[ANN] FACTOM - Introducing Honesty to Record-Keeping

[crazyivan]

Well, speculators are gonna make a lot of money again. But that s crypto, ups and downs. Maybe finally we re about to see the emergence of BTC halving induced growth.

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[Mrboot]

And yet another really red day for factom I will buy all your coins at sub 100k

It's not really a red day for Factom. Bitcoin is rising, so others are falling. Take a look at ETH or even DGB. A lot of overreaction because of the Bitcoin-awakening.

So from 475 to 375 isn't a big red day ? Seriously your full of it.

[tempus]

And yet another really red day for factom I will buy all your coins at sub 100k

It's not really a red day for Factom. Bitcoin is rising, so others are falling. Take a look at ETH or even DGB. A lot of overreaction because of the Bitcoin-awakening.

So from 475 to 375 isn't a big red day ? Seriously your full of it.

Just saying it's not because of Factom, so it's not a red day for Factom.

But we all together can cry a little because of the price/s.

[Mrboot]

Actually when factom lost value today it is a red day simple, excuses like btc did good today doesn't cut it.

People are leaving Fct cause there so damn slow! Oke they have good talkers Paul snow mainly but come one
A working wallet is too much work, announcements about development we don't hear cause they doesn't wanna disappoint the people come on! I liked factom a lot and I made some nice bucks but I'm happy I sold at 470k and now I can only feel more good about it.

Good job factom team your losing your initial investors one by one!

Ow and thx for answering the question I asked here like four times ! Really costumer service orientated I'm surly never ever will support factom again

[tempus]

Actually when factom lost value today it is a red day simple, excuses like btc did good today doesn't cut it.

People are leaving Fct cause there so damn slow! Oke they have good talkers Paul snow mainly but come one
A working wallet is too much work, announcements about development we don't hear cause they doesn't wanna disappoint the people come on! I liked factom a lot and I made some nice bucks but I'm happy I sold at 470k and now I can only feel more good about it.

Good job factom team your losing your initial investors one by one!

Ow and thx for answering the question I asked here like four times ! Really costumer service orientated I'm surly never ever will support factom again

Like I've said before: I understand criticism about the wallet. But if critique correlates with the up and down of the price, it could seem as if it's just about the price. And the price dropped because of Bitcoin, that's a simple fact. Nearly all Cryptos with some volume reacted immediately. In general it's not the best idea to mix criticism with price-complaining.

And just by the way: Especially the price is nothing to complain about. Just the last 4 weeks: +65% (and in between the bubble with much more). If you should be right that they lose early investors, and I have some doubts about that, it seems as if a lot new people come in every day. Take a look at the volume and how it increased the last weeks.

So, be happy about your decision to sell. But my guess is: You shouldn't expect community-babysitting because of price-crying. ;-)

[The Bitcoin Co-op]

Actually when factom lost value today it is a red day simple, excuses like btc did good today doesn't cut it.

People are leaving Fct cause there so damn slow! Oke they have good talkers Paul snow mainly but come one
A working wallet is too much work, announcements about development we don't hear cause they doesn't wanna disappoint the people come on! I liked factom a lot and I made some nice bucks but I'm happy I sold at 470k and now I can only feel more good about it.

Good job factom team your losing your initial investors one by one!

Ow and thx for answering the question I asked here like four times ! Really costumer service orientated I'm surly never ever will support factom again

So what, you expect it to be in the green every single day? No stock, commodity or coin on planet Earth does that--that's a ridiculous thing to expect. Short-term crashes are part of a long-term rise.

[crazyivan]

It all comes down to Milestone 2 data. 3 days till the end of Q1. Hope to get at least some news before the end of this month.

[Mrboot]

It all comes down to Milestone 2 data. 3 days till the end of Q1. Hope to get at least some news before the end of this month.

They already said that Q1 wasn't a deadline so they prob not making it in Q1, and that's when people gonna sell out

[Cryptorials]

Could somebody please tell me what 'milestone 2' is?

[tempus]

Could somebody please tell me what 'milestone 2' is?

The 3 Milestones are like 3 steps to the full system.



Quoting Paul Snow from the AmA:

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

[Cryptorials]

The 3 Milestones are like 3 steps to the full system.



Quoting Paul Snow from the AmA:

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

Thank you very much

[crazyivan]

I think Paul said Milestone 2 would be published when it s done. Still, even early 2016 deadline does not mean September.

[amirmass]

Factom going to be on Microsoft Azure? is that true?

[Mrboot]

Factom can you please for ones answer a question about the burn rate ?

There is an average of around 100 entry's a block atm (http://explorer.factom.org/?page=1)

This is mainly done with entry credits if i read this blockchain right, factoid entry's.

