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RE: Why OmiseGO is so highly anticipated 🤑 All you need to know as an investor (indepth)
wow that was really informative. I didn't realize that the fees generated are going to be redistributed among the OMG holders - that's awesome. I still don't understand the part about the plasma sub chain but thats my issue with not be technical enough.
On another note I was able to update my ledger yesterday. Support at ledger helped me out. Not going to lie - i was pretty scared the last few days hahaha
Yes! The token dividend system is why I am very excited about OmiseGO. It has the potential to bring in a lot of earnings which in turn should increase the token price significantly! I got very excited about this when I researched the passive income crypto's. NEO and OMG were my prime picks at the time.
Super awesome that your ledger problem got solved! I completely understand your panic, haha, I would have the same thing. Even if you know you have the passphrase you won't feel at ease until you actually log in and see the crypto there!
I actually purchased a second ledger for this very reason... What if I spill coffee on my ledger, I asked myself? Or what if I break something, lose it or it gets stolen? It would be the same as getting it bricked... having to re-order and waiting for weeks on a new one, being locked out of my funds, would be terrible!
So I took the plunge and just got a second one. Yes it's costly kinda but I do feel a lot more certain with it. I've also split up my funds over the two ledgers, which helps with the $5 wrench attack (where a burglar uses a simple wrench to physically beat the passcode out of you).
Additionally, when this software update occurred I first updated one of the ledgers which held the fewest funds, to minimize risk. And I knew that if it went wrong, I could always restore both accounts on the single ledger through the backed-up passphrases.
Especially after your most recent experience, and depending on how much crypto you own, I'd recommend considering getting a second one too!
yeah getting a 2nd ledger is definitely a good suggestion. I should just take the plunge and do it.
"wrench attack" haha that pretty funny. I've never heard phrase before, but I like it
It's actually a relatively common term! I like it too and think it's funny too.
It is intended to point out that no matter what super high tech nerdy security you go with, the most likely scenario is actually that somebody will get a simple wrench or baseball bat and force you to give up the codes, instead of actually hack you. It's going to be more and more common in the future I believe..