why u shouldnt buy XRP, new investors please read this
1. ripple has 37billion of tokens in supply, biggest supply in crypto market (XRP = 37B, vs BTC 21M)
2. over 85% of those tokens are held by Ripple, their main company/founders
3. currently it's been hovering from around 18cents to 32 cents range, with only 15% in circulation. it's struggling to climb even with only 15% of the token in circulation
4. it's used for transfer of value, so price stability is a criteria (designed to replace old SWIFT system, used to remit money across border) PRICE STABILITY means it cannot swing too much or gain/lose too much.
global currencies are "managed" by central banks to move maximum of 2% daily. you cannot have a remittance utility token swing more than range practically if not it will render useless.
5. why it shouldnt be worth that much ? if u could develop the system for USD 1billion, why u want to pay USD 1,000 billion for it ? XRP 1 token = $100 ??
6. whatever banks creates only deflates in value. it's a freaking banker token. i've traded this coin many many times d. whenever they release good news, it hits resistance, next thing somebody dumps hundred of millions worth of tokens and it slowly dies to the bottom range after that. new investor lose 40%, bankers win 40%. i win 30% too.
7. the founders have super huge amount of tokens. whenever they feel they want a new yacht or mansion, dump the shit on u. remember only very little tokens have been release and it's struggling for the whole year for this range.
OMG at the moment is a bit slow in movement due to China banning crypto. cuz lots of chinese bought them cuz they already working with Alipay in Thailand.
Next year with wallet release and staking, price should be at least triple or 5 times as of now.
btw, OMG will be the few crypto gems that produces disruptive products with massive collaboration from Thailand, Japan. the first few which can produce real cashflow and more and more collaboration as it matures.......
palm beach estimates OMG can go up to $700 (by chewing up only 5% of global market share of transfer of value which goes up to a few trillions), so it's potential is very massive
dunt forget that this company is already running 4years and crypto is just their next stepping stone to create a platform which can be scaled up to something bigger than VISA and much much more competitive, cheaper, faster, safer than other products out there
QUOTE(AllnGap @ Nov 15 2017, 10:39 AM)
they are tapping into markets worth trillions of USD. making it open source means whatever size company can use it, making it mother of all value transfer system. Alipay, WeChat pay, Samsung Pay, Apple Pay all heading towards one direction, do whatever traditional banking cannot do.........
QUOTE(AllnGap @ Nov 16 2017, 08:15 AM)
current OMISE (parent company clients and processing amount )
OMG ICO from 25mil USD to previous high near to 1Billion USD. Of all fintech companies they are the closest to the real product with a large database of clients ready. thus the only few ones which generates real cashflow in crypto world. Why ? because their parent company already 4years old with offices in Japan, Thailand, Singapore, Indonesia. China tourist can use Alipay in Thailand and is processed by Omise And they used up 70% of their resources on manpower, only allocate very little for marketing. (they are no the hyped kind of company) btw, a lot of people do not know that Omise actually supported Ethereum around 2015 by giving them seed money, thats why Vitalik is so bro with OMG. if next time whatever new ICO launch on Ethereum powered by OMG white label wallet, u can imagine every month how many clients they keep on adding and adding.
OMG is going to make another DEX and ready next year....all the fees runs on OMG tokens....... OMG and ethereum foundation is like good bros.......OMG has setup another fund for good start up, they could link and capture new technology which will help them to grow or evolve.
Vitalik together with OMG ppl meeting Thailand Ministry of Finance. a lot of company put vitalik's influence, but how many that Vitalik really goes in to support ??
after digging all the information i understand what that Jun Hasegawa (CEO) was doing. he keeps using that japanese chess philosophy, very crucial for Fintech. plant the seeds at strategic place (ETH foundation), wrap their enemies until they are immobilized.
thats why they dunt care about OMG token price so much, but keeps on focusing and the products and expanding clients side. go very low profile.....plant seed all over the place.......give wallet codes to developers to play with (next time all these developers become OMG clients)
when their wallet and staking ready, u will see how powerful it can go......everyday add new clients and staking rewards keeps increase, and price will move much faster. OMG is a swiss army knife version of payment processor and wallet.
Paypal only do fiat, OMG does all. OMG is the next thing bigger than Paypal.
QUOTE(AllnGap @ Nov 17 2017, 07:40 AM)
this is example of how successful wallet systems in China.
OMG is paving the way for next generation payment systems which can do more than just fiat.
QUOTE(AllnGap @ Nov 17 2017, 07:01 PM)
OMISE's projected earnings.
anyway, a lot of people totally missed OMG and Ethereum foundation relationship altogether. Plus the surging chinese tourist to Thailand as OMISE is the payment company for Alipay. Plus OMISE is also in Japan, Singapore and Indonesia. this thing will keep on growing non stop once it goes online. OMISE has never release their actual volume and clients. once you add all their corporations on the blockchain.....
btw, this is just fiat estimates, the wallet can do any forms of payments and any medium. if your country bans crypto, just switch to fiat, if country bans BTC, just switch to ethereum.
Brader, you seriously got to calm your t*ts man.
