looks like the pump is already over.
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The OMG Thread (OmiseGO)
Bitcoin goes up, so does OMG.
Bitcoin goes down, so does OMG.
Until OMG has a wallet ready to go, or substantial news otherwise, it will be tied hand in hand with bitcoin.
Bitcoin goes down, so does OMG.
Until OMG has a wallet ready to go, or substantial news otherwise, it will be tied hand in hand with bitcoin.
Big news just got announced...OMG up to $11.50 after being around $10 all day.
Quote:Quote:
Omise, a payment gateway and blockchain tech startup from Thailand, has raised yet more funding. This time it’s from Thai financial institution Krungsri Finnovate, a subsidiary of the Bank of Ayudhya.
Omise is used by the likes of McDonald’s in Thailand to facilitate digital purchases through the fast food chain’s website and app. Outside of Thailand, Omise operates in Singapore and Japan.
In previous rounds, the startup has locked in about US$25 million in venture capital and US$25 million in an ICO since launching in 2014. Its market cap post-ICO has already soared to above US$1 billion.
The startup says Krungsri’s is a “series B plus round” but didn’t disclose the amount. It’s a strategic investment that will let the bank make use of some of Omise’s products, including OmiseGo, a suite of blockchain-powered real-time money transfers and payments tools that’s currently still under development.
Krungsri plans to “potentially support the development of our digital products and services such as KMA, Di-wallet, and U-Choose,” Krungsri’s Sam Tanskul says in a company statement.
KMA is Krungsri’s mobile application that allows users to manage their savings accounts, make transfers, pay bills, and use other Krungsri products. The Di Wallet is used for payments through QR codes, for example, in canteens for purchasing food and drinks.Meanwhile, U-Choose is a credit card manager app which summarizes transactions and the latest promotions.
Omise’s payment gateway currently supports card payments (both credit and debit), internet banking, and Alipay.
It’s similar to other regional payment gateways such as 2C2P from Singapore, as well as Midtrans, Doku, and Xendit in Indonesia. It also faces competition from global players such as Stripe.
One of Omise’s strengths, according to the firm, is that its payment platform is white-labeled, which means that end users do not get redirected to a third-party page when making payments.
Clients range from businesses just starting out like startups and SMEs to large-scale enterprises. Typical client segments are quick restaurant services, property management, and insurers, says the firm, with “thousands of merchants” currently using the system.
Omise also plans to bring out a type of bill payments product soon in Thailand, where a merchant can generate a barcode and the customer uses that to present at the payment points in supported stores and pay by cash.
So far, plans to launch in Southeast Asia’s largest economy, Indonesia, have not yet materialized, but that’s “on the horizon,” according to the firm.
Omise actually started as an ecommerce platform in 2013, but its founders Jun Hasegawa and Donnie Harinsut had a hard time looking for a payment provider. So the team decided to create one themselves, from then on focusing on building the payment gateway instead.
Investors in previous rounds include Japanese venture capital firm SBI Investment, Sinar Mas Digital Ventures of Indonesia, Ascend Money of Thailand, Singapore’s Golden Gate Ventures, as well as East Ventures and 500 Startups.
I only have a small portion of my portfolio in crypto. I pulled out my initial investment. I’ve left the profit in and am letting it ride rather than actively trading. If I’d just left my initial stake in LTC all this time I’d have the same profit without any of the work.
Day trading on $10k in ETH volatility can make a few hundred bucks a day, but I think it’s not worth it to be staring at my phone all day or distracted by thinking about what the market is doing all night.
What really interests me is dumping a thousand bucks into something that a year or two later is worth millions. Due to the volatility I think it’s better to not monitor that kind of investment or I’d be tempted to sell out.
Day trading on $10k in ETH volatility can make a few hundred bucks a day, but I think it’s not worth it to be staring at my phone all day or distracted by thinking about what the market is doing all night.
What really interests me is dumping a thousand bucks into something that a year or two later is worth millions. Due to the volatility I think it’s better to not monitor that kind of investment or I’d be tempted to sell out.
I'm with you, Travel. I'm done chasing the pump and dumps. I'm in 3 solid coins (OMG, BTC, Eth) that I'm confident won't crash and burn. Just going to ride it out.
God it feels like I'm shitting on everybody's coins and I hate to say it, because OMG is a solid project and I love it, but...
There are some serious bad flags with OMG and it's not the sure buy it seemed to be a month ago. I don't think it's something you can let sit for years.
This market is so hyped up and so frenetic right now that things are being driven to insane valuations, far far beyond what they're likely to maintain in the future. I'm not sure OMG is worth 1 billion dollars.
