[ANN] FACTOM - Introducing Honesty to Record-Keeping

[MonsterZeroPrice]

Why does nobody respond to my request? I purchased your coin at pre sale prices and made a big loss on the price development.

Now you announced the azure partnership but the question for me is shall I go out or not. This is a heavy question I have to answer myself, but I really fear that this news will bring the coin short term not to a big rise in price because as I saw in the announcement, the development on azure will just start in several months. Within that period I am very doubtfull whether this news will led to the pump game.

Again, I lost money on your coin, since there was not delivered as much the market wanted to. Sad but true. Further one can currently see that due to your very very low trading volume, there is basically no demand for your coin. The only thing you do is to burn the supply. But this is not a great deal for the future. I saw the same thing in the GAMBIT coin. Many many men were burned on this more or less scam coin.

I really appreciate you to make a fork and instsall a new blockchain with NO BURNING OF ANY COINS.

Keep on doing and sincerely,

 

[1714681974]

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[tempus]

Why does nobody respond to my request? I purchased your coin at pre sale prices and made a big loss on the price development.

Now you announced the azure partnership but the question for me is shall I go out or not. This is a heavy question I have to answer myself, but I really fear that this news will bring the coin short term not to a big rise in price because as I saw in the announcement, the development on azure will just start in several months. Within that period I am very doubtfull whether this news will led to the pump game.

Again, I lost money on your coin, since there was not delivered as much the market wanted to. Sad but true. Further one can currently see that due to your very very low trading volume, there is basically no demand for your coin. The only thing you do is to burn the supply. But this is not a great deal for the future. I saw the same thing in the GAMBIT coin. Many many men were burned on this more or less scam coin.

I really appreciate you to make a fork and instsall a new blockchain with NO BURNING OF ANY COINS.

Keep on doing and sincerely,

 

Several good news for the future, and in my eyes Factom has great potential for the future and you're complaining? That's a little bit weird. And you can't blame them for the market. And you can't blame anyone else for your decisions to invest in a project. Or did you expect it would skyrocket and you could get out with 200% of profit after two weeks?

[richwang01]

Why does nobody respond to my request? I purchased your coin at pre sale prices and made a big loss on the price development.

Now you announced the azure partnership but the question for me is shall I go out or not. This is a heavy question I have to answer myself, but I really fear that this news will bring the coin short term not to a big rise in price because as I saw in the announcement, the development on azure will just start in several months. Within that period I am very doubtfull whether this news will led to the pump game.

Again, I lost money on your coin, since there was not delivered as much the market wanted to. Sad but true. Further one can currently see that due to your very very low trading volume, there is basically no demand for your coin. The only thing you do is to burn the supply. But this is not a great deal for the future. I saw the same thing in the GAMBIT coin. Many many men were burned on this more or less scam coin.

I really appreciate you to make a fork and instsall a new blockchain with NO BURNING OF ANY COINS.

Keep on doing and sincerely,

 

China is the biggest market of cryptocurrency, but very less guys are aware of Factom, I am in their community, no talking, no communication, it's a dead community.

[FACTOM]

Paul Snow is hosting an AMA on Bitcoin.com feel free to ask any questions.

https://forum.bitcoin.com/ama-ask-me-anything/i-am-paul-snow-the-architect-of-factom-and-chair-of-the-texas-bitcoin-conference-ask-me-anything-t4026.html

[pinkman12345]

Ok im confused after reading the q and a session with paul snow.

So if people want to use factom they dont need to exchange factoids they can buy entry tokens from factom themselves.... so whats the point in the factoids i own??

Hopefully im being silly and am wrong

[mishax1]

You are being silly, it has been discussed before..  

[MonsterZeroPrice]

Ok im confused after reading the q and a session with paul snow.

So if people want to use factom they dont need to exchange factoids they can buy entry tokens from factom themselves.... so whats the point in the factoids i own??

Hopefully im being silly and am wrong

very nice point. This could explain that there was no big buying after the azure news.

[tempus]

Ok im confused after reading the q and a session with paul snow.

So if people want to use factom they dont need to exchange factoids they can buy entry tokens from factom themselves.... so whats the point in the factoids i own??

