[ANN] FACTOM - Introducing Honesty to Record-Keeping

[D-Lux]

Can a mod delete any more XEM posts, this thread is about discussing Factom. Take the XEM discussion here https://bitcointalk.org/index.php?topic=654845.28540 and stop hijacking the thread, thanks.

+1, this thread is about FCT.

XEM volume and value are going down like hell, soon it will be of zero relevance joining coins like 1CR, rofl...so these XEM trolls are now going into overdrive. The fact that you have to spam the thread of the competing (and miles ahead) technology with spam about a shitcoin is just saying a lot about the same shitcoin.

+2. The NEM/XEM posts began with GrossBit and were followed up by his minions, as has been the case with 3-4 other "controversies" and FUD campaigns over the past two months. Check the histories.

I realize some people on here are nonconfrontational, and some may actually be confused by the sophistication of these guys. If I hadn't spent my professional life studying language and rhetoric, I may have been confused as well.

The latest posts from Troll #1 and a minion (or puppet), just FYI:

https://www.reddit.com/r/factom/comments/5bumdv/fct_price_trading_weekly_discussion_week_of/

Reminds me of a quote from Tennyson: “A lie that is half-truth is the darkest of all lies.”

I'll also repeat what I wrote weeks ago, that one of the main problems with this kind of trolling is that it becomes difficult to tell real criticism from FUD. Factom does indeed have its problems and uncertainties, and all this "crying wolf" threatens to obfuscate the real issues when they arise.

Anyway, looking forward to M2 when the trolls have a change of heart—or disappear, and another round of noob hypers jump on board, with remarkably similar writing styles to the previous trolls ...

Great post. Couldnt agree with all you wrote more.

if you quote me, quote me fully

No one quoted you. The only direct quote above was from Tennyson. You realize you're not Alfred Tennyson, correct?

1- i've turned ST bullish on FCT a few posts ago (up to 0.0041-0.0425 area) and favour a BTD approach from now on.
2- Ostrich policy won't help you make good investing decisions. XEM volume is much lower than FCT. There are quite some negatives on this coin
but this Apostille announcement is a new positive surprising element in a coin which had been in a constant declining trend for a while.

At this stage, XEM market cap is more than twice FCT (but volumes much lower). You'd be an idiot to ignore whats going on in this coin

No sh*t you've turned "ST bullish" on FCT. As I wrote a week ago, "Looking forward to FCT's trolls having a sudden 'change of heart' as they finish collecting and move into phase 2: pump." 1-2 months from now you'll either be FCT's #1 hyper or a noob will be, with a strangely similar writing style to yours.

At this stage, XEM market cap is more than twice FCT (but volumes much lower). You'd be an idiot to ignore whats going on in this coin

When did anyone suggest ignoring XEM? Each coin has its merits. And not sure what’s up with the straw man attacks, but they have about as much relevance as your comments on FCT.

BTW this is actually a strange coin to be trolling, given its subhead “Introducing Honesty to Record-Keeping,” and the fact that anyone can verify your history of FUD by clicking on your name.

[GrossBit]

anyone can indeed click on my name and see i was right on most my market calls on FCT...I invite everyone to do so...

and they will soon understand listening to perma-bulls such like you or Ivan isn't gonna help them....

[rakesh1_90]

anyone can indeed click on my name and see i was right on most my market calls on FCT...I invite everyone to do so...

and they will soon understand listening to perma-bulls such like you or Ivan isn't gonna help them....

Listening to no one helps, U are enthralling only the newbs! We request u not to spam or go offtopic.
Your 20-30 btcs dont mean anything to me nor to many here imho, just a prawn in the ocean. Keep unconstructive feedbacks on ur notepad and revert back to them on ur own.
BS is not welcome.
If u brag and drag the same convo again, u end up being a FUDDER OR SPAMMER.

[Yazz]

Can someone please advise me as to where is the first place that official FACTOM news is announced? Is it here? Twitter? Reddit?

[Ahaezod]

Can someone please advise me as to where is the first place that official FACTOM news is announced? Is it here? Twitter? Reddit?

Seems to be their website. The M2 testnet news was first released on Factom.com, and its link was pasted on bitcointalk/reddit.

https://www.factom.com/blog/factom-launches-federated-testnet

[Pap0u]

Can someone please advise me as to where is the first place that official FACTOM news is announced? Is it here? Twitter? Reddit?

