[ANN] FACTOM - Introducing Honesty to Record-Keeping

[Freckleg]

Folks, my understanding is that M2 is currently just on the testnet and as soon as it has been tested successfully, M2 will be implemented on the main chain. That would be the actually M2 and Factom would announce it again?

Please correct me if Im wrong but did I get this right?

Yeah seems to be what is suggested, once it they are happy with testnet it will switch over.
I'm sitting here spamming it with with crap entries and making a bunch of requests for my nonsense data. Test network seems to be holding up fine, even with only 6 fed servers.
Prefer they test it well rather than rush it out. Ain't no need to pander to the crypto community, they not the customers here.

Really? So this means we re irrelevant from Factom viewpoint?

Nope factoids need to have value for the system to work from an economic standpoint. But from a well tested user perspective quality comes before speed and is more important than factoid value. Factoid value is derived from high usage. A high quality scalable solution is necessary for high usage possibilities

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[BlackPrapor]

Brian said a few weeks minimum, so I d say end of this month to be absolutely sure till M2 s been reached.

May I suggest, if you guys are so much worried about M2 test, just help the dev team to test it. Run a node or a couple nodes yourself. That should speed things up, I guess.

[nowhere man]

I think the Factom team has been pretty candid regarding their stance on the price of factom (they're not that bothered about the value), since they aren't planning to make money selling factoids (at least we hope they aren't doing that!) - This makes the whole project unique in the crypto space. Notice they don't relentlessly market factoids to you're standard ancaps because that isn't the business case - and it means we don't get the standard dev pumps everytime a new release comes out. The rise in price is more organic. On the downside, until the business case becomes achievable, the market will continue to swing like a pendulum.

[cryptonit]

BTW in some sense, BTC is already inferior to many other newer blockchains

Factom is really a BTC/ETH app and inherits from the security of those 2 blockchains.

XEM would be better IF its security was equivalent to BTC which it has no chance.

I rearranged your post a little to analyze it. Can you clarify your argument as to why NEM isn't as secure as BTC and which alts you consider superior to BTC?

XEM or really any other blockchain today isn't as secure as BTC because the tiny size of their network make it vulnerable to things similar to 51% attack...
detractors of BTC would point out that a lot of BTC nodes are in China, which is not a good thing either.

on the specs side, XEM and many other blockchains are superior to BTC.... XMR has stronger anonymity, ETH has smart contracts, etc...

u should be very careful to make such a statment

how many fullnodes bitcoin network have
how man different nodes produce 80% of the blocks

how many fullnodes NEM network have
how man different nodes produce 80% of the blocks

u would be surprised how deepend bitcoin blockproduction is towards 5 top mining pools
and most of them in china

bitcoin decentral?
mining all around the globe secure it?

what a illusion
bitcoin is full in chinese hands

a deeper analysis will show ya that the nem way secure the chain is superior

and if bitcoin chain is the only advantage u think factom have above NEM apostille

then u should question urself whats the true holy grail here.....

or a bit less black white

if they not at least similar interesting solutions

FCT for sure have a advantage by already established contracts
but from technological view NEM apostille is a solution that is equal powerful
and simpler in complexity

and

simple is beautiful
https://blog.nem.io/apostille/

[matt608]

I plan on holding my FCT for around 3 years by which time I expect Factom to have made some big deals and have high entry credit usage.  If I've learned anything from the past few years its to keep holding longer than feels natural.  If you can 'out-hold' the rest of the market on a good investment, you win.  This is one of the major reasons its easier to make more money if you already have plenty because you are less emotionally involved, so you can just leave it where it is and keep holding for much longer without feeling anything.  This is from someone who is up about x20 from their original investment into crypto a number of years ago.  I would have been up more like x100 if I'd kept holding, won't make that mistake again.

