[ANN] FACTOM - Introducing Honesty to Record-Keeping

[Pap0u]

Its clear with the XMR exit pump in August and recent trading on margin alts that Poloniex is a rigged market operating an internal MM system engineered specifically to margin call over-leveraged traders. This is on $BTC exchanges as well which is nothing new but still disconcerting considering crypto markets are generally operated purely by retail traders and very few if any institutional funds. For the market to mature this will have to transition to an orderly market which will likely occur through regulation much like what the equity markets went through in the 1930s; hard to tell when the government will actual proceed with action though since the space is so new and generally the SEC does not move quickly.

I always said it...Poloniex is as crooked as it comes!

I will likely be contacting the SEC and considering a class action lawsuit against them at some point. This is kind of behavior went down in the 1920s and is the main reason why the SEC was created. This not a free market, its a completely rigged system that has internal MMs oriented specifically to run stops and margin call traders persistently. I've been trading in the equity markets for over a decade including the OTC pinksheets and have never seen anything this blatantly fraudulent in my life.

Couldnt agree more. That is why you need to do the opposite trades of what logic dictates.

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[mig5000]

Please stop it with the constant bitching on price. Every alts are tanking at the moment. This news could have doubled the FCT price 2 months ago, now it gets dumped on. It's a cycle. As long as people believe BTC is super mooning all alts are going to be dead.

Be happy really.

ETC,ETH,BTC new lows, ... ,
Dash Maid close to new lows,...,
Ripple, XMR, FCT higher lows...

That's in moment like these that you can detect the next winner. I believe any of these 3 coins could do a x3,x5+ went BTC tops, just like LTC did 2 years ago. Any of these 3 coins are susceptible to be a LTC 2.0 imo

[Elpadrinho]

Please stop it with the constant bitching on price. Every alts are tanking at the moment. This news could have doubled the FCT price 2 months ago, now it gets dumped on. It's a cycle. As long as people believe BTC is super mooning all alts are going to be dead.

Be happy really.

ETC,ETH,BTC new lows, ... ,
Dash Maid close to new lows,...,
Ripple, XMR, FCT higher lows...

That's in moment like these that you can detect the next winner. I believe any of these 3 coins could do a x3,x5+ went BTC tops, just like LTC did 2 years ago. Any of these 3 coins are susceptible to be a LTC 2.0 imo

Ya you said it's your opinion.If there was no margin trading,Fct would definately be higher but unfortunately the market is rigged especially crooked Polo with there margin trading scams.No growth in this market is organic.It's all about manipulation and people that have a shit load of money that like to fuck with peoples minds. Ju know what a " Polo " is Frank !?! Dat's a PIG, that don't " FLY STRAIGHT " Every dog has it's day!

[D-Lux]

Someone asked a good question on Reddit, "Will this be launched on the current public blockchain with FCT tokens?"

The comment was in response to the quote from Kirby, "Gates approached us to see if our identity system could solve a medical records problem globally. We're working together to prototype this system."

https://www.reddit.com/r/factom/comments/5dmnte/factom_awarded_grant_from_bill_and_melinda_gates/da5tcce/

Anyone know the answer?

FYI Brian Deery responded to the question above:

"The intent is to use the open access public Factom blockchain. It wouldn't be a very good public utility if it were a private blockchain. To support this kind of scale we might have to accelerate the network sharding or even start down the path of blockchain segmentation.

"Sharding is a lot easer in Factom than with, say Ethereum because we don't have such a complex global state to manage."

[GrossBit]

Where's Grossbit and his minions?

if you look at my last posts, i've been bullish for a while on FCT. click on my history

you see ? there are some people perma bulls, some perma-bears, and traders in between who make money..

[GrossBit]

Its clear with the XMR exit pump in August and recent trading on margin alts that Poloniex is a rigged market operating an internal MM system engineered specifically to margin call over-leveraged traders. This is on $BTC exchanges as well which is nothing new but still disconcerting considering crypto markets are generally operated purely by retail traders and very few if any institutional funds. For the market to mature this will have to transition to an orderly market which will likely occur through regulation much like what the equity markets went through in the 1930s; hard to tell when the government will actual proceed with action though since the space is so new and generally the SEC does not move quickly.

I always said it...Poloniex is as crooked as it comes!

yes Polo is acting like a bucket shop with those stop-orders

[Pap0u]

Factom is an amazing company; probably one of the most prominent blockchain projects. It is constantly getting recognition from prominent authorities and only a positive outlook shines on us. The day to day prices are for the traders, not for the investors. Consider anything around 300k a blessing, just buy and hold and you will be rewarded.

[Elpadrinho]

Where's Grossbit and his minions?

if you look at my last posts, i've been bullish for a while on FCT. click on my history

you see ? there are some people perma bulls, some perma-bears, and traders in between who make money..

