Topic: How Safe Omni Layer is? (Read 1430 times)

I've never had any problems with it. Just seems like a standard disclaimer. "This is life. Who knows what could go wrong? Don't lynch mob us if lightning strikes you in the ass."

Is this the only thread on here related to Omni?

Like I said, we’ve been around a while, although I don’t check bitcointalk as often as I probably should.

So, the software version is 0.0.12.  Omni Core has been around for just under two years now with zero reports of lost, corrupted, etc wallets or coins (0.0.12 came about maybe three weeks ago).  The next version will be 0.2 (yes, I know these are entirely arbitrary), but the developers decided that after this long, we need to bump it a bit to look a bit less alpha-y.  That being said, the developers take their responsibility extremely seriously, and lots of people complain that Omni progress is slow, but it’s slow due to the absurd amount of testing we do on each feature before we activate them (we even release features in the software that aren’t yet activated so that we can continue testing them in a non-consensus-breaking manner before activating the feature dynamically for the installed user base).

I use it daily (on a Mac) - the same builds we provide to everyone else.  I honestly doubt anything I say can sway someone being cautious, because the warning is there and the developers think it should be.  Maybe in the next release it will get removed, but I’d still recommend that people dealing with large amounts of funds be wary and cautious of *any* crypto software out there.  You’re installing software that (in some cases) can hold the vast majority of someone’s wealth.  That should scare the hell out of all of us.

All I can say is this: I am a regular user of the desktop client, and there are (evidently) thousands of others running as well (based on our download counts).  If you prefer, there is always Omniwallet.org (web wallet) that you could use instead (user controlled keys, client-side decryption and signing), or hosted wallets like HolyTransaction.  Obviously I wouldn’t recommend holding your coins at an exchange that supports Omni, but those are the existing options.  The good news is, all wallet control and the vast majority of RPC in the client literally *is* Bitcoin Core, so I trust it as much as I trust Bitcoin Core.

I hope you have a good experience with it.  Let me know what you think if you eventually fire it up.

Cheers,
Craig

Hi Craig,

It`s nice to see someone from the team taking the initiative to answer here. I really appreciate that. I understand that message is just to say do things at your own risk but one thing I don`t understand is that, if Omni is safe, secure and old enough to mature and become a "rock-solid" software, why do you still have a very serious, scary looking message there?

I want to remind everyone that the message says
- This software should be considered as "Alpha Level". not even beta.
- Your everything can be lost due to glitches and bugs
- Don`t use it for significant amounts of BTC

These are pretty bold and scary statements. What I undestand from your message is that software is safe, solid and mature enough to be used for big amounts but the message says the opposite.

So I`d appreciate if you can elaborate the conflict a bit more.

PS: Still haven`t used Omni yet because of that msg.

Howdy - Craig from Omni here.  I forgot that that screen even existed.  We just wanted everyone to understand that everything in this space is experimental and at your own risk.  However, the software behind Omni Core is used by Bitfinex, Tether, Poloniex, Shapeshift, Kraken, Bittrex, BTC-E, Exodus Wallet, Jaxx, HolyTransaction, AmbiSafe, and probably many others I can’t think of right now.

If you have any questions, check out reddit.com/r/romni or hit me up on here.  

The project was originally called Mastercoin and ran the first (and second) decentralized crowd sale.  We’ve been around a long while with rock-solid software.  I hope you enjoy using it.

Craig

I don`t really trust company references anymore. Peer reviews and user experiences are more trust worthy nowadays. That`s why I haven`t tried it yet. But since there is not much info about the safety of it anywhere maybe I`ll put a small amount in a wallet and start from there. Hope more people would write here about their experiences

Well, I guess bitfinex, kraken and polo use it right? I once looked into tether and found the website promised auditing info and did not provide that information.. red flag number one. My guess is the whole thing implodes like a lot of things in crypto but of course that is a separate issue from the wallet. I guess if you trust bitfinex, kraken or polo then it isn't a huge stretch to trust the Omni wallet. If you do try it, post a review or something because there's limited info out there on it as you found out.

After seeing the below screenshot before opening the program, I wanted to check here to see if I should actually go for it?
I`m planing to use it for USDT or maybe for other things too. So is there anyone that had any bad experiences with Omni Layer on QT wallet? Is it safe to use it for high amounts? What are you thoughts?

Thanks