[ANN] FACTOM - Introducing Honesty to Record-Keeping

[MyFarm]

This is an exciting commit: https://github.com/FactomProject/Testing

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[MyFarm]

Anyone notice this commit?

https://github.com/FactomProject/CarvoyantDummyCode

[crazyivan]

This is an exciting commit: https://github.com/FactomProject/Testing

It does seem M2 s really close. How close, what do you think?

[flashbit]

This is an exciting commit: https://github.com/FactomProject/Testing

It does seem M2 s really close. How close, what do you think?

What do you think? Have you lost the faith or are you just 'crazy' ivan?

[cloverme]

Does someone have a good vision/roadmap for factom? I've started to follow it somewhat, but it's got that caravan of gypsies feel to it, so I'm not sure what are the next milestones for it. That being said, I did pick some up following the DHS article, so I'm curious "what's next" for it.

[flashbit]

Does someone have a good vision/roadmap for factom? I've started to follow it somewhat, but it's got that caravan of gypsies feel to it, so I'm not sure what are the next milestones for it. That being said, I did pick some up following the DHS article, so I'm curious "what's next" for it.

Milestone 2. Read the forum and all your questions will be answered. Focus on Tempus comments.

[haggis]

I just stumbled about this page thanks to a youtube link of Tempus on Polo:

https://bnktothefuture.com/pitches/factom-series-a

Does anyone have more information what this is about? For me, it looks like they are selling shares of their company (how many %?) and will get handet out at least $4.5m in about 4 weeks.

When did this funding start?

[tempus]

Somebody posted this on Twitter:

Factom Series 'A' - Making The World's Systems Honest
https://bnktothefuture.com/pitches/2982

For those who are new to Factom it's a good entry to understand the project. And one video is even new:

FACTOM BnkToTheFuture.com Pitch - Public Page
https://www.youtube.com/watch?v=n15R1Kkqosc

A very good explaining video. Peter Kirby answers some basic question what Factom is about and what problems it solves.

Most interesting in my opinion: Back in December they've said in a blog-post that the Land-title-registry-project in Honduras would stall. But since then there were some little signs that there is progress again. Paul Snow said in an interview (march if I'm correct) that the negotiations are going on and used the word "progress". Peter Kirby explains land-title-registry in the video and says "we're doing this with a country in central america". He doesn't say "We've tried this (...)".

Why I say that: Some believed to see a sign in the "stalled-post" that Factom would have failed regarding Honduras. I believe the opposite could be true. That it's the politics there that delays or delayed progress - but that there is progress again.


And why I believe that there may be reasons to be optimistic is maybe not even that much about Factom. It's more because of the situation in Honduras. Sometimes I google "Honduras + land title registry" without including Factom, just to see if there are any kind of news about the land-title-subject in general. And it's always about problems they have. A recent article gives a good overview about the situation there:


Despite an estimated one million unregistered plots of land in urban areas, over the past ten years, the Property Institute has only registered an average of 4,500 annually. The process of registering and titling land is long and complex, and sometimes stalls completely.  In 2015 and the beginning of 2016 the Property Institute delivered no titles at all.

The uncertainty of living in an unregistered home drastically affects the urban poor, who without a title, face the risk of losing their homes.

“Many of these people have lived on the property for a long time and are elderly now,” said Anajansi Alvarado, an auditor and investigator with AJS’s Land Rights project. “If they die there is no guarantee that their family will inherit their property.”

https://www.ajs-us.org/content/639-new-land-titles-promise-security-and-opportunity



And what does that mean? It's pure pressure. It's not even "just" about uncertainty and in worst case losing land and homes. It affects a lot and  that also means that there must be high intentions in Honduras to change that situation - on the other side there may be also a lot of corruption. I'm not good informed about Honduras, but that's how it is often. But I believe Paul Snow will be right with his saying "Honesty is subversive". It's possible that Honduras could be one of the first examples to prove him right.

So, not saying there will be signed contract next week or next month and it's speculative what I write here. But I doubt they would use it as example if there wouldn't be anything to say about. I believe it's the opposite: That there is a lot they could talk about, but they can't because of non-disclosure agreements.

[tempus]

I just stumbled about this page thanks to a youtube link of Tempus on Polo:

https://bnktothefuture.com/pitches/factom-series-a

Does anyone have more information what this is about? For me, it looks like they are selling shares of their company (how many %?) and will get handet out at least $4.5m in about 4 weeks.

When did this funding start?

Kind of funny is: Just wrote the post above about the same site but didn't even recognized that it's also about investing.
Was totally focused on the new video. ;-)

But you could be right. Looks as if they will get about $4.5 Mio.

Two interesting points there:

1. 27 days remaining and already 98% filled
2. Factom is on the first place. No other company comes close to them:

https://bnktothefuture.com/search/pitches

[jacaf01]

I just stumbled about this page thanks to a youtube link of Tempus on Polo:

https://bnktothefuture.com/pitches/factom-series-a

Does anyone have more information what this is about? For me, it looks like they are selling shares of their company (how many %?) and will get handet out at least $4.5m in about 4 weeks.

When did this funding start?

