[ANN] FACTOM - Introducing Honesty to Record-Keeping

[Mrfrismint]

Current amount of FCT (8.7 million) x value of FCT (1.9USD) / EC price (0.001USD) = 16.500.000.000. So this is the amount of entries that can theoretically be made with the current price of FCT, while Factom is now at 5.7 million entries. Seems like a big difference, but we all know once Factom starts to acquire big companies with big data sets to store on Factom's blockchain, it can go pretty fast. 16.5 billion is then suddenly not so much anymore. Especially if you keep in mind that a large part of the FCT will never be available for convertion into EC's, as they are used for trading/speculation and long term holdings. So in reality there are way less FCT available to really burn into EC's than the number of 8.7 million. This will drive the price.

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[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.

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.

You can say the same about any other blockchain project, not even BTC has mainstream attention, it's all speculation and potential for now. Even stock markets price the potential and future dividends in, true value is something very illusory in most cases. The point is FCT is meant to have any value the market gives it, EC's on the other hand remain very low and affordable.

We all agree that if Factom becomes a very profitable company then FCT price right now is severely undervalued.

[mtnsaa]

Current amount of FCT (8.7 million) x value of FCT (1.9USD) / EC price (0.001USD) = 16.500.000.000. So this is the amount of entries that can theoretically be made with the current price of FCT, while Factom is now at 5.7 million entries. Seems like a big difference, but we all know once Factom starts to acquire big companies with big data sets to store on Factom's blockchain, it can go pretty fast. 16.5 billion is then suddenly not so much anymore. Especially if you keep in mind that a large part of the FCT will never be available for convertion into EC's, as they are used for trading/speculation and long term holdings. So in reality there are way less FCT available to really burn into EC's than the number of 8.7 million. This will drive the price.

Plus to me the inflation is not something that crazy, many fear that 73k FCT per month is crazy, but that basically means (if the company survives without burning any FCT) that it will double its supply in 10 years. So 16-20m FCT is not a huge supply either and that's the worst case scenario. That would never happen because the company will actually go out of business.

In any case and we any real usage, inflation will be very low or even deflationary. So if Factom gets any kind of traction that means the current price is a steal like many of us have said in the past.

[GameStarter]

Current amount of FCT (8.7 million) x value of FCT (1.9USD) / EC price (0.001USD) = 16.500.000.000. So this is the amount of entries that can theoretically be made with the current price of FCT, while Factom is now at 5.7 million entries. Seems like a big difference, but we all know once Factom starts to acquire big companies with big data sets to store on Factom's blockchain, it can go pretty fast. 16.5 billion is then suddenly not so much anymore. Especially if you keep in mind that a large part of the FCT will never be available for convertion into EC's, as they are used for trading/speculation and long term holdings. So in reality there are way less FCT available to really burn into EC's than the number of 8.7 million. This will drive the price.

Plus to me the inflation is not something that crazy, many fear that 73k FCT per month is crazy, but that basically means (if the company survives without burning any FCT) that it will double its supply in 10 years. So 16-20m FCT is not a huge supply either and that's the worst case scenario. That would never happen because the company will actually go out of business.

In any case and we any real usage, inflation will be very low or even deflationary. So if Factom gets any kind of traction that means the current price is a steal like many of us have said in the past.

I don't understand how FCT could be available to be burn into EC's before M3 as FCT's are always hold by someone in Poloniex or wallets. Actually and until M3, where burned FCT come from?

[Mrfrismint]

Current amount of FCT (8.7 million) x value of FCT (1.9USD) / EC price (0.001USD) = 16.500.000.000. So this is the amount of entries that can theoretically be made with the current price of FCT, while Factom is now at 5.7 million entries. Seems like a big difference, but we all know once Factom starts to acquire big companies with big data sets to store on Factom's blockchain, it can go pretty fast. 16.5 billion is then suddenly not so much anymore. Especially if you keep in mind that a large part of the FCT will never be available for convertion into EC's, as they are used for trading/speculation and long term holdings. So in reality there are way less FCT available to really burn into EC's than the number of 8.7 million. This will drive the price.

Plus to me the inflation is not something that crazy, many fear that 73k FCT per month is crazy, but that basically means (if the company survives without burning any FCT) that it will double its supply in 10 years. So 16-20m FCT is not a huge supply either and that's the worst case scenario. That would never happen because the company will actually go out of business.

