[ANN] FACTOM - Introducing Honesty to Record-Keeping

[bitChipper]

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.

I saw a member of a facebook group post pictures of his margin account after monero had its first huge run up, he had around 300 btc after selling around the new all time high. Granted this was back in 2016 so btc was alot less back then but  everyone was asking him "oh, how did you do it?" or "dang, you must be an awesome trader".....the guy responded pretty plainly with:

"I kept buying and stuck with a project that i knew was legit"

People always say you shouldn't fall in love or be emotionally attached to a project, but say that to the same person who just saw their coin that they have been buying and supporting for years go 100x....

Ya you can diversify all you want but the key to making massive amounts of bitcoin when trading alts is to have a lot of bitcoin into an altcoin before it goes parabolic (obviously) and then everyone else realizes..."Oh, ya that coin is legit, no wonder it's pumping so hard"...it's the long time supporters and hodlers that make the most when a coin goes parabolic....

As gruesome as it is right now for factom.....call me delusional if you want....I still think it has this parabolic potential.....even if not yall can suck it, the btc i put into fct when i bought it is worth so much more now that i break even anyway. 

[tempus]

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.

When I found Factom in 2015, right after it hit Poloniex, and did my first research I came to this conclusions (of course it was a bit more complex):

- The team can be trusted that they are hard workers with a lot of expertise and I had zero doubts they would just give it up
- The economical model is one of the best, actually it is the best, I've ever seen. That was a major aspect for me, because it shows how thoughtful they are
- If a good time keeps on progressing the "psychological market" will kick in at some point... more practical: Just patience is needed
- At the moment: Fundamental progress is obvious and from what I read there is not much known yet in regards of bigger partnerships but the team seems to show a lot of confidence.

Under the line: The price is much higher now than it was in 2015, but the principle hasn't changed in my opinion. It still makes sense to just be patient because the probability that this goes completely wrong is much lower than the opposite in my opinion.

[Flash86]

Whats going on with Factom? It was one of best Crypto projects in 2016 and I saw the price is very low.

I have not followed the project for a year, can you tell me what development is going on now and what is the next milestone.

[shixd8899]

I like this coin. Factom has another round of financing to raise funds for the expansion of the project and look forward to greater development. I added it to my collection.

[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.

When I found Factom in 2015, right after it hit Poloniex, and did my first research I came to this conclusions (of course it was a bit more complex):

- The team can be trusted that they are hard workers with a lot of expertise and I had zero doubts they would just give it up
- The economical model is one of the best, actually it is the best, I've ever seen. That was a major aspect for me, because it shows how thoughtful they are
- If a good time keeps on progressing the "psychological market" will kick in at some point... more practical: Just patience is needed
- At the moment: Fundamental progress is obvious and from what I read there is not much known yet in regards of bigger partnerships but the team seems to show a lot of confidence.

Under the line: The price is much higher now than it was in 2015, but the principle hasn't changed in my opinion. It still makes sense to just be patient because the probability that this goes completely wrong is much lower than the opposite in my opinion.

I have a lot of patience, I will keep FCTs up to my goals. I just stopped buying, decided to diversify my portfolio and not be tied to one project.

[tempus]

Recent Paul Snow Quote

"Come to Austin, we'll have some BBQ (or salad... It's a foodie town, and I'd eat anything) and I'll remind you over a beer (or some artisan water) why we are unique among crypto, show you where even big projects like hyperledger are trying to emulate what we are doing, and show you why we are still five steps ahead. Factom implemented segwit before segwit even was a term, and we did it in a massively more complete way. We addressed the decentralization issue with mining pools by simply buying our proof of work, and introduced the term "anchoring" to the space. In anchoring, we've figured out how to pay to build infrastructure with our rewards rather than paying utility bills. With m3 the community can now see the path for many companies to work to push the protocol. Develop new technolgy. Increase security. Address wallet issues, exchange issues, sponsor conferences, drive developer adoption. Finally I can say with confidence that it isn't about what I need to do, or Factom inc. needs to do, but what WE need to do. We have more resources, more players, and no boundaries. Our tech handles use cases that other blockchains can't address, but they don't have any use cases out of our reach. After all, computation is fundamentally about manipulating data by programs, which are themselves data. And we are data."
https://www.reddit.com/r/factom/comments/8kzmn7/recent_paul_snow_quote/

[mishax1]

Check out the market 20% sell off, a good indicator to go up.

[GröBkAz]

Hi guys, just been looking at the FCT chart, it's at a pretty good buy point right now, anything coming up apart from the hackathon? Updates etc?

[bitChipper]

Hi guys, just been looking at the FCT chart, it's at a pretty good buy point right now, anything coming up apart from the hackathon? Updates etc?

The chart does look really good, it's near lows and there is way more upside potential then downside.

Besides the hackathon, there are now 21 Authority nodes that will be operational in the coming months. These nodes are different then just regular DPOS or masternodes, most of them are small companies and teams of 2-5 people that were hand selected by Factom Inc and the community because of their experience and proposals to better the protocol.

