[FCT] FACTOM - HOW FACTOIDS WORK - PRICE SPECULATION

[D-Lux]

Heads up that there's now a FCT trading subreddit: www.reddit.com/r/fctrader

Note only only "t" in name ...

[D-Lux]

FCT going through a nice rise ...

[bbc.reporter]

Yes. The interest is continuing right now. Is there any news about this or is this still connected to the partnership with DataYes?

[Azael]

Factom Inc. and Intrinio are putting Wall Street on the Factom blockchain https://www.factom.com/intrinio-factom-announce-collaboration/

[bbc.reporter]

All the good news about Factom keep coming and coming. Now I regret not buying more when it was hovering just below 40k satoshis. The trend looks like it will continue for months.

[Azael]

XMR went from $25M to close to roughly $60M market cap on a DNM announcement.
FCT has Department of Homeland Security and a Wall Street firm amongst their clients.

There's a mismatch with the demographic of crypto here and many investors put their idealism before money. The US government and Wall Street are easily in the top 5 of what most crypto people despise and for this reason it'll take some time to reach price discovery. The kind of revenue US government and Wall street can generate stomps any shady DNM.

[matt608]

Here is an interesting forecast, from here:
https://bitcointalk.org/index.php?topic=850070.msg16092497#msg16092497

Question: 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.html

http://www.pwc.com/us/en/financial-services/regulatory-services/publications/assets/sec-consolidated-audit-trail-2016.pdf

http://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...

[bbc.reporter]

@matt608. That is just pure speculation with made up funny numbers. It will be hard to take that seriously. But let us see and hope I am wrong.

[tempus]

@matt608. That is just pure speculation with made up funny numbers. It will be hard to take that seriously. But let us see and hope I am wrong.

It is speculation, yes. Because nobody can know what will happen in future. But it's not just about funny numbers out of thin air.

Since the price of Factoids will be highly dependent on the demand of Entry Credits it is possible to calculate prices for different demand-scenarios. The question is: Is a billion entries per day unrealistic? No. The Factom-team is known to not hype. They are also known for being very correct. If two members of the team say, with the intention to explain how much data Factom can process, that there are single potential customers who ask if Factom could handle 1 billion entries per day - it's pretty safe to say: They don't lie.

And Factom won't be about one or two or five customers. It will be about hundreds and thousands and for a lot of different use cases nobody, not even the team, can foresee.

My perspective is: If there won't be a disastrous event, it's just a question of time that Factom will handle billions of entries. It is rational to expect that because all what has to happen is that they move on the way they did since they've started it.

How likely is a "disastrous event"? What I like to see is that they act carefully and step by step. They say themselves that they treat the software as financial software, they don't go from 0 to 100 in a moment but decentralize it over time, they test everything until it's as perfect as it can be.

The only black-swan-event I can think of is that there is an unknown vulnerability in blockchains in general. But if something like that should happen Bitcoin and the whole market would be done.

[sihat]

as off today 5th Sept 2016, the factom block since 2016-08-16 10:40:00 is still not anchored into the bitcoin block chain. More than 3000 blocks are still not anchored into blockchain.
1 week delay is acceptable but 2-3 weeks for anchoring to bitcoin blockchain. I think it is too long. What do you think? Is this normal.

http://explorer.factom.org/dblock/d36f4f5c4e7030c0f14b49eebb0c4134796ab42762b23bf413824ff8f9b8f8b5

[D-Lux]

XMR went from $25M to close to roughly $60M market cap on a DNM announcement.
FCT has Department of Homeland Security and a Wall Street firm amongst their clients.

There's a mismatch with the demographic of crypto here and many investors put their idealism before money. The US government and Wall Street are easily in the top 5 of what most crypto people despise and for this reason it'll take some time to reach price discovery. The kind of revenue US government and Wall street can generate stomps any shady DNM.