Hopefully im being silly and am wrong

He says: "First will be the deployment of a Entry Credit store, where users can buy Entry Credits (basically access to the protocol) without touching any sort of tradable token."

It's just about the opportunity that people don't need to touch any Crypto themselves. They can pay with Dollar to get access to the system, but technically it still will be FCT --> EC.

[tempus]

Ok im confused after reading the q and a session with paul snow.

So if people want to use factom they dont need to exchange factoids they can buy entry tokens from factom themselves.... so whats the point in the factoids i own??

Hopefully im being silly and am wrong

very nice point. This could explain that there was no big buying after the azure news.

My theory is:

1) Factom is known, but it's seen as a Blockchain-project. There isn't a lack of media-feedback about Factom but Factoids are a little bit under the radar. With other words: Factom gets attention but Factoids not that much.

2) In times when people expect a rising price in Bitcoin we see some sell-pressure in the market (every market)

3) My impression is that too many don't understand the economic design and it's potential. I've made some calculations about different scenarios and because of the openness of the system and that it can be used for all kinds of data-management, I personal see this as an opportunity like Bitcoin in 2009. It's damn cheap right now.

The good thing is: It's totally independent from the speculative aspect. If it will be used there will be a natural increase in price and it can go very high.   

[mishax1]

The question is not "if", but "when".

[pinkman12345]

Cheers guys, put my mind at ease.

Yeah its a case of when. Only gotta read the coindesk article to see that its gona be huge. Tips Ethereum and Factom as 'leaders in a crowded market', so its hopefully gonna be coming up on peoples radars now as a great investment opportunity!

[tempus]

The question is not "if", but "when".

Depends on the "what" ;-)

What I really like is: Factom is in it's early stage but right before big steps with Milestone 2. Paul Snow writes:

"Milestone 2 will have a couple of major components. First will be the deployment of a Entry Credit store, where users can buy Entry Credits (basically access to the protocol) without touching any sort of tradable token. The second will be the release of the consensus algorithm, the software supporting distributed processing of the Factom protocol. We are working to have the first release candidate of the consensus algorithm by the end of the year. We fully expect to release a few release candidates prior to going into production with the consensus algorithm early in 2016."

What that means is:

Both, the Entry-Credit-Store and the first "candidate of the consensus algorithm" will make it easier to get access to the system, with other words: For now I would consider those two aspects as very important to make Factom really useful and attractive. And when it comes to the "when": The next 1-2 months I would guess and Factom is at a point to get traction.

Just this is already a nice step:

* Bitcoin data service of prices from different exchanges recorded on Factom's Blockchain - Q1 2016
https://azure.microsoft.com/en-us/blog/azure-baas-update-2/


Everybody can imagine what would happen, if there should be a also a decision of one or even more exchanges to record trades about Factom. ;-) And that would be just one use case with great demand for EC's and therefore also for FCT's. If we think outside the Crypto-World, and Factom has it all to play a role there... At the moment and out of Incestor-perspective, I would say it has more potential than ETH.

[MinermanNC]

Interesting project. I had briefed over this a while back but did not go deeper into Factom at the time.

Nice to see its got MS Azure interest now.. wow! nice 

Will be watching 

[MonsterZeroPrice]

The question is not "if", but "when".

Depends on the "what" ;-)

What I really like is: Factom is in it's early stage but right before big steps with Milestone 2. Paul Snow writes:

"Milestone 2 will have a couple of major components. First will be the deployment of a Entry Credit store, where users can buy Entry Credits (basically access to the protocol) without touching any sort of tradable token. The second will be the release of the consensus algorithm, the software supporting distributed processing of the Factom protocol. We are working to have the first release candidate of the consensus algorithm by the end of the year. We fully expect to release a few release candidates prior to going into production with the consensus algorithm early in 2016."

What that means is:

Both, the Entry-Credit-Store and the first "candidate of the consensus algorithm" will make it easier to get access to the system, with other words: For now I would consider those two aspects as very important to make Factom really useful and attractive. And when it comes to the "when": The next 1-2 months I would guess and Factom is at a point to get traction.

