[ANN] FACTOM - Introducing Honesty to Record-Keeping

[tempus]

someone in the know why the purse is closed on Polonieks within a month?

No. The question was asked on Reddit and even Paul Snow doesn't understand it. He said:

Poloniex has disabled FCT, and put up that notice. There is no known issue on the protocol side that is blocking them.
https://www.reddit.com/r/factom/comments/8fsvpd/whats_up_with_poloniex_on_frequent_maintenance/


Would be good if many open a support ticket. Actually I'm surprised that it's not more of a topic. I personally don't use Polo anymore because I don't trust them anymore.

[tempus]

Factom launches Milestone 3: Fully Autonomous Protocol

By Courtney Roberts – Digital Communications Manager

Austin, TX (May 3, 2018) - Factom has been on a four year journey. A journey of discovery, challenges and monumental innovation. These years of work have culminated into the third and final milestone of the Factom Protocol, a fully distributed and autonomous blockchain protocol without any central control. 

This is the third and final milestone for the Factom Blockchain Protocol as outlined in the white paper. Using a distributed consensus model that combines elements of proof of stake, proof of usage and additional anchoring to provide proof of work. The Factom network is able to balance power within the system, disallowing people to gain 51% of power to then control the network. Factom began with the idea that unchangeable data and audit trails are the foundation for supporting the enterprise markets in the use of Blockchain technology.

The "Federated" version of the Factom network (previously known as "M2") was the second major version of the Factom open source software. The first version Factom "Genesis" has been live over 2 years since September 1, 2015. The Genesis version bootstrapped the Factom network with 1 Federated Server providing the anchors into Bitcoin, and anyone could run a node.

“I really need sleep,” said Paul Snow, CEO and Chief Architect of Factom. “Our team of developers have been working around the clock to make M3 happen and we’re thrilled M3 is finally a reality.”

M3 includes several protocol changes and a networking change. The full Factom Governance document can be found here.

About Factom, Inc.

Factom, Inc. is an Austin-based blockchain technology company that is on a mission to provide blockchain data provenance for complex industries. Factom specializes in building scalable blockchain technology to handle complex enterprise data and volume. With clients such as the U.S. Department of Homeland Security and the Bill and Melinda Gates Foundation, Factom is the recognized leader in providing blockchain solutions in order to preserve, ensure and validate digital assets. For information, please visit factom.com.

https://www.factom.com/blog/factom-launches-milestone-3-fully-autonomous-protocol

[factoo3]

hej tempus
i know you are a long time in factom.
what is your opinion about the inflation rate of 73k factoids a month?
Do you think we will see a reduction in price in the coming months?
I'm not sure what to do, had expected the price to be a little bit more after M3.
I also expected that the community would be much bigger now but there are not many people left.
I know that factom is a genius project, but as an investment point of view i do not know if it will still be when those 73k factoids come on the market.
I also think that companies will not come out with news soon because why would they?
And if the NDA 's expires factom also will not bring out companys out of respect, I think.
So what remains to look forward for the coming months?
My wife says stay in factom
In any case, factom has given me much more confidence than neucoin has ever done hahaha.
So how do you expect it to go in the coming months?
greetings

[muleroaa]

Factom launches Milestone 3: Fully Autonomous Protocol

By Courtney Roberts – Digital Communications Manager

Austin, TX (May 3, 2018) - Factom has been on a four year journey. A journey of discovery, challenges and monumental innovation. These years of work have culminated into the third and final milestone of the Factom Protocol, a fully distributed and autonomous blockchain protocol without any central control. 

This is the third and final milestone for the Factom Blockchain Protocol as outlined in the white paper. Using a distributed consensus model that combines elements of proof of stake, proof of usage and additional anchoring to provide proof of work. The Factom network is able to balance power within the system, disallowing people to gain 51% of power to then control the network. Factom began with the idea that unchangeable data and audit trails are the foundation for supporting the enterprise markets in the use of Blockchain technology.

The "Federated" version of the Factom network (previously known as "M2") was the second major version of the Factom open source software. The first version Factom "Genesis" has been live over 2 years since September 1, 2015. The Genesis version bootstrapped the Factom network with 1 Federated Server providing the anchors into Bitcoin, and anyone could run a node.

“I really need sleep,” said Paul Snow, CEO and Chief Architect of Factom. “Our team of developers have been working around the clock to make M3 happen and we’re thrilled M3 is finally a reality.”

M3 includes several protocol changes and a networking change. The full Factom Governance document can be found here.

About Factom, Inc.

Factom, Inc. is an Austin-based blockchain technology company that is on a mission to provide blockchain data provenance for complex industries. Factom specializes in building scalable blockchain technology to handle complex enterprise data and volume. With clients such as the U.S. Department of Homeland Security and the Bill and Melinda Gates Foundation, Factom is the recognized leader in providing blockchain solutions in order to preserve, ensure and validate digital assets. For information, please visit factom.com.

https://www.factom.com/blog/factom-launches-milestone-3-fully-autonomous-protocol

And there we are, awesome! Finally on to the next stage. Interested to see what the impact of M3 will be, technically and market wise.

