[ANN] FACTOM - Introducing Honesty to Record-Keeping

[MaGNeT]

Somehow, it seems Mircosoft is adding every interested and serious coin to their Azure platform at the moment.
It decreases the value of Factom on Azure platform in my point of view.

Microsoft Adds 5 New Blockchain Partners to Azure.

"...Other new additions to its blockchain testbed, announced in October, include custom blockchain development platform Lisk; digital asset platform BitShares; and alternative blockchain Syscoin. BitPay, Eris Industries and Factom are among a number of previously announced partners..."

http://www.coindesk.com/microsoft-5-blockchain-partners-azure/

I don't think it decreases the value of Factom.
It shows that Microsoft thinks BaaS is the way to go, the future.

More shops in the same street is good for business.

They are all different projects with a different approach.

Factom does 1 thing and it does it very well and in an efficient way.
You can do it on other projects but not this cost effective.

[crazyivan]

Yes, exactly. This is why I hate Polo for letting bots artificially inflate coin prices. But I guess that s industry too, Polo makes money on trade fees so they greet speculators with open arms. The rest of us can follow the wave as I do or gather Factom like hamsters and wait for the next pump.

If you dont like speculation then perhaps you should not buy any asset - crypto or another - and check the price every day, but just buy it and go away for at least a year.

speculation is what thrives the market. A really good speculator has a much more sober view at the true value of an asset than the average joe and is immune to hype, Fud or Fomo. Those are the guys that invest in Apple or Microsoft Shares when nobody else knows what a Home PC is. And FCT, as any other coin, profits from a 500% bubble -even if it deflates later on- much more than if it stays in the lows for months. We can be happy that we had a strong one and look forward to the next one. It shows the interest of the market. There is no linear growth.

I disagree big time. 99% of speculators couldn't care less about Factom or any other coin and its features. All they care about is buy low and sell high, regardless of whether they disrupt the market, create FUD, distort prices or even scare away half of the holders. They just care about one thing and one thing alone, MAKE MORE BTC. Not Factom but BTC. This means they will intentionally stage pumps and dumps to serve their own interests. This pumps and dumps usually end with noobs and new entrants in Factom market losing a lot of money due to artificial volatility created by these speculators. Once these new entrants lose money, they leave Factom market and never come back.

So how is this artificial volatility good for Factom or any other coin? Pls explain it to me, maybe I have missed something along the way. If we take BTC as an example, any serious financial portfolio manager will advice serious investors to stay away from these volatile markets cause they can lose everything in a day. So, until BTC becomes more stable, it ll never be considered as serious asset by the Wall Street and City guys. Why would it be any different with Factom?

There s big difference between growth induced by innovations and overall progress and speculation induced growth.

[BrianDeery]

Here is the World Bank paper and the presentation:


"IMMUTABILITY & AUDITABILITY: THE CRITICAL ELEMENTS IN PROPERTY RIGHTS REGISTRIES"
https://www.conftool.com/landandpoverty2016/index.php/Regan-411-411_paper.pdf?page=downloadPaper&filename=Regan-411-411_paper.pdf&form_id=411&form_version=final


https://www.conftool.com/landandpoverty2016/index.php/Regan-411-411_ppt.pdf?page=downloadPaper&filename=Regan-411-411_ppt.pdf&form_id=411&form_index=2&form_version=final

Abstract:

Epigraph is a blockchain backed property rights management system. Purpose­-built to be a government­-grade system of record for property rights that is (i) trustworthy/secure (ii) auditable and (iii) ubiquitously accessible. Especially relevant to developing countries that lack a sociopolitical foundation of tradition and trust.

Epigraph has identified a recipe of technology assets and methodologies that utilizes blockchain technology to offer an original yet pragmatic solution to an old and chronic problem. A land and property administration registry built using a blockchain backbone creates immutable operational and financial processes, which can secure trillions of dollars in assets; resulting in an enormous social, economic and political impact globally by fulfilling the need for transparency and accountability.

