[ANN] FACTOM - Introducing Honesty to Record-Keeping

[crazyivan]

People, things re gonna change quite soon.

Let me quote what Paul posted on reddit a few days ago:

"A couple of months ago I said we were weeks away from a testnet. Our schedule is dictated by testing, and we are testing the heck out of M2, so we are at the edge of that statement. We are quiet, but as Github shows we are hard at work. I am not ready to delay out to 2017. I've been terrible at estimating our schedule, so I'll not say more than that."

So, he says, WE RE AT THE EDGE OF THAT STATEMENT. Does the edge mean 6 months? No. Does it mean 3 months? No. It means soon. So, be a bit more patient and let s launch this ship.

Huge dump on FCT M2 release...

Buy the rumour, sell the news..

POOR BAGHOLDERS

Looking at your post history, you re A TEXTBOOK example of a pump and dump troll. First you invested all of your energy in hyping FCT, then u sold, now u re trying to fud it so you can buy low. Damn dude, get a life.

Should we really be encouraging their deluded little minds, into thinking they might have the power to move a given market?

Well, I stand corrected. These asses do not deserve a single letter from my side. So I ll stop talking to them but they will continue FUDing this thread. I do not see that as a solution either.

[YoyodyneSystems]

Bitcoin is about to enter a month long downtrend back to mid to high 600s
Probably starting today or tomorrow.

So that would be a nice window for the Factom accumulator to make his move.
Something like what happened with the XMR 10x rise would be nice.
Maybe they are even the same group. Ya never know!

Nice call, btw.

Thanks. Hah .. wrote it just a few hours before it happened.

After a possible BTC bounce or two upward over the next 1-2 weeks the window for Factom should open up as people become comfortable with BTC not going over 750.
Second massive triangle is forming on BTC. During it's formation will be a great time for some alts.
They have about 3 months from now till BTC breaks up to $1200 in February

I happened to notice that FCT had a very similar pattern on it's last rise that XMR did before XMR went 10x to 200 million dollars market cap.
Just so happens that FCT is about 1/10th of that lately.

So if there is a slow rise on FCT over the next 4-6 weeks.... best be ready.
The target would be to see FCT go 10x (to 0.03 BTC) around Christmas with BTC flattening out in the 710-720 area.
This is assuming the same people that moved XMR will do a similar pattern with FCT in the same time frame.

It's the perfect time and the perfect coin for it.
It's the most logical margin traded coin on Polo that next up for a major rise.

Let's see if I get that one right.

[nowhere man]

Bitcoin is about to enter a month long downtrend back to mid to high 600s
Probably starting today or tomorrow.

So that would be a nice window for the Factom accumulator to make his move.
Something like what happened with the XMR 10x rise would be nice.
Maybe they are even the same group. Ya never know!

Nice call, btw.

Thanks.

After a possible BTC bounce or two upward over the next 1-2 weeks the window for Factom should open up as people become comfortable with BTC not going over 750.
Second massive triangle is forming on BTC. During it's formation will be a great time for some alts.
They have about 3 months from now till BTC breaks up to $1200 in February

I happened to notice that FCT had a very similar pattern on it's last rise that XMR did before XMR went 10x to 200 million dollars market cap.
Just so happens that FCT is about 1/10th of that lately.

So if there is a slow rise on FCT over the next 4-6 weeks.... best be ready.
The target would be to see FCT go 10x (to 0.03 BTC) around Christmas with BTC flattening out in the 710-720 area.
This is assuming the same people that moved XMR will do a similar pattern with FCT in the same time frame.

Let's see if I get that one right.
It's the perfect time and the perfect coin for it.

Well credit where its due - you called the bitcoin selloff perfectly. Do you work for zerohedge? Anyway, these pushes tend to happen on the back of announcements (for xmr it was the oasis and alphabay double whammy) and if factom release testnet, then the real thing plus a couple more business announcements could create the right kind of conditions for a big rise as the drip drip drip of good news gets traders all hot and bothered. I still think we need something more tangible to justify factoid prices - as Grossbit suggested - company X will need to buy Z amount of factoids per month - for it to really hold its gains. We shall see.

I keep backing off of factom, but after the last dump down to 0.0023 I couldn't help but dip my toe in again. I also think that more delays combined with the news void that factom manages to generate could lead to a drop down to the 0.0015's......But I'm going to let the small amount I bought ride as a longshot and cross my fingers. Best of luck everyone. Its a jungle out there.

[stereotype]

People, things re gonna change quite soon.

