[ANN] FACTOM - Introducing Honesty to Record-Keeping

[PilotofBTC]

Looking at harvsmith's post history this is obviously a troll account.

FACTOMs troll following is pretty impressive. It's partly what keeps me interested in it.  

The bitcointalk troll squad only trolls projects that threaten them to some extent. There are a ton of real scammy projects but people don't even bother to troll. Factom is a legitimate project with legitimate goals and a team based in the US.  

AND dcxtx runs a legitimate service also based in the US.

I'm actually a fan and investor in Factom. My issue is with dcxtx's "service." I think it's disingenuous to charge 10x the ico price for FCT when it is not even listed. But this is crypto, right? Everyone is trying to pull a fast one, so it's OK. Also, being based in the US does not make something legitimate.

Hey Harvsmith,
  I am not sure how our price is disingenuous.  That is the price that we are willing to accept .  Was it also disingenuous for us to buy at higher than the ico price?  What is your definition of listed?  One exchange?  Three so it is not a monopoly?  We have a "service" where, after setting up an account, you send us bitcoin and ,at the price we have posted, we automatically send you back factoid.  I am sorry if that has offended your sensibilities.

dcxtx,

Don't mind these guys, they obviously don't understand how a free market works

See my point. Charging 10x for FCT was a huge ripoff. Back to ICO prices.

What we're you expecting to happen? $1, 2$, $50 after market listing?

No we were EXPECTING just this to happen. I'm not the only one that thought FCT had no reason to pull 10x ICO price with no usage or even the whole system being up and running.

[PilotofBTC]

Well this price sucks.
When it went to the exchange, I waited for a while to see which price it would be before I decided to send fct to the exchange or not. But then after waiting for like 20 minutes, no one sent fct there. So I decided to send fct to the exchange. I was the literally the first person to make fct sell orders on the exchange. I sold about 1 btc worth at 0.004 and 0.6 btc worth at 0.008.
Then a bunch of other people came rushing in to sell and they drove the price down to crap.
I feel disappointed.
Just gonna forget about this coin. I don't want to waste time following it anymore.

If you bought at ICO you made some great money on this. I'm not sure why you are disappointed if that's the case.

If the project is worth its salt the price will eventually catch up with the value.

[whiteorg72]

The winners will be those who can wait for when the project work.
It is foolish wait 6 months and to sell on the first day after the issuing of coins on exchange, unless the price reaches a minimum 10x size of ico.

[mishax1]

Well this price sucks.
When it went to the exchange, I waited for a while to see which price it would be before I decided to send fct to the exchange or not. But then after waiting for like 20 minutes, no one sent fct there. So I decided to send fct to the exchange. I was the literally the first person to make fct sell orders on the exchange. I sold about 1 btc worth at 0.004 and 0.6 btc worth at 0.008.
Then a bunch of other people came rushing in to sell and they drove the price down to crap.
I feel disappointed.
Just gonna forget about this coin. I don't want to waste time following it anymore.

It's not another useless altcoin project. but what ever.. goodbye.

[fox19891989]

Factom sold 1 million USD, and I just wonder what the IPO price of Factom, I don't think FCT will be a huge market and every IPO is for money, but not like Ethereum or maidsafe, factom is not amazing at all.

[ilostmyface]

Well this price sucks.
When it went to the exchange, I waited for a while to see which price it would be before I decided to send fct to the exchange or not. But then after waiting for like 20 minutes, no one sent fct there. So I decided to send fct to the exchange. I was the literally the first person to make fct sell orders on the exchange. I sold about 1 btc worth at 0.004 and 0.6 btc worth at 0.008.
Then a bunch of other people came rushing in to sell and they drove the price down to crap.
I feel disappointed.
Just gonna forget about this coin. I don't want to waste time following it anymore.

This is all to be expected with the opening of the markets.

I would advise taking your BTC to the casino if your purely looking for a chance at "Big Money".

[BrianDeery]

http://factomstatus.com/

[gambino]

How to run in full or server mode?
And is there a way to mine/produce/earn FCT?

[chesthing]

How to run in full or server mode?
And is there a way to mine/produce/earn FCT?

No, no free coins for you to dump on the exchange for lunch money.
Read instead of posting.

[BrianDeery]

It is indeed possible to run your own server.  It is a great way to prototype applications on top of Factom without risking any value. 

Here are the directions to run a Factom Sandbox server:

https://github.com/FactomProject/FactomDocs/blob/master/developerSandboxSetup.md

[dcxtx]

How to run in full or server mode?
And is there a way to mine/produce/earn FCT?

If you mean run an active miner for block rewards, not yet.  Factom has a server running without block reward.  when the full system of federated servers are up, then yes.  you can.  It is not quite as simple as run one and get block rewards, thre is a consensus process that detaermins who is a federated server and who is not (is an auditor i believe) 


Brian Deery?  Mostly Accurate?

[BrianDeery]

dcxtx:  
That is fairly close.

At this point there is no way to conjure factoids for running a server on your home machine.

[adhitthana]

Where can one buy Factom?

edit: all good I found Polo and strapped a few on, even though I know it will likely fall ...lol

[tobeaj2mer01]

Factom sold 1 million USD, and I just wonder what the IPO price of Factom, I don't think FCT will be a huge market and every IPO is for money, but not like Ethereum or maidsafe, factom is not amazing at all.

Not exactly, what you understand is wrong, Factom only sold 2200+ BTC in ICO phase(IPO price is from 50K to around 67 sat), but their company raised 1 million+ USD from VC. Do you know Factom will attend the blockchain meeting in China in 15th Oct, I guess they will get more VC in this meeting, let's wait and see.

Factom will do presentation as Ethereum/IBM/Swiss Bank/DDT ect...
http://www.hbrchina.org/150916/

[gambino]

How to run in full or server mode?
And is there a way to mine/produce/earn FCT?

No, no free coins for you to dump on the exchange for lunch money.
Read instead of posting.

Dear hater,
I'm not begging or asking for free coins. As I pay every month more than 900 EURO for electricity for my rigs, i don't think that the coins they produce are free. I was just asking about the way to produce FCT, because I saw in the site that there is a way!

[FACTOM]

Our latest Tech Update is out: latest binaries, developers sandbox, factoids on Poloniex and indexes + more.

Check out our blog at:

http://blog.factom.org/post/130751814839/technical-update-latest-binaries-v033

[fartbags]

How many new coins do these federated/centralized miners mine every day?

[fartbags]

How many new coins do these federated/centralized miners mine every day?

This new group of altcoin devs don't even know how to write the block time and block reward in the OP.

[bitcoinrocks]

How many new coins do these federated/centralized miners mine every day?

I believe the inflation rate is 20% the first year.

[fartbags]

How many new coins do these federated/centralized miners mine every day?

This new group of altcoin devs don't even know how to write the block time and block reward in the OP.

I believe the inflation rate is 20% the first year.

So maybe like 4798.17315068 factom a day. That's not much. Centralized mining does lower mining costs.

It would help if there was a block explorer. There is no block explorer posted in the OP either...