[ANN] FACTOM - Introducing Honesty to Record-Keeping

[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.

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?

Not sure what you mean by non-transparent though. It was a crowdfunding platform.
 
They have now stopped doing crowdsales on the current platform and are working on something new: https://koinify.com/blog/something-on-the-verge/

[bitcoinrocks]

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?

Not sure what you mean by non-transparent though. It was a crowdfunding platform.

Transparency is when you record something on a blockchain so everyone can verify that you've done what you say you've done.  Non-transparency is when you record something in your own internal database and expect everyone to trust you.

[coin@coin]

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?

Not sure what you mean by non-transparent though. It was a crowdfunding platform.

Transparency is when you record something on a blockchain so everyone can verify that you've done what you say you've done.  Non-transparency is when you record something in your own internal database and expect everyone to trust you.

For Factom everything was recorded on the blockchain using Op_return so I guess that fits your transparent definition.  

[animalroam]

Can't wait until Factom is released to the public .

[overthetop2011]

Can't wait until Factom is released to the public .

I think Factom would be a long term project...

where to check out the  News of updates of the project?

[FACTOM]

Can't wait until Factom is released to the public .

I think Factom would be a long term project...

where to check out the  News of updates of the project?

We release regular updates through our blog at http://blog.factom.org and our newsletter to which you can register at http://factom.org.
Also on Twitter at https://twitter.com/factomproject.

Thank you for the support. 

[WhoCaresCoins]

Can't wait until Factom is released to the public .

I think Factom would be a long term project...

where to check out the  News of updates of the project?

We release regular updates through our blog at http://blog.factom.org and our newsletter to which you can register at http://factom.org.
Also on Twitter at https://twitter.com/factomproject.

Thank you for the support. 

Finally 4 days past you just answered this question 

[coinking]

Can't wait until Factom is released to the public .

I think Factom would be a long term project...

where to check out the  News of updates of the project?

We release regular updates through our blog at http://blog.factom.org and our newsletter to which you can register at http://factom.org.
Also on Twitter at https://twitter.com/factomproject.

Thank you for the support.  

Finally 4 days past you just answered this question  

I'd say they're pretty busy unloading the project on the general public. The practical applications behind this are far greater than most people see. Looking forward to what's in store! Cheers guys and great work.

[CanaryInTheMine]

Can't wait until Factom is released to the public .

I think Factom would be a long term project...

where to check out the  News of updates of the project?

We release regular updates through our blog at http://blog.factom.org and our newsletter to which you can register at http://factom.org.
Also on Twitter at https://twitter.com/factomproject.

Thank you for the support. 

Finally 4 days past you just answered this question 

Don't be lazy! All info is out there... Google it

[WhoCaresCoins]

Can't wait until Factom is released to the public .

I think Factom would be a long term project...

where to check out the  News of updates of the project?

We release regular updates through our blog at http://blog.factom.org and our newsletter to which you can register at http://factom.org.
Also on Twitter at https://twitter.com/factomproject.

Thank you for the support. 

Finally 4 days past you just answered this question 

Don't be lazy! All info is out there... Google it

I don't lazy it's not my question!!!
I see FACTOM user online everyday but it's 4 days past they just answered it!!

[Cornett]

Can't wait until Factom is released to the public .

I think Factom would be a long term project...

where to check out the  News of updates of the project?

We release regular updates through our blog at http://blog.factom.org and our newsletter to which you can register at http://factom.org.
Also on Twitter at https://twitter.com/factomproject.

Thank you for the support.  

Finally 4 days past you just answered this question  

Don't be lazy! All info is out there... Google it

I don't lazy it's not my question!!!
I see FACTOM user online everyday but it's 4 days past they just answered it!!

4 days - it's pretty quick response. You have to be grateful for this at least.

[bitcoinrocks]

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?

Not sure what you mean by non-transparent though. It was a crowdfunding platform.

Transparency is when you record something on a blockchain so everyone can verify that you've done what you say you've done.  Non-transparency is when you record something in your own internal database and expect everyone to trust you.

For Factom everything was recorded on the blockchain using Op_return so I guess that fits your transparent definition.  

Koinify has recorded each investor's Factom balance on the BTC blockchain?  Can you show me an example?  I'm still puzzled as to why they didn't just issue Counterparty tokens.

[FACTOM]

Here is our latest Factom Core Developer Update:

http://blog.factom.org/post/121105395224/factom-core-developer-update-june-9th-2015

We have a myriad of channels and as mentioned before newsletter and blog + Twitter are the best places to follow us.

[FACTOM]

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?

