Augur REP added To Coinbase
It seems like Coinbase is loving some of the tokens from Ethereum cryptocurrency. One thing I need to start looking into is if the value of these tokens will increase the price of Ethereum or not. I would suspect it would however unsure as to the fees etc involved with Ethereum tokens. If you have some resources on this please include it in a comment thank you!
AUGUR REP has been added to Coinbase as a coin you can now buy and hold.
What is AUGUR ?
Augur honestly was a coin I got into a while back based on the background of it.
It is a cryptocurrency that powers prediction markets. It can be used to bet on sporting events, political outcomes, economies and anything else in which predictions can take place.
I feel like this is a powerful project as the amount of money currently spent on prediction outcomes is massive and continues to grow in areas such as politics and also gambling. The gambling industry in itself is $52 Billion dollars a year industry so even if a small percentage of it was used with Augur you could expect massive growth.
Augur smart contracts come in the form of prediction markets, where participants use ETH and DAI to place bets on all manner of sports, weather, politics, scientific and medical discoveries, economics, current events, and more.
Augur total coin supply is also 11,000,000 and was created on an ICO from August 17 to September 5th 2015. The entire project raised over 19 thousand bitcoin and over 1.1 million in ETH.
Augur currently trades roughly 10 million dollars a day with trading pairs in ETH, BTC and USDT as well as other Fiat currency.
What are you thoughts on Augur?
Have you used it yourself for anything ?
Have never heard the name "Augur" before. but i have learnt that it is traded round $22. but what do you mean by Augur "...powers prediction markets"???
Kinda like decentralized betting events.
You(by paying a fee in REP) can open a betting event.
All funds are held in smart contracts.
Events are then decided by a staking war-the one who stakes more makes the event real(this is the key issue that needs fixing but for the most part does not have an issues)
This has been an interesting project to follow but have been surprised that the usage of the Dapp has not been better. I have not reviewed it closey but probably will as prediction markets have always interested me.
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