[ANN] FACTOM - Introducing Honesty to Record-Keeping

[haggis]

And to all those guys thinking that someone is manipulating the market:

I think this is just stupid FUD all the time.
It is just possible to make money of "manipulating" if ppl buy or sell on panic or make stupid moves at all. Otherwise if a big whale moves the market he is the one who looses the most.

How do you call it if within a second the buy side drops from 800 BTC to 150 BTC and goes to 800 BTC again 5min later? If that is not manipulation you're either naive or don't know the meaning of the word manipulation.

This is btw something you go to jail in a lot of countries. Waiting for the day these laws also apply to crypto.

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[nowhere man]

If the buy side goes from 800 to 150 to 800, it implies one of three things. (a) is what actually happened.

(a) 650 bitcoins were dumped onto the market.
(b) 650 bitcoins were removed from the buy side by one person.
(c) 650 bitcoins were removed from the buy side simultaneously by many people.

(c) is highly unlikely. You seem to think that (b) is the answer. If that's the case, then the buy side for factom is in fact very weak. Fortunately its not. After the mega dump, the buys were all sold into. Well that's what happens when you dump. Recovered almost immediately as everyone wants to buy cheap.

[tempus]

If the buy side goes from 800 to 150 to 800, it implies one of three things. (a) is what actually happened.

(a) 650 bitcoins were dumped onto the market.
(b) 650 bitcoins were removed from the buy side by one person.
(c) 650 bitcoins were removed from the buy side simultaneously by many people.

(c) is highly unlikely. You seem to think that (b) is the answer. If that's the case, then the buy side for factom is in fact very weak. Fortunately its not. After the mega dump, the buys were all sold into. Well that's what happens when you dump. Recovered almost immediately as everyone wants to buy cheap.

There is one more scenario: Like b) but not one person but a group - that acts strategic.

[belowizard]

I tried to look up what happened with the Honduras deal, but could only find old info ... nothing new. Is there a way to look up recent developments customer/usecase wise? thx

[Jjtjjt]

I am having trouble understanding how factom secures things on the blockchain.  I've read that the factom protocol places a simple hash on the blockchain but that information is kept off the blockchain on private servers.  First, what are "federated servers"  is that similar to dedicated?  And I am not sure I fully understand this on the blockchain but not on the blockchain protocol.  I do know that one of the reasons banks are weary of bitcoin but like the idea of ripple is the issue of public info on the blockchain.  All I can find are coin desk articles, the factom website, and bitcointalk but my question is more specific.  I am also a investor, like everyone else I guess.  Thank you.

[tempus]

I tried to look up what happened with the Honduras deal, but could only find old info ... nothing new. Is there a way to look up recent developments customer/usecase wise? thx

Brian Deery gave some insights in this Interview (just click):

Factom Developer Insights - Brian Deery
https://www.youtube.com/watch?v=pcEZNeypL7M&feature=youtu.be&t=9m53s

[siaubas]

If the buy side goes from 800 to 150 to 800, it implies one of three things. (a) is what actually happened.

(a) 650 bitcoins were dumped onto the market.
(b) 650 bitcoins were removed from the buy side by one person.
(c) 650 bitcoins were removed from the buy side simultaneously by many people.

(c) is highly unlikely. You seem to think that (b) is the answer. If that's the case, then the buy side for factom is in fact very weak. Fortunately its not. After the mega dump, the buys were all sold into. Well that's what happens when you dump. Recovered almost immediately as everyone wants to buy cheap.

I don't know why people insist that everything is fine and dandy. Sure, stick your head into the ground and live in ignorance. It is easier that way...
The markets are always efficient.
There is no insider trading. Ever.
Heavily regulated bankers never cheat.
Unregulated exchanges/traders never take advantage of the unregulated system.
There is no hunger or war in this world.
Santa Claus is real.
Now go back to watching and discussing the Kardashians.

[tempus]

If the buy side goes from 800 to 150 to 800, it implies one of three things. (a) is what actually happened.