Kind of funny is: Just wrote the post above about the same site but didn't even recognized that it's also about investing.
Was totally focused on the new video. ;-)

But you could be right. Looks as if they will get about $4.5 Mio.

Two interesting points there:

1. 27 days remaining and already 98% filled
2. Factom is on the first place. No other company comes close to them:

https://bnktothefuture.com/search/pitches

98%  of the money funded so far with 27 days left, this is a great news for the community. The good thing about factom is that they don't believe in all this media hype they let their works speak for themselves. This is what I like about them since they know they have a solid fundamental to build on but the downside of this makes their token really undervalue compare to some token with little or nothing to offer compared to factom that have started solving real life problems and winning contracts, how many of these Altcoins can boost of this.

[kingscloak]

I just stumbled about this page thanks to a youtube link of Tempus on Polo:

https://bnktothefuture.com/pitches/factom-series-a

Does anyone have more information what this is about? For me, it looks like they are selling shares of their company (how many %?) and will get handet out at least $4.5m in about 4 weeks.

When did this funding start?

Kind of funny is: Just wrote the post above about the same site but didn't even recognized that it's also about investing.
Was totally focused on the new video. ;-)

But you could be right. Looks as if they will get about $4.5 Mio.

Two interesting points there:

1. 27 days remaining and already 98% filled
2. Factom is on the first place. No other company comes close to them:

https://bnktothefuture.com/search/pitches




Very interesting indeed.  So 17% company equity for $5,000,000?  By my math, that sets company valuation at roughly $29,500,000.  Assuming this is correct, I wonder who estimated Factom to be worth $29,500,000 and exactly how this value was derived?

[tempus]

Very interesting indeed.  So 17% company equity for $5,000,000?  By my math, that sets company valuation at roughly $29,500,00.  Assuming this is correct, I wonder who estimated Factom to be worth $29,500,000 and exactly how this value was derived?
 

Exactly it's (if I'm correct):

€4,493,170 - 17%

€26,430,411 - 100%

Wow, just see that it's in Euro. Didn't recognize. So you are nearly right.

In Dollar it would be $ 29.169.923 - if I didn't make a mistake.
https://bnktothefuture.com/pitches/factom-series-a


I can only guess/speculate how it's evaluated. Maybe they sit together with Bank of the Future and analyze all what's there and how much it could be worth. I doubt that it's possible to do it totally objective. I mean, how to evaluate the code for the system...

But maybe bigger VC-Investors get deeper informations about how it was evaluated and they can decide if they agree or not - if not, they don't invest. It's also possible that they already got offers to sell the whole company and maybe there were offers in that range. I don't believe it because most likely there are not many who would be able to overtake Factom, but it's possible because it's not that rare that a team or sometimes just one person builds a start-up and sells it in the early days.

But, please no misconceptions: I'm speaking about evaluations not that they really would sell the company. Hope they will never do that.

Some months ago it was this:

Blockchain Project Factom Raises $400k at $11 Million Valuation
http://www.coindesk.com/blockchain-factom-400-funding-11-million-valuatoin/

And I believe it's a very positive sign that it's value has nearly tripled since that. Even more if they give deeper infos to potential VC-Investors. The fact that the $4.5 Mio is nearly filled long before the deadline, could be seen as a sign that Investors agree that Factom is worth the $29 Mio and they see potential for more. They wouldn't buy if they wouldn't believe in it. In best case VC-Investors have some facts we don't know about yet. It's highly speculative, but if that should be the case it's about good news yet to come.

If I'm wrong it's at least obvious that there are VC-Investors who believe in Factoms future. And why not. It may be a risk, but it could be great "bet". If I would be rich I also would try to get shares, not "just" Factoids - even if I think that Factoids are also a great Investment maybe even better.

And what's also interesting: The value of Factom as company and the value of Factoids will be connected in future. Most likely never totally, but Factom's value (as a company) also will depend on how much the system will be used. Maybe they also sell applications they develop for companies but it would be basically the same. It would be (maybe already 'is') about customized applications for customers to use the system as effective as possible - for a specific use case.

All together: A lot of good signs lately. Nothing that's totally safe yet, but I can't think of realistic bad scenarios while they are obviously wanted regarding VC-money, are awarded from DHS, etc. And I really like it to see that Peter Kirby speaks about land-title-registry in that way.

[DrkLvr_]

Factom is total bullshit. They keep promising "M2" yet they deliver nothing.. and give no updates whatsoever. They've always got their arms open for more money though

- Public fundraising offering last year
- ICO
- Kept 50% of ICO coins and dump it on the crypto "community" after hyping it on chinese exchanges
- get money from Azure
- get money from Department of Homeland Security
- now ANOTHER public offering

This thread is only used to generate more hype for this shit token whose developers only know how to collect money

[Azael]

Factom series A completed at a $29.1 million valuation, and FCT is trading at $14.2 million market cap. How long before traders realize that? Last time when it was trading at around $1m market cap it took the market 4 months to catch up to the old $11.8 million valuation.


Anyway congratulations to everyone who stuck around and congratulations to Factom team!

