[ANN] FACTOM - Introducing Honesty to Record-Keeping

[MyFarm]

Can you mine this?

about 75K FCT a year will be distributed to Federated Servers who help maintain the network with their resources.

Per month, not per year.

[regexlove]

1.  In our opinion, YBH's volume has never been legit.

Who is your team, why don't you guys add some documentation of your analysis?

Tell that to those who bought at 700k
Looks like the Polo price is sliding down to the Chinese price

They got hurt from gambling - or the sponsor of your posts pushed their SHORT orders into forced liquidation?

I m with whiteorg72 on this one. Factom can and should surpass Ether.

The issue is comparing the uncomparable or without even trying to make a comparision.  Fenbushi.vc is old news.

What will make a dAPPs developer decide to use Factom instead of storing hashes in blockchains directly?

Moreover how in the world would ethereum as a whole use factom or rely on factom?!


Let me try a stronger comparision:  
Solarcoin can and should surpass Bitcoin because it seeks to reward sustainable energy instead of burning energy  - and ultimately this really should be the only relevant difference, since given proper time, funding, opensource contribution, popularity solarcoin sure could improve/remove doubts!

It doesn't take documentation to prove YBH doesn't reveal orders or market depth, crappy thing to do for an exchange IMO.

Yes, the interface has less content than poloniex and just shows 40 entries of the order book and and 50 of the order history, unsure how much they reveal via API keys.   But I was answering on MyFarm's team's analysis leading to their opinion, that Yuanbaohui's volume and price were all fake. The website seems popular enough in China, so that it would be easy to inteview some members and it's probably easy to identify some of Yuanbaohui's wallets used for deposit/withdrawal - or to ask Factom-developers what they think about Yuanbaohui.

[nickhiggins123]

http://coinmarketcap.com/currencies/factom/#markets

Yuanbaohui lost respect -- now showing a big Zero from coinmarketcap!

Yeah, I cannot figure out what is going on here, it's actually going down on YBH while polo tries to continue to go up, so this is ridiculous. Selling and setting buy order at 380k or until things start making sense around here. Idc if I miss a rally, they have far more FCT and could crush the entire polo market with ease. Going long would be completely illogical. #Houseofcards

[whiteorg72]

Initially, it was clear that the Chinese market is fake (Chinese simply draw they needed digits), simply can not be there as many coins FCT for of such traffic as theirs. Elementary, on the Chinese exchange simply can not be such a large amount of FCT coins for their turn. Basically, all the Chinese exchanges overstate its turnover. And what can be expected from exchanges with 0% commission.

If China would be so many coins FCT then the Chinese would have long ago crushed Polo FCT exchange their coins, this is why not?
Why is the Chinese exchange nobody dumps coins FCT on Polo exchange?

[ExcessTest]

Initially, it was clear that the Chinese market is fake (Chinese simply draw they needed digits), simply can not be there as many coins FCT for of such traffic as theirs. Elementary, on the Chinese exchange simply can not be such a large amount of FCT coins for their turn. Basically, all the Chinese exchanges overstate its turnover. And what can be expected from exchanges with 0% commission.

If China would be so many coins FCT then the Chinese would have long ago crushed Polo exchange their coins, this is why not?
Why is the Chinese exchange nobody dumps coins FCT on Polo exchange?

What are you trying to say? That the sell orders on Yuanbao cannot be bought? I find that very unlikely.

[whiteorg72]

Initially, it was clear that the Chinese market is fake (Chinese simply draw they needed digits), simply can not be there as many coins FCT for of such traffic as theirs. Elementary, on the Chinese exchange simply can not be such a large amount of FCT coins for their turn. Basically, all the Chinese exchanges overstate its turnover. And what can be expected from exchanges with 0% commission.

If China would be so many coins FCT then the Chinese would have long ago crushed Polo exchange their coins, this is why not?
Why is the Chinese exchange nobody dumps coins FCT on Polo exchange?

What are you trying to say? That the sell orders on Yuanbao cannot be bought? I find that very unlikely.

Explain to me, then why are not output from China and FCT through arbitration not reset coins on Polo exchange?
No one wants to earn 53% in the arbitration?
In China, the problem of the withdrawal FCT?

Inside one exchange can be anything you want to buy and sell, it's understandable. But the real output cryptocurrency from one exchange to another exchange especially in large quantities can be a problem, especially if the amount are drawn and are not real.

If on the Chinese exchange it would have been 100% real, and not draw, it has long been the Chinese would be crushed by their turnovers Polo FCT exchange. Why has it not !!!

