Topic: [ANN] FACTOM - Introducing Honesty to Record-Keeping - page 301. (Read 2115900 times)

You, my friend are a good thinker. I was thinking the same. Im glad we are apart of something so great. A real project after countless scams in the alt coin space.

Brian is a rockstar in my books. His replies are always on target, he is active in this forum and sincerely cares about the future of Factom and blockchain tech in general.  To be honest the entire team is very impressive.

Github hasn't shown activity for a couple of days? To be honest I haven't seen this before in a very long time.

IMO it could be two possibilities either the team is 'hung over' after partying too much during the bitcoin halving celebrations or they are currently preparing to market and release M2 officially (however I think an audit is in order, but not sure). The latter wouldn't surprise given the bitcoin halving is now behind us and Factom is ready to shine and show off this incredible historic milestone to the world of fintech.

A lot of FUD, disinformation and outright lies these last few pages. Trying to cure people from Dunning–Kruger is a frivolous pursuit. Read and inform yourself instead of reading these posters that is often nonsense. I'm a simple person probably like you all and I enjoy arguments and discussing interesting things but when people insist on pushing their agendas on fallacies it's really just a waste of time.


This discussion would be a lot more interesting if there weren't so much ignorant people here. For that reason I am putting several people on ignore now.


To add something on-topic, just look at what BrianDeery replies to: https://bitcointalksearch.org/user/briandeery-134381 and maybe consider why you aren't answered is because you ask something that is already in public domain or you ask something that you could figure out if you were truly interested in the technology or what you ask has been answered before.

+1

Testers: I don't criticize that you are not a tester. I'm not a tester as well and the reasons are the same. But it's not right in my opinion to say Maid would have a testnet as if Factom would not invite community-members to test.

Github: I also agree, at least regarding the direction. I often look into github without being a coder. But what is always visible is when there was an update and how many. It's like an activity-barometer. And that's impressive in Factom if I compare it to other projects I follow/ed.


Price: They sell EC's for 0.005 cent while the internal price is 0.001 cent.

But, 1. It's still possible for everybody to buy FCT's and to do the conversion oneself. 2. Theoretically you could open an EC-Store and sell it cheaper. 3. They sell it cheaper if somebody contacts them and asks for it and has reasons. One obvious reason would be a huge demand of course. But I also would make any bet, that they would sell it cheaper to everyone if they see reason to support the idea behind it. And before all: Factom is not finished yet and selling EC's is not a business yet. There wouldn't be much difference if they sell it or if they give it away for free and most likely a lot of the EC's from launch until now was for free for external Factom-usecases.  I believe it's all testing. Also for use-cases.

Twitter: They tweet all articles about Factom, but they also tweet all marketing-activities (let's say Tiana Laurence speaks at a conference), they even respond to questions on Twitter etc. They use Twitter much more than any other platform. And most likely it's because they reach much more ppl about twitter. It's about effectivity. This thread is interesting for maybe 5-10 guys who are active here and let's say another 50 who read it. This thread doesn't make much difference and they are already to big to focus on that. They need to be effective with their time and they are.

Plus: There are other platforms as well. And if you look where Factom is discussed you'll see: They react on it. Sometimes even in the comment-section of an article about Factom or another Forum etc. If somebody writes bullshit wherever possible - they set the record straight and they are pretty fast with that and it's often Paul Snow himself. It's hard to find FUD or misconceptions about Factom anywhere without correction.

What I want to say with that: It's obvious that they know what's going on and it would be wrong to believe they don't care. That's one reason for me to believe that they are perfectionists because they have a sense for details, even if it's "just" about things like that. They also know what's going on here and especially Brian Deery is active here as well. Paul Snow is more on reddit but also "everywhere" on the Internet. It's something I really focus on (communication in general) and they are not just good in that. That's the main-reason why I support them actively. I believe to see real honesty (which is a reason why I'm longterm-invested). It's impossible to see the bigger picture and to believe they would manipulate anything or delay with intention or don't care. It's "self-contradicting".