[Azael]

There's a major shakeout on Poloniex right now and I'm excited to see where it ends up today. I'm expecting some hardcore FUD to be thrown around just because traders want a good entry or downplay the fact that Factom is valued at $29.1 mil while trading at $14.2 mil so they can get in.

[Azael]

Factom is total bullshit. They keep promising "M2" yet they deliver nothing.. and give no updates whatsoever. They've always got their arms open for more money though

- Public fundraising offering last year
- ICO
- Kept 50% of ICO coins and dump it on the crypto "community" after hyping it on chinese exchanges
- get money from Azure
- get money from Department of Homeland Security
- now ANOTHER public offering

This thread is only used to generate more hype for this shit token whose developers only know how to collect money

Well updated here: https://github.com/FactomProject if you can read through the code then do and if you can't take the time to then you have no right to complain.


They are one of the most well funded alt startups. Why is that a problem? They need capital until they have a finished product. Do you think that $4.4 million raised means they will all line their pockets with that money? That's only with shitcoin IPOs. Founders get rich when their company gets sold and not during the initial crowdsales to sustain operations. And yes there is Seed and a A, B and C round.. so if you dislike that they raise capital to pay their workforce or for expansion then you should absolutely get out.

And then you throw some unsubstantiated allegations that you need to back up before I adress them..

Azure/DHS is also a bad thing according to you? Alright then lol.. The hell...  

[Azael]

Factom is total bullshit. They keep promising "M2" yet they deliver nothing.. and give no updates whatsoever. They've always got their arms open for more money though

- Public fundraising offering last year
- ICO
- Kept 50% of ICO coins and dump it on the crypto "community" after hyping it on chinese exchanges
- get money from Azure
- get money from Department of Homeland Security
- now ANOTHER public offering

This thread is only used to generate more hype for this shit token whose developers only know how to collect money

Well updated here: https://github.com/FactomProject if you can read through the code then do and if you can't take the time to then you have no right to complain.


They are one of the most well funded alt startups. Why is that a problem? They need capital until they have a finished product. Do you think that $4.4 million raised means they will all line their pockets with that money? That's only with shitcoin IPOs. Founders get rich when their company gets sold and not during the initial crowdsales to sustain operations. And yes there is Seed and a A, B and C round.. so if you dislike that they raise capital to pay their workforce or for expansion then you should absolutely get out.

And then you throw some unsubstantiated allegations that you need to back up before I adress them..

Azure/DHS is also a bad thing according to you? Alright then lol.. The hell...  

And well... good luck with that short position if you hold it come tomorrow when the news of this gets out.. make sure you don't play with more than you can afford to lose.

[DrkLvr_]

Factom is total bullshit. They keep promising "M2" yet they deliver nothing.. and give no updates whatsoever. They've always got their arms open for more money though

- Public fundraising offering last year
- ICO
- Kept 50% of ICO coins and dump it on the crypto "community" after hyping it on chinese exchanges
- get money from Azure
- get money from Department of Homeland Security
- now ANOTHER public offering

This thread is only used to generate more hype for this shit token whose developers only know how to collect money

Well updated here: https://github.com/FactomProject if you can read through the code then do and if you can't take the time to then you have no right to complain.


They are one of the most well funded alt startups. Why is that a problem? They need capital until they have a finished product. Do you think that $4.4 million raised means they will all line their pockets with that money? That's only with shitcoin IPOs. Founders get rich when their company gets sold and not during the initial crowdsales to sustain operations. And yes there is Seed and a A, B and C round.. so if you dislike that they raise capital to pay their workforce or for expansion then you should absolutely get out.

And then you throw some unsubstantiated allegations that you need to back up before I adress them..

Azure/DHS is also a bad thing according to you? Alright then lol.. The hell...  

The paid workforce is busy doing what? They can't even provide a useful update to M2? They are months past their self-imposed deadline and they expect people should have to go read the github code? What a joke

[tempus]

Factom is total bullshit. They keep promising "M2" yet they deliver nothing.. and give no updates whatsoever. They've always got their arms open for more money though

- Public fundraising offering last year
- ICO
- Kept 50% of ICO coins and dump it on the crypto "community" after hyping it on chinese exchanges
- get money from Azure
- get money from Department of Homeland Security
- now ANOTHER public offering

This thread is only used to generate more hype for this shit token whose developers only know how to collect money

Well updated here: https://github.com/FactomProject if you can read through the code then do and if you can't take the time to then you have no right to complain.


They are one of the most well funded alt startups. Why is that a problem? They need capital until they have a finished product. Do you think that $4.4 million raised means they will all line their pockets with that money? That's only with shitcoin IPOs. Founders get rich when their company gets sold and not during the initial crowdsales to sustain operations. And yes there is Seed and a A, B and C round.. so if you dislike that they raise capital to pay their workforce or for expansion then you should absolutely get out.

And then you throw some unsubstantiated allegations that you need to back up before I adress them..

Azure/DHS is also a bad thing according to you? Alright then lol.. The hell...  

The paid workforce is busy doing what? They can't even provide a useful update to M2? They are months past their self-imposed deadline and they expect people should have to go read the github code? What a joke

If you are invested ---> sell ;-)

[DrkLvr_]

Yeah really great informative argument