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by PaulSnow
Wed Dec 23, 2015 4:44 am
Forum: AMA - Ask Me Anything
Topic: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!
Replies: 34
Views: 81896

Re: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!

Can you briefly tell me some pluses of Factom over a proof of existence like website?

Factom allows the user to build a chain of entries. So you can not only place a copy of your will on the blockchain, but every update you might make afterwards.

Most documents are not static things. They ...
by PaulSnow
Fri Dec 18, 2015 6:00 pm
Forum: AMA - Ask Me Anything
Topic: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!
Replies: 34
Views: 81896

Re: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!

I'm sorry think you actually explained this, but I couldn't really understand clearly... Why can the protocol just pay the Federated servers in Entry Credits which they can sell again?

Let me answer this question, and if we need to go into more depth, we can do so.

The goal of Entry Credits is ...
by PaulSnow
Fri Dec 18, 2015 12:02 am
Forum: AMA - Ask Me Anything
Topic: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!
Replies: 34
Views: 81896

Re: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!

Hello Paul

I was re-reading Antifragile by iconoclast thinker Nassim Taleb recently. He writes "Never ask anyone for their opinion [...] Just ask them what they have -or don't have- in their portfolio" I have come to think it's a very relevant question and you can better weight people's opinions ...
by PaulSnow
Thu Dec 17, 2015 6:13 am
Forum: AMA - Ask Me Anything
Topic: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!
Replies: 34
Views: 81896

Re: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!

I will be happy to check here from time to time over the next few days and answer any questions that might come up.

I am certainly happy to discuss Factom, its design, goals, uses, etc.

I am just as happy to discuss anything going on in the Bitcoin community. I have opinions about the block size ...
by PaulSnow
Thu Dec 17, 2015 2:51 am
Forum: AMA - Ask Me Anything
Topic: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!
Replies: 34
Views: 81896

Re: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!

Can you clarify your fundraising a bit for me? I participated on BnkToTheFuture. On this press release http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/FFWD/12538849.html it states:

"As at 30 September 2015 Factom had total net assets of US$55,727." Did Factom have ...
by PaulSnow
Thu Dec 17, 2015 2:39 am
Forum: AMA - Ask Me Anything
Topic: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!
Replies: 34
Views: 81896

Re: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!

I would also like to understand why you sold factoids rather than allowing federated servers to simply sell entry credits for Bitcoin? Is the obfuscation simply so you could call them software licenses and do a crowdfund, or was there some other reason they were needed for the purpose of consensus ...
by PaulSnow
Thu Dec 17, 2015 2:07 am
Forum: AMA - Ask Me Anything
Topic: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!
Replies: 34
Views: 81896

Re: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!

Hi Paul, I'm happy to see you're doing good progress with Factom. Our organization (Bitnation) is more focused on DIY notary services (amongst other self-governance services). In what way, if any, do you think the two approaches could work together or benefit from each other?

Factom is intended ...
by PaulSnow
Wed Dec 16, 2015 10:31 pm
Forum: AMA - Ask Me Anything
Topic: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!
Replies: 34
Views: 81896

Re: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!


Congratulations on getting Factom to milestone one. Are there any companies using Factom in production applications? Also, the price of Factoids has declined by over 90% since trading went live. How does this price decline impact those that purchased Factoids in the crowd sale or the viability of ...
by PaulSnow
Wed Dec 16, 2015 9:44 pm
Forum: AMA - Ask Me Anything
Topic: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!
Replies: 34
Views: 81896

Re: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!

One of the observations continually made against raising the block size is the growing centralization we are seeing in the Bitcoin network. Specifically, the falling number of full nodes.

Today we have about (less than) 6000 full nodes https://bitnodes.21.co/

In my opinion, the following factors ...
by PaulSnow
Wed Dec 16, 2015 6:41 pm
Forum: AMA - Ask Me Anything
Topic: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!
Replies: 34
Views: 81896

Re: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!

Will factom be secured by Bitcoin or will it have its own blockchain like an altcoin?

Factom is a hybrid of a number of approaches. The 32 federated servers are selected ahead of time so there is no contention about what entity is ordering what part of Factom. Blocks are created every 10 minutes ...
by PaulSnow
Wed Dec 16, 2015 5:45 pm
Forum: AMA - Ask Me Anything
Topic: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!
Replies: 34
Views: 81896

Re: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!

So currently your servers are making about $500 in two months. Are you concerned that at these rates, there will be no profitability in supporting 12 servers? If those servers ran on the benevolence of the factom foundation, would Factom then be a defacto centralized data store?

We have only a ...
by PaulSnow
Wed Dec 16, 2015 5:23 pm
Forum: AMA - Ask Me Anything
Topic: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!
Replies: 34
Views: 81896

Re: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!

What are the incentives to running a factom server? How many factoids are being consumed per day right now, and what's the USD value of those factoids? How many servers are on the factom network being supported by these factoids?

Opps. Failed to discuss consumed Factoids.

Factoids are converted ...
by PaulSnow
Wed Dec 16, 2015 5:14 pm
Forum: AMA - Ask Me Anything
Topic: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!
Replies: 34
Views: 81896

Re: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!

What are the incentives to running a factom server? How many factoids are being consumed per day right now, and what's the USD value of those factoids? How many servers are on the factom network being supported by these factoids?

Until the protocol has the target 32 federated servers, there are ...
by PaulSnow
Wed Dec 16, 2015 4:52 pm
Forum: AMA - Ask Me Anything
Topic: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!
Replies: 34
Views: 81896

Re: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!

So I've heard that Factom is pivoting from the sale of checksums to "Blockchain consulting'. At the top of this thread - you announced Factom as "a scalable way to secure meta protocols and private chains". When did you decide to pivot, why, and what's the plan now?
We have never planed to sell ...
by PaulSnow
Wed Dec 16, 2015 2:37 pm
Forum: AMA - Ask Me Anything
Topic: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!
Replies: 34
Views: 81896

Re: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!

Dear Paul,
Would you like to start with what is the current status of things at Factom and what's next?
How is milestone 2 shaping up? Any rough estimate on completion?


Factom is a protocol to support applications that can make use of a public, immutable ledger of data. These applications can ...
by PaulSnow
Wed Dec 16, 2015 2:06 pm
Forum: AMA - Ask Me Anything
Topic: I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!
Replies: 34
Views: 81896

I am Paul Snow, the architect of Factom and chair of the Texas Bitcoin Conference. Ask me Anything!

I view Factom as a scalable way to secure meta protocols and private chains with the Proof of Work Bitcoin provides. I do not believe Bitcoin can act as a settlement layer (as many envision) without a number of meta protocols to support the processes that go along with settlement that exist along ...

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