[ANN] FACTOM - Introducing Honesty to Record-Keeping

[cherrycola]

Good to see the project moving forward with the recent hires

[Mrboot]

If I would buy on margin, there would have to be a pretty decent pullback.  If the value drops below 20%, you get margin called.  That 20% doesn't afford you a ton of wiggle room.  I shorted Monero not too long ago.  The damn thing was too volitale so I jumped out of it.  Lesson learned.

That's true, margin can be really dangerous. However there are ways around some of the dangers. I've been all-in FCT for a month or two now, and recently got bored, moved all my holdings into Margin, and am now using that as leverage to buy more FCT. The key: I only buy about 15% worth of the holdings I've moved into Margin, so will always have more than enough collateral to avoid a margin call. I have to pay the daily fee for borrowing the additional FCT (right now about .009%), but aside from that, I believe FCT will rise sooner or later, so it's really just a matter of doubling down, with the relatively small borrowing fee tacked on. Not recommending this to anyone, just ... FYI.

Im trading margin for over a year now and days like today can give you great profits, if poloniex would like to get me out of my margin then need to trow in more btc then they ever can win from me.

Btw if you are long on fct you actually dont borrow the fct, you borrow btc for that so your rate should be much higher. Unless your shorting fct you can see what your lending on the lending page.

[D-Lux]

Btw if you are long on fct you actually dont borrow the fct, you borrow btc for that so your rate should be much higher. Unless your shorting fct you can see what your lending on the lending page.

Right, thanks -- still figuring it out. I thought the fees were adding up a little faster than I was expecting. Still staying in, but good to know.

[Jjtjjt]

If I would buy on margin, there would have to be a pretty decent pullback.  If the value drops below 20%, you get margin called.  That 20% doesn't afford you a ton of wiggle room.  I shorted Monero not too long ago.  The damn thing was too volitale so I jumped out of it.  Lesson learned.

That's true, margin can be really dangerous. However there are ways around some of the dangers. I've been all-in FCT for a month or two now, and recently got bored, moved all my holdings into Margin, and am now using that as leverage to buy more FCT. The key: I only buy about 15% worth of the holdings I've moved into Margin, so will always have more than enough collateral to avoid a margin call. I have to pay the daily fee for borrowing the additional FCT (right now about .009%), but aside from that, I believe FCT will rise sooner or later, so it's really just a matter of doubling down, with the relatively small borrowing fee tacked on. Not recommending this to anyone, just ... FYI.

Im trading margin for over a year now and days like today can give you great profits, if poloniex would like to get me out of my margin then need to trow in more btc then they ever can win from me.

Btw if you are long on fct you actually dont borrow the fct, you borrow btc for that so your rate should be much higher. Unless your shorting fct you can see what your lending on the lending page.

Ok, got it.  I have been lending out on Polo, and never knew the rates were tied to shorting.  I thought it was a mix of longs and shorts.  People have been shorting the heck out of Clams.

[D-Lux]

Any artists on here? I thought of a drawing I'd love to see come to life, and have tried my hand at it but ... it's not looking great TBH. Basic idea: It's titled "FCT ELI5" but instead of a written description of Factom, it looks like a 5-year-old's drawing. "FCT" is a Godzilla-like creature smashing edifices labeled "Bad Govt" and "Corrupt Corp." and is blowing flames at "Bad Data" winged creatures, etc. Not sure how it sounds described like this but I think it could be fun / funny.

If you are an artist, PM me and I can share my initial sketches, or feel free to run w/ it yourself (tho let me know so we both don't do so, plz).

[daburone]

You guys are unreal. It goes down, manipulation, fake walls, people suppressing the price etc. It goes up, manipulation, whales playing with the market, blah blah.

Bunch of twelve year olds in here.

[BrianDeery]

I have two question to the Team about Factom.

1) Is factom limited to entry's now and in m2 compared to servers or there is no limitations ? now they have private servers and
inside m2 8 public servers right ?

2) If Factom is going to write on diffrent chains aswell will this be added or Company can have a choice to pick chains
And will they need more entry coins if you use btc and eth chain for example?

