FACTOIDS are coming!

[BlindMayorBitcorn]

Just read the Factom whitepaper. Anyone else do that? Thoughts?

http://www.coindesk.com/factom-launch-date-token-crowdsale/

[OROBTC]

...

Mr. Mayor!  

I too have been following factom.org's great adventure, although it is hard for me to understand it all (I'm not a programmer).  factom seems to be the largest player in this "space" (putting up secure info on the blockchain).  There are two enterprising individuals who will put a hash of whatever you want on the blockchain (and I have used them both as experiments):

proofofexistence.com

and

bitproof.io

I wish them (factom and the above mentioned two guys) all the luck in the world!  Someone (IMO) is going to make a lot of money in this niche.  But, I do not see how it will be me.  Buying a factoid (or two or three)?  Well, would their "production" be limited?  Who might buy them?

"OP_RETURN" examples (in the sense of how they look to non-owners) can be seens via coinsecrets.org.  I have found it interesting that you occasionally see unusual symbols in the outputs...

[BlindMayorBitcorn]

Thanks for the post Brother Oro!

[Daedelus]

So the USP is storing a hash on the blockchain?

[BlindMayorBitcorn]

^Could you dumb that down for me a bit?

[Daedelus]

^Could you dumb that down for me a bit?

Sorry. USP = is modern business (Shark Cage) obfuscation for Unique Selling Point. Meaning, is this the reason it was designed and the reason that will make it succeed.

There are two enterprising individuals who will put a hash of whatever you want on the blockchain

From this, I assumed Factoid's main use case would be to enable anyone to store hashes on the blockchain. I just wondered if this was the case.

[OROBTC]

...

Placing information that cannot be altered on the blockchain looks to be a very promising technology.  The below link is to my bitcointalk comment on an experiment I recently ran with bitproof.io to place a hash of a Google Doc (some 520 KB):

https://bitcointalk.org/index.php?topic=986206.msg10752544#msg10752544

TL;DR: this is the actual link to my document (picture, links and a small table from MS Excel):

https://docs.google.com/document/d/1M-vO0h0W_nLy-Z1Sz8xiYAhaCbmTMThL8FnW7hcoCkw/

*   *   *

factom.org has their own thread here I just discovered the other day (factoids are discussed a little, I look forward to hearing more soon):

https://bitcointalk.org/index.php?topic=850070.0

It is up to 9 pages now, so it will take awhile for a beginner to plow through it all.  It looks like to me that factom is trying to do this on a LARGE SCALE while proofofexistence.com and bitproof.io are easier for "plain folks" to work with.

*   *   *

In my opinion, this is an exciting concept, using services to lock in information.  I just do not see how little old moi makes any money from it yet...