[ANN] FACTOM - Introducing Honesty to Record-Keeping

[crazyivan]

Total Factoids today: 8753715
With each passing day becomes less factoids.

Why less and no more than in other coins?

Every time the system is used, Factoids are converted into Entry Credits which means that they are out of the system. And until Milestone 3 there is no inflation.

And milestone 3 how much inflation it will bring?

10% of the initial amount per year, which will be approximately 73k per months.

Only we must also say that, about the same 73k factoids will be converted into Entry Credits every month, so we'll see constantly the total amount 8.5 -8.8 million factoids and inflation would actually be zero.

There s no change such a good project does not face constant increase in demand. With 0% inflation and increased demand, what s going to happen to the price?

[whiteorg72]

Total Factoids today: 8753715
With each passing day becomes less factoids.

Why less and no more than in other coins?

Every time the system is used, Factoids are converted into Entry Credits which means that they are out of the system. And until Milestone 3 there is no inflation.

And milestone 3 how much inflation it will bring?

10% of the initial amount per year, which will be approximately 73k per months.

Only we must also say that, about the same 73k factoids will be converted into Entry Credits every month, so we'll see constantly the total amount 8.5 -8.8 million factoids and inflation would actually be zero.

There s no change such a good project does not face constant increase in demand. With 0% inflation and increased demand, what s going to happen to the price?

For example, if Factom gets closely to Ethereum, we will see the cost 22 dollars per FCT coin. Perhaps even at the end of the year.
Although I said earlier (in November 2015) about 9-10 dollars per FCT coin before the end of the year. Time will tell.

[neo1947]

I see koinify is/has shut down and that it doesn't matter in regards to our presale buy. But, is there a GUI wallet ready? I never imported my 12 word phrase anywhere - or the coins safe in their original place forever? Or must I eventually import? I would rather not touch them for years.

To check your balance, or to see if you were one of the handful of people that had problems with the koinify purchase, run the keymaker app.  instructions here: http://factom.org/howto and here: https://github.com/FactomProject/keymaker

I would recommend keymaker to see if the 12 words work.  If they work in keymaker, you can hold them there like a paper wallet.

If you are impatient, you can create an account on poliniex and import the 12 words and all the factoids directly (unless you were one of the lucky handfull, which keymaker will tell you)

l still did not get an answer for above question, is our 12 word phrase safe next few years?
Regards

[Nxtblg]

I see koinify is/has shut down and that it doesn't matter in regards to our presale buy. But, is there a GUI wallet ready? I never imported my 12 word phrase anywhere - or the coins safe in their original place forever? Or must I eventually import? I would rather not touch them for years.

To check your balance, or to see if you were one of the handful of people that had problems with the koinify purchase, run the keymaker app.  instructions here: http://factom.org/howto and here: https://github.com/FactomProject/keymaker

I would recommend keymaker to see if the 12 words work.  If they work in keymaker, you can hold them there like a paper wallet.

If you are impatient, you can create an account on poliniex and import the 12 words and all the factoids directly (unless you were one of the lucky handfull, which keymaker will tell you)

l still did not get an answer for above question, is our 12 word phrase safe next few years?
Regards

It should be. Twelve random words from the Diceware word list goves more than 150 bits of entropy, or about the same as a password made up of 24 randomly-generated alphanumeric characters. According to the Keepass widget, that level of entropy is well within the green zone. There's no way that a genuinely random 12-word passphrase will be cracked over the next several years. 

[Newmba]

really interesting website there

[tempus]

Bitcoins and Gravy EP #76: Paul Snow talks Block Size, The Hearn Affair & Factom!
https://letstalkbitcoin.com/blog/post/episode-76-paul-snow-talks-block-size-the-hearnia-factom

[neo1947]

I see koinify is/has shut down and that it doesn't matter in regards to our presale buy. But, is there a GUI wallet ready? I never imported my 12 word phrase anywhere - or the coins safe in their original place forever? Or must I eventually import? I would rather not touch them for years.

To check your balance, or to see if you were one of the handful of people that had problems with the koinify purchase, run the keymaker app.  instructions here: http://factom.org/howto and here: https://github.com/FactomProject/keymaker

I would recommend keymaker to see if the 12 words work.  If they work in keymaker, you can hold them there like a paper wallet.

If you are impatient, you can create an account on poliniex and import the 12 words and all the factoids directly (unless you were one of the lucky handfull, which keymaker will tell you)

l still did not get an answer for above question, is our 12 word phrase safe next few years?
Regards

It should be. Twelve random words from the Diceware word list goves more than 150 bits of entropy, or about the same as a password made up of 24 randomly-generated alphanumeric characters. According to the Keepass widget, that level of entropy is well within the green zone. There's no way that a genuinely random 12-word passphrase will be cracked over the next several years. 

Thank you sir.

[whiteorg72]

Stupid idiot journalist Pete Rizzo  from Coindesk again wants to embarrass the Factom project because the Factom it does not pay for advertising.

