Author

Topic: [ANN] FACTOM - Introducing Honesty to Record-Keeping - page 217. (Read 2115900 times)

sr. member
Activity: 644
Merit: 250
Why do I have a feeling something or someone s intentionally keeping Factoid price low and under controls? For example, look at Monero, 1 media event and the price propels 10x up. With Factom, it s a constant stream of great events, a great team behind the entire project, an actual company, large VCs, state support, huge market potential, constant presence on most important crypto conferences, important milestone just to be reached and decreasing number of tokens. Yet, as soon as the price goes up a bit, there s a series of dumping to keep in controlled.

I ve seen some other evidence which support this claim which I do not want to reveal yet until I have a solid proof. However, most of you will agree, Factom should be doing much, much better price wise and I m not talking about one time pump. I m talking about the actual value of Factoids which give access to the technology.

This is very true and sad. Only reason they can do this is due to no regulations and nobody can stop them. All of crypto is manipulated in a sense by big holders, we are a purely speculative market with some projects being more concrete than others; Factom being one of them. I feel they are just doing there best to hold, make people give up and lose patience because they know this will be such a huge winner. Factom could easily have a 20-50x from here with sufficient liquidity as well to cash real substantial profit out.
member
Activity: 98
Merit: 10
Why do I have a feeling something or someone s intentionally keeping Factoid price low and under controls? For example, look at Monero, 1 media event and the price propels 10x up. With Factom, it s a constant stream of great events, a great team behind the entire project, an actual company, large VCs, state support, huge market potential, constant presence on most important crypto conferences, important milestone just to be reached and decreasing number of tokens. Yet, as soon as the price goes up a bit, there s a series of dumping to keep in controlled.

I ve seen some other evidence which support this claim which I do not want to reveal yet until I have a solid proof. However, most of you will agree, Factom should be doing much, much better price wise and I m not talking about one time pump. I m talking about the actual value of Factoids which give access to the technology.

I agree with you.  Huh
newbie
Activity: 43
Merit: 0
Why do I have a feeling something or someone s intentionally keeping Factoid price low and under controls? For example, look at Monero, 1 media event and the price propels 10x up. With Factom, it s a constant stream of great events, a great team behind the entire project, an actual company, large VCs, state support, huge market potential, constant presence on most important crypto conferences, important milestone just to be reached and decreasing number of tokens. Yet, as soon as the price goes up a bit, there s a series of dumping to keep in controlled.

I ve seen some other evidence which support this claim which I do not want to reveal yet until I have a solid proof. However, most of you will agree, Factom should be doing much, much better price wise and I m not talking about one time pump. I m talking about the actual value of Factoids which give access to the technology.

lol look at btc, it soo will get pump and all alts go down. This is the reason.
member
Activity: 84
Merit: 10
Why do I have a feeling something or someone s intentionally keeping Factoid price low and under controls? For example, look at Monero, 1 media event and the price propels 10x up. With Factom, it s a constant stream of great events, a great team behind the entire project, an actual company, large VCs, state support, huge market potential, constant presence on most important crypto conferences, important milestone just to be reached and decreasing number of tokens. Yet, as soon as the price goes up a bit, there s a series of dumping to keep in controlled.

I ve seen some other evidence which support this claim which I do not want to reveal yet until I have a solid proof. However, most of you will agree, Factom should be doing much, much better price wise.

That's an interest perspective.  Since I've taken a position, mostly based on the fundamentals you mentioned, I've been paying attention to the price action and would agree it seems unique compared to some other cryptos.  If you have read Reminiscences of a Stock Operator which follows the life story of Jesse Livermore, you learn of the turn-of-the-century bucket shops and pure manipulation taking place in the market 100 years ago.  Crypto is now what the stock market was then.  A guy like Livermore would completely dominate crypto, a true whale.  Someone with resources could plan quite an operation over time with FCT. 

When I first got into crypto I bought DOGE on Cryptsy.  I saw firsthand, and profited along the way, how Wolong played that entire market.  Then he was gone.  It was a masterpiece.  I'm not comparing that to here, but just recognizing that a person with resources could take the market either way at his pleasure and slaughter us sheep.  The lucky won't know until it's over, the rest of us will die in the slaughter.
legendary
Activity: 1652
Merit: 1007
DMD Diamond Making Money 4+ years! Join us!
Why do I have a feeling something or someone s intentionally keeping Factoid price low and under controls? For example, look at Monero, 1 media event and the price propels 10x up. With Factom, it s a constant stream of great events, a great team behind the entire project, an actual company, large VCs, state support, huge market potential, constant presence on most important crypto conferences, important milestone just to be reached and decreasing number of tokens. Yet, as soon as the price goes up a bit, there s a series of dumping to keep in controlled.

