[ANN] FACTOM - Introducing Honesty to Record-Keeping

[siaubas]

I am having trouble understanding how factom secures things on the blockchain.  I've read that the factom protocol places a simple hash on the blockchain but that information is kept off the blockchain on private servers.  First, what are "federated servers"  is that similar to dedicated?  And I am not sure I fully understand this on the blockchain but not on the blockchain protocol.  I do know that one of the reasons banks are weary of bitcoin but like the idea of ripple is the issue of public info on the blockchain.  All I can find are coin desk articles, the factom website, and bitcointalk but my question is more specific.  I am also a investor, like everyone else I guess.  Thank you.

A good place to start is with the whitepaper.  This will catch you up on the basics.

https://github.com/FactomProject/FactomDocs/blob/master/Factom_Whitepaper.pdf

If you still want more after digesting the 38 page whitepaper, we have another follow up paper with more details.

https://github.com/FactomProject/FactomDocs/blob/master/FactomLedgerbyConsensus.pdf

Brian, IMHO, Factom Inc should consider a name change. For example, Factom Utilities Inc.
There is just way way too much overlap and confusion in using the Factom name:

'Factom got funding', 'Factom is forking and implementing new possibilities', 'Factom reports it owns 5% of Factom', 'Company XYZ is going to provide services on Factom'.

Date Registered: Today at 05:56:49 AM

Understandable that it's all so confusing for you. But you'll learn. ;-)

Reading comprehension much?
There is no need to be a fanboy, even if you are a fan of Factom. I am one too.
It is NOT for me, it's for the other 99%.
You want a wider, less confused public, don't you? You don't see how for people the majority of non-tech savvy people it may be confusing?

[1714754893]

1714754893

[1714754893]

1714754893

[Azael]

If the buy side goes from 800 to 150 to 800, it implies one of three things. (a) is what actually happened.

(a) 650 bitcoins were dumped onto the market.
(b) 650 bitcoins were removed from the buy side by one person.
(c) 650 bitcoins were removed from the buy side simultaneously by many people.

(c) is highly unlikely. You seem to think that (b) is the answer. If that's the case, then the buy side for factom is in fact very weak. Fortunately its not. After the mega dump, the buys were all sold into. Well that's what happens when you dump. Recovered almost immediately as everyone wants to buy cheap.

Actually I removed my post because I realized I didn't want to get into a discussion about it.

None of your options are adequate but try out linked accounts on Polo and have Bitcoin on X account and Factom on Y account then trade with yourself and you'll figure out the technique. It is not possible to sell several percent of FCT per month for over a year in this fashion because you'd run out long ago and the last dump to 0.003 exposed just how much of the buy side was the MM and it was a lot.

I cannot prove this it is just a market theory like yours but the only thing that matters is that I think so and with that in mind I need a much larger margin of safety than currently hence why I am not buying here.

[siaubas]

I am having trouble understanding how factom secures things on the blockchain.  I've read that the factom protocol places a simple hash on the blockchain but that information is kept off the blockchain on private servers.  First, what are "federated servers"  is that similar to dedicated?  And I am not sure I fully understand this on the blockchain but not on the blockchain protocol.  I do know that one of the reasons banks are weary of bitcoin but like the idea of ripple is the issue of public info on the blockchain.  All I can find are coin desk articles, the factom website, and bitcointalk but my question is more specific.  I am also a investor, like everyone else I guess.  Thank you.

A good place to start is with the whitepaper.  This will catch you up on the basics.

https://github.com/FactomProject/FactomDocs/blob/master/Factom_Whitepaper.pdf

If you still want more after digesting the 38 page whitepaper, we have another follow up paper with more details.

https://github.com/FactomProject/FactomDocs/blob/master/FactomLedgerbyConsensus.pdf

Brian, IMHO, Factom Inc should consider a name change. For example, Factom Utilities Inc.
There is just way way too much overlap and confusion in using the Factom name:

'Factom got funding', 'Factom is forking and implementing new possibilities', 'Factom reports it owns 5% of Factom', 'Company XYZ is going to provide services on Factom'.

I think the name Factom is a lot better than Notary Chains, which is what the project started out as:
https://github.com/NotaryChains/NotaryChainDocs
https://www.youtube.com/watch?v=HN7ewkc9uiM

Just a thought. Many people might confuse buying Factoids as buying into Factom Inc. And then there will be a time when trolls would use that against you.
Maybe I am wrong, but I see potential problems down the road. It's your call. Thanks for the response.

