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bitbitch (OP)
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March 15, 2016, 10:03:16 AM |
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I know of Augur, and now i'm digging a little deeper to get a handle on fundamentals to assess it for investment.
At sale.augur.net the short video ends with;
- "REMEMBER! You don't need reputation to use Augur, and most users won't".
So, are REP tokens worth investing in? Why would i need to have REP if i don't need to have REP to use Augur?
thanks.
P.S. There seem to be a lot of REP sellers on Reddit. Is this a tell about how the investor community now views REP's prospects post IPO?
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anewafresh
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March 15, 2016, 10:26:56 AM |
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You don't need REP to create and bet on markets in augur.
REP has value because REP holders get paid 50% of the transaction fees incurred by betters in exchange for reporting outcomes of the various events that are bet on. So REP holders get paid for helping to resolve a market.
For example, if augur sees $1 billion in betting volumes (which is trivial in the betting industry) in 1 year and the transaction fees are 1% then REP holders get $5m in total and since there are 11 million reps in existence, you get paid ~$0.45 for every rep you own.
So, in a way, if you buy REP you are basically buying a salaried job that is very very easy to do and takes almost no time.
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bitbitch (OP)
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March 15, 2016, 10:34:41 AM |
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You don't need REP to create and bet on markets in augur.
REP has value because REP holders get paid 50% of the transaction fees incurred by betters in exchange for reporting outcomes of the various events that are bet on. So REP holders get paid for helping to resolve a market.
For example, if augur sees $1 billion in betting volumes (which is trivial in the betting industry) in 1 year and the transaction fees are 1% then REP holders get $5m in total and since there are 11 million reps in existence, you get paid ~$0.45 for every rep you own.
So, in a way, if you buy REP you are basically buying a salaried job that is very very easy to do and takes almost no time.
thanks for the explanation. so REP tokens are shares that pay dividends, and not 'gas' that power/ authenticate transactions. |
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anewafresh
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March 15, 2016, 11:29:38 AM |
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so REP tokens are shares that pay dividends, and not 'gas' that power/ authenticate transactions.
In a way, yes. Though technically your earnings are just payment for a service rendered rather than being a dividend. |
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Minecache
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March 15, 2016, 11:32:26 AM |
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Too late to bag some REP?
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bitbitch (OP)
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March 15, 2016, 11:39:28 AM |
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Too late to bag some REP?
not if your EXACTLY (or is that ETHACTLY?) thesis on ETH is correct. at sub $2 REP prices will also drop. |
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Minecache
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March 15, 2016, 11:50:00 AM |
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Too late to bag some REP?
not if your EXACTLY (or is that ETHACTLY?) thesis on ETH is correct. at sub $2 REP prices will also drop. You must have me confused with another poster as I've never published a thesis on ETH. But nice thread hijacking. I'm sure the OP appreciates your efforts. |
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bitbitch (OP)
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March 15, 2016, 11:56:15 AM |
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Too late to bag some REP?
not if your EXACTLY (or is that ETHACTLY?) thesis on ETH is correct. at sub $2 REP prices will also drop. You must have me confused with another poster as I've never published a thesis on ETH. But nice thread hijacking. I'm sure the OP appreciates your efforts. am i not the OP? As ETH and REP are joined at the hip, and as you have your "EXACTLY" thesis running on the other thread, clearly REP's price is intimately linked to ETH's price. As btc dropped to sub $2 after its initial price spike in 2012 i assumed you were saying that ETH would also have to drop to sub $2 before going to $1000. |
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Nxtblg
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March 15, 2016, 04:07:06 PM |
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Too late to bag some REP?
not if your EXACTLY (or is that ETHACTLY?) thesis on ETH is correct. at sub $2 REP prices will also drop. You must have me confused with another poster as I've never published a thesis on ETH. But nice thread hijacking. I'm sure the OP appreciates your efforts. am i not the OP? As ETH and REP are joined at the hip, and as you have your "EXACTLY" thesis running on the other thread, clearly REP's price is intimately linked to ETH's price. As btc dropped to sub $2 after its initial price spike in 2012 i assumed you were saying that ETH would also have to drop to sub $2 before going to $1000. What's the going price for one REP right now? |
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Nxtblg
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March 15, 2016, 04:51:26 PM |
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Wow! More than ten bucks? |
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anewafresh
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March 16, 2016, 03:26:02 AM |
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Wow! More than ten bucks? More like ~13 now and constantly going up  |
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LitcoinCollector
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March 16, 2016, 10:00:14 AM |
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Wow! More than ten bucks? More like ~13 now and constantly going up 14 |
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Minecache
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March 16, 2016, 10:42:24 AM |
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Wow! More than ten bucks? More like ~13 now and constantly going up Let's not forget it runs on Ethereum too. |
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shanem
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March 16, 2016, 03:06:34 PM |
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I don't understand why REP is going up by 43% today. The coin is not officially released yet but the price is up a lot.
I only know that REP is linked to ETH.
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alyssa85
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March 16, 2016, 03:21:13 PM |
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anewafresh
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March 16, 2016, 03:40:25 PM |
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Wow! More than ten bucks? More like ~13 now and constantly going up 14 16 lol |
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Minecache
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March 16, 2016, 03:45:06 PM |
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I don't understand why REP is going up by 43% today. The coin is not officially released yet but the price is up a lot.
I only know that REP is linked to ETH.
There are only 11m REPs in existence and the system runs on ETH. ETH is now out of beta and has been successfully hard forked. (Something the BTC bag hodlers have yet to achieve). Augur and REP is based on gambling and big business is interested I those profits. Defiantly worth bagging some REP/ETH if you can get your hands on it. |
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mybitcoin101
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March 16, 2016, 04:04:30 PM |
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I am buying Auger/Rep if you want to sell.
pm me
thanks
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FandangledGizmo
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March 16, 2016, 08:30:27 PM |
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What currency does the betting volume on Augur actually flow through?
As I understand it, REP is a separate unit that receives 1% of all bets as fees.
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