[ANN] FACTOM - Introducing Honesty to Record-Keeping

[MaGNeT]

Is Milestone 2 coming this month? Any predictions? 

If Q1 ends this month, milestone 2 should come this month

[whiteorg72]

Factom FAQ is now available in Chinese. 公证通（Factom）FAQ.
http://zhuanlan.zhihu.com/zhaoyu/20657621

Thanks to @ZhaoyuJohnny.
https://twitter.com/ZhaoyuJohnny

[bandofgypsys]

Have we hit the price floor? Recovering up?

IMO it needs to decisively break through the trough @ 500000 is a key resistance. but it's possible we have bottomed.

[crazyivan]

Have we hit the price floor? Recovering up?

IMO it needs to decisively break through the trough @ 500000 is a key resistance. but it's possible we have bottomed.

I think it s obvious we have. All other major coins re in green now, I guess we re into growth phase again.

[bandofgypsys]

Have we hit the price floor? Recovering up?

IMO it needs to decisively break through the trough @ 500000 is a key resistance. but it's possible we have bottomed.

I think it s obvious we have. All other major coins re in green now, I guess we re into growth phase again.

I agree, I think April could be like 2013. Lot's of fomo. I'd have liked to see a longer wick when it bottomed. But hey I'll take it xD

[Nxtblg]

Have we hit the price floor? Recovering up?

IMO it needs to decisively break through the trough @ 500000 is a key resistance. but it's possible we have bottomed.

I think it s obvious we have. All other major coins re in green now, I guess we re into growth phase again.

Part of me wishes you're right, part of me doesn't. Obviously, I suffer from the usual split personality. It's an occupational hazard.

But seriously, I bought ~145 below 0.004. My overall break-even price, according to Polo, is about 0.005. So I'm still well in the loss column, but I really don't care. If it turns back down and stays below 0.004, I'll just buy more when I can scrape up the funds.

[crazyivan]

Have we hit the price floor? Recovering up?

IMO it needs to decisively break through the trough @ 500000 is a key resistance. but it's possible we have bottomed.

I think it s obvious we have. All other major coins re in green now, I guess we re into growth phase again.

Part of me wishes you're right, part of me doesn't. Obviously, I suffer from the usual split personality. It's an occupational hazard.

But seriously, I bought ~145 below 0.004. My overall break-even price, according to Polo, is about 0.005. So I'm still well in the loss column, but I really don't care. If it turns back down and stays below 0.004, I'll just buy more when I can scrape up the funds.

Unless they manage to produce a decent wallet, I m done buying. Will be actually selling as soon as we see another pump. Factom should serve it s users and not vice versa.

[crazyivan]

They will come up with a better wallet. Github seems to be very active with focus on Milestone 2. Good things will come to those that are patient. This is not easy in crypto, but I have learned it pays off.

I agree with you, patience is the key and real investors are always big time patient.

However, the dev team needs to understand there re 2 groups of Factom users:

1) Those who will actually use Factom and Entry Credits to store data. BTW, how many of those are around ATM?

2) Investors like most of us here, buying and holding Factom, hoping to see price increase in the Future. We re also the ones doing marketing for Factom ATM.

It is very important for the team to understand that both groups need to be considered as Factom community. Working only for the first group s not going to be enough. The second group needs simple, decent and safe WALLET.

[whiteorg72]

They will come up with a better wallet. Github seems to be very active with focus on Milestone 2. Good things will come to those that are patient. This is not easy in crypto, but I have learned it pays off.

I agree with you, patience is the key and real investors are always big time patient.

However, the dev team needs to understand there re 2 groups of Factom users:

1) Those who will actually use Factom and Entry Credits to store data. BTW, how many of those are around ATM?

2) Investors like most of us here, buying and holding Factom, hoping to see price increase in the Future. We re also the ones doing marketing for Factom ATM.

It is very important for the team to understand that both groups need to be considered as Factom community. Working only for the first group s not going to be enough. The second group needs simple, decent and safe WALLET.

crazyivan, I wrote to Factom developers to turn their attention to is your message, it is interesting to get a comment from Brian Deery or someone else from the Factom team. We are waiting for a comment from Factom team for your message.

Interestingly, the owners Factom and developers Factom to understand what they are working and whether they divide us into two or more groups? Do they want to improve Factom for first investors and ordinary factoids buyers (example, make free easy Factom Web walllet) who helped them get the first start-up capital and enable them to demonstrate to the world Factom project. Or now Factom team has forgotten his first investors, ordinary factoids buyers and only switched to the big companies from China or other countries (and now the main business is to sell only Entry Credits (EC ENTRIES) and Factom team can forget about the factoids and simultaneously all have been associated with them(factoids), such as the easy Factom web wallet and not make his?)?