+1

[Mimir]

as off today 5th Sept 2016, the factom block since 2016-08-16 10:40:00 is still not anchored into the bitcoin block chain. More than 3000 blocks are still not anchored into blockchain.
1 week delay is acceptable but 2-3 weeks for anchoring to bitcoin blockchain. I think it is too long. What do you think? Is this normal.

http://explorer.factom.org/dblock/d36f4f5c4e7030c0f14b49eebb0c4134796ab42762b23bf413824ff8f9b8f8b5

I'm not sure where you got the idea the last 3000 blocks aren't anchored, do you have any proof of that? If you are meaning that every block since the 5th Sep hasn't been anchored then that is wrong. There isnt meant to be any delay, certainly not on the scale of weeks.

10 mins ago:
http://explorer.factom.org/dblock/120601e389eb2e4d611c5a522f68e71884feda3f5542f4d0641e3cace7170200

As for this particular block you have linked, I have no idea why. Perhaps this question is best raised in the main thread.

[Blazin8888]

M2 should be close. Very close.

DLT Financial & London FinTech Startup Tramonex Releases Global Crypto-Currency Financial Index “DLT10”:

https://www.crowdfundinsider.com/2016/09/89935-dlt-financial-london-fintech-startup-tramonex-releases-global-crypto-currency-financial-index-dlt10/


"On Thursday, DLT Financial and London-based fintech company Tramonex, announced the launch of DLT10, a crypto-currency financial index. The companies stated the index was designed to track the performance of major digital currencies that run on public blockchains and unlocks information and access to the 10 most relevant cryptocurrencies through a corresponding tracker fund.

The 10 currencies listed on the DLT10 Index are Bitcoin, Ethereum, Ripple, Stellar, Litecoin, Dogecoin, MadeSafeCoin, NameCoin, Factom and NXT. DLT Financial stated it will be launching a matching tracker fund within the next few weeks, which will provide businesses and individuals access to a securitized method for investing."

Factom, Intrinio partner to bring US stock market data to blockchain

http://www.econotimes.com/Factom-Intrinio-partner-to-bring-US-stock-market-data-to-blockchain-266673

“Every 15 minutes the pricing data for the 3,000 most valuable US stocks are now being published into the Factom blockchain”, Factom said in an online post. “This is an exciting new development for the blockchain technology space as it will enable a whole new generation of fintech applications to be developed”.

[americanpegasus]

Well blazin, you sold me.  I just entered into a substantial position on Factom that I hope to hold for at least 6 to 12 months.

[bbc.reporter]

This looks like it is the 2nd best performer after XMR. I regret selling some of it. Now I am thinking of holding this for the very long term which now brings me to the question. How do you store your FCT? What is a good wallet to use. Hopefully a wallet that does not download the whole blockchain.

[D-Lux]

The wallet they have now isn't great apparently, but they'll be integrated into the Exodus.io wallet around the time of the M2 release ... so hopefully within the next days/weeks.

[Shiroslullaby]

Price is up 30% today on Poloniex. What do you guys think?
Just a pump or is this a sustainable rise?
I've heard a little bit about this coin recently and I'm wondering if this is a coin that actually has a future.

[bbc.reporter]

I speculate that this is just a pump. We have seen this many times before. There are some whales that sometimes cannot accept that a coin is falling so they try to pump it up and expect that everyone will follow him. Sometimes it works but most of the time it will fall back again.

[ronald0cz]

I speculate that this is just a pump. We have seen this many times before. There are some whales that sometimes cannot accept that a coin is falling so they try to pump it up and expect that everyone will follow him. Sometimes it works but most of the time it will fall back again.

I agree with you. It is just a pump. But FCT has big potential to growth.

[Shiroslullaby]

 http://www.coindesk.com/factom-blockchain-series-a-4-2-million/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+CoinDesk+%28CoinDesk+-+The+Voice+of+Digital+Currency%29

As much as I hate the government being involved in any crypto project name, this company is getting funding and attention from big names.
There might be some potential for long-term growth here.
I would buy stock in this company if it was publicly traded.

(Thanks to u/tokeweed for posting the article in his speculation thread)