[ANN] FACTOM - Introducing Honesty to Record-Keeping

[TomKoinify]

Pm sent. lets use escrow

I have 8k factoids I would be willing to sell. I would give you the whole koinify account. PM me if interested, we can use a escrow.

Koinify account ties with an e-mail and how do you manage that?

It not only ties to an email, it also ties to a single master pass phrase. Regardless, there will always be two people who have access to that account.

Your master pass phrase (which is your wallet) is derived from your password; you can change your password all you want, but the original owner will always also know the pass phrase to your wallet. You can not change that.

If he manages to put the master pass phrase into the Factom wallet before you do, you loose your tokens. We highly recommend everybody to wait it out, the tokens will all be redeemable at the same time when the chain goes live.

[Cornett]

Pm sent. lets use escrow

I have 8k factoids I would be willing to sell. I would give you the whole koinify account. PM me if interested, we can use a escrow.

Koinify account ties with an e-mail and how do you manage that?

It not only ties to an email, it also ties to a single master pass phrase. Regardless, there will always be two people who have access to that account.

Your master pass phrase (which is your wallet) is derived from your password; you can change your password all you want, but the original owner will always also know the pass phrase to your wallet. You can not change that.

If he manages to put the master pass phrase into the Factom wallet before you do, you loose your tokens. We highly recommend everybody to wait it out, the tokens will all be redeemable at the same time when the chain goes live.

So when the chain will go live ? June?

[bubbletea789]

@Cornett: Q3 according to the latest blog post. And yea it means after June.

[Cornett]

@Cornett: Q3 according to the latest blog post. And yea it means after June.

Thanks. Will be exciting summer time

[achow101]

Pm sent. lets use escrow

I have 8k factoids I would be willing to sell. I would give you the whole koinify account. PM me if interested, we can use a escrow.

Koinify account ties with an e-mail and how do you manage that?

It not only ties to an email, it also ties to a single master pass phrase. Regardless, there will always be two people who have access to that account.

Your master pass phrase (which is your wallet) is derived from your password; you can change your password all you want, but the original owner will always also know the pass phrase to your wallet. You can not change that.

If he manages to put the master pass phrase into the Factom wallet before you do, you loose your tokens. We highly recommend everybody to wait it out, the tokens will all be redeemable at the same time when the chain goes live.

Thank you for clarity answer. I will wait Koinify enable transferable.

[bitcoinrocks]

I'd like to know a bit more about the 32 federated servers.  How is the required "user support" obtained which allows someone to run one of the federated servers?  How often are the federated servers re-assigned?

Once the blockchain is live, are there any options for storing Factoids besides on an exchange or with the non-GUI wallet?

Can anyone help with this?

[FACTOM]

I'd like to know a bit more about the 32 federated servers.  How is the required "user support" obtained which allows someone to run one of the federated servers?  How often are the federated servers re-assigned?

Once the blockchain is live, are there any options for storing Factoids besides on an exchange or with the non-GUI wallet?

Can anyone help with this?

Federated servers will be appointed by user's vote. You can find more info about that on our Consensus Mechanism Paper: https://github.com/FactomProject/FactomDocs/raw/master/FactomLedgerbyConsensus.pdf

[coinking]

any word on exchanges to host factoids?

[Cornett]

any word on exchanges to host factoids?

Do not rush the things. Exchanges will place factoids approximately in Q3 (august-september)

[LockDown]

any word on exchanges to host factoids?

Do not rush the things. Exchanges will place factoids approximately in Q3 (august-september)

Can't wait to sell factoids.... Where can I sell it before Q3?

[mishax1]

any word on exchanges to host factoids?

Do not rush the things. Exchanges will place factoids approximately in Q3 (august-september)

Can't wait to sell factoids.... Where can I sell it before Q3?

I will buy some when koinify allows factoid withdrawals..

[coinking]

any word on exchanges to host factoids?

Do not rush the things. Exchanges will place factoids approximately in Q3 (august-september)

Cool, looking forward to seeing the development of this project!

[bitcoinrocks]

Aren't Factom tokens just Counterparty tokens?  If so, why can't they be released to the buyers right away?

[FACTOM]

Aren't Factom tokens just Counterparty tokens?  If so, why can't they be released to the buyers right away?

They are not Counterparty tokens. Users will be able to convert their Koinify purchases into Factoids on the Factom Network in Q3 when the wallet launches.

[bitcoinrocks]

Surely they are Counterparty tokens.  Koinify's platform is build on Counterparty.

[LockDown]

any word on exchanges to host factoids?

Do not rush the things. Exchanges will place factoids approximately in Q3 (august-september)

Can't wait to sell factoids.... Where can I sell it before Q3?

I will buy some when koinify allows factoid withdrawals..

Do you know when will Koinify allows the withdrawals? I have only 400 factoids I need to sell it so much.

[mishax1]

Surely they are Counterparty tokens.  Koinify's platform is build on Counterparty.

Currently they are only tokens, they don't have to be counterparty nor anything else..

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Do you know when will Koinify allows the withdrawals? I have only 400 factoids I need to sell it so much.

"Users will be able to convert their Koinify purchases into Factoids on the Factom Network in Q3 when the wallet launches."

[bitcoinrocks]

Surely they are Counterparty tokens.  Koinify's platform is build on Counterparty.

Currently they are only tokens, they don't have to be counterparty nor anything else..

If Koinify is just an opaque centralized service taking BTC and marking Factom balances in its own internal database, why is it built on top of Counterparty?

[coin@coin]

Surely they are Counterparty tokens.  Koinify's platform is build on Counterparty.

Currently they are only tokens, they don't have to be counterparty nor anything else..

If Koinify is just an opaque centralized service taking BTC and marking Factom balances in its own internal database, why is it built on top of Counterparty?

The fact they allow Counterparty tokens like Gems doesn't mean they are built on Counterparty.
In Factom's case they are like vouchers that specify how many Factoids you have bought which you will be able to import in your Factom wallet when live.

[bitcoinrocks]

Surely they are Counterparty tokens.  Koinify's platform is build on Counterparty.

Currently they are only tokens, they don't have to be counterparty nor anything else..

If Koinify is just an opaque centralized service taking BTC and marking Factom balances in its own internal database, why is it built on top of Counterparty?

The fact they allow Counterparty tokens like Gems doesn't mean they are built on Counterparty.
In Factom's case they are like vouchers that specify how many Factoids you have bought which you will be able to import in your Factom wallet when live.

Not that the author demonstrates any knowledge of "the Bitcoin" but here's an article which indicates that Koinify's tokens are Counterparty tokens:

http://technode.com/2014/07/31/launch-coin-like-boss-koinify/

the platform is built on Bitcoin / Counterparty which means your Koins are usable with any counterparty compatible wallet

More Importantly: So Koinify is simply a non-transparent centralized service that does not use blockchain technology to record the "vouchers" it marks in its database in exchange for BTC?