/biz/ - Business & Finance

just sold 1k OMG for BTC... lets see if I get fucked for doing that.

>>9797243
that will unironically be the worse mistake of your life

>>9797256
Why?

>>9797256
why?

>>9797243
>held an ICO
>clearly fucking tied to Omise the company
>promises dividends lol fucking rekt
>Omise promising that they will use omisego with their clients
You have to be dumb as fuck if you think the SEC will believe OMG is not a security.

>>9797256
>0 posts by this id

>>9797256
See this >>9797266 copetard. This is a fuckign security.

>>9797123
>doesn’t understand regulations is massive

>>9797283
DUDE I DONT HAVE 2 MILLION BUCKS TO BE AN ACCREDITED JEW APPROVED INVESTOR THAT WAS THE WHOLE POINT OF BUYING LINK. NOW THEYRE GONNA TAKE IT AWAY. THIS IS NOT BULLISH

>>9797283
Which is more likely to happen if OmiseGo is declared a security tomorrow? 100% gains or 50% losses? Be honest

lmao at the nigger security fud
same shit as in november

>>9797266
It doesn’t promise dividends. You clearly don’t understand what the token does or how their staking works.

>>9797262
>>9797263
take this from someone that got rich off eth, that helf thru dao fud and tough times of stagnation . selling a respectable stack of omg right now will poosibly be the worse financial mistake of your life

>>9797311
The amoutn you earn staking depends entirely on the number of people using OmiseGo wallet which the Omise team states their clients will use.

If OmiseGo isnt a fucking security then what is? Go on name one token that is a security. The SEC clearly states majority of ICOs are securities and somehow this thing with a huge red flag isnt one? lmao.

Go on name a coin that fits your criteria of a security.

>>9797327
Oh please, holding any shitcoin prior to the 2017 bullrun will give you gains. Even dogecoin would have made you rich as fuck.

With the hundreds of coins out there right now do you really have to stick with OMG? No. Even BTC is a safer choice.

Look at how this coin performed. Down from its August 2017 price. So in other words its high risk low profit for OMG.

>>9797272
Is this a meme or just retardation?

>>9797327
how many OMG are needed to make it?

>>9797334
Securities are holdings of a company you fucking retard. Omise "dividends" aren't dividends. They're staking rewards you get paid out for staking on the OMG network. You have to either run a node or put your coins into a pool running a node. It's not dividends you fucking mongoloid.

>>9797348
idc what you do retard go buy namecoin if you want, go try to daytrade your shitcoins. it will be less offort in the long term for anybody that decides to buy omg. again good luck

>>9797266
wtf is wrong with you.. I actually did sell my 1k OMG for BTC as BTC is not a security!

>>9797378
>>9797384
Lmao then go on name one example of a coin that fits your criteria of a security. Like i said if OmiseGo isnt a security then nothing is.

Because the SEC stated that majority of ICOs are security then it only logically follows that OmiseGo is a security.

>>9797378
>>9797384
Before saying this is FUD why dont you refute my point first? >>9797443

Living and being a USA citizen must suck balls

>knock knock!
>whos there?
>security!
>security who?
>security -100%

>>9797508
Yes, living is awful.

HAHAHAHAHA i see no omisego bagholder can refute my point >>9797443

its a fucking SECURITY

>>9797307
But this time the fucking chairman of the SEC literally went on cable tv and said it, you dumb son of a bitch.

>>9797361
Zero

oh look the migger is back with new fud.

im going to murder your family james edwards. i know where you live

>>9797378
This

OMG, ICX and NEO are pretty much the prime examples of what SEC will classify as securities.

if these are not securities than nothing else in crypto can be defined as a security.

>>9797443
The sec doesn't declare what is a security outside of usa. Omise isn t American so it doesn't even matter.

>>9797272
>>9797354
Ye this gotta be a meme, I dont think IDs carry across posts?

idk I am not not a /biz/ tard i live on other boards

>>9797746
>OMG, ICX and NEO are pretty much the prime examples of what SEC will classify as securities.

Finally someone who understands. If these arent securities then nothing is. Which means they are securities because the SEC verified that majority are securities.

