OmiseGo OMG Summary: http://boxmining.com/omisego/
OmiseGo is a decentralized exchange and wallet blockchain focused on banking for the unbanked.
0:23 Who is behind Omise
1:35 What is OmiseGo
3:25 Examples of use
5:43 Omise Go (OMG) Token
6:02 Current State of Omise Go
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Time to revisit Omisego Look for $100 before the end of March. $400 a year from now. Micropayment participation is not appreciated yet. In a recent article in Oracle Times, Vitalik Buterin estimates $4 per token, per month in staking income. OMG FOMO is a valid response.
Thanks for the OmiseGo video! Any update on the project? I am understanding that by holding the coin you will be paid like a dividend based on transactions on their network. Also, currently the Exodus wallet has an OmiseGo wallet, just in case new people were wondering. Think this will be big if they can execute on this project and get it out on Mobile phones all through Asia or even the US and Europe at some point.
Can anyone clearly explain the difference between the payment solution OmiseGo is offering, in comparison to let's say TenX? The also claim to serve as a single wallet wherefrom you can store and spend multiple different cryptocurrencies. I don't see the difference between them, and many other altcoins for that reason. Thanks in advance
I saw this post on reddit about OmiseGo and had a bunch of questions: "It's like Proof-of-Work (PoW) mining but without the need for hardware - and if you do bad stuff the network doesn't like, you don't burn expensive electricity without reward like in PoW, instead you lose some of your OMG."
...Doesn't this just mean that the OmiseGo token itself will only be in demand by people who have tried to harm the network (they now need OMG tokens to conduct transactions because their original ones got burned)? And for the people who want to use the Omise platform to transfer money, it seems they would have to buy OmiseGo tokens as stake to make transactions? Who would pay money to do that, especially if the price of the coin goes up?? Venmo is popular because it's free, OmiseGo would be similar to venmo but you have to buy tokens to make transactions, and you have to have these tokens in your account at all times to satisfy the Proof of Stake in order to make transactions? Doesn't make sense to me..
Is OmiseGo a utility token, a platform, a cryptocurrency, or a security that allows you to take ownership in their company?
so how do i transfer money to another country using Omise Go (when its built)? Do I give my fiat currency to Omise PoS and recipient public key. And then they give me some Omise Go token and then they transfer and pay miners in Ethers (?) and recipient takes Omise Go to another PoS and get fiat?
What is the OMG coin actually used for? I mean, what is the coin's function. For example, ether functions within ethereal (gas), but I have no idea after reading the white paper how the OMG coin functions... thanks, Boxmining!
Have you heard of METAL? $MTL is the closest competitor to OMG. They too emphasize on banking the unbanked, however they are focused on the US markets and the cannabis industry. They are essentially a crypto bank account that is fdic insured (only one at the moment), partnerships with 3 US banks, agreements with 140 pot clubs, already in alpha (open beta in few weeks) will be live before end of year. Very similar features to OMG but they offer 5% of the transaction back to both buyer and merchant (called PoPP). With only 200 mill market cap at the moment it has room to grow! https://www.metalpay.com/ https://www.reddit.com/r/MetalPay/
I'm sorry but I'm struggling to understand how buying OMG coins can benefit you, apart from fun speculative trading, if the reason for the existence of this coins hasn't even been confirmed? How will having this OMG coin benefit someone, let's say their project is really successful and people all over the world use Omise to exchange FIAT and even BTC/ETH... what is the OMG coin good for?
Hi Michael thankyou for all you do.
Can you please explain the difference between what OMG is setting out to do and TENX. And do you believe that either one of these two companies will be the dominant long term player?
KRLE2582 thsnk you for asking. I want to know about it as well. I have missed many waves abd with safex currently below 300sat i can catch a big wave though have limited funds and dibt want many coin in pocket with min ROI
you dont by milk from teh corner shop with nuggets of gold... to cluggy and cumbersome... BTC is the Gold... other crypto's are the silver, copper etc... Newer technology also... faster transactions...
Eos is a great coin. But the people behind that company destroying the coin.
Because they put more and more supply in the marketcap. this make the coin automatic drop. I bought eos on 4 dollars. there was only 70million eos coins in circulation in that time period. and look at now over 300million eos coins in circulation. a lot of people lose there money. its sad..
Billy Zaturoski Both are involved in payments but not in the same way. Tenx is focused on the consumer part of the transaction, omg is part of the merchants end of transaction. Both techs could link up well. Tenx has expressed that working together would be awesome.
Thank you again, i really enjoy watching your videos. Compared to many other channels, this one seems to focus on the tech too, not just on shady investment tips from people that don't have a clue about technology. Keep it up! (Subscribed weeks ago and recommended your channel on several occasions!)
Love the Video Michael!!
Could you cover Binance too?
It's a new exchange with an interesting fee system and their own coin (you get 50% fee discount when you pay the fees with the Binance coin (BNB). This should result in BNB rising further and further the bigger the exchange gets).
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