[whiteorg72]

This should be the area where you can search on Azure BaaS templates and deploy them for development purposes. I don't see Factom yet but it should come very soon. I do see Ethereum, Bitshares, Eris, Expanse and many others.

https://azure.microsoft.com/en-us/documentation/templates/

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

Factom has long been in the Azure (#update-2). We do not see works Milestone2 until now, for some reason , and before the end of 1Q 2016 only 11 days left!

"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/

[BrianDeery]

The most secure way to hold factoids is with a paper wallet.  It is simple.  It is safe.  Descent to me means that you are asking for an insecure wallet.  Security is tradeoff between security and convenience.  Are you asking for a more convenient less secure wallet? 

Walletapp can be used securely.  It can be used in offline mode, where the private keys never touch an online computer.  It is similar to how Armory would be used.  The transactions are prepared online, saved to a thumbdrive, then moved to an offline computer.  The offline computer examines the transaction, then signs it.  The signed transaction is put onto the thumbdrive then imported into the online computer, which broadcasts it.


Last week you guys were wanting milestone2, this week you want a web wallet.  We find milestone 2 is a higher priority. 


You seem to be thinking of factoids as an altcoin.  factoids are not an altcoin.  I define an altcoin as a token who's primary purpose is be be a store of value and payment network for purposes outside of the network.  Litecoin and Monero are examples of this.  With altcoins, and all money for that matter, speculators are anticipating someone in the future will also be a speculator.  Factoids do not require that there be future speculators to have a value.  It only requires that people use the system as a publishing platform.  See the negative feedback article from earlier.

We are working on making it a better publishing platform.  This will do more to create value than even the most spectacular wallet you can imagine.


In the upcoming version 0.3.6 you will be able to specify a remote factomd, so you can run fctwallet and factom-cli without having the blockchain.  Will it be as easy as mybitcoin.com?  No.  http://observer.com/2011/08/mybitcoin-disappeared-with-bitcoins/  It will be a good solution for azure users to start using factom without having to download the blockchain.

We do not see works Milestone2 until now, for some reason , and before the end of 1Q 2016 only 11 days left!

Where did you get the idea that the azure blog was talking about milestone 2?

[crazyivan]

The most secure way to hold factoids is with a paper wallet.  It is simple.  It is safe.  Descent to me means that you are asking for an insecure wallet.  Security is tradeoff between security and convenience.  Are you asking for a more convenient less secure wallet?  

Walletapp can be used securely.  It can be used in offline mode, where the private keys never touch an online computer.  It is similar to how Armory would be used.  The transactions are prepared online, saved to a thumbdrive, then moved to an offline computer.  The offline computer examines the transaction, then signs it.  The signed transaction is put onto the thumbdrive then imported into the online computer, which broadcasts it.


Last week you guys were wanting milestone2, this week you want a web wallet.  We find milestone 2 is a higher priority.  


You seem to be thinking of factoids as an altcoin.  factoids are not an altcoin.  I define an altcoin as a token who's primary purpose is be be a store of value and payment network for purposes outside of the network.  Litecoin and Monero are examples of this.  With altcoins, and all money for that matter, speculators are anticipating someone in the future will also be a speculator.  Factoids do not require that there be future speculators to have a value.  It only requires that people use the system as a publishing platform.  See the negative feedback article from earlier.

We are working on making it a better publishing platform.  This will do more to create value than even the most spectacular wallet you can imagine.


In the upcoming version 0.3.6 you will be able to specify a remote factomd, so you can run fctwallet and factom-cli without having the blockchain.  Will it be as easy as mybitcoin.com?  No.  http://observer.com/2011/08/mybitcoin-disappeared-with-bitcoins/  It will be a good solution for azure users to start using factom without having to download the blockchain.

We do not see works Milestone2 until now, for some reason , and before the end of 1Q 2016 only 11 days left!

Where did you get the idea that the azure blog was talking about milestone 2?

So what you re saying is that you do not need Factoid holders and investors, right? Since Factoid are not an altcoin, the only people who should hold them are those who plan to use the system as a publishing platform. I do not plan to use it that way. Whiteorg72, do you plan to use your Factoids to store data? Is there anyone here who plans to use Factoids to store data? This is my whole point, if your only interest is to serve that group of people who will actually use Factoids, then none of us, current investors, should support Factom and we can sell our holdings. If this is the way you treat your community, pls say so, so I know what should I do with my Factoids. Helping finance this project while you consider us relatively unimportant, just a vessel to help you reach your goals, is not something I m prepared to do. Brian, you might be really great at what you do but you know absolutely nothing about marketing.

[BrianDeery]

I'm sorry our incentives don't perfectly align.  I have a long term perspective, which includes passing the milestones.  My perspective extends beyond the next bubble. 


