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I have a question that might not just apply to WGR, but any ICO. What if Wagerr really takes off as a success story and some larger non-blockchain gambling company acquires it? What happens to the value (or even the existence) of WGR tokens in their current form? Since our WGR tokens are not an "investment" or stake in the company, could the acquiring company just eliminate WGR all together and replace it with a new online token or currency? Would the company be obligated, either legally or via an effort to keep the Wagerr customer base, to maintain the WGR tokens or convert them to a new token/currency?
This just might be one of the risks with getting involved in any ICO.
I follow your line of thinking, and some ICO's that are backing a company and its work i think that could happen and be an issue, however that is not the case with wagerr. When Wagerr fully launches, it will be completely open source and fully decentralized, meaning that there is no company to buy, no source code to acquire the world will own it  See, that's why I'm here. Thanks for the thoughtful reply!! I'm stoked for you guys and think you are definitely tapping an huge opportunity here in the gambling world. I'm relatively new to ICOs, and there's so much to process about blockchain that I completely forgot about the decentralized nature of blockchain. But, undoubtedly, the developers of this application are certainly going to want to make some annuity money off this (not just the initial ICO round of funding). So, I'm trying to wrap my head around how that happens. Do they keep a large number of tokens themselves during the ICO (I'm assuming you guys are legit and not a pump and dump)? Once the ICO is complete and the system is off and running, who maintains the website, updates the code, etc. and what is their incentive to do so? Cool, no problem. The white paper does outline many of these issues, and if you are looking for deeper detail to some of these answers i would check it out. It is a long document so places to get most of these answers are section 11.2 (development fund/fees and how wagerr will be able to be developed on continuously as well as developer coins) Also section 7.9 which covers governance and how the network will grow and be maintained over time while maintaining a decentralized nature. Link to the white paper https://wagerr.com/wagerr_whitepaper_v1.pdfHope this helps! |
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I have a question that might not just apply to WGR, but any ICO. What if Wagerr really takes off as a success story and some larger non-blockchain gambling company acquires it? What happens to the value (or even the existence) of WGR tokens in their current form? Since our WGR tokens are not an "investment" or stake in the company, could the acquiring company just eliminate WGR all together and replace it with a new online token or currency? Would the company be obligated, either legally or via an effort to keep the Wagerr customer base, to maintain the WGR tokens or convert them to a new token/currency?
This just might be one of the risks with getting involved in any ICO.
I follow your line of thinking, and some ICO's that are backing a company and its work i think that could happen and be an issue, however that is not the case with wagerr. When Wagerr fully launches, it will be completely open source and fully decentralized, meaning that there is no company to buy, no source code to acquire the world will own it |
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So I did quick summation of the initial marketcap. 100M tokens at 5 cents each is $5 million. Another 100M tokens at 6 cents each is $6 million dollars. That would mean the entire ICO including the extended rounds would give it an initial $11 million marketcap, which would place it at the #110 spot on coinmarketcap. EDIT: I think WGR has room to run  I think that for the creation of the project does not need such a large funding. This is the desire of developers to get huge money. We actually designed this so that if the demand was there, we would extend to allow for further distribution (maximum possible). We believe the more decentralized the wagerr token holdings are, the safer and more secure the network becomes. |
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If the German translation still vacant, i would ion to reserve it. What is the bounty for that? Other German translation for example, one of the offical homepage needed? PM
please pm edgemaster for this, Thanks! |
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Good bonuses, only heard of gold tickets. Also would like to know more info
we will get a post up on the golden ticket system today! |
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If you have issues please email support@wagerr.com ... please include your issue, your wagerr email, your txid and your deposit address. |
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Hi, ive a question about purchasing the tokens via the website.
I know from previous ICOs that if you purchase with a ETH say, you get the tokens delivered to your ETH wallet (I use MEW).
This ICO seems to allow 8 different coins which is great.
