[ANN] FACTOM - Introducing Honesty to Record-Keeping - page 73.

Jack Russell

newbie

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Quote from: scamalert0 on March 21, 2017, 04:38:29 AM

So much slow ...
Should I hold or sell FCT now??

Code:

Factom you got to let me know
Should I hold or should I go?
If you say that you are mine
I'll be here 'til the end of time
So you got to let me know
Should I hold or should I go

--The Clash ...adapted a bit

Sorry couldn't resist.

olarsson

full member

Activity: 208

Merit: 100

Quote

That's pretty amazing, quite an active usage already.

Yes now you only have to explain how the success in user increase will affect FCT price so that it goes to astronomical Alpha Centauri levels.

It is not so that if a chewing gum company is successfull each chewinggum will cost $1000.

scamalert0

sr. member

Activity: 498

Merit: 250

Quote from: crazyivan on March 20, 2017, 04:06:06 PM

Quote from: olarsson on March 20, 2017, 03:53:59 PM

If factoid price will be high you will get many EC for a FCT and the demand will drop. Factom has many clients but I dubt that more than a few use factoids.

You obviously have no idea about potential of this coin when data storing is in question. We potentially talk about BILLIONS of entries per day. Let me remind you Factom s recorded just over 7 million entires over the last year or so of the testing phase.

Again, compare that to billions of data entries per day. Do you have any idea how big is global mortgage market? How big is the need for storing of other financial data? Medical records? Etc, etc.

All in all, move on, go back to whatever coin you seem appropriate for you and I wish you good luck from the bottom of my heart.

So much slow ...
Should I hold or sell FCT now??

laugh2btc

hero member

Activity: 531

Merit: 500

Quote from: D-Lux on March 21, 2017, 03:11:02 AM

Quote from: crazyivan on March 20, 2017, 05:59:51 AM

Quote from: olarsson on March 20, 2017, 05:26:08 AM

If I belive in Factom why should I not buy Factom stocks instead of factoids?

So go buy stocks, what s the problem there?

I really do not understand troll mentality here. If you do not like some coin/token/service and you like some other coin/token/service, why you waste time and energy on the thread of coind/token/service you dislike? Sell you stuff and move to that side where you feel comfortable, right?

There s big difference between stock and token, in terms of potential reward but also in terms of actual investment.

Most of people here come and cry how come Factom has not duplicated Dash price rise. Let me go back to these people and ask them, why didnt u buy Dash or Ether or Zcash or whatever when it was $1? Exactly due to the same reason you do not buy Factom now, u probably spent time on their forums saying how those coins re shit. That kind of mentality makes you start appreciating something once it has skyrocked in price. At that point, it s too late, my friends.

You need to seize the opportunity BEFORE it has started to grow and expand. That s the whole point of investing.

+1. Nicely said, crazyivan.

olarsson just asked why not buy factom stocks at bttf instead of factoids. That´s not trolling in my opinion. Or do i understand it wrong?

D-Lux

sr. member

Activity: 385

Merit: 250

Quote from: crazyivan on March 20, 2017, 05:59:51 AM

Quote from: olarsson on March 20, 2017, 05:26:08 AM

If I belive in Factom why should I not buy Factom stocks instead of factoids?

So go buy stocks, what s the problem there?

I really do not understand troll mentality here. If you do not like some coin/token/service and you like some other coin/token/service, why you waste time and energy on the thread of coind/token/service you dislike? Sell you stuff and move to that side where you feel comfortable, right?

There s big difference between stock and token, in terms of potential reward but also in terms of actual investment.

Most of people here come and cry how come Factom has not duplicated Dash price rise. Let me go back to these people and ask them, why didnt u buy Dash or Ether or Zcash or whatever when it was $1? Exactly due to the same reason you do not buy Factom now, u probably spent time on their forums saying how those coins re shit. That kind of mentality makes you start appreciating something once it has skyrocked in price. At that point, it s too late, my friends.

You need to seize the opportunity BEFORE it has started to grow and expand. That s the whole point of investing.

+1. Nicely said, crazyivan.

poptop

legendary

Activity: 1512

Merit: 1246

Quote from: crazyivan on March 20, 2017, 04:06:06 PM

Again, compare that to billions of data entries per day. Do you have any idea how big is global mortgage market? How big is the need for storing of other financial data? Medical records? Etc, etc.

++
OR stock exchanges http://thedashtimes.com/2016/08/11/datayes-and-factom-collobrate/
Or smart cities in China.
Or big data.

crazyivan

legendary

Activity: 1652

Merit: 1007

DMD Diamond Making Money 4+ years! Join us!

