[ANN] FACTOM - Introducing Honesty to Record-Keeping

[sandwraithBTC]

Yea you are all profiting off each other right now. We will break under 220k here shortly. Ivan is still in negative, 300k is a dream right now for at least 12 months until we see it again. You guys just all bought this up and look at the chart. Factom is a great project guys but why can't no one understand we are on the downtrend right now from the SUMMER PUMP. Like just look at the whole chart ffs. I am trying to save you guys money. People will start closing longs soon that were taken at 220k and it will be a bad day for those who are still swimming.  

then just make ur own bid and shut up ur mouth. We don't need your stupid advise
And apparently it has proven that your advise is wrong
"people who bought at 21 are making good profit now"
if you don't know how to analyze chart, then just quietly read experts' opinions  
assumptions won't convince anyone here. We all need proof and technical analysis

Note: everyone should know that even though Papou keeps saying Factom will go down to 150k but his action is totally different. He has already closed his SHORT. 

[Mrfrismint]

Hey guys,

If you look at the factoids rich list on https://factoid.live/, you can see that 2.9 million FCT are on Polo. Leaving that address aside, it seems like 30% of all FCT is in hands of just 15 addresses. what is your opinion about the fact that such an amount seems to be so centrally owned by a hand full of people, especially in regards to the sustainability of any rise in price. I rather see some more decentralization in the ownership of FCT...

[crazyivan]

Hey guys,

If you look at the factoids rich list on https://factoid.live/, you can see that 2.9 million FCT are on Polo. Leaving that address aside, it seems like 30% of all FCT is in hands of just 15 addresses. what is your opinion about the fact that such an amount seems to be so centrally owned by a hand full of people, especially in regards to the sustainability of any rise in price. I rather see some more decentralization in the ownership of FCT...

I agree. So you go and buy more. ) Become number 16.

[Mimir]

what is your opinion about the fact that such an amount seems to be so centrally owned by a hand full of people

For one I'd be terrified if people in the company didn't own some FCT. It provides incentive, you should hope they own as much as possible.

Secondly, you are ignoring the fact that the top account is worth 5X the second account. It's widely assumed to be the Poloniex cold wallet. Now where are the other exchange wallets?

Thirdly, It has no underlying PoS, large bagholders present no threat. FCT isn't made to be a currency that transfers wealth, it's a software license, by holding FCT you are expecting that people will use the system to make entries.

[Mrfrismint]

what is your opinion about the fact that such an amount seems to be so centrally owned by a hand full of people

For one I'd be terrified if people in the company didn't own some FCT. It provides incentive, you should hope they own as much as possible.

Secondly, you are ignoring the fact that the top account is worth 5X the second account. It's widely assumed to be the Poloniex cold wallet. Now where are the other exchange wallets?

Thirdly, It has no underlying PoS, large bagholders present no threat. FCT isn't made to be a currency that transfers wealth, it's a software license, by holding FCT you are expecting that people will use the system to make entries.

I think you are right. first one is Polo of course. Second could well be bittrex. Other bigones are likely some Factom founders. They won't sell early anyway. For the rest is pretty spread out. By the way. suddenly a massive buy wall is forming on Polo... I expect a big swing up today and pretty soon.

[Mrboot]

what is your opinion about the fact that such an amount seems to be so centrally owned by a hand full of people

For one I'd be terrified if people in the company didn't own some FCT. It provides incentive, you should hope they own as much as possible.

Secondly, you are ignoring the fact that the top account is worth 5X the second account. It's widely assumed to be the Poloniex cold wallet. Now where are the other exchange wallets?

Thirdly, It has no underlying PoS, large bagholders present no threat. FCT isn't made to be a currency that transfers wealth, it's a software license, by holding FCT you are expecting that people will use the system to make entries.

I think you are right. first one is Polo of course. Second could well be bittrex. Other bigones are likely some Factom founders. They won't sell early anyway. For the rest is pretty spread out. By the way. suddenly a massive buy wall is forming on Polo... I expect a big swing up today and pretty soon.

Becareful with big buywalls, they can have two reasons.

