[ANN] FACTOM - Introducing Honesty to Record-Keeping

[bandofgypsys]

Smartcontracts interesting, could move FCT in the neighborhood of ETH price

Think bigger TBH, the FCT coin supply is so low it's prone to violent market movements in the future. Crypto still has a small amount of liquidity floating around between the various coin markets. Any time aprx 2 billion comes in the market like this past spring, most top 20 coins exp'd a parabolic interest. Pair that with FCT's consistent addition of institutional clients and it's a ticking time bomb.

[tempus]

SMV: I think Factom is dumping on us. Straight into the buy support each time we get ready for break out. There is no blockchain explorer which seems intentional. I think they should disclose their market dealings to us.

Better read a few posts above bevor writing such nonsense. Blockexplorer is here: http://explorer.factom.org/

Where's the richlist? Where are FCT transactions? That is only entries. No sight of any 'money' being moved.

FCT transactions:

1) open http://explorer.factom.org
2) click on a block
3) scroll down
4) click on "Factoid Block" (http://explorer.factom.org/fblock/6231b2f1c0124c141043f47be3ebffe0e0cc7c5be9266b6cea1294de54b75691)

Richlist:

1) https://bittrex.com/Market/Index?MarketName=BTC-FCT
2) click on "Distribution" (even though that list looks wrong to me)

The "Richlist" is no richlist. It's the distribution of Factoids on the Bittrex-exchange.

That's what I thought, too. But honestly, a "real richlist" wouldn't tell you the truth eiter. Whales usually do split their funds into multiple wallets to obfuscate their balance.

Yes, true. Richlists are not that revealing. It can be interesting because at least it's possible to see if there are changes. But it's always possible that one person has 10 addresses with 10k each or something like that.

What I would be interested in: The distribution on Poloniex. And even more: I would like to see when huge amounts are deposited or withdrawn and who opens orders and when and buys and sells etc.

That would be advantages ;-)

I would like to see the team disclose their Factoid addresses and me being able to independently verify them.

I would like to see the team disclose when or how they sell their Factoids. Somebody is repeatedly dropping 100 BTCs on market for months like they don't care, any investor with that kind of money in a project wouldn't sell it like that. So that leaves founders who still hold a large amount of FCTs they're coincidentally very quiet about. It's all quite ironic for a project representing honesty and transparency to offer no transparency to FCT holders.

I am not asking for much. A decent blockchain explorer to track large addresses movements, and more transparency from the Factom team what they have done with their FCTs or what they will do with them in the future.

I'm not aware of any project that discloses private team members holdings. Does Dash do that? Does Ethereum do that? Does any other team of a major project do that?
It's like asking someone to show how much they hold in their bank accounts. That information should stay private and it is personal in my opinion.

There was a token sale and lots of people bought FCT at the time, what you see on Polo is simply normal speculation activity.
People buys low and sells high and if they hold many FCT of course they don't want to reck the market and get it below a certain point.
Also when FCT was first listed it was reeeeally cheap, so some people may have quite a good stock of them and are just playing the market to their advantage.

You seem to be obsessed by the fact that Factom is selling coins... Or you are just trolling for your own purposes. I don't think Factom Inc, the company, holds any Factoids. They also stated that if customers wanted to buy Entry Credits directly with FIAT or CC they can but in that event Factom Inc will go on the Open Market buy FCT at current market price and convert them to EC for customers.

The distribution of FCT as stated on this thread and during the token sale was 50% token sale, 20% early investors, 30% to people who contributed to the project.
There was a total of just over 8 million FCT. They are not many so it's very easy for a third party whale to stock up and make the good and bad weather on exchanges.

And the explorer can show you FCT transactions. Have a closer look. What you are looking for is something like blockscan.com does for XCP assets, but yes I don't know of many other explorers that allow you to do that.

Also a tool you are seeking or a way to see the top addresses like you are asking would allow you to predict the market somehow that's probably why you are so keen.
I have bought a few BTC worth of FCT during the token sale and I'm holding, I personally think FCT is undervalued but I don't do day trading I'm in it for the long run, wait to see what Factom comes up with in terms of partnerships, customers, and software releases. That's when the real value of FCT will come up. Right now it is purely driven by speculation and people that believes in the project who like me HODL!

Accusing Factom or their team members of selling FCT or rigging the market is silly, first everyone is free to do what they want with their money, second it is an open market and there are many players around with large pockets. See what's happening with ETC and ETH? The mother of all pumps?

