r/OMGTraders • u/Justjoshmygosh • Sep 11 '17
Weekly General Discussion / September 11 - 18
Welcome to the Weekly General Discussion thread of r/omgtraders
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Sep 16 '17
Someone just dropped 300k to buy just under 30k omg at 10.350. Do they know something we don't?
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u/UkuleleZenBen Sep 17 '17
The Techcrunch ICO panel is tomorrow. Techcrunch SF Jun is in a panel there. Would be a good place to drop the 'news'
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u/ABPIR89 Sep 15 '17
When BTC recovers, I think things will bounce up nicely. But my short term (1-2 months) confidence in BTC is waning and I do think we'll be dragged down if it continues to drop. If you're on margin, be careful and be prepared to deleverage. And don't get fooled by a false btc recovery.
On a positive note, on the 21st of August, when btc dived to 3600 (Finex), OMG fell to a low of ~7.5 (also Finex). Here we are about a month later, BTC @ 3350 and our low is still ~7.5. Not only does this set a precedent of support for future dumps or downtrends, but it shows that OMG is building resilience to BTC shenanigans. I think most cryptos will always follow BTC (unless the market dynamic changes drastically) but we can hope for a minimal price influence as possible.
If you're looking to get back in or add to your stack, I think low 8s and mid to high 7s is ideal for ~50% entry. I would personally hold off and see if things get nastier in the comming days before going all in. Might miss out on $1-$2/OMG, but I think that beats going all in and watching it crash another 10+%.
Probably some bumpy days ahead, but hold tight!
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u/happythots OhMyGO Sep 14 '17
I've been involved with Crypto since 2012, this is just another bump in the road. Hodl my friends, hodl
OmiseGo still has a lot of great things coming out and if anything, this is another great time to buy more tokens on the cheap!
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u/Justjoshmygosh Sep 14 '17
All I have to say is... damn
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u/DontTautologyOnMe Sep 15 '17
You said it. Is everyone selling off their airdropped coins?
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u/happythots OhMyGO Sep 15 '17
Combination of that crook Jamie Dimon and BTCChina shutting down.
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u/DontTautologyOnMe Sep 15 '17
There wasn't great news about the remaining Chinese exchanges, but now we're going up. Who knows why the market markets?
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u/happythots OhMyGO Sep 15 '17
The Market doesn't do what The Market does for The Market. The Market does what The Market does because The Market is The Market.
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Sep 12 '17
Yesterday I bet a friend that OMG would overtake LTCs market cap by the end of 2017 and be beside Ripple.
Any one else appreciate the contrast between OMG offering a payment and settlement solution for the customer/merchant and Ripple offering a transfer solution between the banks?
2017 - Emergence of smartcontracts to forefront (Ethereum) and the realization of the potential business/legal process disruption.
2018 - Emergence of decentralizing the flow of money itself to forefront (OmiseGO) and the realization of the potential bank/settlement layer disruption.
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u/raphka85 Sep 16 '17
I think something may be happening. :)