[ANN] FACTOM - Introducing Honesty to Record-Keeping

[crazyivan]

yep, speculators left and rebuy in the high 20s  

Yes, exactly. This is why I hate Polo for letting bots artificially inflate coin prices. But I guess that s industry too, Polo makes money on trade fees so they greet speculators with open arms. The rest of us can follow the wave as I do or gather Factom like hamsters and wait for the next pump.

[Mrboot]

yep, speculators left and rebuy in the high 20s   

Yes, exactly. This is why I hate Polo for letting bots artificially inflate coin prices. But I guess that s industry too, Polo makes money on trade fees so they greet speculators with open arms. The rest of us can follow the wave as I do or gather Factom like hamsters and wait for the next pump.

I bought a lot fct also just today at 500k satoshi, eventually i dont wanna miss the train like many did with ethereum, thinking to invest 1 btc every month at least into factom.

Eventually the usage will determine the value not the speculators, 73k coins will be equil to the usage.

[crazyivan]

yep, speculators left and rebuy in the high 20s   

Yes, exactly. This is why I hate Polo for letting bots artificially inflate coin prices. But I guess that s industry too, Polo makes money on trade fees so they greet speculators with open arms. The rest of us can follow the wave as I do or gather Factom like hamsters and wait for the next pump.

I bought a lot fct also just today at 500k satoshi, eventually i dont wanna miss the train like many did with ethereum, thinking to invest 1 btc every month at least into factom.

Eventually the usage will determine the value not the speculators, 73k coins will be equil to the usage.

Well, in theory yes. However, you know how many coins have been trying to repeat that same mantra. It ll provide widespread usage, widespread adoption, people will buy, services will grow. You re in crypto as long as I am and I m sure you can name dozen of similar projects promising the same success. How many of them have actually delivered?

Until I see Milestone 2, I m not gonna buy anything above I have ATM. I may even sell.

[Mrboot]

All I see here is price speculation built around delivery of "milestones" that the devs never even published anywhere.

Have fun watching the price fall back to 200.

I will come back in 6 months.

I guess your complete off , most price increase was cause of the signed deals with major company's when they start useing the software then it can really become big.

Can you imagine all the data van Big companys to smart cities ,  I hope it will fall back to 200k though cause then i can collect about 2,5x as much a week.

[bangomatic]

All I see here is price speculation built around delivery of "milestones" that the devs never even published anywhere.

Have fun watching the price fall back to 200.

I will come back in 6 months.

I guess your complete off , most price increase was cause of the signed deals with major company's when they start useing the software then it can really become big.

Can you imagine all the data van Big companys to smart cities ,  I hope it will fall back to 200k though cause then i can collect about 2,5x as much a week.

I'm invested in FCT, just pisses me off seeing nothing other than price speculation and talk of "Milestones" that arent even published.

[Mrboot]

Whats your outlook for fct price ?

[bangomatic]

Whats your outlook for fct price ?

I won't make a guess as to the price. cause that's all it would be, is a guess.

longterm, it all depends on how popular Factom becomes and how many business's use it.

I dont think the price is tied to the fabled "milestones" as some of the active posters here think.

[tempus]

Whats your outlook for fct price ?

I won't make a guess as to the price. cause that's all it would be, is a guess.

longterm, it all depends on how popular Factom becomes and how many business's use it.

I dont think the price is tied to the fabled "milestones" as some of the active posters here think.

The use of Factom is tied to the Milestones. After M2 it will be much easier to use it, to develop on top of it and so on. So, of course the next Milestone is an important step and I'm not sure about the price. You're right that all price-talking is just guessing. But the coming release will have impact on the whole dynamic.  

[Mrboot]

I agree thats why im collecting all kind of coins and dont daytrade, also makes me less stressed and emotional on a 10% drop

Although i hope to hear from the factom team cause they always say you can contact us!

But THEY never reply on a PM or a question in this Forum what annoys me more then any price atm.

[bangomatic]

Whats your outlook for fct price ?

I won't make a guess as to the price. cause that's all it would be, is a guess.

longterm, it all depends on how popular Factom becomes and how many business's use it.

I dont think the price is tied to the fabled "milestones" as some of the active posters here think.

The use of Factom is tied to the Milestones. After M2 it will be much easier to use it, to develop on top of it and so on. So, of course the next Milestone is an important step and I'm not sure about the price. You're right that all price-talking is just guessing. But the coming release will have impact on the whole dynamic.  

Where can i read about the milestones?

[tempus]

Whats your outlook for fct price ?

I won't make a guess as to the price. cause that's all it would be, is a guess.

longterm, it all depends on how popular Factom becomes and how many business's use it.

I dont think the price is tied to the fabled "milestones" as some of the active posters here think.

The use of Factom is tied to the Milestones. After M2 it will be much easier to use it, to develop on top of it and so on. So, of course the next Milestone is an important step and I'm not sure about the price. You're right that all price-talking is just guessing. But the coming release will have impact on the whole dynamic.  

Where can i read about the milestones?

From the AMA with Paul Snow for example:


Factom released the protocol in September of 2015, running on a few servers that we manage. This was the first milestone, and it allows applications to write their own applications that rely on data secured by the Bitcoin blockchain, and organized by the Factom protocol.

Milestone 2 will have a couple of major components. First will be the deployment of a Entry Credit store, where users can buy Entry Credits (basically access to the protocol) without touching any sort of tradable token. The second will be the release of the consensus algorithm, the software supporting distributed processing of the Factom protocol. 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.