[tempus]

Here is the World Bank paper and the presentation:


"IMMUTABILITY & AUDITABILITY: THE CRITICAL ELEMENTS IN PROPERTY RIGHTS REGISTRIES"
https://www.conftool.com/landandpoverty2016/index.php/Regan-411-411_paper.pdf?page=downloadPaper&filename=Regan-411-411_paper.pdf&form_id=411&form_version=final


https://www.conftool.com/landandpoverty2016/index.php/Regan-411-411_ppt.pdf?page=downloadPaper&filename=Regan-411-411_ppt.pdf&form_id=411&form_index=2&form_version=final

Abstract:

Epigraph is a blockchain backed property rights management system. Purpose­-built to be a government­-grade system of record for property rights that is (i) trustworthy/secure (ii) auditable and (iii) ubiquitously accessible. Especially relevant to developing countries that lack a sociopolitical foundation of tradition and trust.

Epigraph has identified a recipe of technology assets and methodologies that utilizes blockchain technology to offer an original yet pragmatic solution to an old and chronic problem. A land and property administration registry built using a blockchain backbone creates immutable operational and financial processes, which can secure trillions of dollars in assets; resulting in an enormous social, economic and political impact globally by fulfilling the need for transparency and accountability.

Wow, that's awesome!


Edit: I like this part:

"Unlike these traditional software implementations, which are backed by a purely centralized data store, Epigraph’s platform records its data using Factom, an open source, decentralized ledger secured by the Bitcoin blockchain. Factom’s immutable ledger allows Epigraph to write property registry information, which once written, cannot be erased. Guaranteed immutability opens the door to a software architecture that enables and ensure auditability, as data that cannot be modified can safely be made accessible without the risk of illicit changes. Epigraph then delivers this solution via a mobile­friendly, SaaS (Software as a Service) architecture, eliminating the costly capital expenditures typically required to launch and operate a property registry, while putting the application quite literally in the hands of those who need it. Game changed."

[Nxtblg]

Here is the World Bank paper and the presentation:


"IMMUTABILITY & AUDITABILITY: THE CRITICAL ELEMENTS IN PROPERTY RIGHTS REGISTRIES"...

Hey Brian, or Mr. Deery if you prefer ,

Have you and the rest of the team looked into using Factom for proof of identity? That's become an issue, albeit a controversial one, in the U.S. this election season. It occurred to me that using an entry credit to enter a hash of a stable "proof of ID" would be a major service with "yuge" demand these days.

Now, I know that this use is a little off-mission and would be tricky. For example, a hash of a scanned solid-plastic ID card (eg., driver's license) would be thrown off if there were even a teeny scratch on the card. A hash of biometric data like a fingerprint or retinal scan would be thrown off by a small deviation in angle and perspective. And so on.

But hashing, despite those feasibility obstacles, is a provable means to refute the objection to biometric IDing: namely, a government database with all the data just waiting to be 'borrowed'. A hash of (say) a fingerprint scan, retinal scan or DNA analysis would be undecodable, thus protecting privacy. Even if the entire database were 'browsed', the miscreant couldn't make any sense out of the hashes. Nor could any other bad actor.

Have you and the others given any thought to a para-E-Verify system as a proof of concept? Based upon my vague sampling of the political winds, there's a good shot that E-Verify will be made mandatory. And, if you remember the Obamacare-website fustercluck, I think you'll agree with me that the present database used by E-Verify is quite corrupted (in the sense of false data.) Factom having a ready-to-go proof-of-concept replacement system that's provably accurate may be a real fustercluck-stopping help.

Just my thoughts. If it doesn't fit, or if I'm thinking too ambitiously, please let me know. 

[AlanX]

Here is the World Bank paper and the presentation:


"IMMUTABILITY & AUDITABILITY: THE CRITICAL ELEMENTS IN PROPERTY RIGHTS REGISTRIES"...

Hey Brian, or Mr. Deery if you prefer ,

Have you and the rest of the team looked into using Factom for proof of identity? That's become an issue, albeit a controversial one, in the U.S. this election season. It occurred to me that using an entry credit to enter a hash of a stable "proof of ID" would be a major service with "yuge" demand these days.

Identity was the use case I was working on that motivated me to design NotaryChains (which became Factom).   My original idea was to have Factom out of the door by January 2015.   Turns out to be way harder than I gave it credit for.   But we are making some really good progress.

Once we get the protocol stable, Identity is certainly an area we will be working on.  We need it for Factom, after all!

Paul Snow

[AlanX]

Yes, exactly. This is why I hate Polo for letting bots artificially inflate coin prices. But I guess that s industry too, Polo makes money on trade fees so they greet speculators with open arms. The rest of us can follow the wave as I do or gather Factom like hamsters and wait for the next pump.

