[ANN] FACTOM - Introducing Honesty to Record-Keeping

[megaman84]

BTW, thx a lot Factom team. Due to your incompetence to deliver M2 on time, u ve cost us all a lot of money.

THANK YOU FOR THAT.

Actually, it's your incompetence as a trader/investor.  It's pretty easy to setup a hedge to protect yourself against moves contrary to your primary position.

Dude, this is fucking crypto investment, not fortune 500 $6 million investment. Who the fuck sets up a hedge for this unless u invest big time? I m no day trader of speculator like you, I structured and based my whole investment on Factom idea and the ability of the people behind this idea to deliver it. Also on the fact M2 will be delivered Q1. When it was not delivered within that date, the next promise was "just around the corner" after the end of Q1. Where are we now? 3 months after the end of Q1 is a bit too long.

That s why I am upset. Not cause of the amount invested cause it s not that significant anymore. I simply do not appreciate being lied to. I see you probably enjoy that since u do not mind.

Hy dude!

Its a good time to buy now I think and compensate the loss. I also didn't see that coming that FCT goes down below 20. Investors sold because of the BTC rise, thats the only reason why we see those low prices now....

Good luck!

[MyFarm]

BTW, thx a lot Factom team. Due to your incompetence to deliver M2 on time, u ve cost us all a lot of money.

THANK YOU FOR THAT.

Actually, it's your incompetence as a trader/investor.  It's pretty easy to setup a hedge to protect yourself against moves contrary to your primary position.

Dude, this is fucking crypto investment, not fortune 500 $6 million investment. Who the fuck sets up a hedge for this unless u invest big time? I m no day trader or speculator like you, I structured and based my whole investment on Factom idea and the ability of the people behind this idea to deliver it. Also on the fact M2 will be delivered Q1. When it was not delivered within that date, the next promise was "just around the corner" after the end of Q1. Where are we now? 3 months after the end of Q1 is a bit too long.

Early in my career I made similar mistakes to you.  However, rather than blame others, I took responsibility and evaluated how I could improve and even profit from the same or like scenarios in the future. 

Lesson 1: Software is never released on time.

[crazyivan]

BTW, thx a lot Factom team. Due to your incompetence to deliver M2 on time, u ve cost us all a lot of money.

THANK YOU FOR THAT.

Actually, it's your incompetence as a trader/investor.  It's pretty easy to setup a hedge to protect yourself against moves contrary to your primary position.

Dude, this is fucking crypto investment, not fortune 500 $6 million investment. Who the fuck sets up a hedge for this unless u invest big time? I m no day trader or speculator like you, I structured and based my whole investment on Factom idea and the ability of the people behind this idea to deliver it. Also on the fact M2 will be delivered Q1. When it was not delivered within that date, the next promise was "just around the corner" after the end of Q1. Where are we now? 3 months after the end of Q1 is a bit too long.

Early in my career I made similar mistakes to you.  However, rather than blame others, I took responsibility and evaluated how I could improve and even profit from the same or like scenarios in the future.  

Lesson 1: Software is never released on time.

Trust is overrated in crypto, I know that for a long time. Still, I keep trusting people cause I believe they re essentially good. My mistake.

[MyFarm]

All software has bugs that need fixed.  No big deal as long as the team has the capability to fix them.  I'm no programmer but I've had a couple analysts check the code and they assure me Factom programmers know what they're doing.

While there are areas Factom could improve and if I was a VC investing with them that would happen, overall, I'd say they're doing a good job and I see no reason to question their honesty.

*edit*  I see you ninja edited so my response doesn't make as much sense.  But I'll leave it as is.

[tempus]

Tiana Laurence - Insurance EXPO 2016: Factom
https://www.youtube.com/watch?v=zep_gQyi4jE

[Arvydas77]

Recently I've talked with some crypto investors about FCT and I was kind of disappointed about FCT price speculation. I'm not a day-trader and I do not bother myself about the drop of FCT price today. I see a lot of potential in Factom but only in long run period. My condolences for you who wish to exchange their FCT holdings to BTC. You have lost enough if you haven't sold it a few weeks ago but those who left on marathon run, in my opinion, will get rewards. I believe in Factom team despite some technological lag (it is not because they do not work hard or they do not know what they are doing but because they want to do their work as best as they can). Secondly, Factom offers what the world, governments and economies need. FCT is backed by information and everyone knows - who possess information that has a lot of money. So, for now, in my opinion, FCT is the best long term investment option.   

