[ANN] FACTOM - Introducing Honesty to Record-Keeping

[crazyivan]

Nah, this is just the usual pump and dump. Now we go down to under 30 again. Our favorite speculator s having fun again. I dont mind, just ride the wave. Keep these swings coming my friend.

[D-Lux]

factom price will mainly be determined by its usage ........ this needs time and the only thing driving the current price is speculation. so I'm quite happy with the current situation and try to load up more whenever I can. when the time has come, it will rise. im talking post m3 in my opinion.

I'm not sure I agree on either point. For the price being determined by usage, I think this is somewhat true, but only a sliver of the full picture. I'm not sure why this has become such a meme for FCT. No other crypto, BTC included, is measured to such an extent by its actual usage. Per market cap, FCT may very well have the highest usage-to-market-cap ratio in crypto already. Look at the 13 coins with a larger market cap here:

http://coinmarketcap.com/

Which ones have higher actual (non-trading) usage than FCT at the moment? This alone is pretty amazing IMO. And this is setting aside the very real reasons for a speculative premium (Gates, Draper, DHS, SMARTRAC, etc).

I also disagree that M3 will be the trigger. Paul Snow called M2 "the capstone of this year and many others." Relative to M2, M3 is a more minor milestone (though obv extremely important in its own right).

[crazyivan]

factom price will mainly be determined by its usage ........ this needs time and the only thing driving the current price is speculation. so I'm quite happy with the current situation and try to load up more whenever I can. when the time has come, it will rise. im talking post m3 in my opinion.

I'm not sure I agree on either point. For the price being determined by usage, I think this is somewhat true, but only a sliver of the full picture. I'm not sure why this has become such a meme for FCT. No other crypto, BTC included, is measured to such an extent by its actual usage. Per market cap, FCT may very well have the highest usage-to-market-cap ratio in crypto already. Look at the 13 coins with a larger market cap here:

http://coinmarketcap.com/

Which ones have higher actual (non-trading) usage than FCT at the moment? This alone is pretty amazing IMO. And this is setting aside the very real reasons for a speculative premium (Gates, Draper, DHS, SMARTRAC, etc).

I also disagree that M3 will be the trigger. Paul Snow called M2 "the capstone of this year and many others." Relative to M2, M3 is a more minor milestone (though obv extremely important in its own right).

I agree with this. After M2 gets out, we ll see how strong Factom is cause at that point it will be out in the market. The product will be finalized.

[D-Lux]

Considering the evolution of the ECredits, apart from pure speculation, no reason for the price to pump yet.

People are freaking out like if come M3 the inflation rate of Factoids was completely insane, it's around 10% per year if no EC are burnt at all (which basically means there's no project). So I would say a 5-6% is a pessimistic projection. With those numbers in mind and if they don't change, Factom would double its supply in around 10 years. 16-20 millions coins by 2025 is that crazy in terms of fear of inflation?

Maybe I'm missing something.

are u kidding me? Data don't stop. it will keep piling up day after day...
I still remember when i first knew factom... they announced that they broke 3million data entry...
and few months later which is today, it is already 5million++ data entries.
Everytime Factom do a good job, the news will spread, and so... more usage.

Of course people can speculate and freak themselves out,  but you will be surprise how far Factom will grow 1 year from now.

Exactly that's what I meant, in a very pessimistic scenario inflation would be 6% per year, that's nothing and would take 10 years for Factom to double its supply. You see Dash and Monero having a 3 or 4 times Factom marketcap with more supply and that's just plain ridiculous.

I would understand some caution if Factom would have a crazy inflation rate similar to Steem, but this is not the case at all and we are talking about the worst case scenario. The best case scenario is deflationary!

I'm not sure how much sense it makes to talk about inflation with FCT. My understanding is that one of the reasons for the split FCT / EC token system is to create a stable supply of available FCT. If usage goes up, price will have to go up in order to FCT supply not to be depleted. And vice versa. I'm not sure the supply would ever really "inflate," but rather, if usage dropped off, the price of FCT would simply go down, so that fewer FCT would be required to generate the same number of EC. The system is naturally balancing.

