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Author Topic: [ANN] FACTOM - Introducing Honesty to Record-Keeping  (Read 2112727 times)
assetdiversification
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May 06, 2017, 12:34:35 PM
 #8381

Hi guys,

Relatively new to cryptocurrency, so pardon my newbie questions. I have been reading and studying everything I can lately.  I would like to purchase some FCT that I will hold for the long term (no trading), but I have some questions about storing it first.  FCT doesn't have an easy to use wallet like many of the others.  I followed the directions here to set up the papermill: https://www.factom.com/devs/docs/howto/use-factoidpapermill

The papermill didn't launch at first, so I followed the directions, opening the terminal window, etc. 

Now, every time I click on factoidpapermill-mac, it gives me a newly generated factoid private key and factoid address.  So all is well correct?

Now all I have to do is purchase the FTC on poloniex and then send those purchases to the factoid address that was generated?  Then I just need to store the FTC privatekey and FTC address on paper and keep them in a safe place? 

Since this isn't like a typical wallet I'm used to, how will I confirm the transfer was actually completed?  How will I ever view my balances?  How would I ever send them to another wallet such as Exodus (when the option becomes available)?

Thanks for all your help in advance.  It's much appreciated.




The simple way would be this:

1. You generate a key-pair with the papermill (or more if needed)
2. You send FCT from Polo to the address (and you store the private key safe and in best case offline)
3. You can check the balance of that address on the explorer: http://explorer.factom.org (just copy-paste the adress)

(sidenote: the explorer lagged a little bit in the last weeks but they are working to solve it or it is already solved)

4. If you want to transfer your FCT you can import the private key into exodus (once it's released).

A screenshot how to do that (Mac, but PC won't be that different is my guess): http://imgur.com/QYAin3c


What I do to be extra safe:

1. I use an old laptop that stays offline
2. I generate a keypair with papermill
3. I've also the wallet installed - it is offline of course because the laptop is offline, but it's possible to import the private key to doublecheck

sidenote: there was never a problem

4. I send FCT on the address
5. private key doesn't touch any online device until I want to move my Factoids.



Thanks for the prompt response.  Pardon my ignorance, what's a key-pair?   Huh  Is that just what I generated with the FTC address and FTC private key?
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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tempus
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May 06, 2017, 12:57:11 PM
 #8382

Hi guys,

Relatively new to cryptocurrency, so pardon my newbie questions. I have been reading and studying everything I can lately.  I would like to purchase some FCT that I will hold for the long term (no trading), but I have some questions about storing it first.  FCT doesn't have an easy to use wallet like many of the others.  I followed the directions here to set up the papermill: https://www.factom.com/devs/docs/howto/use-factoidpapermill

The papermill didn't launch at first, so I followed the directions, opening the terminal window, etc. 

Now, every time I click on factoidpapermill-mac, it gives me a newly generated factoid private key and factoid address.  So all is well correct?

Now all I have to do is purchase the FTC on poloniex and then send those purchases to the factoid address that was generated?  Then I just need to store the FTC privatekey and FTC address on paper and keep them in a safe place? 

Since this isn't like a typical wallet I'm used to, how will I confirm the transfer was actually completed?  How will I ever view my balances?  How would I ever send them to another wallet such as Exodus (when the option becomes available)?

Thanks for all your help in advance.  It's much appreciated.




The simple way would be this:

1. You generate a key-pair with the papermill (or more if needed)
2. You send FCT from Polo to the address (and you store the private key safe and in best case offline)
3. You can check the balance of that address on the explorer: http://explorer.factom.org (just copy-paste the adress)

(sidenote: the explorer lagged a little bit in the last weeks but they are working to solve it or it is already solved)

4. If you want to transfer your FCT you can import the private key into exodus (once it's released).

A screenshot how to do that (Mac, but PC won't be that different is my guess): http://imgur.com/QYAin3c


What I do to be extra safe:

1. I use an old laptop that stays offline
2. I generate a keypair with papermill
3. I've also the wallet installed - it is offline of course because the laptop is offline, but it's possible to import the private key to doublecheck

sidenote: there was never a problem

4. I send FCT on the address
5. private key doesn't touch any online device until I want to move my Factoids.



Thanks for the prompt response.  Pardon my ignorance, what's a key-pair?   Huh  Is that just what I generated with the FTC address and FTC private key?

