[ANN] FACTOM - Introducing Honesty to Record-Keeping

[estanis]

try this:https://medium.com/blockchain-education-network/its-time-to-move-your-coins-off-an-exchange-890bf49288db#.oc9e9nxuq
it helps me a lot

[flashbit]

Can we say Factom!

http://www.coindesk.com/blockchain-perfect-government-services-heres-blueprint/

[tempus]

I just installed Factoid Wallet GUI but no idea how to send my FCT from exchange to it. Where is my address or how to generate it? Can i find somewhere turtorial, how to use this wallet?

Here is the how-to with screenshots for the GUI: https://www.factom.com/devs/docs/howto/factoid-wallet-gui-guide

Thank you. So i sent from polo to my wallet small amount of FCT and  explorer shows correct balance ( http://explorer.factom.org/address/FA2aGhbJHAp4sp228vsmJiNdZrRhk6twFf7dNqidsKBjtPWt6Ctw ), but in my GUI wallet after about 1 hour still 0  

That's not unusual. It needs some time to sync. Hope it already shows your Factoids?

[JanDzban]

try this:https://medium.com/blockchain-education-network/its-time-to-move-your-coins-off-an-exchange-890bf49288db#.oc9e9nxuq
it helps me a lot

Thank you, so i guess my wallet is not synced yet, that is why i see 0 balance, but i cannot see any progress with syncing, all i can see is .factom folder is bigger than before. Any idea how heavy is that folder after syncing? Now shows 2GB

[tempus]

try this:https://medium.com/blockchain-education-network/its-time-to-move-your-coins-off-an-exchange-890bf49288db#.oc9e9nxuq
it helps me a lot

Thank you, so i guess my wallet is not synced yet, that is why i see 0 balance, but i cannot see any progress with syncing, all i can see is .factom folder is bigger than before. Any idea how heavy is that folder after syncing? Now shows 2GB

@frameLAlife It’s about 3.84GB currently.
https://twitter.com/factom/status/767125592311562241

[JanDzban]

I just installed Factoid Wallet GUI but no idea how to send my FCT from exchange to it. Where is my address or how to generate it? Can i find somewhere turtorial, how to use this wallet?

Here is the how-to with screenshots for the GUI: https://www.factom.com/devs/docs/howto/factoid-wallet-gui-guide

Thank you. So i sent from polo to my wallet small amount of FCT and  explorer shows correct balance ( http://explorer.factom.org/address/FA2aGhbJHAp4sp228vsmJiNdZrRhk6twFf7dNqidsKBjtPWt6Ctw ), but in my GUI wallet after about 1 hour still 0  

That's not unusual. It needs some time to sync. Hope it already shows your Factoids?

Finally it showed up right now, but from beggining i didnt even know it must be synced. It Is very compicated GUI:) Anyway thanks for all help. Now lets hope for steady rise:)

[tempus]

I just installed Factoid Wallet GUI but no idea how to send my FCT from exchange to it. Where is my address or how to generate it? Can i find somewhere turtorial, how to use this wallet?

Here is the how-to with screenshots for the GUI: https://www.factom.com/devs/docs/howto/factoid-wallet-gui-guide

Thank you. So i sent from polo to my wallet small amount of FCT and  explorer shows correct balance ( http://explorer.factom.org/address/FA2aGhbJHAp4sp228vsmJiNdZrRhk6twFf7dNqidsKBjtPWt6Ctw ), but in my GUI wallet after about 1 hour still 0  

That's not unusual. It needs some time to sync. Hope it already shows your Factoids?

Finally it showed up right now, but from beggining i didnt even know it must be synced. It Is very compicated GUI:) Anyway thanks for all help. Now lets hope for steady rise:)

Yes, the GUI is not too userfriendly but it's okay. I don't use it to store Factoids but it's quick to import priv. keys and to transact.