[tempus]

hej tempus
i know you are a long time in factom.
what is your opinion about the inflation rate of 73k factoids a month?
Do you think we will see a reduction in price in the coming months?
I'm not sure what to do, had expected the price to be a little bit more after M3.
I also expected that the community would be much bigger now but there are not many people left.
I know that factom is a genius project, but as an investment point of view i do not know if it will still be when those 73k factoids come on the market.
I also think that companies will not come out with news soon because why would they?
And if the NDA 's expires factom also will not bring out companys out of respect, I think.
So what remains to look forward for the coming months?
My wife says stay in factom
In any case, factom has given me much more confidence than neucoin has ever done hahaha.
So how do you expect it to go in the coming months?
greetings

Hi factoo3!

You know me because of my rants against Neucoin? ;-)

Regarding your questions: No, I don't believe that the inflation that starts with M3 will have much if any negative effect on the price, because 1) in comparison to many other projects the inflation rate is not that high. 2) M3 is a big step and progress in the Factom-history and a base for much more. 

I should say that I'm not so good informed anymore like I was in 2016 etc. because I didn't have that much time. But my view on Factom didn't change. I still see this project as one of the best thought out and most practicable use-cases in the whole space and I have trust in the team behind. Many are probably a bit disappointed because they hoped for higher price steps and bigger announcements (partnerships) and that is understandable. But my perspective on this is different because the comparison to other projects that have times of huge hypes can be very misleading. It needs a second look on the reasons why projects and their token price hyped. Usually that is not because of real usage and fundamental progress. It really is more about hype. People buy what they believe others will buy, so they care most about those projects that manage to get a lot of attention IN Crypto. Factom didn't even try to hype in Crypto. Ethereum as example: The number one usecase in 2017 was about ERC20-ICO's and a huge majority of those projects on Ethereum will probably fail. Ethereum itself has problems when it's about scalability - their number 2 Cryptokittie-Use-case made that even more obvious.

What I mean by that: The Factom-guys didn't deliver any fancy stuff and they didn't do any marketing but they've worked on scalability and decentralization and also security is very strong - all of the most important aspects of Blockchain-Development and I have no doubt, that will have impact and will bring real usage. The price will react on partnerships and exchange listings etc. and M3 is the base for that. Even better exchange listings could come in combination with real usage, because exchanges could use Factom to make the own service more trustworthy.

What I find fascinating are all the paradoxes. A lot of what usual Crypto-Guys recognize as weaknesses are strengths in my opinion. The usecase for example. It's kind of simple, doesn't get that much attention like "smart contracts" or "ICO-platform" or whatever. But: It makes everything possible. Everything can be built on Factom and because of their economical model with two tokens, while the "entry-token" is no Cryptocurrency and prices can be fix and calculable, the barriers to use it are much lower compared to other projects.


What I believe is the number 1 question when we focus on the price of the token: Partnerships. It seems that they have several candidates but that is all under NDA. That there wasn't an announcement yet is not a negative sign in my opinion because until now it's only rational to consider all of that as tests. But I would be very surprised if there wouldn't be some big announcements in the coming months.

[Big Naturals]

Is Factom proof of stake, can I earn some interest by staking my coins?

[Ferdo]

Is Factom proof of stake, can I earn some interest by staking my coins?

Nope

[skybot13x]

As usual in these days most of the ICOs are scam , they take investment and after that scam the people but few of them get successful , so it is much better to get free tocken from every airdrop without seeing whether you will get something or nothing .

What you describe is exactly the same in the traditional venture capital space. Only few projects become successful. Does that make any other unsuccessful project a scam? Probably not.

[tedmorning]

Getting place! Maybe I will invest! looks crazy!

[bitChipper]

hej tempus
i know you are a long time in factom.
what is your opinion about the inflation rate of 73k factoids a month?
Do you think we will see a reduction in price in the coming months?
I'm not sure what to do, had expected the price to be a little bit more after M3.
I also expected that the community would be much bigger now but there are not many people left.
I know that factom is a genius project, but as an investment point of view i do not know if it will still be when those 73k factoids come on the market.
I also think that companies will not come out with news soon because why would they?
And if the NDA 's expires factom also will not bring out companys out of respect, I think.
So what remains to look forward for the coming months?
My wife says stay in factom
In any case, factom has given me much more confidence than neucoin has ever done hahaha.
So how do you expect it to go in the coming months?
greetings

Hi factoo3!

You know me because of my rants against Neucoin? ;-)

Regarding your questions: No, I don't believe that the inflation that starts with M3 will have much if any negative effect on the price, because 1) in comparison to many other projects the inflation rate is not that high. 2) M3 is a big step and progress in the Factom-history and a base for much more.  
 

