Factom has gone up like 120% a week, even in the middle of the crash. Does anyone have any ideas why?
A whale was buying up huge amounts on Bittrex.
And there has been some good news recently.
A company called Equator is integrating Factom. They are one of the biggest supplies of mortgage services in the USA.
Ledger support has just come out.
There are many other companies starting to use Factom, but we don’t know the names of most yet due to NDA’s, but we should find out at some point.
The Factom team are working hard to get on Binance.
It was a low cap coin outside the top 100 with one of the most legit projects and teams (after Maidsafe of course)
Maybe there is some more news to come and a whale knows it, but I think Factom has huge promise.
They have recently mentioned smart contracts being introduced and a talk of some kind of stable coin on Factom. Lots going on.
Just checked on Bittrex and the whale is still there with a 32 BTC buy order at current price. Factom could still have a lot more steam in it yet.
A binance listing now would send it into orbit.
That has been my view too, but I kind of lost my faith a bit. I haven’t been following it closely at all, but it has seemed to have a track record of postponing of this and that “promising news” - and I myself have been short tempered.
Easy to lose faith when the market is crushing the price, but Factom are having some genuine adoption, which is nice to see.
Also they have been working hard on development to get the protocol finished and many things put in place. Looks like that hard work is paying off now, and they can concentrate a little more or marketing, etc.
Ironically, SAFENetwork can potentially do a much better job of their goals; it can store both the hash of the documents AND the document itself, both securely.
Indeed, but it’s also about timing and confidence. We (and companies) now know that the various forms of blockchain work stably, and hash+timestamp does the trick for simple verification. SAFE will indeed be better, but we still all use QWERTY keyboards. The sooner people can see proof of concepts on a running SAFE network, the less network effects we will have to overcome later.
True, it can maybe do it better. The only thing I’m not sure Safe will be able to do is timestamp it correctly as the network doesnt really know time.
Maybe a combo of the two would work very well? Store the document indefinitely on SAFE, but hash it to Factom?
How would you see it all working just in Safe?
How does the blockchain do time? It uses the time from the computers.
So the APP handling this stuff can take the time from the PCs or other sources. Not hard to do.
There are lots of potential solutions for the timestamp problem, the simplest probably being something like a container file format, with a link to some timestamping service or the last BTC block hash, and the file itself held together (or simply putting some similar timestamp in the document itself … merely recording the date in the document is spoofable). SAFE makes it all possible, just have to roll up the sleeves a bit.
You know the time on a blockchain because a certain block is mined at a specific time, and if I document was hashed to that block it is pretty much impossible to change it. And with bitcoin for example, a block is mined pretty much every 10 mins, so it is fairly easy to calculate backwards to see if the time is accurate.
If I add a birth certificate to SAFE how I can prove that it was done ten years ago and I didn’t just add it yesterday with a date on from ten years ago? A blockchain has this kind of proof built in.
Yes, I’m sure there will be a way. It be nice to find a way without having to bridge to the clear net.
I think what’s valuable in Factom is not only the coin and their blockchain protocol, but the interface they have developed to make file & version verification usable. Maybe that is something that could later be ported to SAFEnetwork, and maybe at some point they could collaborate with Maidsafe to do this.
Yeah it’s very good.
Also the two token system they have is very interesting and makes it much easier for companies to adopt, knowing how much exactly it will cost to hash a document no matter what the price of a Factoid is.
Wonder if this is linked to the news that Tresor will be supporting Omni assets?
MAID is also fairing well in a day where almost all (other than stable coins) are taking a bit of a kicking.
Yeah you are maybe right Nick about Maidsafe. Also with the crust test and many hoping / thinking Alpha 3 isn’t far away.
Factom is having similar developments, but with the adoption on the top of that, is really helping it get noticed.
If you guys can launch Alpha 3 soon that would be great Normally it would seem best to do it in a bull market, but it may actually get more attention in this bear market with everything else getting beaten. No pressure
Yes I’ll take a SAFE Fleming (A3) launch anytime
Something interesting I read today:
"The last time something like this happened was during the mid-90s. Individuals were making enormous amounts of money buying companies like Dell, AOL, Microsoft, Netscape and some of the other smaller internet stocks. Institutions had completely missed the bull market and were looking for a way to join. The bear market in 1994-1995 provided a great opportunity for them. Institutions were out saying “Oh anybody buying Internet stocks, you’re idiotic” and so you started to see people selling their AOL, Microsoft, and Dell shares. I’m sure you can guess who was buying, it was the institutions.
Institutional allocation to venture capital internet deals doubled between 1994-1995, which was exactly when institutions were spreading all this fear, uncertainty and doubt into the minds of small investors. You can go back and look at some old CNBC clips during 2003 and you’ll see them saying “Oh don’t buy tech stocks, everyone knows they’re evil”. However, if you look at the 10-Ks, 10-Q’s and all of the quarterly filings of these institutions then you would find that they’re all loading up on tech stocks. They literally stole all this wealth that should have been in the hands of individuals and put it into their own pockets. From 1995-2000 we saw 5 Trillion dollars come into the market which propelled one the biggest bull runs we’ve ever seen. This blueprint of creating fear in order to get cheap prices isn’t anything new and we’re seeing it again with Bitcoin and Cryptocurrency."
It is a great time to accumulate if you have a 10 year outlook. I would guess the shake out on Wall St with more to come is also causing Bitcoin holders with large profits to take some off the table