And great is: Factoids will be implemented (hopefully soon - together with M2) in this multi-asset-wallet: https://www.exodus.io

[D-Lux]

OK so I’ll preface this by saying the following is probably a tinfoil-hat theory, but I still wanted to float it out there and see what others thought. … I’ve been thinking about the recent FCT price movements, and especially the major sells that have been driving the price down and scaring potential investors away. It’s been discussed here in the past, with the main theory being that it’s whales trying to drive the price down in order to collect cheap FCT from margin calls and the weak-handed. But as others have pointed out, this theory doesn’t fully account for what’s going on. For one thing, it’s hard to imagine that the amount being dumped could actually be recovered with a significant-enough quantity of newly bought coins. Yesterday someone sold FCT down to 4370—a massive drop in price, that lasted only briefly before bouncing back up. There have been repeated major sells since then, and in each case the price rebounds to a point higher than the whale had been selling at. So … what’s going on?

This is where things get tinfoil-ish. ... Interest in FCT has been growing rapidly recently, and each time there’s what looks to be the beginning of a run-up in the price, a whale jumps in and throws water on the fire. If they’re not looking to amass cheaper coins, then … what? As much as I respect the Factom team, I have to ask: Who benefits from a relatively stable price atm? Or put another way, how would Factom’s potential investors and clients feel if they heard that, after some huge rise, FCT corrected by 40-50%? I’m not sure how much potential clients care about FCT’s market cap, but if they witness a boom—followed by an inevitable correction—that would likely give them pause. At this point in development, such instability, even if it resulted in a significantly higher market cap, could be seen as a liability.

Again, I’m the first to admit that this all sounds a little conspiracy-theoryish. And anyway it might actually be illegal—exposing Factom Inc to a class-action brought about by ICO holders. But … bottom-line, the recent movements don’t quite add up. And this theory has been nagging at me for a few days now, so thought I’d see what others thought. #hopetobeprovenwrong

[tempus]

OK so I’ll preface this by saying the following is probably a tinfoil-hat theory, but I still wanted to float it out there and see what others thought. … I’ve been thinking about the recent FCT price movements, and especially the major sells that have been driving the price down and scaring potential investors away. It’s been discussed here in the past, with the main theory being that it’s whales trying to drive the price down in order to collect cheap FCT from margin calls and the weak-handed. But as others have pointed out, this theory doesn’t fully account for what’s going on. For one thing, it’s hard to imagine that the amount being dumped could actually be recovered with a significant-enough quantity of newly bought coins. Yesterday someone sold FCT down to 4370—a massive drop in price, that lasted only briefly before bouncing back up. There have been repeated major sells since then, and in each case the price rebounds to a point higher than the whale had been selling at. So … what’s going on?

This is where things get tinfoil-ish. ... Interest in FCT has been growing rapidly recently, and each time there’s what looks to be the beginning of a run-up in the price, a whale jumps in and throws water on the fire. If they’re not looking to amass cheaper coins, then … what? As much as I respect the Factom team, I have to ask: Who benefits from a relatively stable price atm? Or put another way, how would Factom’s potential investors and clients feel if they heard that, after some huge rise, FCT corrected by 40-50%? I’m not sure how much potential clients care about FCT’s market cap, but if they witness a boom—followed by an inevitable correction—that would likely give them pause. At this point in development, such instability, even if it resulted in a significantly higher market cap, could be seen as a liability.

Again, I’m the first to admit that this all sounds a little conspiracy-theoryish. And anyway it might actually be illegal—exposing Factom Inc to a class-action brought about by ICO holders. But … bottom-line, the recent movements don’t quite add up. And this theory has been nagging at me for a few days now, so thought I’d see what others thought. #hopetobeprovenwrong

I doubt that the Factoid-market is very significant for potential customers of Factom.

There are several reasons for the high volatility, especially that there are still many of ICO-Investors with huge amounts. And of course, the market is highly manipulated and I saw things that were not rational. Plus: We had a nice run since mid of June, that's why there is also a lot of profit-taking. 

