This post was deleted and I was banned from the OMG sub for posting it, so feel free to FUD OMG with this forever. Also now your know why Vansa felt pushed to post a bunch of tweets today (which you’ll note were not liked by anyone in ETH or even people outside the OMG bagholder community). ———
Optimism Outclasses OMG
Let me say at the outset that this is my personal perspective as a longtime holder (since 2017). I have been through it all from the hype bubble through the Spoon, ELEC, and the rise and fall of GO.exchange.
Through the years we have always been encouraged to hold and stay rock as ‘revolutionary technology’ takes time to develop, you see, and Rome wasn’t buidlt in a day.
What Optimism announced yesterday demonstrates the utter incompetence of this team for the first time versus truly threatening competition. Optimism, a team almost half of which are comprised of former OMG developers, announced a formal integration with Coinbase Wallet (confirmed on the CB account) using technology more sophisticated than OMG, with lesser fees than OMG, far more quickly than OMG.
Optimism announced their test net less than a month ago and already has completed the Coinbase Wallet integration. Why did it take OMG months to integrate Tether into Bitfinex? Why has it taken several more months to announce any subsequent integrations?
Could this slow process actually represent a lack of enthusiasm from the integration partners? Have they discovered issues with the network? Maybe Coinbase integrated with Optimism at great speed because they WANTED to (and are not so motivated to do so with OMG).
We’re literally sitting here with absolutely paltry network statistics watching more advanced technologies achieve more prominent integrations more quickly (WITH OUR FORMER RESEARCHERS) while Vansa writes blog posts about CBDCs coming onto Plasma eventually maybe someday.
How can we be expected to believe that? What evidence do we have to maintain this mirage? We had 8 transactions in the last 24 hours. The only thing left are increasingly distant “connections” being drawn by wishful thinkers on Twitter. The recent article that came out has Jun literally saying that he doesn’t care about the performance of the token.
Does this team even give a fuck about us? Is community communications under an NDA too? Why has there been no effort by the team to even address the elephant in the room of the existence of Optimism?
And the worst part is you know what you’re about to get. Some pithy “good points but we’re constantly engaged in blah blah blah” response by the poor moderators forced to converse with us peons on Reddit.
The time to start integrating and building the network is NOW. The time to start acquiring market share and buidling goodwill and reputation is NOW. OMG had better act quickly because it is in dire risk of being leapfrogged.
Jack Bell
Bro I am not gucking reading this long shit However, OMG is old technology and Optimistic and ZK roll ups are the future. They wanted very desperately to be the first L2 so they created their shit without waiting for research to complete on ideal L2 solutions, so now they’re stuck with a first, but shitty solution that couldn’t even capitalize on first moved advantage. The amount of tech debt they have makes it basically impossible to move their architecture over to a different model. They don’t even have anything integrated on mainnet either, so they can’t just “migrate to a 2.0 version” because there’s nothing to migrate as nothing is on boarded Truly sad. Tortoise vs hare in real life
Christian Hill
this is why I come here. your post reads like written from an view of an insider tech expert. approved.
Dominic Johnson
I agree with you. Just observing from the angle of how OMG is treated socially by the ETH crowd you can tell there is a disconnect.
As a bagholder I am fucking pissed watching this happen. Their “integrations” and extremely slow, probably because nobody cares. You see important shit like Optimism prioritized - because people care.
Juan Miller
>What Optimism announced yesterday demonstrates..
Stopped reading there. OMG Network has allowed you to connect / integrate with Coinbase Wallet since main net was released
Imagine taking the time to write this out
Benjamin Ortiz
>connect / integrate These are two entirely different things. OMG has a connection, which anyone can build. Optimism has an integration.
If my post was so retarded why did they ban me for it?
Chase Clark
damnnit i just sold 5 OMG because of that faggot post
Angel Cooper
Ty, I am from the tech, but I only slightly dabble in blockchain, specifically the ETH stuff of course. Still my takes are more on the retarded side, so take any opinions with a grain of salt here I read the rest of your OP, and you basically said the same thing. In theory, if they somehow make an amazing 2.0 version you should be good. Tokens related to scaling are probably going to lead the next hype cycle, like LRC, for example, but OMG is somehow so behind I don’t get it either. Sometimes teams and projects just fall through. It doesn’t help that their ex engineers went and built a competitor product that is btfo’ing most roll ups today. Smart contract compatible optimistic EVM roll up is quite an insane advantage with Optimism. Really, all OMG had to do is make sure it is easy for devs to integrate with it, but they put a million constraints probably hoping that they will become the standard so they can monopolize on that become very sticky. Didn’t pay off lol Deleting criticism is also the #1 tell of a bad team dynamic internally. This sucks, I’m sorry bro. If it were 2 years ago, investing into a L2 ETH solution would seem like a good bet, but sometimes things just fall through
Charles Flores
xDai makes OMG obsolete It's a dog eat dog world out there I'm afraid
Nolan Bennett
i have no faith the the omg team will be able to deliver long term, but i do believe it's worth a nostalgia pump to near ATH. the pump to $9 was a test run.