If you dont like speculation then perhaps you should not buy any asset - crypto or another - and check the price every day, but just buy it and go away for at least a year.

speculation is what thrives the market. A really good speculator has a much more sober view at the true value of an asset than the average joe and is immune to hype, Fud or Fomo. Those are the guys that invest in Apple or Microsoft Shares when nobody else knows what a Home PC is. And FCT, as any other coin, profits from a 500% bubble -even if it deflates later on- much more than if it stays in the lows for months. We can be happy that we had a strong one and look forward to the next one. It shows the interest of the market. There is no linear growth.

I disagree big time. 99% of speculators couldn't care less about Factom or any other coin and its features. All they care about is buy low and sell high, regardless of whether they disrupt the market, create FUD, distort prices or even scare away half of the holders. They just care about one thing and one thing alone, MAKE MORE BTC. Not Factom but BTC. This means they will intentionally stage pumps and dumps to serve their own interests. This pumps and dumps usually end with noobs and new entrants in Factom market losing a lot of money due to artificial volatility created by these speculators. Once these new entrants lose money, they leave Factom market and never come back.

So how is this artificial volatility good for Factom or any other coin? Pls explain it to me, maybe I have missed something along the way. If we take BTC as an example, any serious financial portfolio manager will advice serious investors to stay away from these volatile markets cause they can lose everything in a day. So, until BTC becomes more stable, it ll never be considered as serious asset by the Wall Street and City guys. Why would it be any different with Factom?

There s big difference between growth induced by innovations and overall progress and speculation induced growth.

This is why we concentrate on the protocol, and applications of the protocol.  There is nothing we can do about the price of the token anyway.  But we can deliver code.

I can't lie and say that the token price doesn't drive some interest to what we are doing though.   But the way Factom is designed, inflation kicks in if there is too much speculation, and deflation kicks in if the speculators drive the price too low.   Because the tokens are consumed by use of the protocol, the price over the long haul should be stabilized by applications using Factom.

[bandofgypsys]

Yes, exactly. This is why I hate Polo for letting bots artificially inflate coin prices. But I guess that s industry too, Polo makes money on trade fees so they greet speculators with open arms. The rest of us can follow the wave as I do or gather Factom like hamsters and wait for the next pump.

If you dont like speculation then perhaps you should not buy any asset - crypto or another - and check the price every day, but just buy it and go away for at least a year.

speculation is what thrives the market. A really good speculator has a much more sober view at the true value of an asset than the average joe and is immune to hype, Fud or Fomo. Those are the guys that invest in Apple or Microsoft Shares when nobody else knows what a Home PC is. And FCT, as any other coin, profits from a 500% bubble -even if it deflates later on- much more than if it stays in the lows for months. We can be happy that we had a strong one and look forward to the next one. It shows the interest of the market. There is no linear growth.

I disagree big time. 99% of speculators couldn't care less about Factom or any other coin and its features. All they care about is buy low and sell high, regardless of whether they disrupt the market, create FUD, distort prices or even scare away half of the holders. They just care about one thing and one thing alone, MAKE MORE BTC. Not Factom but BTC. This means they will intentionally stage pumps and dumps to serve their own interests. This pumps and dumps usually end with noobs and new entrants in Factom market losing a lot of money due to artificial volatility created by these speculators. Once these new entrants lose money, they leave Factom market and never come back.

So how is this artificial volatility good for Factom or any other coin? Pls explain it to me, maybe I have missed something along the way. If we take BTC as an example, any serious financial portfolio manager will advice serious investors to stay away from these volatile markets cause they can lose everything in a day. So, until BTC becomes more stable, it ll never be considered as serious asset by the Wall Street and City guys. Why would it be any different with Factom?

There s big difference between growth induced by innovations and overall progress and speculation induced growth.

This is why we concentrate on the protocol, and applications of the protocol.  There is nothing we can do about the price of the token anyway.  But we can deliver code.

I can't lie and say that the token price doesn't drive some interest to what we are doing though.   But the way Factom is designed, inflation kicks in if there is too much speculation, and deflation kicks in if the speculators drive the price too low.   Because the tokens are consumed by use of the protocol, the price over the long haul should be stabilized by applications using Factom.

Is my math correct? Current price, btc .0050903 roughly $2.10 = 2100 EC. If servers were online 75k tokens per month would generate at this price $157 500.00 you'd need to have 157,500 000 entries to burn that amount.

