Re: [ANN] FACTOM – Introducing Honesty to Record-Keeping
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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.
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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.
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Activity: 106
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
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.
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