The Official Mastercoin Foundation, Master Protocol & Mastercoin Thread

[dacoinminster]

4)  Since Bitfinex owns Tether (right?) which runs on Omni , it's easy to choose Omni as the token issuer

The USE tether. They don't own it.

[TraderTimm]

All you need now is a few more exchanges to go essentially bankrupt, and then you'll be set!


LOL.

[mishax1]

4)  Since Bitfinex owns Tether (right?) which runs on Omni , it's easy to choose Omni as the token issuer

The USE tether. They don't own it.

So if you could elaborate on this (not the fiat/btc withdraw part but the ownership part), pleas do - https://www.reddit.com/r/Bitcoin/comments/4wwbcn/warning_tether_usdt_poloniex_bitfinex_hack/?st=irnmswfu&sh=19e02c44

[JamesRod]

Huge pump, omni is back   Any good news, dudes??   

[dacoinminster]

So if you could elaborate on this (not the fiat/btc withdraw part but the ownership part), pleas do - https://www.reddit.com/r/Bitcoin/comments/4wwbcn/warning_tether_usdt_poloniex_bitfinex_hack/?st=irnmswfu&sh=19e02c44

Hmmm. I hadn't heard Tether had been sold to bitfinex. My suspicion/hope is that they bitfinex owns Tether but they are financially separate. Will be interesting to see what happens.

[solid12345]

What is this talk of "Bitcoin insurance" I see spouted in the trollbox about Omni?

I admit I had forgotten about Mastercoin and saw a blurb about Omni a month ago about the next possible "100x", I looked into it and definitely saw it's not dead and progress is being made, albeit quietly. Put it on my list of "to buy later" but apparently later came sooner than I thought 

[DGulari]

So if you could elaborate on this (not the fiat/btc withdraw part but the ownership part), pleas do - https://www.reddit.com/r/Bitcoin/comments/4wwbcn/warning_tether_usdt_poloniex_bitfinex_hack/?st=irnmswfu&sh=19e02c44

Hmmm. I hadn't heard Tether had been sold to bitfinex. My suspicion/hope is that they bitfinex owns Tether but they are financially separate. Will be interesting to see what happens.

Tether brags about being 'fully transparent'.  Bullshit.  Collins Rectum gave control over to Bitfinex?  They hid that pretty well.  Now there is giant question over whether those $7million Tether will ever come home.  What a joke.  The deposits should have been held in a Trust having no other liability.  Now, the Bitfinex theft liability will destroy Tether. 

Its all falling apart now.  Would you know at the heart of it is that same Collins Rector guy whose been at the core of bullshit time, and time again. 

Craig should comment.  Tether should have been kept independent.  Now, 100% transparent looks like more total bullshit. 

[udecker]

Tether and Bitfinex are separate corporations and enterprises.

Tether and the tether reserve are not affected by the recent security breach at Bitfinex.

Craig

[TKeenan]

He's certainly too busy sipping a cocktail with a jew crew on the beach with our money.

You are a piece of garbage.  JR did nothing but great things for all Mastercoin/Omni.  The guy is about the nicest guy I've met in crypto.  Ron might be a piece of work, but JR is straight up. 

[Thenoticer]

It looks like price rise might have been related to the bitfinex token bfx. Can anyone explain if that is the case?
Ie: did omni need to be bought for creation of bfx? How does omni coin factor into projects like these? As opposed to just the omni protocol

[udecker]

It looks like price rise might have been related to the bitfinex token bfx. Can anyone explain if that is the case?
Ie: did omni need to be bought for creation of bfx? How does omni coin factor into projects like these? As opposed to just the omni protocol

I think the timing corellates well, as the announcements made by Bitfinex stemmed widespread community interest. 

The really good news is people are realizing some of the capabilities of Omni - primarily the ability to work with advanced bond-style functionality but also the decentralized exchange capability.  Once people dive in and see how Omni functions, they are all surprised that we’ve been quietly adding this type of functionality to the Bitcoin blockchain.

Omni did not need to be bought for the creation of BFX (which actually hasn’t happened yet, we’re still working out the details and feature needs before we actually issue the token), as OMNI is not required for asset issuance, but OMNI holders will be able to receive fees from usage of the decentralized exchange.  OMNI tokens are also consumed when an issuer uses a proportional distribution transaction (we call it “Send to Owners”).  Something similar to this will be used by Bitfinex when repaying customers / holders of BFX.

Craig

[dacoinminster]

I think the timing corellates well, as the announcements made by Bitfinex stemmed widespread community interest. 