Do you guys have use cases that require millions of EC's per month? just curious:)

[dealeris]

Hello, Guys,

I'm looking for major FCT holders for the purpose of doing OTC(over the counter) deals to acquire this currency without moving market prices at exchanges.
I'll start buying April/May on behalf of my clients and continue to do so for at least a year.

If you are interested, send me a pm or an email, with these details:
Minimum amount i could buy from you, maximum amount i could buy in one operation, your preferred payment method and how to get in touch with you.

[MyFarm]

Is my math correct? Current price, btc .0050903 roughly $2.10 = 2100 EC. If servers were online 75k tokens per month would generate at this price $157 500.00 you'd need to have 157,500 000 entries to burn that amount.

Do you guys have use cases that require millions of EC's per month? just curious:)

When the Factom explorer went live on 09-01 there were about 8759965.42635400 factoids.  Now there are
8753230.36770280.

So around 6700 burned in a little more than 6 months or about 1000 per month.  And not much is going on but testing.

Point being, I suspect we'll be seeing deflation before too long despite the 73,000 factoids being created per month.

[bandofgypsys]

Is my math correct? Current price, btc .0050903 roughly $2.10 = 2100 EC. If servers were online 75k tokens per month would generate at this price $157 500.00 you'd need to have 157,500 000 entries to burn that amount.

Do you guys have use cases that require millions of EC's per month? just curious:)

When the Factom explorer went live on 09-01 there were about 8759965.42635400 factoids.  Now there are
8753230.36770280.

So around 6700 burned in a little more than 6 months or about 1000 per month.  And not much is going on but testing.

Point being, I suspect we'll be seeing deflation before too long despite the 73,000 factoids being created per month.

I agree on the deflationary period. I do believe this is a great project.  EC'S are incredibly inexpensive. As a business model it gives Factom a great advantage. They will do well on fees to implement programs on top of factom.  The subscription fees for docusign, etc are very very expensive in comparison.

Unless there are industries, govt branches, etc that produce millions of entries per day, week per month the deflationary period could be years.

EDIT!! Below added.

How about this you have a very limited supply of servers, why not let the FCT holders purchase server space. Before they come online. Kind of like a server space ICO/IPO in this case ISS (initial server space lol).

It seems like to good of a deal for those who run servers to reap all the FCT amongst them.

[bandofgypsys]

Hello, Guys,

I'm looking for major FCT holders for the purpose of doing OTC(over the counter) deals to acquire this currency without moving market prices at exchanges.
I'll start buying April/May on behalf of my clients and continue to do so for at least a year.

If you are interested, send me a pm or an email, with these details:
Minimum amount i could buy from you, maximum amount i could buy in one operation, your preferred payment method and how to get in touch with you.

You should present ppl with an escrow option, i'm very skeptical of your presentation over many coins.

[crazyivan]

Is my math correct? Current price, btc .0050903 roughly $2.10 = 2100 EC. If servers were online 75k tokens per month would generate at this price $157 500.00 you'd need to have 157,500 000 entries to burn that amount.

Do you guys have use cases that require millions of EC's per month? just curious:)

When the Factom explorer went live on 09-01 there were about 8759965.42635400 factoids.  Now there are
8753230.36770280.

So around 6700 burned in a little more than 6 months or about 1000 per month.  And not much is going on but testing.

Point being, I suspect we'll be seeing deflation before too long despite the 73,000 factoids being created per month.

ATM, there s no 73k Factoids created per month. Current inflation s 0. This inflation scenario will kick in the future to balance supply and demand.

[crazyivan]

Hello, Guys,

I'm looking for major FCT holders for the purpose of doing OTC(over the counter) deals to acquire this currency without moving market prices at exchanges.
I'll start buying April/May on behalf of my clients and continue to do so for at least a year.

If you are interested, send me a pm or an email, with these details:
Minimum amount i could buy from you, maximum amount i could buy in one operation, your preferred payment method and how to get in touch with you.

Clear pumper and scammer. He posted the same text to several other forums, I presume only coins he s been holding to try to create fake pumps. This is what I mean when I say I hate speculators, they are SLIME of crypto. I advise BIG TIME CAUTION when dealing with these kind of people.