The Chinese are idiots and do not want to withdraw its FCT to another exchange (Polo) just to get 53% of the profit ?

Who can explain it?

[snakey]

Nice movement.

Holding strong.

[crazyivan]

When is milestone 2 due to be completed. I could not find that info in the OP

It's work in progress, we don't have an exact date yet but it's not too far away.
It's currently being finalized and tested by the team, however testing needs to be thorough for a stable release.

Stay tuned for announcements and calls for testing.  

This is important. This is what makes us move up and forward. Hope to read more news about this soon.

Forget about arbitrage, it s obviously not possible to buy lower in China, due to some reason or they would be doing by now like crazy. So the only other option is for the Chinese price to rise to match Polo.

Another question is why a Chinese seller would sell lower there then move to Polo and sell higher? Simply not possible.

[crazyivan]

Also, I do suggest the dev team to move this thread to altocoin announcement thread. I know you re gonna argue Factoids are not altcoins but it would definitely get much more exposure there. Comparable threads have over 1000 pages there. Nobody checks in project development for new coins.

[whiteorg72]

Also, I do suggest the dev team to move this thread to altocoin announcement thread. I know you re gonna argue Factoids are not altcoins but it would definitely get much more exposure there. Comparable threads have over 1000 pages there. Nobody checks in project development for new coins.

I agree, that this topic should be moved to the correct section of the forum. But it is also necessary to write the owners of this forum to make the transfer. Now I will write to Brian Derry develop thought about the topic transfer into the correct section.

crazyivan, best to move this thread here - https://bitcointalk.org/index.php?board=159.0  ?

[taxmanmt5]

As predicted due to small developments the FCT price has indeed risen and its above 620k sat on Polo

However i should kick myself of not holding any of the coins

May be in future i will try to keep some when price gets corrected a little bit

[whiteorg72]

How would you characterize the relationship between Ethereum, Factom, and MaidSafe?

PaulSnow 17 hours ago:
Ethereum provides smart contracts, Maidsafe provides document storage, and Factom provides data integrity and versioning.
All three work together, and while there is some overlap, I can envision applications that use all three.

bbaker6212 13 hours ago:
Maybe you can envision it, but can you imagine how much work it would take? That's a hellofa lot of work for a programmer to make an app that uses 3 different systems/API/interfaces and perhaps languages as well.

PaulSnow 12 hours ago:
Not really. Factom will be putting Anchors in Ethereum, so the cryptographic proofs work with only Ethereum under an app. Accessing Factom requires web service calls, so you don't have to use a particular language.
We have some sample Java code, and the code can sign requests to build chains and add entries, and doesn't require a great deal of programming on the part of the developer to use Factom.
The idea behind the data layer is to keep things simple from various perspectives, and provide a layer multiple apps (one based on Ethereum, another on Bitcoin, etc.) can still leverage the same data.

https://www.reddit.com/r/factom/comments/491bvx/how_would_you_characterize_the_relationship/

[crazyivan]

Also, I do suggest the dev team to move this thread to altocoin announcement thread. I know you re gonna argue Factoids are not altcoins but it would definitely get much more exposure there. Comparable threads have over 1000 pages there. Nobody checks in project development for new coins.

I agree, that this topic should be moved to the correct section of the forum. But it is also necessary to write the owners of this forum to make the transfer. Now I will write to Brian Derry develop thought about the topic transfer into the correct section.

crazyivan, best to move this thread here - https://bitcointalk.org/index.php?board=159.0  ?

Yes, that would be the correct thread, IMHO.

[whiteorg72]

Also, I do suggest the dev team to move this thread to altocoin announcement thread. I know you re gonna argue Factoids are not altcoins but it would definitely get much more exposure there. Comparable threads have over 1000 pages there. Nobody checks in project development for new coins.

I agree, that this topic should be moved to the correct section of the forum. But it is also necessary to write the owners of this forum to make the transfer. Now I will write to Brian Derry develop thought about the topic transfer into the correct section.

crazyivan, best to move this thread here - https://bitcointalk.org/index.php?board=159.0  ?

Yes, that would be the correct thread, IMHO.

Brian Derry says that this proposal is not to him. Can you then easier to write the owners of this forum, that their people have done the transfer?

[ExcessTest]

Can anyone translate this page more accurately?

https://www.yuanbaohui.com/news/detail/?id=834

 it explains the situation on the chinese exchange.

Chrome translate gives this:

Dear ingot network users:

        Since the notary credits node network is unstable, the probability of the block chain is not properly synchronized great, resulting in many users turn the normal flow of credit are invalid. So gold coins raise credits net pause notary services. We will open the first time until further notice. Please pay attention to the official announcement ingot network.