You are speculating on factoids.  Why?  Because the price will go up?  Why would it do that?  I see two possible reasons:
1. Future speculators would think other people would want to speculate in the token, because there would be even more future speculators.  This is not sustainable in the long term.  This is what you are advocating for.

2. Future businesses need to publish data.  Factom will help them create value, and they will solve real world problems.  To access the system, they need to burn factoids.  This is sustainable.

You want us to stop work on a sustainable system, and build a more user friendly unsustainable system.  This is what I am hearing.

[Mrboot]

Brian,

I seen other coins make a wallet in less then a day, why not just have a wallet that people can store there coins on there computer on a way they are formiliar with.

And yes this week they ask about a wallet, last week about milestone2, doesnt that happen when you start a business you expect every person to be happy?

[whiteorg72]

Brian Deery, Last week you guys were wanting milestone2, this week you want a web wallet.  We find milestone 2 is a higher priority.  

Work on these two tasks can be done in parallel. Or you do not have programmers to do both these jobs in parallel?
Doing the work on these two tasks can be without prejudice to any of them.
---
Quote from: whiteorg72 on Today at 05:27:03 PM
We do not see works Milestone2 until now, for some reason , and before the end of 1Q 2016 only 11 days left!

Where did you get the idea that the azure blog was talking about milestone 2?

Brian Deery, Because you have bad information support, you keep us (your factom community) in almost total darkness with respect to new (tech) information, so i have to think out for yourself. If you care about your factom community and provide your factom community such as weekly or month report on the ongoing work on your project, it would not be incorrect information. You also does not provide that any even approximate dates of when such finished Milestone 2 will be released in the future, or other updates. Poor you do not know or do not want to give any specific dates on when a job you will be finished.

[crazyivan]

I'm sorry our incentives don't perfectly align.  I have a long term perspective, which includes passing the milestones.  My perspective extends beyond the next bubble.  


You are speculating on factoids.  Why?  Because the price will go up?  Why would it do that?  I see two possible reasons:
1. Future speculators would think other people would want to speculate in the token, because there would be even more future speculators.  This is not sustainable in the long term.  This is what you are advocating for.

2. Future businesses need to publish data.  Factom will help them create value, and they will solve real world problems.  To access the system, they need to burn factoids.  This is sustainable.

You want us to stop work on a sustainable system, and build a more user friendly unsustainable system.  This is what I am hearing.

This is really pointless, so I ll stay out of this discussion. Let s wait to see if you ll respect deadline for the milestone 2. I sincerely hope this happens.

[husky1971]

I'm sorry our incentives don't perfectly align.  I have a long term perspective, which includes passing the milestones.  My perspective extends beyond the next bubble.  


You are speculating on factoids.  Why?  Because the price will go up?  Why would it do that?  I see two possible reasons:
1. Future speculators would think other people would want to speculate in the token, because there would be even more future speculators.  This is not sustainable in the long term.  This is what you are advocating for.

2. Future businesses need to publish data.  Factom will help them create value, and they will solve real world problems.  To access the system, they need to burn factoids.  This is sustainable.

You want us to stop work on a sustainable system, and build a more user friendly unsustainable system.  This is what I am hearing.

This is really pointless, so I ll stay out of this discussion. Let s wait to see if you ll respect deadline for the milestone 2. I sincerely hope this happens.

It looks like the same as Ripple.
First use the factoids for the goodwill sponsor money after the goal reached. Than it is a side product and not the main product anymore.

[whiteorg72]

BrianDeery, please make do for your factom community normal working calendar, which will indicate what work is carried out on the project at the moment when these works are scheduled to finish, and will be listed in the work plan for the future and also the approximate timelines for each update in the project. It can be attached in the form of updated page to your official website. And also can provide a monthly progress Factom project report to the your factom community. This is a very good job for your factom community and the will raise the reputation of your team. I truly believe that you can do it. Thank you.

p.s. https://github.com/FactomProject/ - Github not suitable for the full replacement of the working calendar, for many people it is simply incomprehensible.

[BrianDeery]

First use the factoids for the goodwill sponsor money after the goal reached. Than it is a side product and not the main product anymore.

This would make sense if we actually got the money from the token sale.  Of the $450k raised, only $150k was released when we got to milestone 1.  The next $150k will be released by outside auditors when we get to milestone 2.

Factoids have always been a small part of a bigger project.  This was never hidden.  https://www.youtube.com/watch?v=X3rM2TQJt7o

[MisfiringNeuron]

Factom employees appear to have been trying to talk down the price of Factoids for quite some time now.  I've finally listened and sold most of my holdings.

From what I ascertain, a Factoid isn't meant to be worth $100.00.  It is meant to be a lot like Tether and fluctuate mildly around a certain price.  I believe that price is $1.00 per Factoid which is why Factom employees have been talking down the price.  They don't want anyone to get burnt too bad as milestones are reached.