There are some serious bad flags with OMG and it's not the sure buy it seemed to be a month ago. I don't think it's something you can let sit for years.
This market is so hyped up and so frenetic right now that things are being driven to insane valuations, far far beyond what they're likely to maintain in the future. I'm not sure OMG is worth 1 billion dollars.
Yeah that’s the problem with crypto. No one is sure. It’s very similar to dot com era. I got screwed out of a third of my life savings by that crash. I’m not going back to that. I could miss out on ICO millions but I’m comfortable so why risk it. I’d rather enjoy each day rather than spend a month or two like a hermit I’m fromt of Laptop all night.
SamB, at least OMG has an use case and a working product already. Most cryptos don't. That has to be worth something.
"SamB, at least OMG has an use case and a working product already. Most cryptos don't. That has to be worth something."
Well, yes. But if that "something" turns out to be 500 million dollars, then you're going to lose half the money you have invested in OMG with its 1 billion dollar marketcap.
Well, yes. But if that "something" turns out to be 500 million dollars, then you're going to lose half the money you have invested in OMG with its 1 billion dollar marketcap.
True, but only if they stop at McDonalds in Thailand. I just don't think they will just rest on their laurels at that point. I am sure they will expand.
And even at 500 mil, I still made money because I got in when it was way less than that.
And even at 500 mil, I still made money because I got in when it was way less than that.
Quote: (10-01-2017 02:31 PM)SamuelBRoberts Wrote:Care to elaborate on the "bad flags"?
God it feels like I'm shitting on everybody's coins and I hate to say it, because OMG is a solid project and I love it, but...
There are some serious bad flags with OMG and it's not the sure buy it seemed to be a month ago. I don't think it's something you can let sit for years.
This market is so hyped up and so frenetic right now that things are being driven to insane valuations, far far beyond what they're likely to maintain in the future. I'm not sure OMG is worth 1 billion dollars.
I do agree that the valuation is very high. This coin is directly linked to the success of OmiseGo as a company, and the earning (fees) that each coin will produce. It also on the success of Ethereum as a network, which also remains to be proven. Competition will also pop up the coming years...
I'm still tempted to buy because I love the setup of the coin and the team, and Vitalik can play a huge factor.
Quote: (10-21-2017 10:48 AM)Dvorak Wrote:
Quote: (10-01-2017 02:31 PM)SamuelBRoberts Wrote:Care to elaborate on the "bad flags"?
God it feels like I'm shitting on everybody's coins and I hate to say it, because OMG is a solid project and I love it, but...
There are some serious bad flags with OMG and it's not the sure buy it seemed to be a month ago. I don't think it's something you can let sit for years.
This market is so hyped up and so frenetic right now that things are being driven to insane valuations, far far beyond what they're likely to maintain in the future. I'm not sure OMG is worth 1 billion dollars.
I do agree that the valuation is very high. This coin is directly linked to the success of OmiseGo as a company, and the earning (fees) that each coin will produce. It also on the success of Ethereum as a network, which also remains to be proven. Competition will also pop up the coming years...
I'm still tempted to buy because I love the setup of the coin and the team, and Vitalik can play a huge factor.
I just went to TradingView and OMG lost 49.01% of its value since I made that post.
Oww...
1.) The estimates for what you can make for holding OMG tokens are goofy as fuck. Anybody who repeats those things uncritically should be absolutely ashamed of themselves.
2.) The product's value was massively overestimated (and still is in my mind). Its integration with Thai McDonalds has made it worth 5 times all the McDonalds in Thailand. That's silly.
3.) The community has this weird idea that Vitalik's status as advisor somehow makes it more likely for a project to succeed. How much is he doing? Do you know? How much of OMG's success is dependent on the technical protocol he's implementing, and how much is dependent on other factors?
I know these aren't popular opinions, but the fact that I called a 50% drawdown should at least give me some credibility here.
OMG has potential....but it’s a victim of it’s own success. And a good example of why the ICO craze hurts legitimate projects as people pump and dump from one new project to another.
Because these projects are operating as actual currencies it’s way too easy for the electronic herd to bounce their money around according to “market” influences like new ICOs, fork hype, bitcoin fluctuations, etc. Projects get massively overvalued and when they fail to deliver everyone moves on. Especially after the deliberate manipulations of insider trading groups.
I’ve finally reached my conclusion after some market analysis. Most coins are essentially he same fucking thing: BLOCKCHAIN
They are for the most part interchangeable. They are certainly inter-tradeable. At this stage their actual differences are so minor it’s laughable to claim any one coin functions THAT differently than another. They can and will eventually. But they’re basically all just starting to crawl. The only real walkers are Bitcoin, ETH, Monero...