Quote from: olarsson on March 20, 2017, 03:53:59 PM

If factoid price will be high you will get many EC for a FCT and the demand will drop. Factom has many clients but I dubt that more than a few use factoids.

You obviously have no idea about potential of this coin when data storing is in question. We potentially talk about BILLIONS of entries per day. Let me remind you Factom s recorded just over 7 million entires over the last year or so of the testing phase.

Again, compare that to billions of data entries per day. Do you have any idea how big is global mortgage market? How big is the need for storing of other financial data? Medical records? Etc, etc.

All in all, move on, go back to whatever coin you seem appropriate for you and I wish you good luck from the bottom of my heart.

poptop

legendary

Activity: 1512

Merit: 1246

Quote from: olarsson on March 20, 2017, 03:53:59 PM

If factoid price will be high you will get many EC for a FCT and the demand will drop.

Why? ECs are needed constantly and it's single-time. Factom gives their customers software which works on ECs. If simplistic factom gives you your own database and you can add into it your information only if you have ECs.

olarsson

full member

Activity: 208

Merit: 100

If factoid price will be high you will get many EC for a FCT and the demand will drop. Factom has many clients but I dubt that more than a few use factoids.

poptop

legendary

Activity: 1512

Merit: 1246

Quote from: olarsson on March 20, 2017, 03:24:16 PM

Quote

1 EC = 0.1$

You are wrong. This is right:

1 EC = 0.1 cent = 0.0001$

You're right, but the meaning is the same.

Factom has many clients today. Their demand is very big. Only one possible thing for providing their demand that is high price of factoids to provide lots of ECs.

olarsson

full member

Activity: 208

Merit: 100

Quote

1 EC = 0.1$

You are wrong. This is right:

1 EC = 0.1 cent = 0.0001$

olarsson

full member

Activity: 208

Merit: 100

If demand is high price of FCT in dollars will go up then I will get much EC for each FCT which will lower the demand.

If demand is low price of FCT in dollars will o down and I will get little EC for each FCT which will make demand higher.

I can not see any possibility of FCT skyrocketing to Alpha Centauri, do you?

poptop

legendary

Activity: 1512

Merit: 1246

Quote from: olarsson on March 20, 2017, 03:01:57 PM

A very imporant question that has not been answered yet; How many EC will I get for a FCT?

1 EC = 0.1$

If you bought 1 factoid for 3$ you get 3/0.1 = 30 ECs.
If you bought 1 factoid for 4$ you get 4/0.1 = 40 ECs.
If you bought 1 factoid for 200$ you get 200/0.1 = 2000 ECs.

If you need 30 ECs, you just buy some factoids on 3$.

olarsson

full member

Activity: 208

Merit: 100

A very imporant question that has not been answered yet; How many EC will I get for a FCT?

olarsson

full member

Activity: 208

Merit: 100

Quote

Still 0.1 cent of Factoids are burned per entry credit, some companies just overpay to avoid the hassle.

Have you ever heard of a "cent" of a Factoid? It is cent of a dollar. 1 dollar will give you 1000 entry credits.

Entry credit price is unrelated to Factoid market price!

etoque

legendary

Activity: 1988

Merit: 1000

factom is cool,but its one of the ugliest book on polo Sad

what the incentive buying FCT ?

muleroaa

hero member

Activity: 924

Merit: 526

GIF by SOCIFI

Quote from: CocoLibre on March 20, 2017, 10:35:20 AM

Factom broke 100 million records today, a small initial milestone for the system as most of this activity is POC testing and not full commercialization. Should get very interesting once we start to see some of the larger MOUs(Ancun/Smartrac) turn on later in the year.

FACTOM LIVE USAGE

The Factom Foundation's protocol is already in use, and it's growing every day.

100,002,181 Records 7,226,028 Entries 80,816 Anchors

That's pretty amazing, quite an active usage already.

CocoLibre

full member

Activity: 129

Merit: 100

Factom broke 100 million records today, a small initial milestone for the system as most of this activity is POC testing and not full commercialization. Should get very interesting once we start to see some of the larger MOUs(Ancun/Smartrac) turn on later in the year.

FACTOM LIVE USAGE

The Factom Foundation's protocol is already in use, and it's growing every day.

