[ANN] FACTOM - Introducing Honesty to Record-Keeping

[MyFarm]

I think I'll use this opportunity to talk valuation with you all..  I am going to keep it extremely simplistic, but there is an important piece of information which I think most aren't realizing that I'll reveal.  As we know, the Series A valuation was such that Factom Inc. is valued at around 30 million by investors.  But how should Factoids be valued based upon that?

That 30 million valuation is based upon many variables.  However, to simplify things, remember that Factom Inc. regularly states that their revenue is going to be based upon earnings from providing apps/services that use the Factom Protocol (and thus Factoids).  But in reality, this just doesn't matter.  Factoids shouldn't be valued based upon Factom Inc's valuation.

Factom is creating a PROTOCOL.  Competing companies to Factom Inc. can use the protocol and will use Factoids (unless they fork and setup their own Federated and Audit servers which I doubt but am open to happening).  Non-competing companies can also use the protocol and they too will use Factoids.

I like to think of Bitcoin at TCP/IP and the Factom protocol as www.  

By investing in Factoids, you're not investing in Factom Inc.  

You're investing in the potential success of every company and individual that is going to benefit from using the www, including, but no doubt not limited to Factom Inc.

Factoids are going to have to one day be insanely valuable.  Why?  Because Federated Servers aren't that well named.  It fits for now, but at some point in the future, they'll need to be Federated Data Centers.

[Josef27]

You've got the answer above guys:

CEO says Factom doesn't profit from FCT rise, and thats bad, because i would like have Factom to have made some needed $$$$ from that rise to fund their business

Instead, dixit Paul Snow:
"Almost all of us hold FCT personally"

and now you have all the info about who sold. When you're long from Day 1 and the stuff you own is worth couple of hundred thousands or even millions, and you have a wife screaming everyday she wants to live in a bigger and better place, well you sell, its as simple as that. you have also to add all the speculators who bought around 0.002-0.0025...and thats where you find sellers.

those who bought at 0.005 and above are the bagholders and (bad) speculators. The sellers there were the early buyers, thats how pyramids, ponzi schemes coins work...

When FCT is really used, it will rise in value.

Also yes, as someone said earlier, if Factom does not make a profit, i will lose 100% on my A-shares. So I WANT Factom to succeed.
However in the short term, even if i can see a short term bounce to 0.042-0.044 i think it will trade down even more with so many traders butt-hurt, and no sight of good news (=actual business deals) yet. Those who bought too high will have to wait quite some time to see their price again, thats how that crypto game works in any coin.

Factom insiders selling don't go onto Polo troll box, forums, lie, fud  the company they work for then dump 1000 BTC.

[crazyivan]

There s one thing to understand here. If you really believe in Factom, don't use triggers. Cause with this big dump and all these margin calls, the whale has profited. However, someone has lost money. A lot of money. Weak hands who joined this margin call wave and sold below their buy price and people who set their sell trigger price bellow their buy price as a loss control measure LOST.

Now the price will recover and there will be probably more attempts to dump. If you want to speculate, fine, use whatever means necessary. However, if you really believe in Factom, buy, select your exit price and hold until then. Do not get upset by these day to day price swings. Otherwise, you ll lose money again.

My exit is 2500 and whatever happens in the meantime, I M NOT SELLING OR SETTING MARGIN. So simple.

[nowhere man]

Hysterical FUDDER here.


The idea that I am in cahoots with the dumper/manipulator is laughable. Starting from a couple of days ago, I started raising a couple of major concerns about the company and the coin. Why would the dumper want me to do that before he dumps? er.......

The first concern that I raised has at least been addressed by the company and devs and I'm really happy they've responded. When a large percentage of the coin is held by just a handful of people and that coin is being regularly dumped on polo, the suspects list is rather short. Now not one person on here could provide evidence that they (the factom team) hadn't been the ones behind the price manipulation at polo. And in fact, no one seemed to really be aware of any company statement regarding the selling of factoids on the open market. Isn't this a crucial piece of information? Wouldn't you expect the company to have made a public statement regarding its policy on the buying and selling of factoids? Maybe I've missed this statement in the past, but I'm happy to see they have now stated unequivocally that they don't sell factoids on the open market. That at least is something.

