[ANN] FACTOM - Introducing Honesty to Record-Keeping

[Divorcion]

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?

I think we have to wait a longer period until the natural growth steps in, maybe we were too pink or to hectic in our expectations.

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[TaaviK]

This is for crazyivan and everyone else who is perplexed at wtf is going on with the markets???. Maybe my view of things resonates with some of you.

This is how I view the markets:
It is incorrect to say that price follows news. I think it is more correct to actually say news follow price but that is also not the entire truth. Price has a tendency to actually "unlock" news. Good times (price trending up) produce good news, bad news get ignored. Bad times (price trending down) produce bad news, good news get ignored, shrugged off.

The market can be viewed as waves in an ocean. Not that market price action is like water but more like water is a good medium that visually shows the movement of energy as it passes through it. For example in this simple animation - https://www.youtube.com/watch?v=7yPTa8qi5X8
The water does not really move, it is just energy that passes through it because if water moved it would carry the red ball with it. You can make that experiment yourself in the sea or ocean.

So price movements show a wave-like pattern to it. Look at any price chart, at any time frame. This means that as with water it is energy passing through that creates the waves not actual physical water moving (water movement in oceans is brought about by currents but leave that aside for now). The driving force of markets is human passion, it is the energy of human emotion and the ups and downs that come with it. The market is made up of 1000s of individuals who compose this super average being (or "Mr.Market" - B.Graham). The price chart is the emotional state of this creature in time. Every market has its own collective characteristics that make up this "being" - this gets influenced by the personalities of people who actively trade in that market. The gold market has a distinct "being" or characteristic, the oli market has one, the apple stock has one etc.

So since I simplified the market down to a single human (being) level, I can now try to draw parallels from my own life to spot patterns to understand this creature better. Know thyself and you will start to understand markets.

As a human I find that when I have negative periods in my life (and these do come in cycles) there is not that much that I can really do to "get better". Often the best things is to just ride it out. The strong tendency in those periods is to view the world in negative colours. Much easier to see bad things than good. So good things happening to me might only have a diminished impact on my mood. On the other hand, when I am happy, ectatic, I see only positive things. Even small good things might get me excited. Also I might even start to view bad things happening to me as not really that important, I shrug it off.

Both, the negative mind and the positive mind have the ignorance of not seeing the other side of the coin. This is also why the "balanced" mindset is the most profitable one for the trader since from a balanced (emotionally) point of view all the positive and negative aspects can be grasped and evaluated more truly.

To analyse the current situation in the cryptomarket:
There is currently a big Bitcoin wave. The capital in the crypto space is very limited, not enough to go around. When Bitcoin starts to rise it will suck up a lot of capital, since altcoin space is a very easy place to get it from. Bitcoin is ruthless in that matter. This makes altcoins shit the bed.
BUT this will also change. Soon Bitcoin will breath out that capital again and that will have a good chance to ignite a nice altcoin bubble rally. When that will be? I do not know. If I had to guess it will depend on whether bitcoin breaks the ~$775-780 area or not. What I do know is that right now there is a huge sale of altcoins going on that will probably produce nice profits sooner than later.

[Mrboot]

This is for crazyivan and everyone else who is perplexed at wtf is going on with the markets???. Maybe my view of things resonates with some of you.

This is how I view the markets:
It is incorrect to say that price follows news. I think it is more correct to actually say news follow price but that is also not the entire truth. Price has a tendency to actually "unlock" news. Good times (price trending up) produce good news, bad news get ignored. Bad times (price trending down) produce bad news, good news get ignored, shrugged off.

The market can be viewed as waves in an ocean. Not that market price action is like water but more like water is a good medium that visually shows the movement of energy as it passes through it. For example in this simple animation - https://www.youtube.com/watch?v=7yPTa8qi5X8
The water does not really move, it is just energy that passes through it because if water moved it would carry the red ball with it. You can make that experiment yourself in the sea or ocean.

