[ANN] FACTOM - Introducing Honesty to Record-Keeping

[D-Lux]

how many factoids have been burned so far?

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

I see, so is it "Entry Credits in Factoids" that is the burned factoids?

When Factoids are converted to Entry Credits, they are burned. So if you have 1 FCT and use that to buy 100 EC, the 1 FCT will be removed from the supply, and the 100 EC are usable to "Factomize" data whenever you like.

The conversion rate depends on the time of purchase (i.e. the market value of FCT at that point).

Until M3 is up and kicking, no new FCT will be added to the supply. Once M3 is released, ~73K new FCT will be released each month, in order to offset the burnt FCT.

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[neo1947]

this is what l think about fct near future 0.01 sats early 2017

[crazyivan]

this is what l think about fct near future 0.01 sats early 2017

Yeah, right, FCT ll reach $10 by Q1 2017. You know how many coins and how many optimistic guesses of this kind I ve seen so far? Dozens.
You know how many of those actually came through? Only one.
ETH.

[matt608]

Yeah, right, FCT ll reach $10 by Q1 2017. You know how many coins and how many optimistic guesses of this kind I ve seen so far? Dozens.
You know how many of those actually came through? Only one.
ETH.

I wouldn't be surprised, $10 isn't that high and 2017 is quite some time away.  x5 in 6 months is the upper end of what I'd expect to see from Factom.

[D-Lux]

Yeah, right, FCT ll reach $10 by Q1 2017. You know how many coins and how many optimistic guesses of this kind I ve seen so far? Dozens.
You know how many of those actually came through? Only one.
ETH.

I wouldn't be surprised, $10 isn't that high and 2017 is quite some time away.  x5 in 6 months is the upper end of what I'd expect to see from Factom.

I don't know ... I guess we need to see what happens with M2, but this isn't just another crypto release like most of us are used to. Paul Snow's called M2 Factom's capstone for this year and years to come. Also the system should be pretty much in full gear at that point, so natural usage—as opposed to speculation—should have a noticeable influence on the price, esp if additional partnerships come in, and existing partners increase their usage. In fact the natural-usage-to-speculation ratio is probably higher for FCT than any other crypto, which alone points to it being seriously undervalued.

No telling how investors will react to M2, but I'd actually peg a 5x increase by year's end to be on the conservative side. There's the psychological aspect that Tempus has been doing a great job of pointing us to, and if that catches on (soooo many people still don't understand even the basics of Factom) then the price could get a little bit "out of hand," but we'll see ...

[D-Lux]

Yeah, right, FCT ll reach $10 by Q1 2017. You know how many coins and how many optimistic guesses of this kind I ve seen so far? Dozens.
You know how many of those actually came through? Only one.
ETH.

Funny, you sound like the ETH fudders I was arguing with about a year ago ...  
ETH is the untouchable benchmark until it isn't ... That FCT's market cap should be less than ETH's at this point is debatable, esp given recent events for both cryptos.

[willowfoot]

Yeah, right, FCT ll reach $10 by Q1 2017. You know how many coins and how many optimistic guesses of this kind I ve seen so far? Dozens.
You know how many of those actually came through? Only one.
ETH.

I wouldn't be surprised, $10 isn't that high and 2017 is quite some time away.  x5 in 6 months is the upper end of what I'd expect to see from Factom.

$10 is still less then $100 million marketcap, which in this space and with their team is easily doable IMO.

Won't guess on timing, b/c the market always surprises

[UgOs]

I was expecting a PR or blog post for the successful funding at bank to the future!

[MyFarm]

I was expecting a PR or blog post for the successful funding at bank to the future!

PR for funding rounds doesn't come the day it's agreed on.  While I'm not familiar with bnk's system, in normal VC funding, there's paperwork and logistics to work out.  Don't be too surprised if we don't see any official word for awhile yet.

[crazyivan]

I was expecting a PR or blog post for the successful funding at bank to the future!

That s how Factom marketing works. No promotion, no media exposure, who cares about that. Not surprised at all.

[margaret21555]

When will be the day of M2 released??

[Azael]

I was expecting a PR or blog post for the successful funding at bank to the future!

Should be up some time this week.

[mig5000]

I was expecting a PR or blog post for the successful funding at bank to the future!

Should be up some time this week.

Do you have insider information ?

As someone stated all the paperwork around a successful funding round could take days/weeks (lawyers, bankers, etc)... Stop being so greedy, everything will come in due time.

In the meantime price is consolidating and we might still be undervalued when you see the other coins that have a 15-20M marketcap, this is healthy, going to 50-80M in one go isn't.

[Azael]

I was expecting a PR or blog post for the successful funding at bank to the future!

Should be up some time this week.

Do you have insider information ?

No.

As someone stated all the paperwork around a successful funding round could take days/weeks (lawyers, bankers, etc)

This round is public knowledge just like projects on Kickstarter.

[oneyesoneno]

I was expecting a PR or blog post for the successful funding at bank to the future!

Should be up some time this week.

Do you have insider information ?

As someone stated all the paperwork around a successful funding round could take days/weeks (lawyers, bankers, etc)... Stop being so greedy, everything will come in due time.

In the meantime price is consolidating and we might still be undervalued when you see the other coins that have a 15-20M marketcap, this is healthy, going to 50-80M in one go isn't.

well i heard the office is always open... maybe if u live in Austin texas u can visit their office 

[Master_dandosha]

When will be the day of M2 released??

Any specific day for M2?

[D-Lux]

When will be the day of M2 released??

Any specific day for M2?

According to github it looks like they're putting on the finishing touches, but we probably won't know when it'll be released until ... it's released. They may be waiting for the bnktothefuture raise to be finalized before releasing M2, but that's just a guess.

[crazyivan]

When will be the day of M2 released??

Any specific day for M2?

According to github it looks like they're putting on the finishing touches, but we probably won't know when it'll be released until ... it's released. They may be waiting for the bnktothefuture raise to be finalized before releasing M2, but that's just a guess.

Well, we ve been listening to this story for the last 3 months or so. I understand they want everything to be perfect but I think the entire community s slowly losing patience which might reflect on the price.

[accripteau]

Well, we ve been listening to this story for the last 3 months or so. I understand they want everything to be perfect but I think the entire community s slowly losing patience which might reflect on the price.

Underestimated development timelines seem to be a common theme in this space.

https://i.imgflip.com/19137b.jpg

[ardia]

I was expecting a PR or blog post for the successful funding at bank to the future!

Should be up some time this week.

They did mention on their blog when their Seed Funding went oversubscribed: https://www.factom.com/factom_goes_into_overfunding/

Hope they do the same for Series A.