The second concern raised (by Grossbit I believe) has not been addressed and the market will continue to punish factoid hodlers for this. Obviously like all Crypto and most investments, factoids are speculative. But it would be nice if we could see some kind of projected use of entry credits from current deals that the factom team has signed with prospective clients (to their credit I might add). Because we're all very aware that to sustain the current price at an inflation rate of 73k per month, you'd need about 200 million entries per month. Could the team provide any hints as to whether that is an attainable goal?

Oh and one more thing. Blaming whales for manipulation, then talking proudly about the immense buy support that factom has is pretty funny. You can't have it both ways.

[Bagatell]

Hysterical FUDDER Concern troll here.

 

[MontyK]

Is there some special site I can go to get paid fudding? what a shitstorm today.

Crypto is very simple, you invest in the fundamentals and follow progress of the team, nothing more... relax

Agreed

[ferdinand90]

[/quote]

Organizing a group of people to put out dis-information that you know was false for profit. Is fraud as well.  Your intent and knowing that this info isn't true and profiting from it is a crime in almost all countries.  What usually gets you busted is the scale of your actions. If you're dumping 100+ BTC on POLO it isn't hard to find you.

[/quote]

I am 90 % sure that poloniex are the actual scums that did this in the first place

[crazyivan]

Doesn't matter who started this. For this to work, lots of margin call need to be activated. It s not possible all of these were profitable, LOTS of people lose money on these stop loss triggers and just set them up to minimise their loses but they re still LOSES. So DONT be stupid. If you believe in Factom, pick an exit price, set it and forget it. Do not let dumpers dictated your exit price cause that way you lose 100%.

[GrossBit]

Poloniex operates like a bucket shop.

they look at the stop orders, they know where and how much they will be triggered.
Don't leave a stop order at Polo; set a price alarm and execute manually yourself.

That being said, it doesn't change the technical outlook for FCT is dire

Look at the weekly chart, its a textbook bearish divergence (RSI + volume). Usually i see retracement down to the 2D Lower Bollinger band value when the signal appeared , which is as low as 0.0015 !!!

i just hope TA is wrong, but i don't want to be playing knife-catching for sure right now

[spacezx]

Exactly, short term traders do anything to move the market on their benefit, that's the way they make money in life... they never write by the real name ...

When they buy start Fudding the price will go up blblaaaa..

After they sold do exact opposite....  such a pity life ... so shameful....

https://www.youtube.com/embed/uHgBC9vYnAk

[Elpadrinho]

Organizing a group of people to put out dis-information that you know was false for profit. Is fraud as well.  Your intent and knowing that this info isn't true and profiting from it is a crime in almost all countries.  What usually gets you busted is the scale of your actions. If you're dumping 100+ BTC on POLO it isn't hard to find you.

[/quote]

I am 90 % sure that poloniex are the actual scums that did this in the first place
[/quote] I totally agree with you especially the Poloniex part.Major scumbag thieves.

[daburone]

Poloniex operates like a bucket shop.

they look at the stop orders, they know where and how much they will be triggered.
Don't leave a stop order at Polo; set a price alarm and execute manually yourself.

That being said, it doesn't change the technical outlook for FCT is dire

Look at the weekly chart, its a textbook bearish divergence (RSI + volume). Usually i see retracement down to the 2D Lower Bollinger band value when the signal appeared , which is as low as 0.0015 !!!

i just hope TA is wrong, but i don't want to be playing knife-catching for sure right now

Literally every single post you've made about Factom is gloom & doom. You sure do have an axe to grind. Did a Factom Dev f*ck your wife or something?  

[Freckleg]

Poloniex operates like a bucket shop.

they look at the stop orders, they know where and how much they will be triggered.
Don't leave a stop order at Polo; set a price alarm and execute manually yourself.

That being said, it doesn't change the technical outlook for FCT is dire

Look at the weekly chart, its a textbook bearish divergence (RSI + volume). Usually i see retracement down to the 2D Lower Bollinger band value when the signal appeared , which is as low as 0.0015 !!!

i just hope TA is wrong, but i don't want to be playing knife-catching for sure right now

Literally every single post you've made about Factom is gloom & doom. You sure do have an axe to grind. Did a Factom Dev f*ck your wife or something?  

do not insult the factom devs 

[Josef27]

Create doubt and then talk it up on polo and dump a little repeat?  Game is up.. Hogs get slaughtered. LOL it would be funny if Paul announced releasing the testnet just to burn your asses.