[crazyivan]

I plan on holding my FCT for around 3 years by which time I expect Factom to have made some big deals and have high entry credit usage.  If I've learned anything from the past few years its to keep holding longer than feels natural.  If you can 'out-hold' the rest of the market on a good investment, you win.  This is one of the major reasons its easier to make more money if you already have plenty because you are less emotionally involved, so you can just leave it where it is and keep holding for much longer without feeling anything.  This is from someone who is up about x20 from their original investment into crypto a number of years ago.  I would have been up more like x100 if I'd kept holding, won't make that mistake again.

Hmmm, I have a completely different experience. I kept holding in many cases when candles were red, expecting rebounds. In most cases, they never came. I m also at least 15x up compared to my initial investments. However, it took me time to understand when to get out as well as when to get in. I hope I ve learned to follow red candles as well.

[poptop]

I plan on holding my FCT for around 3 years by which time I expect Factom to have made some big deals and have high entry credit usage.  If I've learned anything from the past few years its to keep holding longer than feels natural.  If you can 'out-hold' the rest of the market on a good investment, you win.  This is one of the major reasons its easier to make more money if you already have plenty because you are less emotionally involved, so you can just leave it where it is and keep holding for much longer without feeling anything.  This is from someone who is up about x20 from their original investment into crypto a number of years ago.  I would have been up more like x100 if I'd kept holding, won't make that mistake again.

But when m3 will be released there's emission will increase.

[caffeine93]

BTW in some sense, BTC is already inferior to many other newer blockchains

Factom is really a BTC/ETH app and inherits from the security of those 2 blockchains.

XEM would be better IF its security was equivalent to BTC which it has no chance.

I rearranged your post a little to analyze it. Can you clarify your argument as to why NEM isn't as secure as BTC and which alts you consider superior to BTC?

XEM or really any other blockchain today isn't as secure as BTC because the tiny size of their network make it vulnerable to things similar to 51% attack...
detractors of BTC would point out that a lot of BTC nodes are in China, which is not a good thing either.

on the specs side, XEM and many other blockchains are superior to BTC.... XMR has stronger anonymity, ETH has smart contracts, etc...

u should be very careful to make such a statment

XEM spamming fully engaged because XEM is dumping, rofl

[lolikop]

I plan on holding my FCT for around 3 years by which time I expect Factom to have made some big deals and have high entry credit usage.  If I've learned anything from the past few years its to keep holding longer than feels natural.  If you can 'out-hold' the rest of the market on a good investment, you win.  This is one of the major reasons its easier to make more money if you already have plenty because you are less emotionally involved, so you can just leave it where it is and keep holding for much longer without feeling anything.  This is from someone who is up about x20 from their original investment into crypto a number of years ago.  I would have been up more like x100 if I'd kept holding, won't make that mistake again.

yep let the big boys (for now) gamble on margin, the 5k-10k fct boys will be bigg when the bigger ones decide to leave

[Mimir]

Really? So this means we re irrelevant from Factom viewpoint?

Bought in bnktothefuture and own fct, still don't think there's any need to rush, do it right the first time. Can't see any problems with testnet so far, but too many crypto companies rushing things out the door. DAO anyone? There's no need for these guys to hurry, they aren't DASH/XMR/ZCASH all fighting it out in the same space.
Plenty of people think there's competitors, but have looked at them all and they ain't even playing the same game, yet to see one viable alternative who offers anything close to what Factom does. Take my dollars well seriously hey and this my observations.

Really don't mind, personally. Let them do what they do, seems to be working out fine for them.

[crazyivan]

Really? So this means we re irrelevant from Factom viewpoint?

Bought in bnktothefuture and own fct, still don't think there's any need to rush, do it right the first time. Can't see any problems with testnet so far, but too many crypto companies rushing things out the door. DAO anyone? There's no need for these guys to hurry, they aren't DASH/XMR/ZCASH all fighting it out in the same space.
Plenty of people think there's competitors, but have looked at them all and they ain't even playing the same game, yet to see one viable alternative who offers anything close to what Factom does. Take my dollars well seriously hey and this my observations.

Really don't mind, personally. Let them do what they do, seems to be working out fine for them.

Sure I want a good, finished product. Sure, I want it to be bug free. Sure, I understand we re not Factom target group.