1) He is lazy and actually wanna buy.

2) He wanna sell into the people putting buy orders above him.

Cause if you wanna buy that much you should never do it like this, cause people will just keep putting orders above you.
So i guess the second option is my pick.

Doesnt change the fact factom is great, but still its strange to buy like this cause you make it harder for yourself to buy cheap.

[Mrboot]

what is your opinion about the fact that such an amount seems to be so centrally owned by a hand full of people

For one I'd be terrified if people in the company didn't own some FCT. It provides incentive, you should hope they own as much as possible.

Secondly, you are ignoring the fact that the top account is worth 5X the second account. It's widely assumed to be the Poloniex cold wallet. Now where are the other exchange wallets?

Thirdly, It has no underlying PoS, large bagholders present no threat. FCT isn't made to be a currency that transfers wealth, it's a software license, by holding FCT you are expecting that people will use the system to make entries.

I think you are right. first one is Polo of course. Second could well be bittrex. Other bigones are likely some Factom founders. They won't sell early anyway. For the rest is pretty spread out. By the way. suddenly a massive buy wall is forming on Polo... I expect a big swing up today and pretty soon.

Becareful with big buywalls, they can have two reasons.

1) He is lazy and actually wanna buy.

2) He wanna sell into the people putting buy orders above him.

Cause if you wanna buy that much you should never do it like this, cause people will just keep putting orders above you.
So i guess the second option is my pick.

Doesnt change the fact factom is great, but still its strange to buy like this cause you make it harder for yourself to buy cheap.

and 5 minutes later......

[Mrfrismint]

what is your opinion about the fact that such an amount seems to be so centrally owned by a hand full of people

For one I'd be terrified if people in the company didn't own some FCT. It provides incentive, you should hope they own as much as possible.

Secondly, you are ignoring the fact that the top account is worth 5X the second account. It's widely assumed to be the Poloniex cold wallet. Now where are the other exchange wallets?

Thirdly, It has no underlying PoS, large bagholders present no threat. FCT isn't made to be a currency that transfers wealth, it's a software license, by holding FCT you are expecting that people will use the system to make entries.

I think you are right. first one is Polo of course. Second could well be bittrex. Other bigones are likely some Factom founders. They won't sell early anyway. For the rest is pretty spread out. By the way. suddenly a massive buy wall is forming on Polo... I expect a big swing up today and pretty soon.

Becareful with big buywalls, they can have two reasons.

1) He is lazy and actually wanna buy.

2) He wanna sell into the people putting buy orders above him.

Cause if you wanna buy that much you should never do it like this, cause people will just keep putting orders above you.
So i guess the second option is my pick.

Doesnt change the fact factom is great, but still its strange to buy like this cause you make it harder for yourself to buy cheap.

I was thinking that too. and indeed.. big sell there... lol. hope it stays low, cause tomorrow i have some funds again ;-)

[Pap0u]

And the nice dump on you guys LOL why do you like giving your money away?

[jay8291]

And the nice dump on you guys LOL why do you like giving your money away?

bcoz its Our Money...   

[Mrboot]

And the nice dump on you guys LOL why do you like giving your money away?

Man if you read the forum you could see that i already closed my long on 266, and i even predicted the drop.

But beside that you said it will go down since 235 and were still 15k above that. So keep fudding you aint trying hard enough. My orders are set to 0.0015 so come on do your thing.

[Mrfrismint]

It is not a coincidence that FCT price is around TA now, right before M2 launch. M2 launch will give it a new reason to break the downtrend. This area is great for accumulating in my opinion.

[Mrboot]

It is not a coincidence that FCT price is around TA now, right before M2 launch. M2 launch will give it a new reason to break the downtrend. This area is great for accumulating in my opinion.

Agree but we might see lowers if bitcoin breaks out, but its now testing the 5400 cny level, i think we can test support again but serieus people cant predict cause of btc atm. just guess

I think factom just had a lot bad luck, not finished m2, bitcoin rising, venture capital hacked and now again btc on the rise.
Sucks but thats how things go.