(a) 650 bitcoins were dumped onto the market.
(b) 650 bitcoins were removed from the buy side by one person.
(c) 650 bitcoins were removed from the buy side simultaneously by many people.

(c) is highly unlikely. You seem to think that (b) is the answer. If that's the case, then the buy side for factom is in fact very weak. Fortunately its not. After the mega dump, the buys were all sold into. Well that's what happens when you dump. Recovered almost immediately as everyone wants to buy cheap.

I don't know why people insist that everything is fine and dandy. Sure, stick your head into the ground and live in ignorance. It is easier that way...
The markets are always efficient.
There is no insider trading. Ever.
Heavily regulated bankers never cheat.
Unregulated exchanges/traders never take advantage of the unregulated system.
There is no hunger or war in this world.
Santa Claus is real.
Now go back to watching and discussing the Kardashians.

What exactly is not fine and dandy? Because the price did not continue to rise endless after it was about 5 times higher than just a few months back (June)?

That markets are manipulated is nothing new. Regarding all the other stuff: Factom first needs to release M2 and M3 before they can safe the world ........and santa claus.

What I find interesting are all the brand-new bct-users. Factom seems to be highly attractive to newbies lately. ;-)

[siaubas]

If the buy side goes from 800 to 150 to 800, it implies one of three things. (a) is what actually happened.

(a) 650 bitcoins were dumped onto the market.
(b) 650 bitcoins were removed from the buy side by one person.
(c) 650 bitcoins were removed from the buy side simultaneously by many people.

(c) is highly unlikely. You seem to think that (b) is the answer. If that's the case, then the buy side for factom is in fact very weak. Fortunately its not. After the mega dump, the buys were all sold into. Well that's what happens when you dump. Recovered almost immediately as everyone wants to buy cheap.

I don't know why people insist that everything is fine and dandy. Sure, stick your head into the ground and live in ignorance. It is easier that way...
The markets are always efficient.
There is no insider trading. Ever.
Heavily regulated bankers never cheat.
Unregulated exchanges/traders never take advantage of the unregulated system.
There is no hunger or war in this world.
Santa Claus is real.
Now go back to watching and discussing the Kardashians.

What exactly is not fine and dandy? Because the price did not continue to rise endless after it was about 5 times higher than just a few months back (June)?

That markets are manipulated is nothing new. Regarding all the other stuff: Factom first needs to release M2 and M3 before they can safe the world ........and santa claus.

What I find interesting are all the brand-new bct-users. Factom seems to be highly attractive to newbies lately. ;-)

I am not complaining about the price drop. It should have corrected. Probably not this far, not this fast though.
It sounds absurd when someone suggests that the price is not manipulated. That is all. If I had 1000+ BTC, I'd manipulate it myself.
I'm in for the long run, so I'm not too concerned.

[tempus]

If the buy side goes from 800 to 150 to 800, it implies one of three things. (a) is what actually happened.

(a) 650 bitcoins were dumped onto the market.
(b) 650 bitcoins were removed from the buy side by one person.
(c) 650 bitcoins were removed from the buy side simultaneously by many people.

(c) is highly unlikely. You seem to think that (b) is the answer. If that's the case, then the buy side for factom is in fact very weak. Fortunately its not. After the mega dump, the buys were all sold into. Well that's what happens when you dump. Recovered almost immediately as everyone wants to buy cheap.

I don't know why people insist that everything is fine and dandy. Sure, stick your head into the ground and live in ignorance. It is easier that way...
The markets are always efficient.
There is no insider trading. Ever.
Heavily regulated bankers never cheat.
Unregulated exchanges/traders never take advantage of the unregulated system.
There is no hunger or war in this world.
Santa Claus is real.
Now go back to watching and discussing the Kardashians.

What exactly is not fine and dandy? Because the price did not continue to rise endless after it was about 5 times higher than just a few months back (June)?