So price movements show a wave-like pattern to it. Look at any price chart, at any time frame. This means that as with water it is energy passing through that creates the waves not actual physical water moving (water movement in oceans is brought about by currents but leave that aside for now). The driving force of markets is human passion, it is the energy of human emotion and the ups and downs that come with it. The market is made up of 1000s of individuals who compose this super average being (or "Mr.Market" - B.Graham). The price chart is the emotional state of this creature in time. Every market has its own collective characteristics that make up this "being" - this gets influenced by the personalities of people who actively trade in that market. The gold market has a distinct "being" or characteristic, the oli market has one, the apple stock has one etc.

So since I simplified the market down to a single human (being) level, I can now try to draw parallels from my own life to spot patterns to understand this creature better. Know thyself and you will start to understand markets.

As a human I find that when I have negative periods in my life (and these do come in cycles) there is not that much that I can really do to "get better". Often the best things is to just ride it out. The strong tendency in those periods is to view the world in negative colours. Much easier to see bad things than good. So good things happening to me might only have a diminished impact on my mood. On the other hand, when I am happy, ectatic, I see only positive things. Even small good things might get me excited. Also I might even start to view bad things happening to me as not really that important, I shrug it off.

Both, the negative mind and the positive mind have the ignorance of not seeing the other side of the coin. This is also why the "balanced" mindset is the most profitable one for the trader since from a balanced (emotionally) point of view all the positive and negative aspects can be grasped and evaluated more truly.

To analyse the current situation in the cryptomarket:
There is currently a big Bitcoin wave. The capital in the crypto space is very limited, not enough to go around. When Bitcoin starts to rise it will suck up a lot of capital, since altcoin space is a very easy place to get it from. Bitcoin is ruthless in that matter. This makes altcoins shit the bed.
BUT this will also change. Soon Bitcoin will breath out that capital again and that will have a good chance to ignite a nice altcoin bubble rally. When that will be? I do not know. If I had to guess it will depend on whether bitcoin breaks the ~$775-780 area or not. What I do know is that right now there is a huge sale of altcoins going on that will probably produce nice profits sooner than later.

Dont forget that factom is pretty boring compare to many other altcoins, altcoins with useage in sectors people actually like games for example. But i think some coins might be the big winners in the future and those are the ones going x40 this time. my guess Fct and maid are pretty interresting, but only future can tell

[crazyivan]

This is for crazyivan and everyone else who is perplexed at wtf is going on with the markets???. Maybe my view of things resonates with some of you.

This is how I view the markets:
It is incorrect to say that price follows news. I think it is more correct to actually say news follow price but that is also not the entire truth. Price has a tendency to actually "unlock" news. Good times (price trending up) produce good news, bad news get ignored. Bad times (price trending down) produce bad news, good news get ignored, shrugged off.

The market can be viewed as waves in an ocean. Not that market price action is like water but more like water is a good medium that visually shows the movement of energy as it passes through it. For example in this simple animation - https://www.youtube.com/watch?v=7yPTa8qi5X8
The water does not really move, it is just energy that passes through it because if water moved it would carry the red ball with it. You can make that experiment yourself in the sea or ocean.

So price movements show a wave-like pattern to it. Look at any price chart, at any time frame. This means that as with water it is energy passing through that creates the waves not actual physical water moving (water movement in oceans is brought about by currents but leave that aside for now). The driving force of markets is human passion, it is the energy of human emotion and the ups and downs that come with it. The market is made up of 1000s of individuals who compose this super average being (or "Mr.Market" - B.Graham). The price chart is the emotional state of this creature in time. Every market has its own collective characteristics that make up this "being" - this gets influenced by the personalities of people who actively trade in that market. The gold market has a distinct "being" or characteristic, the oli market has one, the apple stock has one etc.

So since I simplified the market down to a single human (being) level, I can now try to draw parallels from my own life to spot patterns to understand this creature better. Know thyself and you will start to understand markets.

