Topic: [ANN] FACTOM - Introducing Honesty to Record-Keeping - page 227. (Read 2115900 times)

Yeah one other point ..

Factom does care about FCT investors. Evidenced by the CEO Paul Snow and another member coming out and posting on these forums  in response to all of this  on a Saturday.  IMO I wouldn't  doubt as they discuss this,   they will be putting out more by- monthly  general updates to keep everyone abreast and combat this type of minuplation. I also think they are realizing they can't treat FCT price as inconsequential to their success because they got funding  by different means.  FCT price is a public barometer of there success and achievements, that's just public perception . In the future they may need to leverage  their factoids for funding so they must treated them as a company asset, not a by product.

Can you believe that minuplation caused FCT to lose more than 30% in a few days ? Nothing wrong with the company, no bad news. Just few people creating fear and minuplation of the price. WTF ??!! If there was ever a time to buy low! I just can't believe how successful they were at minuplating people. If you liked FCT at 50-55 there absolutely no reason you wouldn't love it now.  Nothing is actually changed except perception. Perception based on nothing but manipulation.  I'm just glad that we figured out what the hell was going on. Thanks Factom for clearing this up !

Good to see you back! The Factom-community clearly needs clear heads who write against hysterical minds! ;-)

Thanks for the kind words, D-Lux.  I may get more involved more but most likely will drift back onto the sidelines.  Demanding career and time with family leaves little time to play with his as much as I'd like.  Speaking of which, the Factom team deserves as much.  Saw on twitter that one guy got uneasy about them taking a minute to celebrate birthdays at the office (because they should be working on M2).  Relax people!

Have a good one!

Whoever dumped out there coins are seriously very gullible and it's in your best interest to not read the forums if you can't seperate fantasy from reality. I would like to thank whoever created all this, it allowed me to scoop up another 4 BTC worth for cheap. Thanks again. Love and kisses.

I took a step away from this thread for the past couple days to clear my head, but just read the last 50+ posts and the one above stood out to me as being particularly clear-headed amid the confusion and FUD right now. So I'm reposting it, as I think it shouldn't be lost in the shuffle. Anyway thanks for this, Astmandu. Hope to hear more from you in the future.

And thanks Paul and Brian for weighing in—your responses help clear up some of the more persistent confusion/FUD on here and Reddit. And ... hope the events of the past day or two don't distract too much from the amazing work you and your team are doing. Anyone who's done a deep-dive into Factom knows what I'm talking about.

Now that their minuplation  game has been discovered and verified. They are now exposed to others who might want to take  advantage of them as well. Anyone in crypto that makes money by these  methods are paying close attention to what's going on here for sure.  There's always someone bigger in the food chain looking for a meal. Pigs get fat but hogs get slaughtered, and this one is about as hog as they come. This group of manipulators  are obviously very smart and have honed the system. Everyone makes mistakes though I'm sure there's somebody out there would like to make a trophy out of these guys.

fudders always fuds,dumper always dump, pumper always pump, me is always buy if a project is promising.
in a year time FCT will be traded around 0.1 even above
good luck everybody

Just to add a bit to your response.

We will make most of our money selling applications and products that utilize the Factom protocol.  Factom Inc. does not speculate with tokens and will not make money with tokens no matter what direction the token price takes. The tokens were overwhelmingly distributed to contributors and the community at the end of the crowd sale.  Once Elections are in place, new tokens will be distributed to those elected to run Factom Servers.  Until that point no new tokens are generated. Now and forever, all transaction fees and Entry Credit conversions are burned.  They do not flow to anyone.

Thus tokens ultimately will provide incentives to support the protocol, and thus support what we are doing in building solutions using the protocol.  Those running Factom Servers can only increase the value of the tokens issued by increasing use of the protocol and thus reducing the supply of tokens. Regardless,  the cost of using the protocol is not just inexpensive, it is constant whatever the price of the token.  Factom was designed this way because the markets we are targeting need data services, not transfers of value.

I have a personal interest in the token, certainly.  And Factom will enhance that value by supporting the protocol and creating real world, scalable solutions that use the protocol.

Paul

I think by the CEO making a public statement they weren't selling ?
Like he just did ? WTF?  Continue the fudding, create doubt on everything counter to your deception.
The  manipulation is over Paul Snow and Factom  just stated 2 times they aren't behind this.
The CEO and a team member here just made a public statement saying they aren't. They can be held liable if found otherwise so I pretty much take that as fact they aren't involved.


You state they've only made something like 35000 from selling entry credits?
I'd like to point out something here, they've sold 35000 dollars in  credits while they are in beta, not even a finished product.

These are real, continually paying customers? This amount grows by each new entry. They are now at 4mil and growing monthly. Real corporate and government customers. Looking at their last entry they just added more new names to that list.  They've also got a total of 30 million in  corporate  funding and $250,000 from DHS. What other crypto has real paying customers and funding from a government agency? I can't think of any!

Compare that in terms valuations. We aren't talking stocks valuations here, it's about comps, comparables, and potential. This is cryptos, early adoption, where a something like BTC or LTC can be worth hundreds of  millions or a few  billions without doing much. It's the potential we are invested in. Clearly with paying customers FCT deserves a higher  valuation than most. We are early adopters, when the main stream hits you won't be able  to purchase a fraction  BTC or FCT at these levels.

