[ANN] FACTOM - Introducing Honesty to Record-Keeping

[harvsmith]

There's something very strange going on with the exchanges here.  There is no reason for integrating Factoids to take so much longer than integrating other fresh code base "coins".

Nothing strange.  The last release exposes more granular transaction data through the API calls.  As someone that has integrated factoid already, this update is very appreciated.  It also makes integration easier.  That may be the holdup.  We do not have to handle 1000 users at any given time so we can make allowances.  Exchanges may may be waiting on the data that is now easily available.




If you are looking to acquire some factoid before they make it to the exchanges, PM me.  We have a service that does that.

10x spread on your "exchange"?

We are not an exchange.  To me an exchange is a public order book or a dollar to bitcoin service.  We have a two party trade between our user and us.  That is not a public price spread.  That is our price spread.  The reason there is such a spread is that we have a bunch at the moment so we are not as motivated to buy as we were last week when our buy price was as high as 0.003.  We do not expect someone to sell at 0.0005.  That is less than the crowdsale price.  When we sell some Factoid, our buy and sell price will go up.  But, if someone does want to unload at 0.0005 we are certainly willing to buy them.



Exchange used to be in our name.  We changed it to Services to avoid that confusion.  Plus, we are aiming to be someone that helps people bring their projects to the market.  Building our site we have spent a lot of time talking to regulators (mostly state level in US) , integrating with exchanges for price discovery, wallet automation and (formal or informal) input on projects going on in the area.  Services fits our mission better now.

Sounds like a long-winded way of saying that your "mission" is to rip people off by charging 10x the ipo price for something that might not even make it onto a real exchange.

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[mishax1]

Exchanges that get requests from the community (some of them have even their request coin section) are more inclined to add a new coin, so please do submit requests to add Factoids to your favourite exchanges.
In the meantime the team will also reach out to some of the exchanges to request support for Factoids.
We hear you and act upon feedback. We can't guarantee we'll be on an exchange soon but we will try our best.
 

Why is everyone so eager for exchanges? Preparing to dump? If you believe in factom, patience is no problem. The more good news that stacks up before release into the wild, the better. After a few large companies implement or even experiment with factom recordkeeping, the value will be incrementally higher. KPMG and Deloitte will be buying rather than noobie cryptogamblers. Who would you rather sell your factoids to?

It is only natural for a project that reached the ability to be traded to hit the exchange.. and the fact that you are seeing a few people wanting it to be traded should not bother you or others since these are only a few "small" fish..

[Joerii]

Looking at harvsmith's post history this is obviously a troll account.

[Bagatell]

Looking at harvsmith's post history this is obviously a troll account.

FACTOMs troll following is pretty impressive. It's partly what keeps me interested in it. 

[dcxtx]

There's something very strange going on with the exchanges here.  There is no reason for integrating Factoids to take so much longer than integrating other fresh code base "coins".

Nothing strange.  The last release exposes more granular transaction data through the API calls.  As someone that has integrated factoid already, this update is very appreciated.  It also makes integration easier.  That may be the holdup.  We do not have to handle 1000 users at any given time so we can make allowances.  Exchanges may may be waiting on the data that is now easily available.




If you are looking to acquire some factoid before they make it to the exchanges, PM me.  We have a service that does that.

10x spread on your "exchange"?

We are not an exchange.  To me an exchange is a public order book or a dollar to bitcoin service.  We have a two party trade between our user and us.  That is not a public price spread.  That is our price spread.  The reason there is such a spread is that we have a bunch at the moment so we are not as motivated to buy as we were last week when our buy price was as high as 0.003.  We do not expect someone to sell at 0.0005.  That is less than the crowdsale price.  When we sell some Factoid, our buy and sell price will go up.  But, if someone does want to unload at 0.0005 we are certainly willing to buy them.



