tempus
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Activity: 1960
Merit: 1128
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December 01, 2016, 11:40:26 AM |
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A few questions I hope someone can answer.
The reason Factom works with a token (Factoid) is to prevent it from SPAM. With Factoids you can buy (EC) Entry Credits.
1. What is the price of an EC (as I heard this always stays the same, regardless of the Factoid price)?
2. Are the costs of 1 entry equal to 1 EC?
3. If the Factoids are meant for preventing SPAM, why are they tradable at all? i.o.w: Why not just buying EC's directly for a fixed price and that's it.
1. Price is $0.001 2. yes 3. Factoids are also meant as payment for those who run the federated server (about 73k FCT in total per month). That's why they are an important aspect for a decentralized system. And the value of Factoids will reflect the use of the system, because every time when Entry Credits are bought, Factoids are converted into EC's and "burned" and the total supply decreases. |
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Mrfrismint
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Activity: 97
Merit: 10
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December 01, 2016, 11:55:52 AM |
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A few questions I hope someone can answer.
The reason Factom works with a token (Factoid) is to prevent it from SPAM. With Factoids you can buy (EC) Entry Credits.
1. What is the price of an EC (as I heard this always stays the same, regardless of the Factoid price)?
2. Are the costs of 1 entry equal to 1 EC?
3. If the Factoids are meant for preventing SPAM, why are they tradable at all? i.o.w: Why not just buying EC's directly for a fixed price and that's it.
1. Price is $0.001 2. yes 3. Factoids are also meant as payment for those who run the federated server (about 73k FCT in total per month). That's why they are an important aspect for a decentralized system. And the value of Factoids will reflect the use of the system, because every time when Entry Credits are bought, Factoids are converted into EC's and "burned" and the total supply decreases. Clear, thanks :-) |
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Capoboss
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December 01, 2016, 12:12:57 PM |
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Lol once again getting dumped...this is hilarious
look at what AMP has been doing recently and you will see what a real dump and capitulation is Thats only the beginning, AMP will fall even lower. |
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Mrboot
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Activity: 1204
Merit: 1000
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December 01, 2016, 12:36:13 PM |
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Lol once again getting dumped...this is hilarious
look at what AMP has been doing recently and you will see what a real dump and capitulation is Thats only the beginning, AMP will fall even lower. I agree, but Amp is nothing like FCT at all, they had funding rounds, and they still own how much % of the coins ? Maidsafe is a much safer bet in that section. Although i believe the world might be to lazy to switch internet |
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estanis
Newbie
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Activity: 21
Merit: 0
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December 01, 2016, 01:49:21 PM |
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A few questions I hope someone can answer.
The reason Factom works with a token (Factoid) is to prevent it from SPAM. With Factoids you can buy (EC) Entry Credits.
1. What is the price of an EC (as I heard this always stays the same, regardless of the Factoid price)?
2. Are the costs of 1 entry equal to 1 EC?
3. If the Factoids are meant for preventing SPAM, why are they tradable at all? i.o.w: Why not just buying EC's directly for a fixed price and that's it.
1. Price is $0.001 2. yes 3. Factoids are also meant as payment for those who run the federated server (about 73k FCT in total per month). That's why they are an important aspect for a decentralized system. And the value of Factoids will reflect the use of the system, because every time when Entry Credits are bought, Factoids are converted into EC's and "burned" and the total supply decreases. Price for an EC is $0.001, but in the future who will set the price for an EC? Factom? Federated servers? |
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tempus
Legendary
Offline
Activity: 1960
Merit: 1128
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December 01, 2016, 02:00:52 PM |
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A few questions I hope someone can answer.
The reason Factom works with a token (Factoid) is to prevent it from SPAM. With Factoids you can buy (EC) Entry Credits.
1. What is the price of an EC (as I heard this always stays the same, regardless of the Factoid price)?
2. Are the costs of 1 entry equal to 1 EC?
3. If the Factoids are meant for preventing SPAM, why are they tradable at all? i.o.w: Why not just buying EC's directly for a fixed price and that's it.
1. Price is $0.001 2. yes 3. Factoids are also meant as payment for those who run the federated server (about 73k FCT in total per month). That's why they are an important aspect for a decentralized system. And the value of Factoids will reflect the use of the system, because every time when Entry Credits are bought, Factoids are converted into EC's and "burned" and the total supply decreases. Price for an EC is $0.001, but in the future who will set the price for an EC? Factom? Federated servers? I'm not totally sure if it's still the plan, but I believe yes: There might be something like a voting-mechanism of the federated servers, that they set the price to find the best equilibrium between high-usage (a low EC-price would be an incentive) and a high burning rate of Factoids per EC (a high EC-price would burn more FCT's). Or the other way around: If they would set the EC-price too high the use of the system would decrease. If they would set it too low, the rate of use would increase but the burning rate per EC also would increase. Since the federated servers will be paid with Factoids it also would be their intention to do that as good as possible to ensure a price of Factoids that is as high as possible. But I don't know if that is still the plan but I believe yes. |
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Less338
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Activity: 24
Merit: 0
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December 01, 2016, 03:41:07 PM |
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A few questions I hope someone can answer.
