Quote from: S.Boxx on November 17, 2014, 07:45:19 PM

Let me guess, you want us to buy some FactomCoins or some type of tokens (other than Bitcoin) to make (you ritch), I mean make it all work? This all sounds REAL familiar....

Sure, absolutely. Cheesy

There is no doubt that I would like to insure the development of Factom
is funded, provides a reward to those that participate and contribute. And
there is no doubt that we have constructed this project to insure we have
funding to support the project. That includes making sure that nobody
starves.

But it is also true that the project, once launched has no inside track for
anybody, including us. And it is also true that the Factoids, the token used
in Factom, is designed such that it NEVER has to leave the protocol and
the the servers it pays. That is because we created an architecture where
servers can provide access for other pay (like cash or bitcoin) and return
the Factoids they receive to the protocol.

Protocol pays Servers Factoid.

Servers use Factoids to create Entry Credits and assign the EC to users.
Factoids are returned to the protocol. That's how Entry Credits are created.

Users use Entry Credits to place Entries into Factom. That releases the
Factoids back out of the Protocol to the Server.

rinse and repeat. Note that nobody HAS to trade Factoids out of the system
to make this work.

There is no need for anyone to touch a Factoid to use Factom. And the
servers get paid. But Factoids can be traded, so they will be. But the key
is that they do not have to be.