In any case and we any real usage, inflation will be very low or even deflationary. So if Factom gets any kind of traction that means the current price is a steal like many of us have said in the past.

I don't understand how FCT could be available to be burn into EC's before M3 as FCT's are always hold by someone in Poloniex or wallets. Actually and until M3, where burned FCT come from?

That is actually a good question. Maybe someone from Factom can answer this here?

[mtnsaa]

Current amount of FCT (8.7 million) x value of FCT (1.9USD) / EC price (0.001USD) = 16.500.000.000. So this is the amount of entries that can theoretically be made with the current price of FCT, while Factom is now at 5.7 million entries. Seems like a big difference, but we all know once Factom starts to acquire big companies with big data sets to store on Factom's blockchain, it can go pretty fast. 16.5 billion is then suddenly not so much anymore. Especially if you keep in mind that a large part of the FCT will never be available for convertion into EC's, as they are used for trading/speculation and long term holdings. So in reality there are way less FCT available to really burn into EC's than the number of 8.7 million. This will drive the price.

Plus to me the inflation is not something that crazy, many fear that 73k FCT per month is crazy, but that basically means (if the company survives without burning any FCT) that it will double its supply in 10 years. So 16-20m FCT is not a huge supply either and that's the worst case scenario. That would never happen because the company will actually go out of business.

In any case and we any real usage, inflation will be very low or even deflationary. So if Factom gets any kind of traction that means the current price is a steal like many of us have said in the past.

I don't understand how FCT could be available to be burn into EC's before M3 as FCT's are always hold by someone in Poloniex or wallets. Actually and until M3, where burned FCT come from?

That is actually a good question. Maybe someone from Factom can answer this here?

It's a very good question but the answer is very simple I think, Factom will handle all the EC's needs for their clients. Precisely they will manage all FCT demands, the companies will only buy EC with fiat, they don't even need to know about what a Factoid is. So they will have a buy form and select 100k entries for let's say $100 or whatever. Factom will provide them with the EC behind the curtains by burning FCT they will hold I guess.

[AlanX]

Current amount of FCT (8.7 million) x value of FCT (1.9USD) / EC price (0.001USD) = 16.500.000.000. So this is the amount of entries that can theoretically be made with the current price of FCT, while Factom is now at 5.7 million entries. Seems like a big difference, but we all know once Factom starts to acquire big companies with big data sets to store on Factom's blockchain, it can go pretty fast. 16.5 billion is then suddenly not so much anymore. Especially if you keep in mind that a large part of the FCT will never be available for convertion into EC's, as they are used for trading/speculation and long term holdings. So in reality there are way less FCT available to really burn into EC's than the number of 8.7 million. This will drive the price.

Plus to me the inflation is not something that crazy, many fear that 73k FCT per month is crazy, but that basically means (if the company survives without burning any FCT) that it will double its supply in 10 years. So 16-20m FCT is not a huge supply either and that's the worst case scenario. That would never happen because the company will actually go out of business.

In any case and we any real usage, inflation will be very low or even deflationary. So if Factom gets any kind of traction that means the current price is a steal like many of us have said in the past.

I don't understand how FCT could be available to be burn into EC's before M3 as FCT's are always hold by someone in Poloniex or wallets. Actually and until M3, where burned FCT come from?

That is actually a good question. Maybe someone from Factom can answer this here?

Anyone holding FCT can convert that FCT to Entry Credits in a Factoid Transaction (our wallet handles building such a transaction).   So I am not quite sure what the confusion is.  You can buy FCT from Poloniex, then convert that FCT to Entry Credits.   Or you can buy Entry Credits directly from Factom.

 https://shop.factom.com/

(A note about shop.factom.com:  The idea isn't really to be a source of Entry Credits, given a price of .5 cents for something you can convert yourself for .1 cents.  The idea is really to provide a low friction path to Entry Credits which avoids wallets and Factoids and Exchanges.)

We expect there will be other sources for Entry Credits over time.