Let me quote what Paul posted on reddit a few days ago:

"A couple of months ago I said we were weeks away from a testnet. Our schedule is dictated by testing, and we are testing the heck out of M2, so we are at the edge of that statement. We are quiet, but as Github shows we are hard at work. I am not ready to delay out to 2017. I've been terrible at estimating our schedule, so I'll not say more than that."

So, he says, WE RE AT THE EDGE OF THAT STATEMENT. Does the edge mean 6 months? No. Does it mean 3 months? No. It means soon. So, be a bit more patient and let s launch this ship.

Huge dump on FCT M2 release...

Buy the rumour, sell the news..

POOR BAGHOLDERS

Looking at your post history, you re A TEXTBOOK example of a pump and dump troll. First you invested all of your energy in hyping FCT, then u sold, now u re trying to fud it so you can buy low. Damn dude, get a life.

Should we really be encouraging their deluded little minds, into thinking they might have the power to move a given market?

Well, I stand corrected. These asses do not deserve a single letter from my side. So I ll stop talking to them but they will continue FUDing this thread. I do not see that as a solution either.

Yeah, sorry mate.  But this, FUD=buy lower opportunity, i keep reading on this forum, takes sophistication and a broader audience to pull off. For example..... http://fintekneeks.com/zerohedge-fakes-bitcoin-panic/

Anyway, go Factom.

[mig5000]

I think we need something more tangible to justify factoid prices - as Grossbit suggested - company X will need to buy Z amount of factoids per month - for it to really hold its gains. We shall see.

You will not have these type of announcement before M3 goes live. Right now it's still testing.


Also. When I get out of a coin, I don't waste 3 hours per day on the forums of the coins I just dumped. These people coming back are just trying to FUD to get cheaper FCT. They might be bearish for now but would def go back all in again if it dropped some more. At the current marketcap, not sure what could go wrong here as FCT seems to have a dedicated team compared to most crypto.

[stereotype]

I think we need something more tangible to justify factoid prices - as Grossbit suggested - company X will need to buy Z amount of factoids per month - for it to really hold its gains. We shall see.

You will not have these type of announcement before M3 goes live. Right now it's still testing.


Also. When I get out of a coin, I don't waste 3 hours per day on the forums of the coins I just dumped. These people coming back are just trying to FUD to get cheaper FCT. They might be bearish for now but would def go back all in again if it dropped some more. At the current marketcap, not sure what could go wrong here as FCT seems to have a dedicated team compared to most crypto.

FFS. The very next post.   

[neo1947]

People, things re gonna change quite soon.

Let me quote what Paul posted on reddit a few days ago:

"A couple of months ago I said we were weeks away from a testnet. Our schedule is dictated by testing, and we are testing the heck out of M2, so we are at the edge of that statement. We are quiet, but as Github shows we are hard at work. I am not ready to delay out to 2017. I've been terrible at estimating our schedule, so I'll not say more than that."

So, he says, WE RE AT THE EDGE OF THAT STATEMENT. Does the edge mean 6 months? No. Does it mean 3 months? No. It means soon. So, be a bit more patient and let s launch this ship.

Huge dump on FCT M2 release...

Buy the rumour, sell the news..

POOR BAGHOLDERS

Looking at your post history, you re A TEXTBOOK example of a pump and dump troll. First you invested all of your energy in hyping FCT, then u sold, now u re trying to fud it so you can buy low. Damn dude, get a life.

Should we really be encouraging their deluded little minds, into thinking they might have the power to move a given market?

Well, I stand corrected. These asses do not deserve a single letter from my side. So I ll stop talking to them but they will continue FUDing this thread. I do not see that as a solution either.

Yeah, sorry mate.  But this, FUD=buy lower opportunity, i keep reading on this forum, takes sophistication and a broader audience to pull off. For example..... http://fintekneeks.com/zerohedge-fakes-bitcoin-panic/

Anyway, go Factom.

Solid projects like Factom are going to stay in this field for for a long time hence Bitcoin,ppl have not realized how disruptive Blockchain tech is yet .
Still buying.
Great article,a must read imo

Have a nice weekend

[nowhere man]

I think we need something more tangible to justify factoid prices - as Grossbit suggested - company X will need to buy Z amount of factoids per month - for it to really hold its gains. We shall see.

You will not have these type of announcement before M3 goes live. Right now it's still testing.


Also. When I get out of a coin, I don't waste 3 hours per day on the forums of the coins I just dumped. These people coming back are just trying to FUD to get cheaper FCT. They might be bearish for now but would def go back all in again if it dropped some more. At the current marketcap, not sure what could go wrong here as FCT seems to have a dedicated team compared to most crypto.

