Topic: [ANN] FACTOM - Introducing Honesty to Record-Keeping - page 351. (Read 2115876 times)

I don't think you understand.  All Entry Credits are derived from burned Factoids.  It doesn't matter if the Factom store burns them when getting a CC order, or by burning Factoids yourself.

Think about this from a business perspective.  How would they add data into the system?


1) Buy Bitcoins
 -this is a non-trivial step today.  Do they issue a PO order?  Can they use the department credit card?  Both sound like a no.  result: No Factom usage.  End of project prototyping.

2) Send BTC to exchange and buy Factoids
 -Doable as a business, but it would be operating under the radar since corporate accounts are not really a thing.  Shapeshift might work too, if it is up at the time.

3) Use wallet to burn Factoids and buy Entry Credits.
 -doable, but awkward, as the community knows.

4) Now the business software can use the Entry Credits
 -Actual business logic can progress and applications can publish on the platform.

5) Convince legal department + accounting department that the IT department dealing in Bitcoin is not risky for the business.
 -Most of the world is still scared of Bitcoin.



or:

1) Use company credit card to buy Entry Credits.
 -Factom, inc. processes credit card, pays CC fees, bears chargeback risk.  Factom inc. buys Factoids off the market.  Factom inc. converts Factoids to ECs and assigns them to the business's address.  Factom, inc has a strong incentive to keep the system working.

2) Business software can use the Entry Credits to publish.




Which part about this are you upset about again?  This is changing it from impossible to possible for businesses to use Factom.

If you think that we are making too much profit, you are free to setup your own Credit Card merchant account and try to undercut.  Complaining about a business taking too much margin without considering overhead means that more research needs to be done.

I do understand to take some profits from sells of factoid, however according to the price on the website with 1500$ you give 100K entries...That makes 1.5 cents per entry so 15 times more expensive than true price.

I guess it is a mistake of mistyping in the store otherwise I could not agree with your prices.

Thanks for clarification

I disagree. Project as big as this one should have information dissipated on a daily basis. Which is not the case here.

Welcome to the altcoin ghetto, Mr. Deery.

Yes, it's okay. As long as you protect your password, etc., your Factoids are stored on the blockchain and will stay there.

There really working hard indeed, cause they need to sell there entry coins agains a bad burn rate.

Stupid that its not mentioned a lot, that entry coins purchase and factoids are not 1/1 corrilated.

Team Factom,

Despite a couple vocal individuals, please know that the VAST majority of us are very supportive of you and appreciate your hard work.  I know how hard what you're doing is and I am thankful for you.

Keep up the good work!

What dissapoint me is that your selling your clients expansive entry coins, and cause its not easy to use they wont use factoids.

So you can earn more and more and the factoid price gets abused! hey but happy your dissapointed aswell!

The burn rate should be way higher, but i get the feeling your all smooth talkers but dont really care about investors just earnings.

I have checked my address on the factom explorer and it is showing my balance. That means everything is ok?

This disappoints me.  Increasing the noise in the channel decreases information transfer.

https://en.wikipedia.org/wiki/Noisy-channel_coding_theorem

Factom thread moved to altcoins. Now we need more love from the community to be able to keep it up and bumped all the time. People, pls make an effort, we need to get more people interested into Factom.

Thanks! That's the widget I used to get my address some time ago. I didn't know the private key was added to the output. 

oh, man!  two different questions with the same answer.

Keymaker is a program which can be run offline and operates on the 12 words.  It both finds and translates errors from the koinify sale into a private key.  It also shows the public key that the 12 words turn into.  With the public key, you can check the balance on the explorer.  I would doublecheck that the 12 words have a balance with keymaker before I just filed them away for later.

https://www.factom.com/keymaker-setup-guide/

Yester i already try to installed it was half working
server part not works, it quit automatically.
Factom.conf not found!! I change it manual.

So my opinion still not okay and not user friendly.

There is a simple solution on Poloniex. If you go to "Deposit & Withdrawals" --> FCT Factom

...there is a field for the Koinify-passphrase to import your ICO-amount.

Thanks for the reply. I think I will wait until there is a more simple solution offered. As long as I have the 12 words passphrase everything is fine...am I right? I mean I could wait forever, couldnt I?

Okay, but how do I generate the private key from my passphrase?

There was a problem with the koinify sale.  The website occasionally created 12 words with an invalid checksum. 

Instead of ignoring the checksum in the main wallet, the keymaker tool was updated to calculate the correct private key.  The correct private key can then be imported into the wallet.  in the GUI, use the key icon at the bottom.

Yes, retail prices are typically higher than wholesale prices or the prices to make the product.

http://www.thedesigntrust.co.uk/what-price-to-use-when-talking-to-retailers/

Now that the biggies are here: I'm having trouble with the Factom GUI wallet.

1. I tried the twelve-word-passphrase import function three times with my original Koinify password. In all three cases, I got "Invalid byte at position 16." What's wrong? Is it a bug, or have I entered something incorrectly?

2. I checked the balance in my address, which I got from the address generator using that same password. (Thankfully, the address checker worked!) In my GUI wallet, I got a balance of zero. The official Factom blockchain explorer shows the correct balance of 3'000.


What gives?