What is Augur?
Augur is an online playing market, with $5 million of backing, that runs on Ethereum.
Users get a hold of propositions, most of which can be driven by movements.
Who will win the election?
When will Frank Ocean free up an album?
How low will Bitcoin drop this month?
Interface of Augur.net (example)
It’s one in every of a couple of cyptocurrency structures, together with Hivemind and Gnosis, where users can anonymously gamble on pursuits. operating fees are low enough to make Vegas casinos feel disgrace, checking out who uses them would be devilishly tricky, possibly even unattainable.
For now, the wagers and payouts are in play funds, not even cryptocurrency, but if that adjustments, legally or no longer, these anonymous prediction markets might seize a part of a multi billion pie, and perhaps greater.
The creators declare factors some distance loftier than mere income or a libertarian philosophy; their activity, they say, is a component of a protracted and noble quest to grasp what the long run holds.
Their products are a kind of apotheosis of the “wisdom of crowds” speculation, that the views of big groups of individuals have high predictive vigour. having a bet? Hmpf.
Clearly, the platform will appeal to bookies, if they still exist.
Is the same "earning model" as Steemit? No.
This remembered me the movie: "Two for the Money". Let's say the 2016 remake :)
A big difference with Steemit, Augur is a "gambling" platform you can buy and sell shares of your predictions.
Steemit pays for contents. Is like to compare Gambling with Work.
Conclusion
In the hope that Augur will grow up, i'm trying the platform. Click here to go there :)
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