The problem is unlike other projects that we are used to, Factom is not involved in the Bitcointalk community. They honestly do not care about the 0.5 BTC some people invest, because they don't need our money and they are too mainstream and professional to entertain non English speaking plebs like the majority of the people here; in return it is very easy to spread FUD and create rumors here because no one officially intervenes. With that being said, take no advice from this thread, do your own independent research on Factom outside of Bitcointalk and it's users opinions, and make your own decision if want to sell, buy or trade this coin.

[crazyivan]

Can someone please advise me as to where is the first place that official FACTOM news is announced? Is it here? Twitter? Reddit?

The problem is unlike other projects that we are used to, Factom is not involved in the Bitcointalk community. They honestly do not care about the 0.5 BTC some people invest, because they don't need our money and they are too mainstream and professional to entertain non English speaking plebs like the majority of the people here; in return it is very easy to spread FUD and create rumors here because no one officially intervenes. With that being said, take no advice from this thread, do your own independent research on Factom outside of Bitcointalk and it's users opinions, and make your own decision if want to sell, buy or trade this coin.

Once more, I do not think they do not care and it would not be prudent to think that way. Cause unhappy investors can do A LOT OF DAMAGE to the final project. There re at least 2-3k of us here. That s the price you pay for raising money the way they did.

I can understand we re not their target group but intentionally not caring for us would be a very stupid move.

[tempus]

Can someone please advise me as to where is the first place that official FACTOM news is announced? Is it here? Twitter? Reddit?

The problem is unlike other projects that we are used to, Factom is not involved in the Bitcointalk community. They honestly do not care about the 0.5 BTC some people invest, because they don't need our money and they are too mainstream and professional to entertain non English speaking plebs like the majority of the people here; in return it is very easy to spread FUD and create rumors here because no one officially intervenes. With that being said, take no advice from this thread, do your own independent research on Factom outside of Bitcointalk and it's users opinions, and make your own decision if want to sell, buy or trade this coin.

Once more, I do not think they do not care and it would not be prudent to think that way. Cause unhappy investors can do A LOT OF DAMAGE to the final project. There re at least 2-3k of us here. That s the price you pay for raising money the way they did.

I can understand we re not their target group but intentionally not caring for us would be a very stupid move.

They do care. Otherwise they wouldn't ever speak with Crypto-folks. And obviously they are not that much small-talk-guys here on BCT and there are some more or less subtle signs that they don't like all the price-talking ;-) , but one has just to look at Brian Deerys post-history here and Paul Snow is more active on reddit etc.

I believe that they are coding-workaholics. And if they do it right, your concern that guys like we are could damage this project will be baseless. I believe Factom is already too big for that. We could spread rumors and lies however we would want, it wouldn't change the opinion of potential customers. I would be surprised if companies would give much on BCT-talking.

[Pap0u]

Can someone please advise me as to where is the first place that official FACTOM news is announced? Is it here? Twitter? Reddit?

The problem is unlike other projects that we are used to, Factom is not involved in the Bitcointalk community. They honestly do not care about the 0.5 BTC some people invest, because they don't need our money and they are too mainstream and professional to entertain non English speaking plebs like the majority of the people here; in return it is very easy to spread FUD and create rumors here because no one officially intervenes. With that being said, take no advice from this thread, do your own independent research on Factom outside of Bitcointalk and it's users opinions, and make your own decision if want to sell, buy or trade this coin.

Once more, I do not think they do not care and it would not be prudent to think that way. Cause unhappy investors can do A LOT OF DAMAGE to the final project. There re at least 2-3k of us here. That s the price you pay for raising money the way they did.

I can understand we re not their target group but intentionally not caring for us would be a very stupid move.

I'm sorry but they don't care. They seem to be very active at conferences and everywhere else but here. They don't care if you guys dump, you don't affect the project and there are plenty of mature investors who know what is going on and will gladly buy factoids from you guys. Also, the current price of a factoid on Poloniex has no affect on Factom nor it's image to its clients. They don't go on Poloniex and trade lol they invest directly or buy the products. It's the plebs that whine and cry on here then you have deceiving con artists like grossbit shaking you guys down for your lunch money lol. Nobody cares about you guys, you are but one little person out of billions. You guys nor your words are meaningless so carry on and don't bother us who are trying to be normal.

[crazyivan]

Can someone please advise me as to where is the first place that official FACTOM news is announced? Is it here? Twitter? Reddit?