[tempus]

I am having trouble understanding how factom secures things on the blockchain.  I've read that the factom protocol places a simple hash on the blockchain but that information is kept off the blockchain on private servers.  First, what are "federated servers"  is that similar to dedicated?  And I am not sure I fully understand this on the blockchain but not on the blockchain protocol.  I do know that one of the reasons banks are weary of bitcoin but like the idea of ripple is the issue of public info on the blockchain.  All I can find are coin desk articles, the factom website, and bitcointalk but my question is more specific.  I am also a investor, like everyone else I guess.  Thank you.

A good place to start is with the whitepaper.  This will catch you up on the basics.

https://github.com/FactomProject/FactomDocs/blob/master/Factom_Whitepaper.pdf

If you still want more after digesting the 38 page whitepaper, we have another follow up paper with more details.

https://github.com/FactomProject/FactomDocs/blob/master/FactomLedgerbyConsensus.pdf

Brian, IMHO, Factom Inc should consider a name change. For example, Factom Utilities Inc.
There is just way way too much overlap and confusion in using the Factom name:

'Factom got funding', 'Factom is forking and implementing new possibilities', 'Factom reports it owns 5% of Factom', 'Company XYZ is going to provide services on Factom'.

Date Registered: Today at 05:56:49 AM

Understandable that it's all so confusing for you. But you'll learn. ;-)

Reading comprehension much?
There is no need to be a fanboy, even if you are a fan of Factom. I am one too.
It is NOT for me, it's for the other 99%.
You want a wider, less confused public, don't you? You don't see how for people the majority of non-tech savvy people it may be confusing?

I don't see that people are confused like you are. I don't know of headlines like "Factom reports it owns 5% of Factom" etc. But maybe you can give sources where you've seen the stuff you say that it's confusing?

[siaubas]

I am having trouble understanding how factom secures things on the blockchain.  I've read that the factom protocol places a simple hash on the blockchain but that information is kept off the blockchain on private servers.  First, what are "federated servers"  is that similar to dedicated?  And I am not sure I fully understand this on the blockchain but not on the blockchain protocol.  I do know that one of the reasons banks are weary of bitcoin but like the idea of ripple is the issue of public info on the blockchain.  All I can find are coin desk articles, the factom website, and bitcointalk but my question is more specific.  I am also a investor, like everyone else I guess.  Thank you.

A good place to start is with the whitepaper.  This will catch you up on the basics.

https://github.com/FactomProject/FactomDocs/blob/master/Factom_Whitepaper.pdf

If you still want more after digesting the 38 page whitepaper, we have another follow up paper with more details.

https://github.com/FactomProject/FactomDocs/blob/master/FactomLedgerbyConsensus.pdf

Brian, IMHO, Factom Inc should consider a name change. For example, Factom Utilities Inc.
There is just way way too much overlap and confusion in using the Factom name:

'Factom got funding', 'Factom is forking and implementing new possibilities', 'Factom reports it owns 5% of Factom', 'Company XYZ is going to provide services on Factom'.

Date Registered: Today at 05:56:49 AM

Understandable that it's all so confusing for you. But you'll learn. ;-)

Reading comprehension much?
There is no need to be a fanboy, even if you are a fan of Factom. I am one too.
It is NOT for me, it's for the other 99%.
You want a wider, less confused public, don't you? You don't see how for people the majority of non-tech savvy people it may be confusing?

I don't see that people are confused like you are. I don't know of headlines like "Factom reports it owns 5% of Factom" etc. But maybe you can give sources where you've seen the stuff you say that it's confusing?

Again, reading comprehension.
These are the potential future headlines.
Anyways, thanks for the discussion and some insults =) Obviously, we cannot have a discussion when I'm talking about one thing, and you are talking about something else.

[BrianDeery]

I am having trouble understanding how factom secures things on the blockchain.  I've read that the factom protocol places a simple hash on the blockchain but that information is kept off the blockchain on private servers.  First, what are "federated servers"  is that similar to dedicated?  And I am not sure I fully understand this on the blockchain but not on the blockchain protocol.  I do know that one of the reasons banks are weary of bitcoin but like the idea of ripple is the issue of public info on the blockchain.  All I can find are coin desk articles, the factom website, and bitcointalk but my question is more specific.  I am also a investor, like everyone else I guess.  Thank you.