>>9797788
>The sec doesn't declare what is a security outside of usa. Omise isn t American so it doesn't even matter.
>Stage 1 DENIAL: It isnt a security
>Stage 2 ANGER: calling me a fagot
>Stage 3 BARGAINING: it doesnt matter if its a security because..... reasons

>>9797302
50-80% losses

Sorry, its not. Its already been confirmed its not. DYOR

You guys are fucking retarded. OMG is not a security and the OP knows it.
It doesn't even apply to non-USA projects to begin with.

>>9798173
>You guys are fucking retarded. OMG is not a security and the OP knows it.
And why is that?

>It doesn't even apply to non-USA projects to begin with.
Just because its not based in the US doesnt mean its a security. You're retarded if you dont think this will tank a lot if its declared to be asecurity brainlet.

>>9797266

Once OMG is launched, Omise cannot control it in any way. They are just tokenvalidators like the rest.


OmiseGo is a public and permissionless network, and Omise will be one of the companies using it, a small one actually.

Because Omise has no control over OmiseGo, if they cant decide who uses the network, if cant decide the fees, then how is it a security?

>>9797620
It doesn't pass the howey test so it is not a security you absolute retard

And even if it did pass it, why should anyone give a shit if fat burgers can't buy it? Does being classed as a security mean that
A. It can't function as intended in Asia
B. Less staking rewards
C. The rest of the world can't buy, stake and trade the tokens without problems
The answer to all is no, so fuck you mutt

Bumping this quickly before it is pruned

I am an attorney. I don't care if you believe me or not, but I just wanted to put some minds at ease on this.

If you watch Claytons clip, I would have to take away that OMG is likely a security, as defined by the SEC right now. While that's unfortunate, people holding OMG shouldn't be dismayed by this.

Clayton also clearly does not understand the significance of decentralization under the fourth prong of the howey test, saying only that they're not going to change their approach for a decentralized network.

This literally isn't an answer to the reporters question. Its a dodge by a Washington bureaucrat who doesn't understand what is happening in blockchain technology. What a shock that is.

In practical terms this doesn't mean OMG has to stop their activities. What it means is that the SEC like the CFTC are going to create crypto sandboxes where certain projects that are impeccably legitimate can test run their services in America under direct oversight by the SEC without the fear of securities litigation. I would 100% expect OMG to be going this route, eventually once they start focusing on America.

This is a project with Vitalik on board and a really technology to improve American finance. The SEC is not dumb enough to stall American tech development for some simple reporting requirements.

That being said, if the SEC does actually start fucking things up, it's a very simple solution. The public will go crazy over this situation, and it immediately becomes a political issue. All Congress has to do is pass a law that regulates tokens differently and suddenly it doesn't matter what the SEC thinks.

So,
1- the SEC literally doesn't understand the securities implication of decentralization
2- the SEC will be running project specific sandbox operations to be a watchdog without impeding progress
3- If the SEC fails to understand what's going on, it's a single legislative effort away from being bitch slapped down anyway

>>9800137
That's a nice post fren. Mind if I save it?

>>9800137
But you have to be deluded to think that OMG wont tank hard when its publicly confirmed to be a security.

Thinking otherwise is just being deluded.

>>9800137
>This is a project with Vitalik on board and a really technology to improve American finance.
Ive never understood why this is supposed to be true

>>9800137

Thanks for your made up bollocks

You don't know more than anyone else about what the SEC will do next you stupid fuck

>>9800303
You know whats even funnier? ETH fanboys hating on EOS for being ERC20 vaporware while loving OMG which is alsl an ERC20 vaporware

>>9800407
yeah but even hypothetically, wtf is OMG supposed to do?

Who gives a shit, they aren't even targeting the U.S. market you stupid fuck. They are going after ladyboys and sick water buffalos in asia.

Even if the SEC outright calls OMG among the 200 shitcoins a security it doesn't fucking matter. The coin will return at least $3 a year in staking rewards within the next 18 months. Every gook and rong dong will jump no this bandwagon to get dividends, skyrocketing the price.

You fail to see the stupid picture. Big fucking deal if its a security you fucking faggot.

>>9801642
At least $3 a year staking rewards hahahahahahahah how is that mainet going for your vaporware coin?

