OmiseGo

[jamesdean35]

Cryptocurrency enthusiasts around the world have been showing a lot of love for OmiseGo lately. This may have something to do with how the token is abbreviated to OMG, which is fun. OmiseGO is an interesting, albeit ambitious project that aims to bank the unbanked by using Ethereum-based financial technology. Now is as good a time as any to delve deeper into this project.


OmiseGO is not the only project seeking to bank the unbanked using cryptocurrency technology. A lot of startups have been doing the exact same thing, including some of the recent successful cryptocurrency ICO projects. There will be fierce competition in this particular industry, which is both good and bad at the same time. It puts a lot of pressure on all teams working toward this goal, yet very few if any of them may actually succeed. Whether or not OmiseGO will do so remains to be seen.

The project itself is set up in a rather interesting way. OmiseGO uses public Ethereum-based financial technology so it can be used in traditional digital wallets. The team aims to enable real-time P2P value exchanges and payment services. All of this will be done on a global scale, rather than through localized efforts. Furthermore, the project will focus on both fiat currencies and decentralized currencies such as Bitcoin, Ethereum, and others.

Bringing financial inclusion to the unbanked population is not easy. This is not due to a shortage of people, as there are nearly 2 billion unbanked individuals on the planet today. In most cases, that situation arose from existing problems such as individuals lacking access to birth certificates or an income. However, not everyone wishes to be included in the financial system either. A lot of people value the concept of living off the grid and not relying on global financial services.

There is also a fundamental problem in the traditional financial world. Not only are services somewhat subject to privileges for the middle class, there is also a severe lack of communication and coordination between service providers. According to the OmiseGO team, using a decentralized exchange on a public blockchain may alleviate a lot of those concerns. In their mind, anyone should be able to access any type of financial transaction in a decentralized and affordable manner. Its entire ecosystem will also remain hooked into the Ethereum mainnet.

In addition, there is also an OmiseGo white label wallet SDK to be taken advantage of. This project should allow for convenient integration of payment solutions on the network in the future. Digital wallets have slowly been gaining traction all over the world, and this project is looking to capitalize on that momentum. It will also create new opportunities for wallet service providers to focus on exchanging decentralized currencies and fiat money through its network.

The popularity of OmiseGo is currently on the rise. Although it is possible this is merely the result of someone artificially pumping the OMG price, the token sees a fair amount of trading volume. Right now, one OMG is valued at $3.03, which is quite a high value considering there are nearly 100 million tokens in circulation. There are over 140 million tokens in total. It is an intriguing project to keep an eye on, although one should never be fooled by initial success.

when i read you i realised that i have to sell my house and buy omg.i think i ll do it:D

[Dazedconfused11]

I think this is a winning coin. I just gotta coop some before it blows up and folks are all over it I don't quite understand the distribution but I think their dev team alone is worth betting on.

[lofegs]

I think this is a winning coin. I just gotta coop some before it blows up and folks are all over it I don't quite understand the distribution but I think their dev team alone is worth betting on.

Lots of factors for being optimistic about OmiseGO. Time will tell though
So far it's going good

[toonwer]

Already have some omg. But how do you think its not too late to invest?

[iCoinWatch]

This team is absolutely brilliant. They raised $25 million, but guess when they raised it. Right before the huge sell off in ETH.

Giving out x amount of OMG isn't going to make up for the amount of money you're going to lose with ETH. Even more so when people dump the free OMG.

[FutureC0in]

Already have some omg. But how do you think its not too late to invest?

If your investment horizon is medium term, this should give you better profit.

[facenew111]

This team is absolutely brilliant. They raised $25 million, but guess when they raised it. Right before the huge sell off in ETH.

Giving out x amount of OMG isn't going to make up for the amount of money you're going to lose with ETH. Even more so when people dump the free OMG.

you said like omg is scam coin.  I accept that they do not have any product right now. I still wonder why price up 500%

[krizniq]

can somebody give me a hand about how wallet for it is working?
i do have myetherwallet but i don't see any omg there... or i just sent it to eth wallet? or ...?

thanks

[iCoinWatch]

Already have some omg. But how do you think its not too late to invest?

If your investment horizon is medium term, this should give you better profit.

But you'll lose a lot more money from the ETH price dropping. All their doing is trying to unload their ETH, last time I did the math you'll be gaining 28 cents for every ETH you own.

So they can unload 25 million worth of ETH.

[dennyd999]

can somebody give me a hand about how wallet for it is working?
i do have myetherwallet but i don't see any omg there... or i just sent it to eth wallet? or ...?

thanks

If you bought some OMG in exchange, you can send it directly to your ETH adress.