A good place to start is with the whitepaper.  This will catch you up on the basics.

https://github.com/FactomProject/FactomDocs/blob/master/Factom_Whitepaper.pdf

If you still want more after digesting the 38 page whitepaper, we have another follow up paper with more details.

https://github.com/FactomProject/FactomDocs/blob/master/FactomLedgerbyConsensus.pdf

I appreciate the white paper reference and I know about that, but I'm not a computer programmer.  Any articles that break it down into laymen terms?

The whitepaper does not have any code in it.  In my opinion, there might be a little too much fluff and exposition.  It is approachable by those who cannot read code.  Most, if not all your questions posted are answered in the whitepaper.

You are asking for a 5 minute read to "fully understand" the project.  It take would probably take a years worth of study to fully understand it.  If you won't even read the whitepaper, then it seems you do not want to understand Factom.

We do have some informative explainer videos.  These may help, and will only take a few minutes to watch.

https://www.youtube.com/watch?v=6NF7ZqaQHqs
https://www.youtube.com/watch?v=2Dj3qZeSLdY&list=PLz_L4-CmLmkf2hAcCEnM_5RM1Gs7XPuuN&index=2

[tempus]

I am having trouble understanding how factom secures things on the blockchain.  I've read that the factom protocol places a simple hash on the blockchain but that information is kept off the blockchain on private servers.  First, what are "federated servers"  is that similar to dedicated?  And I am not sure I fully understand this on the blockchain but not on the blockchain protocol.  I do know that one of the reasons banks are weary of bitcoin but like the idea of ripple is the issue of public info on the blockchain.  All I can find are coin desk articles, the factom website, and bitcointalk but my question is more specific.  I am also a investor, like everyone else I guess.  Thank you.

A good place to start is with the whitepaper.  This will catch you up on the basics.

https://github.com/FactomProject/FactomDocs/blob/master/Factom_Whitepaper.pdf

If you still want more after digesting the 38 page whitepaper, we have another follow up paper with more details.

https://github.com/FactomProject/FactomDocs/blob/master/FactomLedgerbyConsensus.pdf

Brian, IMHO, Factom Inc should consider a name change. For example, Factom Utilities Inc.
There is just way way too much overlap and confusion in using the Factom name:

'Factom got funding', 'Factom is forking and implementing new possibilities', 'Factom reports it owns 5% of Factom', 'Company XYZ is going to provide services on Factom'.

Date Registered: Today at 05:56:49 AM

Understandable that it's all so confusing for you. But you'll learn. ;-)

Reading comprehension much?
There is no need to be a fanboy, even if you are a fan of Factom. I am one too.
It is NOT for me, it's for the other 99%.
You want a wider, less confused public, don't you? You don't see how for people the majority of non-tech savvy people it may be confusing?

I don't see that people are confused like you are. I don't know of headlines like "Factom reports it owns 5% of Factom" etc. But maybe you can give sources where you've seen the stuff you say that it's confusing?

Again, reading comprehension.
These are the potential future headlines.
Anyways, thanks for the discussion and some insults =) Obviously, we cannot have a discussion when I'm talking about one thing, and you are talking about something else.

Ok Nostradamus.

[Jjtjjt]

I am having trouble understanding how factom secures things on the blockchain.  I've read that the factom protocol places a simple hash on the blockchain but that information is kept off the blockchain on private servers.  First, what are "federated servers"  is that similar to dedicated?  And I am not sure I fully understand this on the blockchain but not on the blockchain protocol.  I do know that one of the reasons banks are weary of bitcoin but like the idea of ripple is the issue of public info on the blockchain.  All I can find are coin desk articles, the factom website, and bitcointalk but my question is more specific.  I am also a investor, like everyone else I guess.  Thank you.

A good place to start is with the whitepaper.  This will catch you up on the basics.

https://github.com/FactomProject/FactomDocs/blob/master/Factom_Whitepaper.pdf

If you still want more after digesting the 38 page whitepaper, we have another follow up paper with more details.

https://github.com/FactomProject/FactomDocs/blob/master/FactomLedgerbyConsensus.pdf

I appreciate the white paper reference and I know about that, but I'm not a computer programmer.  Any articles that break it down into laymen terms?