100,002,181 Records 7,226,028 Entries 80,816 Anchors

Less338

newbie

Activity: 24

Merit: 0

Quote from: olarsson on March 20, 2017, 09:53:02 AM

Quote from: mtnsaa on March 20, 2017, 09:04:30 AM

Quote from: olarsson on March 20, 2017, 06:47:26 AM

Quote from: crazyivan on March 20, 2017, 05:59:51 AM

Quote from: olarsson on March 20, 2017, 05:26:08 AM

If I belive in Factom why should I not buy Factom stocks instead of factoids?

So go buy stocks, what s the problem there?

I really do not understand troll mentality here. If you do not like some coin/token/service and you like some other coin/token/service, why you waste time and energy on the thread of coind/token/service you dislike? Sell you stuff and move to that side where you feel comfortable, right?

There s big difference between stock and token, in terms of potential reward but also in terms of actual investment.

Most of people here come and cry how come Factom has not duplicated Dash price rise. Let me go back to these people and ask them, why didnt u buy Dash or Ether or Zcash or whatever when it was $1? Exactly due to the same reason you do not buy Factom now, u probably spent time on their forums saying how those coins re shit. That kind of mentality makes you start appreciating something once it has skyrocked in price. At that point, it s too late, my friends.

You need to seize the opportunity BEFORE it has started to grow and expand. That s the whole point of investing.

I try to understand why I should buy FCT and I have not got any good answer yet. As I understand it factoids are totally superficial and the Factom project could very well get rid of them without impairing any functionality.

Please consider answering my question:

How many Factom Entry Credids (EC) will you get for one Factoid (FCT) and how is that related to the FCT price?

The answer will be very surprising to you I think.

It's not that hard to understand man, Entry Credits are pulled straight from Factoids AFAIK, they are not created from thin air. If there's enough demand for them this will burn a lot of the supply. So it depends on how succesful Factom will be, and the same applies with buying company shares. If there's not enough clients or interest both Factom price and company shares will plummet.

No one has addressed the fact that the price of FCT can be manipulated by Factom changing the ratio of FCT to EC. And they can control the desirability of purchasing FCT by altering the price of EC at their shop.

Because the conversion rate can not be changed just like that. The conversion rate is 0.1 cent per entry credit. Only time when this could change is during the transition to Milestone 3. And then not even Factom gets to choose the conversion rate, but the people who will run the servers do.
The price of an entry credit can be higher in the shop, because Factom will do the conversion for you. Still 0.1 cent of Factoids are burned per entry credit, some companies just overpay to avoid the hassle.

Don't state facts when you don't know shit.

olarsson

full member

Activity: 208

Merit: 100

Quote from: mtnsaa on March 20, 2017, 09:04:30 AM

Quote from: olarsson on March 20, 2017, 06:47:26 AM

Quote from: crazyivan on March 20, 2017, 05:59:51 AM

Quote from: olarsson on March 20, 2017, 05:26:08 AM

If I belive in Factom why should I not buy Factom stocks instead of factoids?

So go buy stocks, what s the problem there?

I really do not understand troll mentality here. If you do not like some coin/token/service and you like some other coin/token/service, why you waste time and energy on the thread of coind/token/service you dislike? Sell you stuff and move to that side where you feel comfortable, right?

There s big difference between stock and token, in terms of potential reward but also in terms of actual investment.

Most of people here come and cry how come Factom has not duplicated Dash price rise. Let me go back to these people and ask them, why didnt u buy Dash or Ether or Zcash or whatever when it was $1? Exactly due to the same reason you do not buy Factom now, u probably spent time on their forums saying how those coins re shit. That kind of mentality makes you start appreciating something once it has skyrocked in price. At that point, it s too late, my friends.

You need to seize the opportunity BEFORE it has started to grow and expand. That s the whole point of investing.

I try to understand why I should buy FCT and I have not got any good answer yet. As I understand it factoids are totally superficial and the Factom project could very well get rid of them without impairing any functionality.

Please consider answering my question:

How many Factom Entry Credids (EC) will you get for one Factoid (FCT) and how is that related to the FCT price?

The answer will be very surprising to you I think.

It's not that hard to understand man, Entry Credits are pulled straight from Factoids AFAIK, they are not created from thin air. If there's enough demand for them this will burn a lot of the supply. So it depends on how succesful Factom will be, and the same applies with buying company shares. If there's not enough clients or interest both Factom price and company shares will plummet.

No one has addressed the fact that the price of FCT can be manipulated by Factom changing the ratio of FCT to EC. And they can control the desirability of purchasing FCT by altering the price of EC at their shop.

Topic: [ANN] FACTOM - Introducing Honesty to Record-Keeping - page 73. (Read 2115898 times)