[ANN] [ICO] [WGR] | Wagerr | The Betting Blockchain | Bounties

[dham]

There are plenty of  online betting sites out there, i think it could be nice if developers could sum up in points how this project could beat the competition of other online sites that are not crypto based and are bound by regulatory bodies. Something like that could give better insight for other to see value in this project. Not that i need it but generally people tend to have problems identifing overall prospects.

EVERYTHING is on chain, the house and players, no middle men to mess with payouts.

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[maxpowerzz92]

Sorry for the newbie question
Will there be wallets that will hold WGR, or will the only option be to hold WGR in Bittrex/Polo?
I am asking as I do not do sports-betting, but I think this will be a successful project, and looking to cash on WGR appreciation over time.
Thanks

If you have an Ethereum wallet, then you will also have a WGR wallet since it's based on the ethereum blockchain.  I recommend myetherwallet.com, if you're not sure what to use.  It'll be same as your ethereum address, but will be listed as a token within it.

[CryptoWiz420]

Sorry for the newbie question
Will there be wallets that will hold WGR, or will the only option be to hold WGR in Bittrex/Polo?
I am asking as I do not do sports-betting, but I think this will be a successful project, and looking to cash on WGR appreciation over time.
Thanks

If you have an Ethereum wallet, then you will also have a WGR wallet since it's based on the ethereum blockchain.  I recommend myetherwallet.com, if you're not sure what to use.  It'll be same as your ethereum address, but will be listed as a token within it.

lol and u can waste your ETH on another shit ico

[maxpowerzz92]

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.

[bitdrafter]

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

[betong]

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

not really. if its percentage based then max coin supply drops from 100 to only 35+ million.

[Jaroslav2007x]

Hello,  with your advertising company on the 23rd of this month, I still have not made a Google table, I was not picked up?

[jeeb]

Bittrex or Polo???    oh ,it is that Polo doesn't list  any betting currency by now~ maybe bittrex is Ok~Waiting for white paper and ~your updates

[Trustor]

Is the ICO capped to a fixed amount?
Is there any idea basically for the price of an oracle ? Even a rought estimate during the ICO

Thank's

[tehMoonwalker]

can you tell me if my twitter campaign entry got accepted? because i wrote pm per btctalk and there is no sheetlist

[hannusolo]

Question for the dev about the ICO.
.
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?

[jawatulen]

waiting for the whitepaper release,, i'd like to read it 
and what is the ICO price for this wagerr ?

[bitdrafter]

Question for the dev about the ICO.
.
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.

[bitdrafter]

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

[thehun]

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?)?

[iTradeChips]

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?

[bitdrafter]

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.

[bitdrafter]

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.com

We 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.

[zx9r]

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

[bitdrafter]

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/economics

This 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!