[mtnsaa]

It is not a coincidence that FCT price is around TA now, right before M2 launch. M2 launch will give it a new reason to break the downtrend. This area is great for accumulating in my opinion.

Agree but we might see lowers if bitcoin breaks out, but its now testing the 5400 cny level, i think we can test support again but serieus people cant predict cause of btc atm. just guess

I think factom just had a lot bad luck, not finished m2, bitcoin rising, venture capital hacked and now again btc on the rise.
Sucks but thats how things go.

That's absolutely the time to buy, I know buying at these levels is hard and it's harder to predict new bottoms. I had some buys set at 200k that got triggered in the last dump and that was great. I have some at 160-180k too just in case. I bought some at 230k, if you believe FCT price will rally above 400k and beyond with M2 and Exodus wallet you just have to accumulate now. Yes it can drop to 150k depending on manipulation but really, do you really see FCT at $1 for that long? it's a complete steal and we all know it.

[mtnsaa]

what is your opinion about the fact that such an amount seems to be so centrally owned by a hand full of people

For one I'd be terrified if people in the company didn't own some FCT. It provides incentive, you should hope they own as much as possible.

Secondly, you are ignoring the fact that the top account is worth 5X the second account. It's widely assumed to be the Poloniex cold wallet. Now where are the other exchange wallets?

Thirdly, It has no underlying PoS, large bagholders present no threat. FCT isn't made to be a currency that transfers wealth, it's a software license, by holding FCT you are expecting that people will use the system to make entries.

Really? Factom price is meant TO PAY federated servers, they will get paid with FCT and you are saying it's a software license? You are not buying entry credits you know?

[Mrboot]

what is your opinion about the fact that such an amount seems to be so centrally owned by a hand full of people

For one I'd be terrified if people in the company didn't own some FCT. It provides incentive, you should hope they own as much as possible.

Secondly, you are ignoring the fact that the top account is worth 5X the second account. It's widely assumed to be the Poloniex cold wallet. Now where are the other exchange wallets?

Thirdly, It has no underlying PoS, large bagholders present no threat. FCT isn't made to be a currency that transfers wealth, it's a software license, by holding FCT you are expecting that people will use the system to make entries.

Really? Factom price is meant TO PAY federated servers, they will get paid with FCT and you are saying it's a software license? You are not buying entry credits you know?

Your statement make no sense, cause factoids are entry credits you just convert them, so actually factom is much more then a licence its the economics behind factom

[mtnsaa]

what is your opinion about the fact that such an amount seems to be so centrally owned by a hand full of people

For one I'd be terrified if people in the company didn't own some FCT. It provides incentive, you should hope they own as much as possible.

Secondly, you are ignoring the fact that the top account is worth 5X the second account. It's widely assumed to be the Poloniex cold wallet. Now where are the other exchange wallets?

Thirdly, It has no underlying PoS, large bagholders present no threat. FCT isn't made to be a currency that transfers wealth, it's a software license, by holding FCT you are expecting that people will use the system to make entries.

Really? Factom price is meant TO PAY federated servers, they will get paid with FCT and you are saying it's a software license? You are not buying entry credits you know?

Your statement make no sense, cause factoids are entry credits you just convert them, so actually factom is much more then a licence its the economics behind factom

No they are not just entry credits, that doesn't make any sense. Factoids are there to speculate and keep a balance depending on supply/price. It may not be a currency itself but it's the cryptocurrency or whatever you like to call it behind the company. If the company does well so does its main asset.

Yes you can say it's similar for example to if Adobe was selling 8 million licenses of Adobe Creative Cloud for $2 back then. Now how much those are worth? It's actually not the same at all of course but that's the point you are trying to make and as you see it has value.

[Mrboot]

what is your opinion about the fact that such an amount seems to be so centrally owned by a hand full of people

For one I'd be terrified if people in the company didn't own some FCT. It provides incentive, you should hope they own as much as possible.

Secondly, you are ignoring the fact that the top account is worth 5X the second account. It's widely assumed to be the Poloniex cold wallet. Now where are the other exchange wallets?

Thirdly, It has no underlying PoS, large bagholders present no threat. FCT isn't made to be a currency that transfers wealth, it's a software license, by holding FCT you are expecting that people will use the system to make entries.