Edit*
3) one more question , before the launch of M2 David Johnston was talking about a Public testnet on the github i find this on github at m2

Testing M2

The test team is working on the master branch, while the developers are working on the m2 branch. But because of shared repositories (some of which have some m2 changes), moving between milestone 1 code, m2s, and m2 is a bit complicated. The all.sh script is your friend. Follow these steps to get M2 setup and running for test:


Is this the public testnet or will it still be released ?

Cause now my coins are still on an exchange and i would love to withdraw them to exodus wallet but they only integrate factom on M2.

Kind Regards,

1. I don't understand question 1.

2. There will be no difference in the cost to place data into factom when the anchors are placed into more that just Bitcoin.

3. you will know about the public testnet when we are ready to have the community start experimenting with it.  You can run your own m2 simulation with dozens of nodes on your local computer testing different topologies, adding nodes and removing them, etc.  If the technically inclined want to play with it, let me know.  http://imgur.com/XuSRcsm

The corner is quickly approaching.

[Mrboot]

Thanks Brian,

With the first i ment

Is factom limited to entry coins (server limitations) before milestone 2 ?

Might run a server got some extra vps left here and there.

Thx for the reply!

[Mrboot]

You guys are unreal. It goes down, manipulation, fake walls, people suppressing the price etc. It goes up, manipulation, whales playing with the market, blah blah.

Bunch of twelve year olds in here.

Cause people give their opinion here they are twelve, really mature answer aswell. let me explain it, it's a forum people say what they like to say.

Some agree some dont thats how it works.

And indeed markets are beeing manipulated thats obvious, but lets ride the waves till m2 is there.

[tempus]

You guys are unreal. It goes down, manipulation, fake walls, people suppressing the price etc. It goes up, manipulation, whales playing with the market, blah blah.

Bunch of twelve year olds in here.

It is a fact that the market is very manipulated and that is the case since many months. I don't complain about it, because it's kind of normal in Crypto (it's not only Factom). Sometimes it's done smart and strategic and sometimes it's done very stupid - but whoever does it on the Factom-market does it strategic. And I would consider it as naive to see that hundreds of BTC show up or are pulled in one second - same on the sell side with FCT - and to believe that hundreds of Polo-Users did that.

And of course manipulators don't have full control. And maybe it's about two or more groups. But it's nearly always the same: Just a few guys control the majority of a market.

Even true for Bitcoin:

huobi.com receives about 21,500 unique visitors and 66,650 (3.10 per visitor) page views per day
okcoin.com receives about 9,849 unique visitors and 48,261 (4.90 per visitor) page views per day

yuanbao.com receives about 3,250 unique visitors and 15,600 (4.80 per visitor) page views per day....(that's the chinese exchange that listed FCT)

bittrex.com receives about 64,500 unique visitors and 233,490 (3.62 per visitor) page views per 
poloniex.com receives about 133,500 unique visitors and 809,010 (6.06 per visitor) page views per day


Source: http://www.hypestat.com

Even Bittrex has more clicks than the biggest Bitcoin-exchange of the world. Interesting, right?


In Crypto there is nearly nothing that really is how it seems.

 

[daburone]

You guys are unreal. It goes down, manipulation, fake walls, people suppressing the price etc. It goes up, manipulation, whales playing with the market, blah blah.

Bunch of twelve year olds in here.

It is a fact that the market is very manipulated and that is the case since many months. I don't complain about it, because it's kind of normal in Crypto (it's not only Factom). Sometimes it's done smart and strategic and sometimes it's done very stupid - but whoever does it on the Factom-market does it strategic. And I would consider it as naive to see that hundreds of BTC show up or are pulled in one second - same on the sell side with FCT - and to believe that hundreds of Polo-Users did that.

And of course manipulators don't have full control. And maybe it's about two or more groups. But it's nearly always the same: Just a few guys control the majority of a market.

These "whales" you guys speak of are just other investors/speculators who happen to be playing with a lot more money than the rest of us. They aren't necessarily trying to angle for every little BTC by chipping away at the 3.5BTC bot to get their orders matched. I remember earlier this year someone sold like 1,000BTC worth of MAID in two crude market orders. The MAID initially community cried "manipulation" etc. It later came to light that the seller was a very early investor and was handsomely in the profit zone. It's no different to those guys who pull up in a Lambo in a no-standing-zone and just eat the ticket because it's not worth their time to find a park.

