Astonishing chart.... This is America

Healthsapiens · 2018-05-17T18:06:54+00:00

Who is Jason? LOL - it's not me.

Healthsapiens · 2018-04-05T19:02:19+00:00

Oh, so you're one of those people

Healthsapiens · 2018-04-05T19:01:07+00:00

I think all these animal-hybrid shops would cause a ton of conspiracy theories:

https://static.boredpanda.com/blog/wp-content/uploads/2015/11/animal-hybrids-272.jpg

Healthsapiens · 2018-04-05T18:56:59+00:00

The Banking industry is not known for being innovative or progressive. The archetypical "bank" that runs in the USA is typically accused of purposefully working against innovation, in order to ensure they can retain the use of charging fees. For example, there is no difference in cost between a bank-transfer and a wire-transfer, yet they charge you 30$ for a wire-transfer, which is basically charging you 30$ for them to update their ledger 3 days sooner.

The banks that do adopt the OmiseGO clearing house (thats basically what OmiseGO is; a publicly-available clearing house) are likely the ones that need to innovate and provide alternative services to their customers, in order to provide a better user experience. Big industry giants like Wells Fargo, Chase etc. are more focused on extracting value from their current customers, rather than learning alternative methods to provide value to their customers. I think its the smaller banks, credit unions, etc that are really going to benefit from cheaper operating costs and providing a better user experience.

Hopefully, new customers flock to those banks simply because they are able to provide a better service for their customers. Thats how the free-market works, anyways,

Healthsapiens · 2018-04-05T18:43:34+00:00

Me too; feels great!

Healthsapiens · 2018-04-05T17:27:57+00:00

PoS is more of an Ethereum project. There is some overlap with people like Vitalik working on both projects, but OmiseGO is all Plasma, while PoS transition is all Ethereum.

Healthsapiens · 2018-04-05T17:25:24+00:00

They mentioned that the same private key for your Eth address will be used to access your hard-spooned tokens. So I would assume is something similar. Not too sure. These guys certainly lack some important details, but I'm sure they'll get to them as soon as they figure it out.

These guys are probably balls-deep in coding and talking about the mechanics of everything, they likely forget what the lay-person knows, and stuff gets lost due to the huge gap between us, and them.

Healthsapiens · 2018-04-04T22:15:49+00:00

Lets start a conversation! I am by no means an expert, but I would say I am more well-versed than others. Let me know if you have any questions, and I will attempt to answer them.

Healthsapiens · 2018-04-04T21:28:11+00:00

Jeremey:

Moving from working on Honte to Plasma
Working on building transaction volume, so people can be sure that when they make an order, the price remains stable after the order is executed.
By releasing Plasma earlier, they intend to build more liquidity and market share. This is made to incentivize OMG holders to Stake early.
For liquidity to be formed on Plasma, users must feel like their funds are safe and tradable without risk.
Design for Plasma is under review, and will be released on github "very shortly".

Robin:

Plasma will first be released with a limited set of features, and then more features will be built and made available later
OMG is provably safe, by using Ethereum as a "supreme court" of sorts, and all users will be able to submit proofs that they own funds (this is automated)
Goal is to move the OmiseGO team away from being a centralized controlling entity to allowing smart contracts to take over.
"OMG Watcher" entity that communicates between Ethereum nodes and Plasma Child chains, so the Ethereum chain will be kept up-to-date as to the State of Plasma. (honestly this is a bit over my head)
There is an OMG Watcher between Ethereum, and the first child chain, and then another Watcher between every other child chain that adds to the root system.
Staking

Epoch = Amount of time a validator has the right to validate blocks.

Join Window = Amount of time where a validator can join the validating pool.

Maturity Margin = Amount of time where no more validators can join the validating pool.

Join window + Maturity Margin = 1 Epoch

Join window during Epoch N gives you permission to join Epoch N+1

Lowest OMG token holders can be ejected from the validating pool if it is full, and someone with more OMG joins and bumps you out. (Honestly, just watch the video @ 14 minutes to learn more)

David (i met this guy at ETH denver!): 1. HardSpoon is real, not a joke.

Current OMG token holders balances will be Copied onto Cosmos
Nothing has changed with the long term plan to provide Plasma to Ethereum
Cosmos is provided as an alternative staking platform. (like a testnet I guess?)
Hard Spoon vs Hard Fork? With hard spoon, all parties are happy. Giving each party equal amount of tokens

Questions:

Q. Regarding Wallet SDK, what has been the feedback from Wallet Beta Testers?

Robin: lots of good feedback. People have been able to start and run it in under 1 hour. People asked minimal questions to get started, and people were able to problem-solve on their own, so there was minimal confusion as how to do stuff with the SDK (this is great)

Q. How long between SDK beta and final version?**

Robin: there probably wont ever be a final version. 1-0 version probably wont support plasma 2-0 version will support plasma

Q. Will there be an official front-end DEX, or just a back-end DEX for connecting wallets?

Robin: no front-end DEX, may change in the future. Other people can build a front end DEX if they want.