But I do mind if somebody where I invested my money does not care about me, according to you. It s the heart of capitalism, investors and customers should never be put aside. Cause both groups can damage the company.

[FudCutter]

FCT is looking holding strong now and it really looks like it's about to breakout.

[crazyivan]

FCT is looking holding strong now and it really looks like it's about to breakout.

Nah, just another wave of ping pong. Next breakout will be in a couple of weeks, just before M2. In the meantime, speculators ll take advantage of noobs and pump and dump the price.

[BigSirko]

I plan on holding my FCT for around 3 years by which time I expect Factom to have made some big deals and have high entry credit usage.  If I've learned anything from the past few years its to keep holding longer than feels natural.  If you can 'out-hold' the rest of the market on a good investment, you win.  This is one of the major reasons its easier to make more money if you already have plenty because you are less emotionally involved, so you can just leave it where it is and keep holding for much longer without feeling anything.  This is from someone who is up about x20 from their original investment into crypto a number of years ago.  I would have been up more like x100 if I'd kept holding, won't make that mistake again.

In 3 years there will be no Factom.  It's already obsolete from Apostille.

[matt608]

I plan on holding my FCT for around 3 years by which time I expect Factom to have made some big deals and have high entry credit usage.  If I've learned anything from the past few years its to keep holding longer than feels natural.  If you can 'out-hold' the rest of the market on a good investment, you win.  This is one of the major reasons its easier to make more money if you already have plenty because you are less emotionally involved, so you can just leave it where it is and keep holding for much longer without feeling anything.  This is from someone who is up about x20 from their original investment into crypto a number of years ago.  I would have been up more like x100 if I'd kept holding, won't make that mistake again.

In 3 years there will be no Factom.  It's already obsolete from Apostille.

I haven't looked into this Apostle thing, but even if it were a better product, Factom has a much bigger and better team and is a lot further along in the business side of things in terms of funding (a big deal) and potential partnerships.  

[Lisieux]

I plan on holding my FCT for around 3 years by which time I expect Factom to have made some big deals and have high entry credit usage.  If I've learned anything from the past few years its to keep holding longer than feels natural.  If you can 'out-hold' the rest of the market on a good investment, you win.  This is one of the major reasons its easier to make more money if you already have plenty because you are less emotionally involved, so you can just leave it where it is and keep holding for much longer without feeling anything.  This is from someone who is up about x20 from their original investment into crypto a number of years ago.  I would have been up more like x100 if I'd kept holding, won't make that mistake again.

In 3 years there will be no Factom.  It's already obsolete from Apostille.

Tell this to Tim Draper and his millions on Factom. Please STOP talking nem, xem or whatever, go the right topic.

[Capoboss]

Hope for m2 to come out before dec

[D-Lux]

Can a mod delete any more XEM posts, this thread is about discussing Factom. Take the XEM discussion here https://bitcointalk.org/index.php?topic=654845.28540 and stop hijacking the thread, thanks.

+1, this thread is about FCT.

XEM volume and value are going down like hell, soon it will be of zero relevance joining coins like 1CR, rofl...so these XEM trolls are now going into overdrive. The fact that you have to spam the thread of the competing (and miles ahead) technology with spam about a shitcoin is just saying a lot about the same shitcoin.

+2. The NEM/XEM posts began with GrossBit and were followed up by his minions, as has been the case with 3-4 other "controversies" and FUD campaigns over the past two months. Check the histories.

I realize some people on here are nonconfrontational, and some may actually be confused by the sophistication of these guys. If I hadn't spent my professional life studying language and rhetoric, I may have been confused as well.

The latest posts from Troll #1 and a minion (or puppet), just FYI:

https://www.reddit.com/r/factom/comments/5bumdv/fct_price_trading_weekly_discussion_week_of/

Reminds me of a quote from Tennyson: “A lie that is half-truth is the darkest of all lies.”

