[ANN] FACTOM - Introducing Honesty to Record-Keeping

[FudCutter]

not trolling

spreading the truth, reputable poster with 2007 karma on Reddit (same nickname)

posting the same info on Reddit and upvoted and thanked by the community.

https://www.reddit.com/r/factom/comments/55x0sr/tim_draper_leads_42_million_series_a_for/

upvoted 8 times as I post now
http://hpics.li/65192f4

I am not short FCT because i don't short coins in general, but after today's spike to 476 on the news the market is back at 413. Even Polo's trollbox seems aware of the non-new now.

Be long at your own risk

to anyone who bought near today's highs because of this non-news :you should be worried. Its not GrossBit telling it to you, its Mr Market

who's the troll   Its Flashbit... making unfounded attacks and trying to obscure the now too obvious truth

Gross - Draper is non-news? Huh... what are you smokn'?  btw infomation I quoted about your trolling lies are true.. you are very new to crypto.. just a fact...

Exactly! Draper being on board IS the story, more so than the $4.2m. That is huge.

[D-Lux]

Hi again guys,

this is a screenshot from bnktothefuture http://img4.hostingpics.net/pics/967087Capturedecran20161005a174204.png
i cut it because i don't wanna show you my personal info
This is the commentary from BF support "We will leave David to answer those questions that are not answered but this round is the same round you co-invested in. We have updated the numbers to reflect the final amount raised on this pitch."

i found it strange the numbers have been "revised" DOWN as you can see from the PREVIOUS screenshot that i posted earlier
http://img4.hostingpics.net/pics/362144Capturedecran20161005a095320.png

spot the difference: number of backers is the same 158 the number on the left is the same 512,946,869 yens
but the actual number of funding reported went DOWN to 430,875,409 yens (so down around 800,000 USD)
and this is the SAME round of funding, this is not NEW funding... dixit bnktothefuture itself (not me !!!)

I am waiting for more explanations, but facts seem to support more and more my interpretation, despite all the accusations of trolling and FUDding, the only person showing real information is myself, and i am transparent and have disclosed my position in FCT and my even my trading levels,
which is NOT the case of all parties involved.

Draw your own conclusions and who should trust. I have been posting on reddit for 6 months and built a solid reputation on ethtrader, i'm not here to destroy my reputation and spread false information. I cast doubt when there is and always have balanced opinions, and trade prudently.

Trade and invest accordingly

Sounds like they accidentally overstated the raise. Not sure where the conspiracy is ...?

Or are you suggesting there was malicious intent, that they reported the wrong figure intentionally? What possible reason could they have?

Also, you add at the end of your otherwise duplicate Reddit post, but for some reason have deleted here: "disclosure : I don't have any position on FCT." So you don't hold a position in FCT. Fair enough. If you don't care enough to hold or short, why do you care enough to spend literally thousands of words each day elaborating on various themes of fear, uncertainty and doubt about that coin?


Actually I just took a look at your history and couldn't help noticing this:

https://bitcointalk.org/index.php?action=profile;u=893121;sa=showPosts;start=40

This is a blatant misreading of the document linked to. At the beginning Synereo had 2b AMP. After the initial crowdsale they had 1.68b, the number you quote as being current. That number stopped being current when they sold 731m pre 2016 sale. The current price listed on coinmarket cap is, it turns, out, correct. You uncovered a conspiracy with Synereo no more than you uncovered a conspiracy with Factom. The reason I'm spelling this out is because: 1) Anyone can check that what I've written is correct. 2) I have actively traded in AMP and FCT over the past months, and can say that they are without doubt two of the most heavily manipulated crypto markets ATM. They are also two of the most promising coins, in my opinion. Coins that someone with a lot of money might want to collect as cheaply as possible. Someone for whom a certain level of crowd control is a drop in the bucket ...

[Fuyuki_Wataru]

This place is a serious mess. There's even two sides, and both aren't able to communicate rationally between each other.

[astmandu]

This place is a serious mess. There's even two sides, and both aren't able to communicate rationally between each other.

You are right.  I often just observe the boards but it is often the case that people are shouting at each other accusing of differing motivations.  Everyone needs to pull up his panties and make his own moves.  We're grown-ups. 

[Bagatell]

This place is a serious mess. There's even two sides, and both aren't able to communicate rationally between each other.

Welcome to the internet.

[Pap0u]

If you don't see the manipulation and intentional distortion of facts to create that not 100% certainty just to shake people out, you guys are blind. Happens all the time in crypto, we aren't regulated, no SEC up our buts, it's the Wild Wild West. Factom will be a big winner. If it wasn't for manipulation we would be way over $4 right now, but once M2 is released and successful, it will be hard to stop. Just buy for a long position, and give it a few months

[astmandu]

If you don't see the manipulation and intentional distortion of facts to create that not 100% certainty just to shake people out, you guys are blind. Happens all the time in crypto, we aren't regulated, no SEC up our buts, it's the Wild Wild West. Factom will be a big winner. If it wasn't for manipulation we would be way over $4 right now, but once M2 is released and successful, it will be hard to stop. Just buy for a long position, and give it a few months

Of course there is manipulation.  If people can't accept that then crypto isn't for them.

