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

[SixFigures]

Is there actually a limit to the number of masternodes in the network?

2000 masternodes is the planned limit, however it could change if the network reaches a consensus on something else.  One thing to be aware of though, is that masternodes probably won't generate much wgr during the earliest months.  Those who are only concerned about profit should consider just staking at first, and maybe running a single masternode simply to learn.

I don't think we will hit that 2000 limit for quite some time, so nobody should be worried about being left out 

Yes was just interested in the max number of master nodes. Making considerable profits from the generated revenue will take quite a long time and driving adoption will also be a very hard task I can imagine. A lot of work ahead of us.

[1714830012]

1714830012

[Angel Di]

This coin is visible only to wake up in the summer next year. Nothing wait.

[klixion]

This coin is visible only to wake up in the summer next year. Nothing wait.

Wagerr will wake up well before summer of 2018.  We'll see some activity immediately after the mainnet release in January.  Q1 of 2018 will be very exciting for Wagerr.

[guillermo156]

Hello, where must i store my 25.000 Waggers to run a node? Can i do that on waves platform ?

[Dr Charles]

Hello, where must i store my 25.000 Waggers to run a node? Can i do that on waves platform ?

You cant run a node until main net launches. Wont be until early next year

[SixFigures]

Hello, where must i store my 25.000 Waggers to run a node? Can i do that on waves platform ?

You cant run a node until main net launches. Wont be until early next year

Is current development for Wagerr going according to plan? Do you have any details maybe?

[xibeijan]

So far development seems to be going well from what I hear.  Wagerr will be a top crypto for 2018.  Good team.

[dham]

Once Wagerr is up and running on mainnet, I hope the team starts marketing the project heavily before the World Cup.  The event will bring huge amounts of bettors to Wagerr.  

Yep heavy marketing is planned around the 15th of January, in time for mainnet launch.

[dham]

Hello, where must i store my 25.000 Waggers to run a node? Can i do that on waves platform ?

You can leave them on the main site until told to remove or send them to wagerr waves lite platform, until mainnet launches.
https://github.com/wagerr/waves-lite-wallet/releases

[patmcc88]

Yes I have been pondering this question for some time too.

It would be very useful to know how the odds compilation will work for on-chain betting. If the Wagerr team cannot put out accurate prices for the markets it will cover then the whole operation will just be the same as a soft bookie that is going to get torn apart by shrewd punters.

I'm mostly invested in Wagerr because I want to use the actual betting service (I'm also invested because i think this could be a very valuable crypto ecosystem in the future). But unlimited bet sizes at a bookie that doesn't restrict accounts is unheard of... and there's a reason for that. A bookie that doesn't protect itself from smart bettors will get destroyed. So my question is how will Wagerr protect itself from bettors that know how to beat the book? If bettors aren't restricted then the only way to protect yourself as a bookie is to put out accurate odds and that is very very hard to do.

There will most likely be some sort of restrictions of course, especially for small-market bets against the chain.  You guys are completely right in that running on-chain bets will be extremely complex with massive amounts of potential risks, especially if not managed properly.  This is why h2h and multi-user will be implemented first (and are lower fees) - there will always be someone on the other side taking the risk for these types.

For the on-chain bets we've brought in a few of these same smart bettors that you're talking about, Jason(MMAforMoney) and Sean(SuparTipstar).  They will review all of the processes from as many angles as possible, and make recommendations for a more secure and efficient system.  These two are the real deal and I'll see about maybe getting one or both to come here and answer some of the more technical questions from you all, you can check them out on twitter where they post a lot of their own solid picks for free.  Then there are quite a few other long-time bettors that aren't a part of the team, but still make solid contributions.  David has honestly done a great job in listening to these experienced bettors and in trying to implement their suggestions.  Some people will try to say "Oh he's just a doctor, what could he really know about blockchains and gambling?", but it's pretty clear he's quite intelligent and could learn just about anything if he has enough motivation.

I can't really go into too much detail yet about how we plan to handle on-chain betting initially, but we're well aware of the points you guys are making.  It's actually good to see a bit more serious talk around here, which is why I wanted to respond.  What I can say for sure though is that the network of masternodes/oracles will eventually run the network, so a better question might be how would you (or a group of users) handle these issues?  Developers would really only be able to submit proposals, it would ultimately be up to you guys to decide on which one(s) to implement. 