[crazyivan]

Yes, exactly. This is why I hate Polo for letting bots artificially inflate coin prices. But I guess that s industry too, Polo makes money on trade fees so they greet speculators with open arms. The rest of us can follow the wave as I do or gather Factom like hamsters and wait for the next pump.

If you dont like speculation then perhaps you should not buy any asset - crypto or another - and check the price every day, but just buy it and go away for at least a year.

speculation is what thrives the market. A really good speculator has a much more sober view at the true value of an asset than the average joe and is immune to hype, Fud or Fomo. Those are the guys that invest in Apple or Microsoft Shares when nobody else knows what a Home PC is. And FCT, as any other coin, profits from a 500% bubble -even if it deflates later on- much more than if it stays in the lows for months. We can be happy that we had a strong one and look forward to the next one. It shows the interest of the market. There is no linear growth.

I disagree big time. 99% of speculators couldn't care less about Factom or any other coin and its features. All they care about is buy low and sell high, regardless of whether they disrupt the market, create FUD, distort prices or even scare away half of the holders. They just care about one thing and one thing alone, MAKE MORE BTC. Not Factom but BTC. This means they will intentionally stage pumps and dumps to serve their own interests. This pumps and dumps usually end with noobs and new entrants in Factom market losing a lot of money due to artificial volatility created by these speculators. Once these new entrants lose money, they leave Factom market and never come back.

So how is this artificial volatility good for Factom or any other coin? Pls explain it to me, maybe I have missed something along the way. If we take BTC as an example, any serious financial portfolio manager will advice serious investors to stay away from these volatile markets cause they can lose everything in a day. So, until BTC becomes more stable, it ll never be considered as serious asset by the Wall Street and City guys. Why would it be any different with Factom?

There s big difference between growth induced by innovations and overall progress and speculation induced growth.

This is why we concentrate on the protocol, and applications of the protocol.  There is nothing we can do about the price of the token anyway.  But we can deliver code.

I can't lie and say that the token price doesn't drive some interest to what we are doing though.   But the way Factom is designed, inflation kicks in if there is too much speculation, and deflation kicks in if the speculators drive the price too low.   Because the tokens are consumed by use of the protocol, the price over the long haul should be stabilized by applications using Factom.

Great, I fully agree with this. Can we have some tentative deadline for Milestone 2? Are we still on track for the end of the first quarter?

[dealeris]

Hello, Guys,

I'm looking for major FCT holders for the purpose of doing OTC(over the counter) deals to acquire this currency without moving market prices at exchanges.
I'll start buying April/May on behalf of my clients and continue to do so for at least a year.

If you are interested, send me a pm or an email, with these details:
Minimum amount i could buy from you, maximum amount i could buy in one operation, your preferred payment method and how to get in touch with you.

You should present ppl with an escrow option, i'm very skeptical of your presentation over many coins.

I am willing to use escrow or pay first to reputable members - this should not be a problem.

[Mrboot]

Hello, Guys,

I'm looking for major FCT holders for the purpose of doing OTC(over the counter) deals to acquire this currency without moving market prices at exchanges.
I'll start buying April/May on behalf of my clients and continue to do so for at least a year.

If you are interested, send me a pm or an email, with these details:
Minimum amount i could buy from you, maximum amount i could buy in one operation, your preferred payment method and how to get in touch with you.

You should present ppl with an escrow option, i'm very skeptical of your presentation over many coins.

I am willing to use escrow or pay first to reputable members - this should not be a problem.

and what price are you paying compared to market price

[BrianDeery]

https://energycommerce.house.gov/hearings-and-votes/hearings/disputer-series-digital-currency-and-block-chain-technology

https://www.youtube.com/watch?v=wIGo9bpPV3A

[MyFarm]

https://energycommerce.house.gov/hearings-and-votes/hearings/disputer-series-digital-currency-and-block-chain-technology

https://www.youtube.com/watch?v=wIGo9bpPV3A

Wow.  Can someone please record his testimony please?

[whiteorg72]

Paul Snow Testifying before U.S. Congress.
Disrupter Series: Digital Currency and Blockchain Technology.
The Energy and Commerce Committee.
Wednesday, March 16, 2016 - 11:00am
https://energycommerce.house.gov/hearings-and-votes/hearings/disputer-series-digital-currency-and-block-chain-technology
https://www.youtube.com/watch?v=wIGo9bpPV3A (Live broadcast ended)