It’s obvious that the major issue with ALL BLOCKCHAIN is scalability/transaction limits. The nature of the blockchain forces this limitation. So far there’s been limited success in speeding this up to a point where it could replace VISA or MasterCard.
Both of those are still only actually about 2000TPS. So it doesn’t have to be an insane amount to become viable for point of sale transactions. But that’s what particularly had me interested in OMG. Building on popular fast food chain in a limited market is a great way to gear up and test that kind of technology for broader market implementation in a few years.
It also gives simple working class people, students, etc a REAL way to spend their crypto besides dicking around on exchanges. Getting that kind of adoption would set a trend.
OMG has potential. But yes, it’s been massively overvalued.
I say this after having completely dismissed it after a quick investigation. I read it as “Oh My God” Dogecoin Japanese kawaii bullshit. This was at the time I had stopped seriously researching every new shitcoin and investing small amounts in them because I realized I was feeding a monster.
Because these projects are operating as actual currencies it’s way too easy for the electronic herd to bounce their money around according to “market” influences like new ICOs, fork hype, bitcoin fluctuations, etc. Projects get massively overvalued and when they fail to deliver everyone moves on. Especially after the deliberate manipulations of insider trading groups.
I’ve finally reached my conclusion after some market analysis. Most coins are essentially he same fucking thing: BLOCKCHAIN
They are for the most part interchangeable. They are certainly inter-tradeable. At this stage their actual differences are so minor it’s laughable to claim any one coin functions THAT differently than another. They can and will eventually. But they’re basically all just starting to crawl. The only real walkers are Bitcoin, ETH, Monero...
It’s obvious that the major issue with ALL BLOCKCHAIN is scalability/transaction limits. The nature of the blockchain forces this limitation. So far there’s been limited success in speeding this up to a point where it could replace VISA or MasterCard.
Both of those are still only actually about 2000TPS. So it doesn’t have to be an insane amount to become viable for point of sale transactions. But that’s what particularly had me interested in OMG. Building on popular fast food chain in a limited market is a great way to gear up and test that kind of technology for broader market implementation in a few years.
It also gives simple working class people, students, etc a REAL way to spend their crypto besides dicking around on exchanges. Getting that kind of adoption would set a trend.
OMG has potential. But yes, it’s been massively overvalued.
I say this after having completely dismissed it after a quick investigation. I read it as “Oh My God” Dogecoin Japanese kawaii bullshit. This was at the time I had stopped seriously researching every new shitcoin and investing small amounts in them because I realized I was feeding a monster.
Travel Museums said what I feel, just in a nicer way.
At an 8 million dollar valuation, OMG is a really cool tech with a lot of potential.
At 800 million, it's a monument to human stupidity and greed.
At an 8 million dollar valuation, OMG is a really cool tech with a lot of potential.
At 800 million, it's a monument to human stupidity and greed.
Ok. I'm going to throw my ego to the forum.
I took out a large long position on OMG right before this alt crash (OMGBTC) and am now down about 0.74 BTC and I have enough in the margin account to prevent liquidation no matter how low it goes.
I'm thinking I will just keep it open for a bit longer before deciding to just close and take my losses as I believe that it could at least go back up to 0.0019 BTC/OMG (the price at which I opened).
Any thoughts?
I took out a large long position on OMG right before this alt crash (OMGBTC) and am now down about 0.74 BTC and I have enough in the margin account to prevent liquidation no matter how low it goes.
I'm thinking I will just keep it open for a bit longer before deciding to just close and take my losses as I believe that it could at least go back up to 0.0019 BTC/OMG (the price at which I opened).
Any thoughts?
The Maximally Pathetic Schema: Xs who labor to convince Ys that “I’m not one of those despicable Zs!,” when in fact it is obvious to the meanest intelligence that the Ys see no difference between Xs and Zs, don’t care anyway, and would love to throw both Xs and Zs into a gulag.
- Adrian Vermeule
Quote: (10-21-2017 04:57 PM)Bill Brasky Wrote:
Ok. I'm going to throw my ego to the forum.
I took out a large long position on OMG right before this alt crash (OMGBTC) and am now down about 0.74 BTC and I have enough in the margin account to prevent liquidation no matter how low it goes.
I'm thinking I will just keep it open for a bit longer before deciding to just close and take my losses as I believe that it could at least go back up to 0.0019 BTC/OMG (the price at which I opened).
Any thoughts?
.0019 would be pretty hard. That chart just looks like death, and .0019 is a +50% gain. An over 50% gain for something with OMG's marketcap would take something pretty serious.
You're essentially banking on a lot of money flowing back into alts when BTC settles in, which isn't impossible, but isn't a sure thing.