That markets are manipulated is nothing new. Regarding all the other stuff: Factom first needs to release M2 and M3 before they can safe the world ........and santa claus.

What I find interesting are all the brand-new bct-users. Factom seems to be highly attractive to newbies lately. ;-)

I am not complaining about the price drop. It should have corrected. Probably not this far, not this fast though.
It sounds absurd when someone suggests that the price is not manipulated. That is all. If I had 1000+ BTC, I'd manipulate it myself.
I'm in for the long run, so I'm not too concerned.

Who did say it is not manipulated?

[Freckleg]

Nice to see Factom gained a few resident trolls, a few or one with all the newbie accounts. Every top project needs to have at least one resident troll, otherwise it is not  a top project

[BrianDeery]

I am having trouble understanding how factom secures things on the blockchain.  I've read that the factom protocol places a simple hash on the blockchain but that information is kept off the blockchain on private servers.  First, what are "federated servers"  is that similar to dedicated?  And I am not sure I fully understand this on the blockchain but not on the blockchain protocol.  I do know that one of the reasons banks are weary of bitcoin but like the idea of ripple is the issue of public info on the blockchain.  All I can find are coin desk articles, the factom website, and bitcointalk but my question is more specific.  I am also a investor, like everyone else I guess.  Thank you.

A good place to start is with the whitepaper.  This will catch you up on the basics.

https://github.com/FactomProject/FactomDocs/blob/master/Factom_Whitepaper.pdf

If you still want more after digesting the 38 page whitepaper, we have another follow up paper with more details.

https://github.com/FactomProject/FactomDocs/blob/master/FactomLedgerbyConsensus.pdf

[belowizard]

what are the current biggest competitors? I read there are none, but cant really believe that

[siaubas]

I am having trouble understanding how factom secures things on the blockchain.  I've read that the factom protocol places a simple hash on the blockchain but that information is kept off the blockchain on private servers.  First, what are "federated servers"  is that similar to dedicated?  And I am not sure I fully understand this on the blockchain but not on the blockchain protocol.  I do know that one of the reasons banks are weary of bitcoin but like the idea of ripple is the issue of public info on the blockchain.  All I can find are coin desk articles, the factom website, and bitcointalk but my question is more specific.  I am also a investor, like everyone else I guess.  Thank you.

A good place to start is with the whitepaper.  This will catch you up on the basics.

https://github.com/FactomProject/FactomDocs/blob/master/Factom_Whitepaper.pdf

If you still want more after digesting the 38 page whitepaper, we have another follow up paper with more details.

https://github.com/FactomProject/FactomDocs/blob/master/FactomLedgerbyConsensus.pdf

Brian, IMHO, Factom Inc should consider a name change. For example, Factom Utilities Inc.
There is just way way too much overlap and confusion in using the Factom name:

'Factom got funding', 'Factom is forking and implementing new possibilities', 'Factom reports it owns 5% of Factom', 'Company XYZ is going to provide services on Factom'.

[tempus]

what are the current biggest competitors? I read there are none, but cant really believe that

Not interested in Honduras any more? ;-)

Competitors: Maybe Tierion - but it's also different (not decentralized like Factom). I believe it's a good project but not really a competitor. There is also a project that is called stampery. But I don't know if it can be seen as competitor. I believe Factom is Nr. 1 in what they do.

[tempus]

I am having trouble understanding how factom secures things on the blockchain.  I've read that the factom protocol places a simple hash on the blockchain but that information is kept off the blockchain on private servers.  First, what are "federated servers"  is that similar to dedicated?  And I am not sure I fully understand this on the blockchain but not on the blockchain protocol.  I do know that one of the reasons banks are weary of bitcoin but like the idea of ripple is the issue of public info on the blockchain.  All I can find are coin desk articles, the factom website, and bitcointalk but my question is more specific.  I am also a investor, like everyone else I guess.  Thank you.