What I believe is: If they come to the opinion that criticism is based on a lack of knowledge in combination with impatient price-intentions they ignore that intentionally. And I would understand that, because if somebody is invested he should do at least his homework as an investor. And the Investor-side in Crypto is mainly not even investing. It's a mess. It's like Las Vegas. They don't want to play those games. I like it but I would hate it if I would be a Developer who works hard to build something that is really useful. I mean: We don't work. If we make profit we benefit of the work of others. And while we can get in or out in seconds, those who really do the work will be attached to their projects for years or even decades. For them it would be stupid to play our games.

Thats mainly cause atm Btc is around same levels even droped a little after the halving.

Yes they indeed looked for testers, but many dont have the expertice to be a tester, also you say look at github, Yes i can see a lot happen there but i have no idea about a status cause Github is way to technical
for normal people that cant read any line of code.

And about the price you do agree that atm they sell it like 5 times the value ? Unless maybe your a enterprice then they still will make profit. But anyway i was not aiming for the EC/FCT conversion cause indeed the entry coins stay the same dollar price.

And on Twitter please visit their twitter and say they are active, cause they really are not at all. Long time ago i see a truely self writter own tweet, And then i dont talk about retweeting same news 5 times.

I think M2 is completed unless the testers run into new bugs which happens until it doesn't. Last Github update from Testing was 8 days ago and for the optimistic it could be a sign the testers found no more bugs.

Everything looks good to me after spending a few days looking into their Github few weeks back and now keeping track of it. I think we'll see the "announcement" on Github first and then somewhere else as they didn't even announce the DHS grant before DHS did and when they did it was a few days later.

Good to see progress continuing on the Git. FCT FTW.

Price also has been holding strong against the BTC halving.

https://github.com/FactomProject/

I still believe comparing ETH and FCT s not adequate cause these two re not even in the same league.

Even after the DAO hack, even considering SIGNIFICANTLY higher numbers of Ether in the market and even taking into account constant daily supply from the miners, ETH s still much more desirable then FCT, the price shows it. The price is the most important signal which tells us how the market values ETH vs FCT and what market takers think these two tokens will generate in the future.

Again, do not get me wrong, FCT s got potential, it is a part of my small basket of coins I hold. However, these two re not even close. If FCT team does not learn from ETH and get into the race, well, you know what happens to the second best in tech industry. After all, I really do not see what FCT will be able to do that ETH cannot and will not be able to do.

My thoughts re not aimed towards bashing FCT, I d like it to be considered as an incentive to do something about the issue of NOT delivering on time and NOT informing holders what the fuck is going on.

https://github.com/FactomProject/

Several months ago, and not just once, they (Brian Deery I believe) said that they would appreciate testers. I don't know how many contacted them to act as testers. I did not because my technical knowledge is limited and I think a good tester should be able to give good feedback. But: They asked for it!

Updates: Of course they could give us more infos about the status. But what they've said several times makes sense. They will give updates about the important things but not more. And everybody is always free to check their github. Daily updates.




Why I say ETH is damn manipulated is because of it's volume and because of the bot-army. Most of all days there are about 5000-6000 users active on Poloniex. That's not enough for the huge volume of Ethereum. Factom is a much more normal market. Of course it's manipulated as well. Nearly all markets are. But I absolutely doubt that it's the team. Why? Because there was a time between launch and Dec 21 with very low volume and a very low price. That would have been a time for manipulations but there was no manipulation. It was just quiet and the people were complaining like they are now.

I don't believe that the Factom team does much more than follow the price without too much interest for now. And if they really would want to manipulate the market they also would use communication for that. If they would want it, they could pump and dump it however they would like to. It doesn't make much sense to believe in manipulation and to complain about too less communication at the same time. Communication would be part of a smart manipulation. And Paul Snow or Brian Deery could manipulate the price just with little hints if they would want that. No lies would be needed, just a manipulative use of language.

The most intense manipulation was the march-pump. The price jump had zero reason - besides the news: V. Buterin is invested in Factom. And for some days we had the same bot-army in Factom like we see in Ethereum and the margin-trading exploded. Right after it was shorted and the loan-interest was at 2%. I can't prove it, but I believe: Ethereum-ppl. Not saying the ETH-team. They also work hard on Ethereum. But I believe that those who manipulate Ethereum played with Factom. And if you subtract that pump and dump, the price is very stable since early January. And the volume is somewhere in the middle. Usually not extremely high but good and pretty stable.