Yes, right. It's always about..

- public key - the address and can be made public (in fact it is public because it's displayed on the explorer)
- private key - should be stored as secure as possible
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May 06, 2017, 08:49:03 PM
 #8383


So are you saying that factom is a scam?


Yes Factom is a scam, and its supported by the Department of Homeland Security, Bill gates, Draper Associates, Stewart Title, Overstock, Fenbushi Capital, Plug & Play, Peeli Ventures, and Harvest Equity,

Could be the best scam ever existed  Grin

With all that "support", I'd expect FCT to be manipulated hardcore and over the value of BTC, or at least ETH by now...
Why must you FUD one of the top 5 projects in the crypto space? Trying to buy cheap?
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May 06, 2017, 09:04:02 PM
 #8384


So are you saying that factom is a scam?


Yes Factom is a scam, and its supported by the Department of Homeland Security, Bill gates, Draper Associates, Stewart Title, Overstock, Fenbushi Capital, Plug & Play, Peeli Ventures, and Harvest Equity,

Could be the best scam ever existed  Grin

With all that "support", I'd expect FCT to be manipulated hardcore and over the value of BTC, or at least ETH by now...
Why must you FUD one of the top 5 projects in the crypto space? Trying to buy cheap?

lolikop is just a little bit sarcastic/ironic - he is one of the top factom-supporters. ;-)
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May 07, 2017, 04:18:38 AM
 #8385


So are you saying that factom is a scam?


Yes Factom is a scam, and its supported by the Department of Homeland Security, Bill gates, Draper Associates, Stewart Title, Overstock, Fenbushi Capital, Plug & Play, Peeli Ventures, and Harvest Equity,

Could be the best scam ever existed  Grin

With all that "support", I'd expect FCT to be manipulated hardcore and over the value of BTC, or at least ETH by now...
Why must you FUD one of the top 5 projects in the crypto space? Trying to buy cheap?

lolikop is just a little bit sarcastic/ironic - he is one of the top factom-supporters. ;-)

HA!
I didn't read the previous messages to put that into context.
Assistance appreciated.
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May 07, 2017, 11:19:02 AM
 #8386

Over the past weeks I have been watching the sell order book for FCT on Poloniex drop from the 400-500k range down to where it is now. 180k-200k and dropping daily now. Pretty wild to see the clear demand as the book slowly runs out of coins for sale.

There is about 24k at 0.0075 which seems to be a resistance point coming up very very quickly.
Should be fun to see what happens the rest of this month.
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May 07, 2017, 12:28:31 PM
 #8387

About a week ago I bought FCT on Polo and send it to Trex and it hasn't shown up (yet). Is the network still down?

It's possible that it was down at that time. What many experienced was that Polo provided a txid but the transaction was not really sent. Maybe that's also the problem with your withdrawal from Polo to Bittrex. In that case you should open a ticket...

I did open a ticket a few days back, still waiting for a response. Nothing to do but wait I guess, thanks for the quick response.

Still waiting for Poloniex to respond after alerting the moderators 2 times in the meantime.
But did Factom inform the exchanges that they took the network down? The wallets should have been disabled and that wasn't the case on Poloniex and Bittrex that day.
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May 07, 2017, 04:43:22 PM
 #8388

About a week ago I bought FCT on Polo and send it to Trex and it hasn't shown up (yet). Is the network still down?

It's possible that it was down at that time. What many experienced was that Polo provided a txid but the transaction was not really sent. Maybe that's also the problem with your withdrawal from Polo to Bittrex. In that case you should open a ticket...