The problem is unlike other projects that we are used to, Factom is not involved in the Bitcointalk community. They honestly do not care about the 0.5 BTC some people invest, because they don't need our money and they are too mainstream and professional to entertain non English speaking plebs like the majority of the people here; in return it is very easy to spread FUD and create rumors here because no one officially intervenes. With that being said, take no advice from this thread, do your own independent research on Factom outside of Bitcointalk and it's users opinions, and make your own decision if want to sell, buy or trade this coin.

Once more, I do not think they do not care and it would not be prudent to think that way. Cause unhappy investors can do A LOT OF DAMAGE to the final project. There re at least 2-3k of us here. That s the price you pay for raising money the way they did.

I can understand we re not their target group but intentionally not caring for us would be a very stupid move.

I'm sorry but they don't care. They seem to be very active at conferences and everywhere else but here. They don't care if you guys dump, you don't affect the project and there are plenty of mature investors who know what is going on and will gladly buy factoids from you guys. Also, the current price of a factoid on Poloniex has no affect on Factom nor it's image to its clients. They don't go on Poloniex and trade lol they invest directly or buy the products. It's the plebs that whine and cry on here then you have deceiving con artists like grossbit shaking you guys down for your lunch money lol. Nobody cares about you guys, you are but one little person out of billions. You guys nor your words are meaningless so carry on and don't bother us who are trying to be normal.

Even if this is true, for me, it makes no difference. I sold my Factoids long time ago and all I do now is following the wave, buying low and selling high. So you see, there s always a way to make money whether they care about me or not. I will continue taking advantage of this ping pong as long as possible. Special thx to the whale who s constantly moving the market and making this possible.

[D-Lux]

Can someone please advise me as to where is the first place that official FACTOM news is announced? Is it here? Twitter? Reddit?

The problem is unlike other projects that we are used to, Factom is not involved in the Bitcointalk community. They honestly do not care about the 0.5 BTC some people invest, because they don't need our money and they are too mainstream and professional to entertain non English speaking plebs like the majority of the people here; in return it is very easy to spread FUD and create rumors here because no one officially intervenes. With that being said, take no advice from this thread, do your own independent research on Factom outside of Bitcointalk and it's users opinions, and make your own decision if want to sell, buy or trade this coin.

Once more, I do not think they do not care and it would not be prudent to think that way. Cause unhappy investors can do A LOT OF DAMAGE to the final project. There re at least 2-3k of us here. That s the price you pay for raising money the way they did.

I can understand we re not their target group but intentionally not caring for us would be a very stupid move.

They do care. Otherwise they wouldn't ever speak with Crypto-folks. And obviously they are not that much small-talk-guys here on BCT and there are some more or less subtle signs that they don't like all the price-talking ;-) , but one has just to look at Brian Deerys post-history here and Paul Snow is more active on reddit etc.

I believe that they are coding-workaholics. And if they do it right, your concern that guys like we are could damage this project will be baseless. I believe Factom is already too big for that. We could spread rumors and lies however we would want, it wouldn't change the opinion of potential customers. I would be surprised if companies would give much on BCT-talking.

Yes, as David Irvine of MAID wrote awhile ago, "Ultimately, price follows value." And nothing said on here has any influence on FCT's value. If it's a question of spending an hour a day responding to some of these comments, or an extra hour working on Factom, I'd prefer they do the latter. As much as I'd personally like them to be more a part of the community discussion, it's not a priority like it is for certain other projects—and for investors and those who believe in the potential social value of the tech, that's a good thing IMO.

[Pap0u]

Can someone please advise me as to where is the first place that official FACTOM news is announced? Is it here? Twitter? Reddit?

The problem is unlike other projects that we are used to, Factom is not involved in the Bitcointalk community. They honestly do not care about the 0.5 BTC some people invest, because they don't need our money and they are too mainstream and professional to entertain non English speaking plebs like the majority of the people here; in return it is very easy to spread FUD and create rumors here because no one officially intervenes. With that being said, take no advice from this thread, do your own independent research on Factom outside of Bitcointalk and it's users opinions, and make your own decision if want to sell, buy or trade this coin.

Once more, I do not think they do not care and it would not be prudent to think that way. Cause unhappy investors can do A LOT OF DAMAGE to the final project. There re at least 2-3k of us here. That s the price you pay for raising money the way they did.