We do know that you're heavy on OMG hence you don't have to be creating a "FOMO" atmosphere man. Well OMG may have the potential go up higher (never said its a bad project) but the way how you're promoting them, just isn't ethical. Clearly a moral hazard/ethical issue could be pinpointed.
Pls dont FOMO the newbies on this thread especially those who are silent readers to be taken up fully by your PRO-OMG post.
Constructive feedback/discussions is definitely appreciated but FOMO-ing around is something that should be left out of the doors prior to posting here.
Just my 2cents and keep doing your thing
This post has been edited by 1malaysiajib: Nov 18 2017, 03:43 AM
On the other hand, was researching as to why DASH shot up and apparently it was due to some company known as PALM Beach Confidential who gave out a buy singnal.
In Fintech, they need serious connections to make it big. OMG CEO dunt bother about their token prices at the moment, because once their product is ready, it will get enormous adaption from corporation side.
look at who is backing their company. this thing gonna be the next thing bigger than Paypal. another news. Tencent > Facebook d. both the biggest company in China, Alibaba and Tencent (WeChat) has pay system integrated. (Alipay & WeChat pay)
KUALA LUMPUR: The central bank has commenced work on a regulatory structure for digital currencies which will stem any emerging risk of terrorism financing.
Bank Negara Malaysia governor Tan Sri Muhammad Ibrahim said starting 2018, entities converting crypto currencies into fiat money currencies will be regulated.
The Anti-Money Laundering, Anti-Terrorism Financing ad Proceeds of Unlawful Activities Act 2001 will govern those converting crypto currencies into cash.
"This is to prevent the abuse of the system for criminal and unlawful activities and ensuring the stability and integrity of the financial system," he said at the Third Counter-terrorism Financing Summit 2017.
BNM is also finalising the details of a new requirement for the banking and money services business sector to report remittances in high risk areas.
Muhammad said digital currencies mark the beginning of a new era in the financial sector and its role of the financial sector as a bulwark against terrorists' financing becomes more critical.
He suggested a three-pronged defence strategy within the financial system – capitalising on technology, promoting 'clever partnership' between the authorities and industry and closer international cooperation.
The adoption of artificial intelligence, machine learning and big data technology are imperative tools as suspicious transactions become more complex and harder to detect.
Regulators cannot be oblivious to these developments.
"We need to prepare ourselves as digital currencies becomes the new norm, according to many pundits."
Early 2017, BNM facilitated information sharing platform between law enforcement agencies and selected financial institutions to swiftly and effectively mitigate risks and respond to threats.
The four-day summit is being jointly hosted with the Australian Transaction Reports and Analysis Centre (AUSTRAC) and Pusat Pelaporan dan Analisis Transaksi Keuangan (PPATK) Indonesia.
conspiracy theory if Satoshi Nakamoto is a group of people develop bitcoin and they have a gentlemen agreement that they can only sell bitcoin when it reach 10,000 USD, rumour said they have 1 million bitcoins, then the market will crash.
Lel, theres tons of consipracy theories all over the net and the world bro.
That's like me coming up and making a story and saying that the true founder of Bitcoin is actually Najib.
Doesn't make sense right ?
Anyway, just took some profit on ETH and I'm happy to see it finally go up after hovering around the 300plus band!
1) let's say I have 1 BTC in my Ledger Nano S, and I plan to sell 0.2 BTC on exchange. So I send 0.2 BTC to say, Luno. Where will the remaining 0.8 BTC go? Will it stay in the same existing address in hardware wallet or will it store in another address in hardware wallet? Stays there the balance 0.8BTC
2) I am currently using electrum mobile wallet to store my bitcoin. If I send all bitcoin from Electrum to my address in Ledger Nano S, will I see Bitcoin Gold and Bitcoin Diamond in my Ledger Nano wallet?
I don't know if ledger supports Electrum so I cant answer you
This post has been edited by 1malaysiajib: Nov 28 2017, 08:35 PM
So thats mean there is no change address? Only 0.2 BTC is used in this transaction?
Its just like a bank account, presuming you have RM100 in your CIMB account and you decide to transfer RM10 to your HSBC account, there would be a balance of RM90 in your CIMB account
Cuz for Bitcoin wallet, all the amount is used up in that address like if u have 100 BTC in that address and only send 10 BTC to other people, the remaining 90 BTC will go to other address. So it looks like Ledger Nano S doesn't work like this
Bro, i think you've got things mixed up man.
In any bitcoin wallet, let's say if you have a ledger wallet and your BTC address in AAAAAAAAAAA in which you own 10BTC. Now, lets say you're sending 1BTC to someone else's wallet and their address is BBBBBB, there would be a balance of 9BTC in your AAAAA address presuming there's 0 transaction cost here.
Oh. So this is easier to track for us. Cuz I swear for my electrum wallet I have been using, if I send any amount of BTC to someone else, my current address will become 0 and the remaining goes to a new `change` address.
Now i get your issue, in regards to Electrum, i can't help you as i dont own any electrum nor have i bothered checking their wallet.
But if you're talking about other coins such as BTC, ETH, NEO, OMG etc to be stored on your ledger wallet, then the example that i provided previously portrays how things work.