[ANN] FACTOM - Introducing Honesty to Record-Keeping - page 151.

Mrfrismint

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Quote from: tempus on December 01, 2016, 06:40:26 AM

Quote from: Mrfrismint on December 01, 2016, 06:12:51 AM

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 :-)

tempus

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Quote from: Mrfrismint on December 01, 2016, 06:12:51 AM

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.

Mrfrismint

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Activity: 97

Merit: 10

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.

Mrboot

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Quote from: crazyivan on December 01, 2016, 01:21:53 AM

Quote from: Mimir on November 30, 2016, 11:39:27 PM

Quote from: crazyivan on November 26, 2016, 06:37:38 AM

That s what puzzles me. If Factom s really that good and this potentil s been recognized by several great names in the industry, how come XMR volume s 5x Factom or even more. It s gotta be related to the Polo margin lending which makes people keep their Factoids on the exchange, lending them for peanuts which supresses the price and consequently volume. Exodus s gonna change that big time and then we ll see the real market value of Factom. I ve got no other sane explanation.

Factoids were only ever intended as a payment to use the system, not to transfer wealth.
Always amazed FCT has so much volume on polo, where does it all come from? Usage of the protocol is why Factoids exist and nothing else, these carboncopy tradingbots fighting each other in an echochamber of cups and handles is just noise.

As for polo lending, FCT lending rates have been solid nearly all year, only in last few months is there a huge pool available at very low rates.
Below 0.1% daily see no value in leaving money on exchange, they are highly coveted things by the nefarious. Even if your particular coins don't get stolen you'll still be forced to pay up for it à la Bitfinex

I agree, this is why I believe most of Factoids ll get withdrawn as soon as we have a decent wallet. Also, this price drop s big time due to BTC skyrocketing again.

I agree people have huge bitcoin hopes, but to be honest i dont see it break 800 in december maybe januari.
I think in december we can even see a bitcoin decline, so a green altcoin field. but not too low my guess 650 level.

But on the other hand if the world keeps ^#?$& up more then it can break. Such a year but most effects will come in 2017.

I made some nice orders lower in the chart so if it dumps i have some nice accumulation happening.

M2 release will be the big switch, when people gonna use the entry coins. and a wallet. And the best thing no inflation yet.
Till m3 ofcourse but can you imagine company's already start using it. Already now 16 fct are burned on daily basis. approx. 38k entry's
If this build up x10 that would be a nice brun rate.

crazyivan

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Quote from: Mimir on November 30, 2016, 11:39:27 PM

Quote from: crazyivan on November 26, 2016, 06:37:38 AM

That s what puzzles me. If Factom s really that good and this potentil s been recognized by several great names in the industry, how come XMR volume s 5x Factom or even more. It s gotta be related to the Polo margin lending which makes people keep their Factoids on the exchange, lending them for peanuts which supresses the price and consequently volume. Exodus s gonna change that big time and then we ll see the real market value of Factom. I ve got no other sane explanation.

Factoids were only ever intended as a payment to use the system, not to transfer wealth.
Always amazed FCT has so much volume on polo, where does it all come from? Usage of the protocol is why Factoids exist and nothing else, these carboncopy tradingbots fighting each other in an echochamber of cups and handles is just noise.

As for polo lending, FCT lending rates have been solid nearly all year, only in last few months is there a huge pool available at very low rates.
Below 0.1% daily see no value in leaving money on exchange, they are highly coveted things by the nefarious. Even if your particular coins don't get stolen you'll still be forced to pay up for it à la Bitfinex

I agree, this is why I believe most of Factoids ll get withdrawn as soon as we have a decent wallet. Also, this price drop s big time due to BTC skyrocketing again.

Mimir

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Only a fool worries over what he can’t control.

Quote from: crazyivan on November 26, 2016, 06:37:38 AM

That s what puzzles me. If Factom s really that good and this potentil s been recognized by several great names in the industry, how come XMR volume s 5x Factom or even more. It s gotta be related to the Polo margin lending which makes people keep their Factoids on the exchange, lending them for peanuts which supresses the price and consequently volume. Exodus s gonna change that big time and then we ll see the real market value of Factom. I ve got no other sane explanation.

Factoids were only ever intended as a payment to use the system, not to transfer wealth.
Always amazed FCT has so much volume on polo, where does it all come from? Usage of the protocol is why Factoids exist and nothing else, these carboncopy tradingbots fighting each other in an echochamber of cups and handles is just noise.

