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/biz/ - Business & Finance

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13155896 No.13155896 [Reply] [Original]

OMISE ACQUIRED BY CP GROUP WHAT THE FUCK OMISEGOYS AAAAAHHAHAHA NONONONO

https://www.theblockcrypto.com/2019/03/29/thailands-richest-company-acquires-firm-behind-omisego-token-for-more-than-100-million/

>> No.13155930

>CP Group
kek

>> No.13155945

>>13155930
>CP group
>CP
>Thailand
we're all gonna make it u fucking tranny lovin faggots

>> No.13155986

AAHHH NONONO CHINKED AGAIN!!!

>> No.13156024
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13156024

>> No.13156051

Arent req partnered with them aswell?

>> No.13156062
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13156062

>>13155896
>https://www.theblockcrypto.com/2019/03/29/thailands-richest-company-acquires-firm-behind-omisego-token-for-more-than-100-million/
Is this true ?? just bought 20k OMG at 49k

>> No.13156065

>>13155896
>mfw OMG was just a ploy to justify worth for the acquisition
AHHHHHHHHHHHHHH

>> No.13156077

youre a retard if you cant understand why this is beyond bullish.

>> No.13156080

This means Jun thinks OmiseGO is worthless. Why would you sell if you had total control of a world changing project?

>> No.13156082

Jun hyped it and misrepresented 'progress' to us and now he just offloaded the company to some boomer company who sees the word "blockchain".

Got to hand it to him.

>> No.13156096

>>13155896
article says OMG is a top 20 token and provides no source, it looks amateurish
pls tell me it's not fake

>> No.13156105

>>13155896
>Thailands richest company purchases omisego

>this is somehow bad

I don't even hold any OMG but you sound like a fucking retard OP

>> No.13156107

WE ARE THE OMISEGOYS AND WE ARE NOT FUCKING SELLING


#ASIAHUSTLED

>> No.13156135

Dont you dumb fucks know what this means, CP group owns fucking half of thailand.

Seven elevens, walmarts, true, ascend etc.

Dont you cunts get it, omg is going to be used fucking everywhere now

>> No.13156136

Well that's one way to exit scam. New owners can dump their tokens at will.

>> No.13156197

>>13156135
Now that is an intelligent comment.
Learn from this anon, fools !

>> No.13156207

4000 omg and comfy°

>> No.13156229

Will I make it with 1600 OMG?

>> No.13156245

>>13155896
Fuck homies. THIS CAN BE MASSIVE. IMAGINE THEY PUT ALL THEIR LOYALTY POINTS FOR THEIR BRANDS ON THE NETWORK

>> No.13156248

This is YUUGGGEEE news. CP is going to use omg to process the payments of ALL their thousands of businesses. Strap in boys

700 OMG locked and loaded

>> No.13156276

>>13156248
>less 1k
not gonna make it

>> No.13156289

OMG holders sitting COMFY

>> No.13156296

>>13156276
He will make it 70% which is good

>> No.13156336
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13156336

Right before external testnet. Buckle up buckaroos

>> No.13156340

>>13155930
niiiice

>> No.13156414
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13156414

If youve been on this board and know enough to own LINK, but not OMG, you deserve to be poor.

>> No.13156456

7900 omg, am I going to make it?

>> No.13156472

>>13156456
Just 100 more and you can make it twice. Jealous of the stack though anon, must be comfy.

>> No.13156510

>>13156472
i've been buying constantly since august 2017, so no, it hasn't been comfy so far, but I know one day I'll be very, very, very comfy.

>> No.13156599

>>13155896
chinked

>> No.13156642
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13156642

>>13156414
I have both, how intelligent am I?

>> No.13156676

Is Jun still working with omise and omisego or is he running off with all the money?

>> No.13156686

>>13155896
>OMG being owned by the 4th wealthiest family in Asia.
>Biz thinks this is bearish

The absolute state.

>> No.13156710

LOL nice pump omisegoys enjoyed 10 min of it
back into the red u go ahha

>> No.13156743

>>13156710
Thank god. Now I can get more before it goes up.