The reason Factom works with a token (Factoid) is to prevent it from SPAM. With Factoids you can buy (EC) Entry Credits.
1. What is the price of an EC (as I heard this always stays the same, regardless of the Factoid price)?
2. Are the costs of 1 entry equal to 1 EC?
3. If the Factoids are meant for preventing SPAM, why are they tradable at all? i.o.w: Why not just buying EC's directly for a fixed price and that's it.
1. Price is $0.001 2. yes 3. Factoids are also meant as payment for those who run the federated server (about 73k FCT in total per month). That's why they are an important aspect for a decentralized system. And the value of Factoids will reflect the use of the system, because every time when Entry Credits are bought, Factoids are converted into EC's and "burned" and the total supply decreases. Price for an EC is $0.001, but in the future who will set the price for an EC? Factom? Federated servers? As far as my knowledge goes the price for one entry credit is fixed at a rate of $0.001 till M3 is launched. During the launch of M3 a new price could be set by Factom. After that point the price can't be changed anymore. |
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Ahaezod
Newbie
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Activity: 48
Merit: 0
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December 01, 2016, 04:09:07 PM |
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M2 shall be our Christmas gift.
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5thangel
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December 01, 2016, 05:17:09 PM |
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M2 shall be our Christmas gift.
Is there any news about M2 ? |
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Pap0u
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December 01, 2016, 05:33:45 PM |
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Factom honestly looks like it's gonna touch 200k rather than 300k as of late...whoever as a collective is responsible for completely trashing this coins market is only hurting themselves because buyers will soon just flee if they haven't already. This isn't the only promising project in crypto but it for sure is the only project to constantly dump on good news and barely sees any pumps. I'm not sure I could recommend this coin to anyone anymore
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mig5000
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December 01, 2016, 06:05:18 PM |
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Factom honestly looks like it's gonna touch 200k rather than 300k as of late...whoever as a collective is responsible for completely trashing this coins market is only hurting themselves because buyers will soon just flee if they haven't already. This isn't the only promising project in crypto but it for sure is the only project to constantly dump on good news and barely sees any pumps. I'm not sure I could recommend this coin to anyone anymore
As sad as it is, there is no "buyers" for alts at this point and factom is no different. BTC is on the verge of mooning and the relative value of alts will go down in most cases because of arbitrage with their USD counterparts. Also why play alts right now when you could 2x-3x BTC for a better return ? There might be some sell-off when we break this local high and good opportunity to accumulate, in the meantime, hold your hat, this is going to be a bumpy ride whether we moon or dump. |
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Mrboot
Legendary
Offline
Activity: 1204
Merit: 1000
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December 01, 2016, 08:12:48 PM |
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Factom honestly looks like it's gonna touch 200k rather than 300k as of late...whoever as a collective is responsible for completely trashing this coins market is only hurting themselves because buyers will soon just flee if they haven't already. This isn't the only promising project in crypto but it for sure is the only project to constantly dump on good news and barely sees any pumps. I'm not sure I could recommend this coin to anyone anymore
and another go from pumper to fudder, guess you sold and looking for a rebuy. Lets see how long it takes before your bullish again. |
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Mrfrismint
Member
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Activity: 97
Merit: 10
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December 01, 2016, 08:45:38 PM |
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Factom honestly looks like it's gonna touch 200k rather than 300k as of late...whoever as a collective is responsible for completely trashing this coins market is only hurting themselves because buyers will soon just flee if they haven't already. This isn't the only promising project in crypto but it for sure is the only project to constantly dump on good news and barely sees any pumps. I'm not sure I could recommend this coin to anyone anymore
and another go from pumper to fudder, guess you sold and looking for a rebuy. Lets see how long it takes before your bullish again. Can't agree more. A few people here are only crying about the price all the time, like they have nothing else to do in life, better than looking at the red and green candles. Please do me a favor and sell all your coins, book a holiday and take a rest. This forum will be cleaned from all the price talk crap = win - win |
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lolikop
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December 01, 2016, 08:46:28 PM |
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Factom honestly looks like it's gonna touch 200k rather than 300k as of late...whoever as a collective is responsible for completely trashing this coins market is only hurting themselves because buyers will soon just flee if they haven't already. This isn't the only promising project in crypto but it for sure is the only project to constantly dump on good news and barely sees any pumps. I'm not sure I could recommend this coin to anyone anymore
