If someone buys entry credits with dollars where are those burned factoids taken from?
How much dollars does it cost to buy storage? A factoid could not be considered to be worth more than the equivalent dollar value that it costs to buy entry tokens for factom blockchain storage right?
Topic: [ANN] FACTOM - Introducing Honesty to Record-Keeping - page 75. (Read 2115898 times)
Why do factoids have a value and what is a plausible value for a factoid?
In various circumstances I constantly see people calling the crypro currecy with the abreviation FCT for "Factom" when the correct name for the currency associated to the Factom project is Factoid.
Why do the cryptocurrency factoid have a value? It is possible to buy storeage space on the factom blockchan with it but I can also use dollars to do the same thing. The supply is not limited and the inflation in the future will be 73000 new factoids a month which is about 1% a month.
We all know that factom project is backed by Microsoft etc. But if I like to buy on factom blockchain storage I dont even need factoids. Factom project could very well be very suceessfull in the future, but that doesnt imply that the crypto currency factoid will have much higher value than it has right now.
What is your argument for that a factoid should have a much higher value in dollars than it has now. What is a fair value for a factoid according to you?
In various circumstances I constantly see people calling the crypro currecy with the abreviation FCT for "Factom" when the correct name for the currency associated to the Factom project is Factoid.
Why do the cryptocurrency factoid have a value? It is possible to buy storeage space on the factom blockchan with it but I can also use dollars to do the same thing. The supply is not limited and the inflation in the future will be 73000 new factoids a month which is about 1% a month.
We all know that factom project is backed by Microsoft etc. But if I like to buy on factom blockchain storage I dont even need factoids. Factom project could very well be very suceessfull in the future, but that doesnt imply that the crypto currency factoid will have much higher value than it has right now.
What is your argument for that a factoid should have a much higher value in dollars than it has now. What is a fair value for a factoid according to you?
Factoids can be converted to entry credits. If you buy entry credits directly from the store with dollars, Factom will do the conversion for you. Either way, if you store data on the Factom blockchain, Factoids will be burned.
An entry credit costs 0.1 cent and for the same value a Factoid will be burned. Would one Factoid be $ 1.00, 1000 entry credits would burn one whole Factoid.
So there will be inflation, but Factoids will also be burned. You could base the future value of one Factoid by your estimated usage. Let's say one billion entry credits would be used in one month:
1 billion x 0.1 cent = $ 1 million = value of Factoids being burned
To neither have inflation or deflation, the value of one Factoid should be
$ 1 million / 73,000 = $ 13,70
So the question is more what usage of entry credits you would be expecting, and calculate your own fair value of one Factiod
Why do factoids have a value and what is a plausible value for a factoid?
In various circumstances I constantly see people calling the crypro currecy with the abreviation FCT for "Factom" when the correct name for the currency associated to the Factom project is Factoid.
Why do the cryptocurrency factoid have a value? It is possible to buy storeage space on the factom blockchan with it but I can also use dollars to do the same thing. The supply is not limited and the inflation in the future will be 73000 new factoids a month which is about 1% a month.
We all know that factom project is backed by Microsoft etc. But if I like to buy on factom blockchain storage I dont even need factoids. Factom project could very well be very suceessfull in the future, but that doesnt imply that the crypto currency factoid will have much higher value than it has right now.
What is your argument for that a factoid should have a much higher value in dollars than it has now. What is a fair value for a factoid according to you?
In various circumstances I constantly see people calling the crypro currecy with the abreviation FCT for "Factom" when the correct name for the currency associated to the Factom project is Factoid.
Why do the cryptocurrency factoid have a value? It is possible to buy storeage space on the factom blockchan with it but I can also use dollars to do the same thing. The supply is not limited and the inflation in the future will be 73000 new factoids a month which is about 1% a month.
We all know that factom project is backed by Microsoft etc. But if I like to buy on factom blockchain storage I dont even need factoids. Factom project could very well be very suceessfull in the future, but that doesnt imply that the crypto currency factoid will have much higher value than it has right now.
What is your argument for that a factoid should have a much higher value in dollars than it has now. What is a fair value for a factoid according to you?
Last chances to get in 
Guys! Where do you store your factoids? I use their Enterprise Wallet but it never syncs up to 100% and doesn't represent the ballance correctly - it shows "0" whilst Factom Explorer shows that I do have some factoids on my adress. wtf?
FCT loosing their investors ..
Can we see why FCT loosing their price and getting down..
Really slow slow coin
So move to some faster coin. You trolling this thread s not going to speed it up for sure. I ll keep my coins and wait for the price I want to see. Real investors re incredibility patient.
BTW, Factom s not losing investors, it can lose speculators who want to see 30% per day and love pumps and dumps. Not my type of people.
Guys! Where do you store your factoids? I use their Enterprise Wallet but it never syncs up to 100% and doesn't represent the ballance correctly - it shows "0" whilst Factom Explorer shows that I do have some factoids on my adress. wtf?
Exodus wallet. In less then 2 weeks, they ll add Factom. We all eagerly wait for that.
Yeah yeah. I know that. But what about now? Whant to buy some before that happens. Is Enterprise Wallet usable at all? Or what other options is there at the moment?
