[ANN] FACTOM - Introducing Honesty to Record-Keeping

[CocoLibre]

Ancun usage still rising, from less than 1k to almost 50k+ in a few days; we could see a big uptick in usage from prior china MOUs into Q4

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[tempus]

Ancun usage still rising, from less than 1k to almost 50k+ in a few days; we could see a big uptick in usage from prior china MOUs into Q4

Oh wow! That's really great. It's a first sign for that what I believe will happen in big in future. Until now I believe that most if it is testing. But it seems that this could be more than that.

If Factom will work how planned - and I really have no rational doubt - we'll see an explosion of entries. And that will be an ongoing buy-signal like increasing prices. But contrary to prices Entries won't go back down. In best case Factom can grow and grow for years. If that should happen nobody will know when to sell.

[crazyivan]

I have to say this DOES look very interesting, it cannot be only testing. If this continues, the number of Factoids ll go down too making them more scarce, at least for now.
Will follow this closely in the next days and weeks.

[matt608]

WOW look at that increase yesterday! :0

[D-Lux]

In best case Factom can grow and grow for years. If that should happen nobody will know when to sell.

Yeah, aside from saying FCT is underpriced atm, I think it's hard to tell what would be a more accurate market cap, actually. At what point would FCT be overbought? I have my sell orders beginning at several multiples the current price, but have been going through an inner debate, trying to think honestly about FCT's long-term potential, and even those sell orders might be too low. Hmm. I guess this is to say that I don't think FCT "price discovery" has happened in a meaningful way yet. Curious to see what happens when people ultimately catch on.

I realize this may seem overly optimistic to some, but my own estimate about a more reasonable, post-discovery market cap is in the 500m - 1b range. Curious what others think ...? 50m? 5b? What happens when everyone knows about FCT?

[tempus]

In best case Factom can grow and grow for years. If that should happen nobody will know when to sell.

Yeah, aside from saying FCT is underpriced atm, I think it's hard to tell what would be a more accurate market cap, actually. At what point would FCT be overbought? I have my sell orders beginning at several multiples the current price, but have been going through an inner debate, trying to think honestly about FCT's long-term potential, and even those sell orders might be too low. Hmm. I guess this is to say that I don't think FCT "price discovery" has happened in a meaningful way yet. Curious to see what happens when people ultimately catch on.

I realize this may seem overly optimistic to some, but my own estimate about a more reasonable, post-discovery market cap is in the 500m - 1b range. Curious what others think ...? 50m? 5b? What happens when everyone knows about FCT?

Until now and also for some time in the future, the price is just a result of that what I call a psychological market. It's betting on the future. Some bet for longterm, some for a week or just 24 hours. But with a longterm-focus it's possible to think in objective future scenarios from worst-case to very optimistic and to do that with different calculations about possible demand-scenarios.

But in any case the psychological market always will play a role. And for the past since launch and until now and also the next time, it's only about that. So it's always about the reactions of Investors/Speculators/Traders etc. Some of them, the minority, is longterm-focused. The minority already has made enough research to understand Factom. A minority understands that a lack of short-term-signals is not a bad sign if it's seen in the context of all the good signs we get for longterm. But to see that it also needs research, and to follow Factom.

Compared with other projects Factom did not get much attention etc. And exactly that is also seen as bad sign while it is in fact potential - room to grow if, again: focus on the context. Safe to say is: It won't be boring. We constantly got good news in the past. That also had an increasing dynamic and I believe it will continue to increase. But because there is not that much attention, the price doesn't react like a rocket how it would be in some other projects. Imagine Ethereum and DHS or Ethereum and Smart Cities. That would be like an explosion (subtract the DAO mess and the HF for now )

Will the increasing tendency stop? Just if Factom should fall into sleep - and that won't happen. It's much more likely that attention and identification will increase very sharp at some point - and the price would follow and hype.


The question than would be again: Is it overbought? In relation to demand at that time it's safe to say: yes. But for the future after M3 and when it gets traction? I don't believe that. The potential is extreme in my opinion.

 
And a few minutes ago I've started the new video with Tiana Laurence:

IDC Q2 2016 S4 Disruptive Infrastructure Solutions
https://www.youtube.com/watch?v=w_gPYSaZAfE&feature=youtu.be&t=15m45s


After seeing the first minutes I believe it's damn cheap right now. I'm not sure how to interpret something she says there. That's why I won't make guesses here right now. But there is something that is interesting.

[matt608]

 
And a few minutes ago I've started the new video with Tiana Laurence:

IDC Q2 2016 S4 Disruptive Infrastructure Solutions
https://www.youtube.com/watch?v=w_gPYSaZAfE&feature=youtu.be&t=15m45s


After seeing the first minutes I believe it's damn cheap right now. I'm not sure how to interpret something she says there. That's why I won't make guesses here right now. But there is something that is interesting.

She says theres 27 people working there. LoL the price right now is a joke.  She is also very well spoken an excellent member of the team herself.

[tempus]

 
And a few minutes ago I've started the new video with Tiana Laurence:

IDC Q2 2016 S4 Disruptive Infrastructure Solutions
https://www.youtube.com/watch?v=w_gPYSaZAfE&feature=youtu.be&t=15m45s


After seeing the first minutes I believe it's damn cheap right now. I'm not sure how to interpret something she says there. That's why I won't make guesses here right now. But there is something that is interesting.

She says theres 27 people working there. LoL the price right now is a joke.  She is also very well spoken an excellent member of the team herself.

