[ANN] FACTOM - Introducing Honesty to Record-Keeping

[crazyivan]

The main difference between Ether and Factor is Ether PoW. Everyone with any kind of decent GPU s mining Ether now which increases user base which also buys, sells or trades Ether.

Apart from that, both coins still have a lot of to deliver and I think Factom is on the right track.

Patience my friends, nothings gets build over night.

BTW, I m not so sure Ether so overpriced. If they do go PoS this summer, this will significantly reduce their daily supply.

Interesting times ahead of us.

[BrianDeery]

Any update on milestone 2 testing? Also, are we on target to delivering what we promised for Microsoft's BaaS?

Thanks in advanced for your reply. Exciting times ahead

I'm still collecting emails from people interested in testing milestone 2.  Let me know if you want to be one of the first outside the team to play with it.  We had success with the community testing milestone 1 back in August 2015.

[MaGNeT]

Ethereum, Factom, Lisk, RBR, MAID... 2016 is a great year for the blockchain

[crazyivan]

Factom has not had that kind of jump all these other coins did. Why?

[whiteorg72]

I think that Paul's comment on the AMA is getting totally blown out of proportion.  Granted, we are calling it Release Candidate 1, which is a bad name.  It probably conveys more quality than you should expect.

We are working to have the first release candidate of the consensus algorithm by the end of the year. We fully expect to release a few release candidates prior to going into production with the consensus algorithm early in 2016.

THIS

This was not an announcement.  It was an internal target to aim at, not something that we expect the community to rely on.  This was from an "Ask Me Anything" session.  A predictive answer was given, not a binding announcement.


Lets make sure we temper expectations.  At best we will be showing off a developer preview.  It is far from being ready to switch the network over and start using.  It will be enough for structures to be built with optimal network communications.  It will probably perform poorly with sub-optimal network communications, i.e. on the internet.

It is primarily for our internal testing team to have something to start poking at.



That being said, now is a good time to start asking for Milestone 2 Community Testers.  Please email me at brian@factom.org if you would like to help test Milestone 2 Release Candidates.  

The complexity to get it installed is probably about as difficult as this one for Milestone 1: https://github.com/FactomProject/FactomDocs/blob/master/communityTesterDirections.md

Any update on milestone 2 testing? Also, are we on target to delivering what we promised for Microsoft's BaaS?

Thanks in advanced for your reply. Exciting times ahead

All updates are found here - https://github.com/FactomProject/
We still have almost a month (29 days) left to the previously announced Factom project developers completion of work on the Milestone2.

[whiteorg72]

BrianDeery,
you have until the end of you life have gathered to test Milestone2?
Or is it done before the end of the 1st quarter of 2016 as promised earlier?

[crazyivan]

BrianDeery,
you have until the end of you life have gathered to test Milestone2?
Or is it done before the end of the 1st quarter of 2016 as promised earlier?

+1

Some dates would be nice to hear from you guys.

[taxmanmt5]

I have been with FCT from early december however the Milestone dates often mentioned earlier are getting Postponed

Suddenly there came a Huge chinese Pump in January which got cooled down. At some point in January FCT price was above ETH price.

Unless development takes on Deadlines provided it is difficult to make coin move.

[whiteorg72]

BrianDeery,
you have until the end of you life have gathered to test Milestone2?
Or is it done before the end of the 1st quarter of 2016 as promised earlier?

+1

Some dates would be nice to hear from you guys.

BrianDeery from Factom team now does not want to talk about specific dates, I think that the Factom team just does not know when they will finish work on the Milestone 2, I think that they do not have a timetable, and they do not know what and when they will be ready. Let developers Factom refute my words if I say wrong.

[whiteorg72]

I have been with FCT from early december however the Milestone dates often mentioned earlier are getting Postponed

Suddenly there came a Huge chinese Pump in January which got cooled down. At some point in January FCT price was above ETH price.

Unless development takes on Deadlines provided it is difficult to make coin move.

The problem is that the price of FCT did not want to move up, as yet there is no specific contract signed. Agreement of intent to work together with Chinese companies worth nothing at the moment, it is all just words. It is not specifically confirmed contracts and these intentions may at any time be terminated. So at the moment we still have nothing concrete (documentary confirmed). The new financial injections from any company in the Factom project is also is invisible.
Why the last two Chinese companies to prove their intentions have not invested any money in the Factom project?
Maybe they are afraid to put their money into the Factom project at this time?
Therefore, the price stays around $1 per coin.

[BrianDeery]

Are Factoids launching on shapeshift not excitement enough for one day?

All this talk of price and pumps is odd.  You seem to forget that Factoids are not money.  They are a portable software license to prevent spam.

Being on shapeshift gives a low friction way for developers to get started on the live system, without setting up exchange accounts, etc.

[tempus]

I have been with FCT from early december however the Milestone dates often mentioned earlier are getting Postponed

Suddenly there came a Huge chinese Pump in January which got cooled down. At some point in January FCT price was above ETH price.

Unless development takes on Deadlines provided it is difficult to make coin move.

The problem is that the price of FCT did not want to move up, as yet there is no specific contract signed. Agreement of intent to work together with Chinese companies worth nothing at the moment, it is all just words. It is not specifically confirmed contracts and these intentions may at any time be terminated. So at the moment we still have nothing concrete (documentary confirmed). The new financial injections from any company in the Factom project is also is invisible.
Why the last two Chinese companies to prove their intentions have not invested any money in the Factom project?
Maybe they are afraid to put their money into the Factom project at this time?
Therefore, the price stays around $1 per coin.