If I dont pay with ETH, how do the wagerr coins/tokens get delivered to me? I will probably use BTC, ripple or Dash as that is what I have most of.
Is it ok to pay via my exchange wallet or do I have to move them off the exchange onto a local wallet first? Again I know from previous ICOs that I had to use MEW wallet but that was for ETH purchases, im not going to use ETH this time.
Will the tokens just get credited to my account on the wagerr website and then I transfer them to my own personal wallet when I'm ready?
Sorry if this has been asked already, couldnt find an answer
thanks
You can pay with an exchange wallet, but exchanges batch transactions so sometimes they take longer so just take that into account. Also yes your account is credited wgr and once the tokens are issued at the end of the ICO they will be able to be withdrawn. |
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Can I participate directly with BTC or do I have to get ETH for the ICO?
Accepting multiple Currencies including ETH, BTC, XRP, ETC, LTC and others. As for the website being decentralized, once the ico is over and distribution is complete, the website that hosts the wallet downloads and FAQs and more will be completely open source. |
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Hard cap ?
Price per token ?
Telegram group link please .
soft cap 100 million, if sold out before 14 th June,hard cap will be 200mill Price per token is fixed at $0.05 sorry we dont have a telegram group going , its slack at this stage , slack.wagerr.com Ok so the absolute hard cap is $10 million. I think it's a good project and will probably invest but... I would be remiss not to point out that you have got game theory and incentive alignment wrong in terms of your ICO imo. On the one hand you are attempting to encourage word of mouth marketing and the complete sale of each round... A progressive bonus system rewards early adopters while encouraging word of mouth marketing and the complete sale of each round. https://wagerr.com/icoBut on the other... soft cap 100 million, if sold out before 14 th June,hard cap will be 200mill So never mind a 1-9% bonus, shareholders could receive a -50% equity deduction if they engage in the word of mouth marketing you were trying to incentivize. As with any project, more funding is usually a good thing but in terms of incentives, you have encouraged complete radio silence from ICO participants until at least the 14th of June. Having said that it's a good project all round and you may well raise your hard cap very quickly, just pointing out your incentives are misaligned and hopefully there aren't as significant incentive misalignments in Wagerr itself. very fair point of view, just one thing to add, the bonuses stack if those rounds are started and sold. So those new rounds selling as well would mean that bonus would move from 9% max round one to 19% and following rounds etc. but im happy to hear you are still interested! thanks again! |
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I have 3 questions:
1. In the first post it says that 50% fees go to the Oracle and the other 50% is destroyed. However in the video it is different: 50% oracle, 48% destroyed, 2% development. Why this discrepancy and which one is right ?
2. In your web site it says that the ICO structure will be 10 rounds of 8.5MM each. In other places it says round 1: 17MM, rounds 2-9: 7.75mm each, round 10: 6mm
Same question as before: why this discrepancy and which one is right ?
3. It also says that the system will be deflacionary because of the 50% (or 48% ?) coins destroyed each bet. It doesn't say nothing about creation of new coins, however it says later that the Oracles receives a % of new created blocks. Could you elaborate this ?
Thanks
Sorry for those errors, we adjusted some things over the past few months and let some of that older stuff slip through let me clarify. 1. The fees are indeed 50% goes to the Oracles 48% are destroyed and 2% goes into the dev fund that the Oracles govern. 2. The original ico design called for 10 rounds of 8.5mm a piece, but we expanded that total in round one to allow for more people to get into the bonus. it is indeed 17mm round one then 7.75 from round 2 to 9. and then 6 million in round 10. 3. The economy is deflationary in nature, but for it to be self regulating and self correcting there has to be a base of coins created each year. In Wagerr's case its 1% inflation a year. If it sells out that would be 1mm a year. So when under a million coins are destroyed by network fees it would technically be called disinflation, (a reduction in inflation) but once it crosses over that million it would then be deflation. To get a better handle on the inflation and deflation mechanisms you can check out https://wagerr.com/economicsThis has the interactive value calculator to help gain a bit of clarity for the mechanism of increased price = less deflation. Also we will get those errors fixed asap, thanks for pointing them out! |
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I'm very interested and I will follow this.