I ve seen some other evidence which support this claim which I do not want to reveal yet until I have a solid proof. However, most of you will agree, Factom should be doing much, much better price wise and I m not talking about one time pump. I m talking about the actual value of Factoids which give access to the technology.
member
Activity: 84
Merit: 10
Anyone knows what the customnet is on github? M2 has just been merged into customnet on github

Yes, looks like the Genesis Block has been added to the code  Cheesy

Are you sure? I can't figure out if it is anything of importance.
This one: https://github.com/FactomProject/factomd/commit/8926f2ed003392bd62e7fa9b6402d650c32e5c54

Brian Deery posted this on reddit earlier this morning in response to a question asking what customnet is about:

Up until now we have been testing with the genesis block created from the koinify software sale. For the m2 testnet it did not make sense to continue using that. Instead we will have a different genesis block for the testnet. https://github.com/FactomProject/factomd/commits/testgenesis

you are seeing the customnet feature branch. This creates a feature where personal testnets use their own blockchain, and also have different network IDs. This stops different personal test networks from talking with each other, unless specifically intended.

https://www.reddit.com/r/factom/comments/55wazf/ideas_test_m2/

haggis, I might as well be reading Chinese when I go to the github pages.  Do you have any idea as to what it all means?  Deery is saying they will have a different genesis block for the testnet but the address he provides has commits dating back pretty far.  When will we know testnet has is live?


When the public testnet goes live, we will announce it.


Thanks, now I don't need to learn Chinese!
full member
Activity: 183
Merit: 100
Anyone knows what the customnet is on github? M2 has just been merged into customnet on github

Yes, looks like the Genesis Block has been added to the code  Cheesy

Are you sure? I can't figure out if it is anything of importance.
This one: https://github.com/FactomProject/factomd/commit/8926f2ed003392bd62e7fa9b6402d650c32e5c54

Brian Deery posted this on reddit earlier this morning in response to a question asking what customnet is about:

Up until now we have been testing with the genesis block created from the koinify software sale. For the m2 testnet it did not make sense to continue using that. Instead we will have a different genesis block for the testnet. https://github.com/FactomProject/factomd/commits/testgenesis

you are seeing the customnet feature branch. This creates a feature where personal testnets use their own blockchain, and also have different network IDs. This stops different personal test networks from talking with each other, unless specifically intended.

https://www.reddit.com/r/factom/comments/55wazf/ideas_test_m2/

haggis, I might as well be reading Chinese when I go to the github pages.  Do you have any idea as to what it all means?  Deery is saying they will have a different genesis block for the testnet but the address he provides has commits dating back pretty far.  When will we know testnet has is live?


When the public testnet goes live, we will announce it.
member
Activity: 84
Merit: 10
Anyone knows what the customnet is on github? M2 has just been merged into customnet on github

Yes, looks like the Genesis Block has been added to the code  Cheesy

Are you sure? I can't figure out if it is anything of importance.
This one: https://github.com/FactomProject/factomd/commit/8926f2ed003392bd62e7fa9b6402d650c32e5c54

Brian Deery posted this on reddit earlier this morning in response to a question asking what customnet is about:

Up until now we have been testing with the genesis block created from the koinify software sale. For the m2 testnet it did not make sense to continue using that. Instead we will have a different genesis block for the testnet. https://github.com/FactomProject/factomd/commits/testgenesis

you are seeing the customnet feature branch. This creates a feature where personal testnets use their own blockchain, and also have different network IDs. This stops different personal test networks from talking with each other, unless specifically intended.

https://www.reddit.com/r/factom/comments/55wazf/ideas_test_m2/

haggis, I might as well be reading Chinese when I go to the github pages.  Do you have any idea as to what it all means?  Deery is saying they will have a different genesis block for the testnet but the address he provides has commits dating back pretty far.  When will we know testnet has is live?



sr. member
Activity: 434
Merit: 250
The more I read about Factom, the more I believe it is  good long term investment.
I'm going to buy a few coins, put them away and check the price in a year or two from now.
If this company is able to successfully partner with some governments or big companies, the price of the coin could really make a nice profit.
sr. member
Activity: 423
Merit: 250
will there be any light wallet or easy to use wallet solution for factoid with M2 ?

Yes. Factom will improve the GUI, but maybe even more interesting is:

https://www.exodus.io will implement Factoids right after M2.

