What are /r/factom's favorite Products & Services?

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Great question. I think the belief is that once one major institution/government starts using Factom, and it's a value proposition they can advertise, and people become more aware that this is even a possibility, then others will be pressured to follow suit. Basically—assuming Factom works as advertised—there's no good argument for not using it. The first Domino's the hardest, but after that, using Factom could snowball (to mix the metaphor ...).

Paul Snow writes about this here:

> Q: The epigraph to Factom’s white paper is “Honesty is subversive.” Where did this come from, and why was this chosen as the epigraph?

> Snow: This is a play on a personal political view that I call “Escalation of Righteousness.” This is the observation that some ideas simply cannot be opposed without making you look bad ... “Honesty is Subversive” is based on the idea that creating accountability through immutable ledgers will be impossible to oppose (without looking bad), and holds vast potential for reform without requiring regulation or revolt.

1. Here is the Factom blog. https://www.factom.com/blog here is the DASH blog: https://www.dash.org/blog/ If it wasn't for a few of us in the community, I don't think that many people in the cryptosphere would even have Factom in their crosshairs. Factom does an excellent job communicating with the industries they are targeting (they are all over Mortgage industry publications and conferences). But they don't do much to actively communicate with us investors and traders of FCT. Paul Snow and Brian Deery are amazing about answering questions when we ask, but there's not much proactive communication. I'm not saying this is necessarily a bad thing for us longer term investors who tend to understand why. But for the impatient, it can be frustrating. And it certainly doesn't do anything to get the Factom name and brand out there into the cryptosphere.

2. FCT is manipulated. Notice the big spike to the ATH? Want to know the primary force that stopped that run? Someone DDOSed the network (this has since been patched). Prior to that I was watching short interest on Poloniex and massive shorts were being taken out and not covering as we went higher. Next thing I know the network goes down just as we're ramping. Coincidence? I think not. One also has to wonder why Factom was one of the very few coins to be added to Poloniex margin trading at its' initial listing.

I'm in Factom for the long term as I believe in what they're doing and see the potential. Despite that, it stings at times to see Factom languish in comparison to other coins that have less or even zero potential. And with competitors that are about to come into the space that I suspect WILL be marketing heavily to the cryptosphere, I have some concerns about them gaining traction they otherwise would not and should not.

The best way to keep up to date is probably the steemit

This might not answer your questions, but here is why i'm buying factom :

• the protocol needs the token

• hyperledger has a good chance of becoming THE collection of blockchain standards in ??? years

• factom at least has A chance to be implemented on hyperledger

This could lead to the factom protocol being one of the recognized good ones to use in ??? years.

What i do when im considering any altcoin is navigate to coinmarketcap.com.

Here's factom: https://coinmarketcap.com/currencies/factom/

I check out the chart then i click the markets tab to see which markets they're trading on and the 24hr volume for each. Then i click on their website, announcement, and community links. I'll also search for slack channels and subreddits.

I'm looking for solid and/or exciting concepts, strong teams, credibility in the burgeoning industry, solid substantive chatter/community on various forums, a roadmap that makes sense and some key checkpoints already reached, undervalued price (always a subjective opinion but some projects have barely budged from their ico price and will end up yuuuuge).

As i explore the space doing this for project after project, i feel I'm getting a better grasp on where we are as an industry, a community, and a movement. Getting a feel for who's real, and what's really on the cusp vs whats still (possibly) years down the road.

It's a fascinating journey, much like this tangent i hope lol. Factom seems like one of the strongest projects in crypto. Good luck!

The Factoid-price reacts very sensitive on the Bitcoin-price. And: It's already a nice rise since June. Many are very good in the profit zone and therefore quick with pressing the sell-button. But it's healthy and there are a lot of signs that M2 will be released in the next weeks and https://www.exodus.io will add Factoids soon after M2 or even contemporaneous. Plus: They were always good in surprising us with new partnerships. What I want to say with that: It's just a question of time, and I'm not speaking of months, that the market will have something to react on in a positive way - maybe even with some hype, because Factom gets more and more attention. I personally feel safer with holding Factoids than with holding Bitcoin.

If you ever need to know where a coin is sold, go to coinmarketcap.com, click on the coin, then click on the 'markets' tab. It will show you where it is being traded:

https://coinmarketcap.com/currencies/factom/#markets

the chart also indicates a 2 month down trend line was broken on increasing volume. a positive sign for price movement :) im guessing other Techinical analysts will pick up on it too :)

https://www.coinigy.com/s/i/5997038d58806/

rising volume indicated in orange, and the breakout in blue.

Following M3, Factom will have 32 Federated Servers and 32 Audit Servers. That number will remain constant AFAIK.

> If Factom simply needs enough to be decentralized then it would cause nearly no upward pressure on the price when customers are onboarded.

It's not exactly the onboard of customers that will cause FCT price appreciation, but usage of the protocol. The more the protocol is used, the higher the base price needs to be to prevent deflation of the FCT supply. In this sense, one customer using 1m EC per day is equivalent to 1m customers using 1 EC per day.

