Some customers may be interested at many/high prices - proofofexistence.com costs $2 now!? Yet i could post a hash in bitcoin transaction myself and waiting for a low fee, no? - which bloats bitcoin blockchain but for the time being is better/easier/not relying on more - Yet keeping paying customers ultimately depends on Factoms business relationships,
- if it gets too expensive customers/competitiors could start running another Factom network/chain being opensource.
- if it gets too expensive customers/competitiors could start running another Factom network/chain being opensource.
So you prefer to pay 10 to 100 times as much , and also wonder when it will be on the block , and bloat the bitcoin blockchain with useless
space compared to just se factom and be innovative
Not what i said but Bitcoin transactions are available for few cents to be confirmed several times in minutes. So right now $0.04 or less will be a better proof of existence for the Author since it doesn't rely on other/small(er) networks. (Proofofexistence.com sells 10 or 20 transactions for $2 ech per day, but pays $0.04 in fee for them. Factom can be cheaper and maybe they can convince institutional/B2B customers.)
Factom must not protect Bitcoin. If Bitcoin isn't resistant to spam, that is a lower level problem.
Thank you mentioning 500 Factoids (0.5M entries) are consumed per month yet, i think i read that too last year? Is there website yet to check the Factom network statistics?
Factom can't grow by more than 876GB per year, so that may be slow enough, just curious still how the reward for servers changes over time.
there may have been some arbitrage
There is always arbitrage and there must be arbitrage so that the price is hard to manipulate and protects reasonable traders(unfair short squeezes/long squeezes) Pump&dumpers may be able to control one market but not all. Since Factom has a relatively low market capitalization you also want to check if competitors move similarly, or if not - for what reason. The real peak was'nt 0.0087 but rather 0.007 (Again, I'm not speaking against factom, this event simply made me disagree with the pumping trolls)
