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Topic: [ANN] FACTOM - Introducing Honesty to Record-Keeping - page 450. (Read 2115876 times)

legendary
Activity: 927
Merit: 1000
Anyone want to buy my koinify factoms? Iv got 20000 but I need the money for some holiday spending money. Inbox me if interested (not a scam look at my rating on here)

Consider that to access the coins on Koinify you will need the secret passphrase. Which also will be needed to import your Koinify purchase into the Factom Wallet when it goes live.

If you buy from someone there will be two people knowing the passphrase. So a potential buyer will have to trust the seller. Make your own judgement carefully.
We do not recommend engaging in such a purchase however honest the seller may be.

It's nice to see the recommendations from the dev team. I'm not looking to sell my Factom, I know in time I'll be able to go to the moon and back with my holdings  Cool
sr. member
Activity: 251
Merit: 250
Anyone want to buy my koinify factoms? Iv got 20000 but I need the money for some holiday spending money. Inbox me if interested (not a scam look at my rating on here)

Consider that to access the coins on Koinify you will need the secret passphrase. Which also will be needed to import your Koinify purchase into the Factom Wallet when it goes live.

If you buy from someone there will be two people knowing the passphrase. So a potential buyer will have to trust the seller. Make your own judgement carefully.
We do not recommend engaging in such a purchase however honest the seller may be.
legendary
Activity: 2898
Merit: 1017
Anyone want to buy my koinify factoms? Iv got 20000 but I need the money for some holiday spending money. Inbox me if interested (not a scam look at my rating on here)

Where do I send the monies ?   Roll Eyes   Come on dude, what rating ?
legendary
Activity: 1070
Merit: 1021
Anyone want to buy my koinify factoms? Iv got 20000 but I need the money for some holiday spending money. Inbox me if interested (not a scam look at my rating on here)
legendary
Activity: 924
Merit: 1000
Sooner or later the tokens will be on the market and then they are susceptible to pumping and dumping.  Not releasing a third-party token can't prevent it. 

Well, yeah, but the world's an imperfect place. From what I've seen, an ICO coin that goes straight to listing gets a pump right after it's listed because of the carryover excitement from the ICO itself. FACTOM"s policy avoids that. If there's gonna be a pump, it won't come because of evanescent excitement. It'd be nice to be part of a pump that - gasp - has something to do with the extant features or adoption of the product.

And to say they can be sold but not traded while the product is vapor is nonsensical.

Unless one sees the selling as a emergency hatch out if you need the Bitcoin in a hurry.
legendary
Activity: 1372
Merit: 1000
I suppose I'm trying to understand the reasons not to issue a third-party token.

Just need to be patient, if you have read our latest dev update it explains there when we expect the wallet to be ready.


I think it's because the Factom devs want to avoid the usual pump-and-dump games that go on around here, not to mention an ethical commitment about not letting it be traded while the product is still vapourware.

Sooner or later the tokens will be on the market and then they are susceptible to pumping and dumping.  Not releasing a third-party token can't prevent it.  And to say they can be sold but not traded while the product is vapor is nonsensical.
legendary
Activity: 2730
Merit: 7065
Cant wait for this to go live... Really excited about Factom!
hero member
Activity: 700
Merit: 500
★ IT's Party Time! ★
I suppose I'm trying to understand the reasons not to issue a third-party token.

Just need to be patient, if you have read our latest dev update it explains there when we expect the wallet to be ready.


I think it's because the Factom devs want to avoid the usual pump-and-dump games that go on around here, not to mention an ethical commitment about not letting it be traded while the product is still vapourware.

Lol. Are you newbie? This serious devs don't care about any P'n'Dumps. Factom project has a huge venture investments and financial background. Developers are generally not interested in knowing factoid price at the markets, it's not make any sense. Factoids are like air for living of all Factom system and will have high value anyway
legendary
Activity: 924
Merit: 1000
I suppose I'm trying to understand the reasons not to issue a third-party token.