Manipulators only weapon is fear and doubt. Know what you're investing in and the reason why. And don't set a stop sell order, because manipulators like these are praying on you.

Here's what I've noticed, any news or facts they don't like in the forums will be followed by, posters trying to bury that info. They will come on and post anything just to move that info a page or two back. They then will create a post of fear and or doubt. A few people on the polo troll box chime in playing in to it as well. Then they dump a little and repeat the process.

Factom has been targeted because of a very small tradeable float.  I estimate less than 4 mill tradeable outside of insiders.  So how does that break down? How much out of that 4 mil does the whale own to manipulate. They also know a lot people keep their coins on polo, at least  until a new wallet comes out.  Almost all trading occurs on Polo. All of this allows a large group or whale to buy up and manipulate the price.

So don't give them what they need, fear, doubt,  stop order.

I would like to add:

Because of the great team behind Factom, the Factoid-market is nearly perfect for manipulators.

Reasons:

1) they have time to accumulate without any risk, because they can be sure: the team will be there next week, next month and next year
2) they have a lot of scenarios to react on: Factom may seem quiet sometimes but in fact they (Factom) push out a lot of news
3) they have the chance to dump in combination with hysterical controversy, rising BTC-price and orchestrated FUD - and to start again with 1)

+1

It's a shame this thread has become such a cesspool. I hope you guys don't waste too much time worry about what a few weirdos on Bitcointalk & Reddit have to say. Most of us realise that the market is highly volatile and we're taking a long view. Looking forward to the next update :-)

Thanks for this! Now we have something to quote to hysterical teens - and pump/dump groups who imitate hysterical teens. ;-)

Agreed, the 'value' is in the ground breaking technology and network. 

Keep up the great work Paul. Factom github is evidence of the ongoing, collaborative work effort being performed by a highly motivated team.

Looking forward to the public release of the M2 testnet.

Not entirely sure how we could easily prove transactions on an exchange are not ours.  But more to the point, there is little reason to think that we would, since there isn't any advantage to our company to do so.   

We are working on serious projects and serious technology.  Building the best applications on the strongest technical foundation is the best way to create value.

Paul

Thank you Factom for this..

This paragraph jumped out at me.. Remember folks fundamentals...

 However we just want to make sure you guys know Factom Inc. is a well funded company, we have enough money to go on for a long while, and our team is growing at a steady pace.

Nothing too odd it is similar with illiquid penny stocks. If you suspect them of doing this then best bet to contact Polo since if they are then they aren't walking in here to say so.

As someone pointed out the large dumps is someone mostly selling to themselves. It's not possible to sell that amount of FCT on a regular basis. They'd be out quickly. The easiest explanation and probably correct one is that it is a MM technique and if you don't like the MM in a market then trade another one.

Well I've finally found a denial from Paul Snow that they're selling FCT. At least that's something.

https://www.reddit.com/r/factom/comments/55dpo1/fud_in_social_media_responsible_for_recent_price/

It would be so easy for them to prove it, why don't they just do that?

Dear Factom supporters,

We haven't posted here in a while as this thread has become a den for speculators, fudsters, and people who care more about making a profit with FCT rather than talk about Factom and what we are trying to do.
However we just want to make sure you guys know Factom Inc. is a well funded company, we have enough money to go on for a long while, and our team is growing at a steady pace.
We also want to make sure you are aware the company is not engaged in market making/trading in any way, shape or form. This is not what we do, we build software.

One piece of advice we want to give is do not risk money you are not ready to lose. Make your own judgement and do not listen to ANYONE on this thread, the promoters or otherwise.
Do not base your judgement on anything you read positive or negative on this thread nor anything else that doesn't come from our official channels and from Factom itself.

FCT are needed to make entries into Factom once they are converted and burned in the process. That is their main function, anything else is speculation.
From our side we are trying to do our best to make Factom known to every company we deem could use a system for honest record keeping, identity, and so on.
That's what we are concentrating on in terms of marketing and business development.

We will never invest any resource in promoting FCT on its own nor we will spend much time to post on this thread either. We like to leave the discussion to the community.
Our Brian Deery and Paul Snow, who are incredibly busy, occasionally post here (bless them) if someone has a technical questions or queries related to the network and software.
Milestone 2 (M2) also known as "Factom Federation" is being worked on every day by our developers and tested by our QA team. We will not release it until stable enough for the community to try out and take it from there.

A reminder of our official channels below, we encourage you to follow, like and subscibe:

• https://factom.com
• https://twitter.com/factom
• https://facebook.com/factomproject
• https://www.youtube.com/channel/UCZlpFmzDKrSmTObhSPuhdSw/featured
• https://www.reddit.com/r/factom/

Grossbit pointed out the fundamentals to you. Currently they've sold 4 million entry credits. That's about 35000 dollars. These are facts, not FUD.

If I was in their position, I'd be selling factoids too.

Now that last sentence, that was fud.......

Funny I believe there are paid fudders.. very lucrative I hear..