I can understand we re not their target group but intentionally not caring for us would be a very stupid move.

I'm sorry but they don't care. They seem to be very active at conferences and everywhere else but here. They don't care if you guys dump, you don't affect the project and there are plenty of mature investors who know what is going on and will gladly buy factoids from you guys. Also, the current price of a factoid on Poloniex has no affect on Factom nor it's image to its clients. They don't go on Poloniex and trade lol they invest directly or buy the products. It's the plebs that whine and cry on here then you have deceiving con artists like grossbit shaking you guys down for your lunch money lol. Nobody cares about you guys, you are but one little person out of billions. You guys nor your words are meaningless so carry on and don't bother us who are trying to be normal.

Even if this is true, for me, it makes no difference. I sold my Factoids long time ago and all I do now is following the wave, buying low and selling high. So you see, there s always a way to make money whether they care about me or not. I will continue taking advantage of this ping pong as long as possible. Special thx to the whale who s constantly moving the market and making this possible.

Yup, just buy for long term because long term this will go where it needs to be and in the meantime just make good margins calls and shorts on these idiots. I've bought and sold 4 times now anywhere from 25-29k and selling over 33k, it's too easy lol, and then a good short last night into a long again whoever is controlling the market is too predictable

[haggis]

I get the impression that there's none controlling the market but a crowd of individuals which do and hence act in a manner which moves the market in exactly the way they expect it 

[BlackJacky]

Guys, Ive question regarding the Entry Credits. Companies dont have to touch Factoids at all to make entries in the Factom System, which by the way is brilliant beacuse it reduces the risk of holding a cryptocurrency. However, I dont understand why Entry Credits cant be stolen. In the whitepaper is stated following:

Entry Credits are non transferable, so the user cannot assign them to another user’s public key, and selling private keys isn’t practical or useful.

Why is it not possible to transfer a entry credit?

Thx in advance!

[BlackJacky]

Ive one more question...

I know that the Federated Servers are getting paid with Factoids.

Are they receving Factoids to make an incentive to set up a server?
Does every Server receive a certain amount of the new 73,000 Factoids which are created or how are they getting paid?

Thx to all!

[mig5000]

I'd like to know, who will be able to have a federated server ? Are we going to be able to buy hardware to farm it ?

[lolikop]

i have tested m2 without any problems so.. devs i except m2 release in december end of november would be better though

[BrianDeery]

Guys, Ive question regarding the Entry Credits. Companies dont have to touch Factoids at all to make entries in the Factom System, which by the way is brilliant beacuse it reduces the risk of holding a cryptocurrency. However, I dont understand why Entry Credits cant be stolen. In the whitepaper is stated following:

Entry Credits are non transferable, so the user cannot assign them to another user’s public key, and selling private keys isn’t practical or useful.

Why is it not possible to transfer a entry credit?

Thx in advance!

In order for Entry Credits to come into existence, a specific field in a Factoid transaction needs to specify an Entry Credit key.  Since this balance does not increase another Factoid address, the Factoids are essentially burned.  The Factoid transactions live in the Factoid blocks.  When sending to an EC pubkey, the sender does not need to know the private key.  This is why the Entry Credit store can work.  https://shop.factom.com/

A corresponding balance increase is made in the EC block which increases the specified EC balance.  Those ECs are forever tied to that public EC key. There is no mechanism for reassigning the EC balance in the EC blocks.  The only thing they can do is pay for Entries. 

If you have a non-unique private key, others can make Entries using those ECs.  The key point is that the ECs can't be sent so someone else without sharing the private key.  The doublespend problem is not solved with Entry Credits.  Someone can sell the private key to N different people, and only the first person to add Entries into the blockchain can use them.

[BrianDeery]

Ive one more question...

I know that the Federated Servers are getting paid with Factoids.

Are they receving Factoids to make an incentive to set up a server?
Does every Server receive a certain amount of the new 73,000 Factoids which are created or how are they getting paid?

Thx to all!

Factoids are indeed paid to incentivize running a server.  

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

https://medium.com/@BrianDeery/i-love-negative-feedback-632f8ee780ff

[crazyivan]

It seems so obvious a whale s adding lots of Factoids on sell side but at much higher price then the current price. At the same time, he has completely removed his bid side in order to lure noobs into dumping and reducing the price. FCT price ll go down 10-20% compared to what it is now and then rebound back in a few days, week max.

So easy to follow this market and make money.