Just this is already a nice step:

* Bitcoin data service of prices from different exchanges recorded on Factom's Blockchain - Q1 2016
https://azure.microsoft.com/en-us/blog/azure-baas-update-2/


Everybody can imagine what would happen, if there should be a also a decision of one or even more exchanges to record trades about Factom. ;-) And that would be just one use case with great demand for EC's and therefore also for FCT's. If we think outside the Crypto-World, and Factom has it all to play a role there... At the moment and out of Incestor-perspective, I would say it has more potential than ETH.

Could you prove the community your trust in this project by showing the amount you are invested in FCT?

[tempus]

The question is not "if", but "when".

Depends on the "what" ;-)

What I really like is: Factom is in it's early stage but right before big steps with Milestone 2. Paul Snow writes:

"Milestone 2 will have a couple of major components. First will be the deployment of a Entry Credit store, where users can buy Entry Credits (basically access to the protocol) without touching any sort of tradable token. The second will be the release of the consensus algorithm, the software supporting distributed processing of the Factom protocol. We are working to have the first release candidate of the consensus algorithm by the end of the year. We fully expect to release a few release candidates prior to going into production with the consensus algorithm early in 2016."

What that means is:

Both, the Entry-Credit-Store and the first "candidate of the consensus algorithm" will make it easier to get access to the system, with other words: For now I would consider those two aspects as very important to make Factom really useful and attractive. And when it comes to the "when": The next 1-2 months I would guess and Factom is at a point to get traction.

Just this is already a nice step:

* Bitcoin data service of prices from different exchanges recorded on Factom's Blockchain - Q1 2016
https://azure.microsoft.com/en-us/blog/azure-baas-update-2/


Everybody can imagine what would happen, if there should be a also a decision of one or even more exchanges to record trades about Factom. ;-) And that would be just one use case with great demand for EC's and therefore also for FCT's. If we think outside the Crypto-World, and Factom has it all to play a role there... At the moment and out of Incestor-perspective, I would say it has more potential than ETH.

Could you prove the community your trust in this project by showing the amount you are invested in FCT?

Why would I do that?

[MonsterZeroPrice]

The question is not "if", but "when".

Depends on the "what" ;-)

What I really like is: Factom is in it's early stage but right before big steps with Milestone 2. Paul Snow writes:

"Milestone 2 will have a couple of major components. First will be the deployment of a Entry Credit store, where users can buy Entry Credits (basically access to the protocol) without touching any sort of tradable token. The second will be the release of the consensus algorithm, the software supporting distributed processing of the Factom protocol. We are working to have the first release candidate of the consensus algorithm by the end of the year. We fully expect to release a few release candidates prior to going into production with the consensus algorithm early in 2016."

What that means is:

Both, the Entry-Credit-Store and the first "candidate of the consensus algorithm" will make it easier to get access to the system, with other words: For now I would consider those two aspects as very important to make Factom really useful and attractive. And when it comes to the "when": The next 1-2 months I would guess and Factom is at a point to get traction.

Just this is already a nice step:

* Bitcoin data service of prices from different exchanges recorded on Factom's Blockchain - Q1 2016
https://azure.microsoft.com/en-us/blog/azure-baas-update-2/


Everybody can imagine what would happen, if there should be a also a decision of one or even more exchanges to record trades about Factom. ;-) And that would be just one use case with great demand for EC's and therefore also for FCT's. If we think outside the Crypto-World, and Factom has it all to play a role there... At the moment and out of Incestor-perspective, I would say it has more potential than ETH.

Could you prove the community your trust in this project by showing the amount you are invested in FCT?

Why would I do that?

If you do that, other investors like me would probably get in this. Very nice for you since you could theoretically exit your position.

[tempus]

The question is not "if", but "when".

Depends on the "what" ;-)

What I really like is: Factom is in it's early stage but right before big steps with Milestone 2. Paul Snow writes:

"Milestone 2 will have a couple of major components. First will be the deployment of a Entry Credit store, where users can buy Entry Credits (basically access to the protocol) without touching any sort of tradable token. The second will be the release of the consensus algorithm, the software supporting distributed processing of the Factom protocol. We are working to have the first release candidate of the consensus algorithm by the end of the year. We fully expect to release a few release candidates prior to going into production with the consensus algorithm early in 2016."

What that means is:

Both, the Entry-Credit-Store and the first "candidate of the consensus algorithm" will make it easier to get access to the system, with other words: For now I would consider those two aspects as very important to make Factom really useful and attractive. And when it comes to the "when": The next 1-2 months I would guess and Factom is at a point to get traction.

