[ANN] FACTOM - Introducing Honesty to Record-Keeping

[tempus]

They don't mention Factom, but what they say sounds like it. Would it be possible for Factom to handle that much data?


HSBC says the blockchain could be used for 'helicopter money'


(...)

HSBC outlines the trust problem with helicopter money — in short, people are rightly sceptical of a central bank's ability to work out how much help the economy actually needs. If it's too much, helicopter money could be wildly inflationary.

Here's how they think the blockchain could help with that:

If we move towards an economy where all transactions become recorded in real-time on a Blockchain type of technology, it will not be too dissimilar to the current eco-systems that many ecommerce giants have around the globe. Online e-commerce stores are able to give out loans to merchants without collateral, because they know all the flows already from the merchants’ point of view: from how much people are spending to the conversion rate of pages viewed to purchases. In the same way, a modernised monetary transmission system, based on real-time big data analysis through Blockchain, could allow the government to balance the economy more efficiently and systematically.

In short, the blockchain would allow the government to know a huge amount more about what's actually happening in the economy.

(...)

http://www.businessinsider.com/hsbc-says-the-blockchain-could-be-used-for-radical-central-bank-helicopter-money-policies-2015-11?r=UK&IR=T



Edit: Another Article about it from Coindesk

HSBC: Blockchain Tech Could Complement Central Bank Policies
http://www.coindesk.com/hsbc-central-banks-blockchain-economic-activity/

[whiteorg72]

Second day I have not opened of. site - www.factom.org. Just see blue color and the word "Loading" in center and nothing else. I wonder what's the problem? Maybe just go update site?
http://imgur.com/kVsiqE7

p.s. Found out what the problem is. The problem was in Google Chrome browser on website does not load. I tried through Tor, Safari and Mozilla to load properly.

[Jack Russell]

Second day I have not opened of. site - www.factom.org. Just see blue color and the word "Loading" in center and nothing else. I wonder what's the problem? Maybe just go update site?

It's working fine for me, ...at least now.  

@devs - what is ETA for a GUI?  Cheers.

[FACTOM]

Second day I have not opened of. site - www.factom.org. Just see blue color and the word "Loading" in center and nothing else. I wonder what's the problem? Maybe just go update site?

It's working fine for me, ...at least now.  

@devs - what is ETA for a GUI?  Cheers.

Not long GUI wallet should be out soon

[Cornett]

Second day I have not opened of. site - www.factom.org. Just see blue color and the word "Loading" in center and nothing else. I wonder what's the problem? Maybe just go update site?

It's working fine for me, ...at least now.  

@devs - what is ETA for a GUI?  Cheers.

Not long GUI wallet should be out soon

Wow. This is a great news!

[coinking]

Second day I have not opened of. site - www.factom.org. Just see blue color and the word "Loading" in center and nothing else. I wonder what's the problem? Maybe just go update site?

It's working fine for me, ...at least now.  

@devs - what is ETA for a GUI?  Cheers.

Not long GUI wallet should be out soon

Good news, I'm curious as to how it will function. How can we get Factom in The Economist again, this is getting some real traction behind it

[FACTOM]

We are thrilled to announce the release of the Factoid Wallet GUI.
The Factom blockchain is also counting over 10,000 blocks.

Read our latest Tech update for more info:

http://blog.factom.org/post/133104229319/technical-update-factoid-wallet-gui

[jadedjack]

Second day I have not opened of. site - www.factom.org. Just see blue color and the word "Loading" in center and nothing else. I wonder what's the problem? Maybe just go update site?
http://imgur.com/kVsiqE7

p.s. Found out what the problem is. The problem was in Google Chrome browser on website does not load. I tried through Tor, Safari and Mozilla to load properly.

firefox or chrome will not load the website factom.org for me.
windows internet explorer works.

I tried clearing the cache etc and it still did not load.

[whiteorg72]

Second day I have not opened of. site - www.factom.org. Just see blue color and the word "Loading" in center and nothing else. I wonder what's the problem? Maybe just go update site?
http://imgur.com/kVsiqE7

p.s. Found out what the problem is. The problem was in Google Chrome browser on website does not load. I tried through Tor, Safari and Mozilla to load properly.

firefox or chrome will not load the website factom.org for me.
windows internet explorer works.

I tried clearing the cache etc and it still did not load.

Mozilla Firefox load
Internet Explorer load
Safari load
Google Chrome not load

[whiteorg72]

Friday 13th is excellent date for release Factoid Wallet GUI

I just tested new gui wallet. Submitted 1 factoid from Polo exchange on my gui wallet. The transaction is reached in less than 2 minutes and factoid was enrolled in my wallet. Works great!  

Two transactions sent from my GUI wallet to Polo exchange. In both transactions have to wait 34 minutes to 3 passed necessary confirmations and coins have been credited on Polo exchange. Do not fast as expected, but the coins are credited properly.

Total size GUI wallet with database = 67 megabytes (today).