More about this here: https://www.reddit.com/r/factom/comments/4zxi6e/fct_ec_and_the_factom_financial_ecosystem/

One thing: this is ignoring price speculation. But again, given how this system is designed (market forces naturally moving FCT supply toward equilibrium), speculation is ultimately irrelevant to supply.

[D-Lux]

factom price will mainly be determined by its usage ........ this needs time and the only thing driving the current price is speculation. so I'm quite happy with the current situation and try to load up more whenever I can. when the time has come, it will rise. im talking post m3 in my opinion.

I'm not sure I agree on either point. For the price being determined by usage, I think this is somewhat true, but only a sliver of the full picture. I'm not sure why this has become such a meme for FCT. No other crypto, BTC included, is measured to such an extent by its actual usage. Per market cap, FCT may very well have the highest usage-to-market-cap ratio in crypto already. Look at the 13 coins with a larger market cap here:

http://coinmarketcap.com/

Which ones have higher actual (non-trading) usage than FCT at the moment? This alone is pretty amazing IMO. And this is setting aside the very real reasons for a speculative premium (Gates, Draper, DHS, SMARTRAC, etc).

I also disagree that M3 will be the trigger. Paul Snow called M2 "the capstone of this year and many others." Relative to M2, M3 is a more minor milestone (though obv extremely important in its own right).

I agree with this. After M2 gets out, we ll see how strong Factom is cause at that point it will be out in the market. The product will be finalized.

Yes, the product will be more or less finalized (minus election protocol), the Exodus wallet integration will be out (or shortly thereafter), Factom will receive 1/3 of their initial funding per completion of M2, clients and partnerships will likely ramp up, and the world will finally be at peace. Exciting times ...

[belowizard]

factom price will mainly be determined by its usage ........ this needs time and the only thing driving the current price is speculation. so I'm quite happy with the current situation and try to load up more whenever I can. when the time has come, it will rise. im talking post m3 in my opinion.

I'm not sure I agree on either point. For the price being determined by usage, I think this is somewhat true, but only a sliver of the full picture. I'm not sure why this has become such a meme for FCT. No other crypto, BTC included, is measured to such an extent by its actual usage. Per market cap, FCT may very well have the highest usage-to-market-cap ratio in crypto already. Look at the 13 coins with a larger market cap here:

http://coinmarketcap.com/

Which ones have higher actual (non-trading) usage than FCT at the moment? This alone is pretty amazing IMO. And this is setting aside the very real reasons for a speculative premium (Gates, Draper, DHS, SMARTRAC, etc).

I also disagree that M3 will be the trigger. Paul Snow called M2 "the capstone of this year and many others." Relative to M2, M3 is a more minor milestone (though obv extremely important in its own right).

thanks for some new insights!

[D-Lux]

factom price will mainly be determined by its usage ........ this needs time and the only thing driving the current price is speculation. so I'm quite happy with the current situation and try to load up more whenever I can. when the time has come, it will rise. im talking post m3 in my opinion.

I'm not sure I agree on either point. For the price being determined by usage, I think this is somewhat true, but only a sliver of the full picture. I'm not sure why this has become such a meme for FCT. No other crypto, BTC included, is measured to such an extent by its actual usage. Per market cap, FCT may very well have the highest usage-to-market-cap ratio in crypto already. Look at the 13 coins with a larger market cap here:

http://coinmarketcap.com/

Which ones have higher actual (non-trading) usage than FCT at the moment? This alone is pretty amazing IMO. And this is setting aside the very real reasons for a speculative premium (Gates, Draper, DHS, SMARTRAC, etc).

I also disagree that M3 will be the trigger. Paul Snow called M2 "the capstone of this year and many others." Relative to M2, M3 is a more minor milestone (though obv extremely important in its own right).

thanks for some new insights!

No problem!

[zoose]

I'm actually amazed the price hasn't moved more with all the recent news...
Factom just seems like it has so much long-term potential.

I'm going to (finally) get off my ass and move my coins off the exchange since I don't plan on selling any time soon.