But today the main reason is the Bitcoin-price - others go down as well.

[D-Lux]

I doubt that the Factoid-market is very significant for potential customers of Factom.

There are several reasons for the high volatility, especially that there are still many of ICO-Investors with huge amounts. And of course, the market is highly manipulated and I saw things that were not rational. Plus: We had a nice run since mid of June, that's why there is also a lot of profit-taking.  

But today the main reason is the Bitcoin-price - others go down as well.

So you think it's just profit-taking? Could be, though it seems strange at this point, with M2 right around the corner ...

[tempus]

I doubt that the Factoid-market is very significant for potential customers of Factom.

There are several reasons for the high volatility, especially that there are still many of ICO-Investors with huge amounts. And of course, the market is highly manipulated and I saw things that were not rational. Plus: We had a nice run since mid of June, that's why there is also a lot of profit-taking.  

But today the main reason is the Bitcoin-price - others go down as well.

So you think it's just profit-taking? Could be, though it seems strange at this point, with M2 right around the corner ...

Today I believe it's more about the Bitcoin-price. But yes, I believe that there would be profit-taking anyway. And M2 - that is something about we care, those who really follow the project and think about it. But you wouldn't believe how many buy into a project just because of a moving price and high volume and because of talking in the trollbox.

If we would have a list of all accounts on Polo who bought FCT, I would make a bet that >70% don't know anything about Factom and never have heard about M2.

But to be fair: Even those who know what it is about may have some doubts about "around the corner", because it's obvious that they (team) take their time. I mean, they could release it on monday or next month or even later.

[D-Lux]

I doubt that the Factoid-market is very significant for potential customers of Factom.

There are several reasons for the high volatility, especially that there are still many of ICO-Investors with huge amounts. And of course, the market is highly manipulated and I saw things that were not rational. Plus: We had a nice run since mid of June, that's why there is also a lot of profit-taking.  

But today the main reason is the Bitcoin-price - others go down as well.

So you think it's just profit-taking? Could be, though it seems strange at this point, with M2 right around the corner ...

Today I believe it's more about the Bitcoin-price. But yes, I believe that there would be profit-taking anyway. And M2 - that is something about we care, those who really follow the project and think about it. But you wouldn't believe how many buy into a project just because of a moving price and high volume and because of talking in the trollbox.

If we would have a list of all accounts on Polo who bought FCT, I would make a bet that >70% don't know anything about Factom and never have heard about M2.

But to be fair: Even those who know what it is about may have some doubts about "around the corner", because it's obvious that they (team) take their time. I mean, they could release it on monday or next month or even later.

That makes sense, OK I'll remove my tinfoil-hat It really is strange about the level of investor awareness in the projects ppl invest in. I try to invest based on fundamentals, but it's difficult in crypto when prices move so much based on hype. As David Irvine has said, "Price follows value," which is basically my investment philosophy, but certainly there's profit to be made in following social-psychology trends more closely, at least in the short term.

[JanDzban]

I doubt that the Factoid-market is very significant for potential customers of Factom.

There are several reasons for the high volatility, especially that there are still many of ICO-Investors with huge amounts. And of course, the market is highly manipulated and I saw things that were not rational. Plus: We had a nice run since mid of June, that's why there is also a lot of profit-taking.  

But today the main reason is the Bitcoin-price - others go down as well.

So you think it's just profit-taking? Could be, though it seems strange at this point, with M2 right around the corner ...

Today I believe it's more about the Bitcoin-price. But yes, I believe that there would be profit-taking anyway. And M2 - that is something about we care, those who really follow the project and think about it. But you wouldn't believe how many buy into a project just because of a moving price and high volume and because of talking in the trollbox.

If we would have a list of all accounts on Polo who bought FCT, I would make a bet that >70% don't know anything about Factom and never have heard about M2.

