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hugohanoi's profile
Hugo Nguyen
Hugo Nguyen
Hugo Nguyen
@hugohanoi

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Hugo Nguyen

@hugohanoi

I chain, therefore I am ⛓️

Joined April 2012

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    1. Glen Hendriks‏ @GlenHendriks Mar 21
      Replying to @hugohanoi

      There are clear benefits for consumers as well.. #OST $OSTpic.twitter.com/rALs6DutFz

      1 reply 3 retweets 3 likes
    2. Hugo Nguyen‏ @hugohanoi Mar 22
      Replying to @GlenHendriks

      1, 2 & 4 are essentially rehashing the same argument & no, that doesn't explain how adding friction in the form of multiple tokens help the users. Having multiple types of currencies/credit cards/airline point systems is an inefficiency, not something to be proud about.

      4 replies 0 retweets 5 likes
    3. Hugo Nguyen‏ @hugohanoi Mar 22
      Replying to @hugohanoi @GlenHendriks

      3 is simply not true. The tokens lose all value if the airlines drop support for them or go under. Ownership of token != ownership of asset (in this case, real flight mileage).

      1 reply 0 retweets 2 likes
    4. blablabla‏ @ElGordodel2012 Mar 22
      Replying to @hugohanoi @GlenHendriks

      If you could use your failed airline/ droped tokens into another airline program, service or just convert it to fiat/crypto then problem solved?

      1 reply 1 retweet 3 likes
    5. Hugo Nguyen‏ @hugohanoi Mar 22
      Replying to @ElGordodel2012 @GlenHendriks

      you're assuming you can exchange the failed tokens for a good price? who would be the buyers of these failed tokens when you want to sell? 🙂 the moment they fail, their price on the market would immediately drop to zero.

      6 replies 0 retweets 1 like
    6. Glen Hendriks‏ @GlenHendriks Mar 22
      Replying to @hugohanoi @ElGordodel2012

      But that is the point.. if a business that has tokens made with OST fails, the tokens can always be swapped for OST (with use of the OST Wallet, no hassle with exchanges for consumers) to get their value back. This can then be spent at any OST based economy elsehwere.

      1 reply 1 retweet 3 likes
    7. Hugo Nguyen‏ @hugohanoi Mar 22
      Replying to @GlenHendriks @ElGordodel2012

      What? this doesn't make any sense. So OST the platform functions like a bank that guarantees the value behind the tokens? Are all BT-to-OST exchange rates fixed? (BT = 'branded token' using your terminology)

      4 replies 0 retweets 0 likes
    8. Glen Hendriks‏ @GlenHendriks Mar 22
      Replying to @hugohanoi @ElGordodel2012

      I fully recommend reading this:https://medium.com/@glen_hendriks/ost-explained-684938740e98 …

      1 reply 0 retweets 1 like
    9. Hugo Nguyen‏ @hugohanoi Mar 22
      Replying to @GlenHendriks @ElGordodel2012

      So when users have BTs, they are guaranteed a fixed BT-to-OST conversion rate. Apologies for not reading your article before making above statement. BTs are hard-pegged to OST, got it.

      6 replies 0 retweets 0 likes
    10. Hugo Nguyen‏ @hugohanoi Mar 22
      Replying to @hugohanoi @GlenHendriks @ElGordodel2012

      But with all due respect, I still don’t see the point. Nothing changes here. All you’re doing is allowing companies to outsource the risks normally associated with utility tokens (if the companies were to launch their own) to somebody else - the OST token.

      1 reply 0 retweets 0 likes
      Hugo Nguyen‏ @hugohanoi Mar 22
      Replying to @hugohanoi @GlenHendriks @ElGordodel2012

      The same risks still apply. Higher liquidity & volatility risks compared to using an established “money” token like BTC directly. More importantly, the risk of OST going under, which would instantly makes all OST & BT tokens worthless.

      2:33 AM - 22 Mar 2018
      2 replies 0 retweets 0 likes
        1. New conversation
        2. Hugo Nguyen‏ @hugohanoi Mar 22
          Replying to @hugohanoi @GlenHendriks @ElGordodel2012

          Not to mention the *added* risk of having to trust the OST platform & wallet for always honoring the fixed BT-to-OST conversion rates.

          1 reply 0 retweets 0 likes
        3. Hugo Nguyen‏ @hugohanoi Mar 22
          Replying to @hugohanoi @GlenHendriks @ElGordodel2012

          All this complexity for the sake of putting an extra layer of friction (multiple representations of essentially the same thing) in front of the user. Sorry but I don’t see the point.

