>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
Other urls found in this thread:
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?
Nicholas Allen
op said that this shit would happen last week already
it didn't happen
fuck this retarded theory
Blake Murphy
I would say 1000 OMG is a good starting point. 3000 is a great stack.
70% of OMG is owned by the top 100 holders, most if not all of which are exchanges (exchanges own multiple addresses each). If just one exchange holds their tokens to pay fees instead of offering them to sell, this will reduce token supply significantly leading to a price increase.
Jeremiah Powell
1k, 3k for lifelong Thai ladyboy slave harem
Hunter Sanders
The fees haven’t changed yet. The COO said it would happen sometime in the next week, and he said that on 5th June. Stop fucking acting like it’s been months already, if you can’t wait two weeks for something in crypto maybe you should head to the casino instead
Jordan Murphy
You sure people don’t know it yet? Also why hold the token if it’s just the fees that change but there is no staking still?
Jace Collins
People don’t know it because the price hasn’t moved since this was revealed in a very lowkey Q&A in 5th June. This has barely been discussed on the OMG reddit even, which is filled with autistic dweeb bag holders. There was 1 thread about it at the time which hit a few comments, probably because it’s hard to understand the mechanism behind the potential price increase. What isn’t hard to understand is this - exchanges can save 90%+ on all ETH fees by simply accumulating OMG, drying up supply and using them to pay fees.
The fees have to be paid in OMG until staking is released. It’s an artificial way of giving the tokens value until staking. But artificial or not, value is value.
Julian Thompson
HOLY FUCKING SHIT 40 transactions in the last 24 hours and it's sitting at ONLY $215m marketcap, OMG is so UNDERVALUED right now
Christopher Kelly
Thanks user, that helps actually. Who’s getting those fees that are paid out in OMG? The team?
Levi Edwards
It’s not a public network yet you retard, they’re still testing different token transfers on it. Check the fees, once it switches to ETH based that is when it will go public with tether/bitfinex
Jacob Thomas
read and checked
Cooper Watson
At the moment the fees are going to be paid to “watchers” which are basically stakers without the staking mechanism. Watchers stake tokens to watch and approve transactions rather than power transactions. The fees are paid to watchers. The OMG team themselves will act as significant watchers I believe. Once the mainnet goes public details of exactly how to become a watcher will be known. I’m not actually planning to become a watcher myself as I think the rise in token value will be substantial enough
Ian Gomez
>It’s not a public network yet
Face it, no one is using it. When do you expect real volume anyway? 1 month from now?
Jaxon Wright
Like I said, it’s not available for use by the public yet. You see the ETH rootchain hash isn’t integrated yet? They are still fucking testing it you moron.
Bitfinex has already confirmed they will be transacting all their tether trades on OMG Network, we already know there will be substantial real volume so your fud is useless I’m afraid.
Sweetie, you can’t even figure out whether a mainnet is live or not, maybe crypto isn’t for you bud, maybe try a lemonade stand instead?
Leo Peterson
>Like I said, it’s not available for use by the public yet.
sure, it has a low amount of transactions because the public mainnet isn't public yet!
>Bitfinex has already confirmed they will be transacting all their tether trades on OMG Network
cope, they only said they will add it as a choice (like 6 other blockchains) when you deposit/withdraw funds to/from bitfinex
Grayson Myers
Ath was like $40 i feel like a little looting dirty nigger at these prices
Nathan James
what is an eth rootchain hash and what does it mean
Blake Robinson
>sure, it has a low amount of transactions because the public mainnet isn’t public yet!
Yes that’s correct, glad you understand the internationally renowned payments provider wants to test their product before goes public
> cope, they only said they will add it as a choice (like 6 other blockchains) when you deposit/withdraw funds to/from bitfinex
No they didn’t. They confirmed all their tether transactions will run through OMG. You don’t understand how tether works? It runs on different block chains, but the most popular one by far (and growing in popularity) is through ETH. All of bitfinex’s tether goes through ETH and will go through OMG as they have confirmed themselves. Bitfinex and tether are owned by the same people, so having bitfinex on side is huge for tether adoption.
Your fud attempts are hilarious I’ll give you that, I hope whatever shitcoin you’re trying to PnD that OMG makes irrelevant moons anyway bro
Luis Stewart
It means the mainnet blockchain is not currently sending its blocks to the ETH main chain. Once that link is established, the blocks created by the OMG child chain will be added to the ETH parent chain for confirmation. The current mainnet is not connected because they are testing it’s ability to produce blocks for various scenarios. Most testing has already been done in the ropstein testnet, they are just completing due diligence as you would expect for an enterprise solution.
William Price
I guess this makes sense if you can rely on coinbase having done their due diligence. Had honestly written this one off but assume they know some stuff
Is it true that the fee structure should happen soon? Where did they say that? Just seems odd that people didn’t notice that if true
Henry Jenkins
>They confirmed all their tether transactions will run through OMG.
You can repeat it as much a you want but it won't make it true. If you want to shill your favorite shitcoin you should at least show a proof of your claims
You know what? Let's pretend all exchanges around the world use the OMG network to transact USDT. Do you know how much you will get per year per token? USDT transfers generate (approximately) $2.43m in fees each month. If you use the OMG network that would be $2.43m/3 = $810k in fees each month. So $810k*12= $9.72m in fees per year. With 100m OMG staked that would give you a return of slightly less than $0.1 a year, for a token.
ethgasstation.info
>b-but staking is not that important, exchanges will still buy OMG to pay less fees
You don't know that. You are assuming that the spike in volume means that
1) the volume is legit whereas the top exchange for OMG are BKEX, DragonEX, Bione, Sistemkoin (pic related is what the volume on binance looks like)
2) exchanges are buying OMG tokens to use it, and the volume surge on Binance in May isn't speculators trading the pump. You have absolutely no proof that exchanges are willing to risk buying OMG. If you want to show me that the exchanges wallets are getting bigger it could also be because people have been moving their OMG to exchanges to sell the pump.
OMG is NOT going to reach ATH this month let alone this year.
Also the fact that you think 3k is a "great stack"
just means that you are a deluded moonboy (and a poorfag) emotionally attached to your bag.
Dylan Peterson
Anyway we will be fixed by the end of the month. If OMG doesn't reach $2 (not even 10% of its ATH) you will never post again on this board, okay?
Owen Roberts
Coinbase = liquidity event for underwater VC bags