Just need to be patient, if you have read our latest dev update it explains there when we expect the wallet to be ready.


I think it's because the Factom devs want to avoid the usual pump-and-dump games that go on around here, not to mention an ethical commitment about not letting it be traded while the product is still vapourware.
sr. member
Activity: 251
Merit: 250
I suppose I'm trying to understand the reasons not to issue a third-party token.

Just need to be patient, if you have read our latest dev update it explains there when we expect the wallet to be ready.

 
legendary
Activity: 1372
Merit: 1000
I suppose I'm trying to understand the reasons not to issue a third-party token.
sr. member
Activity: 251
Merit: 250
So Koinify is simply a non-transparent centralized service that does not use blockchain technology to record the "vouchers" it marks in its database in exchange for BTC?

Not sure what you mean by non-transparent though. It was a crowdfunding platform.

Transparency is when you record something on a blockchain so everyone can verify that you've done what you say you've done.  Non-transparency is when you record something in your own internal database and expect everyone to trust you.

For Factom everything was recorded on the blockchain using Op_return so I guess that fits your transparent definition.  Smiley

Koinify has recorded each investor's Factom balance on the BTC blockchain?  Can you show me an example?  I'm still puzzled as to why they didn't just issue Counterparty tokens.

Here is all the info you need: http://explorer.chain.com/addresses/35gLt5EgB367enjSjyEDahhWWcy6p1MGf6#!address-get

We didn't choose to do an XCP or Omni asset because there was no need. Factoids will have their own wallet.


Is a Factom balance visible at that address in the explorer?  I can't find it.

MaidSafe coins will have their own wallet too but they issued an Omni asset so investors could trade before the MaidSafe wallet and network are finalized.

What is the issue here? When the wallet is live people will be able to import their Factoids.
Not sure why you are claiming we should have chosen a third party token? And why you think people is so in a rush to trade them.
You are possibly one of the few that has had any concerns regarding that.

It's not our priority to have Factoids being tradable, remember they are a token that gives you access to our software.
That is the main purpose of Factoids, to allow people to hash entries on the blockchain.

That said we will make sure to have them available on as many exchanges as possible to make it easy for people to buy and sell.
Trading will happen for people that wishes to do so once we are ready with the wallet which is not too far away.
Factoids are not a pump and dump coin, things should grow organically, got to give it time.

There are other things we are working on but rest assured having a wallet is our first milestone and are working hard to make that happen.
legendary
Activity: 1372
Merit: 1000
So Koinify is simply a non-transparent centralized service that does not use blockchain technology to record the "vouchers" it marks in its database in exchange for BTC?

Not sure what you mean by non-transparent though. It was a crowdfunding platform.

Transparency is when you record something on a blockchain so everyone can verify that you've done what you say you've done.  Non-transparency is when you record something in your own internal database and expect everyone to trust you.

For Factom everything was recorded on the blockchain using Op_return so I guess that fits your transparent definition.  Smiley

Koinify has recorded each investor's Factom balance on the BTC blockchain?  Can you show me an example?  I'm still puzzled as to why they didn't just issue Counterparty tokens.

Here is all the info you need: http://explorer.chain.com/addresses/35gLt5EgB367enjSjyEDahhWWcy6p1MGf6#!address-get

We didn't choose to do an XCP or Omni asset because there was no need. Factoids will have their own wallet.


Is a Factom balance visible at that address in the explorer?  I can't find it.

MaidSafe coins will have their own wallet too but they issued an Omni asset so investors could trade before the MaidSafe wallet and network are finalized.
sr. member
Activity: 251
Merit: 250
So Koinify is simply a non-transparent centralized service that does not use blockchain technology to record the "vouchers" it marks in its database in exchange for BTC?

Not sure what you mean by non-transparent though. It was a crowdfunding platform.