          1 reply 0 retweets 0 likes
        4. Hugo Nguyen‏ @hugohanoi Mar 22
          Replying to @hugohanoi @GlenHendriks @ElGordodel2012

          To add: OST is essentially competing with BTC to be the backing asset here. But unlike BTC, which is decentralized & has something real behind it (the PoW chain), OST is centralized & is not backed by anything.

          0 replies 0 retweets 2 likes
        5. End of conversation
        1. New conversation
        2. Glen Hendriks‏ @GlenHendriks Mar 22
          Replying to @hugohanoi @ElGordodel2012

          Liquidity risks are common in emerging markets. Crypto, in general is an emerging market. BTC is very illiquid compared to any forex market. To suggest that BTC is not highly volatile: it is down 55% from it's ATH from 3 months ago. A few weeks ago it was down 65% from ATH.

          1 reply 0 retweets 0 likes
        3. Hugo Nguyen‏ @hugohanoi Mar 22
          Replying to @GlenHendriks @ElGordodel2012

          Hugo Nguyen Retweeted Hugo Nguyen

          Yes BTC is volatile but to think your OST token can have lower volatility / better liquidity than a $150 billion market cap currency is absurd. Seehttps://twitter.com/hugohanoi/status/976261795630407680 …

          Hugo Nguyen added,

          Hugo Nguyen @hugohanoi
          3/ If your token has a fixed supply, your users will always face higher liquidity & volatility risks than using BTC. Since the demand & market for sound money (which encompasses all types of services) will *always* be larger than the demand & market for any single service.
          Show this thread
          1 reply 0 retweets 0 likes
        4. Glen Hendriks‏ @GlenHendriks Mar 22
          Replying to @hugohanoi @ElGordodel2012

          Didn't BTC start out with being less than $1,- ? What was the market like back then? It didn't reach a 150Bil market cap overnight.. Look at how ETH grew due to network effects.

          1 reply 0 retweets 0 likes
        5. Hugo Nguyen‏ @hugohanoi Mar 22
          Replying to @GlenHendriks @ElGordodel2012

          Hugo Nguyen Retweeted Hugo Nguyen

          Yes but BTC's goal has always been a better form of money - an *universal* token. Your OST token (if works) serves a much smaller market - companies who want their own branded tokens. And this:https://twitter.com/hugohanoi/status/976756908202668035 …

          Hugo Nguyen added,

          Hugo Nguyen @hugohanoi
          Replying to @hugohanoi @GlenHendriks @ElGordodel2012
          To add: OST is essentially competing with BTC to be the backing asset here. But unlike BTC, which is decentralized & has something real behind it (the PoW chain), OST is centralized & is not backed by anything.
          3 replies 0 retweets 1 like
        6. Glen Hendriks‏ @GlenHendriks Mar 22
          Replying to @hugohanoi @ElGordodel2012

          #OST let's comanies of any size and any technical sophistication do it easy peasy (like said; in literally 10min I was up and running). That makes sense for businesses. It's hassle free, doesn't require recourses like blockchain developers and costs less.

          1 reply 0 retweets 0 likes
        7. Hugo Nguyen‏ @hugohanoi Mar 22
          Replying to @GlenHendriks @ElGordodel2012

          Hugo Nguyen Retweeted Hugo Nguyen

          1/ Let me ask you this, do you agree with this? Do you really not see a problem with a future where there're a zillion tokens?https://twitter.com/hugohanoi/status/976601990078713856 …

          Hugo Nguyen added,

          Hugo Nguyen @hugohanoi
          10/ Its the equivalent of having dollars, pesos, pounds, yen, renminbi, etc. in your wallet, and have to fork out the right currency & change at every merchant you go to. Its the epitome of needless inefficiency.
          Show this thread
          1 reply 0 retweets 0 likes
        8. Hugo Nguyen‏ @hugohanoi Mar 22
          Replying to @hugohanoi @GlenHendriks @ElGordodel2012

          2/ You need to solve the centralization problem- OST cannot be a single point of failure if it's really to be used by many people/services.

          4 replies 0 retweets 0 likes
        9. Hugo Nguyen‏ @hugohanoi Mar 22
          Replying to @hugohanoi @GlenHendriks @ElGordodel2012

          3/ I was going to type something but it's 3AM, my brain has stopped functioning & I need to go to bed 😅 later 👋

          2 replies 0 retweets 0 likes
        10. 1 more reply

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