Sometimes your posts seem as if you have to read what you write to know what you think. ;-)



And sometimes a little bit like.......



;-)

[BrianDeery]

Why the last two Chinese companies to prove their intentions have not invested any money in the Factom project?
Maybe they are afraid to put their money into the Factom project at this time?

This is another thing you seem to forget.  The cost for businesses to use Factom is irrespective of the token price.  They pay a constant amount per KiB of data.  This is the beauty of the system.  Multinational companies do not need to speculate on the token to use the system.  It can be used as pure fintech software for them.

[whiteorg72]

Why the last two Chinese companies to prove their intentions have not invested any money in the Factom project?
Maybe they are afraid to put their money into the Factom project at this time?

This is another thing you seem to forget.  The cost for businesses to use Factom is irrespective of the token price.  They pay a constant amount per KiB of data.  This is the beauty of the system.  Multinational companies do not need to speculate on the token to use the system.  It can be used as pure fintech software for them.

So we probably will see a stable price for factoids and manipulation on the exchanges factoids are simply not needed for peoples. What we now see.
Factoids nobody will be needed on the exchanges if they will not be able to make money on speculation.
If the price of factoids will be stable, we will see the " brother altcoin" - NUBITS ($1 per coin) (http://coinmarketcap.com/currencies/nubits/).
Very stable altcoin and that people on the exchange is not necessary because it is impossible to make money in the manipulation.

[tempus]

Why the last two Chinese companies to prove their intentions have not invested any money in the Factom project?
Maybe they are afraid to put their money into the Factom project at this time?

This is another thing you seem to forget.  The cost for businesses to use Factom is irrespective of the token price.  They pay a constant amount per KiB of data.  This is the beauty of the system.  Multinational companies do not need to speculate on the token to use the system.  It can be used as pure fintech software for them.

So we probably will see a stable price for factoids and manipulation on the exchanges factoids are simply not needed for peoples. What we now see.
Factoids nobody will be needed on the exchanges if they will not be able to make money on speculation.
If the price of factoids will be stable, we will see the " brother altcoin" - NUBITS ($1 per coin) (http://coinmarketcap.com/currencies/nubits/).
Very stable altcoin and that people on the exchange is not necessary because it is impossible to make money in the manipulation.

Speculation is not needed for those who will use the system. If they want to buy 1 Mio EC's it's always the same price in Dollar and they don't need to care about the FCT-price, they don't even need to know about FCT's.

But: Speculation will always play a role and the price won't be stable. It wouldn't even be totally stable without any speculation because of the FCT --> EC - conversion-rate. 

[correlations]

What is the difference between the FCT on exchanges and Factoid?


What gives value to FCT?



If FACTOM is valued at 11.8 million in Seed round by vcs then what does that Mean for the PRICE OF FACTOM?


Thank you 

[crazyivan]

What is the difference between the FCT on exchanges and Factoid?


What gives value to FCT?



If FACTOM is valued at 11.8 million in Seed round by vcs then what does that Mean for the PRICE OF FACTOM?


Thank you 

Undervalued at the moment imo.

Here is what should come by the end of the month according to Microsoft... Hoping Brian or Paul can verify..

Factom: Simplify records management, record business processes, and address security and compliance issues. The following are in the pipeline:
- Deploy a factomd service exposing the Factom APIs - Q1 2016
- Bitcoin data service of prices from different exchanges recorded on Factom's Blockchain - Q1 2016

https://azure.microsoft.com/en-us/blog/azure-baas-update-2/

Factom team, pls comment on these dates. I have red this post about Factoid price not being important but for us it is important. There are several large holders here like Whiteorg and if you do not want them dumping everything and switching to Ether, you should update us on these dates.

[MaGNeT]

Factom has not had that kind of jump all these other coins did. Why?

We are still 4-5 times up from ICO price, I think that's pretty good.

And we are still in the early stage of Factom. No need to hurry, price is good for buying right now.

[whiteorg72]

What is the difference between the FCT on exchanges and Factoid?


What gives value to FCT?



If FACTOM is valued at 11.8 million in Seed round by vcs then what does that Mean for the PRICE OF FACTOM?


Thank you  

Undervalued at the moment imo.

Here is what should come by the end of the month according to Microsoft... Hoping Brian or Paul can verify..

Factom: Simplify records management, record business processes, and address security and compliance issues. The following are in the pipeline:
- Deploy a factomd service exposing the Factom APIs - Q1 2016
- Bitcoin data service of prices from different exchanges recorded on Factom's Blockchain - Q1 2016

https://azure.microsoft.com/en-us/blog/azure-baas-update-2/

Factom team, pls comment on these dates. I have red this post about Factoid price not being important but for us it is important. There are several large holders here like Whiteorg and if you do not want them dumping everything and switching to Ether, you should update us on these dates.

It is useless to ask for specific dates. The Factom developers simply do not know them. If it were otherwise, BrianDeery from Factom team would say these dates, but he does not say, just because they do not know the specific date of completion of Milestone 2.
Only remains to hope that the work on the Milestone 2 will be completed before the end this month (the end of the first quarter of 2016) and the Factom developers keep their word and do not break your schedule.
By the way I'm not going to move from the Factom, I was and will stay only in this project.

[yavuzc78]

https://azure.microsoft.com/en-us/blog/azure-baas-update-2/

When is?