Author Topic: What is Factom?  (Read 799 times)

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Offline Ander

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What is Factom?
« on: October 05, 2015, 09:48:14 pm »
This got added to polo and people are talking about it.  Apparently it had a huge IPO. 
Anyone know about it?
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Offline Pheonike

Re: What is Factom?
« Reply #1 on: October 05, 2015, 09:55:35 pm »
It tanked 60%.

Offline Ander

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Re: What is Factom?
« Reply #2 on: October 05, 2015, 10:01:44 pm »
It tanked 60%.

No it actually didnt.  It started trading today and the first trade was at some super high price.  It traded a while near .0007, and then went up over 100%.  Its currently up about 50%.

People put in that high price first order to manipulate you.
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Offline fav

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Re: What is Factom?
« Reply #3 on: October 05, 2015, 10:07:05 pm »
iPO coins are 100% scam and just exist to make the so-called "devs" rich. nowadays
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Offline Ander

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Re: What is Factom?
« Reply #4 on: October 05, 2015, 10:08:57 pm »
iPO coins are 100% scam and just exist to make the so-called "devs" rich. nowadays

Isnt that what people say about bts?
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TravelsAsia

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Re: What is Factom?
« Reply #5 on: December 21, 2015, 06:00:16 pm »
iPO coins are 100% scam and just exist to make the so-called "devs" rich. nowadays

https://azure.microsoft.com/en-us/blog/azure-baas-update-2/

"Factom: Simplify records management, record business processes, and address security and compliance issues. The following are in the pipeline:

    Deploy a factomd service exposing the Factom APIs - Q1 2016
    Bitcoin data service of prices from different exchanges recorded on Factom's Blockchain - Q1 2016"

https://letstalkbitcoin.com/blog/post/the-crypto-show-paul-snow-of-factom-and-eijah-of-demonsaw-and-gta5?utm_source=dlvr.it&utm_medium=twitter


« Last Edit: December 21, 2015, 06:07:56 pm by TravelsAsia »

Offline gamey

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Re: What is Factom?
« Reply #6 on: December 21, 2015, 06:43:59 pm »

Great to see Fav chime in with something he knows nothing about.

Factom is a legitimate project. Their office hosts public parties etc. The developers are real and known people. I can't speak to their distribution, much like any crypto project, but they are trying to create value. Pretty much the same level of transparency etc as BitShares.

What is Factom?
There are Factoms and some other credit you use to store hashes on a blockchain.  They have their own federated server system / blockchain but it periodically puts hashes on the Bitcoin blockchain. So they get the best of both worlds with all the added complexity. IE they are part of the Bitcoin world and dependent on it (well, Bitcoin is not necessary) along with having their own chain/invention. The stored Bitcoin hashes make it quite easy to verify timeframes in a very public manner. So this can be used for proving all manner of legal document existed at X time. Their storage is ultimately quite cheap given their own blockchain, but the data is also secured by Bitcoin... It really depends on the end-user software.
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TravelsAsia

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Re: What is Factom?
« Reply #7 on: December 21, 2015, 06:46:52 pm »

Great to see Fav chime in with something he knows nothing about.

Factom is a legitimate project. Their office hosts public parties etc. The developers are real and known people. I can't speak to their distribution, much like any crypto project, but they are trying to create value. Pretty much the same level of transparency etc as BitShares.

What is Factom?
There are Factoms and some other credit you use to store hashes on a blockchain.  They have their own federated server system / blockchain but it periodically puts hashes on the Bitcoin blockchain. So they get the best of both worlds with all the added complexity. IE they are part of the Bitcoin world and dependent on it (well, Bitcoin is not necessary) along with having their own chain/invention. The stored Bitcoin hashes make it quite easy to verify timeframes in a very public manner. So this can be used for proving all manner of legal document existed at X time. Their storage is ultimately quite cheap given their own blockchain, but the data is also secured by Bitcoin... It really depends on the end-user software.

 +5%  +5%  +5%

I like what you said about best of both worlds.