FACTOM,
I have a question for you.
How do I make a backup copy GUI wallet? Which files to copy for this purpose? Or me need to copy entire folder name " .factom" ?
Password for safety on wallet until can not add?
It would be good if in future versions GUI wallet was added 2-factor security.

[mishax1]

Could someone explain the use of this bitcoin address within factom ? How, who, and why..

https://www.blocktrail.com/BTC/address/1K2SXgApmo9uZoyahvsbSanpVWbzZWVVMF/transactions

[neo1947]

Second day I have not opened of. site - www.factom.org. Just see blue color and the word "Loading" in center and nothing else. I wonder what's the problem? Maybe just go update site?
http://imgur.com/kVsiqE7

p.s. Found out what the problem is. The problem was in Google Chrome browser on website does not load. I tried through Tor, Safari and Mozilla to load properly.

firefox or chrome will not load the website factom.org for me.
windows internet explorer works.

I tried clearing the cache etc and it still did not load.

Mozilla Firefox load
Internet Explorer load
Safari load
Google Chrome not load

l m chrome user,how to avoid this to happen?
Thanks

[neo1947]

Friday 13th is excellent date for release Factoid Wallet GUI

I just tested new gui wallet. Submitted 1 factoid from Polo exchange on my gui wallet. The transaction is reached in less than 2 minutes and factoid was enrolled in my wallet. Works great!  

Two transactions sent from my GUI wallet to Polo exchange. In both transactions have to wait 34 minutes to 3 passed necessary confirmations and coins have been credited on Polo exchange. Do not fast as expected, but the coins are credited properly.

Total size GUI wallet with database = 67 megabytes (today).

FACTOM,
I have a question for you.
How do I make a backup copy GUI wallet? Which files to copy for this purpose? Or me need to copy entire folder name " .factom" ?
Password for safety on wallet until can not add?
It would be good if in future versions GUI wallet was added 2-factor security.

hi
Can you tell me how to move Factoms from an exchange to GUI,how to create a receiving address?
Thanks

[BrianDeery]

whiteorg72:

make sure you keep a copy of the factoid_wallet_bolt.db in the .factom directory.   This is your wallet file. 

make multiple copies of it. 

It can deterministically generate addresses, but recovery from old backups is... inconvenient.  If you want to have an easy way to restore, make a backup after creating each new address.




mishax1:

1K2SXgApmo9uZoyahvsbSanpVWbzZWVVMF is the address from which anchors are being placed in the bitcoin blockchain.

It is to keep Factom from rewriting history. 

See http://explorer.factom.org/dblock/89d7a815c3ce8b676dad3111fb3a839e6218398802d559f7953bd5591b8d1999

89d7... is the block hash. 

in bitcoin transaction https://blockchain.info/tx/387a0b9c23d60ef1646bc1bda14452e0a9297cb7501860a947561a5801c36536

we see the op_return value of 46610000000028d889d7a815c3ce8b676dad3111fb3a839e6218398802d559f7953bd5591b8d199 9

which decodes to:

Fa
0x0000000028d8=10456 which is the block height of the factom directory block.
89d7a815c3ce8b676dad3111fb3a839e6218398802d559f7953bd5591b8d1999 = the directory block hash.

The federated servers are responsible for anchoring, and since we are before milestone 2, only 1 server is anchoring.



Loading...

Cloudflare seems to be uppity about some connections.  Binary download links are available here too:
https://github.com/FactomProject/FactomDocs/blob/master/developerSandboxSetup.md#install-factom-binaries

[mishax1]

mishax1:

1K2SXgApmo9uZoyahvsbSanpVWbzZWVVMF is the address from which anchors are being placed in the bitcoin blockchain.

It is to keep Factom from rewriting history. 

See http://explorer.factom.org/dblock/89d7a815c3ce8b676dad3111fb3a839e6218398802d559f7953bd5591b8d1999

89d7... is the block hash. 

in bitcoin transaction https://blockchain.info/tx/387a0b9c23d60ef1646bc1bda14452e0a9297cb7501860a947561a5801c36536

we see the op_return value of 46610000000028d889d7a815c3ce8b676dad3111fb3a839e6218398802d559f7953bd5591b8d199 9

which decodes to:

Fa
0x0000000028d8=10456 which is the block height of the factom directory block.
89d7a815c3ce8b676dad3111fb3a839e6218398802d559f7953bd5591b8d1999 = the directory block hash.

The federated servers are responsible for anchoring, and since we are before milestone 2, only 1 server is anchoring.

Thanks for the clear answer! 

[whiteorg72]

Friday 13th is excellent date for release Factoid Wallet GUI

I just tested new gui wallet. Submitted 1 factoid from Polo exchange on my gui wallet. The transaction is reached in less than 2 minutes and factoid was enrolled in my wallet. Works great!  

Two transactions sent from my GUI wallet to Polo exchange. In both transactions have to wait 34 minutes to 3 passed necessary confirmations and coins have been credited on Polo exchange. Do not fast as expected, but the coins are credited properly.

