Topic: [ANN] FACTOM - Introducing Honesty to Record-Keeping - page 314. (Read 2115935 times)

Higher price means a more secure network as more resources are put in to compete. People tend to forget that when speaking about incentive. Developers do not want to discuss prices not because they don't care but because it's unprofessional to do so.

FACTOM AT DEVCON1: https://youtu.be/bLzwYthfcVc?t=2s  (Factom talk starts towards the end. Around 24min in.) Entire video is awesome though!  Agree. I look at FCT as more of a share. The fact they own half does not concern me. It would obviously be in their best interest to hold that stake. The implications of their product are massive. Some people may attempt to manipulate the market but this wont last long. When people start to realize this will be very valuable in the years to come. Weather you like it or not FACTOM is making real world deals. China smart city, DHS deal with US GOV. There are bound to be more in the pipeline. The versatility of FCT is what make it very appealing also. It could potentially support major projects such as Ethereum, Storj, MAID in the years to come.  Even BITCOINS bloat issue... see gavinandresen.ninja/it-must-be-done-but-is-not-a-panacea    (factom mentioned)

one point u miss is
they sold only half of the FCT and half of them they own as company

this alone tell me they will care about price

they just dont care now because they know its maybe years away of cash out slowly phase

but they will care trust me

but also this means FCT is now just a pump and dump coin for traders
or buy and dont care for years coin for investors

Not sure if anyone else realizes the fact that almost the entire market is down trending but FACTOM is trending up over the past week or so. Looking very healthy.

With a little luck Bitcoin will stabilize in the current range and stay there for a while. That would be a good base for FCT to rise - for others as well of course. But, I expect Bitcoin to be very volatile over the next time.

Price has been nice and stable. BTC should fall further in the coming weeks. I expect FCT to continue to do well...I have been watching the charts close. Looks very healthy. M2 is on the horizon I can feel it.

You constantly claim the Factom team wouldn't care about their Investors. As if they wouldn't update us, as if it would be a mystery how to get in contact with them if needed.

You try to give the impression, they just would've "used" their ICO-Investors. And you poor guy feel used (you said that, without even being an ICO-Investor which gives an extra-entertainment-point )

More important: You spread desinfo like there would be "another way" to purchase Entry Credits, without a demand for Factoids, which is bullshit. EVERY TIME Entry Credits are purchased, Factoids are converted into Entry Credits and "burned"!
  

I don't care about your opinion. But you spread desinfo here. And I see you as dishonest because it's kind of weird to complain about a delay regarding M2 but at the same time you praise Ethereum while they obviously released not just a flawed DAO-project but have to face very serious problems with the whole platform - Ethereum --> Solidity flaws. Plus: Everybody who bought into DAO is in a huge loss now. Plus: All DAO-ETH will reach the market in another way it was planned. ;-)  But yeah, complaining about Factom and Ethereum is the real deal. That is nothing but a joke.



Because of your constant and superficial complaints about M2. But especially because you felt used as an Investor ("Still, doesn't change the fact I felt used." #3008) - I still get tears in my eyes reading this.


No, it's not a lie. But it's a lie to claim they would've made a promise. And being late in software development... that's totally unusually in your opinion? I often said: If they would make vacation, tweeting beach-pics instead of working, you maybe could have a point. But it's obvious that they are working their ass off on multiple fronts. And it's obvious that there is progress on multiple fronts. It's visible in the github, it's obvious because of the partnerships, it's obvious that they are doing a lot of marketing and so on. But yeah, they don't do marketing for guys like us. They do it to get customers for the system instead of hyping Factoids to the moon. Could they do that? Of course they could. They wouldn't need more than maybe 60 minutes to trigger a buy-panic. But they are professionals, not Shitclonecoin-Developer who want to dump their shit.


 Man, it's not just about Bitcointalk. There is also reddit, and just for example: Here are posts of Paul Snow about Factom of the last days:

https://www.reddit.com/r/factom/comments/4p9xm2/segwit_and_factom/d4jb493
https://www.reddit.com/r/btc/comments/4ooxnr/dept_of_homeland_security_awards_200k_to_factom/d4fjv3v
(....and so on, there are more....)

The same is true for Brian Deery. They are also active in other platforms, plus twitter etc.  