But it goes both ways.  Every person on here who is long is cheering it up.  Why is that motivation more legit than someone else who is short and wants it to go down?  Logic doesn't give favors. 

I agree that lies should be rooted out, but not everything is a lie.  For example, Snow did send a private email it turned out.  There was confusion about the Draper press release getting pulled.  It's fair to ask questions and seek out the truth.  It doesn't mean someone is getting paid as a troll because they raise an issue that questions the sanctity of a crypto (many of which are shady in this segment). 

I bet all the people making money on Enron on the way up would have skinned a person alive who dared to call it a massive fraud.

[Pap0u]

If you don't see the manipulation and intentional distortion of facts to create that not 100% certainty just to shake people out, you guys are blind. Happens all the time in crypto, we aren't regulated, no SEC up our buts, it's the Wild Wild West. Factom will be a big winner. If it wasn't for manipulation we would be way over $4 right now, but once M2 is released and successful, it will be hard to stop. Just buy for a long position, and give it a few months

Of course there is manipulation.  If people can't accept that then crypto isn't for them.

But it goes both ways.  Every person on here who is long is cheering it up.  Why is that motivation more legit than someone else who is short and wants it to go down?  Logic doesn't give favors. 

I agree that lies should be rooted out, but not everything is a lie.  For example, Snow did send a private email it turned out.  There was confusion about the Draper press release getting pulled.  It's fair to ask questions and seek out the truth.  It doesn't mean someone is getting paid as a troll because they raise an issue that questions the sanctity of a crypto (many of which are shady in this segment). 

I bet all the people making money on Enron on the way up would have skinned a person alive who dared to call it a massive fraud.

Why would anyone want it to go down? Especially from here. So you are telling me the market cap is too high? The only reason anyone would want Factom to go down or help it go down is to shake out weak hands, accumulate themselves for a cheaper price because they know it's about to pump hard soon. Otherwise everyone would collectively want it to go up.

[daburone]

But it goes both ways.  Every person on here who is long is cheering it up.  Why is that motivation more legit than someone else who is short and wants it to go down?  Logic doesn't give favors. 

I take your point. But I have to say, this Grossbit fella is taking it a bit far and is getting stalkerish. This thread is starting to become more about him than Factom. How about we rename it "Re: [ANN] GROSSBIT - Introducing Fear and Uncertainty to Every Forum Post)"?

It blows my mind that anyone was able to somehow spin today's news into a negative. I think he even called it "non-news" at some point. But I suppose we should listen, because he did win 40 Bitcoin on Polo  

I think I will join the Factom team in stepping away from this toxic thread for a while.

[Hoplita10]

H&S on FCT https://www.coinigy.com/s/i/57f50702/ similar to xmr situation.

[flashbit]

H&S on FCT https://www.coinigy.com/s/i/57f50702/ similar to xmr situation.

Increase timeline and you'll see cup and handle.

[Pap0u]

H&S on FCT https://www.coinigy.com/s/i/57f50702/ similar to xmr situation.

Increase timeline and you'll see cup and handle.

Increase it more and you see a rainbow and unicorn.

[GrossBit]

But it goes both ways.  Every person on here who is long is cheering it up.  Why is that motivation more legit than someone else who is short and wants it to go down?  Logic doesn't give favors. 

I take your point. But I have to say, this Grossbit fella is taking it a bit far and is getting stalkerish. This thread is starting to become more about him than Factom. How about we rename it "Re: [ANN] GROSSBIT - Introducing Fear and Uncertainty to Every Forum Post)"?

It blows my mind that anyone was able to somehow spin today's news into a negative. I think he even called it "non-news" at some point. But I suppose we should listen, because he did win 40 Bitcoin on Polo  

I think I will join the Factom team in stepping away from this toxic thread for a while.

the real news is the list of big investors included some VC celebrities, which certainly can interpreted as a good thing.

the headlines news were of a ("new") round of funding of 4.2M usd. It turns out that this amount was related to the Series A funding which closed in July earlier.
At the time, it was announced that the amount raised was over 5M usd. it turns out that it was only 4.2M, less than initially announced.

The delay between the filing and the end of the bnktothefuture subscription can be explained by paperwork. But the timing is a little bit "strange" or "fortunate", or just lucky :-)

I will let the FCT market vote

in the meanwhile, its kind of a "positive" news for A-shares holder as it means no dilution. However less funding means less development, i don't know which is best for the LT. I trust that Factom has raised the right amount of money to be able to conduct their business. Anyway its also the own interest of the founders to avoid share dilution.

Well i am ready to retract my words if I am wrong , but i think i've given enough evidence to those who want to examine it seriously. bnktothefuture have confirmed themselves. you just need to create an account and see it on their site.

[Azael]

Anyone knows what the customnet is on github? M2 has just been merged into customnet on github

Yes, looks like the Genesis Block has been added to the code 

Are you sure? I can't figure out if it is anything of importance.

