[ANN] FACTOM - Introducing Honesty to Record-Keeping

[whiteorg72]

How do I withdraw my factoid from koinify? I cant see any send field in the wallet tab

https://bitcointalk.org/index.php?topic=850070.msg12644190#msg12644190

[mishax1]

You sound like you're running to mommy for help only because of a few incompetent traders.. 

They are providing a working product, a useful product.

I would like to remind you that most of the buyers didn't touch their factoids..

[whiteorg72]

And if you look to the marketing side, it will be  than the more cost factoid, then the higher the coin will be in the ranking coinmarketcap, which means it is more credible to the coin, and the company that supports it on the part of current and future investors. So the founders of the project should take care of that factoid no drops to 0. Otherwise, why bother if it was to produce a coin, only to raise money for the first stage. This is bad. Factoid - face the project.

p.s. Sorry my bad english

[mishax1]

So much bullshit from what seems to be a few 12y old newbs..

[adhitthana]

Forget conspiracy theories. Let the market tell you what to do. All is well. The market will let you know

[Bagatell]

Factoms fan club has been discussed previously.

https://bitcointalk.org/index.php?topic=850070.msg12587459#msg12587459

[dcxtx]

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?

I expect Factoids to settle out closer to $1 when new of the first sizable project integration starts to make the news.  I hope that happens before the end of the year.  This month would be great.   Right now, factoids are cheap.  If you are involved in a project that will need entry credits and you did not participate in the ICO, now is the time to buy.  While my sell price may have made you mad, you may have noticed that my buy price was also a multiple of the ICO price also.  My timing may have been off, but I am not going to lose money on the ones I purchased.

[MsCollec]

How do I withdraw my factoid from koinify? I cant see any send field in the wallet tab

https://bitcointalk.org/index.php?topic=850070.msg12644190#msg12644190

Thanks, now if i can remember how much was the presale price 1 FCT/BTC

[whiteorg72]

How do I withdraw my factoid from koinify? I cant see any send field in the wallet tab

https://bitcointalk.org/index.php?topic=850070.msg12644190#msg12644190

Thanks, now if i can remember how much was the presale price 1 FCT/BTC

2000-1500 FCT = 1BTC (average 0,0005 FCT/BTC)

[Portabello75]

How do I withdraw my factoid from koinify? I cant see any send field in the wallet tab

https://bitcointalk.org/index.php?topic=850070.msg12644190#msg12644190

Thanks, now if i can remember how much was the presale price 1 FCT/BTC

2000-1500 FCT = 1BTC (average 0,0005 FCT/BTC)

Going to be a wild ride soon in FTC. Larger buyers are trying to slowly vacuum the market around these prices. Big news on the way.

[nakaone]

How do I withdraw my factoid from koinify? I cant see any send field in the wallet tab

https://bitcointalk.org/index.php?topic=850070.msg12644190#msg12644190

Thanks, now if i can remember how much was the presale price 1 FCT/BTC

2000-1500 FCT = 1BTC (average 0,0005 FCT/BTC)

Going to be a wild ride soon in FTC. Larger buyers are trying to slowly vacuum the market around these prices. Big news on the way.

care to elaborate or just pumping?

[mitache365]

How do I withdraw my factoid from koinify? I cant see any send field in the wallet tab

https://bitcointalk.org/index.php?topic=850070.msg12644190#msg12644190

Thanks, now if i can remember how much was the presale price 1 FCT/BTC

2000-1500 FCT = 1BTC (average 0,0005 FCT/BTC)

And it stopped at the presale price. That's a good sign!

[sloper]

So anybody have ideas on how different use-cases may warrant different entry frequencies?
Or, is everybody assuming most factom users will put in an entry every 10min.

6 entries/hr * 24 hr/day = 144 entries/day

vs a utilization rate of 1 entry/day is a drastic difference in uptake of factoids.

Would a title registration company really have a need to update every 10 min?
Even if you were proving the starting timestamp of a patent idea, artwork, or whatever, I'm trying to understand why I'd need anything more than 1 entry/day.


What are people's thoughts and expectations on this?
The only counter I can think of is that even 144 entries/day is only $14.40, which is not a whole lot for proving honesty and goodwill--yet still comes off to me as somewhat overkill. 

[dcxtx]

So anybody have ideas on how different use-cases may warrant different entry frequencies?
Or, is everybody assuming most factom users will put in an entry every 10min.