Paul

[Pap0u]

Current amount of FCT (8.7 million) x value of FCT (1.9USD) / EC price (0.001USD) = 16.500.000.000. So this is the amount of entries that can theoretically be made with the current price of FCT, while Factom is now at 5.7 million entries. Seems like a big difference, but we all know once Factom starts to acquire big companies with big data sets to store on Factom's blockchain, it can go pretty fast. 16.5 billion is then suddenly not so much anymore. Especially if you keep in mind that a large part of the FCT will never be available for convertion into EC's, as they are used for trading/speculation and long term holdings. So in reality there are way less FCT available to really burn into EC's than the number of 8.7 million. This will drive the price.

Plus to me the inflation is not something that crazy, many fear that 73k FCT per month is crazy, but that basically means (if the company survives without burning any FCT) that it will double its supply in 10 years. So 16-20m FCT is not a huge supply either and that's the worst case scenario. That would never happen because the company will actually go out of business.

In any case and we any real usage, inflation will be very low or even deflationary. So if Factom gets any kind of traction that means the current price is a steal like many of us have said in the past.

I don't understand how FCT could be available to be burn into EC's before M3 as FCT's are always hold by someone in Poloniex or wallets. Actually and until M3, where burned FCT come from?

That is actually a good question. Maybe someone from Factom can answer this here?

Anyone holding FCT can convert that FCT to Entry Credits in a Factoid Transaction (our wallet handles building such a transaction).   So I am not quite sure what the confusion is.  You can buy FCT from Poloniex, then convert that FCT to Entry Credits.   Or you can buy Entry Credits directly from Factom.

 https://shop.factom.com/

(A note about shop.factom.com:  The idea isn't really to be a source of Entry Credits, given a price of .5 cents for something you can convert yourself for .1 cents.  The idea is really to provide a low friction path to Entry Credits which avoids wallets and Factoids and Exchanges.)

We expect there will be other sources for Entry Credits over time.

Paul

So is this your way of saying Factoids are useless and a way to take advantage of people in a unregulated environment as they are dumped upon us for sustained income by who knows?

If we can buy EC from the website as seen at shop.factom.com , what makes Factoids valuable or what will make them valuable? I just feel we are being misguided and tricked to be an income source for your startup.

[mtnsaa]

Current amount of FCT (8.7 million) x value of FCT (1.9USD) / EC price (0.001USD) = 16.500.000.000. So this is the amount of entries that can theoretically be made with the current price of FCT, while Factom is now at 5.7 million entries. Seems like a big difference, but we all know once Factom starts to acquire big companies with big data sets to store on Factom's blockchain, it can go pretty fast. 16.5 billion is then suddenly not so much anymore. Especially if you keep in mind that a large part of the FCT will never be available for convertion into EC's, as they are used for trading/speculation and long term holdings. So in reality there are way less FCT available to really burn into EC's than the number of 8.7 million. This will drive the price.

Plus to me the inflation is not something that crazy, many fear that 73k FCT per month is crazy, but that basically means (if the company survives without burning any FCT) that it will double its supply in 10 years. So 16-20m FCT is not a huge supply either and that's the worst case scenario. That would never happen because the company will actually go out of business.

In any case and we any real usage, inflation will be very low or even deflationary. So if Factom gets any kind of traction that means the current price is a steal like many of us have said in the past.

I don't understand how FCT could be available to be burn into EC's before M3 as FCT's are always hold by someone in Poloniex or wallets. Actually and until M3, where burned FCT come from?

That is actually a good question. Maybe someone from Factom can answer this here?

Anyone holding FCT can convert that FCT to Entry Credits in a Factoid Transaction (our wallet handles building such a transaction).   So I am not quite sure what the confusion is.  You can buy FCT from Poloniex, then convert that FCT to Entry Credits.   Or you can buy Entry Credits directly from Factom.

 https://shop.factom.com/

(A note about shop.factom.com:  The idea isn't really to be a source of Entry Credits, given a price of .5 cents for something you can convert yourself for .1 cents.  The idea is really to provide a low friction path to Entry Credits which avoids wallets and Factoids and Exchanges.)

We expect there will be other sources for Entry Credits over time.

Paul

Well my guess was not that wild! Thanks for the clear answer.