[kame]

I think that it is not the end of the drop of Factom. DAO and Waves are coming before it was Lisk jump to TOP 10 crypto. FCT really can go to nothing. From the technological point of view there are a lot of promises but no actual results.

Actually if you knew what you were talking about you would see that most alts are in free fall due to the BTC rise.

Agree. Many altos are affecting BTC rise. I am interested if DAO, WAVES, LISK can corroborate with Factom. And if possible, what kind of picture we can imagine of?

[Mrboot]

I Just visit the Entry credit store and found out that the Entry credits got cheaper ( a lot cheaper )

Wasnt the price 1000 entry coins for 20$ ? Now for $20 you can buy a total of 4000 entry coins.
No wonder the price is tanking like crazy.

Now you need at least more then 3,5k entrys each block to keep the dollar mark to level out with the inflation, this actually is
insane that they didnt even told anyone or keep a bloq post they just changed it. Is this a way to stock pile a lot Fct for themself.

At Tierion they still ask $25 for 1500 records a month.

Can we have feedback on this Factom Team, and what are the Future ideas about this can you just keep lower it and actually burn our coin price?
Do you actually care about investors that supported your project ?

I used to like this project a lot, but there to lazy to make any comment on the forum that can take up to 10 minutes, Bloq post are almost not made.

[The Bitcoin Co-op]

I wonder if they have adjusted the protocol's conversion rate? Proof of existence has become a competitive business, so it would make sense for them to lower prices. Insofar as Tierion is concerned, this competition will tell us a lot about the efficiency of centralized VS decentralized models... in the long run, the increasing number of clients will support the Factoid price (or Tierion's server upkeep). I still have some FCT in case milestone two comes out sometime this year, would would be a positive sign

[dealeris]

I Just visit the Entry credit store and found out that the Entry credits got cheaper ( a lot cheaper )

Wasnt the price 1000 entry coins for 20$ ? Now for $20 you can buy a total of 4000 entry coins.
No wonder the price is tanking like crazy.

Now you need at least more then 3,5k entrys each block to keep the dollar mark to level out with the inflation, this actually is
insane that they didnt even told anyone or keep a bloq post they just changed it. Is this a way to stock pile a lot Fct for themself.

At Tierion they still ask $25 for 1500 records a month.

Can we have feedback on this Factom Team, and what are the Future ideas about this can you just keep lower it and actually burn our coin price?
Do you actually care about investors that supported your project ?

I used to like this project a lot, but there to lazy to make any comment on the forum that can take up to 10 minutes, Bloq post are almost not made.

Entry credit price does not effect FCT price directly. From what i understand FCT is sold at market price and when converted to entry credits which are at a fixed rate.
So if the team reduced entry credit price it is actually beneficial to investors, because you can secure more data with each FCT you hold.

[Mrboot]

I Just visit the Entry credit store and found out that the Entry credits got cheaper ( a lot cheaper )

Wasnt the price 1000 entry coins for 20$ ? Now for $20 you can buy a total of 4000 entry coins.
No wonder the price is tanking like crazy.

Now you need at least more then 3,5k entrys each block to keep the dollar mark to level out with the inflation, this actually is
insane that they didnt even told anyone or keep a bloq post they just changed it. Is this a way to stock pile a lot Fct for themself.

At Tierion they still ask $25 for 1500 records a month.

Can we have feedback on this Factom Team, and what are the Future ideas about this can you just keep lower it and actually burn our coin price?
Do you actually care about investors that supported your project ?

I used to like this project a lot, but there to lazy to make any comment on the forum that can take up to 10 minutes, Bloq post are almost not made.

Entry credit price does not effect FCT price directly. From what i understand FCT is sold at market price and when converted to entry credits which are at a fixed rate.

So if the team reduced entry credit price it is actually beneficial to investors, because you can secure more data with each FCT you hold.

You will get a infation of 73k coins a month, that means with a value of $1 you need about 73k $ to stay at the same level.

73k dollar is about how many entry coins 4000 for $20 so you will need about 14,6 million entrys a month. thats equil to 3,4k entry coins a block.


So if the team reduced entry credit price it is actually beneficial to investors, because you can secure more data with each FCT you hold.

To answer your question about that i dont agree, investors dont buy to secure data but to gain value, and how less others need how lower the price will be eventually.

[crazyivan]

This is my initial remark from 3 months ago. Does the Factom team care equally about users of the platform, ie people who plan to store data, and initial investors. It does not seem so.