Why Microsoft Wants ‘Every Blockchain’ on its Azure Platform
"...For example, in October, Microsoft chose to debut its BaaS service not with later partners like $32m bitcoin startup BitPay or recordkeeping service Factom (infamous for its now stalled but well-publicized "partnership" with Honduras), but with a then-relatively unknown distributed applications company called ConsenSys..."
http://www.coindesk.com/microsoft-blockchain-azure-marley-gray/

By the way about Honduras last year were quick to write journalists from Coindesk misunderstood Paul Snow and now constantly mention this, although Factom since that time a lot more about the achievements that they do not talk.
Again, there is the memory of Honduras and Coindesk thus says nothing about the Factom contracts in China. It is understood that this is done on purpose, and journalists from Coindesk constantly denigrate the fact of the project. Coindesk is an ugly site with stupid corrupt journalists!

[Drgmn]

keep cool. he just mentions Factom as one of the service providers for Microsofts new BaaS Service. Its not even bad news at all. If anything, its additional PR for Factom. Coindesk is the major news site in the crypto scene. Its good to be mentioned there. Even more since they link it in the article to this: http://www.coindesk.com/tag/factom/

[kslavik]

Is everything Ok with Factom network?

Explorer doesn't show any blocks for the past several hours and last several blocks are not anchored.

Transfers of FCT to Poloniex from multiple places like Bittrex and from yuanbaohui didn't go through either

How do I check incoming/outgoing transfers for a given address? Explorer doesn't show anything but the balance

[Drgmn]

what do you mean?

http://explorer.factom.org/

[tempus]

Is everything Ok with Factom network?

Explorer doesn't show any blocks for the past several hours and last several blocks are not anchored.

Transfers of FCT to Poloniex from multiple places like Bittrex and from yuanbaohui didn't go through either

How do I check incoming/outgoing transfers for a given address? Explorer doesn't show anything but the balance

2016-2-08

Factom is down for maintenance right now. It will be back up shortly.
http://factomstatus.com

[kslavik]

Is everything Ok with Factom network?

Explorer doesn't show any blocks for the past several hours and last several blocks are not anchored.

Transfers of FCT to Poloniex from multiple places like Bittrex and from yuanbaohui didn't go through either

How do I check incoming/outgoing transfers for a given address? Explorer doesn't show anything but the balance

2016-2-08

Factom is down for maintenance right now. It will be back up shortly.
http://factomstatus.com

Why was not this communicated to exchanges? They still didn't disable withdrawals.

[kslavik]

what do you mean?

http://explorer.factom.org/

How do you check a list of TXs for a given address there? When you search for a given address there, it doesn't return any info for this address but balance only - which is pretty useless in most of the cases.

[whiteorg72]

Now there are working on Factom Explorer, all defects corrected now before my eyes.
I think that all will soon be working fine. Do not panic

p.s. Total Factoids: 8753712 (today)
Factoids began to be used more quickly and out of the system

[neo1947]

interesting conversation about  Blockchain and Projects like Factom.

from 56 minutes.
https://www.youtube.com/watch?v=ZaH6dN1HbxM

 enjoy

[tempus]

Bitcoins and Gravy EP #76: Paul Snow talks Block Size, The Hearn Affair & Factom!
https://letstalkbitcoin.com/blog/post/episode-76-paul-snow-talks-block-size-the-hearnia-factom

Didn't have much time when I linked it but listened today, and it's one of the best and most interesting interviews of Paul Snow I've heard so far. So, recommendation for everybody and not just Factom-Investors, also those who are interested in the Blocksize-Debate.
And: There is also some entertainment-Factor besides education. ;-)

[whiteorg72]

When it is completed Milestone2? How much can you have to wait? I think that this year we will not see a working version Milestone2.
Project Ethereum and Factom were launched almost at the same time and look at how much better now looks like Ethereum, and developers The Factom alone make that correct their mistakes and do not see any finishing work on Milestone2. I stayed only a little more month before the end of the first quarter of 2016, when the developers Factom have promised to complete Milestone2 and I believe that they will not have time to finish it on time. Therefore, we do not see new information. Let the Factom developers may learn Ethereum developers how to work and to promote his project. Simply if we compare these two projects is how profesiionaly Ethereum  and students Factom. Factom developers while only disappoint.
It's a shame that the Factom so far behind the Ethereum

[MyFarm]

Wanna know where we need Factom BIG TIME?  Police video footage: https://www.reddit.com/r/news/comments/44z0jt/judge_bars_chicago_police_from_testifying_after/

[Drgmn]

I am quite satisfied with Factoms considerable progress, even though there were some unexpected moves in the chart. If you are disappointed just because another Alt is reaching its peak currently and you missed the train, then who stops you from buying ETH right now? Did you pay anything to the FCT devs? Does the FCT Team own chinese traders to make them any money? its not the Coin if you incur losses, its your poor trading skills.