The way I see it, this will function as a mix between a traditional bookie and a betting exchange such as Betfair or Smarkets. In H2H betting one side will be backing the bet and the other one will be laying.
I have a few questions about the project:
- How will you create liquidity for H2H betting? All big betting exchanges incentivize market makers and give them access to an API that allows them to give liquidity to the market which in order creates tighter spreads. Others use the API to implement betting bots, which at the end of the day also bring liquidity.
- Do you have deals in place with odds providers for vs. chain betting?
- Are you focusing more on US (baseball, basketball, hockey...) or Euro (soccer, horses) markets?
- What are the requirements for running a Masternode? Do you have any information available in this aspect? How will the Masternode settle the results of the events (is manual intervention necessary?)?
Hi there, to answer a few of these quickly, if you have more questions please join us on Slack at slack.wagerr.comWe will not be adding liquidity to H2H through API's early due to our goals being focused on adding the ability to achieve partner-less direct chain betting. The oracle masternode owners will have 3 options to pull data for odds and outcomes. Sport betting API tieins, Site scrapes, and manual entry. Wagerr is completely decentralized, thus if we used a single odd maker or information source it would still have a single point of failure, just like other semi-centralized solutions. Oracle Masternode requirements 25000 coins collateralized. Uptime measured weekly 99% or higher Sport data feed Public IP with a forced network port number Bandwidth to accommodate the volume of the api calls As for how bets are resolved here is a snippet from the soon to be released white paper.  |
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im not sure i understand correctly the ladder graph of bonuses. if you participate in round 1 it says maximum 9% bonus. does that mean if you ONLY particpiate in round 1 you only get 1% and dont get the 1% on every other round you dont participate in?
The size of the bonus for each round is dependent on how many rounds following it sell out. So what you see is the maximum bonus in round one is 9%. That is the bonus if the ICO sells out. For another example lets say the ICO only sells out through round 5. That would mean that round one participants would receive a 4% bonus, round two participants would receive a 3% bonus and so on. Bascially it is 1% bonus for every round selling out after the round you buy. |
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waiting for the whitepaper release,, i'd like to read it  and what is the ICO price for this wagerr ? The whitepaper is coming Also the price per 1 WGR through the entire ICO is 5 cents USD |
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Question for the dev about the ICO.
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During the ico will I be able to send BTC only from an address of mine, or can I send it directly from an exchange for example?
We always advise sending to a personal wallet first before purchasing due to the window of making sure your purchase is confirmed in time. However our system will not require it, but due to the way exchanges batch transactions, its best to transfer to a personal wallet first. |
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Is there a cap to how much a single individual/organization can buy? I have a couple parties interested in participating but before I keep aggregating I want to make sure there is not a USD cap per single purchase. Can you verify?
It is probably just the max number of coins they are selling. While I am sure it ensures no centralization or monopoly, but I think that needs to be implemented as someone would be really stupid to buy into so many coins. But I have a quesion. What happens if not all coins get sold ? Unsold coins will not be created. I believe the minimum requirement is phase 1 which is 17 million, otherwise the ICO will restart per OP. If only 30 million are purchased, then the max coin supply drops from 100 to only 30 million instead. Spot on, it is all percentage based to ensure fairness |
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Is my understanding correct that the primary coin will be Ethereum for the ICO, but any other coin like Bitcoin will be accepted via shapeshift?
If that's the case, does anyone have a general idea of the shapeshift fees associated with this? If it's over 2%, I'm thinking that I'll probably use an exchange to buy ETH with bitcoin and save on the shapeshift processing cost.
We are actually not going to use shapeshift any longer due to the fee issue. So as of now, we are directly accepting ETH, ETC, USDT, BTC, LTC, WAVES |
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