[ANN] FACTOM - Introducing Honesty to Record-Keeping

[crazyivan]

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.

What are you talking about? What control panel? What guiwallet?

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[BrianDeery]

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.

What are you talking about? What control panel? What guiwallet?

I'm glad the first person to test m2 liked what he saw.  We have indeed been working wonders.  Thank you for noticing.

[crazyivan]

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.

What are you talking about? What control panel? What guiwallet?

I'm glad the first person to test m2 liked what he saw.  We have indeed been working wonders.  Thank you for noticing.

We do have an active tester or testers? I wasnt aware of that. Great news, REALLY great news.

[Jack Russell]

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.

What are you talking about? What control panel? What guiwallet?

I'm glad the first person to test m2 liked what he saw.  We have indeed been working wonders.  Thank you for noticing.

I am also interested in testing the M2 wallet if possible.

[Mrboot]

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.

What are you talking about? What control panel? What guiwallet?

I'm glad the first person to test m2 liked what he saw.  We have indeed been working wonders.  Thank you for noticing.

We do have an active tester or testers? I wasnt aware of that. Great news, REALLY great news.

Actually you could already test m2 already for a longer time it was stated on their github, im waiting till the bigfree version arrives then i will test it.

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.

What are you talking about? What control panel? What guiwallet?

I'm glad the first person to test m2 liked what he saw.  We have indeed been working wonders.  Thank you for noticing.

I am also interested in testing the M2 wallet if possible.

Check their github links are all there.

[Mimir]

Not a chance in hell.

Was actually hoping someone would find flaws, or at least a differing opinion.
Using a service like Amazon Cloudfront makes you very likely to be a preferred fed server. With such a level playing field eventually it'll come down to who can do it best.

Am truly impressed, it's gone from mild interest a year ago to now running numbers on server costs and considering having a crack at it.

[Mimir]

Intrigued as to how it plays out.
Long assumed large players with their own infrastructure would move in and run the fed servers, but now realise they'd probably struggle to compete against what cloud services can provide, and anyone can sign up to use cloud services.

[crazyivan]

Can you post some screenshots? I dont know if this is allowed considering testing phase.

[Mrboot]

Can you post some screenshots? I dont know if this is allowed considering testing phase.

Hmm i dont see why it would matter, cause everyone can just start a server.

It's open source

[lolikop]

Fct moon time is  closing i predict 0.01 by end of nov

[crazyivan]

Can you post some screenshots? I dont know if this is allowed considering testing phase.

Hmm i dont see why it would matter, cause everyone can just start a server.

It's open source

Then show us Mimir pls. I d like like to see how it looks like. Give us a glimpse of the merry future.

[Mimir]

Some of us have jobs dude, I'll post shots when I get home.

[GrossBit]

look at this

https://blog.nem.io/apostille/

while Factom struggling with M2
competitors are making a lot of progress...

I haven't tried NEM/Apostille, and cannot comment on it. But it just shows you that there are other serious projects. This one looks serious, i saw some posts with people testing it.
NEM seems to have a lot of other modern unique technical features as well.

What is "strange" is that NEM claims that they had only 2 devs working on Apostille, and they delivered in a few months. Why is it taking so long for Factom ?
Looking at their GUI, or at some discussions, alas I think unfortunately the answer is: the technical skill level of all people working at Factom is not as high as other projects.

Also, the biggest enemy of Factom is time...
if they don't have contracts very very soon, I think they'll lose their first mover advantage.

[Mimir]

Wow. You want us to jump in on your latest margin?

Self interest reins supreme. You don't even try to hide it anymore.

[Elpadrinho]

look at this

https://blog.nem.io/apostille/

while Factom struggling with M2
competitors are making a lot of progress...

I haven't tried NEM/Apostille, and cannot comment on it. But it just shows you that there are other serious projects. This one looks serious, i saw some posts with people testing it.
NEM seems to have a lot of other modern unique technical features as well.

What is "strange" is that NEM claims that they had only 2 devs working on Apostille, and they delivered in a few months. Why is it taking so long for Factom ?
Looking at their GUI, or at some discussions, alas I think unfortunately the answer is: the technical skill level of all people working at Factom is not as high as other projects.

Also, the biggest enemy of Factom is time...
if they don't have contracts very very soon, I think they'll lose their first mover advantage.

WOW dude you're relentless.You really have nothing else to do with your life besides FUDDING on Factom.Get a fuckn life or a girlfriend for that matter because people are pretty much fed up with the garbage that comes out of your mouth.Geez i'v never heard someone as annoying as you in my life. FK off

[GrossBit]

look at this

https://blog.nem.io/apostille/

while Factom struggling with M2
competitors are making a lot of progress...

I haven't tried NEM/Apostille, and cannot comment on it. But it just shows you that there are other serious projects. This one looks serious, i saw some posts with people testing it.
NEM seems to have a lot of other modern unique technical features as well.

What is "strange" is that NEM claims that they had only 2 devs working on Apostille, and they delivered in a few months. Why is it taking so long for Factom ?
Looking at their GUI, or at some discussions, alas I think unfortunately the answer is: the technical skill level of all people working at Factom is not as high as other projects.

Also, the biggest enemy of Factom is time...
if they don't have contracts very very soon, I think they'll lose their first mover advantage.

WOW dude you're relentless.You really have nothing else to do with your life besides FUDDING on Factom.Get a fuckn life or a girlfriend for that matter because people are pretty much fed up with the garbage that comes out of your mouth.Geez i'v never heard someone as annoying as you in my life. FK off

while you guys are circle-jerking, and 90% of the posts here are just "when is M2 ?" like waiting for Godot...

