Bitcoin and other forms of digital currency

[Brystheguy]

1 hour ago, LegoBro said:

Lol it's the ecomi coin. They currently have a beta app called veve. It deals with NFTs. It's the new card collecting similar to top shots. Very cool stuff happening in the field of collecting. 

Ok, I’ll bite. I have only bought and sold on Coinbase though. I have read through tutorials about how to buy on Bitforex but don't own any Bitcoin outright to purchase OMI. What do you suggest to purchase Bitcoin that I can transfer to Bitforex as most exchanges don't allow that. Do I need a wallet and then I purchase BTC? Thanks.

 

[LegoBro]

30 minutes ago, Brystheguy said:

Ok, I’ll bite. I have only bought and sold on Coinbase though. I have read through tutorials about how to buy on Bitforex but don't own any Bitcoin outright to purchase OMI. What do you suggest to purchase Bitcoin that I can transfer to Bitforex as most exchanges don't allow that. Do I need a wallet and then I purchase BTC? Thanks.

 

Yeah, Bitforex is kinda of a pain.  Their is a learning curve, so use small deposits to start. Sometimes their deposits take hours or days so beware. If you check out some of the responses to their tweets, it's kind of comical the amount of people waiting for their deposits to show up.  All my deposits have gone through but a few I did have to wait on. Those were deposits of ADA from my wallet. From AnchorUSD my deposits of ADA and USDT so far have occurred within a few hours.   I guess crypto from wallets go through a manual contractual procedure, thus it takes them longer to process... so I've read.  From what I recall OMI pairs with USDT so I converted my ADA to USDT on Bitforex.  (Not a financial advisor and I do not pretend to be one lol)

From my understanding Uniswap will be exchanging the coin by Monday. Might be easier to wait.

[sodoubleoggood]

thanks for the tip on omi dude! I'm in as well.  I would think if it moves to UNI it could see a nice pump, so I took the time to buy through Bitforex.  Been a while since I used that one!  thanks again 

[House Schubert]

I would love to know why you think OMI is going to be the go to NFT currency....

 

[sodoubleoggood]

s

46 minutes ago, House Schubert said:

I would love to know why you think OMI is going to be the go to NFT currency....

 

So I'm not OP, but I was poking around on reddit when I was DMOR, and found this which had me sold: 

ECOMI (OMI) crypto DD: OMI is a NFT used by the Veve app. Veve is a company based in singapore, it is a marketplace for digital collectibles.

Why Veve/OMI? - Veve has licences with DC, Cartoon Network and Ghostbusters. - Alfred Kahn is head of Licencing, he used to do licencing for pokémon, mario bros, yu-gi-oh, and more - Veve provides support for AR and VR making users able to "bring digital collectibles to the real world" - by using blockchain it is impossible to duplicate or "lose" items - digital collectibles have a market of around 80 billion, and is expected to keep growing. - gems, the currency Veve uses, can be converted from and to OMI. this means users are able to make money trading collectibles. - OMI supply is capped at 750 billion. with 40% of that held by the company, and another 40% is held by board members, and used for buisiness development. making only 20% or around 150 Billion actually available for the public. - OMI is only available on 2 (very small) exchanges. and is still in very early stages of it's development. - OMI is working on being listed on more exchanges, and a wrapped version (WOMI) is being listed on Uniswap this march. - OMI is only at 0,0041$, this makes for lots of room to grow. - OMI coins get burned, currently at a rate of ~2000/second this should increase as the userbase increases.

TLDR: NFT, coin burn and good partnerships.. tbh OP had me at NFT

And also, this doesn't need to be the "go to NFT currency" rather it just needs a piece of the pie.  There's a lot of pie to eat out there.. 

God speed moon boi's and happy weekend!

[Alpinemaps]

Probably a dumb question but...

How does a crypto coin utilize these licenses?

[cladner]

40 minutes ago, Alpinemaps said:

Probably a dumb question but...