The whitepaper does not have any code in it.  In my opinion, there might be a little too much fluff and exposition.  It is approachable by those who cannot read code.  Most, if not all your questions posted are answered in the whitepaper.

You are asking for a 5 minute read to "fully understand" the project.  It take would probably take a years worth of study to fully understand it.  If you won't even read the whitepaper, then it seems you do not want to understand Factom.

We do have some informative explainer videos.  These may help, and will only take a few minutes to watch.

https://www.youtube.com/watch?v=6NF7ZqaQHqs
https://www.youtube.com/watch?v=2Dj3qZeSLdY&list=PLz_L4-CmLmkf2hAcCEnM_5RM1Gs7XPuuN&index=2

I glanced at the white paper, but I'll give it more than a cursory glance this time round.  I was hoping factom "could" be surmised in a paragraph, but if it can't no big deal.  Also Brian, are you part of the factom team?  Reason I asked is you used the word "we" Thank you

[tempus]

I am having trouble understanding how factom secures things on the blockchain.  I've read that the factom protocol places a simple hash on the blockchain but that information is kept off the blockchain on private servers.  First, what are "federated servers"  is that similar to dedicated?  And I am not sure I fully understand this on the blockchain but not on the blockchain protocol.  I do know that one of the reasons banks are weary of bitcoin but like the idea of ripple is the issue of public info on the blockchain.  All I can find are coin desk articles, the factom website, and bitcointalk but my question is more specific.  I am also a investor, like everyone else I guess.  Thank you.

A good place to start is with the whitepaper.  This will catch you up on the basics.

https://github.com/FactomProject/FactomDocs/blob/master/Factom_Whitepaper.pdf

If you still want more after digesting the 38 page whitepaper, we have another follow up paper with more details.

https://github.com/FactomProject/FactomDocs/blob/master/FactomLedgerbyConsensus.pdf

I appreciate the white paper reference and I know about that, but I'm not a computer programmer.  Any articles that break it down into laymen terms?

The whitepaper does not have any code in it.  In my opinion, there might be a little too much fluff and exposition.  It is approachable by those who cannot read code.  Most, if not all your questions posted are answered in the whitepaper.

You are asking for a 5 minute read to "fully understand" the project.  It take would probably take a years worth of study to fully understand it.  If you won't even read the whitepaper, then it seems you do not want to understand Factom.

We do have some informative explainer videos.  These may help, and will only take a few minutes to watch.

https://www.youtube.com/watch?v=6NF7ZqaQHqs
https://www.youtube.com/watch?v=2Dj3qZeSLdY&list=PLz_L4-CmLmkf2hAcCEnM_5RM1Gs7XPuuN&index=2

I glanced at the white paper, but I'll give it more than a cursory glance this time round.  I was hoping factom "could" be surmised in a paragraph, but if it can't no big deal.  Also Brian, are you part of the factom team?  Reason I asked is you used the word "we" Thank you

The FAQ's could be a good place to start:
https://www.factom.com/about/faqs

[Jjtjjt]

I am having trouble understanding how factom secures things on the blockchain.  I've read that the factom protocol places a simple hash on the blockchain but that information is kept off the blockchain on private servers.  First, what are "federated servers"  is that similar to dedicated?  And I am not sure I fully understand this on the blockchain but not on the blockchain protocol.  I do know that one of the reasons banks are weary of bitcoin but like the idea of ripple is the issue of public info on the blockchain.  All I can find are coin desk articles, the factom website, and bitcointalk but my question is more specific.  I am also a investor, like everyone else I guess.  Thank you.

A good place to start is with the whitepaper.  This will catch you up on the basics.

https://github.com/FactomProject/FactomDocs/blob/master/Factom_Whitepaper.pdf

If you still want more after digesting the 38 page whitepaper, we have another follow up paper with more details.

https://github.com/FactomProject/FactomDocs/blob/master/FactomLedgerbyConsensus.pdf

I appreciate the white paper reference and I know about that, but I'm not a computer programmer.  Any articles that break it down into laymen terms?

The whitepaper does not have any code in it.  In my opinion, there might be a little too much fluff and exposition.  It is approachable by those who cannot read code.  Most, if not all your questions posted are answered in the whitepaper.

You are asking for a 5 minute read to "fully understand" the project.  It take would probably take a years worth of study to fully understand it.  If you won't even read the whitepaper, then it seems you do not want to understand Factom.