But to be fair: Even those who know what it is about may have some doubts about "around the corner", because it's obvious that they (team) take their time. I mean, they could release it on monday or next month or even later.

Yes, almost every coin got big dump because this BTC move up.

[tempus]

I doubt that the Factoid-market is very significant for potential customers of Factom.

There are several reasons for the high volatility, especially that there are still many of ICO-Investors with huge amounts. And of course, the market is highly manipulated and I saw things that were not rational. Plus: We had a nice run since mid of June, that's why there is also a lot of profit-taking.  

But today the main reason is the Bitcoin-price - others go down as well.

So you think it's just profit-taking? Could be, though it seems strange at this point, with M2 right around the corner ...

Today I believe it's more about the Bitcoin-price. But yes, I believe that there would be profit-taking anyway. And M2 - that is something about we care, those who really follow the project and think about it. But you wouldn't believe how many buy into a project just because of a moving price and high volume and because of talking in the trollbox.

If we would have a list of all accounts on Polo who bought FCT, I would make a bet that >70% don't know anything about Factom and never have heard about M2.

But to be fair: Even those who know what it is about may have some doubts about "around the corner", because it's obvious that they (team) take their time. I mean, they could release it on monday or next month or even later.

That makes sense, OK I'll remove my tinfoil-hat It really is strange about the level of investor awareness in the projects ppl invest in. I try to invest based on fundamentals, but it's difficult in crypto when prices move so much based on hype. As David Irvine has said, "Price follows value," which is basically my investment philosophy, but certainly there's profit to be made in following social-psychology trends more closely, at least in the short term.

I also invest more based on good fundamentals, but in the end value is about psychological dynamics - also longterm is, while this market (crypto in general) is very short-term-focused. And it's a wild mix between experienced people, some are even real professionals, but also a majority with a "las-vegas-approach". ;-)

[xmrlove]

This coin is not worth holding. It was not designed to be a speculative asset. It is a network token, If it has value so be it. A coin like XMR is clear private store of value. BTC is a public store of value or semi anon one with benefits of its own. FCT is not worth holding IMO. Watch this interview with DEV PAUL SNOW OF FACTOM INC.: https://www.youtube.com/watch?v=1noFK6M8ktU  


"The system is designed to keep the price low" - quote from this video https://www.youtube.com/watch?v=1noFK6M8ktU  


FCT goes up, it will come down. It was designed so.


Love Factom and the initiative. However from a investment standpoint it just does not make sense to buy and hold a network Token like this.

[flashbit]

This coin is not worth holding. It was not designed to be a speculative asset. It is a network token, If it has value so be it. A coin like XMR is clear private store of value. BTC is a public store of value or semi anon one with benefits of its own. FCT is not worth holding IMO. Watch this interview with DEV PAUL SNOW OF FACTOM INC.: https://www.youtube.com/watch?v=1noFK6M8ktU  


"The system is designed to keep the price low" - quote from this video https://www.youtube.com/watch?v=1noFK6M8ktU  


FCT goes up, it will come down. It was designed so.


Love Factom and the initiative. However from a investment standpoint it just does not make sense to buy and hold a network Token like this.

Oh great here comes the XMR trolls. right on time!

[tempus]

This coin is not worth holding. It was not designed to be a speculative asset. It is a network token, If it has value so be it.
  

The more the system will be used, the higher the price of FCT needs to rise, because buying Entry Credits = burning of Factoids.

A coin like XMR is clear private store of value. BTC is a public store of value or semi anon one with benefits of its own. FCT is not worth holding IMO. Watch this interview with DEV PAUL SNOW OF FACTOM INC.: https://www.youtube.com/watch?v=1noFK6M8ktU  

XMR gets some news because of the dark-markets. But: Will XMR be the one and only Anon-solution? No. Soon there will be Zcash and there will be others as well. In the end it won't be XMR.

