Is OMG going to be the official Token for ETH?

>Dear sirs, Bitcoin

Keked

He's the opposite of an American, he hasn't eaten so far this year.

They were just joking. here is a more normal pic

twitter.com/JUN_Omise/status/860067259619749888

Vitalik is packin heat.

Why are skinny skeleton strange looking dudes alway in the big dick club

tfw when richer and bigger dick than me

because all of the fat that's being stored around your pubic bone is taking away from your true dick size.

The Omise "sidechain" will complement Ethereum by processing transactions for the network, so that Ethereum can scale. They are symbiotic.

So omg $20 by tomorrow?

OMG $3.50 by tomorrow.

Just sold earlier to buy neo

Looking at the chart, I see a bull flag to $3.74..them drops to $3.56, slow bleed to $3.30 big drop to $3.03

I hope so. I am ready for the next moon mission.

>muh charts

FUCK retards like you, literally kill yourself.

I got 1k of these babies and we're going straight to $100$ by the end of the year.

you mean $4.50 ya big dumb doy doy!

it's a cup and handle ya big dumb doy doy!

But the volume is low

the breakout will change that

>This is the face we have invested thousands of dollars to

That's the beauty of money, it doesn't matter who or what you are; green is green.

Handicapping possibilities of the "news":

10% McDonalds
50% Airdrop
05% Alpha of the exchange is ready
05% Alpha of the blockchain is ready
01% Vitalik is joining OMG full-time
29% Something boring

what did they mean by this

also not a cup and handle, the right side of the handle didn't close below the left

get fukt

I have a lot of omg. I feel like sleeping for a month and seeing where it's at. When would any movement be expected short term?

i hope you're merely pretending to be retarded

SO this breakout, are people just going to magically appear and start market buying

>01% Vitalik is joining OMG full-time

What would I give...

The first signal of whale activity is a sharp increase in the traded volume, typically volumes will spike as much as 10x the normally traded amounts as the whale rapidly floods the market with orders to push the price in a certain direction. Typically this begins by removing a "wall", a large amount of BTC placed as orders at a certain price, which seemingly resists price movement in a direction. The whale often owns the majority of these orders, and by cancelling them causes regular traders to observe that there is suddenly much less resistance to price movement in a certain direction, and this in conjuction with the whale rapidly filling those orders which were not his causes the price to rapidly jump or fall, which in turn triggers "panic buying/selling" on the part of traders watching the price movement and the removal of this wall, which compounds the rapid price movement and causes the market to enter a state of hysteria.

The best example of this is on the night of January 20th and early morning January 21st. You can actually see these bars on Dogemonitor. Throughout the day session on january 20th, volumes were noticeably higher, slowly pushing prices upwards. Following this, the first massive price spike occured at 19:00, and BTC was continually pumped into the market to a price of 242 satoshis - this is the effect of the market hysteria caused by those initial large purchases knocking down "sell walls", while simultaneously publicizing the fact that a mysterious chinese investor has come to "pump" doge. Then, an orchestrated effort on their part quickly causes a massive panic selloff, whereupon a few large sell orders "juke" traders into panic selling as they fear the rapid rise will be followed by a rapid fall, and the whale grabs the panic sells as traders panic in a process known as a "shakeout" or "washing", or zhencang.

This allows the whale to recapitalize their investment at a lower price, essentially juking traders into selling their assets out of fear, while the whale knows full well when the dust is settled the price will be higher. With regard to the psychological game Wukong plays, he tells those in the IRC to "hold no matter what", serving two purposes - one, it makes sure he remains in control of the bounce back, namely that no one in the IRC "jumps the gun" and pushes prices up before he has a chance to start buying at the rock bottom, and two - those who do fall for his shakeout, despite his warning, are more inclined to trust him and not themselves, as they were just juked out of gains (without realizing it was Wukong who juked them in the first place).

Nevertheless, such a large investment ("pump") on their part is quite expensive, and to recoup and profit from their antics whales have a more insidious and profitable method of profit-generating manipulation than simply "pumping". Studying the chart over the history from January 20th to today, you will notice that within the overall down trend from the high, there are also periodic cycles downwards, where the price holds for some time, followed by upwards, where the price holds for some time. This is how the whale makes money.
The process consists of placing a "wall", a large amount of BTC discouraging traders from betting on price movement in that direction, and encouraging greedy traders to bet in the same direction as the wall - e.g. a sell wall at 165 encourages traders to sell at 164, to try and "undercut" the wall. The whale knows this, and happily will buy up all the sell orders coming in at 164, causing the market to "stall", essentially pausing any movement while the whale quietly accumulates doge. Occasionally a whale will allow prices to fall even further, should the selling ramp up, and then move the sell wall down, allowing the whale to continue racking up doge at cheaper and cheaper prices. Once the whale has accumulated a hefty position in doge, he removes the sell wall and simultaneous places large buy orders at prices higher than market, pushing the market up and inciting traders to quickly buy in, in anticipation of a pump. This causes a rapid escalation in prices, and further large buys placed by the whale allow him to influence the other traders to push the market to whatever price target the whale has in mind. At this point, the whale locks in the price by placing the remaining BTC he has as a "buy order" at a price slightly lower than market, encouraging the traders to place buy orders slightly above his wall.

