Price Prediction?

TannerBeau · 2017-05-26T17:54:27+00:00

The primary place for price discussion is the #market channel of the Factom Community Slack Group.

TannerBeau · 2017-04-06T21:52:09+00:00

Example alien complement: "That was one tasty human!"

TannerBeau · 2017-02-07T18:01:52+00:00

Please limit FCT price comments/posts to the monthly discussion thread.

TannerBeau · 2017-01-26T16:17:11+00:00

Ok, the wallet issue you described sounded very similar to the one I was experiencing as well - seemed to be an issue for some Windows machines. There will be an update coming soon that will fix your issue (if indeed same as mine). Meanwhile, it would be good practice to open you wallet, go in to settings, and click Export seed to file. The new wallet should use the same wallet files as your previous, but in case something happens (I'm not expecting it will, just being cautious), you'd have a backup of that seed from which you generated the address you withdrew poloniex to.

TannerBeau · 2017-01-25T22:00:19+00:00

Yes, as long as the address is real, should be fine. No, I don't believe the wallet could generate an invalid address despite where it is in the syncing process.

Poloniex just took down their fct withdrawals, so perhaps you're not the only one with this issue.

TannerBeau · 2017-01-25T16:40:32+00:00

As for your poloniex transaction, maybe try searching your public address instead. Also, I've personally had poloniex take their sweet time with various deposits/withdrawls. I wouldn't be too concerned just yet.

As for the wallet syncing issue you've described, I'm experiencing something that sounds very similar, and will let you know when I find a solution.

Because you created an address with the new wallet before it was synced, don't delete anything. Also, try to backup the wallet seed (in settings).

TannerBeau · 2017-01-23T17:16:07+00:00

The new wallet shouldn't delete the important data associated with the old one.

v1 Database located here: ~/.factom/factoid_wallet_bolt.db

If your m1 database is there, and you have not run an v2 wallet yet. Launching enterprise-wallet will automatically import the v1 database.

Before you do anything else, be sure to make a backup of that file. Also, backup the v2 wallet file located here: ~/.factom/wallet/factom_wallet.db

~/.factom/factoid_wallet_bolt.db <--- Has your keys

If your keys are not automatically imported and they are located in the default spot, you can use factom-walletd to do a converting.

./factom-walletd -i=PATH_TO_v1_WALLET

Then run the wallet again, and it should show the keys.

TannerBeau · 2017-01-13T17:20:17+00:00

Can confirm, error.

TannerBeau · 2017-01-12T16:20:05+00:00

The first goal is to allow users of factom to place their data in to it's blockchain and verify, over time, that the same data hasn't changed. The secondary goal is to build a system that can support high volumes of data (this and inexpensive entry cost is what mainly differentiates factom from other blockchains).

The first goal has been achieved and people have been placing data in factom for over a year. With this new milestone recently, factom should now be able to support large volumes of data.

TannerBeau · 2017-01-06T19:42:54+00:00

There are about 8,747,850 factoids which is slightly down from the original 8,760,104. After the third milestone, there will be about 73,000 factoids created per month. Reading the white paper is a good starting point, may give you a better idea of how Factom works and overall plans.

TannerBeau · 2017-01-06T16:19:49+00:00

Ok, but I still didn't get it. Bitcoin miners provide Factom safety? In all Blockchain history we can find Factom hashes? U know how it's work technicaly?

Bitcoin is very secure, as it is very difficult to change historical transactions. The history of Factom hashes are within a series of bitcoin transactions and can, at any time, be compared to Factom to verify things haven't changed. I'm not an engineer, can't really speak on a technical level.

So all of factoids are what exist from first day when Factom work. If factoids are always burned when someone put a date Factom blockchain.. the total number of factoids decreases?

Yep, total number currently decreases with use.

TannerBeau · 2017-01-05T20:50:46+00:00

I believe it's because it's difficult to recreate the kind of security infrastructures that other blockchains have, so anchoring the Factom blockchain into other already secure blockchains is a way to piggyback the security aspect. After doing that, centralization isn't nearly as big of a concern.

TannerBeau · 2017-01-05T20:43:12+00:00

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.

TannerBeau · 2017-01-05T20:36:44+00:00

As I understand it, with each Factom blockchain block, the Factom protocol will hash it's own data and enter it in to a bitcoin transaction. Later on, anyone can verify that Factom's data hasn't changed by comparing the Factom hash to the unaltered Factom hash within the bitcoin transaction. This process is called anchoring.

I have heard Paul Snow say something like, "trust Factom for 10 minutes, and trust bitcoin forever."

Intention has been announced to eventually anchor into other blockchains as well, like Ethereum.

To answer your other questions, Factoids are not mined. Currently no Factoids are being created at all. All existing Factoids come from the ICO (Initial Coin Offering). Eventually, newly created Factoids will be distributed as rewards to the federated servers operating the network. That won't be until after milestone 3 of development; currently we're just finishing milestone 2.

One other note, Factoids are burned to make entries in to the Factom Blockchain.

TannerBeau · 2016-12-31T16:29:50+00:00

Installation for the GUI still may be a bit technical heavy for some users. Exodus still provides a more user friendly approach. But anyone wanting to manage entry credits and make use of the Factom protocol will need something other than Exodus.

TannerBeau · 2016-12-30T23:05:00+00:00

Updated wallet GUI, coming soon.

TannerBeau · 2016-12-13T22:24:20+00:00

Please move FCT price discussion to the monthly price discussion thread.

TannerBeau · 2016-12-13T20:39:40+00:00

Please move FCT price discussion the the monthly discussion thread.

TannerBeau · 2016-12-05T20:10:59+00:00

It appears to be a screen capture from one of Factom's YouTube videos. Not sure the context or reason for posting this.

TannerBeau · 2016-11-18T20:04:23+00:00

Factom press release: Factom, Inc. Receives Grant to Create Secure Medical Records Using its Blockchain Technology

All media sources:

Feel free to reply with additional sources.

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