Are any of you aware of the censoring going on on the Omise_Go subreddit? Why was this post removed?

Are any of you aware of the censoring going on on the Omise_Go subreddit? Why was this post removed?

>Someone asks how Omise Go works, and points out vagueness behind their idea
>Post gets removed and gets called out for trolling even though it's a perfectly valid question

reddit.com/r/omise_go/comments/6z8h8c/how_does_omisego_work/

Other urls found in this thread:

cdn.omise.co/omg/whitepaper.pdf
twitter.com/NSFWRedditGif

Didn't think a company like Omise would stoop so low that they remove valid questions and criticisms about their product. Really makes you think...

protecting the value of the coin at all costs and learning from experience look at what happened with IOTA, this makes me trust omg even more look at monaco going from 8 to 25 in a week because they had a solid marketing team, and about the censoring the product is there anyone that reads the whitepaper would understand it that faggot was only trying to troll and cause a price drop like iota , omg avoided conflict instead of fighting it like little kids

I'm not saying this is a pump and dump shitcoin but they sure fucking act like it. Super vague announcements all the time, news "coming soon" for like 2 months, post a pic of some interns at the Thai central bank but don't say who they are or what they discussed...

Why didn't anyone answer the question OP had in a clear and understandable way?

If they've got nothing to hide, they've got nothing to censor.

leddit drama bullshit aside (it's a he said she said at this point), Vaseline Butterbean being so integral to the project is an enormous vote of confidence for me. that skeleton has integrity.

guy was being an annoying FAGGOT

>To summarize, how will a person buy bigmacs in Bangkok and use Japanese Yen? Who takes opposite side of the trade?

Can anyone answer this?

>look at what happened with iota
Nothing. Censoring in rbitcoin never negatively impacted blockstream

Problem is that it's hard to simplify. Just read this if you're interested:

cdn.omise.co/omg/whitepaper.pdf

Why is it hard to simplify? Just apply it to a real world scenario.

>Alice sells hamburgers for 5 USD
>Bob wants to buy a hamburger for ETH
>Bob pays Alice the equalivent of 5 USD in ETH
>Alice receives 5 USD

Where does the USD come from?

From any exchange willing to do the transaction. Jesus fuck it's not complicated.

this desu

I'm not a very smart person. But I bet it's in this whitepaper somewhere. Maybe it's converted for fiat tokens through the decentralized exchange? Read it yourself or ask someone smarter than me.

What if there are no exchanges willing to make that transaction?

Right now, it seems like it's entirely dependent on open offers. What if no one is selling USD for ETH. Or, what if no one is trading for USD at all?

This scenario seems totally plausible when applied to more obscure forms of currecy. How will Omise Go deal with that?

Someone answer this pls.

Does it have to be structured like an exchange/stock exchange though? I'm a fucking retard, but couldn't it be alá the bank - when you exchange your USD to EUR it doesn't require some faggot in southern Europe to sell his euros to you. The bank does it for you?

The bank still has to buy or stock up on the other currency, and you also pay a conversion fee I'm pretty sure.

Seeing as Omise Go is a decentralized network, who's going to be storing the other currencies?

>Vaseline Butterbean

Well - their goal is having tens of millions using this decentralised network. I'm positive they won't open up cryptos/fiat in the exchange that too few hold?

How does for instance Binance sell OMG's to niggas the first minutes it's on there - they haven't bought thousands in before?

Then you can't make the transaction lol

That's like saying "what if no one accepts Zimbabwe dollars, what will I do?"

You'll simply spend something that's liquid and in demand with robust bids and offers. Omg provides the framework so it's basically currency agnostic from what I've seen. Whatever is traded at the time can use omg which provides immense value

plasma network will integrate a large host of coins and through the volume alone will be able to convert any currency. depending on the coin, it could convert through multiple pairs before it reaches the desired currency. Not a difficult concept, when there's a buyer, there's a seller.

I'm just wondering how this system will be set up in a decentralized way. Because it seems like an inital investement is required to buy all the needed currencies before people can start using it.

It can exchange for the currencies on the fly. If nobody is willing to exchange, it means your currency is worthless at that moment.

Isnt omisego just an exchange of different coins and fiats that uses omisego as gas / fee

It's like asking how bittrex works

Loving my money tree