Guest Posted August 25, 2017 Share Posted August 25, 2017 If anyone in the Irish brigade is invested in OMG (if you're not, you should definitely look them up), I've got a relatively small stack (123 tokens to be precise). When proof of stake starts in 2018, you will be able to use your tokens on the OmiseGO blockchain and earn fees for verifying transactions. Essentially your tokens will be working as miners while appreciating in value. As far as I'm aware, you will need to stake a minimum of 1,000 tokens which is a pretty large chunk of cash at today's prices (about €7,000). I don't expect prices to come down from where they are now, in fact there's a good chance they may be in for 100x increase in the near future. Im not going to increase my own stack to over 1,000 so I was going to see if there was any interest in maybe combining tokens with other investors and establishing an OMG pool. Ideally we meet up in person to establish trust and planning etc. It wouldn't be starting until sometime next year and as of now, nobody really knows what the fees earned might be but it could be huge.. Either way, OMG is definitely worth an investment even if you're not interested in staking. Link to comment Share on other sites More sharing options...
Heisenberg Posted September 4, 2017 Share Posted September 4, 2017 @Niall just seeing this post now. Yes I invested in some, however its only a quarter of your stack. I would be purchasing more, however am in the process of trying to buy a house, so not much free capital. Plus I do not want to run the risks of banks refusing my application, due to excessive "gambling" on crypto. If others are interested however, I would be up for pooling our resources. Link to comment Share on other sites More sharing options...
Guest Posted September 4, 2017 Share Posted September 4, 2017 (edited) @Heisenberg, thanks for the reply. Yeah, I'm not sure how Irish banks view crypto, most probably don't have a policy yet, although I know some American banks have been closing accounts once they see funds going to crypto exchanges, so best to be on the safe side. I personally use a dedicated bank account for crypto and a regular "clean" account for everything else. Yeah, it would be great if we had some more interest and established a pool at some stage. Best of luck with the house purchase! Edited September 4, 2017 by Guest Link to comment Share on other sites More sharing options...
Heisenberg Posted September 4, 2017 Share Posted September 4, 2017 I never thought of a separate clean bank account for crypto. Although they typically want statements of all bank accounts so not sure how I could hide it, bar lodging in cash to the crypto account. Let's hope we get more interest, or even a chance to increase our stacks. Link to comment Share on other sites More sharing options...
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