So things could start moving really fast since their are essentially 21 groups of people working to get real world use of the protocol rather than the 1 factom inc company.

This doesn't mean its the best time to buy though, you know how these markets are.....respond to hype and other shit rather than tech. Good luck

[graysoon]

on factom's website we can also buy EC  for dollars . So , what is use of FCt now ? Because most people will like to pay in dollars

[trannguyen.22021999]

Hey guys. I'm interested in buying Factom. Seems like an interesting project. What's the best wallet (desktop or Android)  to use?

[tempus]

on factom's website we can also buy EC  for dollars . So , what is use of FCt now ? Because most people will like to pay in dollars

That's a feature and not a bug, because every time EC is bought for whatever currency it is created through a FCT-EC-conversion-transaction. Factoids become Entry Credits and those Factoids are burned. That has many advantages at once:

1. It connects the value of Factoids deeply with the usecase. The more Factom will be used, the more FCT's will be burned
2. Those who want to use Factom don't need to handle a cryptocurrency and can avoid potential regulatory problems
3. EC's have a fixed price, so that customers also don't need to be concerned about volatility. Purchases are predictable
4. EC's can not be transferred, only be used as "one-way-tickets" to use Factom.
5. That is also something like a natural security-layer, because EC's are not even interesting for hackers.

6. Theoretically it's possible that Factom-users buy EC's from everyone who holds FCT or has access to and wants to sell them or they buy FCT themselves first.

There is a good article about the two-token-system: https://factomize.com/the-genius-of-the-factom-two-token-system/

[tempus]

Hey guys. I'm interested in buying Factom. Seems like an interesting project. What's the best wallet (desktop or Android)  to use?

Actually I'm not aware if there already is another wallet than the one Factom developed. As far as I know it's planned to get FCT added on ledger but I don't know when that will happen. But the Factom wallet is a really good one.

Enterprise-Wallet: https://github.com/FactomProject/distribution (it's not necessary to download the binaries, just the Enterprise)
Documentation: https://docs.factom.com/#enterprise-wallet

Blog-Post about the Wallet: https://www.factom.com/blog/encrypted-enterprise-wallet

[cointopper]

Hello FACTOM believers,

Our aim is to add value to the whole crypto community by giving the best user experience to analyse cryptocurrencies.

It would be really great help from your side if you can spend 60 seconds of your time and give us your valuable feedback for our two recent updates 1) Snapshot and 2) Colourful interface of FACTOM at: https://cointopper.com/coin/factom

Constructive criticisms are always welcome at CoinTopper.  Thank you!!

[josetus000]

where can i buy the factom coins? and what is the price of this coins?

[tempus]

where can i buy the factom coins? and what is the price of this coins?

Most important infos (about nearly all listed projects) can be found here:
https://coinmarketcap.com


For Factom:
https://coinmarketcap.com/currencies/factom/

If you go on markets: https://coinmarketcap.com/currencies/factom/#markets

.... you can see on which exchanges it's listed.

[factoo3]

where can i buy the factom coins? and what is the price of this coins?

don't use poloniex!
You can not send fct to the exchange or withdraw from the exchange!
greetings

[muleroaa]

where can i buy the factom coins? and what is the price of this coins?

don't use poloniex!
You can not send fct to the exchange or withdraw from the exchange!
greetings

Are you certain about this? How long ago was this? I still was able to withdraw some Factom from Poloniex a few weeks ago, no problem at all.

[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.

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

This is so true. Almost in every single case you will see your funds being stuck or even stolen.

[tempus]

[Exclusive Interview] Factom CMO Jay Smith talks about 'Factomizing' the world and Roadmap Ahead

(...)

Our mission at Factom is to make the bits just as trustworthy as paper and, in fact, more trustworthy.

(...)

To support ICOs, we will need to upgrade the protocol to support the ability to define and track assets to encourage trading. This upgrade is on our roadmap. Our approach will allow new tokens to be defined, with their own behavior and to be born on an already fully distributed platform.

(...)

With Harmony, a junior Java programmer can wire the write to the blockchain into their existing system with no knowledge of blockchain.  Proof of Concepts goes from multi-month efforts to a few days.

(...)

Factom has built a platform that addresses the four challenges to widespread blockchain adoption.

• The blockchain is too slow - The Factom two token models solve the sharding problem which removes scaling as an issue.
  
• Blockchain cannot handle complex data - Because Factom is not limited to writing data into the memo field of a coin, multiple sub-chains and relationships can be built within the public blockchain.
• Blockchain does not have a predictable cost model - Because the two token Factom model divorces the primary business function, writing data, from the coin, Factom provides a consistent, predictable cost model.
• The blockchain is too hard to implement - The Factom Harmony SaaS model allows programmers without significant blockchain experience to wire in blockchain capabilities with simple REST API calls.

(...)

https://www.cryptoground.com/a/interview-with-factom-cmo-jay-smith