Topic: [ANN] FACTOM - Introducing Honesty to Record-Keeping - page 273. (Read 2115900 times)
this is what l think about fct near future 0.01 sats early 2017
how many factoids have been burned so far?
https://docs.google.com/spreadsheets/d/1RUZLxxoAfT3C5jIJ144DLYdztYe_sqrKqbTlZuD05-s/edit#gid=445871101
I see, so is it "Entry Credits in Factoids" that is the burned factoids?
When Factoids are converted to Entry Credits, they are burned. So if you have 1 FCT and use that to buy 100 EC, the 1 FCT will be removed from the supply, and the 100 EC are usable to "Factomize" data whenever you like.
The conversion rate depends on the time of purchase (i.e. the market value of FCT at that point).
Until M3 is up and kicking, no new FCT will be added to the supply. Once M3 is released, ~73K new FCT will be released each month, in order to offset the burnt FCT.
how many factoids have been burned so far?
https://docs.google.com/spreadsheets/d/1RUZLxxoAfT3C5jIJ144DLYdztYe_sqrKqbTlZuD05-s/edit#gid=445871101
I see, so is it "Entry Credits in Factoids" that is the burned factoids?
Good new intro/overview of Factom from our friend Nxtblg:
http://www.enterstageright.com/archive/articles/0816/factom.htm
http://www.enterstageright.com/archive/articles/0816/factom.htm
Yes, but the number burnt Factoids does not seem to be that significant. How come?
The Factoid / Entry Credit system is currently sized to handle daily transaction levels that are roughly 100 (OK, 117.265 times by my calculation) times higher than the highest daily rate seen now. The Factom experience to date is like having an 18 wheeler truck gassed up and ready to go cross country, and using it instead like a minivan taking you down the block to the mall and back.
That transcontinental road trip is coming, and when it does, the truck is ready. If Factom's marketing department can get the user rate over that X100 threshhold with new users before M3 comes out, then forget the truck analogy and strap into your acceleration couch. We're going for a rocket ride.
Yes, but the number burt Factoids does not seem to be that significant. How come?
Can someone explain whats the difference between:
Cumulative User Entries vs. Cumulative User Application Entries
https://docs.google.com/spreadsheets/d/1RUZLxxoAfT3C5jIJ144DLYdztYe_sqrKqbTlZuD05-s/edit#gid=445871101
Ancun continues to rise in usage
Cumulative User Entries vs. Cumulative User Application Entries
https://docs.google.com/spreadsheets/d/1RUZLxxoAfT3C5jIJ144DLYdztYe_sqrKqbTlZuD05-s/edit#gid=445871101
Ancun continues to rise in usage
Almost 100k, thats a 50x increase since the usage uptick started in late July. The market is really underestimating the data that will be coming out in Q4 from these Q1 MOUs. I would expect total entries to exceed 10 mil before 2017 with the current deals, and with any future MOUs post M2 launch which will likely be commercial utilization double that usage into 2017.
Can someone explain whats the difference between:
Cumulative User Entries vs. Cumulative User Application Entries
https://docs.google.com/spreadsheets/d/1RUZLxxoAfT3C5jIJ144DLYdztYe_sqrKqbTlZuD05-s/edit#gid=445871101
Ancun continues to rise in usage
The first one are test entries from Factom, the latter are real world applications. Cumulative User Entries vs. Cumulative User Application Entries
https://docs.google.com/spreadsheets/d/1RUZLxxoAfT3C5jIJ144DLYdztYe_sqrKqbTlZuD05-s/edit#gid=445871101
Ancun continues to rise in usage
Can someone explain whats the difference between:
Cumulative User Entries vs. Cumulative User Application Entries
https://docs.google.com/spreadsheets/d/1RUZLxxoAfT3C5jIJ144DLYdztYe_sqrKqbTlZuD05-s/edit#gid=445871101
Ancun continues to rise in usage
Cumulative User Entries vs. Cumulative User Application Entries
https://docs.google.com/spreadsheets/d/1RUZLxxoAfT3C5jIJ144DLYdztYe_sqrKqbTlZuD05-s/edit#gid=445871101
Ancun continues to rise in usage
how many factoids have been burned so far?
https://docs.google.com/spreadsheets/d/1RUZLxxoAfT3C5jIJ144DLYdztYe_sqrKqbTlZuD05-s/edit#gid=445871101
how many factoids have been burned so far?
M2? Where is M2? Only M2!
Factom was waiting for page 200 on bitcointalk 😀
They needed the pattern to match:
FCT all time:
http://imgur.com/a/lj0Cm
BTC before the huge run up.
http://imgur.com/a/3H2kn
That s a bit optimistic. Still, everything s possible. But first it needs to go over 50 cause it does not seem to be able to break 46 limit.
M2? Where is M2? Only M2!
Factom was waiting for page 200 on bitcointalk 😀
They needed the pattern to match:
FCT all time:
http://imgur.com/a/lj0Cm
BTC before the huge run up.
http://imgur.com/a/3H2kn
M2? Where is M2? Only M2!