Not sure what you mean by non-transparent though. It was a crowdfunding platform.

Transparency is when you record something on a blockchain so everyone can verify that you've done what you say you've done.  Non-transparency is when you record something in your own internal database and expect everyone to trust you.

For Factom everything was recorded on the blockchain using Op_return so I guess that fits your transparent definition.  

Koinify has recorded each investor's Factom balance on the BTC blockchain?  Can you show me an example?  I'm still puzzled as to why they didn't just issue Counterparty tokens.

Here is all the info you need: http://explorer.chain.com/addresses/35gLt5EgB367enjSjyEDahhWWcy6p1MGf6#!address-get

We didn't choose to do an XCP or Omni asset because there was no need. Factoids will have their own wallet.

[bitcoinrocks]

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?

Not sure what you mean by non-transparent though. It was a crowdfunding platform.

Transparency is when you record something on a blockchain so everyone can verify that you've done what you say you've done.  Non-transparency is when you record something in your own internal database and expect everyone to trust you.

For Factom everything was recorded on the blockchain using Op_return so I guess that fits your transparent definition.  

Koinify has recorded each investor's Factom balance on the BTC blockchain?  Can you show me an example?  I'm still puzzled as to why they didn't just issue Counterparty tokens.

Here is all the info you need: http://explorer.chain.com/addresses/35gLt5EgB367enjSjyEDahhWWcy6p1MGf6#!address-get

We didn't choose to do an XCP or Omni asset because there was no need. Factoids will have their own wallet.

Is a Factom balance visible at that address in the explorer?  I can't find it.

MaidSafe coins will have their own wallet too but they issued an Omni asset so investors could trade before the MaidSafe wallet and network are finalized.

[FACTOM]

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?

Not sure what you mean by non-transparent though. It was a crowdfunding platform.

Transparency is when you record something on a blockchain so everyone can verify that you've done what you say you've done.  Non-transparency is when you record something in your own internal database and expect everyone to trust you.

For Factom everything was recorded on the blockchain using Op_return so I guess that fits your transparent definition.  

Koinify has recorded each investor's Factom balance on the BTC blockchain?  Can you show me an example?  I'm still puzzled as to why they didn't just issue Counterparty tokens.

Here is all the info you need: http://explorer.chain.com/addresses/35gLt5EgB367enjSjyEDahhWWcy6p1MGf6#!address-get

We didn't choose to do an XCP or Omni asset because there was no need. Factoids will have their own wallet.

Is a Factom balance visible at that address in the explorer?  I can't find it.

MaidSafe coins will have their own wallet too but they issued an Omni asset so investors could trade before the MaidSafe wallet and network are finalized.

What is the issue here? When the wallet is live people will be able to import their Factoids.
Not sure why you are claiming we should have chosen a third party token? And why you think people is so in a rush to trade them.
You are possibly one of the few that has had any concerns regarding that.

It's not our priority to have Factoids being tradable, remember they are a token that gives you access to our software.
That is the main purpose of Factoids, to allow people to hash entries on the blockchain.

That said we will make sure to have them available on as many exchanges as possible to make it easy for people to buy and sell.
Trading will happen for people that wishes to do so once we are ready with the wallet which is not too far away.
Factoids are not a pump and dump coin, things should grow organically, got to give it time.

There are other things we are working on but rest assured having a wallet is our first milestone and are working hard to make that happen.

[bitcoinrocks]

I suppose I'm trying to understand the reasons not to issue a third-party token.

[FACTOM]

I suppose I'm trying to understand the reasons not to issue a third-party token.

Just need to be patient, if you have read our latest dev update it explains there when we expect the wallet to be ready.

 

[Nxtblg]

I suppose I'm trying to understand the reasons not to issue a third-party token.

Just need to be patient, if you have read our latest dev update it explains there when we expect the wallet to be ready.

I think it's because the Factom devs want to avoid the usual pump-and-dump games that go on around here, not to mention an ethical commitment about not letting it be traded while the product is still vapourware.

[Cornett]

I suppose I'm trying to understand the reasons not to issue a third-party token.

Just need to be patient, if you have read our latest dev update it explains there when we expect the wallet to be ready.

I think it's because the Factom devs want to avoid the usual pump-and-dump games that go on around here, not to mention an ethical commitment about not letting it be traded while the product is still vapourware.

Lol. Are you newbie? This serious devs don't care about any P'n'Dumps. Factom project has a huge venture investments and financial background. Developers are generally not interested in knowing factoid price at the markets, it's not make any sense. Factoids are like air for living of all Factom system and will have high value anyway