We do have some informative explainer videos.  These may help, and will only take a few minutes to watch.

https://www.youtube.com/watch?v=6NF7ZqaQHqs
https://www.youtube.com/watch?v=2Dj3qZeSLdY&list=PLz_L4-CmLmkf2hAcCEnM_5RM1Gs7XPuuN&index=2

I glanced at the white paper, but I'll give it more than a cursory glance this time round.  I was hoping factom "could" be surmised in a paragraph, but if it can't no big deal.  Also Brian, are you part of the factom team?  Reason I asked is you used the word "we" Thank you

Nevermind, Brian Deery, Chief Scientist at Factom, Google search

[spacezx]

GrossBit = return of the troll master  

[D-Lux]

The biggest competitor I see is Status Quo.  They have a huge market lead.  While their security isn't as good, and their documents are subject to tampering, the business types often prefer that style of technology.

I think this is why popular understanding/support is so important. As others have said before, certain large corporations and governments might not be naturally inclined, let's say, to change their ways, esp if they're benefiting from the inequities. Once ppl realize what can be done, though, it makes sense that they (the citizens and shareholders) would demand that transparency of their leadership.

I also think this could have a pretty strong Dominio effect. Once one major corp / gov't goes full-transparency—once those test cases are proven—I think it would naturally follow that others would feel increasing pressured to do the same.

And then, in the blink of an eye ... totally fair world.

[schnib]

And to all those guys thinking that someone is manipulating the market:

I think this is just stupid FUD all the time.
It is just possible to make money of "manipulating" if ppl buy or sell on panic or make stupid moves at all. Otherwise if a big whale moves the market he is the one who looses the most.

How do you call it if within a second the buy side drops from 800 BTC to 150 BTC and goes to 800 BTC again 5min later? If that is not manipulation you're either naive or don't know the meaning of the word manipulation.

This is btw something you go to jail in a lot of countries. Waiting for the day these laws also apply to crypto.

why should yo go into jail because you remove your orders ?

[Mimir]

If you still want more after digesting the 38 page whitepaper, we have another follow up paper with more details.

https://github.com/FactomProject/FactomDocs/blob/master/FactomLedgerbyConsensus.pdf

Haha classic.

"Here's the whitepaper, once you done there, there's also 28 pages of consensus protocol."

Factom is not an easy thing to wrap one's head around at first.

I understand why people don't wan't to read white papers, but then asking if they can 'just get a paragraph'? You could get a summary of it sure, but in the end you'll likely just get marketing that has nothing to do with the underlying technology, and with that no real understanding. There's no short-cuts in life mate.

[Jjtjjt]

I am having trouble understanding how factom secures things on the blockchain.  I've read that the factom protocol places a simple hash on the blockchain but that information is kept off the blockchain on private servers.  First, what are "federated servers"  is that similar to dedicated?  And I am not sure I fully understand this on the blockchain but not on the blockchain protocol.  I do know that one of the reasons banks are weary of bitcoin but like the idea of ripple is the issue of public info on the blockchain.  All I can find are coin desk articles, the factom website, and bitcointalk but my question is more specific.  I am also a investor, like everyone else I guess.  Thank you.

A good place to start is with the whitepaper.  This will catch you up on the basics.

https://github.com/FactomProject/FactomDocs/blob/master/Factom_Whitepaper.pdf

If you still want more after digesting the 38 page whitepaper, we have another follow up paper with more details.

https://github.com/FactomProject/FactomDocs/blob/master/FactomLedgerbyConsensus.pdf

I appreciate the white paper reference and I know about that, but I'm not a computer programmer.  Any articles that break it down into laymen terms?

The whitepaper does not have any code in it.  In my opinion, there might be a little too much fluff and exposition.  It is approachable by those who cannot read code.  Most, if not all your questions posted are answered in the whitepaper.

You are asking for a 5 minute read to "fully understand" the project.  It take would probably take a years worth of study to fully understand it.  If you won't even read the whitepaper, then it seems you do not want to understand Factom.

We do have some informative explainer videos.  These may help, and will only take a few minutes to watch.

https://www.youtube.com/watch?v=6NF7ZqaQHqs
https://www.youtube.com/watch?v=2Dj3qZeSLdY&list=PLz_L4-CmLmkf2hAcCEnM_5RM1Gs7XPuuN&index=2

Brian,

I just finished reading the whitepaper.  I am still confused about the servers.  The servers act as a node like in bitcoin.  Are these servers run by people are are they all owned and operated by factom.  Also I read somewhere that there is a limit on the total number of federated servers.  I am assuming a federated server is like a dedicated server, just bigger.  And is there a factom rich list?