[Pap0u]

So people bought something useless, great even better. 80k looks like an expensive figure now, thanks for the clarification that people won't even need Factoids to make entries, so Factoids are completely worthless

[GOT7]

So people bought something useless, great even better. 80k looks like an expensive figure now, thanks for the clarification that people won't even need Factoids to make entries, so Factoids are completely worthless

No more useless than your posts. Hardly useless making money but whatever floats your stratis scammy boat.

[Pap0u]

So people bought something useless, great even better. 80k looks like an expensive figure now, thanks for the clarification that people won't even need Factoids to make entries, so Factoids are completely worthless

No more useless than your posts. Hardly useless making money but whatever floats your stratis scammy boat.

Really? So why buy something for pretty much 100x the price which it's at now when you can buy it for  pennies on their website. They just said Factoids won't be the only way to make entries and we can buy EC directly from them so why do we need Factoids and why will Factoids even have a decent valuation? What will give them value, why should people even buy Factoids at these prices? let alone at all.

[AlanX]

Current amount of FCT (8.7 million) x value of FCT (1.9USD) / EC price (0.001USD) = 16.500.000.000. So this is the amount of entries that can theoretically be made with the current price of FCT, while Factom is now at 5.7 million entries. Seems like a big difference, but we all know once Factom starts to acquire big companies with big data sets to store on Factom's blockchain, it can go pretty fast. 16.5 billion is then suddenly not so much anymore. Especially if you keep in mind that a large part of the FCT will never be available for convertion into EC's, as they are used for trading/speculation and long term holdings. So in reality there are way less FCT available to really burn into EC's than the number of 8.7 million. This will drive the price.

Plus to me the inflation is not something that crazy, many fear that 73k FCT per month is crazy, but that basically means (if the company survives without burning any FCT) that it will double its supply in 10 years. So 16-20m FCT is not a huge supply either and that's the worst case scenario. That would never happen because the company will actually go out of business.

In any case and we any real usage, inflation will be very low or even deflationary. So if Factom gets any kind of traction that means the current price is a steal like many of us have said in the past.

I don't understand how FCT could be available to be burn into EC's before M3 as FCT's are always hold by someone in Poloniex or wallets. Actually and until M3, where burned FCT come from?

That is actually a good question. Maybe someone from Factom can answer this here?

Anyone holding FCT can convert that FCT to Entry Credits in a Factoid Transaction (our wallet handles building such a transaction).   So I am not quite sure what the confusion is.  You can buy FCT from Poloniex, then convert that FCT to Entry Credits.   Or you can buy Entry Credits directly from Factom.

 https://shop.factom.com/

(A note about shop.factom.com:  The idea isn't really to be a source of Entry Credits, given a price of .5 cents for something you can convert yourself for .1 cents.  The idea is really to provide a low friction path to Entry Credits which avoids wallets and Factoids and Exchanges.)

We expect there will be other sources for Entry Credits over time.

Paul

So is this your way of saying Factoids are useless and a way to take advantage of people in a unregulated environment as they are dumped upon us for sustained income by who knows?

If we can buy EC from the website as seen at shop.factom.com , what makes Factoids valuable or what will make them valuable? I just feel we are being misguided and tricked to be an income source for your startup.

We do the conversion of FCT -> EC for you.  We have no special place in the network, and we have to have FCT to provide the service.  The key value here is to allow users to access the protocol without having to wade through the wallet and cryptocurrency issues.

So I don't think it is accurate to claim FCT is useless.  It is required to provide the service.

[Mrfrismint]

Current amount of FCT (8.7 million) x value of FCT (1.9USD) / EC price (0.001USD) = 16.500.000.000. So this is the amount of entries that can theoretically be made with the current price of FCT, while Factom is now at 5.7 million entries. Seems like a big difference, but we all know once Factom starts to acquire big companies with big data sets to store on Factom's blockchain, it can go pretty fast. 16.5 billion is then suddenly not so much anymore. Especially if you keep in mind that a large part of the FCT will never be available for convertion into EC's, as they are used for trading/speculation and long term holdings. So in reality there are way less FCT available to really burn into EC's than the number of 8.7 million. This will drive the price.

Plus to me the inflation is not something that crazy, many fear that 73k FCT per month is crazy, but that basically means (if the company survives without burning any FCT) that it will double its supply in 10 years. So 16-20m FCT is not a huge supply either and that's the worst case scenario. That would never happen because the company will actually go out of business.