As for polo lending, FCT lending rates have been solid nearly all year, only in last few months is there a huge pool available at very low rates.
Below 0.1% daily see no value in leaving money on exchange, they are highly coveted things by the nefarious. Even if your particular coins don't get stolen you'll still be forced to pay up for it à la Bitfinex

GrossBit

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Quote from: Pap0u on November 30, 2016, 08:11:18 PM

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

Pap0u

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Lol once again getting dumped...this is hilarious

lolikop

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Quote from: Pap0u on November 30, 2016, 05:33:27 PM

Quote from: lolikop on November 30, 2016, 03:34:16 PM

Quote from: crazyivan on November 30, 2016, 02:02:03 PM

Quote from: lolikop on November 30, 2016, 12:13:27 PM

Quote from: crazyivan on November 30, 2016, 12:03:25 PM

Quote from: Pap0u on November 30, 2016, 11:42:34 AM

The problem is margin trading. I'm a long term holder of Factom but I also buy and sell on margin on top of my normal holdings which I don't trade. There are too many people playing these swings, especially since they tanked the price so cheap. So now we see patterns of loading up between 28-30 and selling 30-32 for quick easy money over and over. We just need the demand to surpass the sell orders which honestly won't be happening for around over a year if I had to guess or by the time factoids are actually valuable beyond a doubt. Right now, news and speculation isn't enough because the big holders are making more than enough by margin trading, especially being able to short it. There is no need to pump this, they make the money regardless, why pump and give more free money to plebs away?

True, but as soon as we get decent wallet, lots of people re going to withdraw their money from Polo cause nobody makes any money from margin lending of Factoids on Polo. This is will drastically reduce trading quantities and affect the price.

So, big holders should turn to Factom and ask my favorite line, "Oh M2, where re thou?"

M2 will be released when fct reach 400k stop asking

Waiting for your genie for the magic lamp to push Factom to 400k. Is it there yet?

Sooner then u think, i allready got confirmation by supernatural powers...

I wish man. We had a good run testing 320k but then an unexpected dump down to 280k roughly for no reason....not so good. Now we can barely touch 300k again....I honestly think we might see much lower for a few months because there is no reason we should be letting people buy in this cheap for so long if it is going to pump bigtime soon.

Pure manipulation... but in the meantime lets talk here: https://bitcointalksearch.org/topic/why-im-a-factom-skeptic-marty-jones-reddit-1699729

Pap0u

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Activity: 644

Merit: 250

Quote from: lolikop on November 30, 2016, 03:34:16 PM

Quote from: crazyivan on November 30, 2016, 02:02:03 PM

Quote from: lolikop on November 30, 2016, 12:13:27 PM

Quote from: crazyivan on November 30, 2016, 12:03:25 PM

Quote from: Pap0u on November 30, 2016, 11:42:34 AM

The problem is margin trading. I'm a long term holder of Factom but I also buy and sell on margin on top of my normal holdings which I don't trade. There are too many people playing these swings, especially since they tanked the price so cheap. So now we see patterns of loading up between 28-30 and selling 30-32 for quick easy money over and over. We just need the demand to surpass the sell orders which honestly won't be happening for around over a year if I had to guess or by the time factoids are actually valuable beyond a doubt. Right now, news and speculation isn't enough because the big holders are making more than enough by margin trading, especially being able to short it. There is no need to pump this, they make the money regardless, why pump and give more free money to plebs away?

True, but as soon as we get decent wallet, lots of people re going to withdraw their money from Polo cause nobody makes any money from margin lending of Factoids on Polo. This is will drastically reduce trading quantities and affect the price.

So, big holders should turn to Factom and ask my favorite line, "Oh M2, where re thou?"

M2 will be released when fct reach 400k stop asking

Waiting for your genie for the magic lamp to push Factom to 400k. Is it there yet?

Sooner then u think, i allready got confirmation by supernatural powers...

I wish man. We had a good run testing 320k but then an unexpected dump down to 280k roughly for no reason....not so good. Now we can barely touch 300k again....I honestly think we might see much lower for a few months because there is no reason we should be letting people buy in this cheap for so long if it is going to pump bigtime soon.

lolikop

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Activity: 644

Merit: 500

Quote from: crazyivan on November 30, 2016, 02:02:03 PM

Quote from: lolikop on November 30, 2016, 12:13:27 PM

Quote from: crazyivan on November 30, 2016, 12:03:25 PM

Quote from: Pap0u on November 30, 2016, 11:42:34 AM

The problem is margin trading. I'm a long term holder of Factom but I also buy and sell on margin on top of my normal holdings which I don't trade. There are too many people playing these swings, especially since they tanked the price so cheap. So now we see patterns of loading up between 28-30 and selling 30-32 for quick easy money over and over. We just need the demand to surpass the sell orders which honestly won't be happening for around over a year if I had to guess or by the time factoids are actually valuable beyond a doubt. Right now, news and speculation isn't enough because the big holders are making more than enough by margin trading, especially being able to short it. There is no need to pump this, they make the money regardless, why pump and give more free money to plebs away?

True, but as soon as we get decent wallet, lots of people re going to withdraw their money from Polo cause nobody makes any money from margin lending of Factoids on Polo. This is will drastically reduce trading quantities and affect the price.

So, big holders should turn to Factom and ask my favorite line, "Oh M2, where re thou?"

M2 will be released when fct reach 400k stop asking

Waiting for your genie for the magic lamp to push Factom to 400k. Is it there yet?

Sooner then u think, i allready got confirmation by supernatural powers...

crazyivan

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Activity: 1652

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DMD Diamond Making Money 4+ years! Join us!