As a human I find that when I have negative periods in my life (and these do come in cycles) there is not that much that I can really do to "get better". Often the best things is to just ride it out. The strong tendency in those periods is to view the world in negative colours. Much easier to see bad things than good. So good things happening to me might only have a diminished impact on my mood. On the other hand, when I am happy, ectatic, I see only positive things. Even small good things might get me excited. Also I might even start to view bad things happening to me as not really that important, I shrug it off.

Both, the negative mind and the positive mind have the ignorance of not seeing the other side of the coin. This is also why the "balanced" mindset is the most profitable one for the trader since from a balanced (emotionally) point of view all the positive and negative aspects can be grasped and evaluated more truly.

To analyse the current situation in the cryptomarket:
There is currently a big Bitcoin wave. The capital in the crypto space is very limited, not enough to go around. When Bitcoin starts to rise it will suck up a lot of capital, since altcoin space is a very easy place to get it from. Bitcoin is ruthless in that matter. This makes altcoins shit the bed.
BUT this will also change. Soon Bitcoin will breath out that capital again and that will have a good chance to ignite a nice altcoin bubble rally. When that will be? I do not know. If I had to guess it will depend on whether bitcoin breaks the ~$775-780 area or not. What I do know is that right now there is a huge sale of altcoins going on that will probably produce nice profits sooner than later.

I actually agree with you on this last paragraph. The rest, well it gets more into philosophical then crypto domain. My main issue is GOOD PROJECTS ATTRACT MONEY. For the last couple of weeks and months, we see lots of good news and not a lot of new money into Factom. 2 possible conclusions: either Factom s not a good project and we re all just too pink and positive or there s some other externality which affects the price. I d go with the second option and this other externality is margin lending which keeps tons of cheap coins on Polo due to lack of a decent wallet. This should change soon and then we can test this theory of mine.

[GrossBit]

This is for crazyivan and everyone else who is perplexed at wtf is going on with the markets???. Maybe my view of things resonates with some of you.

This is how I view the markets:
It is incorrect to say that price follows news. I think it is more correct to actually say news follow price but that is also not the entire truth. Price has a tendency to actually "unlock" news. Good times (price trending up) produce good news, bad news get ignored. Bad times (price trending down) produce bad news, good news get ignored, shrugged off.

The market can be viewed as waves in an ocean. Not that market price action is like water but more like water is a good medium that visually shows the movement of energy as it passes through it. For example in this simple animation - https://www.youtube.com/watch?v=7yPTa8qi5X8
The water does not really move, it is just energy that passes through it because if water moved it would carry the red ball with it. You can make that experiment yourself in the sea or ocean.

So price movements show a wave-like pattern to it. Look at any price chart, at any time frame. This means that as with water it is energy passing through that creates the waves not actual physical water moving (water movement in oceans is brought about by currents but leave that aside for now). The driving force of markets is human passion, it is the energy of human emotion and the ups and downs that come with it. The market is made up of 1000s of individuals who compose this super average being (or "Mr.Market" - B.Graham). The price chart is the emotional state of this creature in time. Every market has its own collective characteristics that make up this "being" - this gets influenced by the personalities of people who actively trade in that market. The gold market has a distinct "being" or characteristic, the oli market has one, the apple stock has one etc.

So since I simplified the market down to a single human (being) level, I can now try to draw parallels from my own life to spot patterns to understand this creature better. Know thyself and you will start to understand markets.

As a human I find that when I have negative periods in my life (and these do come in cycles) there is not that much that I can really do to "get better". Often the best things is to just ride it out. The strong tendency in those periods is to view the world in negative colours. Much easier to see bad things than good. So good things happening to me might only have a diminished impact on my mood. On the other hand, when I am happy, ectatic, I see only positive things. Even small good things might get me excited. Also I might even start to view bad things happening to me as not really that important, I shrug it off.

Both, the negative mind and the positive mind have the ignorance of not seeing the other side of the coin. This is also why the "balanced" mindset is the most profitable one for the trader since from a balanced (emotionally) point of view all the positive and negative aspects can be grasped and evaluated more truly.