Transparency is when you record something on a blockchain so everyone can verify that you've done what you say you've done.  Non-transparency is when you record something in your own internal database and expect everyone to trust you.

For Factom everything was recorded on the blockchain using Op_return so I guess that fits your transparent definition.  Smiley

Koinify has recorded each investor's Factom balance on the BTC blockchain?  Can you show me an example?  I'm still puzzled as to why they didn't just issue Counterparty tokens.

Here is all the info you need: http://explorer.chain.com/addresses/35gLt5EgB367enjSjyEDahhWWcy6p1MGf6#!address-get

We didn't choose to do an XCP or Omni asset because there was no need. Factoids will have their own wallet.
sr. member
Activity: 251
Merit: 250
Here is our latest Factom Core Developer Update:

http://blog.factom.org/post/121105395224/factom-core-developer-update-june-9th-2015

We have a myriad of channels and as mentioned before newsletter and blog + Twitter are the best places to follow us.

legendary
Activity: 1372
Merit: 1000
So Koinify is simply a non-transparent centralized service that does not use blockchain technology to record the "vouchers" it marks in its database in exchange for BTC?

Not sure what you mean by non-transparent though. It was a crowdfunding platform.

Transparency is when you record something on a blockchain so everyone can verify that you've done what you say you've done.  Non-transparency is when you record something in your own internal database and expect everyone to trust you.

For Factom everything was recorded on the blockchain using Op_return so I guess that fits your transparent definition.  Smiley

Koinify has recorded each investor's Factom balance on the BTC blockchain?  Can you show me an example?  I'm still puzzled as to why they didn't just issue Counterparty tokens.
hero member
Activity: 700
Merit: 500
★ IT's Party Time! ★
Can't wait until Factom is released to the public Smiley.

I think Factom would be a long term project...

where to check out the  News of updates of the project?


We release regular updates through our blog at http://blog.factom.org and our newsletter to which you can register at http://factom.org.
Also on Twitter at https://twitter.com/factomproject.

Thank you for the support.  Smiley

Finally 4 days past you just answered this question  Cheesy
Don't be lazy! All info is out there... Google it Smiley

I don't lazy it's not my question!!!
I see FACTOM user online everyday but it's 4 days past they just answered it!!

4 days - it's pretty quick response. You have to be grateful for this at least.
hero member
Activity: 596
Merit: 500
F*CK WHALES!
Can't wait until Factom is released to the public Smiley.

I think Factom would be a long term project...

where to check out the  News of updates of the project?


We release regular updates through our blog at http://blog.factom.org and our newsletter to which you can register at http://factom.org.
Also on Twitter at https://twitter.com/factomproject.

Thank you for the support.  Smiley

Finally 4 days past you just answered this question  Cheesy
Don't be lazy! All info is out there... Google it Smiley

I don't lazy it's not my question!!!
I see FACTOM user online everyday but it's 4 days past they just answered it!!
donator
Activity: 2352
Merit: 1060
between a rock and a block!
Can't wait until Factom is released to the public Smiley.

I think Factom would be a long term project...

where to check out the  News of updates of the project?


We release regular updates through our blog at http://blog.factom.org and our newsletter to which you can register at http://factom.org.
Also on Twitter at https://twitter.com/factomproject.

Thank you for the support.  Smiley

Finally 4 days past you just answered this question  Cheesy
Don't be lazy! All info is out there... Google it Smiley
legendary
Activity: 927
Merit: 1000
Can't wait until Factom is released to the public Smiley.

I think Factom would be a long term project...

where to check out the  News of updates of the project?


We release regular updates through our blog at http://blog.factom.org and our newsletter to which you can register at http://factom.org.
Also on Twitter at https://twitter.com/factomproject.

Thank you for the support.  Smiley

Finally 4 days past you just answered this question  Cheesy

I'd say they're pretty busy unloading the project on the general public. The practical applications behind this are far greater than most people see. Looking forward to what's in store! Cheers guys and great work.
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