(...) Will the use of FCT drive the price higher? (...)
Of course. Just one example, without saying that it's a realistic scenario for the next months:
If there would be 1 billion Entries per month, it would cost:
1,000,000,000 * $ 0.001 (costs per entry) = $ 1,000,000
That means: It would need Factoids for $ 1 Mio per month to convert into Entry Credits. At the current price that would be 909,090 Factoids which would be burned each month while there are only 73,000 new created Factoids each month.
That means: With 1 bn entries per month it would need a much higher price, otherwise more Factoids would be burned than new created and the price would rise naturally because of the decreasing supply.
The balanced-price would be where:
.... the costs of Entries per month are = the value of the new created Factoids.
73,000 FCT's = $ 1 Mio
1 FCT = $ 13.7
What would happen if not speculation would lead to an increasing price? The supply would decrease and the price would increase naturally.
Btw: If Factom would have so many entries like Dropbox has uploads the price would go above $300 per FCT. But again, not saying it's realistic to expect that high demand. To be honest: I have no clue what we can expect. But if we think about the smart-city-partnership etc., at least I believe it will be more about billions than about millions per month. Provided that Factom will be realized as planned of course.
What I really would like to see are the scenario-calculations of the team, what they believe is realistic. But until now there was no Factom-Whistleblower
So another way of looking at this is....
400 Entries; Cost 10 Entry Credits to start a Factom Chain; 1 entry credit is up to 1 kb of data.
So....
That is more than 73k per month so value will go up as long as people are uploading more than 80-100GB per month?
an EC costs 0.005 ....not 0.001 so you were being conservative I think...so the end result could be higher than what I said above in the calculation...