>> No.13156744

>>13156472
whats significance of 4k?

>> No.13156767

>>13156105
Well it could in theory make the token absolutely fucking useless

>> No.13156774

>>13156744
it's a /biz/ meme newfriend from when this board worshipped OMG

>> No.13156862

>>13156686

Not only the 4th richest family, but CP is one of the biggest conglomerate in the world rn.

Apples revenue was 240 billion,

CP's was almost 50 billion

>> No.13156874

>>13156767
>" CP Group, headed by Fortune-owner and billionaire Chatchaval Jiaravanon, is said to be driving a concerted effort to take over companies that could use crypto for payments; including a large agricultural division."

>> No.13156880

>>13155896
Daily reminder ICO price was 1 Eth for 1000 OMG tokens. You are still buying the bags of people who are still up 100x

>> No.13156925

>>13156676
Answer me omisecucks. I paid $1.10-$1.20 for this shit. I want to know if Jun is still going to be working or is he running away with it all.

>> No.13156940

>>13156676
You won't hear from Jun again. He has exited. Their subreddit is crying for news from them not realizing he is no longer with the company.

>> No.13156980

>>13156925
>>13156940
Nobody knows wtf is going on. I've worked for two companies that got acquired and each time the executives had to stay with the company for a specified period post-acquisition

>> No.13156981

>>13156925
You know the “OMG is a scam” shit is a meme, right?

>> No.13156998

Do you guys realize how low $150 million is. Omise must have been doing worse than we thought.

>> No.13157001

>>13156940
Guess I'll have to wait for legitimate info, all shill bots and mutipost fuds from fags like you.

>> No.13157058

>>13157001
You won't get it. CP Group owes you nothing and showing their hand just makes them weaker in the marketplace.

>> No.13157095

How the fuck is this bullish news? He sold his entire Omise company, they are going to drop OMG and just use the payment system.

>> No.13157150

>>13157095
That is one possibility anon. This is peak uncertainty and it can be huge news: bull and bear. CP might just kill the whole project

>> No.13157499
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13157499

>>13156510
>so no, it hasn't been comfy so far, but I know one day I'll be very, very, very comfy.
Same anon
>september 2017
>4200 omg
>~$6 dca

>> No.13157547

>>13157499

we're going to make it anon. we're right on this play.

>> No.13157587
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13157587

>>13157547
Good people and smart money.
>Blessed are the meek: for they shall inherit the earth.

>> No.13157875

>>13157095
That won't make sense, Omise generates around 4 million a year in revenue but they got bought at 150 million. They can dump their coins but plebs would know and they would start dumping too and CP would never recoup their money.

>> No.13157952

>>13157875
Based Migger

>> No.13158132
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13158132

mfw I go from being a simple OMG holder to a profiteer from slave labor overnight

>> No.13158176

>>13158132
lmao

>> No.13158179

>>13157875
Jun doesn't have any more about liability selling OMG tokens. He can simply say he isn't involved and bag holders will eat that shit up.

>> No.13158186

>>13158132
B A S E D

>> No.13158197

>>13156880
Wrong, ICO price was 24 cents/token so not even 10x up.

>> No.13158215

They are exiting, retards.

>> No.13158318

All the fucking idiots who say this is good are absolutely fucking retarded. This is terrible news, and at best highly uncertain.
Just running basic numbers here, which most of the faggots above cannot do:
Acquisition price: $150m
This price is always multiples of profit, no one fucking sells their business for 1x earnings, they would just make it back in a year.
Tech and high growth companies easily fetch 10-20x multiples.
Give these chinks the benefit of the doubt and they sold for a "low" multiple 3x, which is for stable, established businesses. This implies 50m of profitability.
Holy fucking shit, this shows how fucking dishonest and bullshit Omise was. They make fucking absolutely nothing for a payment processor.
50m in fees per year / 100m tokens (of the 140m total tokens) = $0.5 per year staking rewards per token.
OMGFags BTFO. You need 200k OMG tokens to barely escape poverty.