6 entries/hr * 24 hr/day = 144 entries/day

vs a utilization rate of 1 entry/day is a drastic difference in uptake of factoids.

Would a title registration company really have a need to update every 10 min?
Even if you were proving the starting timestamp of a patent idea, artwork, or whatever, I'm trying to understand why I'd need anything more than 1 entry/day.


What are people's thoughts and expectations on this?
The only counter I can think of is that even 144 entries/day is only $14.40, which is not a whole lot for proving honesty and goodwill--yet still comes off to me as somewhat overkill.  

This is imprecise , but at a high level... (anyone, feel free to correct it)

Lets say to go to closing.  You have the closing document, the lead based paint disclosure, your loan agreement, the etc.  Lets say there are 16 documents.  The title company puts 16 document entries in, all related in a factom chain.  Two years later some question comes up.  The title company produces 14 documents.  You can look at that and say, you are missing two documents.... and that loan document is not the original.  I may not know what the original loan document was, but that ain't it.   Factom does one entry into the bitcoin blockchain (all 16 were in the same 10 minutes).  The closing may have had 16 entries into factom...or a million...or 1.

[tempus]

So anybody have ideas on how different use-cases may warrant different entry frequencies?
Or, is everybody assuming most factom users will put in an entry every 10min.

6 entries/hr * 24 hr/day = 144 entries/day

vs a utilization rate of 1 entry/day is a drastic difference in uptake of factoids.

Would a title registration company really have a need to update every 10 min?
Even if you were proving the starting timestamp of a patent idea, artwork, or whatever, I'm trying to understand why I'd need anything more than 1 entry/day.


What are people's thoughts and expectations on this?
The only counter I can think of is that even 144 entries/day is only $14.40, which is not a whole lot for proving honesty and goodwill--yet still comes off to me as somewhat overkill. 

As far as I understand it's about the volume. 1 KB = 1 entry-credit = let's say $0,001

A file: let's say 200 kb = 200 entry credits = $0.20

That's wouldn't be much... But most of all files have much more volume. And think of a hospital and than think of 10 hospitals, other companies, thousands or even millions of private persons with personal stuff. Some little girls who like it to write a diary. Some pensioners who write testaments. Authors of books, or journalists etc. The potential demand is really everywhere. Or just think of important emails. Maybe there will be an entire e-mail-system about factom.



The thing about this project is: It doesn't look that "sexy" on first sight, but the idea really has huge potential.

For me there are two relevant questions:

- will they be able to realize it that way?
- will there be others who make it better and/or cheaper?


If they will realize what they've planned, without hard setbacks, and if they're on top of this technology, there will be demand and it will be used. I have no doubt about that. And there is also a lot of potential for a lot of other features. In best case there will be other Devs who will build applications on top of it. Maybe, just a little idea: Screenshots... proof about existence and time included. Or maybe a photo-app for a cellphone. You make a photo and it would be instantly signed by Factom "as it is" and who it made and when it was made. No more doubt about photoshop and so on. There would be proof about it that it's no fake in any way.

I don't know much about coding etc., but I believe that there really is a lot of potential in the base-idea and that there is a lot of potential in possible innovations that could be build on top of it. And theoretically it could have use for nearly everybody.

Privatpersons and companies, banks or even governments. I doubt they want it, because it's part of their "business-model" to lose files or change or fake them, but maybe... "honesty is subversive" ;-)

[sulfurtank]

Volume likely bears to zero. Tomorrow will drop below 1 BTC perhaps. Notably, roadmap says the network of federated servers should have been rolled out by the end of q3 but from what im seeing there is only one 1 out of 8 servers so far. P2p consensus mechanism is expected to be revealed in q4, between oct and dec. They have less than 70 days till the end of the year to fulfill their promises on those two milestones. What if they gonna prolong their development till march or may, 2016 or beyond that? If so, it won't save the price, only extend the dying process cause there seem not to be any deep pockets supporting the price, look at the buy side, twin 20K dump could get it below 36K in a wink of an eye. Smells fishy to me, large team of coders, advisers and marketing gurus behind this coin, and nobody's worried about the price.

[AlanX]

Volume likely bears to zero. Tomorrow will drop below 1 BTC perhaps. Notably, roadmap says the network of federated servers should have been rolled out by the end of q3 but from what im seeing there is only one 1 out of 8 servers so far. P2p consensus mechanism is expected to be revealed in q4, between oct and dec. They have less than 70 days till the end of the year to fulfill their promises on those two milestones. What if they gonna prolong their development till march or may, 2016 or beyond that? If so, it won't save the price, only extend the dying process cause there seem not to be any deep pockets supporting the price, look at the buy side, twin 20K dump could get it below 36K in a wink of an eye. Smells fishy to me, large team of coders, advisers and marketing gurus behind this coin, and nobody's worried about the price.