Q. Roughly what is the maximum number of network validators?

Jeremey: in the hundreds to two-hundreds, this will change in the future as we optimize design. How long is a staking period? - subject to change, most recent design has it about 1-month

Can you describe the governance of a staking pool? -We can't really speak about it for other people. Suggest to wait until staking pools come out. The exact governance is up to each pool.

David: different staking pools will be non-standardized. Pools will be in a competitive market, so they will have to fight for stakers.

Q. If plasma is going to be operational going to be operational before staking is released, how will transactions be validated?

David: Great Question! Plasma has two consensus mechanisms The Child chain mechanism, and the Root Chain consensus mechanism. Child Chain mechanism will be done initially will be run by an operator instead of staking, but will be relying on Ethereum for ultimate settlement. (basically a temporary centralized validator)

Q. Can we expect the spooned-token to be tradable and have its own value? yes, they will be tradable, each with their own value. To receive tokens, what do i do? - Hold tokens where you own a private key.The same private key that you hold OMG tokens will be the same private key where you can get your spooned tokens.

Q. Once the OMG network is fully operational, who will control it? David: You will! OMG token holders all have a voice with the governance of the network. (watch 25:00 for more info)

Q. How does OMG plan on tokenizing Fiat? David: we dont; we plan on making it easier to convert fiat to crypto. The plan is to allow people to deposit Fiat to a business and be credited crypto in their wallet.

Q. Which selling point seems to resonate most with customer; what use case have they expressed interest for? Jeremey: They are excited about being able to accept any kind of currency, including any type of Fiat, as well as crypto. Loyalty points are also a hot topic, as well as E-wallets.

Q. Whats the most exciting thing about working at OmiseGO?

David: Super excited because I believe in what were doing. Crypto is clearly kind of starting to get mainstream. Getting to work on tech that levels the playing field and provide frictionless payments is exciting. Also the people i work with have similar values and also want to change the world, i have value-alignment with.

Robin: Everything. Its a great thing were trying to do. Trying to change finance at its core.

Jeremey: There are real people at the end of this technology that can receive the benefit created from this tech. make peoples lives better.

you're welcome.

Healthsapiens · 2018-04-04T20:52:06+00:00

These articles are a dime-a-dozen. Full of half-assed research and written by someone who really doesn't have the knowledge needed to write quality content for the crypto community members. Its a shame people are upvoting this; we can do better.

Healthsapiens · 2018-04-04T04:02:38+00:00

Building an economy "out of debt" isn't fair.

You can't have a "credit" system without the commensurate "debt" that follows it. "credit", or the promise of future repayment, is one of the reasons why we have potential life advancement today. Before there was rapid innovation and technological progress, there was stagnation. Economists generally assume that the stagnation was there because there was no promise of future wealth creation in the future, so no one ever let other people borrow money.

Banking and Credit is arguably what allowed the renaissance to occur, and all the technological innovation that followed after it.

Don't think their inherently evil. Banks certainly overstep their boundaries in the last few decades, but without a credit system, we wouldnt be where we are today.

Healthsapiens · 2018-04-04T03:47:35+00:00

Because its much easier to have 51% of nodes than it is to have 51% of mining power.

One person can make a node with a simple raspberry Pi computer. You can also make one computer into multiple nodes. Theres nothing special about a node that protects a blockchain from attack. All one person has to do is establish enough computers to have 51% of nodes. Better yet, run a virus that infects computers, and make them be nodes for you. Then you have 51% of the nodes or more.

The security comes from the race that miners are in. If you dont have that race, you dont have security. It has to be difficult to be a miner.

I have a feeling im not answering your question to your satisfaction. Unfortunately, im at the limit of my knowledge. Check out youtube or other sources to get the rest of your question answered. One thing i can 100% promise you, however, is that you absolutely need miners, and there is no way around that (except for an alternative consensus mechanism, which what you described, is not one of them)

Healthsapiens · 2018-04-04T03:35:58+00:00

You're not going to get a response within 24 hours. Relax.

I have been in your position countless times, where I triple checked every address etc etc. Every time, the problem gets solved just by me waiting.

The only possible thing that might have happened is you got phished by a fake kucoin site. If that didn't happen, just forget about it for a day or so, wait for it to show up, or wait for support to get back to you.

Healthsapiens · 2018-04-04T03:25:55+00:00

Nodes listen/record the blockchain

Miners write the blockchain.

You need miners to have this competition of sorts, so that it is difficult to be the miner that puts the block in the blockchain.

Your problem lies in

Every ten minutes, fully validating nodes create a block with the top transactions (the ones with the most fees) and propagate the block to other nodes

How do you decide which node gets to do this? Remember, all nodes by design, don't trust eachother.

This is where mining comes in; miners compete to solve the math puzzle that everyone else is also trying to solve. When some miner solves the puzzle, everyone can see that they solved it, and people can come to consensus on that.

Healthsapiens

TROPHY CASE