>> No.13158358

>>13158318
but then why would cp even want to buy this piece of shit company

>> No.13158377

>>13158358
Personally my best bear argument on this is that they want to squash external crypto payment channels. It's not worth the risk of this network blowing up and scraping fees when they can buy it off on the cheap.

>> No.13158384

>>13158358
Eliminate the middle man processing chink company Omise and save tons of money just processing it themselves.
Are you fucking retarded? Do you even know what half of crypto is about? Cutting out the middle man, payment processors are quintessential middle men, that are excess fat and just cause higher fees for all participants.
They're also a multi-billion dollar conglomerate they could give two shits about 150m.
For a conglomerate this size, you wouldn't even need executive or board level approval. The VP of acquisitions could make it with his pen.

>> No.13158406

>>13158318
Are you fucking baiting? You know that if we get $0.5 per year per token it's fucking good for OMG? Maybe not for moonboys who have pocket change invested in OMG though

>> No.13158443

>>13158406
I was highly generous in the assumptions to get to $.5 per year per token, in reality they likely generate 15m in profit, which would put the rewards at $.15 per token.
I have 100k OMG so I don't giver a fuck, but most of you fags are absolutely fucked.

>> No.13158449

>>13158384
You have to admit though anon, if CP put serious investment into OMG and pushed it through their merchant empire they could make a ton of sustainable revenue in fees, not just cost reduction for themselves but also a new service lines for merchants outside their conglomerate. They'd want 80% of the network to stay decentralized to minimize infrastructure costs and ensure it keeps running. There's a pretty good argument to be made for keeping the OMG network esp with the release of the Shinhan Card pilot.

>> No.13158465

>>13158449
Whole lot of IFs there you stupid fucking cunt, which is why I said this news is at best highly uncertain, and not really good new at all.
They could easily scrape the whole fairy, "you suck my dick and i'll suck yours" decentralized crap, use Omise's current infrastructure process all the payments you are referring to, yet since its an wholly owned subsidiary charge half the fees Omise did as a arms-length party, effectively destroying Omise's profitability, yet saving the conglomerate 50% in fees.
You guys are fucking retarded for being on an underwater cambodian basket weaving forum.

>> No.13158485

>>13158465
Oh shut the fuck up nigger, you're speculating as equally as I am.

>> No.13158506

>>13158485
You shut the fuck up faggot, I'm not speculating shit. This is terrible fucking news and proves once and for all Omise never generated shit for profit.
Lmao 150m for a payment processing company, you're absolutely fucking retaded.

>> No.13158526

>>13158506
>owns 100k tokens of apparently a totally fucked and incompetent company
>calls me a retard
like pottery

>> No.13158535

>>13158526
>link whale
>bat whale
>omg whale

I hedge my bets. fag

>> No.13158573
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13158573

So I'm not ganna make it with 1000 OMG? fuck

>> No.13158596

>>13158573
Definitely not, I'm sorry.

>> No.13158614

>>13158573
Unfortunately we were off by a factor of 100. You need 100k. We forgot 1000 OMG cost 1 ETH at ICO.

>> No.13158617

>>13158596
why did you buy over $100k of OMG?

>> No.13158631

>>13158443
$0.15 per token would be good too honestly (at least for the first 2-3 years)

>> No.13158644

>>13158631
You're absolutely fucking braindead. The reasonable estimate - before this bullshit news came out - was always $3.65 per token per year. Look at you fucking boomer cope like a faggot.
w-w-well $.15 is good too right guys!

>> No.13158813

>>13158644
fuck off retard, $3.65 was a meme like LINK $1000 eoy, nobody has ever believed this

>> No.13158820

>>13156051
the most bullish sign, /biz/ doesn't deserve OMG. miggers stop fudding.

>> No.13158843

>>13156080
this

>> No.13158864

how the fuck did Jun do it?
junglegook on the verge of bankruptcy to multimillionaire in 2 years

>> No.13158874

>>13158864
Tricking redditors is like shooting fish in a barrel.

>> No.13158903

>>13158864
chinked them all
he's no justin sun tier prodigy but he still plays the hustle well enough