I'll also repeat what I wrote weeks ago, that one of the main problems with this kind of trolling is that it becomes difficult to tell real criticism from FUD. Factom does indeed have its problems and uncertainties, and all this "crying wolf" threatens to obfuscate the real issues when they arise.

Anyway, looking forward to M2 when the trolls have a change of heart—or disappear, and another round of noob hypers jump on board, with remarkably similar writing styles to the previous trolls ...

[Pap0u]

Can a mod delete any more XEM posts, this thread is about discussing Factom. Take the XEM discussion here https://bitcointalk.org/index.php?topic=654845.28540 and stop hijacking the thread, thanks.

+1, this thread is about FCT.

XEM volume and value are going down like hell, soon it will be of zero relevance joining coins like 1CR, rofl...so these XEM trolls are now going into overdrive. The fact that you have to spam the thread of the competing (and miles ahead) technology with spam about a shitcoin is just saying a lot about the same shitcoin.

+2. The NEM/XEM posts began with GrossBit and were followed up by his minions, as has been the case with 3-4 other "controversies" and FUD campaigns over the past two months. Check the histories.

I realize some people on here are nonconfrontational, and some may actually be confused by the sophistication of these guys. If I hadn't spent my professional life studying language and rhetoric, I may have been confused as well.

The latest posts from Troll #1 and a minion (or puppet), just FYI:

https://www.reddit.com/r/factom/comments/5bumdv/fct_price_trading_weekly_discussion_week_of/

Reminds me of a quote from Tennyson: “A lie that is half-truth is the darkest of all lies.”

I'll also repeat what I wrote weeks ago, that one of the main problems with this kind of trolling is that it becomes difficult to tell real criticism from FUD. Factom does indeed have its problems and uncertainties, and all this "crying wolf" threatens to obfuscate the real issues when they arise.

Anyway, looking forward to M2 when the trolls have a change of heart—or disappear, and another round of noob hypers jump on board, with remarkably similar writing styles to the previous trolls ...

Great post. Couldnt agree with all you wrote more.

[GrossBit]

Can a mod delete any more XEM posts, this thread is about discussing Factom. Take the XEM discussion here https://bitcointalk.org/index.php?topic=654845.28540 and stop hijacking the thread, thanks.

+1, this thread is about FCT.

XEM volume and value are going down like hell, soon it will be of zero relevance joining coins like 1CR, rofl...so these XEM trolls are now going into overdrive. The fact that you have to spam the thread of the competing (and miles ahead) technology with spam about a shitcoin is just saying a lot about the same shitcoin.

+2. The NEM/XEM posts began with GrossBit and were followed up by his minions, as has been the case with 3-4 other "controversies" and FUD campaigns over the past two months. Check the histories.

I realize some people on here are nonconfrontational, and some may actually be confused by the sophistication of these guys. If I hadn't spent my professional life studying language and rhetoric, I may have been confused as well.

The latest posts from Troll #1 and a minion (or puppet), just FYI:

https://www.reddit.com/r/factom/comments/5bumdv/fct_price_trading_weekly_discussion_week_of/

Reminds me of a quote from Tennyson: “A lie that is half-truth is the darkest of all lies.”

I'll also repeat what I wrote weeks ago, that one of the main problems with this kind of trolling is that it becomes difficult to tell real criticism from FUD. Factom does indeed have its problems and uncertainties, and all this "crying wolf" threatens to obfuscate the real issues when they arise.

Anyway, looking forward to M2 when the trolls have a change of heart—or disappear, and another round of noob hypers jump on board, with remarkably similar writing styles to the previous trolls ...

Great post. Couldnt agree with all you wrote more.

if you quote me, quote me fully

1- i've turned ST bullish on FCT a few posts ago (up to 0.0041-0.0425 area) and favour a BTD approach from now on.
2- Ostrich policy won't help you make good investing decisions. XEM volume is much lower than FCT. There are quite some negatives on this coin
but this Apostille announcement is a new positive surprising element in a coin which had been in a constant declining trend for a while.

At this stage, XEM market cap is more than twice FCT (but volumes much lower). You'd be an idiot to ignore whats going on in this coin