You may wonder what happens when two whales are present, and how whales are able to coordinate their efforts - I've found that this is done through the chart, and that before a major price movement, a whale will announce their intent to other whales that may be in the market through a high volume bar, much higher volume than those surrounding it, that will rapidly push the price in the intended direction and then bring it back down immediately, which appears on the chart as an "arrow", marked by high volume and a large extruding wick in the intended direction. Should another whale disagree, they will use the same process to signal in the opposite direction, or if they agree will re-signal the same arrow. I am murky on the details, but through this process they reach an agreement and will move the price in the intended direction once all the whales have finished their transactions at the current price. Whales realize it is to their benefit to work together, and so will swallow their pride and allow the market to move against them in the short-term in order to continue the highly profitable "milking" of smaller traders in the long-term.In addition to the usage of walls, I have observed a second, more extreme technique used to move the market when the strength of small traders is not enough, which Wukong refers to as "one hand to the other". The process, when intended to push the market up, has the whale place a sell order at a certain price, and simultaneously place a larger buy order at that price, rapidly causing the price to escalate to that price and consuming all sell orders in between, including the sell order placed by the whale. This causes an even more extreme movement of small traders than simply walling, as traders watching the price rapidly flock to the movement caused by the whale, causing an even more extreme price change.

Repeated usage of this technique can cause the price to soar or tumble very rapidly, and is possible because it constantly recycles the holdings of BTC and doge in the whale's portfolio. However, there is a limit set by those orders which have to be eaten in order to move the price, and this places a constraint on how far the whale can move the price with their singular portfolio - it is possible that a group of whales combining their portfolio values to move the market can cause stupendous movements, like the one on January 20th - 21st.It is important to remember that the "walls" that are placed can be seen by everyone, and since a whale does not want you to catch onto their activities, the walls are meant to trick you. I have observed that whales actually place very small, typically 1000-10000 doge orders, repeatedly very quickly through the use of automated "bots", programmed using the cryptsy and other exchanges API. The walls are a distraction to allow their true trades to go undetected, and smart shibes will make it a point to discount the information gleaned from analyzing the dealbook. It is much more informative to instead study the actual market order history, as these are the orders than have been placed and can't simply be removed by pressing a button - often times you will find that even though a large sell is in place, the market order history shows that BTC is flowing in to doge - meaning prices will rise shortly.

HOLY SHIT ITS THE ANNOUNCEMENT. ITS PLASMA.

>plasma.io/

>plasma.io/

ITS OMG'S BLOCKCHAIN.

This shit's going to be the next ETH. Neo is just a quick pump and will crash to sub $10 by next week, this is the future.

>plasma.io/

PLASMA is the new OmiseGo blockchain.

Read this white-paper. Now.

Very informative. Answers all these questions ive been having in my head about how a whale operate.. I actually see some of those quick volume spikes on this chart.

holy fucking shit. it's real.

I don't understand. So I have to buy plasma too? Do I get 1 plasma for each OMG I have?

WHAT THE FUCK IS THIS SHIT? Why is Vitalik commiting so much to this instead of ETH?

Eh maybe. Seems like a good concept. Price is heading up now

plasma.io/plasma.pdf
plasma.io/

twitter.com/omise_go/status/895475403057319937

Guess what?

>DOESN'T FUCKING MATTER ANYMORE! PLASMA CAN HOLD IT AND IT RUNS ON ETH.

Get fucking ready!

twitter.com/VitalikButerin/status/895467347502182401

You don't have to buy plasma. *Plasma* is the OmiseGo blockchain, Plasma is the cool secret code-name for it.

I'm a real dummy, is this good for OMG?

this is good for you if you want to make money buying OMG

How do I buy?? I have 2 eth and 1.5 lite, I don't want to miss the moon mission

OMG is one of the leading ETH projects and is advised by Buterin himself. this announcement is very very good for OMG.

I'd like to lose money, how should I proceed?

this looks like smart contracts but for map reduce. possibly very limiting but powerful.