Just this is already a nice step:

* Bitcoin data service of prices from different exchanges recorded on Factom's Blockchain - Q1 2016
https://azure.microsoft.com/en-us/blog/azure-baas-update-2/


Everybody can imagine what would happen, if there should be a also a decision of one or even more exchanges to record trades about Factom. ;-) And that would be just one use case with great demand for EC's and therefore also for FCT's. If we think outside the Crypto-World, and Factom has it all to play a role there... At the moment and out of Incestor-perspective, I would say it has more potential than ETH.

Could you prove the community your trust in this project by showing the amount you are invested in FCT?

Why would I do that?

If you do that, other investors like me would probably get in this [Suspicious link removed]d for you since you could theoretically exit your position.

So it's about the question if I try to "write people into this" to dump my FCT's and maybe I have that much that it would crash it? I mean, if I just have 1000 FCT's or even less it would maybe seem as if I don't have much trust in this. At the same time it wouldn't mean anything because I could be out of money but invested with all I have ;-).

If I would have 100k people could have the fear I could crash the market.  I never give precise infos about my investments because I don't see sense in that. And even if you would have exact infos about me, there are a lot of other small and big and bigger Investors you won't have infos about and nobody can predict individual reactions. Tomorrow somebody could buy in with much money, or somebody could dump a lot of FCT's because he needs money out of a personal situation. At the moment the market is no real indicator about the project. In my opinion exactly that is an opportunity.

Generally, in my opinion the decision to invest or not to invest shouldn't be about short-term-market-reactions or individual Investors. What I can say about my view and situation: I won't sell in short term as far as I don't see anything that's totally concerning and there is not a single sign for something like that. I believe that there will be some more good news in short-term, and before all: Great potential in mid-term and long-term.

My advice to everybody is: Research... to take some time to understand it as deep as possible. It can make a huge difference to invest some time.

1. the "what": the idea and the consequences (possible scenarios, best-case, worst-case, what is most likely etc. )
2. the "how": how they do it, it's design, the development
3. the team: professionals? trusted? honest? skilled?


And I really believe that this project is totally underestimated and therefore also undervalued, maybe because too many don't have a good overview about it, so they are not able to evaluate it, based on analyzing it and possible scenarios. The economy seems to be very complex on first sight, so people maybe often don't get how elegant it is and how useful it will be when it comes to use, how it will be possible to be decentralized and without the need for cryptocurrencies for customers etc.

But, like I said: It's just my personal view. Everybody has to make his own decision.

[robinson5]

Hi I haven't checked in on the project in a bit and was wondering how I get my coins off Koinify? Also, the mac wallet doesn't work for me there's no GUI just a FactomApps folder with a lot of exec files (walletapp, factom-cli, factomd, fctwallet).  There is also a StaticFiles folder with a lot of files in it.  Does mac only have the command line wallet for now?

Thanks

You can import your 12 word passphrase from koinify into poloniex.

Thanks so much! Didn't realize that

[OZmaster]

is it time?

[tempus]

what levels does one expect it to pump ... i mean 8 million is a big number ... i dont see it crossing 20 cents

I wouldn't compare it with the typical altcoin-market. At the moment the price is speculation but if the project is successful the price will fluctuate around a computable price (consumption vs. inflation, and EC's are at a fixed price).

But if we compare it, there are several altcoins with a higher supply and also with a higher price. I even believe that the FCT-price would be higher if people would see it more as an altcoin and speculate more on the future potential, like it's typical in the altcoinmarket.


Just one example:

Monero

Supply: 10,414,477
Price: $ 0.500159
Marketcap: $ 5,208,894
All time high: $ 3.5 (June 14)
http://coinmarketcap.com/currencies/monero/


In my opinion, the current marketcap is undervalued.
Factom is at $ 1,195,935, Ethereum is at $ 69,572,009. And ETH has a really hard inflation. That's the main reason why I see some risk in ETH, besides it's complexity. Factom seems to me like a safe haven in comparison, with much potential for higher prices at the same time . And Factom is not in competition with Bitcoin. A Bitcoin hype would bring a lot pressure on the ETH-price and free PR for projects like Factom.