>OMG will reach a new ATH this month
How do I create my own space company to compete with Elon once I make it?
OMG will reach a new ATH this month
Nolan Davis
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Matthew Flores
You can’t compete with Elon because he gets to cuddle with Grimes every night.
Mason Gray
how much OMG to make it?
Jordan Perry
Tell us why you think it’ll make a new ATH user
Landon Allen
Because user, it goes a little something like this
>exchanges accumulate OMG tokens (highest ever volume for last 4 months)
>mainnet fee currently based on % of OMG so OMG price cannot increase too much
>fee will change to % of ETH this week
>once the fees change, OMG token is free to increase
>exchanges pump the token price
>all the OMG they bought for less than $2 they can use to pay 1/3rd ETH chain gas fee
>if OMG is pumped 10x they pay 1/10th the fee cost on top of the 1/3rd rate
>total rate would be 1/30th the normal ETH fee rate in this scenario
>exchanges save 96% of transactions fees for all ETH based tokens including tether and ETH
Nathaniel Davis
Thanks user, had seen that pasta couple of times but still not sure if I should have a make it stack. Just higher volume doesn’t tell shit honestly, it’s obv the CB listing. Any crumbs on which exchanges would be participating?
Also, why this month?
Parker Thompson
apparently Bitfinex is the only exchange to say they'll use OMG for tether so far. How much to make it faggots?
Caleb Cox
Yeah I don’t get the “exchanges have been suppressing the price, will allow it to increase now” rationale if it’s only Bitfinex. But then again, finex and tether are huge - so any breadcrumbs appreciated OP
Blake Hughes
The Coinbase listing happened on 21st May. The volume has been consistently above 100 million per day since March (which is very high for a token with a similar market cap and no use at the time).
Bitfinex definitely are because they are integrating tether with OMG as per the announcements (bitfinex and tether are owned by the same people). I believe other exchanges are also accumulating. Namely Coinbase - they added OMG before the working product even came out. Most of their tokens are ethereum based, and if they added OMG in May, they will have had a good look at the product (as per their token criteria) and probably access to test it as well. If they had that much access and decided to list it, it would make sense for them to take advantage of the potentially massive saving in fees and transaction time.
Not only that, but coinbase deleted a tweet at the end of May saying they were adding support for tether (which was once direct competition of their own failed stablecoin product). If they are adding tether, that’s quite a change in tone from the past. I wonder why tether suddenly seems attractive to coinbase - could the fact that potential 96% savings and faster transactions have something to do with it?
I’m not saying any of this is 100% certain, but the pump in volume really is huge. We already know hat bitfinex will take advantage of the fees and so will want to pump OMG as much as possible. This also reduces supply as bitfinex holds the tokens to pay the fees. If bitfinex can pass 96% savings for all ETH transactions onto users, the extremely competitive world of exchanges will try to catch up - if they aren’t already.
Benjamin Hill
checked, how much to make it OP?