[crazyivan]

The corner is quickly approaching.

This is what is important. Brian said good stuff is just around the corner a few months ago. This means we re very close and there no doubt testnet and M2 will take place this year. Again, this is how I interpret his words, I dont think there s any other interpretation.

[Mrboot]

The corner is quickly approaching.

This is what is important. Brian said good stuff is just around the corner a few months ago. This means we re very close and there no doubt testnet and M2 will take place this year. Again, this is how I interpret his words, I dont think there s any other interpretation.

I would be really happy with M2 also cause then finaly Exodus will add Factom, so we have a great wallet

[tempus]

You guys are unreal. It goes down, manipulation, fake walls, people suppressing the price etc. It goes up, manipulation, whales playing with the market, blah blah.

Bunch of twelve year olds in here.

It is a fact that the market is very manipulated and that is the case since many months. I don't complain about it, because it's kind of normal in Crypto (it's not only Factom). Sometimes it's done smart and strategic and sometimes it's done very stupid - but whoever does it on the Factom-market does it strategic. And I would consider it as naive to see that hundreds of BTC show up or are pulled in one second - same on the sell side with FCT - and to believe that hundreds of Polo-Users did that.

And of course manipulators don't have full control. And maybe it's about two or more groups. But it's nearly always the same: Just a few guys control the majority of a market.

These "whales" you guys speak of are just other investors/speculators who happen to be playing with a lot more money than the rest of us. They aren't necessarily trying to angle for every little BTC by chipping away at the 3.5BTC bot to get their orders matched. I remember earlier this year someone sold like 1,000BTC worth of MAID in two crude market orders. The MAID initially community cried "manipulation" etc. It later came to light that the seller was a very early investor and was handsomely in the profit zone. It's no different to those guys who pull up in a Lambo in a no-standing-zone and just eat the ticket because it's not worth their time to find a park.

I disagree. Because what is done in the market is that very low buy-orders are set - about hundreds of Bitcoins and without any intention to buy. The same happens the other way around - huge sell-walls that are often pulled if touched.

And again: That is normal in nearly all markets with significant volume. I consider it as naive to believe in "natural markets" which are very rare - only if very intense news (very good or very bad).

[Blazin8888]

Github is down  - massive cyber attack going on atm... twitter as well...buch of sites... see here:

http://www.cbsnews.com/news/internet-disrupted-dyn-hit-by-ddos-cyberattack/

https://techcrunch.com/2016/10/21/many-sites-including-twitter-and-spotify-suffering-outage/

[Mimir]

Serious stuff, a state actor playing their games and testing the waters while the US in election mode.

[D-Lux]

Serious stuff, a state actor playing their games and testing the waters while the US in election mode.

Yeah, didn't want to say it but IMO that's likely exactly it. Incidentally I've been following MAID as well and there was a discussion over the past day about whether the SAFE Network could prevent something like this. There's no 100% certainty ATM, but it seems likely it would—i.e. that the Network wouldn't be at risk of this kind of attack. Would have to see the Network up and running though. Random MAID plug, but apropos I think ...

[Mrboot]

Serious stuff, a state actor playing their games and testing the waters while the US in election mode.

Yeah, didn't want to say it but IMO that's likely exactly it. Incidentally I've been following MAID as well and there was a discussion over the past day about whether the SAFE Network could prevent something like this. There's no 100% certainty ATM, but it seems likely it would—i.e. that the Network wouldn't be at risk of this kind of attack. Would have to see the Network up and running though. Random MAID plug, but apropos I think ...

Maid is designed to resist ddos attacks like this and will for sure not suffer from it, maid biggest concern is with big data from providers and then beeing pulled, but Factom and Maid both have a great future.
They are the coins that can multiply with 10 to 100 factor if you ask me.

[Mimir]

Maid is designed to resist ddos attacks like this and will for sure not suffer from it

Agree
I hope they get there. It would make the world a better place.

[Jjtjjt]

Maid is designed to resist ddos attacks like this and will for sure not suffer from it

Agree
I hope they get there. It would make the world a better place.

Factom seems a little more transparent than MAID.