Topic: [ANN] FACTOM - Introducing Honesty to Record-Keeping - page 390. (Read 2115933 times)

the price in yuanbaohui is stable now.

The Factom project should only work in 1Q 2016, so we still have two months before the end 1Q 2016.
So do not expect anything soon, maybe wait until April.

Chinese New Year lasts 15 days, from February 8 to February 23, 2016.
http://www.chinahighlights.com/travelguide/festivals/spring-festival/chinese-zodiac-years-of-2011-to-2020.htm

Well, Chinese New Year effects will cease by the end of this week and then we turn towards the next milestone.

Factoids(FCT) an American coin (token) created by the Factom company from Austin, TX. Just the main buying / selling of this coin in China.
It is therefore natural Chinese New Year effect on trading in this coin (token).

http://coinmarketcap.com/currencies/factom/#markets

Statistics today (volume 24 hours):

Yuanbaohui (China) FCT/CNY   $ 181,496 = 62.61 %
Poloniex (US) FCT/BTC   $ 106,981 = 36.90 %   
Bittrex (US) FCT/BTC $ 1,413    = 0.49 %   

Total Factoids: 8753720 (today)

Is this a Chinese coin? Why should it have anything to do with Chinese New Year? I thought it is Western coin.

Ups, a nice price dump. It seems Chinese New Year and exchange of crypto into Yuans has had a lot of infuence on Factom. Let s hope this is temporary.

The Block Chain Conference to include key presentations concerning development, deployment of blockchain-based approaches by global businesses

(...)

Honesty is Subversive – How to Build Transparent and Accountable Business Systems with Block Chain Technology - Factom has tools to leverage the security of the blockchain, without the scalability limitations of bitcoin. See the three latest tools that could change data as we know it. Take away knowledge to influence your industry and learn what is in store for blockchain in 2016. It will be presented by Tiana Laurence, CMO of Factom.
http://www.bitcoinisle.com/2016/01/28/the-block-chain-conference-to-include-key-presentations-concerning-development-deployment-of-blockchain-based-approaches-by-global-businesses/

Just be patient and get as many FCT as possible in the meantime. This token s got a nice team and a great idea behind it, I expect the price to go up at least 4x it s now by the end of the year.

Speakers announced for Blockchain and Bitcoin Africa Conference 2016

(...)



The speakers announced so far include:

Alakanani Itireleng, CEO of SatoshiCentre Pty Ltd.
Jared Tate, founder and creator of Digibyte.
Jonathan Levin, co-founder of Chainalysis.
Marcus Swanepoel, co-founder and CEO of BitX.
Tiana Laurence, CMO of Factom.
Verengai Mabika, lead business developer at BitFinance.

https://coinreport.net/speakers-announced-blockchain-bitcoin-africa-conference-2016/

Deloitte: New Blockchain Applications Will Accelerate Adoption
http://www.coindesk.com/deloitte-report-blockchain-use-cases-adoption/

All these applications can be built on the basis of Factom Project.

Need to join on the Yuanbaohui chinese exchange and the need to verify the account normal working Chinese number for SMS, searching in Google, but unfortunately could not find a workable number, who knows the service in which you can buy or get free Chinese number for SMS?
Thanks for the help

1. As described in the initial token sale documentation, to pay for the server+engineering time, new factoids would be created at a rate of 20%/year of the token sale amount.  4379795.611338 factoids were sold, which corresponds to 875959.1222676 per year or 72996.5935223 per month.

The federated servers goal is to make each unit they are granted become more valuable.  The best way they have of doing this is to increase the amount of value people are sacrificing to place data into the blockchain.  The more people are using the system, the more demand there is for the tokens, and the higher the market price.  If we were trying to make factoids be money, only paying transaction fees would keep the supply stable.

In contrast to many other projects, Factoids are not trying to be money.  We already have internet money, and that is bitcoin.  Factoids are a tool to pay the servers in a scalable decentralized way, coupled with a way to provably show that value was destroyed.  

The closed loop feedback nature of the system means in the long term (absent speculation), the dollar amount of the factoid inflation will match the dollar amount of entry credits being purchased.  Speculation thrown into this will drive the dollar price up or down from this equilibrium.  Now when we have this mismatch between the source (inflation) and the sink (entry credit purchases) then the increased or decreased supply will tend to correct the price towards equilibrium.  

Contrast this with your transaction fee model, where speculation would be the whole point of the token.  At that point factoids would be competing to be money, which goes against what we are trying to do.

2. most systems can be attacked by throwing money at them.  The best we can do is to make it so that an attacker needs to expend more value than the rest of the network combined.  

Optimally we would use thermodynamic proof of work, but as history has shown, unless you are Bitcoin, using proof of work is more of a liability than a benefit.

The darkcoin masternodes seem like proof-of-stake.  Daniel Larimer has some interesting recent thoughts on proof of stake.


http://bytemaster.github.io/article/2016/01/04/The-Benefits-of-Proof-of-Work/

We think that the people who have the most interest in the success of the system are the ones who are actively using the system.  The ones purchasing entry credits are the ones using the system.

On that note, we are setting up a delegation system, so you can direct your Entry Credit support to your favorite blogger, who presumably actually pays attention to what is going on.   They would then vote on your behalf.

3. 40% of the token sale amount was granted to early purchasers.  60% of the token sale amount was granted to early contributors.



http://allcoinsnews.com/2015/05/16/factom-raises-2278-btc-in-software-token-crowdsale/

no.  google decided to finally retire some of their go crypto repositories, and we needed to compensate so that it would continue to compile.  although bip39 was developed by the same people behind the slush pool and trezor, there is no connection.

If I understand correctly, the Factom (FCT) will be added to Trezor.
https://github.com/FactomProject/go-bip39
https://www.bitcointrezor.com/

The Chinese Exchange Yuanbaohui is almost entirely taken away trade FCT

Data at this time (the volume for 24 hours):
Yuanbaohui 91.04 %  = $ 1,607,930
Poloniex 8.86 % = $ 156,578
Bittrex 0.10 % = $ 1,766

One of those new Oxyblockon's! 

What is "proprietary, open source software"?

Factom in TOP 50 Built In Austin startups to watch in 2016
"Factom helps enterprises migrate applications to the blockchain with custom tools and services built on the company’s proprietary, open source software..."
http://www.builtinaustin.com/2016/01/25/50-austin-startups-watch-2016

ETH is being pumped by a few..

For an ordinary "pump and dump" clone altcoin I would say "yes, you're right!"

But Ethereum is nothing like that, it's potential is huge and I think we just ain't seen nothing yet.

Ethereum for dummies is a nice video that shows what it's potential is, though we could use a shorter version of the video.
https://www.youtube.com/watch?v=U_LK0t_qaPo

Same for Factom, today's price is not even relevant for what it will be when they achieve their goals.

2016/2017 will be a great year for Bitcoin 2.0 projects.