If the Entry credits cost $20 each 1000 entry's (https://www.factom.com/entry-credits/)
Then would mean every block has around the $2 burn rate or am i thinking wrong ?
What would be around 1 FCT each 10 minutes around this rate.

But the burn rate is extreamly lower then that atm, how is this possible?

Are you using your Factoids to sell for entry coins against a diffrent rate ? or did i made a wrong calculation?

Can you finaly answer for ones cause i asked this like 3 times already now.

[BrianDeery]

This is mainly done with entry credits if i read this blockchain right, factoid entry's.

Using entry credits is the only way to add data into the system.

If the Entry credits cost $20 each 1000 entry's

This is the retail price.  the current network rate can be found in the explorer in the factoid block under the "ExchRate" field. this is the factoshi/entry credit rate, how many factoshis (10^-8 factoids) it takes to get 1 entry credit.

But the burn rate is extreamly lower then that atm, how is this possible?

Factoids are burned when ECs are purchased, not when those ECs are used.  The ECs were purchased earlier.

Are you using your Factoids to sell for entry coins against a diffrent rate ?

Yes, retail price is higher than wholesale price.

[FACTOM]

Factom Technical Update: Binaries v0.3.6

We are thrilled to announce new Factom binaries and installers. They are now available on GitHub for Windows, Mac and Linux.
We have improved security, reliability, and compatibility. The new binaries also have a faster test environment setup and in-house integration/deployment.
To get started, follow our guides for step by step instructions on how to install and use our software.

“With this release we have developed techniques to locally simulate nodes in China.
This will allow us to test and debug problems arising from transoceanic networks.” – Brian Deery, Chief Scientist

“Now configuring both local and remote factomd is easier and faster.
In a matter of seconds, all the entries of a user chain can be obtained by running one simple cli command.” – Veena Gondkar, Senior QA Analyst

We are nearing our second milestone. As you may have noticed, we have launched the Factom Store, where you can purchase Entry Credits.
We will soon be testing other aspects of our second milestone. You can see our progress here.

Find out more on our new blog: https://www.factom.com/factom-technical-update-binaries-v0-3-6/

[Mrboot]

This is mainly done with entry credits if i read this blockchain right, factoid entry's.

Using entry credits is the only way to add data into the system.

If the Entry credits cost $20 each 1000 entry's

This is the retail price.  the current network rate can be found in the explorer in the factoid block under the "ExchRate" field. this is the factoshi/entry credit rate, how many factoshis (10^-8 factoids) it takes to get 1 entry credit.

But the burn rate is extreamly lower then that atm, how is this possible?

Factoids are burned when ECs are purchased, not when those ECs are used.  The ECs were purchased earlier.

Are you using your Factoids to sell for entry coins against a diffrent rate ?

Yes, retail price is higher than wholesale price.

What i dont understand is if the retail price is much more expansive then the Factoid price atm,

2 factoids entry will burn
-0.00576000                   with a exchangerate ExchRate":48000

So if your all selling the Entry coins now and burning your factoids for that, doesnt that mean that your taking a profit on top of your
factoids and for every entry coins you sell you can buy more coins?

And your burn rate should be higher if you actually burn the true value of Entry coins used ?

 

[crazyivan]

Factom Technical Update: Binaries v0.3.6

We are thrilled to announce new Factom binaries and installers. They are now available on GitHub for Windows, Mac and Linux.
We have improved security, reliability, and compatibility. The new binaries also have a faster test environment setup and in-house integration/deployment.
To get started, follow our guides for step by step instructions on how to install and use our software.

“With this release we have developed techniques to locally simulate nodes in China.
This will allow us to test and debug problems arising from transoceanic networks.” – Brian Deery, Chief Scientist

“Now configuring both local and remote factomd is easier and faster.
In a matter of seconds, all the entries of a user chain can be obtained by running one simple cli command.” – Veena Gondkar, Senior QA Analyst

We are nearing our second milestone. As you may have noticed, we have launched the Factom Store, where you can purchase Entry Credits.
We will soon be testing other aspects of our second milestone. You can see our progress here.

Find out more on our new blog: https://www.factom.com/factom-technical-update-binaries-v0-3-6/

Yes! Good stuff, finally some progress update. Factom store link does not work, at least in my case.

[BlackJacky]

Folks,

I am not very tech savy and have bought at the beginning over koinify some fct. I have my adress and also my 12 words password. How can I make send the fct to another address?

Thanks in advance

[FACTOM]

Folks,

I am not very tech savy and have bought at the beginning over koinify some fct. I have my adress and also my 12 words password. How can I make send the fct to another address?

Thanks in advance

Check our guides here: https://factom.com/howto