[MyFarm]

I am having trouble understanding how factom secures things on the blockchain.  I've read that the factom protocol places a simple hash on the blockchain but that information is kept off the blockchain on private servers.  First, what are "federated servers"  is that similar to dedicated?  And I am not sure I fully understand this on the blockchain but not on the blockchain protocol.  I do know that one of the reasons banks are weary of bitcoin but like the idea of ripple is the issue of public info on the blockchain.  All I can find are coin desk articles, the factom website, and bitcointalk but my question is more specific.  I am also a investor, like everyone else I guess.  Thank you.

A good place to start is with the whitepaper.  This will catch you up on the basics.

https://github.com/FactomProject/FactomDocs/blob/master/Factom_Whitepaper.pdf

If you still want more after digesting the 38 page whitepaper, we have another follow up paper with more details.

https://github.com/FactomProject/FactomDocs/blob/master/FactomLedgerbyConsensus.pdf

I appreciate the white paper reference and I know about that, but I'm not a computer programmer.  Any articles that break it down into laymen terms?

The whitepaper does not have any code in it.  In my opinion, there might be a little too much fluff and exposition.  It is approachable by those who cannot read code.  Most, if not all your questions posted are answered in the whitepaper.

You are asking for a 5 minute read to "fully understand" the project.  It take would probably take a years worth of study to fully understand it.  If you won't even read the whitepaper, then it seems you do not want to understand Factom.

We do have some informative explainer videos.  These may help, and will only take a few minutes to watch.

https://www.youtube.com/watch?v=6NF7ZqaQHqs
https://www.youtube.com/watch?v=2Dj3qZeSLdY&list=PLz_L4-CmLmkf2hAcCEnM_5RM1Gs7XPuuN&index=2

Brian,

I just finished reading the whitepaper.  I am still confused about the servers.  The servers act as a node like in bitcoin.  Are these servers run by people are are they all owned and operated by factom.  Also I read somewhere that there is a limit on the total number of federated servers.  I am assuming a federated server is like a dedicated server, just bigger.  And is there a factom rich list?

1.  By M3, who is a Federated and who is an Audit servers will be voted for by users of Entry Credits.  It could end up being you or me.  M3 will make it a decentralized system.  M2 will be centralized and Factom appears to be choosing who is running those servers.

2.  I suspect initially a Federated or Audit server could be run on a VPS.  I also suspect, in time, Federated and Audit servers will require MUCH MORE computing power as use of the protocol grows.

3.  www.factom.live for the rich list -- it is widely suspected the top is Poloniex's cold wallet.

[Jjtjjt]

I am having trouble understanding how factom secures things on the blockchain.  I've read that the factom protocol places a simple hash on the blockchain but that information is kept off the blockchain on private servers.  First, what are "federated servers"  is that similar to dedicated?  And I am not sure I fully understand this on the blockchain but not on the blockchain protocol.  I do know that one of the reasons banks are weary of bitcoin but like the idea of ripple is the issue of public info on the blockchain.  All I can find are coin desk articles, the factom website, and bitcointalk but my question is more specific.  I am also a investor, like everyone else I guess.  Thank you.

A good place to start is with the whitepaper.  This will catch you up on the basics.

https://github.com/FactomProject/FactomDocs/blob/master/Factom_Whitepaper.pdf

If you still want more after digesting the 38 page whitepaper, we have another follow up paper with more details.

https://github.com/FactomProject/FactomDocs/blob/master/FactomLedgerbyConsensus.pdf

I appreciate the white paper reference and I know about that, but I'm not a computer programmer.  Any articles that break it down into laymen terms?

The whitepaper does not have any code in it.  In my opinion, there might be a little too much fluff and exposition.  It is approachable by those who cannot read code.  Most, if not all your questions posted are answered in the whitepaper.

You are asking for a 5 minute read to "fully understand" the project.  It take would probably take a years worth of study to fully understand it.  If you won't even read the whitepaper, then it seems you do not want to understand Factom.