73k factoids created per month between 21 nodes, these are companies and groups running these nodes...people have to get paid.

Of course it will have an effect on price, they will be selling off these coins...

Things really not looking good for the price of FCT in 2018

In one year factom went from #18 on coin market cap to #97 

[tempus]

hej tempus
i know you are a long time in factom.
what is your opinion about the inflation rate of 73k factoids a month?
Do you think we will see a reduction in price in the coming months?
I'm not sure what to do, had expected the price to be a little bit more after M3.
I also expected that the community would be much bigger now but there are not many people left.
I know that factom is a genius project, but as an investment point of view i do not know if it will still be when those 73k factoids come on the market.
I also think that companies will not come out with news soon because why would they?
And if the NDA 's expires factom also will not bring out companys out of respect, I think.
So what remains to look forward for the coming months?
My wife says stay in factom
In any case, factom has given me much more confidence than neucoin has ever done hahaha.
So how do you expect it to go in the coming months?
greetings

Hi factoo3!

You know me because of my rants against Neucoin? ;-)

Regarding your questions: No, I don't believe that the inflation that starts with M3 will have much if any negative effect on the price, because 1) in comparison to many other projects the inflation rate is not that high. 2) M3 is a big step and progress in the Factom-history and a base for much more.  
 

73k factoids created per month between 21 nodes, these are companies and groups running these nodes...people have to get paid.

Of course it will have an effect on price, they will be selling off these coins...

Things really not looking good for the price of FCT in 2018

In one year factom went from #18 on coin market cap to #97  

What is bad for the price is not that much the inflation which is not high at all compared to other projects. It's silence what is bad for the price, disappointment because people believed that M3 would also bring some bigger announcements. That did not happen yet, besides the FPT-partnership.

That's why the case is simple in my opinion: If there will be bigger announcements the price will surely react on that. If not it will react as well and yes, inflation would not be helpful in such a scenario of course.

[bitChipper]

Well one of the things to remember is that there are now 21 nodes ran by companies and groups of people that were chosen by factom inc because of what they can bring to the protocol or what use they can bring to it

So now instead of it only being Factom Inc trying to bring use to the protocol it will be alot more, I think what DChapman has done with Factomize is a great example.

Authority nodes will have a big incentive to bring use to the protocol and get more factoids burned since they are getting paid in factom to run their nodes.

I think that alot of people (myself included) were thinking M3 would be a big "finishing" event, when really it was just a pivot or turn in the direction of the project.

Why no price action?.....IMO its just because there are zero speculators....maybe the only way the factoid will ever see price action is because of real factoids being burned for real world use.

[factoo3]

Thanks tempus for your time.
Was just curious about your opinion.
At this point I am almost hoping that there will be a mega crash so I can buy more.
Strange world crypto.....hoping for a mega crash......
But ye I think probably sooner a crash than a rise.
Good luck everybody😁

[MrSunshine]

Thanks tempus for your time.
Was just curious about your opinion.
At this point I am almost hoping that there will be a mega crash so I can buy more.
Strange world crypto.....hoping for a mega crash......
But ye I think probably sooner a crash than a rise.
Good luck everybody😁

A mega crash will occur some day, but likely from much higher valuations. The dip into early April was quite substantial, and was a good buying opportunity. Consensus is coming up and prices will likely rise.

[Ferdo]

Anybody using arbitrage opportunities on BCEX? Are deposits/withdrawals enabled?

[bitChipper]

Anybody using arbitrage opportunities on BCEX? Are deposits/withdrawals enabled?

I dont think so, but that exchange is really bringing down the avg on cmc

[skybot13x]

Anybody using arbitrage opportunities on BCEX? Are deposits/withdrawals enabled?

I dont think so, but that exchange is really bringing down the avg on cmc

I would always be careful with arbitrage opportunities, just saying. Sometimes there really is arbitrage opportunity, but often sometimes there are problems involved like wallets in maintenance on exchanges or a stuck blockchain or whatever. Make sure there is no severe problem before you start transferring large amounts to exploit arbitrage opportunities.

[bitChipper]

Anybody using arbitrage opportunities on BCEX? Are deposits/withdrawals enabled?

I dont think so, but that exchange is really bringing down the avg on cmc

I would always be careful with arbitrage opportunities, just saying. Sometimes there really is arbitrage opportunity, but often sometimes there are problems involved like wallets in maintenance on exchanges or a stuck blockchain or whatever. Make sure there is no severe problem before you start transferring large amounts to exploit arbitrage opportunities.

Polo has been down for months anyways, I also would be cautious about arbitrage, especially on newer less trusted asian exchanges.

[monarx911@i.ua]

the team must start taking marketing measures, people buy shit without knowing anything about the factom, FCT it is a coin of the gods!

[faragly]

the team must start taking marketing measures, people buy shit without knowing anything about the factom, FCT it is a coin of the gods!

You strongly believe in this project. In my experience, I realized that you can not fall in love with the project, otherwise sanity is lost.