Using myetherwallet is good idea

[krizniq]

yes i did..

and how then will be clear that from ETH wallet will be sent OMG back to exchange?
I'm  not yet familiar with this technology as I'm oldfashioned bitcoiner

Thanks!

[atulvatsa]

OmiseGo (OMG) is now available at CoinSwitch. Please visit: https://www.coinswitch.co/exchange/btc/omg/0.1 to buy OMG.

[dennyd999]

yes i did..

and how then will be clear that from ETH wallet will be sent OMG back to exchange?
I'm  not yet familiar with this technology as I'm oldfashioned bitcoiner

Thanks!

When sending from myetherwallet it will give you an option to send OMG (you will see it) nothing of extraordinary dificulties. To send OMG you need ETH on your balance. Depending on how much OMG you need to send..

 if you do not have some ETH it is now good time to buy it, because Bitstamp (largest exchange will add it very soon)

[krizniq]

yes i did..

and how then will be clear that from ETH wallet will be sent OMG back to exchange?
I'm  not yet familiar with this technology as I'm oldfashioned bitcoiner

Thanks!

When sending from myetherwallet it will give you an option to send OMG (you will see it) nothing of extraordinary dificulties. To send OMG you need ETH on your balance. Depending on how much OMG you need to send..

 if you do not have some ETH it is now good time to buy it, because Bitstamp (largest exchange will add it very soon)

bit confused, so I have to have ETH in that wallet as well with OMG tokens? how much? 0.1?
means I have to buy ETH sent them to that wallet and then sent OMG there?

sorry to bother

[dennyd999]

yes i did..

and how then will be clear that from ETH wallet will be sent OMG back to exchange?
I'm  not yet familiar with this technology as I'm oldfashioned bitcoiner

Thanks!

When sending from myetherwallet it will give you an option to send OMG (you will see it) nothing of extraordinary dificulties. To send OMG you need ETH on your balance. Depending on how much OMG you need to send..

 if you do not have some ETH it is now good time to buy it, because Bitstamp (largest exchange will add it very soon)

bit confused, so I have to have ETH in that wallet as well with OMG tokens? how much? 0.1?
means I have to buy ETH sent them to that wallet and then sent OMG there?

sorry to bother

You can buy OMG and keep them in your wallet, but if you want to send them from wallet. Yes you need ETH to pay for transaction.

I think 0.1 will be enough but you better to check when you will have OMG on your wallet, how much will be transaction cost. Because it depends on how much you send.

[krizniq]

yes i did..

and how then will be clear that from ETH wallet will be sent OMG back to exchange?
I'm  not yet familiar with this technology as I'm oldfashioned bitcoiner

Thanks!

When sending from myetherwallet it will give you an option to send OMG (you will see it) nothing of extraordinary dificulties. To send OMG you need ETH on your balance. Depending on how much OMG you need to send..

 if you do not have some ETH it is now good time to buy it, because Bitstamp (largest exchange will add it very soon)

bit confused, so I have to have ETH in that wallet as well with OMG tokens? how much? 0.1?
means I have to buy ETH sent them to that wallet and then sent OMG there?

sorry to bother

You can buy OMG and keep them in your wallet, but if you want to send them from wallet. Yes you need ETH to pay for transaction.

I think 0.1 will be enough but you better to check when you will have OMG on your wallet, how much will be transaction cost. Because it depends on how much you send.

got it, thanks mate!

[RonMank]

Vitalik will push it to 10 Dollars

[newcoin01]

What a great day for OmiseGO
Marketcap has gone to the MOON, and brought lots of attention to the project

[dennyd999]

Vitalik will push it to 10 Dollars

True. Today at Tokyo meetup we was witnessing how OmiseGo will be the first ETH token in Plasma project.

Operated on PoS and integrated in Ethereum mainnet it would be possible to send potentialy billions transaction per seconds.
Including Omise offices in Pacific Asia (today opened new in Singapore) it is very promising indeed. Hopefully in the middle of 2018 I could send money from Zurich to Tokyo using OMG office.


"Plasma is a proposed framework for incentivized and enforced execution of smart contracts which is scalable to a significant amount of state updates per second (potentially billions) enabling the blockchain to be able to represent a significant amount of decentralized financial applications worldwide. These smart contracts are incentivized to continue operation autonomously via network transaction fees, which is ultimately reliant upon the underlying blockchain (e.g. Ethereum) to enforce transactional state transitions."

[SSend3r]

Vitalik will push it to 10 Dollars

I think over 15$ to kill ETC...