It's going to take a week or so for the market to fully process this. This isn't an instantaneous moon mission.

>Bancor

HOLY SHIT SOMEONE JUST DROPPED 50K IN OMG, THE SLACK IS GOING CRAZY

HOLLLLLLLYYY FUCKING SHIT. IM
FUCKING READY FOR THE MOON

Here we go boys!!!! Time for our second OMG moon mission. Get in NOW, before the news hits social media.

1GioS48fziDxRwSAuNcp9Jpz4GUfduYyT6
donate bitcoins for a suprise

THIS IS IT BOYS THE MASSIVE WALL IA GETTING EATEN THE FUCK UP

an 80k omisego sell wall just got munched through in minutes on bittrex

Does this change the $4.50 mark?

I can wait for the week to start, I just would want to buy now before it becomes late but I don't know how, all I have is coinbase

Good, someone is getting rich selling the news

>tfw 1060 omgs

Am I going to make it boys?

Transfer Transfer Transfer TRASFER TRASFER!!!! FUCK YOU CRYPTOPIA

bitfinex

>muh selling the news

It's still the same price it was for the past two days retard. The news was a blind announcement five minutes ago, this shit is going to rocket buddy.

Nomgs are even worse than nosigts and noants.

>twitter.com/JUN_Omise/status/895477912354267136

Official, OmiseGo is the first Plasma project. This. Is. Yuge.

tfw when you lost 150omg coins because you thought it would tank

You have a referral code?

>buy neo at 7
>sell at 24
>Put everything in OMG 5 minutes after Vitaliks tweet.

mfw

There are some giant ass sell walls but this seems good for omg bagholders

Worth buying into OMG right now or am I too late to the party?

It hasn't moved since the news. Throw a few satoshis at it and have fun. Just enough that you're comfortable losing.

i personally think OMG will outmoon NEO

Fake sell walls for whales to accumulate. You only see what they want you to see, never use them for any rational decision making. After they get enough cheap coins they'll drop the walls and this shit will take off like a rocket.

Anyways I'm holding this for at least a year. I tried to daytrade and sold ants at 360k a week ago to buy back in cheaper and look where it got me. Just going to forget I even have these.

Had some spare sats from cryptopia anyhows, thanks m8

Nope, not an inch.

Idiot.

Lifting off boys. Hope you were strapped in

>the announcement turned out to be Plasma

Holy shit

Literally just got this news man. Omg will probably pump all night now. Money flowing out of neo probably to omg.

I am rock fucking hard.

Whats plasma?

>mfw contemplating efficient market hypothesis as soon as I read that tweet
>mfw omg was only up 1%
>mfw as I contemplate the hypothesis OMG shoots up another 10%
>mfw I know that as soon as I fomo buy price will drop
>mfw I know that if I do not buy, price will continue to moon
>mfw no face
what the fuck do I do?

Waiting for my $50 btc to deposit into bittrex so I can get some baby dick moon returns

yeahhh buddayy

This shit is going to 6-7 tonite. buy now while you can .

ANODDER COIBN!

Any questions?

WTF, SOMEONE JUST BOUGHT 290K

buy now, sell at $4.50. the chart WITHOUT THE NEWS PRICED IN showed that a breakout was incoming. i cannot say whether or not the news will amplify said pump.

People don't start buying in until they see its already mooning. This is crypto. Very few people see tweets and shit. They see omg went up x amount last hour. Better get on that.

Hmm neo went to $17 in two days, maybe OMG will too

>plasma.io/

>Abstract: 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.

>We propose a method for decentralized autonomous applications to scale to process not only financial activity, but also construct economic incentives for globally persistent data services, which may produce an alternative to centralized server farms.

t;dr: it means OMG is the Chosen One.

This is an amazing day.

TL;DR / Simpler abstract:
Plasma is a way to create a blockchain (as a set of smart contracts) within a blockchain, by simply committing the root hash of the "meta" child chain (Plasma) on the main chain (Ethereum).
The child chain acts kind of like state channels on steroids, and only the final state transition hash is committed to the main chain. If someone commits an invalid plasma state transition hash/block, the protocol incentivizes committing "fraud proofs", where parties who are interacting in the child chain can show that someone behaved maliciously, and penalize them, reversing the faulty transition.
The child plasma chains can themselves also have child plasma chains, and those chains can have child chains, etc... this "tree" of chains can be reduced through MapReduce, such that billions of transactions/state transitions can be trustlessly/verifiably encoded as a simple hash committment on the root chain.

lol saw a 150k sell wall these whales be crazy.

just bought 0.5 BTC worth
lets fucking go boys
i was a nonbeliever but if vitalik is behind plasma then fuck it