        To do this for the inconvenience, please understand.

EDIT: seems they just need to resync with the blockchain in which case we'll see a flood of FCT come out onto the other exchanges and correct the price when its done.

[dealeris]

Can anyone translate this page more accurately?

https://www.yuanbaohui.com/news/detail/?id=834

 it explains the situation on the chinese exchange.

Chrome translate gives this:

Dear ingot network users:

        Since the notary credits node network is unstable, the probability of the block chain is not properly synchronized great, resulting in many users turn the normal flow of credit are invalid. So gold coins raise credits net pause notary services. We will open the first time until further notice. Please pay attention to the official announcement ingot network.

        To do this for the inconvenience, please understand.

EDIT: seems they just need to resync with the blockchain in which case we'll see a flood of FCT come out onto the other exchanges and correct the price when its done.

What is this info related to? Factom exchanges or factom proof of work?

[ExcessTest]

Can anyone translate this page more accurately?

https://www.yuanbaohui.com/news/detail/?id=834

 it explains the situation on the chinese exchange.

Chrome translate gives this:

Dear ingot network users:

        Since the notary credits node network is unstable, the probability of the block chain is not properly synchronized great, resulting in many users turn the normal flow of credit are invalid. So gold coins raise credits net pause notary services. We will open the first time until further notice. Please pay attention to the official announcement ingot network.

        To do this for the inconvenience, please understand.

EDIT: seems they just need to resync with the blockchain in which case we'll see a flood of FCT come out onto the other exchanges and correct the price when its done.

What is this info related to? Factom exchanges or factom proof of work?

The chinese exchange being at a price of 0.0041 BTC while western exchanges being at 0.0064 BTC

[dealeris]

Can anyone translate this page more accurately?

https://www.yuanbaohui.com/news/detail/?id=834

 it explains the situation on the chinese exchange.

Chrome translate gives this:

Dear ingot network users:

        Since the notary credits node network is unstable, the probability of the block chain is not properly synchronized great, resulting in many users turn the normal flow of credit are invalid. So gold coins raise credits net pause notary services. We will open the first time until further notice. Please pay attention to the official announcement ingot network.

        To do this for the inconvenience, please understand.

EDIT: seems they just need to resync with the blockchain in which case we'll see a flood of FCT come out onto the other exchanges and correct the price when its done.

What is this info related to? Factom exchanges or factom proof of work?

The chinese exchange being at a price of 0.0041 BTC while western exchanges being at 0.0064 BTC

Thank you for explaining.
Do you have any idea what volume chinese exchange holds?

[ExcessTest]

Can anyone translate this page more accurately?

https://www.yuanbaohui.com/news/detail/?id=834

 it explains the situation on the chinese exchange.

Chrome translate gives this:

Dear ingot network users:

        Since the notary credits node network is unstable, the probability of the block chain is not properly synchronized great, resulting in many users turn the normal flow of credit are invalid. So gold coins raise credits net pause notary services. We will open the first time until further notice. Please pay attention to the official announcement ingot network.

        To do this for the inconvenience, please understand.

EDIT: seems they just need to resync with the blockchain in which case we'll see a flood of FCT come out onto the other exchanges and correct the price when its done.

What is this info related to? Factom exchanges or factom proof of work?

The chinese exchange being at a price of 0.0041 BTC while western exchanges being at 0.0064 BTC

Thank you for explaining.
Do you have any idea what volume chinese exchange holds?

http://coinmarketcap.com/currencies/factom/#markets

46% so the correction will hit hard

[regexlove]

FCT needs to be taken down off of Yuanbaohui. They don't allow international customers, so arbitrage is impossible, and price on YBH is being suppressed to 35% cheaper than on Polo. Then they send massive amounts over, dump it on polo, and hoard the BTC back to China. They don't give a crap about FCT, it's just a tool for them to hoard more BTC. It needs to get off of that piece of !#$% exchange ASAP.

We appreciate the feedback however the Chinese market is important for us as we are working with several companies out there.
Also how do you know the Chinese are doing what you say they are doing?

We know for a fact that our Chinese partners require FCT for their own testing purposes and in the future to run their systems of records.
What you are saying is your own opinion and should be treated as such. We do not promote speculation of FCT we have always been clear what FCT are used for but on the other end we cannot stop people doing what they want on the free open market which we don't control.

Read the last sentence guys!
-No news nor insider trading, Factom didn't change more than usual in the last 2 days
So as always:
-Fast moves on the market are needless.
-Crazy volume shows most people aren't holding but gambling. Exchanges win.