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+--- Thread: [OMC] What can we do to get OMC back on the map? (/showthread.php?tid=5033376)
What can we do to get OMC back on the map? - Who Soup - Oct 24, 2015
A few years ago I saw some amazing potential in OMC and crypto currency mining; so much that I even purchased a pretty good mining rig for it's time.
I mined quite a bit of OMC in a good amount of time and made enough to keep the operation profitable. Selling my OMC wasn't a problem as people seemed to want it even though there was no OMC award or 3p1c group at the time.
Now, I fell that burst mining destroyed OMC bringing the difficulty so high that small miners can't make a profit off of it which is why almost no one mines any more. With that being said though, I understand that quantity doesn't necessarily bring up the price, as it has to have the faith of people to keep the demand up as well. I feel as if people lost hope with OMC and the market has become stagnant. People often don't care to go through the "extra step" of exchanging their BTC to OMC to PP. I feel as if people don't use it because one of the main reasons BTC is so popular is because it is widely accepted, fluctuates at a good price so people want to day trade with it, and arguably the most important point that it's anonymous. I feel as if OMC doesn't meet any of those points.
So where can we go from here? How can we re stimulate the market? I know some have suggested to switch the algorithm to something that can be CPU mined, and others including my self have suggested creating a physical omnicoin but I don't think it would be profitable. I believe for any change to happen it will take both the community to trust OMC again as a solid currency as well as the developers to stop burst mining as well as bringing back down the difficulty for it to become stable again.
* - -Taunt - Oct 24, 2015
I don't use OMC, i only got it for the upgrade and award, but i do agree with the last sentence. "I believe for any change to happen it will take both the community to trust OMC again as a solid currency as well as the developers to stop burst mining as well as bringing back down the difficulty for it to become stable again." -Who Soup.
* - Balding - Oct 24, 2015
I feel like the only way to get it going is to make more uses for it. Something like epic or the omnicoin award. I feel like a lot more people will use it then.
* - Who Soup - Oct 24, 2015
(Oct 24, 2015 04:59 PM)Bald. Wrote: I feel like the only way to get it going is to make more uses for it. Something like epic or the omnicoin award. I feel like a lot more people will use it then.
honestly though it comes to the point where the admins can only make so many things. Users are going to have to adopt the coin and make products/services.
I think what I said about "day trading" with the coin is also a sure way for people to adopt the coin, because people will buy and sell a lot at once.
* - 420 Blaze It - Oct 24, 2015
Instead of adding a reward, we need actually people to sell OMC only products.
* - Balding - Oct 24, 2015
(Oct 24, 2015 05:07 PM)Who Soup Wrote: honestly though it comes to the point where the admins can only make so many things. Users are going to have to adopt the coin and make products/services.
I think what I said about "day trading" with the coin is also a sure way for people to adopt the coin, because people will buy and sell a lot at once.
(Oct 24, 2015 05:10 PM)420 Blaze It Wrote: Instead of adding a reward, we need actually people to sell OMC only products.
The next product I release I'll probably only take OMC just to help the cause.
* - Truth - Oct 24, 2015
Have a integrated wallet on HF.
Seriously 3p1c
* - Payloads - Oct 24, 2015
(Oct 24, 2015 05:14 PM)TryAgain Wrote: Have a integrated wallet on HF.
Seriously 3p1c
Hmmm honestly an integrated HF wallet would actually be super sick! Good idea bro 🤝
* - Who Soup - Oct 24, 2015
(Oct 24, 2015 05:10 PM)420 Blaze It Wrote: Instead of adding a reward, we need actually people to sell OMC only products.
The reason why people don't want to though is because they don't want to go through the extra steps of exchanging it for btc then from btc to pp.
I personally just don't like using the official exchanging sites I rather just exchange it with someone from HF and I feel as if a lot of people would agree with me.
* - Cameron - Oct 24, 2015
Another OMC award maybe, say you needed for example 500k or 1m OMC to get the award. There could only ever be a maximum of 13 or 26 people with the award. This would definitely increase volume and the value of the coin plus take a lot of the supply off the market. You could sell your coins although you'd lose the award. Pretty lame idea but it's all I've got for now, if anyone wants to add onto this go ahead.
* - KillαMuvz - Oct 24, 2015
(Oct 24, 2015 05:56 PM)Camerοn Wrote: Another OMC award maybe, say you needed for example 500k or 1m OMC to get the award. There could only ever be a maximum of 13 or 26 people with the award. This would definitely increase volume and the value of the coin plus take a lot of the supply off the market. You could sell your coins although you'd lose the award. Pretty lame idea but it's all I've got for now, if anyone wants to add onto this go ahead.I already suggested that to Omni and he said no :/
* - SIM-2015410 - Oct 24, 2015
(Oct 24, 2015 05:58 PM)KillαMuvz Wrote: I already suggested that to Omni and he said no :/
Omni doesn't want more ways to get himself Omnicoin. We need more ways to encourage members to send OMC to each other. Hence the signature seller plugin Omni has plans for - it will encourage members to accept omnicoin in return for signature space.
* - Cameron - Oct 24, 2015
(Oct 24, 2015 05:58 PM)KillαMuvz Wrote: I already suggested that to Omni and he said no :/
Well poop. :(
(Oct 24, 2015 06:19 PM)MeshCollider Wrote: Omni doesn't want more ways to get himself Omnicoin. We need more ways to encourage members to send OMC to each other. Hence the signature seller plugin Omni has plans for - it will encourage members to accept omnicoin in return for signature space.
Well my suggestion never said anything about the OMC going to Omni. You'd get the award if you had X amount of OMC on the addresses signed to your HF profile.
* - SIM-2015410 - Oct 24, 2015
(Oct 24, 2015 06:21 PM)Camerοn Wrote: Well poop. :(
Well my suggestion never said anything about the OMC going to Omni. You'd get the award if you had X amount of OMC on the addresses signed to your HF profile.
Oh, just to encourage holding? I thought you meant it was purchasable. Sorry, my mistake.
* - Seasonal - Oct 24, 2015
I personally have been telling people they can pay me with OMC but no one seems to ever have it honestly.
So making "only OMC" product.. dont know how well that will work