Finally you seem to have come out late to the game, you got to accept that and make your own judgement before deciding where you put your money.

Absolutely agree!

The concerns of some, members of the team could have dumped can be thrown into garbage now. It would be stupid to sell right before an announcement.

Plus: Also no sign of insider-buying before the announcement.

I believe they are too professional to play such games. They want more than that.

[Freckleg]

Smartcontracts interesting, could move FCT in the neighborhood of ETH price

Think bigger TBH, the FCT coin supply is so low it's prone to violent market movements in the future. Crypto still has a small amount of liquidity floating around between the various coin markets. Any time aprx 2 billion comes in the market like this past spring, most top 20 coins exp'd a parabolic interest. Pair that with FCT's consistent addition of institutional clients and it's a ticking time bomb.

I you say so I have to agree 

[b1007]

nice updates, so is there a wallet available yet I can use? 

[tempus]

nice updates, so is there a wallet available yet I can use? 

Here you'll find everything: https://www.factom.com/howto/

[kim.apps]

It's a good day for this coin, a long-term project indeed.

[tempus]

Very interesting blog-article from Steven Masley:


How to Factom

I am Steven Masley, and I like Factom. That’s why I’m teaching you how to use and run it. This guide will make it easy for you to try out a blockchain technology.

I won second place in a global month long blockchain hackathon sponsored by Blockchain Education Network (BEN) by building a decentralized identification system on top on the Factom network. Through this, I landed an internship with the Factom team and have been in Austin throughout the 2016 summer.

To address the elephant in the room: I believe side chains serve a purpose for allowing more diverse use cases of blockchains, that can be implemented easier than through Bitcoin script. As the demand for blockchains increases, the Bitcoin network will have issues handling the new demand, potentially raising transaction fees. Side chains such as Factom allow incredible scaling of blockchain use, while reducing the load on the Bitcoin network.

(...)

https://medium.com/blockchain-education-network/how-to-factom-88471921929c#.dkt2o392k

[flashbit]

This looks promising! Making more inroads into China! Excellent!!!

Financial Network: the world's leading companies Factom block chain's CTO went on shore visits Kai exchange

http://industry.caijing.com.cn/20160725/4153114.shtml
http://www.madailicai.com/static/info/news/201607251041.html

July 21, Mr. Block world-renowned chain company Factom CTO Lvxu Jun (Jack Lu) came on shore Kai Information Technology Co., Ltd. (an Internet banking platform's sack Money) exchange visits. General manager Huang Haimin, block chain technology team introduced to Mr. Lvxu Jun Kai shore currently in the field of exploration of the block chain, the two sides on the block chain technology development and applications in the field of Internet banking conducted in-depth technical exchanges.



Factom CTO Lvxu Jun (second from right) and CEO Kai shore Huanghai Min (second from left) and other staff photo

Factom is a global leader in the tile-based chain technology for recording, verification, audit infrastructure services provider, the company is headquartered in Texas. Block chain has been at the forefront of technological innovation, and continue to shape the future of the block chain technology. Factom products to help businesses and government agencies to obtain data security in the use of the block chain technology, is not bound by the block chain technology inherent scalability limitations. Currently Factom companies are using this technology to help government departments and financial institutions to establish a variety of system interfaces, to achieve data security and records management. In June this year, Factom by the US Department of Homeland Security project allocations, the use of the block chain to improve networking security.

Block Chain (BlockChain) is the underlying technology with the birth of Bitcoin generated, also belong to one of an underlying Internet Protocol. With respect to Bitcoin in countries around the world suffer different treatment, the block chain as the underlying Internet technology and protocols, but are highly concerned about the financial world, the World Economic Forum, is a bold prediction, to 10% of world GDP in 2027 will be stored in chain network on the block. Internet financial sector, "block chain" Perhaps promising technology, and cost less than the traditional model. Some US and European financial institutions have pioneered the use of "block chain" technology, such as the US Nasdaq market private equity transactions Linq.

Haikai on Information Technology Co., Ltd. as a bank with strong technical strength of technology finance company, is the application level active exploration block chain technology. The technology exchange, Mr. Kay Lvxu Jun shore block chain team of technology and actively explore acknowledge and encourage.

Both sides said the chain block the underlying technical and application-level exchange of technology companies is only the beginning, the follow-up will continue to conduct in-depth exchanges and cooperation. We believe full play to each other's strengths, able to both bring more development opportunities, work together to promote the block chain technology in the financial sector of the Internet.

