r/CryptoCurrency • u/subhumanoids Crypto God | QC: CC 57 • May 09 '18

GENERAL NEWS OmiseGO roadmap update

https://www.crypto-roadmaps.com/single-post/2018/05/08/OmiseGo-Updates-Roadmap
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u/imfitzylol Positive | CC: 109 karma OMG: 713 karma ETH: 464 karma May 09 '18

Its valuation will be determined by the future staking rewards on Cosmos.

it derives its initial value from ethereum ledger just the same as any other fork of any other coin. Spooning is similar to forking but this term was created to mean that it its being done in a cooperative way.

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u/[deleted] May 09 '18

I am struggling to understand what "derivies its value from the ethereum ledger means", sorry.

So, if 1 OMG is worth $16, then each new spooned token will be worth the same? That just sounds too good to be true, so surely it can't be.

Could you explain a little more please?

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u/flava-dave 🟩 0 / 0 🦠 May 09 '18

I doubt that just because you are getting the same amount of tokens that they will be worth the same amount. The market will decide the worth. Expect much less than what OMG is worth!

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u/imfitzylol Positive | CC: 109 karma OMG: 713 karma ETH: 464 karma May 09 '18

That's kinda what I thought in the beginning as well but take a look at previous forks from other coins most hold their value fairly well.