I did open a ticket a few days back, still waiting for a response. Nothing to do but wait I guess, thanks for the quick response.

Still waiting for Poloniex to respond after alerting the moderators 2 times in the meantime.
But did Factom inform the exchanges that they took the network down? The wallets should have been disabled and that wasn't the case on Poloniex and Bittrex that day.

The same here, no reply of action from Poloniex side. Hope to see this resolved soon. It kinda feels as they wait for the problem to gets resolved by itself.

For security, your account has been locked. Email acctcomp15@theymos.e4ward.com
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May 07, 2017, 08:09:01 PM
 #8389

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May 09, 2017, 01:47:55 AM
 #8390

new binaries are out: https://github.com/FactomProject/distribution
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May 09, 2017, 03:42:50 AM
 #8391

sleeping giant. will be billion $ cap soon. real world uses like ripple.
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May 09, 2017, 05:27:54 AM
 #8392

whenever i try to generate a key pair the command line with the keys will just appear and then disappear, anyone got any suggestions on how to troubleshoot this?

Thanks

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May 09, 2017, 06:15:20 AM
 #8393

sleeping giant. will be billion $ cap soon. real world uses like ripple.

Real investors re incredibly patient. Really, really, really patient. I can wait as long as it takes but Factom price, I will not miss.

For security, your account has been locked. Email acctcomp15@theymos.e4ward.com
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May 09, 2017, 12:27:30 PM
 #8394

Christmas is early this year  Grin .. the new Enterprise Wallet is out with everything fixed as promised and now the price has dropped making it a great entry point.

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May 09, 2017, 05:36:43 PM
 #8395

i cant find fct on my exodus wallet..
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May 09, 2017, 06:04:02 PM
 #8396

i cant find fct on my exodus wallet..

It's not released yet. But the chances seem to be good that FCT will be included in the next Exodus-release.

If you've seen Screenshots: That was testing - I also was one of those who had the opportunity to test exodus with Factoids and it's great! Transactions in seconds btw.
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May 09, 2017, 06:10:22 PM
 #8397

i cant find fct on my exodus wallet..

It's not released yet. But the chances seem to be good that FCT will be included in the next Exodus-release.

If you've seen Screenshots: That was testing - I also was one of those who had the opportunity to test exodus with Factoids and it's great! Transactions in seconds btw.

I m not sure about May 11 release but the one which ll take place by the end of this month, I ve got really high hopes for that update. I think we re going to see Factom on Polo before the end of this month.

For security, your account has been locked. Email acctcomp15@theymos.e4ward.com
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May 09, 2017, 06:26:25 PM
 #8398

i cant find fct on my exodus wallet..

It's not released yet. But the chances seem to be good that FCT will be included in the next Exodus-release.

If you've seen Screenshots: That was testing - I also was one of those who had the opportunity to test exodus with Factoids and it's great! Transactions in seconds btw.

I m not sure about May 11 release but the one which ll take place by the end of this month, I ve got really high hopes for that update. I think we re going to see Factom on Polo before the end of this month.
just got curious with your answer if i understand it right Factom already inside polo and its been traded there the price is really moving down a great opportunity to buy more while btc still rising better to hold and wait for the bounce back and surely we will able to earn much bigger, factom showing big potential to make a huge comeback.


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May 09, 2017, 07:47:16 PM
 #8399

i cant find fct on my exodus wallet..

It's not released yet. But the chances seem to be good that FCT will be included in the next Exodus-release.

If you've seen Screenshots: That was testing - I also was one of those who had the opportunity to test exodus with Factoids and it's great! Transactions in seconds btw.

That's great news for me! Since I cannot get the enterprise wallet to work... Im afraid Polo is will eat up all my Factoids.
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May 09, 2017, 07:49:46 PM
 #8400

Last chance to buy factom under 10$
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