500% return and 5 other reasons you should buy OMG
Atualizado
I've been watching OMG for a while. It had a great start in 2017 and has gone through a nice prolonged period of consolidation which has set it up nicely for a big leg 3 impulse drive. I have been trying to decide how much to invest and so did some research before deciding that this should represent a big % of my portfolio. I wanted to share a few key points with you all:
1. The opportunity vs Ripple (XPR) and Stellar (XLM)
They are in the same space as XPR and XLM (decentralized financial technology for exchange and payment services) but at 1/40th and 1/5th of their respective values. Given the pedigree of team and product (see later), OMG should be at least valued as much as XLM, which would give it a x5 increase.
2. The product
They are building on the ETH platform so they get all the benefit of the investment going into ETH without the cost base. Would you invest in Amazon or a company like Amazon that also has to build the road network, lorries, etc? They also have a product in a closed BETA state (last state before general release) and have a live implementation with a 'huge multinational company', you can read about it here.
3. Great team
VC backed with Ethereum founders (Vitalik Buterin and Vlad Zamfir) and the Thia Government (Thai Minister of Finances) as advisers. They were listed in the Top 10 companies in Blockchain by Coin Telegraph. They are currently recruiting a Head of Communications, which is needed and probably a large reason they are so undervalued vs their XLM and XRP peers.
4. Exchanges
Quality exchanges giving good liquidity (Bitfinex, Binance, Bittrex). The Koreans are yet to jump on board, which will create demand. It has also been identified by quiet a few commentators as having a high chance of being listed by Coinbase. Goldbug1 has a good post here.
5. The TA stack up
We are in the 3rd leg of an EW. Projecting out the current momentum takes us to about $150+ by Feb - which would put it slightly above (XLM), which many believe is more than justified given its product and team fit.
I bought into ETH in January 2017 and enjoyed a great ride. I have done the same with OMG over the past week and I'm hopefully on a similar ride in 2018, it would be good to have a few passengers with me!
1. The opportunity vs Ripple (XPR) and Stellar (XLM)
They are in the same space as XPR and XLM (decentralized financial technology for exchange and payment services) but at 1/40th and 1/5th of their respective values. Given the pedigree of team and product (see later), OMG should be at least valued as much as XLM, which would give it a x5 increase.
2. The product
They are building on the ETH platform so they get all the benefit of the investment going into ETH without the cost base. Would you invest in Amazon or a company like Amazon that also has to build the road network, lorries, etc? They also have a product in a closed BETA state (last state before general release) and have a live implementation with a 'huge multinational company', you can read about it here.
3. Great team
VC backed with Ethereum founders (Vitalik Buterin and Vlad Zamfir) and the Thia Government (Thai Minister of Finances) as advisers. They were listed in the Top 10 companies in Blockchain by Coin Telegraph. They are currently recruiting a Head of Communications, which is needed and probably a large reason they are so undervalued vs their XLM and XRP peers.
4. Exchanges
Quality exchanges giving good liquidity (Bitfinex, Binance, Bittrex). The Koreans are yet to jump on board, which will create demand. It has also been identified by quiet a few commentators as having a high chance of being listed by Coinbase. Goldbug1 has a good post here.
5. The TA stack up
We are in the 3rd leg of an EW. Projecting out the current momentum takes us to about $150+ by Feb - which would put it slightly above (XLM), which many believe is more than justified given its product and team fit.
I bought into ETH in January 2017 and enjoyed a great ride. I have done the same with OMG over the past week and I'm hopefully on a similar ride in 2018, it would be good to have a few passengers with me!
Nota
Thanks for dropd01 for pointing out another benefit of OMG. Whilst OMG will utilise and integrate heavily with ETH, it will run some of its own network which will use Proof of Stake (POS) rather than POW. In this scenario, owners of coins are paid for the use of the service (rather than miners). Discussions can be found on these two links: reddit.com/r/omise_go/comments/7fedkm/how_to_stake_omg_for_people_how_dont_have_a/
reddit.com/r/omise_go/comments/7aohbt/anyone_have_any_idea_about_how_much_in_fees_you/
Nota
I have a mixture Crypto long term and Trading facilities which I switch between cash and coins depending on if I feel we are bearish or bullish overall (mainly influenced by BTC). Apart from a bit in ETH, I have all my trading cash out on the sidelines, waiting to see BTC stabilise.In the meantime I am looking to manage my crypto positions to outperform the market. So whilst OMGUSD has taken a bit of a battering I'm comparing this to the market right, I'm content and still feel we are bullish vs the market (primarily BTC):
Resistance turned support at 1600 has held (382 fib of last main bear structure from Sept to Dec).
There is an inverse H&S pattern forming.
There is resistance at 1800-1900 from a previous high (0.5 fib), this will be OMG's next challenge.
Nota
We ended up getting a double top. But it's holding well considering what's happening in the wider market. We've just held the 100 MA and upward trend line. Still looking bullish to me.Nota
New commentary here:
Nota
Latest commentary here (I'll stop updating this one now):
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