I agree and recently took a position in Factom. It seems like one of the few cryptos with real world use cases and genuine high potential.

Me too, hold on to your seats

[Yazz]

Three Things:

First thing.

Brian Deery, if you're here, well done for pushing through that Crypto Show interview. Those guys are the most unprofessional fools that talked complete dribble for 3/4 of the show.  You hardly had a chance to cover any topics of real interest with the constant interruptions. I refuse to listen to their show again.

Second thing.

Does anyone know when the dLoc presentation is at the Cannes Trustech event? I can't find Factom or Smartrac on the programme.

https://j2c-com.com/trustechconfex16/presentation2016/pdf/programmeDetailgb.pdf

Third thing.
M2 please

[CocoLibre]

Does anyone know when the dLoc presentation is at the Cannes Trustech event? I can't find Factom or Smartrac on the programme.

https://www.smartrac-group.com/pr/smartrac-to-take-security-and-convenience-to-the-max-at-trustech.html

https://www.smartrac-group.com/event-reader/trustech.html

[zoose]

factom price will mainly be determined by its usage ........ this needs time and the only thing driving the current price is speculation. so I'm quite happy with the current situation and try to load up more whenever I can. when the time has come, it will rise. im talking post m3 in my opinion.

I'm not sure I agree on either point. For the price being determined by usage, I think this is somewhat true, but only a sliver of the full picture. I'm not sure why this has become such a meme for FCT. No other crypto, BTC included, is measured to such an extent by its actual usage. Per market cap, FCT may very well have the highest usage-to-market-cap ratio in crypto already. Look at the 13 coins with a larger market cap here:

http://coinmarketcap.com/

Which ones have higher actual (non-trading) usage than FCT at the moment? This alone is pretty amazing IMO. And this is setting aside the very real reasons for a speculative premium (Gates, Draper, DHS, SMARTRAC, etc).

I also disagree that M3 will be the trigger. Paul Snow called M2 "the capstone of this year and many others." Relative to M2, M3 is a more minor milestone (though obv extremely important in its own right).

I agree with this. After M2 gets out, we ll see how strong Factom is cause at that point it will be out in the market. The product will be finalized.

That's good news. Do you know if there was any information about there funding from Homeland Security?

Yes, the product will be more or less finalized (minus election protocol), the Exodus wallet integration will be out (or shortly thereafter), Factom will receive 1/3 of their initial funding per completion of M2, clients and partnerships will likely ramp up, and the world will finally be at peace. Exciting times ...

[D-Lux]

factom price will mainly be determined by its usage ........ this needs time and the only thing driving the current price is speculation. so I'm quite happy with the current situation and try to load up more whenever I can. when the time has come, it will rise. im talking post m3 in my opinion.

I'm not sure I agree on either point. For the price being determined by usage, I think this is somewhat true, but only a sliver of the full picture. I'm not sure why this has become such a meme for FCT. No other crypto, BTC included, is measured to such an extent by its actual usage. Per market cap, FCT may very well have the highest usage-to-market-cap ratio in crypto already. Look at the 13 coins with a larger market cap here:

http://coinmarketcap.com/

Which ones have higher actual (non-trading) usage than FCT at the moment? This alone is pretty amazing IMO. And this is setting aside the very real reasons for a speculative premium (Gates, Draper, DHS, SMARTRAC, etc).

I also disagree that M3 will be the trigger. Paul Snow called M2 "the capstone of this year and many others." Relative to M2, M3 is a more minor milestone (though obv extremely important in its own right).

I agree with this. After M2 gets out, we ll see how strong Factom is cause at that point it will be out in the market. The product will be finalized.

That's good news. Do you know if there was any information about there funding from Homeland Security?

Yes, the product will be more or less finalized (minus election protocol), the Exodus wallet integration will be out (or shortly thereafter), Factom will receive 1/3 of their initial funding per completion of M2, clients and partnerships will likely ramp up, and the world will finally be at peace. Exciting times ...

