Quote from: estanis on December 01, 2016, 01:49:21 PM

Quote from: tempus on December 01, 2016, 11:40:26 AM

Quote from: Mrfrismint on December 01, 2016, 11:12:51 AM

A few questions I hope someone can answer.

The reason Factom works with a token (Factoid) is to prevent it from SPAM. With Factoids you can buy (EC) Entry Credits.

1. What is the price of an EC (as I heard this always stays the same, regardless of the Factoid price)?
2. Are the costs of 1 entry equal to 1 EC?
3. If the Factoids are meant for preventing SPAM, why are they tradable at all? i.o.w: Why not just buying EC's directly for a fixed price and that's it.

1. Price is $0.001

2. yes

3. Factoids are also meant as payment for those who run the federated server (about 73k FCT in total per month). That's why they are an important aspect for a decentralized system. And the value of Factoids will reflect the use of the system, because every time when Entry Credits are bought, Factoids are converted into EC's and "burned" and the total supply decreases.

Price for an EC is $0.001, but in the future who will set the price for an EC? Factom? Federated servers?

I'm not totally sure if it's still the plan, but I believe yes: There might be something like a voting-mechanism of the federated servers, that they set the price to find the best equilibrium between high-usage (a low EC-price would be an incentive) and a high burning rate of Factoids per EC (a high EC-price would burn more FCT's). Or the other way around: If they would set the EC-price too high the use of the system would decrease. If they would set it too low, the rate of use would increase but the burning rate per EC also would increase.

Since the federated servers will be paid with Factoids it also would be their intention to do that as good as possible to ensure a price of Factoids that is as high as possible.

But I don't know if that is still the plan but I believe yes.