To analyse the current situation in the cryptomarket:
There is currently a big Bitcoin wave. The capital in the crypto space is very limited, not enough to go around. When Bitcoin starts to rise it will suck up a lot of capital, since altcoin space is a very easy place to get it from. Bitcoin is ruthless in that matter. This makes altcoins shit the bed.
BUT this will also change. Soon Bitcoin will breath out that capital again and that will have a good chance to ignite a nice altcoin bubble rally. When that will be? I do not know. If I had to guess it will depend on whether bitcoin breaks the ~$775-780 area or not. What I do know is that right now there is a huge sale of altcoins going on that will probably produce nice profits sooner than later.

glad to see at last someone who gets it here !!!

[Mrboot]

This is for crazyivan and everyone else who is perplexed at wtf is going on with the markets???. Maybe my view of things resonates with some of you.

This is how I view the markets:
It is incorrect to say that price follows news. I think it is more correct to actually say news follow price but that is also not the entire truth. Price has a tendency to actually "unlock" news. Good times (price trending up) produce good news, bad news get ignored. Bad times (price trending down) produce bad news, good news get ignored, shrugged off.

The market can be viewed as waves in an ocean. Not that market price action is like water but more like water is a good medium that visually shows the movement of energy as it passes through it. For example in this simple animation - https://www.youtube.com/watch?v=7yPTa8qi5X8
The water does not really move, it is just energy that passes through it because if water moved it would carry the red ball with it. You can make that experiment yourself in the sea or ocean.

So price movements show a wave-like pattern to it. Look at any price chart, at any time frame. This means that as with water it is energy passing through that creates the waves not actual physical water moving (water movement in oceans is brought about by currents but leave that aside for now). The driving force of markets is human passion, it is the energy of human emotion and the ups and downs that come with it. The market is made up of 1000s of individuals who compose this super average being (or "Mr.Market" - B.Graham). The price chart is the emotional state of this creature in time. Every market has its own collective characteristics that make up this "being" - this gets influenced by the personalities of people who actively trade in that market. The gold market has a distinct "being" or characteristic, the oli market has one, the apple stock has one etc.

So since I simplified the market down to a single human (being) level, I can now try to draw parallels from my own life to spot patterns to understand this creature better. Know thyself and you will start to understand markets.

As a human I find that when I have negative periods in my life (and these do come in cycles) there is not that much that I can really do to "get better". Often the best things is to just ride it out. The strong tendency in those periods is to view the world in negative colours. Much easier to see bad things than good. So good things happening to me might only have a diminished impact on my mood. On the other hand, when I am happy, ectatic, I see only positive things. Even small good things might get me excited. Also I might even start to view bad things happening to me as not really that important, I shrug it off.

Both, the negative mind and the positive mind have the ignorance of not seeing the other side of the coin. This is also why the "balanced" mindset is the most profitable one for the trader since from a balanced (emotionally) point of view all the positive and negative aspects can be grasped and evaluated more truly.

To analyse the current situation in the cryptomarket:
There is currently a big Bitcoin wave. The capital in the crypto space is very limited, not enough to go around. When Bitcoin starts to rise it will suck up a lot of capital, since altcoin space is a very easy place to get it from. Bitcoin is ruthless in that matter. This makes altcoins shit the bed.
BUT this will also change. Soon Bitcoin will breath out that capital again and that will have a good chance to ignite a nice altcoin bubble rally. When that will be? I do not know. If I had to guess it will depend on whether bitcoin breaks the ~$775-780 area or not. What I do know is that right now there is a huge sale of altcoins going on that will probably produce nice profits sooner than later.

glad to see at last someone who gets it here !!!

If people dont share your vision doesnt mean they are wrong, i remember your prediction it will go down blah blah blah. I bought and made like 30% all the way up to 400k ! Im happy you get it hope you shorted.

