Factom For Investors #7 – What We Learned From Visiting The Factom Headquarters

Tai Zen: So you said you went down to the Factom Headquarter today?

Leon Fu:  In Texas. And I met Paul Snow. He started the Texas Bitcoin Conference with that guy that we met at the Conference Bitcoin meet up.

But he’s also the founder and creator of Factom. He wrote about 90% of the original code for Factom. He got a lot because he is the creator.

Tai Zen: It’s quite safe to say that he’s a multi-millionaire right now.

Leon Fu: So, there’re a lot of good things come in like they’re in China right now, some of his business guys are in China try to make a deal, I think that it’s really the cores of this run because I saw in a whole box, what’s up with Factom, and they got rumors going all around, something got out.

One thing that did surprise me is that a lot of people that work there, like the employees, some of the engineers that have jobs there, they have a lot of Factoms and all. You’re buying it at around $1, but these guys would’ve been buying it at 10 cents because they work there.

Everything that I was told, they knew a month before I do because they were the ones working on it, everything they’re telling me they’ve already known. And I was very shocked that we bought a few thousand Factoms, these guys must have a few hundred thousand of Factoms.

Tai Zen: Well, you working in the sector, exposed to the VC world and my trading and stuff, I think it’s like a combination of several different things, not just 1 factor that makes somebody successful in trading or investing in it.

Leon Fu: Obviously the founders have big conditions, but I’ve also met a lot of people just work there, they are employees and they work there. They are engineers, designers, or recruiters, or whatever they do there, they don’t really have big positions there. They look at the price and they have no idea what its worth.

One thing that they do have is they’re working on a much better wallet, that’s what I heard from him is that they’re going to do an acquisition or they’re working on their own wallet but they’re gonna have a much more working with one of the wallet makers. There’s gonna be a much more user-friendly wallet, so non-technical people will be able to buy and sell Factom.

Tai Zen: You know what’s interesting is that he gets in touch with a guy from the NXT community, because all the wallet client that I have seen, the one that I believe is the most professional looking and the easy to use is probably the NXT software, the NXT client. I don’t know if you’ve seen the latest ones, but to me, those are the best ones I have seen on the market.

Leon Fu: What they really look for is like a multi-coin wallet, right? You can have like Bitcoin, Dogecoin, Litecoin, Ethers, a bunch of them. And you can manage all your Crypto within one wallet.

And it also integrates with Shapeshift, so you can just trade between coins within the wallet itself, you don’t have to worry about, copy and paste this address and sent it all to other address.

Tai Zen: I know exactly what you’re saying. I notice that recently I’ve tried to make some transfer to several of my friends just now getting into Bitcoin and Cryptocurrencies. And I notice that when I try to type in, they don’t even have a feature, for you to even to type in the address.

You can only scan it, or you can copy and paste it, but you cannot type it in because I guess for security reason, they don’t want you to access and type in a wrong character and send it to a wrong account and then they cannot retrieve it.

Leon Fu: Anyway, that’s coming with Factom because the wallet right now is a pain in the arse. Anyway, that’s all I got for that.

I spoke a lot about their business, they got a lot of deals going on that they’re working on. I like this for the long term, in the short term I think it’s probably gonna start it safely.

Tai Zen: So you’re gonna stick with that valuation?

Leon Fu: Remember the 2 big opportunities that I think that are coming up, that’s really the 2 I’m gonna make that come out.

Tai Zen: Ok, well let’s see. We’ll take a look and see. Hey, you are in Austin now?

Leon Fu: Yes, I am.

Tai Zen: I’m at 66 Street now. I’ll catch up you later. Take care, bye!

 

 

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