And yes, they don't write here often. But why should they? To hold our hands or tell us fairytales? They give constant updates and that's enough. They are not responsible for the market dynamics. They are not responsible for short-term-price-changes. They are not responsible for guys who buy high, feeling used without any rational reason (what have you done for Factom?) and complaining constantly. You want them to work because you want profit, while you do.... what exactly?



You can say whatever you want to. But if you spread desinfo I will say what I have to say. In your eyes that may be cheerleading or whatever. I don't care because at least I give infos.

And just by the way: While you call all and everything a "fact", I very often say "in my opinion" or "out of my view" or "I believe" or "I think" to make clear what is objective information and what is just my personal opinion.  

Name one lie I have stated here. Pls, just one.

I have offered nothing but my opinion here. Your problem is that you simply cannot accept somebody thinks different then you do. Why is this so hard?
I accept you have different opinion then I do, very, very pink and I d even dare to say not based on fact but your own interpretation of facts but I still don't have a problem accepting your opinion. On the other hand, you call my opinion whining. Why? Cause I state the obvious. Factor team s big time late with M2. Is that a lie? They don't even bother coming to this thread and talking to people. Is that a lie? When was the last Factom post? In one of their last posts they ve stated they don't give a shit about Factom price and they won't bother informing us here cause they re focused on other stuff. Is that a lie? Do I need to quote that post? So what lies have I stated here?

I ve seen so many good projects over the years with so many Bitcointalk threads populated with groupies and cheerleaders like you which have crashed and burned. NOT saying this is going to happen to Factom, I m sure this team s smart and capable to deliver. However, this does not mean I m not going to explore and expose everything I do not like about this project.

It's not because you think "differently" or because you have another opinion. You keep on telling lies, you spread des-info and you call that "facts" (or now you call it "truth" - even hurting truth, which is laughable). And really, your whiney behavior was kind of entertaining some months ago but since some time it's only annoying.

Please don't quote him. ty
[/quote]


Noted.
Price has been looking stronger over past few days. Buy support also up. What are your thoughts sir?

I'm also not a one of the ICO-Investors. You was it who claimed Factom wouldn't care about their ICO-Investors (and they were not selected. everybody was free to buy - I just wasn't aware). That's why I told you that they most likely disagree with you, because those who still hold are more than safe in the profit-zone. And I told you that it's wrong anyway, plus some other facts you try to distort and some infos you obviously doesn't understand, even if somebody tries to explain it again and again...


P.S.: It's kind of paradox to say "I keep trying to explain to people discussion does not have to based on mutual insulting" and to continue with "assholes like you" ;-)

P.P.S: Thanks for the laugh.

I know, I know, truth sometimes hurts. Also not having sheep mentality and blindly following demented sheppard also hurts. Guess what, there s someone who thinks differently, they MUST be a troll.

1. The "argument" of crazyivan was that Factom did an ICO but now they wouldn't care about their Investors. That's kind of "double-wrong".
2. I didn't buy the ICO but right after launch and continuous the first three months and I still buy if I have money free and the price is cheap in my opinion.



Factom should buy Factoids not from Poloniex but from "loyal Investors" at higher prices? Those loyal Investors can sell their FCT 10 times above ICO-price on Poloniex. No need for a Factom-charity-organisation.

And what Factoid-holders hope for is a widely used system, because every time somebody wants to place data into Factom and purchases Entry Credits ---> Factoids are converted into Entry Credits and out of the system - "burned".

The higher the use, the higher the conversion-rate of FCT's --> EC's = less FCT's in the System = higher price


At the same time there are about 73k new created Factoids each months as payment for the federated server.



They didn't give a prediction because they can only think in scenarios. Should they make promises without hard facts? But take a look here, just the last months:

iSoftStone and Factom Announce a Partnership to Integrate Blockchain Technology and Smart City Solutions
https://www.factom.com/isoftstone-and-factom-announce-a-partnership-to-integrate-blockchain-technology-and-smart-city-solutions/

Ancun and Factom Inc Announce a MOU for the Integration of Blockchain Technology and Traditional Notarization Services in China
https://www.factom.com/ancun-and-factom-inc-announce-a-mou-for-the-integration-of-blockchain-technology-and-traditional-notarization-services-in-china/

Rongdu Technology and Factom Inc. Announce a Partnership to Build New Fintech Solutions with Blockchain
https://www.factom.com/rongdu-technology-and-factom-inc-partnership/

DHS S&T Awards $199K to Austin Based Factom Inc. for Internet of Things Systems Security
https://www.factom.com/dhs-st-awards-199k-to-factom-inc/


Or here you'll find even more company-names, partially without that there would be announcements yet (most likely testing):

Usage Statistics
https://docs.google.com/spreadsheets/d/1RUZLxxoAfT3C5jIJ144DLYdztYe_sqrKqbTlZuD05-s/edit#gid=445871101




Entry Credits are only used to place data into the system: 1 Entry = 1 Entry Credit = $ 0.001
They are pegged to the use of the system.