[GrossBit]

you just have a bad memory. my posts are still here, and anybody can see the chart... and compare

my PL doing fine

[Mrboot]

you just have a bad memory. my posts are still here, and anybody can see the chart... and compare

my PL doing fine

You mean you switched sides when you found out your Fud didnt work cause factom only heading one way.

[accripteau]

For the sake of circular conversation... please, let bygones be bygones.

[D-Lux]

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.

I think these are interesting points. In some ways the Exodus wallet may actually provide more of a bump to the price than M2, as crazy as that may sound to people who have been following Factom closely. It'll help take FCT off Polo, thereby reducing shorting, and will also help the average investor "connect" to Factom/FCT in a way that they haven't really been able to before.

Well maybe not "more than" M2, but I agree with those people who think Exodus's significance can't be underestimated.

Price won't rise due to speculators activity, but rather with normal and organic Factom utilisation growth.

I'm not sure I agree with this. The price moves only due to speculators' activity. The issue is how well informed those speculators/investors are, how connected they feel to the project (I'm talking emotions, which ETH had in spades courtesy of the charisma of VB), and maybe also how the charts are reading (still heavy whale suppression, though this should ease with rising volume after the the release of M2 + Exodus).

Also, for the Trollbox, there are a lot of noobs of various stripes, but there are also some intelligent folks, actually. It's a big, messy, cacophonous grab-bag. Looking at ...

http://www.polonibox.com/?messageText=fct

seems to show an increasing number of people waiting for the price to trend upward before filling up on FCT. Someone posted today "if we break 320k FCT i will double my stash." I believe a lot of other people are in the same boat. Right now, each time the price rises, it gets cut back down again. So ... investors are disincentivized to buy atm. BUT more and more people are starting to look into FCT, and everyone knows M2+Exodus is (likely) weeks away. My guess: a lot of people are waiting for a several-day price rise, after which the interested-but-not-yet-(fully)-invested investors will begin to fomo. Tl;dr: There are a lot of people waiting to invest, I think, which is a sign of healthy, possibly abrupt, growth.

[lolikop]

Devs please dont release m2 untill price hits 430k   

[crazyivan]

Devs please dont release m2 untill price hits 430k   

Which will get there how exactly? In case you rub the magic lamp?

Almost all alts re in decline now, look at Ether. Factom s been holding on for now.

[Pap0u]

I think a few whales are splashing in on the buy side as we can see from these little waves....they are keeping low and buying in anywhere from 29-31. I believe we will be seeing the next big pump in crypto with Factom. There is just no other project that can justify the next big thing and Factom literally fills every single role.

[lolikop]

Devs please dont release m2 untill price hits 430k  

Which will get there how exactly? In case you rub the magic lamp?

Almost all alts re in decline now, look at Ether. Factom s been holding on for now.

ETH Really Everyone knows eth needs 20 more hf to be working normal and even then its still in doubt, eth is done we will see eth in 2017 @ 300k and fct blowing over eth`s ath

Common more crazy fud crazyivan i still didnt buy more because its not getting cheaper


EDIT: Im pretty sure crazyivan got a bag of eth bought @0.02 and hes just panicking right now (he wants to buy more fct)

[crazyivan]

Devs please dont release m2 untill price hits 430k  

Which will get there how exactly? In case you rub the magic lamp?

Almost all alts re in decline now, look at Ether. Factom s been holding on for now.

ETH Really Everyone knows eth needs 20 more hf to be working normal and even then its still in doubt, eth is done we will see eth in 2017 @ 300k and fct blowing over eth`s ath

Common more crazy fud crazyivan i still didnt buy more because its not getting cheaper


EDIT: Im pretty sure crazyivan got a bag of eth bought @0.02 and hes just panicking right now (he wants to buy more fct)

Heh, bud, pls stop with these kindergarten stories about me trying to move the price with my comments or being scared about some other market. Fuck that market and that coin which can moved by the few posts of one guy. If Bill Gates can't move Factom price, I m sure I can't either. Also, I ve been into crypto for a long time and I ve learned the hard way that placing all your eggs in one basket and then expecting it will bring you miraculous wealth simply does not work. I d never have bag of anything cause it s simply stupid, I do differentiate my investments and I do quite well at the end of each month when it s time to cash out. I know you re upset your 33 Factoids re not worth million dollars so you feel free to identify crazyivan as the one who s behind that. I ve got news for you bud, THEY WILL NEVER BE WORTH MILLION DOLLARS. Good luck.