Total size GUI wallet with database = 67 megabytes (today).

FACTOM,
I have a question for you.
How do I make a backup copy GUI wallet? Which files to copy for this purpose? Or me need to copy entire folder name " .factom" ?
Password for safety on wallet until can not add?
It would be good if in future versions GUI wallet was added 2-factor security.

hi
Can you tell me how to move Factoms from an exchange to GUI,how to create a receiving address?
Thanks

Just create in GUI wallet new Factoid address and then a from Polo Exchange send him factoids.
But I would not now began to transfer many factoids on GUI wallet as it is in early beta version and there may be a variety of errors in its use, and you just might lose your factoids. You have to wait until normal working stable released version of the GUI wallet which will be eliminated all errors, if they occur during use and at work with whom you can not be afraid of losing their factoids.

Excerpt from the guide: "This is early beta software you should use this guide at your own risk, we suggest not to use large amount of factoids in case there may be issues and/or bugs."

How to work with GUI wallet here - http://factom.org/howto#collapse-1-2

Excerpt from the guide: "Click Help on the top right hand side to show descriptions of all options and functions available. Get familiar with the various buttons and their functionality."

[neo1947]

Friday 13th is excellent date for release Factoid Wallet GUI

I just tested new gui wallet. Submitted 1 factoid from Polo exchange on my gui wallet. The transaction is reached in less than 2 minutes and factoid was enrolled in my wallet. Works great!  

Two transactions sent from my GUI wallet to Polo exchange. In both transactions have to wait 34 minutes to 3 passed necessary confirmations and coins have been credited on Polo exchange. Do not fast as expected, but the coins are credited properly.

Total size GUI wallet with database = 67 megabytes (today).

FACTOM,
I have a question for you.
How do I make a backup copy GUI wallet? Which files to copy for this purpose? Or me need to copy entire folder name " .factom" ?
Password for safety on wallet until can not add?
It would be good if in future versions GUI wallet was added 2-factor security.

hi
Can you tell me how to move Factoms from an exchange to GUI,how to create a receiving address?
Thanks

Just create in GUI wallet new Factoid address and then a from Polo Exchange send him factoids.
But I would not now began to transfer many factoids on GUI wallet as it is in early beta version and there may be a variety of errors in its use, and you just might lose your factoids. You have to wait until normal working stable released version of the GUI wallet which will be eliminated all errors, if they occur during use and at work with whom you can not be afraid of losing their factoids.

Excerpt from the guide: "This is early beta software you should use this guide at your own risk, we suggest not to use large amount of factoids in case there may be issues and/or bugs."

How to work with GUI wallet here - http://factom.org/howto#collapse-1-2

Excerpt from the guide: "Click Help on the top right hand side to show descriptions of all options and functions available. Get familiar with the various buttons and their functionality."

Thank you very much for this clear explanation,l will wait for new full version of GUI l m not computer guy.
regards

[whiteorg72]

FACTOM,
please do in the next update GUI wallet make protection, encryption wallet, because without it would be impossible to for storage by its coins.
It would be nice if you would put the possibility to choose two-factor protection wallet.
In the future, I would like to storage and use the coins via GUI wallet, rather than relying on coins storage on Polo exchange.
At Polo exchanges were security problems last year - https://bitcointalk.org/index.php?topic=499580

p.s. Please tell me why so long are transactions from GUI wallet to Polo exchange? Sends three transactions and all of them were 30-40 minutes (3 confirmations).
I understand, for example, why in blockchain Bitcoin transactions are currently long as there is now every day comes a lot of transactions, but why here so long is unclear.
But the transaction from Polo exchange on GUI wallet takes only 2-3 minutes. Why such a big difference in time occurs?
Can you explain?

[FACTOM]

FACTOM,
please do in the next update GUI wallet make protection, encryption wallet, because without it would be impossible to for storage by its coins.
It would be nice if you would put the possibility to choose two-factor protection wallet.
In the future, I would like to storage and use the coins via GUI wallet, rather than relying on coins storage on Polo exchange.
At Polo exchanges were security problems last year - https://bitcointalk.org/index.php?topic=499580

p.s. Please tell me why so long are transactions from GUI wallet to Polo exchange? Sends three transactions and all of them were 30-40 minutes (3 confirmations).
I understand, for example, why in blockchain Bitcoin transactions are currently long as there is now every day comes a lot of transactions, but why here so long is unclear.
But the transaction from Polo exchange on GUI wallet takes only 2-3 minutes. Why such a big difference in time occurs?
Can you explain?

Transactions take up to 10 minutes on the Factom network it must be that Poloniex may take a little longer or are waiting for a number of confirmations before crediting Factoids to you address.

[BrianDeery]

Transactions will eventually take seconds, but for now, blocks are made every 10 minutes on the 10 minute mark.  Poloniex should take at least two confirmations, since the signatures for the Nth block come in block N+1.  

They probably wait for a longer time than that, or maybe even manually verify things.  Deposits into polo seem to take an erratic amount of time, indicating a manual process.