In any case and we any real usage, inflation will be very low or even deflationary. So if Factom gets any kind of traction that means the current price is a steal like many of us have said in the past.

I don't understand how FCT could be available to be burn into EC's before M3 as FCT's are always hold by someone in Poloniex or wallets. Actually and until M3, where burned FCT come from?

That is actually a good question. Maybe someone from Factom can answer this here?

Anyone holding FCT can convert that FCT to Entry Credits in a Factoid Transaction (our wallet handles building such a transaction).   So I am not quite sure what the confusion is.  You can buy FCT from Poloniex, then convert that FCT to Entry Credits.   Or you can buy Entry Credits directly from Factom.

 https://shop.factom.com/

(A note about shop.factom.com:  The idea isn't really to be a source of Entry Credits, given a price of .5 cents for something you can convert yourself for .1 cents.  The idea is really to provide a low friction path to Entry Credits which avoids wallets and Factoids and Exchanges.)

We expect there will be other sources for Entry Credits over time.

Paul

So is this your way of saying Factoids are useless and a way to take advantage of people in a unregulated environment as they are dumped upon us for sustained income by who knows?

If we can buy EC from the website as seen at shop.factom.com , what makes Factoids valuable or what will make them valuable? I just feel we are being misguided and tricked to be an income source for your startup.

We do the conversion of FCT -> EC for you.  We have no special place in the network, and we have to have FCT to provide the service.  The key value here is to allow users to access the protocol without having to wade through the wallet and cryptocurrency issues.

So I don't think it is accurate to claim FCT is useless.  It is required to provide the service.

Exactly. So whether you convert FCT yourself into EC's or you buy them directly from the shop, in both situations FCT are burned. But in case you do it via the shop, you pay 5 times as much. So FCT are not useless at all. Without them there is no way to get EC's. Buying via the shop means you don't need to buy FCT yourself first, but you use FCT owned by Factom. So PapOu, back in your cage again...

[AlanX]

Current amount of FCT (8.7 million) x value of FCT (1.9USD) / EC price (0.001USD) = 16.500.000.000. So this is the amount of entries that can theoretically be made with the current price of FCT, while Factom is now at 5.7 million entries. Seems like a big difference, but we all know once Factom starts to acquire big companies with big data sets to store on Factom's blockchain, it can go pretty fast. 16.5 billion is then suddenly not so much anymore. Especially if you keep in mind that a large part of the FCT will never be available for convertion into EC's, as they are used for trading/speculation and long term holdings. So in reality there are way less FCT available to really burn into EC's than the number of 8.7 million. This will drive the price.

Plus to me the inflation is not something that crazy, many fear that 73k FCT per month is crazy, but that basically means (if the company survives without burning any FCT) that it will double its supply in 10 years. So 16-20m FCT is not a huge supply either and that's the worst case scenario. That would never happen because the company will actually go out of business.

In any case and we any real usage, inflation will be very low or even deflationary. So if Factom gets any kind of traction that means the current price is a steal like many of us have said in the past.

Please note that while 5x price is quite the mark up, we expect this to be a very, very low volume service.  Someone who needs a few hundred EC to build a proof of concept will save way more than $2 to not have to mess with exchanges and wallets and go straight to application building.  And once they have real needs (100k's of entries) they can contact us (or some other FCT holder) and buy them at a much more reasonable volume based price.
I don't understand how FCT could be available to be burn into EC's before M3 as FCT's are always hold by someone in Poloniex or wallets. Actually and until M3, where burned FCT come from?

That is actually a good question. Maybe someone from Factom can answer this here?

Anyone holding FCT can convert that FCT to Entry Credits in a Factoid Transaction (our wallet handles building such a transaction).   So I am not quite sure what the confusion is.  You can buy FCT from Poloniex, then convert that FCT to Entry Credits.   Or you can buy Entry Credits directly from Factom.

 https://shop.factom.com/

(A note about shop.factom.com:  The idea isn't really to be a source of Entry Credits, given a price of .5 cents for something you can convert yourself for .1 cents.  The idea is really to provide a low friction path to Entry Credits which avoids wallets and Factoids and Exchanges.)

We expect there will be other sources for Entry Credits over time.