Guys! Where do you store your factoids? I use their Enterprise Wallet but it never syncs up to 100% and doesn't represent the ballance correctly - it shows "0" whilst Factom Explorer shows that I do have some factoids on my adress. wtf?
FCT loosing their investors ..
Can we see why FCT loosing their price and getting down..
Really slow slow coin
Guys! Where do you store your factoids? I use their Enterprise Wallet but it never syncs up to 100% and doesn't represent the ballance correctly - it shows "0" whilst Factom Explorer shows that I do have some factoids on my adress. wtf?
Exodus wallet. In less then 2 weeks, they ll add Factom. We all eagerly wait for that.
Guys! Where do you store your factoids? I use their Enterprise Wallet but it never syncs up to 100% and doesn't represent the ballance correctly - it shows "0" whilst Factom Explorer shows that I do have some factoids on my adress. wtf?
Quote
Posted: March 2, 2017 By Tiana Laurence
My was at 17.03.17 but now it is deleted. LOL. Someone released it before the time. Is it a good sign?
does anybody have the link to that excell sheet that shows the effect fct to ec conversion has on the price? ty
It s also about time we get decent wallet. Factom s not a new token, it s been around for quite some time.
That wallet is looking mighty fine!
Got it, thanks, but i don't think it will effect price too much.
some have theorized that price manipulation is occurring because of the INSANE amount of factoids are being loaned out which helps shorters etc...
the amount sitting on Polo is STAGGERING compared to the total supply. many theorize that this is causing manipulations which would not occur if balances were not on polo
Exactly, people need a decent wallet. What Exodus has produced s perfect. Fast, east to use and quite safe. There will be no more cheap Factom for margin trade on Polo anymore.
afaik Exodus is also a 3rd party wallet..so any particular reason that it is safer than any exchange out there?
You have the private keys, not an exchange! That is a huge difference.
And: It's not needed to store Factoids with Exodus. Mine are on cold storage, generated with Papermill
on an offline-machine. But exodus makes it very easy to import and transact in less than a minute.
Made a screenshot some time ago (I'm one of the testers):
lets say if somehow oneday Exodus stop the service...where should my "private keys" to use at to recover my coins that storing there?or is this "private keys" is exactly the same private keys that we can use to import to client wallet?
Of course man, it's a wallet provider what do you expect? Of course you need to trust any wallet provider with your sensitive information (most of course maintain that the information never leaves your machine or web browser). They are very honest and hardworking people, you have their online profiles, photos and you can even call them on the phone if you need support!
They are also funded by VC so I wouldn't worry about any dishonesty here.
Got it, thanks, but i don't think it will effect price too much.
some have theorized that price manipulation is occurring because of the INSANE amount of factoids are being loaned out which helps shorters etc...
the amount sitting on Polo is STAGGERING compared to the total supply. many theorize that this is causing manipulations which would not occur if balances were not on polo
Exactly, people need a decent wallet. What Exodus has produced s perfect. Fast, east to use and quite safe. There will be no more cheap Factom for margin trade on Polo anymore.
afaik Exodus is also a 3rd party wallet..so any particular reason that it is safer than any exchange out there?
You have the private keys, not an exchange! That is a huge difference.
And: It's not needed to store Factoids with Exodus. Mine are on cold storage, generated with Papermill
on an offline-machine. But exodus makes it very easy to import and transact in less than a minute.
Made a screenshot some time ago (I'm one of the testers):
lets say if somehow oneday Exodus stop the service...where should my "private keys" to use at to recover my coins that storing there?or is this "private keys" is exactly the same private keys that we can use to import to client wallet?
The link to the article on Factom and ShapeShift.io's partnership isn't working 
Does anybody have an updated link, or can they summarise it for me? Thanks
Does anybody have an updated link, or can they summarise it for me? Thanks
Got it, thanks, but i don't think it will effect price too much.
some have theorized that price manipulation is occurring because of the INSANE amount of factoids are being loaned out which helps shorters etc...
the amount sitting on Polo is STAGGERING compared to the total supply. many theorize that this is causing manipulations which would not occur if balances were not on polo
Exactly, people need a decent wallet. What Exodus has produced s perfect. Fast, east to use and quite safe. There will be no more cheap Factom for margin trade on Polo anymore.
afaik Exodus is also a 3rd party wallet..so any particular reason that it is safer than any exchange out there?
You have the private keys, not an exchange! That is a huge difference.
And: It's not needed to store Factoids with Exodus. Mine are on cold storage, generated with Papermill
on an offline-machine. But exodus makes it very easy to import and transact in less than a minute.
Made a screenshot some time ago (I'm one of the testers):
Got it, thanks, but i don't think it will effect price too much.
some have theorized that price manipulation is occurring because of the INSANE amount of factoids are being loaned out which helps shorters etc...
the amount sitting on Polo is STAGGERING compared to the total supply. many theorize that this is causing manipulations which would not occur if balances were not on polo
Exactly, people need a decent wallet. What Exodus has produced s perfect. Fast, east to use and quite safe. There will be no more cheap Factom for margin trade on Polo anymore.
afaik Exodus is also a 3rd party wallet..so any particular reason that it is safer than any exchange out there?
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