I am actually providing background information, contrary to you.
Of course NEM is a very small blockchain with a unsignificant amount of users (but so is Factom at the moment), but they have been able to provide a working product in less time than Factom and with less resources. Shouldn't that all tell us something ?

the "hidden" assumption is that the FCT price would go vertical once M2 is announced. Well, the price is much lower than it has been and i see other heavily hit coins showing strong bounces like LSK, or even the very scammy STEEM !!
So thats certainly possible, although nowhere a certainty. Personally i think it will not change the current trend, but i may be wrong of that. The clear trend that I see is that the Factom offering is facing more and more competition and thats why the price is under pressure. One could say the same thing for example about ETH, which at the beginning of the year had an exclusivity about Smart Contracts, but many other big projects are emerging, thats why the ETH price is off its high and under pressure as well.

btw if you followed me here, when the price was at 0.0025 i said it would be good to play a bounce to 0.003 the previous support (the low from flash crash day was 0.00307). We just did that and that has acted as a resistance for a few days already. so i'm not only providing info, but useful levels to trade  (not the first time...). I hope some can profit of that too.

disclaimer: flat in FCT. and no, i don't intend to buy a dip (before 0.0015) nor to FOMO in it, UNLESS there is really a market changing news (and i don't consider M2 as being a market changing news).

I'd prefer to buy XEM if it reaches the support level of around 300 sats for example (now over 500 sats). No hurry to buy alts in a global bear market I believe.

[CocoLibre]

disclaimer: flat in FCT. and no, i don't intend to buy a dip (before 0.0015) nor to FOMO in it, UNLESS there is really a market changing news (and i don't consider M2 as being a market changing news).

I'd prefer to buy XEM if it reaches the support level of around 300 sats for example (now over 500 sats). No hurry to buy alts in a global bear market I believe.

Then go bid in XEM and take FCT off your radar; when your .0015 bid fills or you FOMO buy on some PR you consider "market changing" you can remind everyone about your ace play by play trades that everyone on this forum should be emulating  

[Mimir]

I haven't tried NEM/Apostille, and cannot comment on it. But it just shows you that there are other serious projects.

One sentence contradiction. Nice.

How is XEM secured? and care to explain proof or importance?
Not really sure why people use sha-3. It's simply a backup in case all goes bad.

"Whitepaper" here:
https://www.nem.io/NEM_techRef.pdf

Once upon a time whitepapers weren't marketing brochures, there's no need for your favourite quote to be put into a technical description.

To transact business with the girl who ran the gas-pump Dean merely threw
on his T-shirt like a scarf and was curt and abrupt as usual and got back in
the car and off we roared again.
- Jack Kerouac

This is in their whitepaper.

Succinct counter-argument against PoI here:
https://www.reddit.com/r/Bitcoin/comments/31tj4h/after_more_than_a_year_under_development_next/cq4ttyb/

Any algorithm that uses something within its own blockchain for proof is fatally flawed in this regard. Proof of work requires something that comes from outside the blockchain: computing power. This is dictated by the laws of physics, not the blockchain.

Peace.

[D-Lux]

the technical skill level of all people working at Factom is not as high as other projects.

Wow that's low even for you, GrossBit.

[GrossBit]

I haven't tried NEM/Apostille, and cannot comment on it. But it just shows you that there are other serious projects.

One sentence contradiction. Nice.

How secure is XEM mate? and will you explain Proof-of-Importance to me? Personally I'm making a Proof-of-Grossbit coin, keen?
Also, why do they use SHA-3? is a very strange thing to do. 2 has stood the test of time, 3 isn't used practically, no one with any serious credentials recommends using SHA-3 until 2 is broken. It's simply a backup in case all goes bad.

Let the sun shine in I say, keen to hear more about XEM.

"Whitepaper" here:
https://www.nem.io/NEM_techRef.pdf

Once upon a time whitepapers weren't marketing brochures, there's no need for your favourite quote to be put into a technical description.

To transact business with the girl who ran the gas-pump Dean merely threw
on his T-shirt like a scarf and was curt and abrupt as usual and got back in
the car and off we roared again.
- Jack Kerouac

This is in a whitepaper.

Succinct counter-argument against PoI here:
https://www.reddit.com/r/Bitcoin/comments/31tj4h/after_more_than_a_year_under_development_next/cq4ttyb/

Any algorithm that uses something within its own blockchain for proof is fatally flawed in this regard. Proof of work requires something that comes from outside the blockchain: computing power. This is dictated by the laws of physics, not the blockchain.

Peace.

if you want to quote it all, quote it entirely
"On the face, it appears to suffer from the same fatal flaws as Proof of Stake."
FCT and ETH (in Casper) both rely on PoS.

The big pro of Factom is its flexibility and to benefit from the security of BTC, ETH and other blockchain strengths (PoW for BTC)

Anyway this is not really a post about the merits of XEM. Its about saying that Factom has no exclusivity on developing blockchain apps for authentification of documents, and it took only a few months to a couple young Japanese guys to come out with that. And I'm sure there is plenty of other projects going elsewhere. Thats why it's worrying to me that Factom are so slow.

BTW you may not have heard of XEM, me little as well, but the market still sees it more seriously than Factom, its market cap is higher, and touched even 100M usd at some stage, now its in a heavy downtrend