Read my post again. None of it was remotely negative, save for the obvious statement that delay and lack of news = price decline. Maybe you'd prefer this thread to become some kind of love letter to Brian Deery. I'd rather it was an honest and open discussion between factom traders.

Can you explain why it wouldn't be in factom's best interests to reveal that kind of information before M3? I'd be interested to hear your reasoning.  

[D-Lux]

I still think we need something more tangible to justify factoid prices - as Grossbit suggested - company X will need to buy Z amount of factoids per month - for it to really hold its gains.

I'm curious—which Alts do you see living up this this criterion of current economic viability? Or did I misread you?
IMO this is more a criterion for established, public market companies, and even those have P/E ratios, sometimes in the dozens or 100+.

Factom is one of the only crypto projects currently selling a real service, and as most people on this sub are aware, the rate of adoption is significant:

https://docs.google.com/spreadsheets/d/1RUZLxxoAfT3C5jIJ144DLYdztYe_sqrKqbTlZuD05-s/edit?pref=2&pli=1#gid=445871101

[D-Lux]

Thanks. Hah .. wrote it just a few hours before it happened.

After a possible BTC bounce or two upward over the next 1-2 weeks the window for Factom should open up as people become comfortable with BTC not going over 750.
Second massive triangle is forming on BTC. During it's formation will be a great time for some alts.
They have about 3 months from now till BTC breaks up to $1200 in February

I happened to notice that FCT had a very similar pattern on it's last rise that XMR did before XMR went 10x to 200 million dollars market cap.
Just so happens that FCT is about 1/10th of that lately.

So if there is a slow rise on FCT over the next 4-6 weeks.... best be ready.
The target would be to see FCT go 10x (to 0.03 BTC) around Christmas with BTC flattening out in the 710-720 area.
This is assuming the same people that moved XMR will do a similar pattern with FCT in the same time frame.

It's the perfect time and the perfect coin for it.
It's the most logical margin traded coin on Polo that next up for a major rise.

Let's see if I get that one right.

Nice, just printed out your post to give it a longer think. Do you mind if I ask what you were looking at when you made your first prediction about BTC's decline? I imagine a bunch of things, but what caused you (indicators, chatter, etc) to come to your conclusion?

[crazyivan]

Thanks. Hah .. wrote it just a few hours before it happened.

After a possible BTC bounce or two upward over the next 1-2 weeks the window for Factom should open up as people become comfortable with BTC not going over 750.
Second massive triangle is forming on BTC. During it's formation will be a great time for some alts.
They have about 3 months from now till BTC breaks up to $1200 in February

I happened to notice that FCT had a very similar pattern on it's last rise that XMR did before XMR went 10x to 200 million dollars market cap.
Just so happens that FCT is about 1/10th of that lately.

So if there is a slow rise on FCT over the next 4-6 weeks.... best be ready.
The target would be to see FCT go 10x (to 0.03 BTC) around Christmas with BTC flattening out in the 710-720 area.
This is assuming the same people that moved XMR will do a similar pattern with FCT in the same time frame.

It's the perfect time and the perfect coin for it.
It's the most logical margin traded coin on Polo that next up for a major rise.

Let's see if I get that one right.

0.03 around Xmas? This year Xmas? Ugh, that sound too good too be true. You all know what happens to promises about things which seem to be too good to be true.

Nice, just printed out your post to give it a longer think. Do you mind if I ask what you were looking at when you made your first prediction about BTC's decline? I imagine a bunch of things, but what caused you (indicators, chatter, etc) to come to your conclusion?

[Shiroslullaby]

Factom is one of the only crypto projects currently selling a real service, and as most people on this sub are aware, the rate of adoption is significant:

https://docs.google.com/spreadsheets/d/1RUZLxxoAfT3C5jIJ144DLYdztYe_sqrKqbTlZuD05-s/edit?pref=2&pli=1#gid=445871101

Where are the figures in this document from?

[D-Lux]

Factom is one of the only crypto projects currently selling a real service, and as most people on this sub are aware, the rate of adoption is significant:

https://docs.google.com/spreadsheets/d/1RUZLxxoAfT3C5jIJ144DLYdztYe_sqrKqbTlZuD05-s/edit?pref=2&pli=1#gid=445871101

Where are the figures in this document from?

I believe they're published by Factom.

[mig5000]

Can you explain why it wouldn't be in factom's best interests to reveal that kind of information before M3? I'd be interested to hear your reasoning.  