Exchange used to be in our name.  We changed it to Services to avoid that confusion.  Plus, we are aiming to be someone that helps people bring their projects to the market.  Building our site we have spent a lot of time talking to regulators (mostly state level in US) , integrating with exchanges for price discovery, wallet automation and (formal or informal) input on projects going on in the area.  Services fits our mission better now.

Sounds like a long-winded way of saying that your "mission" is to rip people off by charging 10x the ipo price for something that might not even make it onto a real exchange.

You are free to read my response as you would like.

[dwma]

Looking at harvsmith's post history this is obviously a troll account.

FACTOMs troll following is pretty impressive. It's partly what keeps me interested in it.  

The bitcointalk troll squad only trolls projects that threaten them to some extent. There are a ton of real scammy projects but people don't even bother to troll. Factom is a legitimate project with legitimate goals and a team based in the US.  

AND dcxtx runs a legitimate service also based in the US.

[italianMiner72]

hi to all!

i just installed factom 3.2 wallet..
but i don't understand how to redeem coins purchased in ipo.
here are my td-id with which i buyed Fatcoms: f71263c1f77fa7091bd8a52a4c767c9a1640d881ec18c8d39876707e6214f150
how i can import in my wallet...
there is a simple windows how to?
thank you!

[Bagatell]

The bitcointalk troll squad only trolls projects that threaten them to some extent.

A hole in one! Drinks are on you I believe.

[harvsmith]

Looking at harvsmith's post history this is obviously a troll account.

FACTOMs troll following is pretty impressive. It's partly what keeps me interested in it.  

The bitcointalk troll squad only trolls projects that threaten them to some extent. There are a ton of real scammy projects but people don't even bother to troll. Factom is a legitimate project with legitimate goals and a team based in the US.  

AND dcxtx runs a legitimate service also based in the US.

I'm actually a fan and investor in Factom. My issue is with dcxtx's "service." I think it's disingenuous to charge 10x the ico price for FCT when it is not even listed. But this is crypto, right? Everyone is trying to pull a fast one, so it's OK. Also, being based in the US does not make something legitimate.

[dcxtx]

Looking at harvsmith's post history this is obviously a troll account.

FACTOMs troll following is pretty impressive. It's partly what keeps me interested in it.  

The bitcointalk troll squad only trolls projects that threaten them to some extent. There are a ton of real scammy projects but people don't even bother to troll. Factom is a legitimate project with legitimate goals and a team based in the US.  

AND dcxtx runs a legitimate service also based in the US.

I'm actually a fan and investor in Factom. My issue is with dcxtx's "service." I think it's disingenuous to charge 10x the ico price for FCT when it is not even listed. But this is crypto, right? Everyone is trying to pull a fast one, so it's OK. Also, being based in the US does not make something legitimate.

Hey Harvsmith,
  I am not sure how our price is disingenuous.  That is the price that we are willing to accept .  Was it also disingenuous for us to buy at higher than the ico price?  What is your definition of listed?  One exchange?  Three so it is not a monopoly?  We have a "service" where, after setting up an account, you send us bitcoin and ,at the price we have posted, we automatically send you back factoid.  I am sorry if that has offended your sensibilities.

[mishax1]

hi to all!

i just installed factom 3.2 wallet..
but i don't understand how to redeem coins purchased in ipo.
here are my td-id with which i buyed Fatcoms: f71263c1f77fa7091bd8a52a4c767c9a1640d881ec18c8d39876707e6214f150
how i can import in my wallet...
there is a simple windows how to?
thank you!

http://factom.org/howto

[BitcoinSanDiego]

Looking at harvsmith's post history this is obviously a troll account.

FACTOMs troll following is pretty impressive. It's partly what keeps me interested in it.  

The bitcointalk troll squad only trolls projects that threaten them to some extent. There are a ton of real scammy projects but people don't even bother to troll. Factom is a legitimate project with legitimate goals and a team based in the US.  

AND dcxtx runs a legitimate service also based in the US.