A good place to start is with the whitepaper.  This will catch you up on the basics.

https://github.com/FactomProject/FactomDocs/blob/master/Factom_Whitepaper.pdf

If you still want more after digesting the 38 page whitepaper, we have another follow up paper with more details.

https://github.com/FactomProject/FactomDocs/blob/master/FactomLedgerbyConsensus.pdf

Brian, IMHO, Factom Inc should consider a name change. For example, Factom Utilities Inc.
There is just way way too much overlap and confusion in using the Factom name:

'Factom got funding', 'Factom is forking and implementing new possibilities', 'Factom reports it owns 5% of Factom', 'Company XYZ is going to provide services on Factom'.

Date Registered: Today at 05:56:49 AM

Understandable that it's all so confusing for you. But you'll learn. ;-)

[BrianDeery]

The biggest competitor I see is Status Quo.  They have a huge market lead.  While their security isn't as good, and their documents are subject to tampering, the business types often prefer that style of technology.

[BrianDeery]

I am having trouble understanding how factom secures things on the blockchain.  I've read that the factom protocol places a simple hash on the blockchain but that information is kept off the blockchain on private servers.  First, what are "federated servers"  is that similar to dedicated?  And I am not sure I fully understand this on the blockchain but not on the blockchain protocol.  I do know that one of the reasons banks are weary of bitcoin but like the idea of ripple is the issue of public info on the blockchain.  All I can find are coin desk articles, the factom website, and bitcointalk but my question is more specific.  I am also a investor, like everyone else I guess.  Thank you.

A good place to start is with the whitepaper.  This will catch you up on the basics.

https://github.com/FactomProject/FactomDocs/blob/master/Factom_Whitepaper.pdf

If you still want more after digesting the 38 page whitepaper, we have another follow up paper with more details.

https://github.com/FactomProject/FactomDocs/blob/master/FactomLedgerbyConsensus.pdf

Brian, IMHO, Factom Inc should consider a name change. For example, Factom Utilities Inc.
There is just way way too much overlap and confusion in using the Factom name:

'Factom got funding', 'Factom is forking and implementing new possibilities', 'Factom reports it owns 5% of Factom', 'Company XYZ is going to provide services on Factom'.

I think the name Factom is a lot better than Notary Chains, which is what the project started out as:
https://github.com/NotaryChains/NotaryChainDocs
https://www.youtube.com/watch?v=HN7ewkc9uiM

[AlanX]

what are the current biggest competitors? I read there are none, but cant really believe that

In the very specific category of Distributed Autonomous Protocols securing Data against Bitcoin and other blockchains, we do not have much competition.  There are private and centralized solutions and products that satisfy some of the requirements for use cases that we are targeting.   These include Tierion (https://tierion.com/features), Proof of Existence (https://proofofexistence.com), BigchainDB (https://www.bigchaindb.com/features/), ChainDB (https://bitpay.com/chaindb.pdf) and likely others.  Efforts like R3 and Hypterledger may produce some competition.

We are still in the early stages of blockchain tech, but we feel Factom is at the leading edge.

[Jjtjjt]

I am having trouble understanding how factom secures things on the blockchain.  I've read that the factom protocol places a simple hash on the blockchain but that information is kept off the blockchain on private servers.  First, what are "federated servers"  is that similar to dedicated?  And I am not sure I fully understand this on the blockchain but not on the blockchain protocol.  I do know that one of the reasons banks are weary of bitcoin but like the idea of ripple is the issue of public info on the blockchain.  All I can find are coin desk articles, the factom website, and bitcointalk but my question is more specific.  I am also a investor, like everyone else I guess.  Thank you.

A good place to start is with the whitepaper.  This will catch you up on the basics.

https://github.com/FactomProject/FactomDocs/blob/master/Factom_Whitepaper.pdf

If you still want more after digesting the 38 page whitepaper, we have another follow up paper with more details.

https://github.com/FactomProject/FactomDocs/blob/master/FactomLedgerbyConsensus.pdf

I appreciate the white paper reference and I know about that, but I'm not a computer programmer.  Any articles that break it down into laymen terms?