The Official Mastercoin Foundation, Master Protocol & Mastercoin Thread - page 5.

mishax1

legendary

Activity: 2898

Merit: 1017

Quote from: synechist on August 12, 2016, 04:07:52 AM

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?

synechist

legendary

Activity: 1190

Merit: 1000

To commodify ethicality is to ethicise the market

Quote from: dacoinminster on August 11, 2016, 01:15:11 PM

Quote from: udecker on August 11, 2016, 01:07:56 PM

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.)

StarenseN

legendary

Activity: 2478

Merit: 1362

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.

JPage

full member

Activity: 399

Merit: 105

Quote from: dacoinminster on August 11, 2016, 01:15:11 PM

Quote from: udecker on August 11, 2016, 01:07:56 PM

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.

dacoinminster

legendary

Activity: 1260

Merit: 1031

Rational Exuberance

Quote from: udecker on August 11, 2016, 01:07:56 PM

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.

udecker

full member

Activity: 142

Merit: 252

Quote from: Thenoticer on August 11, 2016, 10:53:35 AM

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

Thenoticer

sr. member

Activity: 332

Merit: 250

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

TKeenan

hero member

Activity: 874

Merit: 1000

Quote from: StarenseN on April 30, 2016, 06:59:36 PM

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.

udecker

full member

Activity: 142

Merit: 252

Tether and Bitfinex are separate corporations and enterprises.

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

Craig

DGulari

legendary

Activity: 1386

Merit: 1000

KawBet.com - Anonymous Bitcoin Casino & Sportsbook

Quote from: dacoinminster on August 10, 2016, 12:48:48 PM

Quote from: mishax1 on August 10, 2016, 12:27:26 PM

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.

solid12345

legendary

Activity: 1246

Merit: 1000

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

dacoinminster

legendary

Activity: 1260

Merit: 1031

Rational Exuberance

Quote from: mishax1 on August 10, 2016, 12:27:26 PM

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.

JamesRod

newbie

Activity: 26

Merit: 0

Huge pump, omni is back Shocked

Any good news, dudes?? Shocked

mishax1

legendary

Activity: 2898

Merit: 1017

Quote from: dacoinminster on August 10, 2016, 12:20:24 PM

Quote from: mishax1 on August 10, 2016, 12:16:55 PM

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

TraderTimm

legendary

Activity: 2408

Merit: 1121

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

LOL.

dacoinminster

legendary

Activity: 1260

Merit: 1031

Rational Exuberance

Quote from: mishax1 on August 10, 2016, 12:16:55 PM

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.

mishax1

legendary

Activity: 2898

Merit: 1017

Quote from: dacoinminster on August 10, 2016, 10:30:28 AM

Quote from: Thenoticer on August 10, 2016, 10:07:08 AM

Price is up. Volume is over a quarter of a mil. Something IS going on as volume has been only a few hundred or a few thousand for well over a year.

Have you guys seen the market cap of tether over the past few months? It's really taking off. Also Maidsafe is doing really well. The assets on the Omni layer are huge and getting bigger all the time. Most recently, this: https://www.bitfinex.com/posts/129:

I don't have any inside information, but I think this is what happened:

1) Bitfinex realized they needed a token, and looked around to see what protocol would be best
2) Due to existing exchange infrastructure, it's really easy to add bitcoin-based tokens like Omni, and our system is already well-proven
3) Ethereum-based tokens, let's face it, are a little scary right now to the public, even though I'm sure they are safe if set up correctly
4) So it's either Omni or Counterparty. What would you choose? (I'm restraining myself heavily right now from talking about their history . . .)

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

dacoinminster

legendary

Activity: 1260

Merit: 1031

Rational Exuberance

Quote from: DGulari on August 10, 2016, 11:13:47 AM

Correct me if I am wrong, but the new issue value is $62 million. That makes it the most valuable token ahead of Maidsafe. Just because it is 'debt' rather than 'equity' doesn't reduce the net value of the asset.

We now have:
BFX - $62M
Maidsafe - $42M
Synereo - $20.5M
Tether - $7M
Agoras Tokens - $6M

Clearly, if you have a multimillion dollar debt or equity issue to be made, Omni is the platform that can handle it.

It does appear to be an interesting first to do a 'debt issue'. Typically, debt is issued as bonds. This lays groundwork for a special new kind of crypto-token having new performance characteristics.

All done first here on Omni.

Well, it seems clear that it will trade at some number less than face value, but it's definitely a big issuance.

DGulari

legendary

Activity: 1386

Merit: 1000

KawBet.com - Anonymous Bitcoin Casino & Sportsbook

Quote from: dacoinminster on August 10, 2016, 10:30:28 AM

Quote from: Thenoticer on August 10, 2016, 10:07:08 AM

Price is up. Volume is over a quarter of a mil. Something IS going on as volume has been only a few hundred or a few thousand for well over a year.

Have you guys seen the market cap of tether over the past few months? It's really taking off. Also Maidsafe is doing really well. The assets on the Omni layer are huge and getting bigger all the time. Most recently, this: https://www.bitfinex.com/posts/129:

I don't have any inside information, but I think this is what happened:

1) Bitfinex realized they needed a token, and looked around to see what protocol would be best
2) Due to existing exchange infrastructure, it's really easy to add bitcoin-based tokens like Omni, and our system is already well-proven
3) Ethereum-based tokens, let's face it, are a little scary right now to the public, even though I'm sure they are safe if set up correctly
4) So it's either Omni or Counterparty. What would you choose? (I'm restraining myself heavily right now from talking about their history . . .)

Correct me if I am wrong, but the new issue value is $62 million. That makes it the most valuable token ahead of Maidsafe. Just because it is 'debt' rather than 'equity' doesn't reduce the net value of the asset.

We now have:
BFX - $62M
Maidsafe - $42M
Synereo - $20.5M
Tether - $7M
Agoras Tokens - $6M

Clearly, if you have a multimillion dollar debt or equity issue to be made, Omni is the platform that can handle it.

It does appear to be an interesting first to do a 'debt issue'. Typically, debt is issued as bonds. This lays groundwork for a special new kind of crypto-token having new performance characteristics.

All done first here on Omni.

dacoinminster

legendary

Activity: 1260

Merit: 1031

Rational Exuberance

Quote from: Thenoticer on August 10, 2016, 10:07:08 AM

Price is up. Volume is over a quarter of a mil. Something IS going on as volume has been only a few hundred or a few thousand for well over a year.

Have you guys seen the market cap of tether over the past few months? It's really taking off. Also Maidsafe is doing really well. The assets on the Omni layer are huge and getting bigger all the time. Most recently, this: https://www.bitfinex.com/posts/129:

I don't have any inside information, but I think this is what happened:

1) Bitfinex realized they needed a token, and looked around to see what protocol would be best
2) Due to existing exchange infrastructure, it's really easy to add bitcoin-based tokens like Omni, and our system is already well-proven
3) Ethereum-based tokens, let's face it, are a little scary right now to the public, even though I'm sure they are safe if set up correctly
4) So it's either Omni or Counterparty. What would you choose? (I'm restraining myself heavily right now from talking about their history . . .)

Topic: The Official Mastercoin Foundation, Master Protocol & Mastercoin Thread - page 5. (Read 165237 times)