I'm actually a fan and investor in Factom. My issue is with dcxtx's "service." I think it's disingenuous to charge 10x the ico price for FCT when it is not even listed. But this is crypto, right? Everyone is trying to pull a fast one, so it's OK. Also, being based in the US does not make something legitimate.

Hey Harvsmith,
  I am not sure how our price is disingenuous.  That is the price that we are willing to accept .  Was it also disingenuous for us to buy at higher than the ico price?  What is your definition of listed?  One exchange?  Three so it is not a monopoly?  We have a "service" where, after setting up an account, you send us bitcoin and ,at the price we have posted, we automatically send you back factoid.  I am sorry if that has offended your sensibilities.

dcxtx,

Don't mind these guys, they obviously don't understand how a free market works

[MobyDick_Poloniex]

FCT/BTC #Factom market added at Poloniex.   

https://poloniex.com/exchange#btc_fct

[dcxtx]

The order book spread on dcxtx just went wide as trading on Poloniex has gone live.  When Poloniex prices settle, factoids will be put into our usual price determination system that will be much closer to market now that one is being established.

[FACTOM]

Our first FCT Factom (factoids) market is now live thanks to Poloniex.

https://poloniex.com/exchange#btc_fct

For more info on how to use your Factoids follow our guides here: http://factom.org/howto.

Pay attention when using the command line, read our guides fully at least once before attempting a transaction.

We are working on an easier to use GUI wallet but it is some time away, if unsure, we recommend holding on until its release.

[donnyespo]

Our first FCT Factom (factoids) market is now live thanks to Poloniex.

https://poloniex.com/exchange#btc_fct

For more info on how to use your Factoids follow our guides here: http://factom.org/howto.

Pay attention when using the command line, read our guides fully at least once before attempting a transaction.

We are working on an easier to use GUI wallet but it is some time away, if unsure, we recommend holding on until its release.

Nice to see Poloniex jumping in first, they are a legit exchange.

[Djinou94]

Our first FCT Factom (factoids) market is now live thanks to Poloniex.

https://poloniex.com/exchange#btc_fct

For more info on how to use your Factoids follow our guides here: http://factom.org/howto.

Pay attention when using the command line, read our guides fully at least once before attempting a transaction.

We are working on an easier to use GUI wallet but it is some time away, if unsure, we recommend holding on until its release.

No easy way to transfer the coins directly to Poloniex without install that command line wallet?

[BitcoinSanDiego]

Our first FCT Factom (factoids) market is now live thanks to Poloniex.

https://poloniex.com/exchange#btc_fct

For more info on how to use your Factoids follow our guides here: http://factom.org/howto.

Pay attention when using the command line, read our guides fully at least once before attempting a transaction.

We are working on an easier to use GUI wallet but it is some time away, if unsure, we recommend holding on until its release.

Help please.  I am getting this error when trying to import my Factom wallet using the 12-word secret key:

"Error attempting to create wallet - invalid character 'S' looking for beginning of value"

I already double checked with Koinify and verified the phrase is correct

*edit* I get this error on Mac and Windows

When I check my balance on Koinify it is correct, but when I try to import this key, I get this error.  I tested with 12 yellows and I got the same Factoid address as in the How-to, but I cannot import my key... WTF  This sucks

[danosphere]

Our first FCT Factom (factoids) market is now live thanks to Poloniex.

https://poloniex.com/exchange#btc_fct

For more info on how to use your Factoids follow our guides here: http://factom.org/howto.

Pay attention when using the command line, read our guides fully at least once before attempting a transaction.

We are working on an easier to use GUI wallet but it is some time away, if unsure, we recommend holding on until its release.

I can verify this is working, just transferred some test FCT to polo. Def takes some terminal-fu to get it from A to B right now but it works. If you aren't comfortable in terminal, i suggest you wait for a GUI.

[bitcoinrocks]

Once I've imported my Koinify balance to my Factom wallet, can the 12 Koinify words be used to re-import it to another wallet?