Our timelines have slipped.   Some tasks have turned out to be harder than expected.  Working on the consensus mechanism now.  Still optimistic we can come close to our deadlines.

The price of Factoids will recover with the introduction of applications running on the protocol.  We are a small team, but we are working hard to bring applications onto the blockchain.   Then as applications need entry credits, factoids get converted to entry credits, and leave the system.  The servers will be paid in Factoids, but only after the full system is up and running.  That means that until the full system is up and running, applications will drain the supply of Factom, and help the price.

The conversion of Factoids to Entry Credits is to be set to hold an Entry Credit around 0.1 cents USD.  We have not adjusted the exchange rate yet, but will be doing so I think on Friday.  From that point on, we will follow a procedure for maintaining the exchange rate.   If the value of Factoids continues to fall, more factoids will be required to use the protocol, and more factoids will be drained from the supply.   This should stabilize the price so that the value of Factoids reflects the value of the protocol.

[raithe]

Is this email legitimate?  I have had a few friends receive it, and we did promote their crowdfund in the past, although it seems a bit sketchy.

[MaGNeT]

Volume likely bears to zero. Tomorrow will drop below 1 BTC perhaps. Notably, roadmap says the network of federated servers should have been rolled out by the end of q3 but from what im seeing there is only one 1 out of 8 servers so far. P2p consensus mechanism is expected to be revealed in q4, between oct and dec. They have less than 70 days till the end of the year to fulfill their promises on those two milestones. What if they gonna prolong their development till march or may, 2016 or beyond that? If so, it won't save the price, only extend the dying process cause there seem not to be any deep pockets supporting the price, look at the buy side, twin 20K dump could get it below 36K in a wink of an eye. Smells fishy to me, large team of coders, advisers and marketing gurus behind this coin, and nobody's worried about the price.

I'm not worried about price, only worried about development.
And that's what they're working on. It's the end result that counts. Coding is always based on the Pareto principle...

[richwang01]

Volume likely bears to zero. Tomorrow will drop below 1 BTC perhaps. Notably, roadmap says the network of federated servers should have been rolled out by the end of q3 but from what im seeing there is only one 1 out of 8 servers so far. P2p consensus mechanism is expected to be revealed in q4, between oct and dec. They have less than 70 days till the end of the year to fulfill their promises on those two milestones. What if they gonna prolong their development till march or may, 2016 or beyond that? If so, it won't save the price, only extend the dying process cause there seem not to be any deep pockets supporting the price, look at the buy side, twin 20K dump could get it below 36K in a wink of an eye. Smells fishy to me, large team of coders, advisers and marketing gurus behind this coin, and nobody's worried about the price.

Our timelines have slipped.   Some tasks have turned out to be harder than expected.  Working on the consensus mechanism now.  Still optimistic we can come close to our deadlines.

The price of Factoids will recover with the introduction of applications running on the protocol.  We are a small team, but we are working hard to bring applications onto the blockchain.   Then as applications need entry credits, factoids get converted to entry credits, and leave the system.  The servers will be paid in Factoids, but only after the full system is up and running.  That means that until the full system is up and running, applications will drain the supply of Factom, and help the price.

The conversion of Factoids to Entry Credits is to be set to hold an Entry Credit around 0.1 cents USD.  We have not adjusted the exchange rate yet, but will be doing so I think on Friday.  From that point on, we will follow a procedure for maintaining the exchange rate.   If the value of Factoids continues to fall, more factoids will be required to use the protocol, and more factoids will be drained from the supply.   This should stabilize the price so that the value of Factoids reflects the value of the protocol.

Oh, man

Investors gave you 6000+ BTC totally, If you really want to help the price, please take a little of them(e.g. 600 BTC) to do price thing like buy back some FCT etc, you believe in your project, correct?  Moreover, price going up will attract more investors and be eye-catching, it will help to build more stronger Factom ecosystem and community on the contrary, influence is power, this is how crypto currency price working at the current stage,  does it make sense?

But the most important thing is the business, if  a real company or government uses Factom, it will be a very big news! I believe Factom is/has been already contacting with some potential customers like Honduras.

Please take my suggestions seriously, I hope and believe Factom has a good future.