[GrossBit]

you just have a bad memory. my posts are still here, and anybody can see the chart... and compare

my PL doing fine

You mean you switched sides when you found out your Fud didnt work cause factom only heading one way.

i mean I sold over 0.005 and starting to buy now... what exactly didn't work ?

[GrossBit]

Heh, bud, pls stop with these kindergarten stories about me trying to move the price with my comments or being scared about some other market. Fuck that market and that coin which can moved by the few posts of one guy. If Bill Gates can't move Factom price, I m sure I can't either. Also, I ve been into crypto for a long time and I ve learned the hard way that placing all your eggs in one basket and then expecting it will bring you miraculous wealth simply does not work. I d never have bag of anything cause it s simply stupid, I do differentiate my investments and I do quite well at the end of each month when it s time to cash out. I know you re upset your 33 Factoids re not worth million dollars so you feel free to identify crazyivan as the one who s behind that. I ve got news for you bud, THEY WILL NEVER BE WORTH MILLION DOLLARS. Good luck.

I can agree with almost everything CrazyIvan is saying, but funny to see how hypocrite he is after having bashed me for saying the same kind of truths that he is doing now.

[Mrboot]

Heh, bud, pls stop with these kindergarten stories about me trying to move the price with my comments or being scared about some other market. Fuck that market and that coin which can moved by the few posts of one guy. If Bill Gates can't move Factom price, I m sure I can't either. Also, I ve been into crypto for a long time and I ve learned the hard way that placing all your eggs in one basket and then expecting it will bring you miraculous wealth simply does not work. I d never have bag of anything cause it s simply stupid, I do differentiate my investments and I do quite well at the end of each month when it s time to cash out. I know you re upset your 33 Factoids re not worth million dollars so you feel free to identify crazyivan as the one who s behind that. I ve got news for you bud, THEY WILL NEVER BE WORTH MILLION DOLLARS. Good luck.

I can agree with almost everything CrazyIvan is saying, but funny to see how hypocrite he is after having bashed me for saying the same kind of truths that he is doing now.

To test my memorie crazyivan sold all hes factoms cause he was seeing more in eth, i guess that wasnt such a good guess.
Anyway i agree on the fact he was super bullish and suddenly he is complete bearish.

Anyway we will see m2 might see a nice increase in entry credits and that means some nice burning happening . Im just holding.
If it goes lower i just buy more and lower my avarage ( btw my avarage is already way sub zero on factom ) Best coin 2016 for me.

you just have a bad memory. my posts are still here, and anybody can see the chart... and compare

my PL doing fine

You mean you switched sides when you found out your Fud didnt work cause factom only heading one way.

i mean I sold over 0.005 and starting to buy now... what exactly didn't work ?

If you did that i can only say good trade.

[GrossBit]

yes i closed a good trade at 0.005.

now i bought again, but i don't know if its going to be a good trade this time. The market is already lower than where i bought

[Mrboot]

yes i closed a good trade at 0.005.

now i bought again, but i don't know if its going to be a good trade this time. The market is already lower than where i bought

Buying exactly on the buttom is not possible every time, just to make a target is easier and then sitback and wait till it hits the target.
I think as soon m2 is started, and people like smartrac and the bill foundation start testing and using m2 thats when the biggest gain will happen.

And i dont know the time it will take to enter to m3, but every day it takes longer will cut the simply more and more. Eventually company's will also start collecting and holding factoids.

The entry credits are picking up again, good start