[crazyivan]

Create doubt and then talk it up on polo and dump a little repeat?  Game is up.. Hogs get slaughtered. LOL it would be funny if Paul announced releasing the testnet just to burn your asses.

Oh yes, that would be big time sweet. BIG TIME! Some people would get schooled.

[tempus]

Create doubt and then talk it up on polo and dump a little repeat?  Game is up.. Hogs get slaughtered. LOL it would be funny if Paul announced releasing the testnet just to burn your asses.

What is always possible in Factom is, that they publish business-news, a new partnership.

[Josef27]

Create doubt and then talk it up on polo and dump a little repeat?  Game is up.. Hogs get slaughtered. LOL it would be funny if Paul announced releasing the testnet just to burn your asses.

What is always possible in Factom is, that they publish business-news, a new partnership.

I'm 100% sure Paul and Co are monitoring this situation.

[MontyK]

Poloniex operates like a bucket shop.

they look at the stop orders, they know where and how much they will be triggered.
Don't leave a stop order at Polo; set a price alarm and execute manually yourself.

That being said, it doesn't change the technical outlook for FCT is dire

Look at the weekly chart, its a textbook bearish divergence (RSI + volume). Usually i see retracement down to the 2D Lower Bollinger band value when the signal appeared , which is as low as 0.0015 !!!

i just hope TA is wrong, but i don't want to be playing knife-catching for sure right now

If you look back at Grossbits predictions he's sitting at around 80-95% miss rate.  In other words he's most often wrong..... particularly with timing!  I've come to the conclusion to look at his predictions as contrarian.  I just bought a  boat load yesterday in the knowledge this is a very very good entry point for investment for a 3-6 month time frame.  Unless you're a full-time day trader (and that rules out 99% of people on this board) I'd completely ignore technicals and solely focus on fundamentals and sentiment.  Right now we have fantastic fundamentals and terrible sentiment (hence the price drop)  This sentiment will undoubtedly turn around as there is literally no fundamentals supporting it.  So buy with confidence people it's a no brainer.  

[astmandu]

Poloniex operates like a bucket shop.

they look at the stop orders, they know where and how much they will be triggered.
Don't leave a stop order at Polo; set a price alarm and execute manually yourself.

That being said, it doesn't change the technical outlook for FCT is dire

Look at the weekly chart, its a textbook bearish divergence (RSI + volume). Usually i see retracement down to the 2D Lower Bollinger band value when the signal appeared , which is as low as 0.0015 !!!

i just hope TA is wrong, but i don't want to be playing knife-catching for sure right now

If you look back at Grossbits predictions he's sitting at around 80-95% miss rate.  In other words he's most often wrong..... particularly with timing!  I've come to the conclusion to look at his predictions as contrarian.  I just bought a  boat load yesterday in the knowledge this is a very very good entry point for investment for a 3-6 month time frame.  Unless you're a full-time day trader (and that rules out 99% of people on this board) I'd completely ignore technicals and solely focus on fundamentals and sentiment.  Right now we have fantastic fundamentals and terrible sentiment (hence the price drop)  This sentiment will undoubtedly turn around as there is literally no fundamentals supporting it.  So buy with confidence people it's a no brainer.  

Very well said.  I built a position at a higher level.  I am very tempted to buy more now and lower my basis just because the opportunity to get in now is terrific.  I'm just not willing to break my rules and so I'll just watch.  For new people wanting a longer term investment in a truly unique crypto that is actually doing things now, this is a great entry point.

[flashbit]

http://bravenewcoin.com/news/decent-a-torrent-blockchain-presale/

A somewhat more usable solution would just focus on augmenting the torrent architecture without burdening it with a proprietary blockchain. You could use Factom or Ethereum to publish the magnet links, have some proof-of-payment solution to request the torrent data for paid content, or even just rely on donations from people that consume your content. Building one's own blockchain just to manage new tokens proves once again, a solution looking for a problem.