Really? Factom price is meant TO PAY federated servers, they will get paid with FCT and you are saying it's a software license? You are not buying entry credits you know?

Your statement make no sense, cause factoids are entry credits you just convert them, so actually factom is much more then a licence its the economics behind factom

No they are not just entry credits, that doesn't make any sense. Factoids are there to speculate and keep a balance depending on supply/price. It may not be a currency itself but it's the cryptocurrency or whatever you like to call it behind the company. If the company does well so does its main asset.

Yes you can say it's similar for example to if Adobe was selling 8 million licenses of Adobe Creative Cloud for $2 back then. Now how much those are worth? It's actually not the same at all of course but that's the point you are trying to make and as you see it has value.

You can convert your factoids into entry credits, so eventually the factoids will have the same value as the network usage. So actually factoids increase price when the usage go up.

[Mrfrismint]

what is your opinion about the fact that such an amount seems to be so centrally owned by a hand full of people

For one I'd be terrified if people in the company didn't own some FCT. It provides incentive, you should hope they own as much as possible.

Secondly, you are ignoring the fact that the top account is worth 5X the second account. It's widely assumed to be the Poloniex cold wallet. Now where are the other exchange wallets?

Thirdly, It has no underlying PoS, large bagholders present no threat. FCT isn't made to be a currency that transfers wealth, it's a software license, by holding FCT you are expecting that people will use the system to make entries.

Really? Factom price is meant TO PAY federated servers, they will get paid with FCT and you are saying it's a software license? You are not buying entry credits you know?

Your statement make no sense, cause factoids are entry credits you just convert them, so actually factom is much more then a licence its the economics behind factom

No they are not just entry credits, that doesn't make any sense. Factoids are there to speculate and keep a balance depending on supply/price. It may not be a currency itself but it's the cryptocurrency or whatever you like to call it behind the company. If the company does well so does its main asset.

Yes you can say it's similar for example to if Adobe was selling 8 million licenses of Adobe Creative Cloud for $2 back then. Now how much those are worth? It's actually not the same at all of course but that's the point you are trying to make and as you see it has value.

You can convert your factoids into entry credits, so eventually the factoids will have the same value as the network usage. So actually factoids increase price when the usage go up.

Exactly. Just read this and you know what the relationship is between factoids (FCT) and Entry Credits (EC's): https://bitcointalk.org/index.php?topic=1521895.0

[Mrboot]

what is your opinion about the fact that such an amount seems to be so centrally owned by a hand full of people

For one I'd be terrified if people in the company didn't own some FCT. It provides incentive, you should hope they own as much as possible.

Secondly, you are ignoring the fact that the top account is worth 5X the second account. It's widely assumed to be the Poloniex cold wallet. Now where are the other exchange wallets?

Thirdly, It has no underlying PoS, large bagholders present no threat. FCT isn't made to be a currency that transfers wealth, it's a software license, by holding FCT you are expecting that people will use the system to make entries.

Really? Factom price is meant TO PAY federated servers, they will get paid with FCT and you are saying it's a software license? You are not buying entry credits you know?

Your statement make no sense, cause factoids are entry credits you just convert them, so actually factom is much more then a licence its the economics behind factom

No they are not just entry credits, that doesn't make any sense. Factoids are there to speculate and keep a balance depending on supply/price. It may not be a currency itself but it's the cryptocurrency or whatever you like to call it behind the company. If the company does well so does its main asset.

Yes you can say it's similar for example to if Adobe was selling 8 million licenses of Adobe Creative Cloud for $2 back then. Now how much those are worth? It's actually not the same at all of course but that's the point you are trying to make and as you see it has value.

You can convert your factoids into entry credits, so eventually the factoids will have the same value as the network usage. So actually factoids increase price when the usage go up.

Exactly. Just read this and you know what the relationship is between factoids (FCT) and Entry Credits (EC's): https://bitcointalk.org/index.php?topic=1521895.0

Now its still really overpriced compared to the usage, but thats specualation value atm, like many things before the real launch.