As I see it we have one of two scenarios coming up within the week:
1.) BTC finishes its rise, this fork crap ends, and people with a lot of money in their pocket start going on a shopping spree. Alt boom.
2.) The fork crap ends and alts fail to have any significant rise. Death for the alt market, either slow or fast, awaits.
.0012 is a moderately significant support level for OMG, so it MIGHT hold there (Though OMG hasn't been holding jack shit lately, so I don't know.) I think odds of a rise are good enough that you shouldn't close your short now, but you should be reasonable about your expectations. You're very likely going to lose money on this, at least priced in BTC, the question is how much.
Quote: (10-21-2017 02:03 PM)SamuelBRoberts Wrote:Yes, probably right. 800 million for a such a small company (without even a working product) is insane. Even if they have a guaranteed massive success at some point (which is still very uncertain) the current price is probably too high.
Travel Museums said what I feel, just in a nicer way.
At an 8 million dollar valuation, OMG is a really cool tech with a lot of potential.
At 800 million, it's a monument to human stupidity and greed.
I'm probably gonna wait a bit till after the fork, if there's a pump in alts and a dump in BTC, I might close my alt positions and put them back into BTC.
Mid/long term, the biggest upside in crypto is institutional money flowing in, which will probably flow mainly to BTC (and maybe ETH). So those coins are really the only buy and hold coins.
I'll reserve alts for short term trades, but I doubt I'll put much time into it going forward. Seems like it's getting harder to earn the quick bucks there as well.
Quote: (10-21-2017 04:57 PM)Bill Brasky Wrote:
Ok. I'm going to throw my ego to the forum.
I took out a large long position on OMG right before this alt crash (OMGBTC) and am now down about 0.74 BTC and I have enough in the margin account to prevent liquidation no matter how low it goes.
I'm thinking I will just keep it open for a bit longer before deciding to just close and take my losses as I believe that it could at least go back up to 0.0019 BTC/OMG (the price at which I opened).
Any thoughts?
OMG is going to release their updated roadmap this week...no reason to sell until you see the timeline. The wallet will be released soon, as well as other news regarding proof of staking. Plus this:
While our team consists of impressive engineers and product experts, we also recognize that the solution we are bringing to market is the first of its kind and extensive testing and updates are needed to ensure stability and security. It is not sensible in terms of go-to-market speed to wait until all three layers are launch ready in order to deploy all three layers at the same time. Thus, we came up with a product deployment plan which will allow us to securely build out the three layers, while continuing to release more and more complex features to the market.
The above is why we decided to test our first and second layers with our longterm partner, Cosmos Network, who are also the creators of Tendermint. This collaboration allows us to market-test our solution very soon in an intermediate scalability environment. It also gives OMG stakers an introduction to our PoS protocol, by beginning to participate in validating transactions. This temporary environment will scale sufficiently to allow OmiseGO to provide support for Omise’s existing customers, while we work towards our end goal: a fully-permissionless and infinitely-scalable public Plasma chain.
I'm definitely waiting for more news before deciding to close or not. I have all the price alerts set as well.
The Maximally Pathetic Schema: Xs who labor to convince Ys that “I’m not one of those despicable Zs!,” when in fact it is obvious to the meanest intelligence that the Ys see no difference between Xs and Zs, don’t care anyway, and would love to throw both Xs and Zs into a gulag.
- Adrian Vermeule
Remember that sell the news is a thing, even for coins in a major downtrend.
They released their updated roadmap: https://blog.omisego.network/omisego-roa...bfca386e25
Notable milestone is Q1 2018 for the wallet and SDK.
Notable milestone is Q1 2018 for the wallet and SDK.
Quote: (10-28-2017 04:36 AM)NewMeta Wrote:
They released their updated roadmap: https://blog.omisego.network/omisego-roa...bfca386e25
Notable milestone is Q1 2018 for the wallet and SDK.
Very disappointing. Was hoping for more.
Closed my position (back to BTC) with a small loss.
Still think they are doing good work, might jump back in if there's a huge dip...
The wallet is nearing launch.
https://twitter.com/JUN_Omise/status/937841630987423744
https://twitter.com/JUN_Omise/status/937841630987423744
Quote:Quote:
#OmiseGO team are really working hard on real product. Especially good progress our SDK. Sample app + sdk works well on my Phone#wallet #sdk #interoperability #plasma #public #chain
Quote: (12-04-2017 08:08 PM)yaku Wrote:
The wallet is nearing launch.
https://twitter.com/JUN_Omise/status/937841630987423744
Quote:Quote:
#OmiseGO team are really working hard on real product. Especially good progress our SDK. Sample app + sdk works well on my Phone
That explains the recent tick up in price.
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