[Azael]

Peter Kirby from Factom just confirmed: www.reddit.com/r/factom/comments/55x0sr/tim_draper_leads_42_million_series_a_for/

Outstanding.  Seriously, having someone like Tim Draper on board with Factom is so much bigger than people realize.  Not only will he be an amazing advisor, but he has countless connections and will open doors for Factom we can't even begin to fathom.

Absolutely huge.

He bought a lot of Bitcoin in an auction at 600 or so I think. It is a possibility he does the same here. We'll find out or not find out.

[tempus]

But it goes both ways.  Every person on here who is long is cheering it up.  Why is that motivation more legit than someone else who is short and wants it to go down?  Logic doesn't give favors.  

I take your point. But I have to say, this Grossbit fella is taking it a bit far and is getting stalkerish. This thread is starting to become more about him than Factom. How about we rename it "Re: [ANN] GROSSBIT - Introducing Fear and Uncertainty to Every Forum Post)"?

It blows my mind that anyone was able to somehow spin today's news into a negative. I think he even called it "non-news" at some point. But I suppose we should listen, because he did win 40 Bitcoin on Polo  

I think I will join the Factom team in stepping away from this toxic thread for a while.

the real news is the list of big investors included some VC celebrities, which certainly can interpreted as a good thing.

the headlines news were of a ("new") round of funding of 4.2M usd. It turns out that this amount was related to the Series A funding which closed in July earlier.
At the time, it was announced that the amount raised was over 5M usd. it turns out that it was only 4.2M, less than initially announced.

The delay between the filing and the end of the bnktothefuture subscription can be explained by paperwork. But the timing is a little bit "strange" or "fortunate", or just lucky :-)

I will let the FCT market vote

in the meanwhile, its kind of a "positive" news for A-shares holder as it means no dilution. However less funding means less development, i don't know which is best for the LT. I trust that Factom has raised the right amount of money to be able to conduct their business. Anyway its also the own interest of the founders to avoid share dilution.

Well i am ready to retract my words if I am wrong , but i think i've given enough evidence to those who want to examine it seriously. bnktothefuture have confirmed themselves. you just need to create an account and see it on their site.

In my opinion it's pretty simple: The headline is more about the personality Tim Draper. And of course, he has a big name and he also has connections that might help. It gives additional trust if a guy like Draper obviously believes in Factom and the FCT-price react.

Is it a big news like the M2-release would be (will be)? Of course not. It's just one information in between. Not more, not less. And while I wouldn't say it's something to get overexcited about - it's still a good news.

I'm not even sure why it needs that much controversy about something like that. I myself was kind of confused after the first article was taken down but now that info is safe, the price reacted a little bit, but much more important is what will come. And the Factom-team is known for their hard work and that they deliver.

With other words: I'm already invested but if I should make a decision now, I wouldn't buy into because of the latest news or the name "Tim Draper". I would buy into because I know what will happen when they'll release M2 and exodus will add Factoids and when it will be about new partnerships.

I'm sure about that there is a lot in the pipeline. That is the Factom-potential I've never seen this way in other projects until now.

[Bagatell]

http://fundersandfounders.com/inside-the-vc-mind-tim-draper-riskmastering/

[Elpadrinho]

This place is a serious mess. There's even two sides, and both aren't able to communicate rationally between each other.

LOL  dude your're the serious mess with all the FUD vomit that comes out of your mouth about FCT. Go back to drinking kool-aid buddy!

[willowfoot]

Reuters picked it up:
http://www.reuters.com/article/us-factom-blockchain-draper-idUSKCN1251RG

Infographic on Draper is very insightful!

[nowhere man]

Lot of chit-chat today but I think most of it misses the mark. The news about the Series A funding is pretty good, nice to see factom will be liquid for a while (although they have quite a big team with salaries to pay) and they have the support of some big names in crypto. Should help to legitimise them when promoting the factom product to future companies.

But as a potential factoid investor, I want to know how much demand they can expect to create for this blockchain. The 'break even' figure which we all arrived at was 200 million entries per month if memory serves, and that would support the current price (which at that time was 0.005 I think) at 78k rate of inflation. Now I know that big data is going to be......for want of a better word.....big. But can factom drive up the demand to those kinds of levels. This is the big question. Its good that we have the google docs spreadsheet as a document we can all refer to (nice n transparent) but I'd really like to hear of more companies with a need to factomise all their data, and to start seeing figures regarding how many factoids we can expect a company to buy. Demand drives price.

Obviously with wills, school qualifications, driving licences, passports, birth certificates, .......... (the list is endless really)........all in need of proof of existence, audit and process, if factom get's the number one spot in this nascent industry, holding factoids would be quite a good idea. Can the team pull it off?

Can I also thank Paul Snow for replying to me on reddit regarding the companies position on the selling of factoids. I think its fair to ask this question as whilst it could feel like an unpleasant accusation, we need to be open about the methods which the company intends to use to fund their organisation.

Best of luck everyone