Great. I dont want keep tokens on exchange anymore and im too stupid to use present FCT wallet. Who made it, gosh! Smiley

It's not that hard, but of course the GUI can seem complicated on first sight. But usually you can find all answers here:
https://www.factom.com/devs/docs/howto/factoid-wallet-gui-guide

What you already can do and it's easy: Paperwallet
https://www.factom.com/devs/docs/howto/use-factoidpapermill

What I do is: I have a little offline Laptop I generate keys on. And I only use the GUI if I want to transact. And that works pretty well for me.


But, soon it all will be easier!

Yea i tried to use this wallet with this nice turtorial about month ago, i sent some small amount of tokens to it, but after restart i got errors or shutdown like @schnib said and after 2 days playing with this GUI i deicidet to keep tokens on exchange. But ill try Paperwallet for now, thank you for advice
sr. member
Activity: 270
Merit: 250
the point is with the current GUI and fatcomd solution so many guys including me keep getting errors or shutdown or stopped syncing etc.
but thx tempus for your patience with all of us Smiley
legendary
Activity: 1960
Merit: 1128
will there be any light wallet or easy to use wallet solution for factoid with M2 ?

Yes. Factom will improve the GUI, but maybe even more interesting is:

https://www.exodus.io will implement Factoids right after M2.

Great. I dont want keep tokens on exchange anymore and im too stupid to use present FCT wallet. Who made it, gosh! Smiley

It's not that hard, but of course the GUI can seem complicated on first sight. But usually you can find all answers here:
https://www.factom.com/devs/docs/howto/factoid-wallet-gui-guide

What you already can do and it's easy: Paperwallet
https://www.factom.com/devs/docs/howto/use-factoidpapermill

What I do is: I have a little offline Laptop I generate keys on. And I only use the GUI if I want to transact. And that works pretty well for me.


But, soon it all will be easier!
sr. member
Activity: 423
Merit: 250
will there be any light wallet or easy to use wallet solution for factoid with M2 ?

Yes. Factom will improve the GUI, but maybe even more interesting is:

https://www.exodus.io will implement Factoids right after M2.

Great. I dont want keep tokens on exchange anymore and im too stupid to use present FCT wallet. Who made it, gosh! Smiley
hero member
Activity: 984
Merit: 1000
Anyone knows what the customnet is on github? M2 has just been merged into customnet on github

Yes, looks like the Genesis Block has been added to the code  Cheesy

Are you sure? I can't figure out if it is anything of importance.
This one: https://github.com/FactomProject/factomd/commit/8926f2ed003392bd62e7fa9b6402d650c32e5c54
legendary
Activity: 1246
Merit: 1005
https://twitter.com/HamdanMohammed

Prince of Dubai

last three tweets sounds like a use case for Factom...

full member
Activity: 183
Merit: 100

that would support the current price (which at that time was 0.005 I think) at 78k rate of inflation


Inflation only starts after M3 is complete. It will be quite a long time before any new factoids are created.
Until then all TX fees and Entry Credits will keep on burning.

Factom is one of the few deflationary coins out there currently.
ETH supply will double within a few years, which doesn't seem to bother many people.

The ~73K per month inflation rate was calculated as being about 10% of the initial supply of Factoids per year.  Assuming no use of the protocol at all (I think a rather conservative, worse case inflation bound assumption) the supply of Factoids will take 10 years to double.  On the other hand, if the use of the protocol takes off, we may never see any inflation.

The design of the protocol was driven around how we could have a near automatic management of deflation and inflation to manage the total supply of tokens so as to stabilize the token price.  If the token price was high relative to the use of the protocol, then the supply would grow. If the token price was low relative to the use of the protocol, the supply would shrink.  In either case, the use of the protocol remains stable.

I think this is rather unique in the crypto space.

Paul
legendary
Activity: 1960
Merit: 1128
will there be any light wallet or easy to use wallet solution for factoid with M2 ?

Yes. Factom will improve the GUI, but maybe even more interesting is:

https://www.exodus.io will implement Factoids right after M2.
sr. member
Activity: 270
Merit: 250
will there be any light wallet or easy to use wallet solution for factoid with M2 ?
member
Activity: 106
Merit: 10
Only a fool worries over what he can’t control.

that would support the current price (which at that time was 0.005 I think) at 78k rate of inflation


Inflation only starts after M3 is complete. It will be quite a long time before any new factoids are created.
Until then all TX fees and Entry Credits will keep on burning.

Factom is one of the few deflationary coins out there currently.
ETH supply will double within a few years, which doesn't seem to bother many people.
Jump to: