ccn.com
Also- I thought it was Japanese, the fuck? Japan hates Korea.
OMG is gonna be huge, isn't it?
Angel Jones
Other urls found in this thread:
blog.omisego.network
youtube.com
twitter.com
Ethan Jackson
They’re working with Japan as well... they have one twitter handle or YouTube channel that is Omise_japan
Ryan Reed
Korea was a surprise. They have Japan and Thailand too. Singapore and Indonesia are next.
Look up the global trade connectivity network.
My theory: The Global Trade Connectivity Network will map dozens of banks across various countries in Central Asia, Pacific Asia, and South East Asia, while simplifying cross boarder payments. "Project Ubin" is an initiative that has already been undergoing testing in Hong Kong & Singapore with backing from from blockchain research facilities and may be using ripple/stellar technology.
As part of the initiative to expand this network to southeast asia and pacific asia (Japan..) with Project Ubin Phase 2, "AFIN" is creating the decentralized platform. The platform will help bridge SEA into the network of simplified cross boarder payments, while also offering services for under-banked people in SEA. The end goal of Project Ubin is to offer a global financial solution, which is currency agnostic and easily accessible by any third party business or individual.
Hunter Martin
If OMG continues its reach in Korea it will be that much more adopted. There are still many details kept secret
Leo Hughes
Do people realize that once sharding is out Vitalik has literally computed that a plasma sharded transaction fee will be approximately $0.00001?
Even if OMG manages to transact a dozen trillion transactions a year you're still not making anything in staking off of that unless you're in the top 100 wallets.
So what the fuck is the point of this shit? It's literally a Ponzi scheme where the only people who can actually benefit in a serious, life changing way, are Vitalik and his friends. And then he has the audacity of pretending to be for the little guy? Please.
Do any of you know how governance will work on the OMG blockchain?
>muh they announced fee floors
>muh the fee will be dynamically determined
Will you get a vote of you aren't staking? Who will be staking? (not "will pools exist" but who will actually care about staking given the size of their stake -- the rich).
So you're going to have a small group of people who don't care about your small stake deciding to keep tx fees low to stay in the good graces of the wunderkind meanwhile all the other 500,000 OMG holders are completely fucked with $0.00001 fees making any investment in the network completely worthless and the million coin wallets can at least take home a decent income -- enough to keep travelling around the world talking about how much they need to help the poor!
Blockchain is a particularly disgusting animal combining Ponzi scheme and religious signaling. The only people rich enough to do the signaling are those early enough to fuck everyone over.
Hey, I hope OMG explodes in value enough to make your investment worthwhile. But don't count on making a single penny in staking. That's Vitalik's game.
For the poor.
Leo Bailey
realistic eoy price prediction?
Angel Wright
Why did the gooks use OMG and not fucking ICON. GOT DAMNIT I HATE HOLDING THESE ICON BAGS I GOT GOOKED REEEEEE
Parker Rogers
Where are your sources faggot? You're criticizing assumptions by making assumptions (which are heavily exxagerated)
Either way, yes crypto is a ponzi but you can make a ton of money with already having capital and investing in the right projects.
That doesn't work if you're a migger with a few grand in the bank FUDDing all day. You're still going to be a migger living on the government like a leech
Connor Scott
don't care about staking because I'm never going to have enough to make it via staking anyway, but what do you think of the price of OMG? how high can it go?
Michael Gutierrez
I am no migger. Vitalik has said it himself on Reddit about 4 months ago.
This entire project is a sham. How is your 200 validator maximum any different from dPoS? So you can't vote on a validator but attach your stake to a pool instead? Oh wow! Very impressive much decentralization.
How are you going to make enough money with your $0.00001 transaction fee?
How are you going to convince the whales with their 4,000,000 OMG to vote to keep your fees above a penny because otherwise it won't make any difference to your bottom line with your 1,500 OMG?
How will you convince King Autism that people don't actually give a fuck about the difference between a $0.01 And a $0.0000000001 fee when he brings up starving Nigerians?
This entire fucking thing is a humanitarian ejaculation by an autist who has already made it and doesn't give a fuck about the dumb money spent leading up to his saintly creation.
Angel Hughes
Your entire assumption is based on the fact that OmiseGo would put TX fees at 1/100 - 1/1000 of a cent. They went to remain competitive but they also want to make money.
That's why fees are dynamic - Still TBD as to what the fees will be, but to offer a competive advantage over Visa/Mastercard with 3.5% fees will be seamless. It is about finding the right balance of tx fee and profitability for it to work for every party involved (including their new partners). Vitalik's sentiment about these fees for plasma are for tx within the eth network.
Nice try Fudding, I guess you can't think from a business development standpoint and only rely on a linear thought pattern that says the bare minimum is to be expected.
Also the way you type and the clear emotional response your having leads me to believe that you're really angry about something, like you got burnt from ETH or OMG and now you are targeting them with false information.
or you could really just be fucking retarded and not have any idea what you're talking about.
Asher King
Who the fuck asked you?
Chase Sanders
What information was false?
OMG surely does want to make money. But that doesn't have anything to do with you, the common moderate sized holder.
Even at an absurdly low fee, OMG still takes home millions of dollars. And if Vitalik says (as he verifiably has said I literally screenshotted it for you) that $0.00001 is "at cost" for a transaction and that anything higher than that qualifies as rent extraction, what exactly is OMG going to say about that?
You really think that you'll have away over OMG blockchain governance decisions? OMG holds 20% of the stake, another 10 in advisors who I'm sure are totally objective and independent, right?
So they only need the consent of a small minority of stakers who aren't them in order to pass any governance measure.
Again, you know exactly how Vitalik feels and fees. As low as humanly possible. You know that OMG shares his vision.
You know they're all about refugees and the poor.
Where the fuck do you think these fees are ending up? For reference, why don't you check out how the Ethereum community is reacting to the suggestion of the 120m hard cap on Ether issuance?
Why do they very specifically believe that relying on fee income isn't enough incentive to stake?
Henry Scott
You act like you know preemptively what the OMG team aims to do. OMG isn't the first coin to donate to charities - Ripple and Stellar have donated millions more.
And Im not saying I will have my say in the TX fees, even though they proposed a dynamic fee model. The details aren't out yet, yet you talk out of your ass like you already know.
If you actually assumed and did the math on a .00001 tx fee, that would mean OMG would take a >95% hit on their tx fees for Omise. Despite mass adoption, that would still not be profitable for them in the long run.
Why don't you wait for OMG to formally present their plan instead of talking out of your ass? The token has been around for 8-9 months and has already established framework for running TX on central banks, credit card companies, and a wide array of businesses. Most coins are not even past the whitepaper stage yet.
All I know is, I'm very comfortable right now with over 1xxxx OMG in my holding. I'm not all in, but it is one of my biggest holdings. There are too many bright minds behind it, coinbase will most likely announce seed funding, and it will be at a new level in Q3 forward. No arrogant, annoying migger is going to change that.
Lucas Anderson
Btw, found this on google. Eat a dick faggot midget
Gabriel Wilson
What I don't understand is why it's not really mooning much. That credit card company news was probably the biggest news in crypto this year so far.
Jayden Davis
You're fucking dumb. OMG is purely a shitcoin. But hey, feel free to HODL for the next year and find out. People left this coin months ago. The hype is over, the staking is shit. The whole soft spoon on Cosmo is a confusing mess. This whole project is shit. And are you the fucking retard that calls everyone the migger just because someone doesn't like your shitcoin? There are more than one person who think it is a shitcoin moron.
Because nobody fucking cares. At this point in crypto, all that matters is what is going to increase your holdings because ..SURPRISE it's all a ponzi. A Korean bank interested in the OMG shitcoin doesn't mean anything for making money at this moment.
Ian Smith
Banks don't really partner with shitcoins do they?
Jackson Ross
Anything's a shitcoin when you don't have any
Anthony Ross
All this is folks is a salty virgin who unironically sold the bottom. i'm so sorry for your loss user
Noah Long
MOU doesn't mean anthing. OMG doesn't have a working product. They're just going to "explore possibilities" together.
Nope. Omisegoys are as deluded as stinky linkies and salty walties
Jackson Jackson
And they told the whole world this because?
Dylan Ramirez
Using a vpn to support your baseless fud.
You got burnt fucking midget black piece of shit. Nobody takes you seriously . Go buy ripple
Owen Scott
The south korea bank traveled to thailand to sign the mou.
Stay poor you waste of life nigger.
Luis Taylor
I wonder if the bank is going to make it's own fiat backed token and run it on the OMG network.
Brandon Sanchez
When will every OMG thread stop being shit? Is it really one guy fucking them up?
Jack Baker
yes it's like it's his job
Easton Hill
sorry you lost your money in crypto little guy
Jackson Foster
I would unlug your life support to charge my phone #fudmiglet
David Wilson
Every milestone envisioned by OMG, including 2 years of revenue are PRICED IN.
Hudson Foster
This tbph, and no one is going to use OMG, because it's an aborted shart of a VC fintech company.
Even in the tiny irrelevant Thai market, they are not the leading fintech providers, not by a long shot.
Jason Garcia
OMG and LINK are the best holds in crypto rn right?
Brayden Flores
William Walker
OMG has mooned in July-August 2017.
There's really no purpose holding a coin where investors have already profited and long gone. Everything is already priced in.
LINK is a long shot, but because it's still in development, it has potential for speculative gains.
Dump OMG, go into growth coins.
Nathaniel White
kek. Deluded omisegoys. I love trolling you fucking morons. They all immediately thing you're some black manlet. lmaoooo.
This. Only delusional morons think some ladyboy company is going to change the world by their token being on the muh plasma blockchain
Aiden Gonzalez
wow you're dumb as fuck.
Isaac Green
Hey James Edwards. Day 80 of fudding OMG? Perhaps you will like a nice shoutout on /b/ with all your personal information exposed. Kek i think you would love that
Liam Myers
I already tried telling these morons that but it's ok. They can be stuck holding bags with the stinky link crew
Henry Perry
>kek. Deluded omisegoys. I love trolling you fucking morons. They all immediately thing you're some black manlet. lmaoooo.
It's really like shoving Down syndrome cases around isn't it?
But I'm a sadistic bastard and I like to torment wagecucks and their inability to escape poverty.
Jaxson Powell
Just stop arguing with him. Jow Forums doesn't deserve OMG.
Ian Green
44
Justin Thompson
the AFIN breadcrumbs are definitely out there. still speculation but goddamn... my humble 1k OMG could help me so much.
Liam Howard
lol i see you've revised your thread. much more subtle than
>ONE
>DOLLAR
>PER
>YEAR
Mason Cruz
AHAHHAHA BUSTED. I FOUND YOUUUUU
OWING MILLS MARYLAND AND ALL CONTACT INFO
Jacob Wilson
Link to reddit thread?
Jose Mitchell
Top 5 coin EOY
Jacob Clark
James Grind Edwards on fb
Lincoln Rodriguez
KANG
Jayden Howard
So question for anyone that insists the tx fees will be basically worthless; Omise plans to move their current clients over to the OMG network. Why would Omise nuke their own profits?
>inb4 omise is a fake company
Aiden Taylor
Omise owns 30M OmiseGo tokens and will actively be staking as well, that is how they will be generating their revenue once they move their customers over to OMG.
Therefor the assumption that Omise would only limit themselves to $1 a year staking is asinine.
Camden Reyes
An MOU is exactly what omisego needs to do because you cannot partner or "contract" WITH AN OPEN SOURCE (FREE) INFRASTRUCTURE LIKE PLASMA OR THE OMG NETWORK. YOU CAN'T "PARTNER" WITH BITCOIN; YOU JUST USE IT IF YOU LIKE IT
REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE
David Ross
No, nobody in Asia actually cares about OMG.
Like NEO, it’s a western trap.
Logan Wilson
1) Omise correctly realizes that payments transactions is not a viable business in the traditional format anymore
2) Therefore, it's not "them" nuking their profits, it's the technology. Their traditional profits are going away one way or another.
3) So, how can they stay profitable?
>They make fees profitable IF you held 30M fucking coins.
Do you understand that, if you held 30M coins, you would accept a lower fee because either way you're making money?
For someone with 1,000 coins, you'd need a $0.01 fee to make it worthwhile.
For someone with 30,000,000 coins, you can accept a $0.00001 fee and still be happy.
That's how they'll do it. They DO NOT CARE about the ordinary medium range hodler. It doesn't factor into their decision making.
You know what does? Whether Vitalik likes them and doesn't consider their fee price to be "rent extraction" and potentially threaten to stop working on the project.
Whether a process is decentralized or not says nothing about human psychology. Vitalik runs Ethereum and its community. If he thinks you're rent extracting, he will destroy you.
For the poor, right?
Justin Butler
Damn, there is actually discussion for this coin compared to all the other coins.
Kayden Bennett
great response you twat
Ethan Diaz
What are you even trying to say?
Jason Watson
it was pretty clear, but allow me to explain for a brainlet like you:
>OMG could easily be structured in a way where the ONLY way you're actually going to make any real money off of staking is if you held 30M coins, like Omise does.
So all you faggots with your 500, 1000, 1500, 5000 coins are all going to be winding up with pithy returns no matter HOW popular and widely used OMG is.
The only thing that matters is that Omise makes SOME profit, and Vitalik doesn't believe there's any """rent extraction""" going on.
You're all irrelevant.
Julian Perez
How do you expect a decentralized network to function if there is no incentive for staking?
Dominic Bailey
Easy. It's oligarchic like all other blockchains.
There might not be incentive for YOU to stake, but there's incentive to stake for the people holding 1,000,000 coins that they bought for $1,000, which together with all of the other OMG whales account for over 40% of all coins.
Well secured, multi billion dollar blockchain, with all the staking needed to keep it running (only 200 validators anyway. Decentralization!! Definitely not similar to dPoS).
And you shrimp have no role to play in it. And no money to make.
"No moon."
-Thomas Greco
He's right.
Jason Wood
Thanks for the answers and not being the average retarded faggot about it. Food for thought...
Blake Clark
Did the migger just switch IDs?
Adam Peterson
>1,000,000 coins that they bought for $1,000
Dude.. At least fucking try. OMG has a supply of 140m not 140b. Cheapest you could ever get 1m tokens for was $200,000.
Christian Myers
This guy is larping user. In a previous thread the other day he compared the SDK wallet to myetherwallet.
Nobody can be that retarded.
Tyler Cooper
>There's really no purpose holding a coin where investors have already profited and long gone
You mean like LINK when it dumped from 11k satoshi to 1k satoshi?
Brandon Clark
You get the point, brainlet. You haven't responded to any of the criticisms about oligarchy.
Have you taken a look at what percent of OMG is owned by team, advisors, and a small number of major wallets?
How decentralized can you even be with 200 max validators?
Jeremiah Miller
Not everyone speaking against OMG is that nigger.
I did no such thing.
Robert Adams
Sorry retard, your entire argument is invalid because you are in lala land about the token distribution.
David Murphy
Retard
Jackson Long
staking pools?
i feel like the most important question is why would anyone FUD OMG so vehemently on a djiboutian trinket exchange?
Brayden Watson
HOLY FUCK MIGGER. Do you not have any life whatsover? All I see day in and day out is Omise fud threads with the same exact structure and fallacies in basic math/thought process. 65 replies and over 50% of them are you!!
James Edwards you may be the most retarded nigger Ive ever seen, and I've been to Camden NJ for work.
Levi Miller
200 equally weighted validators would still be more decentralized than just about every cryptocurrency
Charles Cruz
Anyway. Developers had consistently stated that staking rewards will be lucrative enough for anyone with any token amount to stake.
The incentive for having more OMG, ie 10,000 v 1,000 v 100 v 10, is that he more tokens you hold, the longer you stay in the staking pull. Lowest OMG token holders can be ejected from the validating pool if it is full, and someone with more OMG joins and bumps you out. However you would not be bumped out during the period of one month, only afterwards. (Source: Townhall 2)
Austin Wilson
>1m tokens for $1,000
Because he is paid to do it
Dylan Price
Again, try to follow along.
The criticism is not whether you have ACCESS to staking. It's whether it's remotely profitable to do so.
Can I prove I am white with an intelligence test?
Sebastian Bell
You're not fucking white dude!! We all know you are the cryptomedicated faggot that got his medium shit on for making stupid ass FUD. That was 2 months ago dude. Lmfao give it a fucking rest already.
You shoudn't be mad at anyone but yourself for revealing that you are a migger in your other twitter account
Elijah Lopez
So basically, there's no way to say anything against OMG otherwise you're just a nigger who can be disregarded because nigger.
Enjoy your delusion brainlet.
OMG was supposed to be one of the more mature crypto communities that actually had good answers for legitimate criticisms. Maybe you're just the retard of the group, but you make your community seem like LINK.
And nobody wants to be like LINK.
Brayden Sullivan
Lil nigga you feel obligated to criticize things that you have no knowledge of. The fact that you're a migger has nothing to do with it, its mostly because your claims are so outlandish and far away from grasping simple fundamentals is why.
But you being a migger is the icing on the cake. That's why whenever you make these threads you get called out, so everyone knows baseless fud that demands answers on things that are not announced yet is from a little black afrodondricus named James Edwards.
Sage
Elijah Myers
lol. blog.omisego.network
>there is no way for OmiseGO to control the fee structure. Fees are not controlled by any algorithm, or central party’s decision, but are instead 100% dynamically determined by supply and demand within the network.
back to 1. why are you FUDding so hard? you call Vitalik a phony humanitarian. is this PSA you being altruistic? are we supposed to believe you're doing this out of the kindness of your heart?
Jordan Reed
KEK
Camden Jackson
Daily reminder that for the past 2 months this guy has been making these threads.
Alexander Price
you haven't responded to anything. but feel free to believe that you have.
>no central authority will decide the fees
>the stakers will decide the fees
>lol we control 20% of the stake
>lol our advisors control another 10%
>lol we have tons of persuasive authority over our userbase
>lol our advisors include Vitalik fucking Buterin who wields the largest fanboy following in all of crypto
>lol it's not like we only need a small minority of outside users other than us to agree with us to pass any decision we want
>"not controlled by any central party"
i love """"decentralization""""!
Cooper Green
Camden Nguyen
The issue with your question is that it is based on speculation and criteria that nobody knows, nor will know until the information surrounding it is released. Nobody knows what the tx fee is, nobody knows the value needing to be validated to be & is only based right now on speculation.
When individuals, such as yourself, come in and make and argument based on information that nobody knows as well as the declaration an organization doesn't care about small token holders, is a simple baseless and factless claim, when the developers have consistently stated that:
1)The OmiseGo network needs as many validators as possible in order to secure the network (as evidenced by the airdrop) &
2)Staking rewards will be lucrative enough for anyone with any number of tokens to stake
I'm not sure what more you need. However, if and when, the information surrounding staking becomes more clear & the rewards are pisspoor and "1 DOLLAR PER YEAR," by all means, talk shit then.
Henry Hill
How is it not decentralized? The mass of the tokens is not controlled by a single individual but over 600,000 unique addresses who WILL decide the fee. Omise gets 1 "vote" just like everyone else. They have developed & done all the work, so it is fair for them to have 30M tokens in order to generate the revenue for their business.
As for the 10% to advisers, do you have a source? I've been following OMG for a while and have never come across that.
William Ward
Just because nobody ABSOLUTELY knows the exact staking figure amount doesn't mean there isn't plenty of reason to doubt the sufficiency of returns and to criticize the decisions already made.
Everything said thus far leads me to believe this is nothing different than the normal oligarchy that occurs with all other blockchains.
I strongly believe that the only people who are going to enjoy "large enough" staking returns are Omise itself.
ANYTHING beyond that is not actually incentivized. In fact, it is anticompetitive in a hyper competitive payments processing market.
Remember, you're going to be dealing with things like Circle offering (centralized) FREE transactions.
Luke Ross
>Omise gets 1 "vote" just like everyone else.
False. It will be proportional to stake.
Nolan Williams
it's now clear that you're making up shit as you go along.
Juan Smith
How? Prove me fucking wrong you piece of shit asshole.
Camden Wright
Yes, proportional to the amount of OMG you hold. Why would someone with 1 OMG get the same reward as someone with 1000 OMG? The absolute state of OMG fudders. quit phoneposting James.
Benjamin Cruz
The absolute state of people even trying to understand my fucking criticism.
Read it again you fucking moron.
That post has nothing to do with rewards, but is about VOTING in governance decisions.
Dylan Jenkins
As I stated, by all means criticize staking returns when they are announced, but as of now it's 100% speculation.
You keep throwing around the world oligarchy, when no central group controls anything, it is completely permissiveness.
Of course OMG would enjoy the largest staking returns. They've developed the network, secured the partnerships, & deployed the technology. Why would they not be the #1 to benefit?
Anti-competitive? Deploying a technology that will disrupt the fintech sector & paypemt processing platform? Can you expand on this?
As for Circle, I can't speak on this, but it would appear that they are tackling two different markets. How would free transactions make any business sense? Where's the incentive?
Jeremiah Nguyen
You entire argument is that Omise is colluding with Vitalik Buterin to orchestrate a ponzu that would put Madoff to shame. You literally ignore that OMG rewards are based on adoption and network usage, nothing else. The amount initial investors hold has no effect on fee structure.
Connor Howard
Can you provide a source? I can't find anything that indicates that the dictation of fees are proportional to the number of OMG you own.
Julian Smith
>The miglet retreats to his hut to think up better FUD.
Better luck next time James!
James Price
Because there isn't one. He's literally been caught 50 replies deep in this thread and he'll obfuscate and harp on some other FUD point before he sources his bullshit.
Hudson Sullivan
>Can you expand on this?
I will try to explain this as clearly as I can.
Given the fact that
>there are only 200 validating nodes
>Vitalik Buterin is on staff, with all of his egalitarian beliefs
>the payments processing industry is about to be completely shifted (largely, yes, by OMG)
The ONLY party that MUST achieve "good" staking returns is Omise. As long as Omise earns "enough" staking returns to keep functioning in whatever capacity they will have in the future (which, by the way, will likely be diminished because the network will be complete and may have an independent development community to oversee upgrades) then the network is sufficiently secure as to about ~30+% of its stake.
And GIVEN the hyper-competitive nature of payments as an industry, raising fee structures to make OTHER people incentivized to validate is actually a very risky proposition, because there will surely be plenty of other centralized projects offering cheaper fees.
>The more people incentivized enough to validate, the higher the fee will have to be.
That is not good in a future where transaction fees are essentially nonexistent in most cases.
The people who think they're going to get rich off of staking are sorely mistaken.
I'm sure I can find a source, but just think about it.
Why (or even how) can a governance scheme not be based on stake? In PoW it was based on hash power.
If it was "one (coin) one vote" the people with a lot of coins would just divide their coins anyway and multiply their votes.
Justin Collins
Also it looks like Circle is simply a platform that offers free purchases for crypto? I'm not sure how that applies to OMG.
Logan Johnson
Nothing personal, but you are a very unprofessional person and a cancer to the crypto community. This behavior has gone too far @cryptomedicated.
Juan James
I encourage anyone who is tired of this harrasment bullshit to take similar action and send his company a message on twitter
Kevin Hall
oh no! this might disturb me if I was actually that person.
Seriously how fucking retarded do you have to be to believe that your entire coin has precisely one person saying anything against it?
>harrasment
grow the fuck up