How does a crypto coin utilize these licenses?

one example is NFT block chain company Dapper labs partnering with NBA to create the top shot collectible NFT series.   https://www.si.com/nba/2021/03/17/nba-top-shot-crypto-daily-cover#:~:text=NBA Top Shot—a partnership,moments%2C” from recent seasons.  (https://nbatopshot.com/) which seems like it could be a viable collector format- bitcoin-block chain meets trading cards.  i can only imagine when this makes it to pokemon and magic .   different NFT are more or less scarce.  you carry them around on your phone or display hi def versions on a wall mounted viewing device.  you can see where this is going to go for collectors.  all the people buying single cell from a disney motion picture.  you could see every single frame from every disney motion picture as an NFT like they sell the gels now.  hard to see how you transact like a coin but would take counterfeit out of equation and add a chain of verifiable  ownership  to the collectible.

Edited March 26, 2021 by cladner

[House Schubert]

Jeesh... took most of the Day to open a bitforex acct., transfer some BTC, convert it to USDT, then buy some OMI, and now it looks like nothing happened... is bitforex super slow in registering the buy?

[sodoubleoggood]

After seeing the OMI post earlier yesterday morning, I made two deposits of ETH and was able to purchase OMI using the ETH/USDT pair probably with a half hour or so.  It was immediate.  Once purchasing you need to transfer from your Spot acct back to your wallet to see it.  That may be it?

[LegoBro]

12 hours ago, House Schubert said:

Jeesh... took most of the Day to open a bitforex acct., transfer some BTC, convert it to USDT, then buy some OMI, and now it looks like nothing happened... is bitforex super slow in registering the buy?

Never had an issue seeing a buy posted.  File a support ticket if it's still an issue. 

[House Schubert]

1 hour ago, LegoBro said:

Never had an issue seeing a buy posted.  File a support ticket if it's still an issue. 

Took a while, but showed up the next morning. I’m in! To the moon!!!!!

[scatttcat]

One thing I would recommend to everyone buying OMI (I did too) is to get it out of that exchange after purchase. Not saying the exchange is unsafe (has average reviews), but from lurking reddit... its also not the best lol. There is the argument you should always house your coins in a dedicated wallet as well.

I personally found that TrustWallet houses OMI coins and is a solid wallet, so I moved mine there immediately after purchase from BitForex. Just thought I'd share

[Setheronie]

Ahem...

https://dailyhodl.com/2021/03/27/charles-hoskinson-unveils-plan-to-push-cardano-as-top-nft-platform/

[cladner]

https://www.cnbc.com/2021/04/01/funko-shares-soar-after-toymaker-strikes-deal-to-enter-nft-market.html

jump on board icarus's magical flying bandwagon.

[Mark Twain]

On 3/26/2021 at 12:43 AM, LegoBro said:

From my understanding Uniswap will be exchanging the coin by Monday. Might be easier to wait.

Tried to find OMI on Uniswap and came up empty. I can find tweets about OMI being wrapped with ETH and being available on Uniswap but can barely comprehend any of this. 

[Brystheguy]

49 minutes ago, Mark Twain said:

Tried to find OMI on Uniswap and came up empty. I can find tweets about OMI being wrapped with ETH and being available on Uniswap but can barely comprehend any of this. 

I've said it before but if “they” want people to use cryptocurrencies they have to make it easier. This process is so dumb and restrictive.  Open Bitforex account, transfer Bitcoin, convert Bitcoin to USDT, buy OMI, wait for confirmation, move to a wallet. Seriously? WTH? I can physically buy a car as an investment faster than this clown show.

[LegoBro]

15 minutes ago, Brystheguy said:

I've said it before but if “they” want people to use cryptocurrencies they have to make it easier. This process is so dumb and restrictive.  Open Bitforex account, transfer Bitcoin, convert Bitcoin to USDT, buy OMI, wait for confirmation, move to a wallet. Seriously? WTH? I can physically buy a car as an investment faster than this clown show.

Yup! 100% agree. Not to mention the 10 key word passphrase you better not lose or stick it up your butt for safe keeping lol 😆😉. Some good prices to load up on some coins, but yeah..u gotta navigate from point A to point G...ohh and don't forget your funds gotta clear...

[Mark Twain]

[blue leader]

6 hours ago, LegoBro said:

Yup! 100% agree. Not to mention the 10 key word passphrase you better not lose or stick it up your butt for safe keeping lol 😆😉. Some good prices to load up on some coins, but yeah..u gotta navigate from point A to point G...ohh and don't forget your funds gotta clear...

We are still early. Yes at 60k btc... early. The future of finance and how we transact value is being created, broken, and remade everyday. Eventually everyone will utilize blockchain and many different cryptos... without even realizing it.  Super early.