Milestone 3 is the last milestone. It will release the election protocol, which places the control of the federated servers in the hands of those purchasing Entry Credits. We intend to reach this milestone in the first half of 2016. In addition to implementation, it also relies on having enough diversity of use of the protocol to make the election process meaningful.

https://forum.bitcoin.com/ama-ask-me-anything/i-am-paul-snow-the-architect-of-factom-and-chair-of-the-texas-bitcoin-conference-ask-me-anything-t4026.html


Review of Milestone 1:
http://factom.org/downloads/factomreview.pdf


On Koinify was a good overview but the site is off now.

[bangomatic]

A simple google search reveals milestone details.

Milestone 2 will have a couple of major components. First will be the deployment of a Entry Credit store, where users can buy Entry Credits (basically access to the protocol) without touching any sort of tradable token. The second will be the release of the consensus algorithm, the software supporting distributed processing of the Factom protocol. 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.

Milestone 3 is the last milestone. It will release the election protocol, which places the control of the federated servers in the hands of those purchasing Entry Credits. We intend to reach this milestone in the first half of 2016. In addition to implementation, it also relies on having enough diversity of use of the protocol to make the election process meaningful.

https://forum.bitcoin.com/ama-ask-me-anything/i-am-paul-snow-the-architect-of-factom-and-chair-of-the-texas-bitcoin-conference-ask-me-anything-t4026.html

Ok I asked the question yesterday and someone said they werent published.  Seems they would put something such as this on the OP.  thanks for giving me a link.

[bangomatic]

thanks for the links @tempus

thats the kind of info that investors need to know. wish the devs would post this on the OP.

[Drgmn]

Yes, exactly. This is why I hate Polo for letting bots artificially inflate coin prices. But I guess that s industry too, Polo makes money on trade fees so they greet speculators with open arms. The rest of us can follow the wave as I do or gather Factom like hamsters and wait for the next pump.

If you dont like speculation then perhaps you should not buy any asset - crypto or another - and check the price every day, but just buy it and go away for at least a year.

speculation is what thrives the market. A really good speculator has a much more sober view at the true value of an asset than the average joe and is immune to hype, Fud or Fomo. Those are the guys that invest in Apple or Microsoft Shares when nobody else knows what a Home PC is. And FCT, as any other coin, profits from a 500% bubble -even if it deflates later on- much more than if it stays in the lows for months. We can be happy that we had a strong one and look forward to the next one. It shows the interest of the market. There is no linear growth.

[Nxtblg]

When Milestone2 will be finished and will then move up (jump) price FCT, as people see actual finished work above second stage Factom.
There will also jump prices FCT be when is completed Milestone3 and the Factom will be fully operational project.
Unfortunately, we need to wait at least another six months, when we will see the Factom project in full force.

Thats perfect we got like 6 months to stack up coins that will have a end value of approx 270 dollar my estimation though

My two latest buys exactly.

It's nice to have a holding period of years. You have the luxury of seeing a slamdown (like the recent one) as a buying opportunity. If FCT reaches the price we hope, there'll be a lot of giggles over these jumps & bumps.

[Nxtblg]

I bought a lot fct also just today at 500k satoshi, eventually i dont wanna miss the train like many did with ethereum, thinking to invest 1 btc every month at least into factom.

Eventually the usage will determine the value not the speculators, 73k coins will be equil to the usage.

That's a durn good idea! Using FCT buys as a monthly savings plan "with a kicker" also harnesses dollar-cost-averaging to your benefit. The lower it goes, the more FCT you buy; the higher it goes, the more unrealized profit you bank.

We Factomeers have that luxury because Factom is a real project that's already cut deals. It's a genuine start-up.

[whiteorg72]

Microsoft Adds 5 New Blockchain Partners to Azure.

"...Other new additions to its blockchain testbed, announced in October, include custom blockchain development platform Lisk; digital asset platform BitShares; and alternative blockchain Syscoin. BitPay, Eris Industries and Factom are among a number of previously announced partners..."

http://www.coindesk.com/microsoft-5-blockchain-partners-azure/

[whiteorg72]

Land and Poverty Conference 2016: Scaling up Responsible Land Governance.
March 14-18, 2016 . Washington, DC
http://www.worldbank.org/en/events/2015/07/20/land-and-poverty-conference-2016-scaling-up-responsible-land-governance
https://twitter.com/hashtag/LandConf2016?src=hash
https://twitter.com/factomproject

At the WorldBank LandConf2016. Day 2. Honduras on stage.

[MaGNeT]

Land and Poverty Conference 2016: Scaling up Responsible Land Governance.
March 14-18, 2016 . Washington, DC
http://www.worldbank.org/en/events/2015/07/20/land-and-poverty-conference-2016-scaling-up-responsible-land-governance
https://twitter.com/hashtag/LandConf2016?src=hash
https://twitter.com/factomproject

At the WorldBank LandConf2016. Day 2. Honduras on stage.

This is great marketing for Factom!

Funny thing is, there may be a Honduras deal after all

[tyz]

Somehow, it seems Mircosoft is adding every interested and serious coin to their Azure platform at the moment.
It decreases the value of Factom on Azure platform in my point of view.

Microsoft Adds 5 New Blockchain Partners to Azure.

"...Other new additions to its blockchain testbed, announced in October, include custom blockchain development platform Lisk; digital asset platform BitShares; and alternative blockchain Syscoin. BitPay, Eris Industries and Factom are among a number of previously announced partners..."

http://www.coindesk.com/microsoft-5-blockchain-partners-azure/