Paul

So is this your way of saying Factoids are useless and a way to take advantage of people in a unregulated environment as they are dumped upon us for sustained income by who knows?

If we can buy EC from the website as seen at shop.factom.com , what makes Factoids valuable or what will make them valuable? I just feel we are being misguided and tricked to be an income source for your startup.

We do the conversion of FCT -> EC for you.  We have no special place in the network, and we have to have FCT to provide the service.  The key value here is to allow users to access the protocol without having to wade through the wallet and cryptocurrency issues.

So I don't think it is accurate to claim FCT is useless.  It is required to provide the service.

Exactly. So whether you convert FCT yourself into EC's or you buy them directly from the shop, in both situations FCT are burned. But in case you do it via the shop, you pay 5 times as much. So FCT are not useless at all. Without them there is no way to get EC's. Buying via the shop means you don't need to buy FCT yourself first, but you use FCT owned by Factom. So PapOu, back in your cage again...

[tempus]

So people bought something useless, great even better. 80k looks like an expensive figure now, thanks for the clarification that people won't even need Factoids to make entries, so Factoids are completely worthless

..... "proof-of-no-clue". ;-)  

Please explain how it would be possible to make entries (buying EC's) without Factoids.

It's interesting to see that people can talk all day long about prices without even trying to understand the project.

[Mrfrismint]

I don't know if Paul replied to the last post, but there is no text under the quote there.

[GameStarter]

Current amount of FCT (8.7 million) x value of FCT (1.9USD) / EC price (0.001USD) = 16.500.000.000. So this is the amount of entries that can theoretically be made with the current price of FCT, while Factom is now at 5.7 million entries. Seems like a big difference, but we all know once Factom starts to acquire big companies with big data sets to store on Factom's blockchain, it can go pretty fast. 16.5 billion is then suddenly not so much anymore. Especially if you keep in mind that a large part of the FCT will never be available for convertion into EC's, as they are used for trading/speculation and long term holdings. So in reality there are way less FCT available to really burn into EC's than the number of 8.7 million. This will drive the price.

Plus to me the inflation is not something that crazy, many fear that 73k FCT per month is crazy, but that basically means (if the company survives without burning any FCT) that it will double its supply in 10 years. So 16-20m FCT is not a huge supply either and that's the worst case scenario. That would never happen because the company will actually go out of business.

In any case and we any real usage, inflation will be very low or even deflationary. So if Factom gets any kind of traction that means the current price is a steal like many of us have said in the past.

I don't understand how FCT could be available to be burn into EC's before M3 as FCT's are always hold by someone in Poloniex or wallets. Actually and until M3, where burned FCT come from?

That is actually a good question. Maybe someone from Factom can answer this here?

Anyone holding FCT can convert that FCT to Entry Credits in a Factoid Transaction (our wallet handles building such a transaction).   So I am not quite sure what the confusion is.  You can buy FCT from Poloniex, then convert that FCT to Entry Credits.   Or you can buy Entry Credits directly from Factom.

 https://shop.factom.com/

(A note about shop.factom.com:  The idea isn't really to be a source of Entry Credits, given a price of .5 cents for something you can convert yourself for .1 cents.  The idea is really to provide a low friction path to Entry Credits which avoids wallets and Factoids and Exchanges.)

We expect there will be other sources for Entry Credits over time.

Paul

Thank you Paul.
 It's better than what i thought. Factom customers don't even have to adopt crypto (buy btc, then buy FCT...) to use the technology. It's a killing bussiness model. Factom is using the best of blockchain tech without hustle their customer with it.  EC's demand  directly act as  buy pressure at the market price.
This misunderstanding point out that investors clearly need to be educated to be able to fully understand Factom valu. Even if i've followed factom for months i didn't totally integrated this point and it look like i am not alone.

[GameStarter]

So people bought something useless, great even better. 80k looks like an expensive figure now, thanks for the clarification that people won't even need Factoids to make entries, so Factoids are completely worthless

Nice try Papou, i think you showed us what you try to accomplish and how far you are qualified to give advice.

[AlanX]

I don't know if Paul replied to the last post, but there is no text under the quote there.

Forgot what I was doing I think.  I'll not delete the thing, but I'm guessing I hit the wrong button somewhere along the way.

Paul