And again: Every time somebody needs Entry Credits, Factoids are converted into EC's and "burned".


 
Factom will be decentralized. It needs an incentive to run the federated servers. FCT's are the payment for that. It's like a Factom-currency. You can trade it, you can transfer it and the price can fluctuate.

EC's are no Crypto-Currency and they have a fixed price. Big companies like banks don't touch cryptocurrencies because of regulatory issues. But they can purchase Entry Credits for Dollars. And no matter how customers purchase EC's (first FCT's and convert it into EC's themselves or directly for $), every time Factoids are converted into Entry Credits and burned.

And if you think about that: It's a nearly perfect economical design. Here is why:

1. A decentralized system with incentives for professionals to run the federated server.
2. No need for customers to touch any Cryptocurrency, they don't even need to know about the existence of Factoids
3. The price of Factoids can fluctuate, but because of the burning-rate it will reflect the real use of Factom


If they would use just Entry Credits  --> as a token, they would have at least two problems:

1. A fluctuating price would mean: Tomorrow it could cost twice as much as today. No company would ever use such a system.
2. It would be a cryptocurrency - a lot of companies are not allowed to buy a cryptocurrency to have access to a system


This is the most elegant system I've ever seen. They've eliminated all kinds of friction regarding their potential customers, and at the same time they've found a perfect way to keep it decentralized. The best of both worlds without weak points I would know of.

well well well ...no fact ? 

I have a feeling this guy is going to turn into the ICEBREAKER of this thread. That kid from Monero crew.

[/quote]

Please don't quote him. ty

I have a feeling this guy is going to turn into the ICEBREAKER of this thread. That kid from Monero crew.

Well, Factom has not been designed to serve the purpose of a few selected ICQ investors. I know I wasn't one of them and I m sure huge majority of current holders are not. I keep trying to explain to people discussion does not have to based on mutual insulting but I guess assholes like you simply have never learned how to do it so I need to reply in kind. This is NOT fucking communism and not everyone s going to agree with you just cause you want it. FFS, learn it.

"Everybody who bought into the ICO" were not many ppl honestly, a few very lucky IF they held, which is doubtful.

If the team said, o.k we will have a queue set up (by chain height) so that they entry credits will be by seniority on the store front. That would be appealing to long term investors. In other words if they said you can exchange your FCT to us at store front set price for being loyal investors, BEFORE the servers that would make sense.
Fact: The current model is this, you guys holding FCT just hope for the best.

Have they given us any sort of #'s not btctalk users predictions, but real hard data as to what they reasonably see will be the entry credit demand? I apologize if they have I just can't read through 100's of pages here.

Fact: if the entry credits are not pegged to a free market demand than it's flawed no?

Edit: Yes i understand EC's are not ever to be traded on any free market and they are separate from FCT. Why they didn't make the EC the token and FCT they server reward is beyond me?

1. Everybody who bought into the ICO is with about 3.5 times in profit in BTC - a fact
2. Everybody who bought into the ICO is with about 10 times (!!!) in profit in Dollar - a fact
3. The Factom team continuous delivers and keeps us informed - a fact
.........just check this: https://twitter.com/factomproject/with_replies
....................or this: https://www.factom.com/blog/
4. Everybody can check that they are working hard here: https://github.com/FactomProject/  - constant updates - a fact
5. Directly purchased Entry Credits (for $) nevertheless "burn" Factoids - A FACT! (I often tried to explain but obviously you don't get it)
6. So yes, please stop with your bullshit-stories

I may have missed some nuances sure, IMO we will see in the next 5 years ideas that are not supported by incentives fail. BTC works because of it's constant block payout incentive. When the first private blockchain owned by a bank is compromised they will understand the power of incentivized decentralized entities.  

I'll reread and reread the info, I just haven't seen for awhile any information that incentivizes holding factom if entry credits are pegged to an arbitrary amount set by the core team.

Aren't the servers set at 32 max? How is that decentralized?