For the DHS grant, this was the official announcement from Factom:

https://www.factom.com/blog/dhs-s-t-awards-199k-to-austin-based-factom-inc

Googling "Factom AND Department of Homeland Security" will also turn up some articles.

I think there are a few threads on the DHS grant on /r/factom as well, and of course you can search this thread ("DHS" is probably best term).

[crazyivan]

As usual, good news achieves nothing, the price goes down again. I wonder if we expect too much from this project. What if this is the equlibrium price which will stay the same for a long, long time. After all, burning couple million Factoids can last 2-3 years. What if we have been too pink about our expectations?

[kerrang]

its simple, market makers left the building, that's why the price is in a boring sideway with all the good news lol.

[crazyivan]

its simple, market makers left the building, that's why the price is in a boring sideway with all the good news lol.

Good news should attract tons of new users and holders. How come it does not? This is one strange coin, everything which works in other markets, here means nothing.

[GrossBit]

its simple, market makers left the building, that's why the price is in a boring sideway with all the good news lol.

Good news should attract tons of new users and holders. How come it does not? This is one strange coin, everything which works in other markets, here means nothing.

volumes on Poloniex are trending down in all coins...
for the leader ETH, both volumes and prices is going down. It means most Polo traders are hurt.

XMR seems to stabilize and has decent volumes now. but hasn't been able so far to take the new lead and go back to its Sep highs.

If ETH or XMR rallies hard, FCT should start to rally in sympathy. It attempted a breakout from the downtrend line. Depending on how you draw it, you may argue we broke it already hence some buys today but it was quickly rejected which is not very bullish...not 100% clear yet, but it looks to me we may finally break it soon...resistance levels if we break 0.032 is around 0.037

[crazyivan]

its simple, market makers left the building, that's why the price is in a boring sideway with all the good news lol.

Good news should attract tons of new users and holders. How come it does not? This is one strange coin, everything which works in other markets, here means nothing.

volumes on Poloniex are trending down in all coins...
for the leader ETH, both volumes and prices is going down. It means most Polo traders are hurt.

XMR seems to stabilize and has decent volumes now. but hasn't been able so far to take the new lead and go back to its Sep highs.

If ETH or XMR rallies hard, FCT should start to rally in sympathy. It attempted a breakout from the downtrend line. Depending on how you draw it, you may argue we broke it already hence some buys today but it was quickly rejected which is not very bullish...not 100% clear yet, but it looks to me we may finally break it soon...resistance levels if we break 0.032 is around 0.037

I ve noticed this as well, most alts re going down, both in price and volume. There s no corresponding BTC price jump so this usually means calm sea before the storm.

[Capoboss]

its simple, market makers left the building, that's why the price is in a boring sideway with all the good news lol.

Good news should attract tons of new users and holders. How come it does not? This is one strange coin, everything which works in other markets, here means nothing.

It is strange that the price doenst move but I see FCT as a vulcano waiting to erupt.

[Ahaezod]

As someone already said, the Factom project is not easy to comprehend.

And two things: first, most of the factoids are on Polo. Second, if the trollbox is a good sample of the average polo investors, then don't expect the average polo investor to do much research on the coin he/she invests in.

Coins with high face value, or highest market cap, have pretty much all the same project, to be a digital currency as bitcoin is, with an additional feature, or a limited field of application (Monero, zCash, Dash, LiteCoin, DogeCoin, Augur, Steem, PotCoin?). The idea is easy to get and can be explained with one and short sentence. Ethereum is a bit different, but again, easy to globally understand: it's fuel to lunch smart contracts.

So even if I tell you that Bill Gates and other people support Factom, a project about audit, keeping record of files, with no direct use for you, investor, having a tricky business model, being an average investor who doesn't dig, you probably won't invest.

That's my point of view. Price won't rise due to speculators activity, but rather with normal and organic Factom utilisation growth.

[belowizard]

That's my point of view. Price won't rise due to speculators activity, but rather with normal and organic Factom utilisation growth.

my further guess is, that once "normal and organic Factom utilisation growth" happens, the situation will be easier for new investors to grasp - and they will step in.