As sad as it is, there is no "buyers" for alts at this point and factom is no different. BTC is on the verge of mooning and the relative value of alts will go down in most cases because of arbitrage with their USD counterparts. Also why play alts right now when you could 2x-3x BTC for a better return ? There might be some sell-off when we break this local high and good opportunity to accumulate, in the meantime, hold your hat, this is going to be a bumpy ride whether we moon or dump. 2x-3x lol dream on that means breaking ath 1500-2250$ a coin not gonna happen untill 2018-19 |
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Pap0u
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December 01, 2016, 09:36:05 PM |
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No dude? I'm not fudding to rebuy but stating the obvious. These prices right now are amazing for a quick short term long or even long term holding. It's just right now from what we see, Factom just can not pump
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mig5000
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December 01, 2016, 09:44:44 PM |
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Factom honestly looks like it's gonna touch 200k rather than 300k as of late...whoever as a collective is responsible for completely trashing this coins market is only hurting themselves because buyers will soon just flee if they haven't already. This isn't the only promising project in crypto but it for sure is the only project to constantly dump on good news and barely sees any pumps. I'm not sure I could recommend this coin to anyone anymore
As sad as it is, there is no "buyers" for alts at this point and factom is no different. BTC is on the verge of mooning and the relative value of alts will go down in most cases because of arbitrage with their USD counterparts. Also why play alts right now when you could 2x-3x BTC for a better return ? There might be some sell-off when we break this local high and good opportunity to accumulate, in the meantime, hold your hat, this is going to be a bumpy ride whether we moon or dump. 2x-3x lol dream on that means breaking ath 1500-2250$ a coin not gonna happen untill 2018-19 Was talking about leverage trading BTC vs staying flat in alts. The last few runs BTC had, alts tanked very badly. If BTC break this local top, you'll see what I mean. I still have about 50% of my usual holding and I too went to BTC. |
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lolikop
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December 01, 2016, 09:44:56 PM |
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No dude? I'm not fudding to rebuy but stating the obvious. These prices right now are amazing for a quick short term long or even long term holding. It's just right now from what we see, Factom just can not pump
Cannot pump and cannot dump under 250k a handle is right in front of ur eyes if u cant see it ur doomed with whatever coins u trade for fct |
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lolikop
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December 01, 2016, 10:02:32 PM |
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Factom honestly looks like it's gonna touch 200k rather than 300k as of late...whoever as a collective is responsible for completely trashing this coins market is only hurting themselves because buyers will soon just flee if they haven't already. This isn't the only promising project in crypto but it for sure is the only project to constantly dump on good news and barely sees any pumps. I'm not sure I could recommend this coin to anyone anymore
As sad as it is, there is no "buyers" for alts at this point and factom is no different. BTC is on the verge of mooning and the relative value of alts will go down in most cases because of arbitrage with their USD counterparts. Also why play alts right now when you could 2x-3x BTC for a better return ? There might be some sell-off when we break this local high and good opportunity to accumulate, in the meantime, hold your hat, this is going to be a bumpy ride whether we moon or dump. 2x-3x lol dream on that means breaking ath 1500-2250$ a coin not gonna happen untill 2018-19 Was talking about leverage trading BTC vs staying flat in alts. The last few runs BTC had, alts tanked very badly. If BTC break this local top, you'll see what I mean. I still have about 50% of my usual holding and I too went to BTC. Even if btc goes over local top (yes most alts will dump bigg ) but within 2weeks they just go back to where they were and possibly go with btc because if btc gets attention so will alts just like we saw at halvin i remember eth pumping while btc rises 30-40$ a day So pls dont go all fomo when btc going higher Cheers |
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oneyesoneno
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December 02, 2016, 12:10:05 AM |
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No dude? I'm not fudding to rebuy but stating the obvious. These prices right now are amazing for a quick short term long or even long term holding. It's just right now from what we see, Factom just can not pump
Cannot pump and cannot dump under 250k a handle is right in front of ur eyes if u cant see it ur doomed with whatever coins u trade for fct I am committed to hold FCT till the end  |
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lolikop
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December 02, 2016, 01:10:02 AM |
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No dude? I'm not fudding to rebuy but stating the obvious. These prices right now are amazing for a quick short term long or even long term holding. It's just right now from what we see, Factom just can not pump
Cannot pump and cannot dump under 250k a handle is right in front of ur eyes if u cant see it ur doomed with whatever coins u trade for fct I am committed to hold FCT till the end dude u dont even know the end i can speculate fct @ 100$ by end of 2017 |
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