I think you invested in the wrong vaporware. OMG price is lower than the august 2017 price in dollars and EXTREMELY down in satoshis.

If youre going to invest in vaporware should have gone with EOS that has washtrading brainlet

>>9801664
Lol when you have 100k OMG $3 a coin is legit. Who gives a fuck about satoshis. I measure in ETH.

Some coins you go 10x, some you are even for 10 months, at the end of the day I always outperform you shitty portfolio.

Fucking dumbass.

>>9801700
Keep coping. Omg is literally one of the worst performing coins.

>>9801664
That's why you will never be an early adopter. Can't invest in something without a "mainnet". Stay poor faggot.

>>9801708
Not going to argue that it isn't the last year. But I look long term.

You're gonna be like the "gullible as fuck" retard that said buying ETH at $1 is stupid. You literally can't look past 2 months. Pathetic.

>>9801710
>>9801722
You reek of desperation hahahahahhaah hodl to oblivion then

OMG is not a security since it doesn't pass the Howey Test: https://consumer.findlaw.com/securities-law/what-is-the-howey-test.html

Specifically #4, where any profit is required to come from the "efforts of a third party". Which is false, since the holder would need to stake OMG tokens and validate transactions to get said profit. You won't get a cut of the network transactions by just holding OMG.

>>9800285
once again its not a security the "dividends" word you keep hurling around is untrue. Its staking rewards from runinng a node. You can choose not to run the node and not get staking rewards

>>9801750
I'm not sure why you cope so hard and say I'm desperate. I've made it and OMG will be very profitable in the future.

You're not even a millionaire. This thread started about securities and not you just coping about its ROI the last 9 months. Lol you're life is pathetic, like what are you even trying to do here. Make randoms on biz not invest in some asian computer coin?

Reevalute your life brah, its pathetic.

>>9801765
Why will OMG be so profitable, what does it do?

>>9801860
DYOR you annoying fuck

>>9801882
No.

Somebody spoonfeed me pls.
I wont stop.

I have 300k invested dude please delete

>>9801908
Nah we don't need ur shitty 50k. Fuck off. We're full.

>>9801934
tfw dont have 50k
>have 5k

but if I threw that 5k into OMG, what makes you guys so sure I wouldnt lose 50k?

>>9801947
You will, its a security, don't do it.

>>9801952
Alright then so OMG is a security, but why will I lose money if I invest into it?

>>9801981
Because its a security, don't you even know the Howey Test.

>>9802029
I howey tested alot back in my youth, I know exactly how it goes.
Bad Coin -> Security.

unironically, why would people adopt OMG as their banking system, whats the incentive?

>>9802083
There is none. Just buy link.

>>9801860
OMG will crash and burn. Don't invest, it'll never be more than $1k per token probably. The odds of it working and becoming a world exchange are only like 75% which is low compared to products like EOS or IOTA which are close to 101-105% chance of success. I don't know why you would want $.03 + .5% of every transaction in the world. That's not even a lot really. I want like 20% at least if I'm going to invest. Nty Asia coin. IOTA is gonna be the future. How else will your toaster tell ur smart watch that ur onions waffles are ready?

>>9802094
Thanks just bought 15k

>>9802098
this guy gets it. 75% is an insane gamble compared to 105%

>>9801700
>Lol when you have 100k OMG $3 a coin is legit
you a ICO investor?

this is the lowest IQ thread on biz right now

waves is so vastly dominating over OMG its silly. Cross blockchain, the best dex in all of crypto, the best perfoming digital currencies like WAU Coin, and NUMA. OMG is 3 years behind waves and may never catch up. Waves has major updates every week. OMG still treading water. Waves guys WAVES

>>9802151
>unironically thinks waves has fuck all to do with OMG
I love biz

1,800 omg here. Will I make it? Be honest

>>9802251
Yes you will be great

>>9802192
omg is trying to make a dex, cross blockchain int, fiat on ramping, l2 tokens, ummm all the things waves already does. I love dummies, need a sandwich?

>>9802292
Layer 2 scaling for the largest decentralized smart contract environment. Dex and fiat ramp are just a side item for OMG you goon.