Quote from: lolikop on November 30, 2016, 12:13:27 PM

Quote from: crazyivan on November 30, 2016, 12:03:25 PM

Quote from: Pap0u on November 30, 2016, 11:42:34 AM

The problem is margin trading. I'm a long term holder of Factom but I also buy and sell on margin on top of my normal holdings which I don't trade. There are too many people playing these swings, especially since they tanked the price so cheap. So now we see patterns of loading up between 28-30 and selling 30-32 for quick easy money over and over. We just need the demand to surpass the sell orders which honestly won't be happening for around over a year if I had to guess or by the time factoids are actually valuable beyond a doubt. Right now, news and speculation isn't enough because the big holders are making more than enough by margin trading, especially being able to short it. There is no need to pump this, they make the money regardless, why pump and give more free money to plebs away?

True, but as soon as we get decent wallet, lots of people re going to withdraw their money from Polo cause nobody makes any money from margin lending of Factoids on Polo. This is will drastically reduce trading quantities and affect the price.

So, big holders should turn to Factom and ask my favorite line, "Oh M2, where re thou?"

M2 will be released when fct reach 400k stop asking

Waiting for your genie for the magic lamp to push Factom to 400k. Is it there yet?

zoose

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Activity: 163

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Quote from: Ahaezod on November 30, 2016, 12:35:49 PM

Reading all of you, I got the point. The so called manipulation seems to be partially due to a self-fulfilling prophecy.

There might be a whale playing with the market, but guess what, she's not alone.

What whale are you talking about? On Polo?

Ahaezod

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Reading all of you, I got the point. The so called manipulation seems to be partially due to a self-fulfilling prophecy.

There might be a whale playing with the market, but guess what, she's not alone.

lolikop

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Activity: 644

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Quote from: crazyivan on November 30, 2016, 12:03:25 PM

Quote from: Pap0u on November 30, 2016, 11:42:34 AM

The problem is margin trading. I'm a long term holder of Factom but I also buy and sell on margin on top of my normal holdings which I don't trade. There are too many people playing these swings, especially since they tanked the price so cheap. So now we see patterns of loading up between 28-30 and selling 30-32 for quick easy money over and over. We just need the demand to surpass the sell orders which honestly won't be happening for around over a year if I had to guess or by the time factoids are actually valuable beyond a doubt. Right now, news and speculation isn't enough because the big holders are making more than enough by margin trading, especially being able to short it. There is no need to pump this, they make the money regardless, why pump and give more free money to plebs away?

True, but as soon as we get decent wallet, lots of people re going to withdraw their money from Polo cause nobody makes any money from margin lending of Factoids on Polo. This is will drastically reduce trading quantities and affect the price.

So, big holders should turn to Factom and ask my favorite line, "Oh M2, where re thou?"

M2 will be released when fct reach 400k stop asking

crazyivan

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Activity: 1652

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DMD Diamond Making Money 4+ years! Join us!

Quote from: Pap0u on November 30, 2016, 11:42:34 AM

The problem is margin trading. I'm a long term holder of Factom but I also buy and sell on margin on top of my normal holdings which I don't trade. There are too many people playing these swings, especially since they tanked the price so cheap. So now we see patterns of loading up between 28-30 and selling 30-32 for quick easy money over and over. We just need the demand to surpass the sell orders which honestly won't be happening for around over a year if I had to guess or by the time factoids are actually valuable beyond a doubt. Right now, news and speculation isn't enough because the big holders are making more than enough by margin trading, especially being able to short it. There is no need to pump this, they make the money regardless, why pump and give more free money to plebs away?

True, but as soon as we get decent wallet, lots of people re going to withdraw their money from Polo cause nobody makes any money from margin lending of Factoids on Polo. This is will drastically reduce trading quantities and affect the price.

So, big holders should turn to Factom and ask my favorite line, "Oh M2, where re thou?"

Pap0u

sr. member

Activity: 644

Merit: 250

The problem is margin trading. I'm a long term holder of Factom but I also buy and sell on margin on top of my normal holdings which I don't trade. There are too many people playing these swings, especially since they tanked the price so cheap. So now we see patterns of loading up between 28-30 and selling 30-32 for quick easy money over and over. We just need the demand to surpass the sell orders which honestly won't be happening for around over a year if I had to guess or by the time factoids are actually valuable beyond a doubt. Right now, news and speculation isn't enough because the big holders are making more than enough by margin trading, especially being able to short it. There is no need to pump this, they make the money regardless, why pump and give more free money to plebs away?

Pap0u

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Activity: 644

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You can make the same money trading these swings over time, rather than passing up in free money waiting for the time it will take if it ever even reaches 600k lol

Mrboot

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Quote from: Pap0u on November 30, 2016, 09:11:47 AM

Just always buy under 30 and keep selling over 31, easiest money ever.

Till you sell at 31 and it go to 600.

AJB22

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CrazyIvan = Flip Flop

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Topic: [ANN] FACTOM - Introducing Honesty to Record-Keeping - page 151. (Read 2115898 times)