[2015-04-16] Factom Will Sell Up to 100% of its Bitcoin Reserves

[byt411]

http://www.coinbuzz.com/2015/04/16/factom-a-bitcoin-2-0-project-will-sell-85-100-of-its-bitcoin-reserves/
Factom, a Bitcoin 2.0 Non-Profit Organization, is going to sell 85-100% of its bitcoin reserved raised in its crowdsale.

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[bryant.coleman]

Reminds me of the Ethereum Bitcoin dump. They had dumped some 30K coins all of a sudden, which crashed the Bitcoin prices then. And now it is the turn of Factom to dump their coins.

[cbeast]

Reminds me of the Ethereum Bitcoin dump. They had dumped some 30K coins all of a sudden, which crashed the Bitcoin prices then. And now it is the turn of Factom to dump their coins.

I wonder why they use Bitcoin for their fundraisers and not wire transfers like bitcoins are bought.

[srgkrgkj]

argh im worried again the last time a company decided to do this the markets went into trunmoil

[byt411]

Reminds me of the Ethereum Bitcoin dump. They had dumped some 30K coins all of a sudden, which crashed the Bitcoin prices then. And now it is the turn of Factom to dump their coins.

I wonder why they use Bitcoin for their fundraisers and not wire transfers like bitcoins are bought.

That's probably because people can donate small amounts to them easily, and money can also be potentially laundered.

Reminds me of the Ethereum Bitcoin dump. They had dumped some 30K coins all of a sudden, which crashed the Bitcoin prices then. And now it is the turn of Factom to dump their coins.

Yup, that's why the Ethereum dump was also referred to in the article.

argh im worried again the last time a company decided to do this the markets went into trunmoil

We are already in turmoil lol.

[bryant.coleman]

Reminds me of the Ethereum Bitcoin dump. They had dumped some 30K coins all of a sudden, which crashed the Bitcoin prices then. And now it is the turn of Factom to dump their coins.

I wonder why they use Bitcoin for their fundraisers and not wire transfers like bitcoins are bought.

That is mainly because they are fundamentally opposed to centralized banking. They want to encourage the use of digital currency (well... that is what they are claiming). For them, Bitcoin is better than fiat.

[jjacob]

Reminds me of the Ethereum Bitcoin dump. They had dumped some 30K coins all of a sudden, which crashed the Bitcoin prices then. And now it is the turn of Factom to dump their coins.

I wonder why they use Bitcoin for their fundraisers and not wire transfers like bitcoins are bought.

Bitcoin is a better currency?
It would be easy to transfer small amounts across the globe without worrying about transaction costs if we use Bitcoin.