[spener90]

31 minutes ago, blue leader said:

We are still early. Yes at 60k btc... early. The future of finance and how we transact value is being created, broken, and remade everyday. Eventually everyone will utilize blockchain and many different cryptos... without even realizing it.  Super early.

What happens if/when governments make it illegal? Also, how do you feel about the energy usage involved with bitcoin?

[Mark Twain]

Amazing weekend for crypto.  The marketcap is closing in on 1 trillion.... Ethereum up 25% today alone.  Finally starting to correct past the .0275 btc ratio it usually holds!  Exciting times.

Cryptocurrency’s overall marketcap officially doubled today from January’s record high of 1 trillion to 2 trillion. We’ve arrived at a time where we no longer have words to describe this — crazy, insane, unbelievable, nothing truly captures this phenomenon.

https://www.reuters.com/article/us-crypto-currency-marketcap-idUSKBN2BS1I7

[Setheronie]

Here's a cheat sheet.

Edited April 6, 2021 by Setheronie

[sodoubleoggood]

On 12/18/2020 at 10:25 PM, sodoubleoggood said:

This will be one of those threads that most on here will look back on in regret in years time.  It's not too late though friends!  Still super early in the game and here's a little heads up.  When Coinbase finally lists their IPO in the near future, it's certainly something you'll want to jump in.  (Disclosure, I preferably use Gemini right now, but Coinbase is one of the easier on-ramps for those new to crypto, so I expect this to be a huge stock gainer immediately upon listing.) 

Ethereum will certainly continue to grow with BTC, especially with CME announcing Ethereum futures contracts.  ETH also has better use case as opposed to the store of wealth in BTC.  Think of it as the silver to BTCs gold... My personal opinion is that as BTC gets more credibility and more people start to talk about, they will look at the crypto charts and see the others in the top 10 as opportunities for BTCesque gains.  It will be very difficult to own 1 BTC, but 1 ETH is still within reach for those looking to invest with some expendable cash.  Honestly though, you can't go wrong with BTC, ETH, Link, and others such as XRP and XLM.  If you've never invested in crypto though, you need an iron stomach to deal with drastic dips, so be strong and always hold because it bounces back inevitably.  

Friendly reminder that Coinbase is listing on 4/14 as COIN for $303.  I'd expect this to correlate with BTC's gains and be a great performer.  Some people have been suggesting jumping on list date, riding the pump and then dumping and waiting for a correction (seems like they refer to the activity ROBLOX received upon listing)  Either way, I wish I wasn't saving for adoption fees as I'd empty my bank account for Coinbase action when IPO is live.  Best of luck to all!  and always remember, still SUPER EARLY and expect insane price action ---- looking at you, ETHEREUM!   

[Mark Twain]

Friendly reminder that Coinbase is listing on 4/14 as COIN for $303.  I'd expect this to correlate with BTC's gains and be a great performer.  Some people have been suggesting jumping on list date, riding the pump and then dumping and waiting for a correction (seems like they refer to the activity ROBLOX received upon listing)  Either way, I wish I wasn't saving for adoption fees as I'd empty my bank account for Coinbase action when IPO is live.  Best of luck to all!  and always remember, still SUPER EARLY and expect insane price action ---- looking at you, ETHEREUM!   

I wonder if Robinhood will offer Coinbase’s IPO or, getting really meta, will allow users to buy Robinhood’s own IPO with their app when it goes public this month, too?

[bigboy61]

On 4/5/2021 at 9:01 PM, Mark Twain said:

Cryptocurrency’s overall marketcap officially doubled today from January’s record high of 1 trillion to 2 trillion. We’ve arrived at a time where we no longer have words to describe this — crazy, insane, unbelievable, nothing truly captures this phenomenon.

https://www.reuters.com/article/us-crypto-currency-marketcap-idUSKBN2BS1I7

Not sure I would call it unbelievable or that there aren't words to describe it. We see this kind of stuff every 3/4 years. NFTs, sure. That's crazy and ridiculously overvalued. However, there's still a ton of room for ETH to go. We aren't even 2X its 2018 ATH. Lots and lots of room for upward growth with ETH.

 

If you think this is crazy, wait like 4 or 5 months. We may be at 3 or 4 trillion + by then . 

Edited April 10, 2021 by bigboy61