The equation is:

FCT's price = usage * market multiple

With "market multiple" being a measure of the perceived growth potential of Factom.

For the second part of your post ... I believe FCT may actually be the exact opposite of an index fund. Consider:

—As with any other crypto project, the FCT price depends fundamentally on usage

—Once sharding is complete, Factom will be able to scale virtually without limit

—The amount of data in the world is growing massively

—Awareness around the problems associated with faulty and inaccessible data is growing

As Paul Snow said here:

> I believe Factom (or something like it) will provide a data layer to scale that allows layers and frameworks to be developed that will coordinate nearly all computer and human interactions. Such a data layer will vastly improve security. It will also (oddly enough) vastly increase privacy. Much of the “shrinkage” in business processes (where one would expect higher levels of productivity and lower error or fault rates) are due to an inability to audit processes.

> A data layer such as Factom will allow for inexpensive, automated audits of processes to ensure they are measured in near real time.

> You cannot manage what you cannot measure.

I just checked my FCT folder and I have 53 docs or folders (the folders containing however many other docs/folders) on Factom. I could dump the notes online, but I'm not sure how much sense they'd actually make, and they also include some personal correspondences ...

Though in the past I've shared pretty much all my personal conclusions (plus try to include how I arrived at them) in this subreddit and on Slack (and here).

Not quite an elevator pitch but I saw this Q&A a while ago: https://www.cryptocompare.com/coins/guides/factom-past-present-and-future/

Q: Factom’s Chief Scientist, Brian Deery, has said that it takes about as long to wrap one’s head around Factom as it does Bitcoin. Why do you think this is the case? The details of the tech aside, do you think there are general conceptual hurdles that prevent a quick understanding of what Factom is aiming for?

General conceptual hurdles do exist to understanding Bitcoin as well as Factom. The first of which is the idea of a distributed ledger that everyone can have a copy of, and to be assured that their copy is exactly the same as every other copy. This is a simple thing, but somehow nothing about how computer systems and businesses have operated in the past prepares us for what this is and what it means.

For example, we all understand the scene in It’s a Wonderful Life where the bank examiner shows up to go over the books at Bailey Building and Loan. He has to come to the bank because he doesn’t have the records (or the summary of the records) required to understand the state of the bank—that is held (and only held) in the books at Bailey Building and Loan. Of course.

Computers allow us to access the books in many locations. But even today we (in the back of our minds) know that the books can only be in one place.

Well, this isn’t true. The books can be distributed. And with Factom, not only can the books be distributed, but cryptographic proofs can be used to validate and verify particular parts of those records while holding back critical information that might preserve privacy or business processes that are outside the purview of the examiner.

There is no mining. Currently, no factoids are being created at all. The Factoids in existence are from the ICO (Initial Coin Offering). The Factom protocol is operated by a federation of server, and after the third milestone those servers will be rewarded with newly created Factoids. Developers are only just finishing the second milestone (Federation).

There is both a terminal interface wallet and a rough GUI wallet. Soon, some other wallet options will be available including integration from the Exodus wallet.

What is it that we would have prevented? Avoiding having to put in literature and on websites "Factom (r) Protocol" by giving the option of using "Factom Protocol (r)" ?

Don't know why anyone would care. Consider Redhat ... https://www.redhat.com/en/technologies/linux-platforms/enterprise-linux

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Note that they have a line with a awkward couple (r) marks up front, but nothing in titles, and nothing that then hinders the rest of the text is. The requirement for even a few awkward (r) somewhere in the text really isn't an issue.

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[Edited for clarity]

You should take a look at the Resources for New People post stickied at the top of this sub.

A lot of helpful links there, including this one.

> https://steemit.com/factom/@cryptozod/factom-fct-current-users

This almost needs to be in the sticky resources thread at the top of the page. Otherwise we'll be answering the same question every 2nd day.

Thank you! I wrote the post as part of a series on blockchain projects. So far, we have reviewed: Sia, Storj, MaidSafe and now Factom. You can find all posts here if you are interested: https://steemit.com/@iainc (Steemit will get its own review too, one day).

I would add something like monero to the worthwhile coins, in that it fills a niche and provides a point of difference.

Did you see this article yesterday about current users of factom? It's not exactly what you're looking for, but there's some stuff in there I was unaware of.

https://steemit.com/factom/@cryptozod/factom-fct-current-users

Some of you may already be one of the 5 million users of the Blockfolio app (https://blockfolio.com/) which tracks your crypto portfolio for you.  The app has a feature called “Signal” where the teams behind a token can message all the people holding the token with news.  The marketing team have been working hard to get the Factom Protocol onboarded to Blockfolio and we are pleased to announce that we have been successful.  If you are a user of Blockfolio already, you can follow FCT by searching for “FCT”, opening the details of FCT, then clicking the big, red “Watch” button.

Book: "Me and Lee" by Judyth Vary Baker link

(Completely unrelated to op.)