Ya and you make money creating fear. Good job Grossbit. Really happy for you especially when you bash a project that has real value but because you got ass raped on the A shares,you have to spread FUD and prey on the weak.Take your losses like a man and move on like everybody.

[astmandu]

Its clear with the XMR exit pump in August and recent trading on margin alts that Poloniex is a rigged market operating an internal MM system engineered specifically to margin call over-leveraged traders. This is on $BTC exchanges as well which is nothing new but still disconcerting considering crypto markets are generally operated purely by retail traders and very few if any institutional funds. For the market to mature this will have to transition to an orderly market which will likely occur through regulation much like what the equity markets went through in the 1930s; hard to tell when the government will actual proceed with action though since the space is so new and generally the SEC does not move quickly.

I always said it...Poloniex is as crooked as it comes!

I will likely be contacting the SEC and considering a class action lawsuit against them at some point. This is kind of behavior went down in the 1920s and is the main reason why the SEC was created. This not a free market, its a completely rigged system that has internal MMs oriented specifically to run stops and margin call traders persistently. I've been trading in the equity markets for over a decade including the OTC pinksheets and have never seen anything this blatantly fraudulent in my life.

Really, man?  Why invite the SEC into what is meant to be a decentralized ecosystem?  If you don't like crypto in its infancy, then go back to the regulated equities markets.  I got margin called and it was my own stupidity.  Polo warned me of the margin call for weeks and I sat there hoping it would turn around, but then I got liquidated.  Thankfully with crypto you can come back quickly, and I did.  Polo had nothing to do with that, I placed that trade.

There is a lot of risk here.  Period.  Once the SEC gets involved you can kiss your hopes of 100x returns goodbye.  Can't have it both ways.

[CocoLibre]

Its clear with the XMR exit pump in August and recent trading on margin alts that Poloniex is a rigged market operating an internal MM system engineered specifically to margin call over-leveraged traders. This is on $BTC exchanges as well which is nothing new but still disconcerting considering crypto markets are generally operated purely by retail traders and very few if any institutional funds. For the market to mature this will have to transition to an orderly market which will likely occur through regulation much like what the equity markets went through in the 1930s; hard to tell when the government will actual proceed with action though since the space is so new and generally the SEC does not move quickly.

I always said it...Poloniex is as crooked as it comes!

I will likely be contacting the SEC and considering a class action lawsuit against them at some point. This is kind of behavior went down in the 1920s and is the main reason why the SEC was created. This not a free market, its a completely rigged system that has internal MMs oriented specifically to run stops and margin call traders persistently. I've been trading in the equity markets for over a decade including the OTC pinksheets and have never seen anything this blatantly fraudulent in my life.

Really, man?  Why invite the SEC into what is meant to be a decentralized ecosystem?  If you don't like crypto in its infancy, then go back to the regulated equities markets.  I got margin called and it was my own stupidity.  Polo warned me of the margin call for weeks and I sat there hoping it would turn around, but then I got liquidated.  Thankfully with crypto you can come back quickly, and I did.  Polo had nothing to do with that, I placed that trade.

There is a lot of risk here.  Period.  Once the SEC gets involved you can kiss your hopes of 100x returns goodbye.  Can't have it both ways.

Better to have a regulatory entity come in and set standards instead of letting things get out of hand and have negligence lead resulting in disastrous scenarios such as The MtGox blowup, The DAO hack, Bitfinex hack and Polo's shifty MM system.
Far better to get this stuff sorted out earlier than after the fact, the hammer comes down far harder from governments once things have gone into disarray.

[CocoLibre]

I'm going to stop derailing this thread and get back to Factom relevant discussion. Anyone notice the new usage addition on the EC chart, Sphereon? Very few test entries so far, haven't been able to find anything online about them, any guesses?

Correction: I had mistyped the company into Google, looks like its this company https://sphereon.com/

"The Sphereon document processing platform is Smart … and Fast!
No other document processing platform is as smart as Sphereon. For most functions it combines multiple and best-in-class algorithms to deliver the best possible results.
And which other capture, email or document software already uses Blockchain technology?
And FAST! Thanks to our modern Microservices architecture, which is easily connectable through APIs.
The Sphereon software platform can be used in your solutions using the traditional 4-step process approach or using the modern API-driven approach."

[kerrang]

if SEC involved in, Polo markets go even boring than the current situation which is already boring enough, lol.

[crazyivan]

Polo s not the main problem why the price s not going up. BTC potential price growth and related expectations re a part of the explanation.

However, the main reason is the market still not believing Factom s got something special. Why is this the case, I do not know. Cause if the there would be an investor or a group of investors bringing 2k BTC into the market and buying Factom, the price would skyrocket,

Instead, it s only a few of us around buying and selling, a few hundred holding and waiting and out favourite bot operators doing the rest.