Factom was waiting for page 200 on bitcointalk 😀
M2? Where is M2? Only M2!
Let me offer another way of looking at things. Brian Deery has occasional referred to Factoids as, "Software Licenses" to access the Factom Network. Just think of a Microsoft or Oracle or Adobe or some large company could only create 8.7 million software licenses for an incredibly popular product. People could transfer that license but if every person and company who wanted just one license, only 8.7 million people could have ONE license. Problem is, many people and companies are going to want far more than one license because of the nature of the network.
Just think if you had a piece of software like Windows that a majority of the population use (remember, Factom wants to, "Factomize Everything"). But only 8.7 million copies of windows are in existence. How much would a copy of Windows be?
REALLY expensive. SO EXPENSIVE that you start breaking those licenses up into sub licenses. Instead of having 8.7 million licenses, because each of those would be so expensive, you have 87 million or 870 million (moving the decimal point left on Factoids).
Point being, I believe that Factoids are going to be so valuable that we need to begin to ponder what each decimal place should be called between Factoids and Factoshis.
Just think if you had a piece of software like Windows that a majority of the population use (remember, Factom wants to, "Factomize Everything"). But only 8.7 million copies of windows are in existence. How much would a copy of Windows be?
REALLY expensive. SO EXPENSIVE that you start breaking those licenses up into sub licenses. Instead of having 8.7 million licenses, because each of those would be so expensive, you have 87 million or 870 million (moving the decimal point left on Factoids).
Point being, I believe that Factoids are going to be so valuable that we need to begin to ponder what each decimal place should be called between Factoids and Factoshis.
Has anyone ever pondered the idea that Factoids should be worth MORE than Factom the company?
If so, what is your reasoning to support this position and what reasons do you have against the position?
If so, what is your reasoning to support this position and what reasons do you have against the position?
D-Lux has summed it up quite well on reddit with the google vs internet analogy which I agree with completely.
"Agreed—FCT is a sleeping giant whose toes are just starting to wiggle. Though I think a $3.42 sell point is still WAY too low. The value of Factom Inc. can be a reference point for the market cap of FCT, but in some ways they're very different, and in each case it suggests that FCT's market cap should be many multiples (possibly magnitudes) higher than Factom Inc's perceived value. In buying equity in Factom Inc, you're investing in a company that provides various services on top of the Factom network; but by investing in FCT, you're investing in the actual network. A very rough analogy would be between buying shares of Google (Factom Inc) vs. buying shares in the Internet (FCT)."
https://www.reddit.com/r/factom/comments/4x68v4/several_reasons_for_factoms_rise/d6dd1wd
Way back in 2015 we were discussing Factom and I said the following:
Can somebody tell me why this coin is going to the moon?
And is it still smart to step in? or is it FOMO now
Think of the bitcoin protocol as tcp/ipAnd is it still smart to step in? or is it FOMO now
Well, the www just got invented and Paul Snow is the next Tim Berners Lee.
Source: https://bitcointalksearch.org/topic/m.13321631
Has anyone ever pondered the idea that Factoids should be worth MORE than Factom the company?
If so, what is your reasoning to support this position and what reasons do you have against the position?
If so, what is your reasoning to support this position and what reasons do you have against the position?
D-Lux has summed it up quite well on reddit with the google vs internet analogy which I agree with completely.
"Agreed—FCT is a sleeping giant whose toes are just starting to wiggle. Though I think a $3.42 sell point is still WAY too low. The value of Factom Inc. can be a reference point for the market cap of FCT, but in some ways they're very different, and in each case it suggests that FCT's market cap should be many multiples (possibly magnitudes) higher than Factom Inc's perceived value. In buying equity in Factom Inc, you're investing in a company that provides various services on top of the Factom network; but by investing in FCT, you're investing in the actual network. A very rough analogy would be between buying shares of Google (Factom Inc) vs. buying shares in the Internet (FCT)."
https://www.reddit.com/r/factom/comments/4x68v4/several_reasons_for_factoms_rise/d6dd1wd
Has anyone ever pondered the idea that Factoids should be worth MORE than Factom the company?
If so, what is your reasoning to support this position and what reasons do you have against the position?
If so, what is your reasoning to support this position and what reasons do you have against the position?
Decent price, actually people wanna buy more when price dips, so let us re-enter again. 
Market recovering after a quite irrational dump of roughly 1/3 the order book. I believe it'll pick up next week with a few press releases.
There was somebody linking a fake article that never existed on thedashtimes about a "security issue" with Factom which might've caused last nights exit which Factom replied to here https://twitter.com/factom/status/764521719906332672
Factoms Series A completed https://bnktothefuture.com/pitches/factom-series-a
And Maidsafe stole the Poloniex show this weekend releasing an alpha version of a decades work. I'm impressed by their work and their undertaking but if an alpha takes a decade it's too long for me to stick around for their beta considering what that could happen up to that point.
Looking forward to this annoucement. Hoping it will appear on Coindesk like it did last year.
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