[Freckleg]

This is my initial remark from 3 months ago. Does the Factom team care equally about users of the platform, ie people who plan to store data, and initial investors. It does not seem so.

well changing the price of ECs without any communication is quite bad. This is an ICO coin, so there is a responsibility and liability from Factom to the investors they have asked to invest in their token.

[Mrboot]

This is my initial remark from 3 months ago. Does the Factom team care equally about users of the platform, ie people who plan to store data, and initial investors. It does not seem so.

well changing the price of ECs without any communication is quite bad. This is an ICO coin, so there is a responsibility and liability from Factom to the investors they have asked to invest in their token.

Yes indeed and without telling or even explaining why their starting to become a joke!

[Iron-X]

Tierion founder here.  I've seen some chatter here the past few days.  I just wanted to clarify a few things.

Tierion's Hash API is free.  Usage is capped at three records a second or 1,000 records per hour.  The average month has about 700 hours. This means you can send us 700,000 records per month at no charge.  If you need higher volume, then please contact us.

If you're a developer, the best place to learn about Tierion is http://tierion.com/docs

Several people have mentioned that Tierion is a centralized solution. I'd like to point out that blockchain receipts are portable.  You can store them anywhere you like, including in a decentralized system.  We think this is a superior approach to Factom's approach.  If you build an application on Factom, you're dependent on Factom's servers. If Factom fails, your application stops working. You have to continually acquire Factoids to write data to Factom. Or, you have to buy entry credits from middleman. With Tierion, your data and your blockchain receipts can be stored anywhere - even in another decentralized datastore. There is no long-term dependency on Tierion. While Factom has plans to someday be decentralized, it's still a long way off from reaching that goal.

I recommend that anyone who is considering investing in Factoids or using Factom in a project check out Tierion.  I think you'll find that developing with our API and tools is a much more pleasant experience than trying to work with Factom.

Here's a link to a thread on StackExchange talking about the differences between Tierion vs Factom:
http://bitcoin.stackexchange.com/questions/42900/what-are-the-key-differences-between-factom-and-tieron

I'm not going to respond to questions here.  I'll only say this.  Try not to be religious about technology.  Both Tierion and Factom have many competitors.  Do your homework to discover who they are, evaluate the technology on its merits, and use the tool thats right for your project.

Good luck!

[Freckleg]

Tierion founder here.  I've seen some chatter here the past few days.  I just wanted to clarify a few things.


Here'
Good luck!

Ok enough with the spam, Factom is Fortune 500 stuff. No comparison. The only thing lacking is communication and respect for investors. I am sure they Will sort that out soon. Factom will do great no doubt about that.

[flashbit]

C'mon guys we all know Factom is the future. Don't let these trolls steal your factoids. Patience is a virtue. Your reward is coming.

[flashbit]

This is my initial remark from 3 months ago. Does the Factom team care equally about users of the platform, ie people who plan to store data, and initial investors. It does not seem so.

well changing the price of ECs without any communication is quite bad. This is an ICO coin, so there is a responsibility and liability from Factom to the investors they have asked to invest in their token.

Hey as long as there is development (changes occuring on Github) lack of communication doesn't bother me. Once there is something substantial to communicate we will be sure to know via twitter, blogs, etc. To be honest I would rather the team focus on finishing the product then give us constant updates. Hope I'm not alone with this thinking.

[CocoLibre]

The prices on polo are wrong, FCT on yuanbao is trading close to 6 yuan a decent premium to current polo prices. Everyone is so spooked that bitcoin is gonna push another $100 they aren't willing to exercise arbitrage on BTC/FCT ratio. Also, to any whales out there loaning FCT sub .01% maybe you should stop giving out cheap ammo to shorts, appears most of the margin calls and weak hands have been flushed out but shorts can still press at nearly no cost at these lending rates.

[The Bitcoin Co-op]

Several people have mentioned that Tierion is a centralized solution. I'd like to point out that blockchain receipts are portable.  You can store them anywhere you like, including in a decentralized system.  We think this is a superior approach to Factom's approach.  If you build an application on Factom, you're dependent on Factom's servers. If Factom fails, your application stops working. You have to continually acquire Factoids to write data to Factom. Or, you have to buy entry credits from middleman. With Tierion, your data and your blockchain receipts can be stored anywhere - even in another decentralized datastore. There is no long-term dependency on Tierion. While Factom has plans to someday be decentralized, it's still a long way off from reaching that goal.

These are essentially arguments for the merits of a centralized solution. Reliance on Factom's federated server versus ones own or a third party's central server. I prefer for the machine that hashes my data and inserts it into the blockchain to be chosen at random. To me, the question is who can survive longer in a war to undercut each other's prices