Cause if Bill Gates can't push the price up, then I really do not know what will. Expecting Factom usage will increase the price via burning Factoids is not something I m prepared to rely on. Cause Factom needs to keep Factoids in the game, they will add supply after M3.

So, wtf s going on? Why there re not 2k BTC investors going into Factom?

[flashbit]

I'm going to stop derailing this thread and get back to Factom relevant discussion. Anyone notice the new usage addition on the EC chart, Sphereon? Very few test entries so far, haven't been able to find anything online about them, any guesses?

Correction: I had mistyped the company into Google, looks like its this company https://sphereon.com/

"The Sphereon document processing platform is Smart … and Fast!
No other document processing platform is as smart as Sphereon. For most functions it combines multiple and best-in-class algorithms to deliver the best possible results.
And which other capture, email or document software already uses Blockchain technology?
And FAST! Thanks to our modern Microservices architecture, which is easily connectable through APIs.
The Sphereon software platform can be used in your solutions using the traditional 4-step process approach or using the modern API-driven approach."

Just to add...

https://sphereon.com/products/

Sphereon Blockchain API

A good example of sharing APIs is our ProofOfExistence API build using Blockchain technology to register and verify objects, photos and documents using a Blockchain.

Sphereon leverages the open source Factom API but has adapted it to our own API to hide the complexities of Factom and its protocol.

Using our Blockchain API it is possible to publish information on a shared ledger that is fully immutable, since it is backed by the Bitcoin network.

The API also offers support to encrypt the data on the fly when required.

[Pap0u]

Polo s not the main problem why the price s not going up. BTC potential price growth and related expectations re a part of the explanation.

However, the main reason is the market still not believing Factom s got something special. Why is this the case, I do not know. Cause if the there would be an investor or a group of investors bringing 2k BTC into the market and buying Factom, the price would skyrocket,

Instead, it s only a few of us around buying and selling, a few hundred holding and waiting and out favourite bot operators doing the rest.

Cause if Bill Gates can't push the price up, then I really do not know what will. Expecting Factom usage will increase the price via burning Factoids is not something I m prepared to rely on. Cause Factom needs to keep Factoids in the game, they will add supply after M3.

So, wtf s going on? Why there re not 2k BTC investors going into Factom?

I agree. The problem is though day to day it will always be volatile; its the way Polo and the traders make money. However why we are around 300k is beyond me, I suspect 400k+ floor is around the corner after a BTC stabalization and two days of good news to settle. We are seeing good accumilation in this area right now, some big buys from 300-320k so that means new money coming in and will be holding. Nobody can say nothing but good things about the Factom team. They are still building their product so lets wait, we are almost there.

[jay8291]

I dont why would Polo do things like that. As its already making Money from trading fees. Why would its risk their reputation by doing such things

[golfhuso]

Ok can someone tell me that what is the real benefit of buying and holding Factoids?
I mean I knew that Factom company is good and all but will FCT holder get benefit of Factom growth?

[crazyivan]

Ok can someone tell me that what is the real benefit of buying and holding Factoids?
I mean I knew that Factom company is good and all but will FCT holder get benefit of Factom growth?

If you cant tell, I think you re definitely in the wrong place.

You benefit when the price goes up so you can sell and make some money. What kind of question is that? It s not as if Brian and Paul re gonna make and deliver cookies back to you.

[stereotype]

Polo s not the main problem why the price s not going up. BTC potential price growth and related expectations re a part of the explanation.

However, the main reason is the market still not believing Factom s got something special. Why is this the case, I do not know. Cause if the there would be an investor or a group of investors bringing 2k BTC into the market and buying Factom, the price would skyrocket,

Instead, it s only a few of us around buying and selling, a few hundred holding and waiting and out favourite bot operators doing the rest.

Cause if Bill Gates can't push the price up, then I really do not know what will. Expecting Factom usage will increase the price via burning Factoids is not something I m prepared to rely on. Cause Factom needs to keep Factoids in the game, they will add supply after M3.

So, wtf s going on? Why there re not 2k BTC investors going into Factom?

Ive been seeing this kind of pathetic move across a few coins that would normally be the perfect excuse to pump the price. Last 3 weeks, its like, meh!
The total volume on Polo is the clue. Hasnt been that low for a year or so. The market movers have left the building me thinks. The markets you see now, is probably the true reflection of participants, currently, i.e. not enough to see meaningful moves.  

[golfhuso]

Ok can someone tell me that what is the real benefit of buying and holding Factoids?
I mean I knew that Factom company is good and all but will FCT holder get benefit of Factom growth?

If you cant tell, I think you re definitely in the wrong place.

You benefit when the price goes up so you can sell and make some money. What kind of question is that? It s not as if Brian and Paul re gonna make and deliver cookies back to you.

So you gonna say that Factoids is just for speculation  and there is no use case beside registering for entry?