Topic: [ANN] FACTOM - Introducing Honesty to Record-Keeping - page 417. (Read 2115876 times)

hi
will there be a qt wallet for non tech Factoids holder?
Kind Regards

Ok, so here's a question or two..

Lets say the market price of factoids is 0.001BTC and the price of 1BTC is 10$ and I'm the only factom user:
a. How many factoids are burned when I use 1000$ to buy EC's ?  
AND
Lets say the market price of factoids is 0.001BTC and the price of 1BTC is 1000$:
b. How many factoids are burned when I use 1000$ to buy EC's ?  

According to your answer, the same amount of factoids are being burned on both cases.  Is that correct ? Can a Factom member confirm this?

Where email support. koinify or poloniex?

Thank so much Fargo.

Factoids are measured in Bitcoin value.

Entry credits price is fixed to a certain tiny dollar amount. ( forgot how much )

So when Factoid price goes up, you're going to need less of them to buy entry credits.
Or you could buy entry credits directly from, for example, Factom Inc. But Factom inc. will still need to convert Factoids to entry credits.

"There is a fixed number of Factoids that will be paid to the servers. This is roughly 73,000 Factoids per month."

"If the value of Factoids exceeds the number of factoids used, then the supply of factoids will decrease, pushing the price up.
If the value of Factoids is less than the number of factoids used, then the supply of factoids will increase, pushing the price down."

"Starting midday Friday, the Factoid/Entry Credit (EC) exchange rate will be adjusted to better reflect the market price. This brings the cost to enter data back to the expected $0.001/KiB. We will try to keep the exchange rate within 25% of the observed Factoid market price."

These maybe taken out of context, but I'm trying to figure this out..

Factoids are being traded with bitcoin.
Is the factoid value being measured by the dollar or the bitcoin ?

Email support. They got back to me quick.

Did you try unplugging your computer and plugging it back in?

Help me please.

I can't transfer my Factoids(FCT) from koinify to poloniex.

I try type 12 keywords and wait 24 hours ago. It nothing.

and avaliable in koinify my balance.

Who same me.

No problem! The numbers are not quite actual I just saw:


Currently it's 8754987.03066099.


The total supply is visible if you click on the latest block:
http://explorer.factom.org

Thanks a lot!

Quoting Paul Snow:

"We started out with 8759968.58633800 factoids in block 0. Fast forward to the latest block at the time of me writing this post, you see the supply is 8756528.27066099 factoids in block 6432.
That means the supply of factoids is down by 3440.31567701 factoids. This is because until we get the full protocol up and running, and all the federated servers are in place, there is no inflation, no payments made to the servers. This is because we wish to be fair to the crowd sale, and also to give the protocol a chance to take hold and gain some growth in the use of the protocol before inflation sets in. When inflation does set in, it will be at a fixed rate of ~73000 tokens per month (10 percent of the crowdsale total each year).
Keep in mind, that with use of the protocol we also experience deflation. All fees paid for transactions, build entry chains, and write entries remove factoids from the total. They are not paid to the servers."
https://www.reddit.com/r/factom/comments/3ozje2/eli5_what_are_factom_selling_when_they_sell/

What is the total supply of FCT? Is it just 8.7M or there are more?

anyone?

you better sell before it goes even lower..

If you look on the frontpage, you'll see a long list of high profile partners.

Any contacts you've made with someone interesting in using factom? Any partnerships with apps that will use it? Or there is still no interest from others on using factom?

They are used, means they don't exist any longer.

Find this information from Kuala official website, they confirmed injected 400 thousand dollars into Factom Inc. ,really fantastic!!!!

http://www.kualainnovations.com/pdf/14-10-15-kuala-announcement-investment-in-factom.pdf

By the way: I tried to find out some informations about the potential... how much demand there could be for entrys. And the good thing is: Potential is nearly everywhere and I believe it will depend on the Applications that will be build on the system. I found this Animation about data-volume of known companies:

http://pennystocks.la/internet-in-real-time/

I don't know if that is precise, but "just" dropbox has incredible high rates of uploads. And sure, it's doubtful that Factom will has something like that in the near future, but on the other side the system is open for everything and every direction. So, maybe one day. I believe it's possible. And if we calculate the dropbox-uploads as entrys:

Per minute about 600,000
Per day: 864 Mio

864 Mio multiplied with $0.001 would be $864,000 per day for entrys.


And sure, that's more like a "fun-calculation" and Factom won't be a cloud-service. But it's open for nearly anything and very useful for a lot of Applications, cloud-services included. And I believe it has a lot more attraction than Bitcoin itself. At the moment we do mostly everything with credit-cards etc., so Bitcoin as payment-method is still a niche. But everybody and everywhere it's important to organize data and all kind of data.

So... the potential is huge and not just for some companies, also for normal users/private persons. With that being said: I believe, the price for EC's should stay cheap. I'm sure that it will grow fast if it's cheap.


And what's also interesting and will be exciting: The FCT-price won't be just about the reality. I won't reflect just the real value of the system at a moment. It will anticipate it. The price will react on every good news and at the same time a higher FCT-price won't have bad influence on the entry-volume. I really like that "two-step-system" from FCT's to EC's.