The thing is: What we see now is the same pattern like it was between launch and Dec 21. It's just on a higher level. More volume and a higher price. It fits to the development and the news since that time.  



Even if all entries per month for now would be from customers who buy EC's on their site, and that's not the case, it would not be more than maybe $2000.

And it's not totally true what you say, because:

"For larger volumes of entry credits and enterprise level service, contact us directly about pricing."

And your "they are not in a hurry" with focus on EC's doesn't make any sense. If they would want to make money fast they would be in a hurry to get a higher EC-demand. And "They love this price" also doesn't make sense. The FCT-price doesn't matter because it doesn't change the EC-price. And the EC-price is a question of the price they set. It's always about the demand for them!

If you really try it with logic the conclusion must be: They do what they do to build a stable system. That will be the requirement for everything. High EC-demand = high FCT-price.




1. Stupid - your super smart opinion
2. still proud - interpretation
3. in need for more ppl - your super professional opinion

Substantiation? Not too many.



What do you miss on Twitter? They are very active with tweeting everything. And how hard it is to reply on simple questions? I also believed that. But even I (and I have time) was annoyed because people ask things they could find themselves in 1 minute. I wrote explanations about the relation between Entry Credit - demand and FCT price and hours later another guy with the same question. It's hilarious! And it would be crazy to waste time with that.



I'm really not sure what exactly you miss. Go on twitter and on reddit. It's true that they are not very active in this thread. But even that is not totally true because Brian Deery posts often: https://bitcointalksearch.org/user/briandeery-134381
Last post is from yesterday.

What they don't do is to give deadlines. And I know a Developer personally (not from Factom). He said that it's not possible to give exactly dates. And if it's done, it's near to impossible to not delay. It's normal.

Sorry to say i agree with Crazyivan, The Factom team are the worst ever in keeping people up to date they should look at Maidsafe they also are in a huge delay, but atleast they have weekly updates and statistics amd testnets. Thats how a great team should work.

As far as you say Ethereum is damn manipulated, i think Factom is even more manipulated by aswell traders as the Factom team.
Cause its a steady supply people with money can easly use factom to gain much more and more with the 10 million market cap and no inflation.

Also Factom sells Entry coins 4 to 5 times more expensive as market value, ofcourse they are not in a hurry. They love this price !!

Stupid enough they are still proud if you listen to Paul snow hes interviews, but they serieus in need of more people that know how to handle things.
For example Twitter, news release, weekly updates. Simple things but will add a value behind your community. How hard is it to reply on simple questions on Bitcointalk. Obcious really hard.

Dont get me wrong i like some parts what they do, but keeping the community updates is really poor give it a 2/10.

Funny is that you believe in Ethereum. Several times you compared both with the "conclusion": Ethereum has such a great team because they deliver etc. But do you see the damage? I'm not talking about the ETH-price. They have to face fundamental problems and a huge loss in trust. Investors on Polo may buy or not buy. The price is no indication. Which real business-partner would use Ethereum if they have to consider that it's near to impossible to be on the safe side with Solidity? DAO was coded from Ethereum-developers.

And Factom: They already have real business partners! They need to consider everything they can think of. They can't just release something and say: "Let's try if it really works." They need to test everything for a lot of scenarios.

And don't get me wrong. I also believe that the Ethereum-team is absolutely high-level. But if I consider everything that is needed to deliver a high-ambitious project like Ethereum or Factom, I would say: The team of Factom is more professional in every sense. And that's not just visible in what they do. It's also visible in what they don't do. They don't hype. They don't deliver something premature like DAO to get fundings for even more potential premature Ethereum-projects (slock.it) etc. They don't waste their time with high-risk-moves nobody can't predict in what bullshit-situations it might turn into. 

And, just btw: Ethereum is so damn manipulated. Just the DAO-CFC... I can't prove it, but I don't believe that it was possible without funding of the team-members themselves. That might be another reason to bail it out.

I'm glad that we don't see such things in Factom.

What we see is: A great idea, a very thoughtful design, perfectionism, skills, professionalism, honesty, hard work.

I agree with most of your arguments besides incredible team. 6 months delay in delivering a very important milestone cannot be attributed to an incredible team.

Pure speculation given the tech, many contracts in US, China and incredible team. No brainer.

Poloniex is the most liquid market.

Where can i buy this coin please  thanks.