We do have some informative explainer videos.  These may help, and will only take a few minutes to watch.

https://www.youtube.com/watch?v=6NF7ZqaQHqs
https://www.youtube.com/watch?v=2Dj3qZeSLdY&list=PLz_L4-CmLmkf2hAcCEnM_5RM1Gs7XPuuN&index=2

Brian,

I just finished reading the whitepaper.  I am still confused about the servers.  The servers act as a node like in bitcoin.  Are these servers run by people are are they all owned and operated by factom.  Also I read somewhere that there is a limit on the total number of federated servers.  I am assuming a federated server is like a dedicated server, just bigger.  And is there a factom rich list?

1.  By M3, who is a Federated and who is an Audit servers will be voted for by users of Entry Credits.  It could end up being you or me.  M3 will make it a decentralized system.  M2 will be centralized and Factom appears to be choosing who is running those servers.

2.  I suspect initially a Federated or Audit server could be run on a VPS.  I also suspect, in time, Federated and Audit servers will require MUCH MORE computing power as use of the protocol grows.

3.  www.factom.live for the rich list -- it is widely suspected the top is Poloniex's cold wallet.

Thanks buddy!!!

[D-Lux]

Paul Snow has generously agreed to have me interview him for CryptoCompare. First, thanks to tdkmatt for making this possible.

I asked Paul if he would be OK with me soliciting questions from the community on this thread, and he said it would be fine. So: If you have questions you’d like me to ask Paul, please PM me here or on Reddit (same username).

As everyone knows, Snow & Co. are working overtime on development. So I’m not going to be able to ask him everything we might want to hear about. I plan to send him a bunch of questions, though, and let him choose whichever ones he’s most interested in responding to.

Please also be aware that this will be for a general crypto audience, so questions about some of the more nitty-gritty tech details might not be appropriate. (This thread, with Paul and Brian’s recent posts, is probably the best place for that.)

Also, I’ve obviously had disagreements with some users of this forum in the past. However if anyone wants to send a possible question, please feel free to do so.

[MyFarm]

Paul Snow has generously agreed to have me interview him for CryptoCompare. First, thanks to tdkmatt for making this possible.

I asked Paul if he would be OK with me soliciting questions from the community on this thread, and he said it would be fine. So: If you have questions you’d like me to ask Paul, please PM me here or on Reddit (same username).

As everyone knows, Snow & Co. are working overtime on development. So I’m not going to be able to ask him everything we might want to hear about. I plan to send him a bunch of questions, though, and let him choose whichever ones he’s most interested in responding to.

Please also be aware that this will be for a general crypto audience, so questions about some of the more nitty-gritty tech details might not be appropriate. (This thread, with Paul and Brian’s recent posts, is probably the best place for that.)

Also, I’ve obviously had disagreements with some users of this forum in the past. However if anyone wants to send a possible question, please feel free to do so. 100% open submission …

Are there major bugs with M2 they're struggling to figure out or are they just polishing at this point?

[GrossBit]

GrossBit trolling and giving fake information...

I'll let you judge that.

every of the 158 co-investors of the series A funding received daily emails telling them the deal was oversuscribed (i cut the top because there is personal info)



What you could see directly on bnktothefuture site, until a few days ago was that:



and now its this



(figures in JPY as i'm based in Japan, 1 USD = roughly 100 JPY, so the first figure consistent with the 5.3M USD, the second one with the final 4.2M USD)


TLDR: during an equity sale, there was misrepresentation of information to investors. They were led to believe the deal was oversuscribed (while still open !) and at least 13 people invested on the last day on the basis of that information (number of backers reported on the email was 145 1 day before, the final number of backers is 158 !!!) BUT the amount subscribed in the end was 4.2M only, 1M less than announced, and all that information was still there a few days ago, before it was swiftly removed from the bnktothefuture site at the same time (some hours later to be exact) after the press releases.


This is absolutely illegal. You don't need maliciousness to make some illegal (= go over a speed limit without being aware for example, kill somebody by "mistake" by prescribing wrong medicine etc...). If there is maliciousness , you can call it a federal crime. If this a registered SEC sale it could be subject to fines and perhaps more.

read the whole story, and follow me on reddit/ethtrader and reddit/factom

https://www.reddit.com/r/factom/comments/55x0sr/tim_draper_leads_42_million_series_a_for/?sort=new

PS. don't worry i won't file any complaint, after all i am an investor as well and don't want to shoot in my own foot. But i don't like to be treated like a fool. You can count on me to stay vigilant.