Come on man, Factom is not selling Milk or Bread here. They are selling a tech solution which is not yet completed and won't be 100% completed before M3. Do you think at this point that anyone is going to sign anything and say I'll buy 1B entries per day ?

They might have rough idea on what's going on but they are not going to vouch for their client at this point.

They have Serie A funding and are as close as it get in terms of commercialization in our little crypto world, it's not vaporware like ETH is and the marketcap is relatively low comparing to the potential upside . You have well known VC getting into it, unlike Ver or Shillbert.  It has one of the best r/r imho right now.

[CocoLibre]

Factom is one of the only crypto projects currently selling a real service, and as most people on this sub are aware, the rate of adoption is significant:

https://docs.google.com/spreadsheets/d/1RUZLxxoAfT3C5jIJ144DLYdztYe_sqrKqbTlZuD05-s/edit?pref=2&pli=1#gid=445871101

Where are the figures in this document from?

If you want the indepth information you can look up the op_returns on http://coinsecrets.org/ but this google doc is easier to read/sort versus the raw data; and its updated almost daily.

Much of the crypto market and many posters on this forum really are discounting the usage growth taking place so far. almost 5 million entries put onto the protocol since launch last year while in alpha capacity; thats approximately .05% of the total tokens currently issued or .1% of those that are trading. As most of you have seen the more recent usage additions have been putting on entries at a faster rate than prior POCs; almost 200k entries for Top100CC in 15 days. If this trend continues or accelerates after M2 we can start to see multiple new usage users putting on a million entries in less than a month. In that scenario we will see more than 1% of the float being consumed before the protocol transitions to M3 and starts inflation requiring about 7.3 million worth of entries per month to consume newly issued tokens.

I know the FUD crew have been citing factoids do not warrant its current price or any higher price in the future since the usage is low but these assumptions disregard any growth or market traction into 2017. Given the backing Factom has received from the United States goverment and high name venture capitalists why would the assumptions of outright failure or lackluster growth be the main focus? Unless of course you are looking to load the boat at the cheapest price possible  

[crazyivan]

Excellent, if you look at the table, from 3 to 4 million entries, it took 2 months to achieve this. From 4 to 5 million entries, 1 month and 1 week. So things re definitely speeding up. Can we speed up this process again, can we reach 6 million entries by the end of November?

[Mimir]

Until M2 there's no real reason for more entries, people need certainty first, after that its a viable product. Have thought about locking in EC's, even though it's a fixed rate, still purchasable for well less than predicted value of $0.001

It's a completely off-chain deal to make but really anyone can sell EC's. Factom cautiously encourage it because you helping and yet a competitor at the same time. Microsoft now open-sources products hidden for decades understanding the strength of it. I use powershell on linux these days, brave new future.

EC 30% cheaper than the market rate? Easily sell those EC private keys in future. Any serious user of the system would jump at the opportunity for a discount.

[Mimir]

That said, been playing around with M2, well cool. New control panel is amazing. Trying to overload the system with entries and it just takes it like a champ.

I'm usually here criticising current guiwallet and praising Exodus, but these lads have worked wonders on the control panel. Impressed. Highly versatile, not just a control panel anymore.

Intrigued about how Federated Servers will play out. Cloud services has democratised server infrastructure, anyone who can follow a complicated dinner recipe could setup a Federated Server on AWS, first movers may have advantage to earn FCT but given time people will eventually find out and the playing field will level.
Essentially I see the battleground as efficiency, proof of efficiency if you will. Me and Dave down the street can both run a fed server on AWS or Google or Ali, with equal performance stats, yet whoever can serve the data best will be favoured.

Keen to hear someone tear this opinion apart.

[Mimir]

Being Australian on the internet: click edit > delete all the swear words > done

[D-Lux]

That said, been playing around with M2, well cool. New control panel is amazing. Trying to overload the system with entries and it just takes it like a champ.

I'm usually here criticising current guiwallet and praising Exodus, but these lads have worked wonders on the control panel. Impressed. Highly versatile, not just a control panel anymore.

Intrigued about how Federated Servers will play out. Cloud services has democratised server infrastructure, anyone who can follow a complicated dinner recipe could setup a Federated Server on AWS, first movers may have advantage to earn FCT but given time people will eventually find out and the playing field will level.
Essentially I see the battleground as efficiency, proof of efficiency if you will. Me and Dave down the street can both run a fed server on AWS or Google or Ali, with equal performance stats, yet whoever can serve the data best will be favoured.

Keen to hear someone tear this opinion apart.

Not a chance in hell. Great Shelley quote though, btw.