I'm thinking more to come on this baby. Very exciting!

[Waldozaur12]

I bought a little bit Factom today. This is my first purchases of this coin.

[flashbit]

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/other/12911389.html

Following the announcement Factom stated that the collaboration with SmartContract.com was “to create integration where we can leverage the publishing functionality of Factom to enable smart contracts to self-verify their conditions have been met. Factom will act as an “Oracle”, the trusted source of knowledge and the conduit of that knowledge, a new term we are calling “Acolyte” ”.

Coinsilium CEO Eddy Travia who was with Factom in Tokyo commented: “smart contracts are currently one of the most sought-after and exciting applications of blockchain technology. There has been a lot of discussion around them this year so Coinsilium is delighted that Factom is another of our investees who contributes to the development and use of smart contracts'.”

[tempus]

Not about Factom, but about a competitor, Stampery & Ethereum, and really interesting:


Stampery Drops Forked Ethereum Blockchain Support Due To Censorship Concerns
http://themerkle.com/stampery-drops-forked-ethereum-blockchain-support-due-to-censorship-concerns/


Why Stampery supports Ethereum Classic
https://medium.com/@Stampery/why-stampery-supports-ethereum-classic-4c86ec7cca17#.2ufi5ptwm
 


Edit: They should take a look at Factom:

"We can’t deny we might eventually see a decline on the Ethereum Classic blockchain. In that case, we will just switch to a more secure blockchain that can offer fast blocks and relatively high adoption."

[neo1947]

hi
l m with Factom from ICO and now decided to move some of my Factoids by using 12 words before initiating this transaction l have a question if anyone can assist me with,is there an option that l can move just fraction of my Factoids using 12 words on GUI wallet?
l have installed all necessary apps.

Regards

[tempus]

hi
l m with Factom from ICO and now decided to move some of my Factoids by using 12 words before initiating this transaction l have a question if anyone can assist me with,is there an option that l can move just fraction of my Factoids using 12 words on GUI wallet?
l have installed all necessary apps.

Regards

You can't import fractions but you can transact whatever amount you wish.

1. Import your Factoids with your passphrase into the wallet (GUI)
2. Transaction of whatever amount you wish


Possible step 3: If you want to hold some Factoids for longterm, I would recommend not to store them in the wallet but to use Factoid-papermill (paper-wallet-address-generator).

It's all here:
https://www.factom.com/howto/

[crazyivan]

Still expected more volume on such big news. Both ETH chains are still the main focus not having any major news ATM. Why?

[dranster]

Over 50k FACTOM SHORTS have been opened by whales...
Price will dump hard soon

Get ready 

[MyFarm]

Over 50k FACTOM SHORTS have been opened by whales...
Price will dump hard soon

Get ready 

They probably noticed that we won't be getting M2 today or until at least Monday. 

[tempus]

Over 50k FACTOM SHORTS have been opened by whales...
Price will dump hard soon

Get ready 

They probably noticed that we won't be getting M2 today or until at least Monday. 

Still low interest rate: 0.0298%

It's unusual because everytime(!) the price increased since Margin Trading was enabled, the interest rate went up to over 1%.

I don't care if they try to short it but it's nothing now in comparison to how it was shorted in the past. I've made some money because they paid good for it.

[bitcoinrocks]

Over 50k FACTOM SHORTS have been opened by whales...
Price will dump hard soon

Get ready 

They probably noticed that we won't be getting M2 today or until at least Monday. 

Is there any reason to think it's coming that quickly?  Last I heard it was "right around the corner" and that was a while back.

[neo1947]

hi
l m with Factom from ICO and now decided to move some of my Factoids by using 12 words before initiating this transaction l have a question if anyone can assist me with,is there an option that l can move just fraction of my Factoids using 12 words on GUI wallet?
l have installed all necessary apps.

Regards

You can't import fractions but you can transact whatever amount you wish.

1. Import your Factoids with your passphrase into the wallet (GUI)
2. Transaction of whatever amount you wish


Possible step 3: If you want to hold some Factoids for longterm, I would recommend not to store them in the wallet but to use Factoid-papermill (paper-wallet-address-generator).

It's all here:
https://www.factom.com/howto/

Thanks for quick respond
good day

[Freckleg]

Over 50k FACTOM SHORTS have been opened by whales...
Price will dump hard soon

Get ready 

They probably noticed that we won't be getting M2 today or until at least Monday. 

Shorting now is very risky business