it onto a real exchange. You are free to read my response as you would like. |
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There's something very strange going on with the exchanges here. There is no reason for integrating Factoids to take so much longer than integrating other fresh code base "coins".
Nothing strange. The last release exposes more granular transaction data through the API calls. As someone that has integrated factoid already, this update is very appreciated. It also makes integration easier. That may be the holdup. We do not have to handle 1000 users at any given time so we can make allowances. Exchanges may may be waiting on the data that is now easily available. If you are looking to acquire some factoid before they make it to the exchanges, PM me. We have a service that does that. 10x spread on your "exchange"? We are not an exchange. To me an exchange is a public order book or a dollar to bitcoin service. We have a two party trade between our user and us. That is not a public price spread. That is our price spread. The reason there is such a spread is that we have a bunch at the moment so we are not as motivated to buy as we were last week when our buy price was as high as 0.003. We do not expect someone to sell at 0.0005. That is less than the crowdsale price. When we sell some Factoid, our buy and sell price will go up. But, if someone does want to unload at 0.0005 we are certainly willing to buy them. Exchange used to be in our name. We changed it to Services to avoid that confusion. Plus, we are aiming to be someone that helps people bring their projects to the market. Building our site we have spent a lot of time talking to regulators (mostly state level in US) , integrating with exchanges for price discovery, wallet automation and (formal or informal) input on projects going on in the area. Services fits our mission better now. |
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There's something very strange going on with the exchanges here. There is no reason for integrating Factoids to take so much longer than integrating other fresh code base "coins".
Nothing strange. The last release exposes more granular transaction data through the API calls. As someone that has integrated factoid already, this update is very appreciated. It also makes integration easier. That may be the holdup. We do not have to handle 1000 users at any given time so we can make allowances. Exchanges may may be waiting on the data that is now easily available. If you are looking to acquire some factoid before they make it to the exchanges, PM me. We have a service that does that. |
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You don't actually transfer them off. The 12 words are a way to store a private key. you can use the keymaker (from factom) to get that key or if you install the factom binary installs, you can import the key into your wallet.
By importing your key, you have access to your factoids. Koinify doesn't 'have' your factoid, just the key
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How can you sell them ? There is still no wallet ? Or if so, where and how ?
The wallet is still commandline. http://factom.org/howtoUse the binary install |
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Any exchange that accept factom ?
No exchanges yet, but if you are looking to sell, we are buying. You will have to set up an account. |
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Factom is centralized garbage. I got tricked into buying this from some guy at a conference. Now I understand "early-investors" of projects pay conferences to send their sock puppets to talk at the event and promote their public crowdsale or future investment rounds.
Factom deceived me with the word "federated" which actually means centralized.
Could we get this thing on poloniex yet? They have many other XCP tokens listed. I really want to dump this before everyone else realizes this was a bad idea and dumps.
My understanding is that Factom is not a counter party token. If it were you could just sell it in counterwallet. Factom is not a counterparty implementation. They built their own from the ground up. |
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Factom is centralized garbage. I got tricked into buying this from some guy at a conference. Now I understand "early-investors" of projects pay conferences to send their sock puppets to talk at the event and promote their public crowdsale or future investment rounds.
Factom deceived me with the word "federated" which actually means centralized.
Could we get this thing on poloniex yet? They have many other XCP tokens listed. I really want to dump this before everyone else realizes this was a bad idea and dumps.
If you would like to sell them, I will buy them. |
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