"The system is designed to keep the price low" - quote from this video https://www.youtube.com/watch?v=1noFK6M8ktU  

The price for customers! The price to use Factom. He did not talk about the price of Factoids! ;-)

FCT goes up, it will come down. It was designed so.

The opposite is true. Factom is designed to be used and the more demand - the more Factoids will be burned - the higher the price has to be. I know, I already said it, but it's worth to say it again.

 
Love Factom and the initiative. However from a investment standpoint it just does not make sense to buy and hold a network Token like this.

You just don't understand it. That's all. ;-)

[haggis]

This coin is not worth holding. It was not designed to be a speculative asset. It is a network token, If it has value so be it. A coin like XMR is clear private store of value. BTC is a public store of value or semi anon one with benefits of its own. FCT is not worth holding IMO. Watch this interview with DEV PAUL SNOW OF FACTOM INC.: https://www.youtube.com/watch?v=1noFK6M8ktU  


"The system is designed to keep the price low" - quote from this video https://www.youtube.com/watch?v=1noFK6M8ktU  


FCT goes up, it will come down. It was designed so.


Love Factom and the initiative. However from a investment standpoint it just does not make sense to buy and hold a network Token like this.

Thanks for you input. But before posting, you should have at least tried to understand what is said on the video and learned the difference between factoids and entry credits. Scroll up a couple of posts and you'll see your troll attempt is not very good

Btw: no need to fear FCT as competitor to XMR. They have completely different purposes and can grow next to each other in peace  

[D-Lux]

This coin is not worth holding. It was not designed to be a speculative asset. It is a network token, If it has value so be it. A coin like XMR is clear private store of value. BTC is a public store of value or semi anon one with benefits of its own. FCT is not worth holding IMO. Watch this interview with DEV PAUL SNOW OF FACTOM INC.: https://www.youtube.com/watch?v=1noFK6M8ktU  


"The system is designed to keep the price low" - quote from this video https://www.youtube.com/watch?v=1noFK6M8ktU  


FCT goes up, it will come down. It was designed so.


Love Factom and the initiative. However from a investment standpoint it just does not make sense to buy and hold a network Token like this.

Sorry but it looks like you're confused. Snow was talking about the price of EC, not FCT. There's already been a lot of discussion here and on Reddit explaining the relationship b/t the two, but the take-away is: FCT will rise in a manner directly proportionate to Factom's use. More extended discussion here: www.reddit.com/r/factom/comments/4zxi6e/fct_ec_and_the_factom_financial_ecosystem/

This is assuming your post wasn't just meant as a plug for XMR ...

[xmrlove]

This coin is not worth holding. It was not designed to be a speculative asset. It is a network token, If it has value so be it. A coin like XMR is clear private store of value. BTC is a public store of value or semi anon one with benefits of its own. FCT is not worth holding IMO. Watch this interview with DEV PAUL SNOW OF FACTOM INC.: https://www.youtube.com/watch?v=1noFK6M8ktU  


"The system is designed to keep the price low" - quote from this video https://www.youtube.com/watch?v=1noFK6M8ktU  


FCT goes up, it will come down. It was designed so.


Love Factom and the initiative. However from a investment standpoint it just does not make sense to buy and hold a network Token like this.

Sorry but it looks like you're confused. Snow was talking about the price of EC, not FCT. There's already been a lot of discussion here and on Reddit explaining the relationship b/t the two, but the take-away is: FCT will rise in a manner directly proportionate to Factom's use. More extended discussion here: www.reddit.com/r/factom/comments/4zxi6e/fct_ec_and_the_factom_financial_ecosystem/

This is assuming your post wasn't just meant as a plug for XMR ...

No he specifically says " It is designed to keep the price of a Factoid low". Yes XMR + FCT will co-exist. FCT will do amazing things. However with that said, it does not make sense to hold this network token in hopes it will rise for no reason when the system is not designed for FCT to sustain a high price.