Using Proof of Stake will end up with Masternode stakeholders owning a lot of beach front property.
Edit: Proof of Stake will allow large Factoid holders to vote on the conversion rate. They will make it prohibitively expensive to buy entry credits. Wealthy attackers can create counterfeit entries and cause genuine entries to be ignored by consensus. In other words, Proof of Stake is not a good consensus, especially for property. Wealthy factoid holders will collude to attack record systems of valuable real estate. This has already been done in countries that have gone to computerized real estate bookkeeping. It would be better to not avoid Bitcoin's consensus approach. Proof of Work offers stronger protection from such attacks.
This. A thousand times this. Attacking POS is economically more feasible than POW.
I'm not sure I completely understand your points... But want to point out that Factom is secured by Bitcoin which is PoW
Entry credits are a fixed value. Perhaps they are hedged Bitcoin contracts, but they are purchased with a floating value Factoid that uses Proof of Stake. Bitcoin hedge contracts expire and become volatile over time, so either you will have to secure with holding bitcoins or create new contracts using Factoids.
FACTOM claims that you won't be using bitcoins.They expect people to go from USD to Tether to Factoid maybe?
Likely. It would be better to use a Tether approach and transition to a Lightning Network 'hub and spoke' model.
Factoids are using a protocol to transact on Bitcoin's PoW network, but it is true that Factom will not be using 'bitcoin the currency'.
Entry credits are like IOU's in the Factom network, a fixed value against the floating value of Factoids.
Factom has its own consensus model which is explained in the whitepaper here:
https://github.com/FactomProject/FactomDocs/raw/master/FactomLedgerbyConsensus.pdfNice, that's some good info. I was curious about Factom's 'use' of the actually currency. Thanks for clearing that up