The really good news is people are realizing some of the capabilities of Omni - primarily the ability to work with advanced bond-style functionality but also the decentralized exchange capability.  Once people dive in and see how Omni functions, they are all surprised that we’ve been quietly adding this type of functionality to the Bitcoin blockchain.

Omni did not need to be bought for the creation of BFX (which actually hasn’t happened yet, we’re still working out the details and feature needs before we actually issue the token), as OMNI is not required for asset issuance, but OMNI holders will be able to receive fees from usage of the decentralized exchange.  OMNI tokens are also consumed when an issuer uses a proportional distribution transaction (we call it “Send to Owners”).  Something similar to this will be used by Bitfinex when repaying customers / holders of BFX.

Craig

I can't tell you how excited I will be to see distributed exchange between Omni and the other tokens made available in OmniWallet. I might just soil myself.

[JPage]

I think the timing corellates well, as the announcements made by Bitfinex stemmed widespread community interest. 

The really good news is people are realizing some of the capabilities of Omni - primarily the ability to work with advanced bond-style functionality but also the decentralized exchange capability.  Once people dive in and see how Omni functions, they are all surprised that we’ve been quietly adding this type of functionality to the Bitcoin blockchain.

Omni did not need to be bought for the creation of BFX (which actually hasn’t happened yet, we’re still working out the details and feature needs before we actually issue the token), as OMNI is not required for asset issuance, but OMNI holders will be able to receive fees from usage of the decentralized exchange.  OMNI tokens are also consumed when an issuer uses a proportional distribution transaction (we call it “Send to Owners”).  Something similar to this will be used by Bitfinex when repaying customers / holders of BFX.

Craig

I can't tell you how excited I will be to see distributed exchange between Omni and the other tokens made available in OmniWallet. I might just soil myself.

Not so fast.  Even if they get the functionality 100% perfect, there is still the matter of liquidity.  Somehow they will have to prime the pump and get some initial liquidity on both sides of the market to make it all work.  Not sure how they will do that.  Bots probably. 

[StarenseN]

So volume just picked up last days and Omni just did -71% from 24h's high. I can't wrap my head at how so constantly (over)sold it is. This is truly unbelievable and restless.

[synechist]

I think the timing corellates well, as the announcements made by Bitfinex stemmed widespread community interest.  

The really good news is people are realizing some of the capabilities of Omni - primarily the ability to work with advanced bond-style functionality but also the decentralized exchange capability.  Once people dive in and see how Omni functions, they are all surprised that we’ve been quietly adding this type of functionality to the Bitcoin blockchain.

Omni did not need to be bought for the creation of BFX (which actually hasn’t happened yet, we’re still working out the details and feature needs before we actually issue the token), as OMNI is not required for asset issuance, but OMNI holders will be able to receive fees from usage of the decentralized exchange.  OMNI tokens are also consumed when an issuer uses a proportional distribution transaction (we call it “Send to Owners”).  Something similar to this will be used by Bitfinex when repaying customers / holders of BFX.

Craig

I can't tell you how excited I will be to see distributed exchange between Omni and the other tokens made available in OmniWallet. I might just soil myself.

Assuming usage (due to Bitfinex) begins in the next month, how long will it have been between the implementation of OmniWallet/OmniDex and (the expected more widespread) usage?

(I'm asking because my project also has a decentralised exchange - which doesn't require central token issuance or centralised deposits.)

[mishax1]

Assuming usage (due to Bitfinex) begins in the next month, how long will it have been between the implementation of OmniWallet/OmniDex and (the expected more widespread) usage?

(I'm asking because my project also has a decentralised exchange - which doesn't require central token issuance or centralised deposits.)

Centralized deposits ? where?

[dexX7]

Trading tokens for tokens on the distributed exchange via Omni Wallet is basically around there corner, and currently in the works.

[synechist]

Trading tokens for tokens on the distributed exchange via Omni Wallet is basically around there corner, and currently in the works.

Oh wow. Cool. I thought It'd been done a while back.

[synechist]

Assuming usage (due to Bitfinex) begins in the next month, how long will it have been between the implementation of OmniWallet/OmniDex and (the expected more widespread) usage?

(I'm asking because my project also has a decentralised exchange - which doesn't require central token issuance or centralised deposits.)

Centralized deposits ? where?

Take my use of "or" as an exclusive disjunction. ;-)

[Bagatell]

Anyone know how long the Bittrex Omni wallet has been down?