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Topic: Factoid - The Software Token For The Factom Network - page 4. (Read 11822 times)

legendary
Activity: 1414
Merit: 1000
S I have a few questions.  How many factoids will there be at the end of the sale?  What will the cost be for users of this service and who will set the cost?  What are possible market caps for a service like this?

There is no limit, they will sell as many as people buy. To make matters worse they will create new factoms after the ico to meet demand. I don't know what I'm missing here, but this looks like an extremely high risk buy.
sr. member
Activity: 481
Merit: 251
S I have a few questions.  How many factoids will there be at the end of the sale?  What will the cost be for users of this service and who will set the cost?  What are possible market caps for a service like this?
sr. member
Activity: 364
Merit: 250
The sale passes the 12 hours mark with 320 BTC under its belt. Thanks for all the support so far for those who are participating.
legendary
Activity: 1414
Merit: 1000
How are we going to be able to trade factoms - will they be on crypto exchanges?
member
Activity: 114
Merit: 10
On the topic of the different Factoid pools, its fair to reward those that add their efforts to building a project, not just money contributed but also the time and energy of the team that makes it possible.

The important differences between Factom's token pools and those that have come before is:

#1. The bitcoin that is contributed during the software sale is locked by third party evaluators until milestones are reached. Meaning if the Factom Foundation doesn't deliver the code described in the milestones it doesn't get a dime.

#2. The Factoids rewarded in the genesis block are not the only ones that will ever exist. Most of the Factoids over time go to the parties that are ultimately creating the most value, that is the federated servers doing the auditing.

So if you look at the Future Issuance bar graphs on this page: https://koinify.com/#/project/FACTOM

After only 5 years the Federated Servers have been rewarded as many Factoids as the main software sale pool.

After 10 years the Federated Servers have been rewarded as many Factoids as all the other pools combined.

Meaning regardless of if the balance the team decided on was right or not, when it comes to the pools and who it is rewarding, the effect will drop over time to almost nothing on a long time scale compared to the main reward of the Factoids to the Federated servers auditing.

This is very similar to the Ethereum model of issuing a fixed number of Factoid rewards (as a percentage of the software sale total Factoids) every year to the Federated Servers.

sr. member
Activity: 251
Merit: 250

Referral Rewards
Want Factoids? Factom is sending out rewards to the community, get 5% of all your Factoid referrals for the Factoid Software Sale.
Note - There is a 5% factoid reward on all referrals!

More info on our Blog
newbie
Activity: 5
Merit: 0
Crowd Sale is now active!
sr. member
Activity: 364
Merit: 250
Sale is currently at 238 BTC!
full member
Activity: 152
Merit: 100


They are helping us in different parts of the world. The world is big Wink
[/quote]

What justifies the devs getting 30% of the coin in addition to the IPO?
[/quote]
idk scam same as ripple
but send btc because of hype like i sent.
[/quote]

Uh. NO Ripple didn't even accept BTC and they also didn't have a token sale.

Factom actually has code! It's not hype so don't know where you got the idea from.
hero member
Activity: 540
Merit: 500
Also how many community leaders and advisors do you need? Look at this http://factom.org/team

They are helping us in different parts of the world. The world is big Wink

What justifies the devs getting 30% of the coin in addition to the IPO?
sr. member
Activity: 357
Merit: 251
Pm'd and emailed you Wink
sr. member
Activity: 251
Merit: 250
Also how many community leaders and advisors do you need? Look at this http://factom.org/team

They are helping us in different parts of the world. The world is big Wink
legendary
Activity: 1568
Merit: 1000
Twitter @Acimirov
No mining phase ? No fun!  Sad
full member
Activity: 183
Merit: 100
The Factom Software Sale can be found here:

https://koinify.com/#/project/FACTOM
hero member
Activity: 540
Merit: 500
Also how many community leaders and advisors do you need? Look at this http://factom.org/team
hero member
Activity: 540
Merit: 500
So the devs get 30% of the coin and obviously the whole IPO. Stupid.
sr. member
Activity: 251
Merit: 250
We are pleased to announce a collaboration between ShapeShift + Factom.
 
Read the details on our blog.


member
Activity: 114
Merit: 10
On the question of the asset allocation strategy this was developed after looking at past events where value came into the software sale, but because of a swing in the price the project ended up with less buying power than they originally collected.

In order to avoid this issue with the Factoid Software Sale it was clear that the value collected should be hedged and diversified. This is part of why we engaged experts in this field and built a lot of options for when it comes to preserving the value contributed to the Factom Foundation.

sr. member
Activity: 364
Merit: 250


The Factom Software Sale is now currently running LIVE on Koinify.

https://koinify.com/#/project/FACTOM
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