Wyatt Foster
Should be deleted here too for you being a faggot
Go back
Alexander Ortiz
IF, and that's a huge IF, they are able to lock down the japanese digital yen from MUFA, then this shit will go to the moon. their tech is perfectly fine for simple transactions. smart contracts need better tech.
Hudson Ortiz
Just one thing: OMG is more than a solution for crypto exchanges, but you're way too dumb to follow the bread crumbs for the bigger picture. You're as most crypto guys just a whiney and impatient loser who wants to become rich as quick as possible. And now you're running like a crying baby to biz to get some attention and acknowledgement.
Ayden Robinson
For pure payments, nahmii warosu.org/biz/thread/S23197083 will likely outperform OMG soon. That's one of the first partners of OMG who soon realized that OMG isn't going to be useful anytime soon, then rolled their own.
The existence of Optimism (better decentralized tech, good exchange momentum), Matic (smart contracts support) and other such competitors will not be helpful for them to take the crypto market, but their niche seems to be fintech marketed to traditional companies (onboarding of the first batch of users will be announced this month) so they will also have some adoption.
Dylan Green
>follow the bread crumbs Hey OIO nice of you to chime in here. Instead of posting your next tweet about how OMG and Apple use the same lawncare service, and therefore integration, why don’t you shove your phone up your ass instead?
Landon Williams
> nii > $310 trading volume
Grayson Cook
kek anyone remember that positively seething omg bagholder that made his own sub?
Cameron Johnson
It is a shitcoin right now, no doubt about it. But they do ramp up publicity every once in a while to pump it, and it's clear that they did a lot of work. So there might be an opportunity.
If you take the conference where nahmii will have a talk and run the only scheduled side event:
... something like that could lead to crypto action by observers, or some of the players who also attend the conference could get involved (e.g. CZ).
By the way, they have the HBT token from their original project which emits 16 NII per month as well and had a few $10k volume days recently.
Jackson Rogers
re: nahmii warosu: "centralized but trustless" so it's yet another sidechain nahmii.io/nahmii White Paper v2.0.pdf not saying it's bad, but it doesn't seem great either
Luis Powell
Yes, many things look quite proprietary here, and a lot of obscurity (patent pending also - maybe that's why their architectural descriptions are so poor on details). For the business niche it might be good enough.
Some potential planned innovations: - Foundation model of stakeholder companies to at least slightly decentralize the operator - Settlement periods will be cut to 0 using a novel liquidity borrowing mechanism with suitable incentives - A "data availability oracle", while not running yet, has been built and could somewhat aid the monitoring process - Cheap airdrops on their side-chain could be useful for many applications - Interoperability between blockchains is supposedly plans, but don't expect it any time soon unless they can raise massive additional capital
James Myers
ROFL
trips of OIO
Zachary Green
if the team can actually deliver then this is a based post. question is, can this team actually deliver. not seeing a ton of support or enthusiam from the crypto/ETH community. i won't bet the house on this team. would love to be proven wrong
Robert Mitchell
It was obvious omg is dead a long time ago. At the latest when the idea of zkrollups was understood to be possible in practice. lmao at bagholders writing complicated analyses in 2020. A bit on the slow side are you?
zkrollups is not better than plasma. zkrollups being popularized after plasma does not make it the L2 choice automatically. both technologies have pros and cons.
Nathan Miller
zkrollups are better than plasma in literally everything except proof generation cost (which looks to be a solved problem).
Nathaniel Perry
lol your hilarious, you think Optimism will be the only wallet integrated with CB? It's in a testnet, no mainnet yet too btw. CB is going to integrate multiple L2 wallets, OMG is working on integrating as we speak.
Nolan Green
Why
Carson Young
name one advantage of plasma over zkrollups, except for proof generation cost (off-chain)