Yes, but there is something that is more interesting. I just really don't know how exactly it's meant and how to interpret it. At about 18.30 she speaks about Bitcoin first, 7 transactions per second and scaling problem. Than she speaks about Factom and says:

"But we have customers that come to us and say 'hey, we got a trillion transactions a day that we want to secure (...)'"



Question is if she just speaks more theoretically about what is theoretically possible or if they really talk to (potential) customers who have to think in that numbers. I don't know enough about all those things. I mean, Visa handles about 180 Mio transactions a day and there are services whit numbers in the billions. But what could be about a trillion?

Next question is if transactions in that example would be the same as entries.

But, if she doesn't make a mistake there and if it's about a real scenario and not just a theoretical example:
She also uses the word "customers" - Plural.

I really don't know how to interpret it, but in best case they talk to (potential?) customers, more than just one, who think in trillions. Again, I doubt that it means entries. That would be very high costs if the price for entry credits wouldn't be reduced - which is possible. But with more than just one "big-data-customer" it's most likely more than just possible that it could be about billions of entries for Factom - per day.

And what I sometimes used as kind of best-case-example is the dropbox-upload-number. Dropbox has about 1 bn uploads each day. Maybe even more now because that number is old. And it's just one cloud-service and uploads are slow. So, it might be possible. I really don't know.

But what I'm sure about since I began to understand what this is about: Factom won't be about something in the middle with 20 customers who have to handle just 10k entries each. I believe that Factom, if high quality and successful, will be about very large numbers and it can be used for everything, all kinds of data. And there is no lack of important and time dependent data in this world. 

For the Factoid-price there are "just" two important questions:

1. Quality of the system
2. Demand

But even if we can't know about how much demand it will be in future, I believe it's realistic to say: If point 1 will be positive, point 2 will be high.

Thing is: Factom won't give much if any informations about that until there is something safe to say. Every word would be hype. So we have to wait. But it won't be boring.

[jokkkk]

hello does anybody know when you use factoidpapermill where you can check your balance on that adress?
thanks!

[tempus]

hello does anybody know when you use factoidpapermill where you can check your balance on that adress?
thanks!

Just copy + paste the address here (search): http://explorer.factom.org

[greentea]

New numbers are out and Ancun entries continues to rise...

This bodes well!

https://docs.google.com/spreadsheets/d/1RUZLxxoAfT3C5jIJ144DLYdztYe_sqrKqbTlZuD05-s/edit#gid=445871101

[MyFarm]

New numbers are out and Ancun entries continues to rise...

This bodes well!

https://docs.google.com/spreadsheets/d/1RUZLxxoAfT3C5jIJ144DLYdztYe_sqrKqbTlZuD05-s/edit#gid=445871101

Wow, good stuff.  30 days x 50,000 entries = 1,500,000 entries per month if those numbers simply stay static.

[CocoLibre]

New numbers are out and Ancun entries continues to rise...

This bodes well!

https://docs.google.com/spreadsheets/d/1RUZLxxoAfT3C5jIJ144DLYdztYe_sqrKqbTlZuD05-s/edit#gid=445871101

Wow, good stuff.  30 days x 50,000 entries = 1,500,000 entries per month if those numbers simply stay static.

Exactly, so far the only entries being put into the system have been test cases and POCs from various MOUs signed in early 2016. Once we start to see real business operations being recorded into the system the usage chart will start to show serious exponential growth.

[ohsupgurl]

Curious, I can't actually read that article stating FCT is valued at 30 million because I'm in the States, but is that 30 million based off of the time of the article and it will probably be higher once the round is over (13th I think?), or 30 million total.

[greentea]

Curious, I can't actually read that article stating FCT is valued at 30 million because I'm in the States, but is that 30 million based off of the time of the article and it will probably be higher once the round is over (13th I think?), or 30 million total.

You can use a proxy to view if your in the states:
https://hide.me/en/proxy

[jokkkk]

hello does anybody know when you use factoidpapermill where you can check your balance on that adress?
thanks!

Just copy + paste the address here (search):

hello tempus i am new to this and i made a offline adress with private key and send factoids to this adress from poloniex.
But when i put this adress into the explorer than i get 404 Oops! The page you're looking for cannot be found.
Do you know how i can look at my balance in this adress?
Thanks already for your help

[greentea]

hello does anybody know when you use factoidpapermill where you can check your balance on that adress?
thanks!

Just copy + paste the address here (search):

hello tempus i am new to this and i made a offline adress with private key and send factoids to this adress from poloniex.
But when i put this adress into the explorer than i get 404 Oops! The page you're looking for cannot be found.
Do you know how i can look at my balance in this adress?
Thanks already for your help

How long has it been, give the explorer at least an hour for it to appear ...

[jokkkk]

i just had to wait a second i see them now

[jokkkk]

okay i have tried to get the wallet working but i can not sync factomd.
It stays on block 37209 and after 5a10 min factomd shuts down.
Tried this 20 times?
I wanted to put the private key (from the offline adress)in to the wallet and then send the factoids back to the exchange just to check of this works?
Because its feel strange to use factoidpapermill and send all factoids to this adress without knowing that this adress belongs to me?
Anybody follow me.....i do not know much about this but do not want my factoids on a exchange anymore!
Is there another solution to check these staps?
Or do i have to trust the given factoidspapermill(on offline computer)adress and privatekey.
Does anybody know in the future that it will be easy to import this private key and adress into the wallet?
Thanks

[accripteau]

But what could be about a trillion?

Perhaps something that's an ongoing time interval? Maybe like video feed data.