Bitcoin Forum

Dear all,

I have to admit I am a little confused on how is working Augur using the Ethereum blockchain since I can hardly answer a few questions that come to my mind.

First of all, I do not really understand why Augur is using a different currency that Eth since it is running on ethereum platform and thus needs to use eth as a fuel. Could someone explain me the advantages of it and the consequences?
Moreover, and I don't know if this is related, Augur has no marketcap (http://coinmarketcap.com/currencies/augur/) and I was wondering why.

Thank you in advance for your answers

"You will be able to use any currency on Ethereum that conforms to the standard API for subcurrencies...."
https://www.reddit.com/r/Augur/comments/3w6wed/how_does_bitcoin_and_etherium_play_into_augur/

REP is not yet traded on any exchange so maybe coinmarketcap does not want to list a marketcap based on off market or REP equivalent (gatecoin uses a form of REP IOUs not REP itself) pricing data.

https://gatecoin.com/
REP supply is 11 million so you can easily estimate the marketcap with OTC sales data or gatecoin REP equivalent trade data if you want.

https://gatecoin.com/blog/2015/10/gatecoin-launches-rep-trading/

...How did we achieve that?
We pooled some of our largest customers to buy REP through our platform, enabling them to list their tokens on our exchange.

As a result, our customers are now the only ones in the world to be allowed to buy and sell REP!...

http://coincurrencynews.com/2016/02/26/augur-rep-only-sold-on-gatecoin-exchange/

...It’s true, so far, the only exchange to be selling the Augur coin is Gatecoin Exchange. However, there have been rumours that the coin could make its way to other exchanges in the future. While at this time, the prices have been climbing, it is tough to say whether they will hold, or what this coin will exactly do. So far, it is being likened to a “reputation” coin, hence the (REP) ticker. That means that if you are getting a bad rep on the internet you can pay some REP and increase your popularity?...

https://augur.zendesk.com/hc/en-us/articles/205129442-When-will-Augur-s-REP-tokens-go-live-for-trading-What-about-exchanges-already-trading-them-like-Gatecoin-

Your explanation of what rep is is retarded.

Rep allows you to earn money from reporting on the reault of bets on the augur decentralised prediction market.

Augur is a prediction platform, which uses the principle of the wisdom of the crowd. This platform has can be a gamechanger on all kinds of prediction markets: elections, gambling, weather, etc.

https://www.youtube.com/watch?v=yegyih591Jo

In an Augur prediction market, the market maker gets half the fees from the market, and the reporters get the other half. REP holders will be expected to report on the markets. So holding these REP coins will give you a revenue stream related to how successful Augur is as a whole.

Augur is very new crypto, better look only on Ethereum - it have some popularity at least. Many cryptos nowadays lasts only months and not more.  :-[

Thank you for the answer, appreciate it.

Augur looks very promising, will be my new betting playground.

Same here, already got my stake in Augur.

Augur has now completed the proposal stage. After the commitment stage is complete, Augur Stack Exchange will be born. Help by visiting the link below:

http://area51.stackexchange.com/proposals/106367/augur

Stack Exchange is great. Visit http://ethereum.stackexchange.com/ to learn why. Very few projects have made it as far as Augur has already with its Stack Exchange effort

Augur does give interest on your holdings with them. So it is a promising platform I am looking to join soon.

I already joined as a year, and while I'm happy nothing...The rate only falls

Ah ok thanks for the info. Won't be putting any bitcoin into it. ;)

Put simply, Augur uses Ethereum's smart contract capabilities to replace central betting authorities with a token system.

does anyone know of a site we can predict when augur will be a functioning prediction site? its been close to 2 years. joey and company are jokes and so are all of you trading this shitcoin with zero utility.

Rep or iconomi are like pyramid scam, the people who pocketing your money are at the top and doing nothing.

Yep, because you're such a trustworthy guy people will take your words for it:Trust: -4: -2 / +0
Warning: Trade with extreme caution!

augur is a joke. i can blow your trust level to look like a rosie odonells period if i wanted to.

I still don't get how can this work if majority of
reporters report a false statement.

What prevents the "majority" of token holders to play dirty?!

Why though? I mean Ethereum seems to be a steadily growing currency which is sort of connected with Augur quite a lot. How could it happen that "the good Ethereum" is in such a close connection to the "bad Augur"? I'm just asking since all the threads here are not really giving answers regarding the connection and also the bad reputation of Augur. Also I can't give any advice on Augur myself since I don't have any practical experience with it..

Because he doesn't own any ardor tokens. Or he hopes to buy them cheap. I do not own ardor tokens too but i have higher moral values and won't attempt to fud hoping i'd make people sell lol.