I'm not sure the community realizes just how much control they will have over the network.  It's pretty much impossible to see which ways this thing will go and a great deal is subject to change due to our decentralized nature.  This is a fairly unique project which we hope will be disruptive to the gambling industry because it has been failing its users more and more in recent years...especially with the global patchwork of regulations further complicating things.  With that said though, Wagerr will still try to do its best to work with existing structures of the industry.


Edit - When I said restrictions above, I mainly meant overall limitations on bet sizes that apply to everyone...not restrictions on winning bettors.  We actually want those types of people, their achievements should be promoted instead of trying to restrict them unfairly or even outright ban them.  I'm sure many of them would eventually get interested in running a masternode and using their knowledge to improve the network, there would certainly be a lot of incentive to do so....more than pretty much any other network at least.

Thanks for the reply.

It seems to me that the most valuable part of this project is its decentralization and the removal of power from bookmakers and governments, bringing freedom for anybody who wants to bet anywhere in the world.

I therefore do not believe it is of great importance to compete with other bookmakers on odds/lines/prices. Wagerr could succeed with a larger spread than the major bookmakers and in fact it might even be a prerequisite for its success. The best priced bookmakers in the world put enormous amounts of effort into producing accurate prices for sports and this allows them to offer tighter spreads (better odds on both sides of an event). But if Wagerr is going to be using some form of market price scraping and producing its odds second hand then it is going to suffer from time lags allowing it to be picked off by arbitrageurs and betting syndicates which will cause the on-chain book balance to be massively asymmetrical. Or if Wagerr wants to produce its own odds it's going to have to hire very skilled odds compilers which is very costly.

My point here is that Wagerr is offering a market to people who can't normally bet and who are unlikely to be price conscious when betting. They are what economists would call price inelastic. Offering these customers great prices doesn't increase their betting volume and it doesn't increase the on-chain bookmaking profitability.

I guess it all comes down to who the target market is. Offer great prices if you want to attract betting syndicates and smart punters. Offer great accessibility, fast payouts, fast settlements, user protection, lots of markets, etc along with quite good odds if you want to attract everybody else.

Ideally I'd like to see great prices on offer too but I can't see that working unless there is some hidden balancing mechanism in the valuation of Wagerr tokens themselves. If the on-chain betting is paying out more than it's bringing in is this balanced out by devaluing the currency, in the same way that printing billions of dollars devalues the dollar?

[bribed]

Hey there, Ive been investing in the ICO of wagerr but didnt follow the development closely. Is the roadmap still the same and mainnet going to be released in Q1 2018? I am a hodler and will hold on to WGR anyhow, this project is solid and so far I am very confident in the team. Also took part at the Mayweather vs McGregor bet.

[tool_462]

Hey there, Ive been investing in the ICO of wagerr but didnt follow the development closely. Is the roadmap still the same and mainnet going to be released in Q1 2018? I am a hodler and will hold on to WGR anyhow, this project is solid and so far I am very confident in the team. Also took part at the Mayweather vs McGregor bet.

Ha кoгo пocтaвили cтaвкy? the road map has not changed, but I hear little news of late and the price of the dex leaves much to be desired

[bribed]

Hey there, Ive been investing in the ICO of wagerr but didnt follow the development closely. Is the roadmap still the same and mainnet going to be released in Q1 2018? I am a hodler and will hold on to WGR anyhow, this project is solid and so far I am very confident in the team. Also took part at the Mayweather vs McGregor bet.

Ha кoгo пocтaвили cтaвкy? the road map has not changed, but I hear little news of late and the price of the dex leaves much to be desired

Thanks for the answer. Sorry I dont speak russian, but googled what you asked: there was the boxing fight of mayweather vs mcgregor that all wgr holders could bet on with their wgr in august I think. Good to hear that the roadmap is on track! As you said the price leaves much to be desired. That is also the only thing I kept monitoring and it had huge swings so far, Im glad that it now makes attempts to recover as it seems. But not so important now anyways, guess we have to wait until mainnet launch to see something real happening with the price.

[Chronner]

Well, how are you? until the new year, the price will please me though yes $ 0.16 ))))oh commmmon guys, whoever starts to take bets on the price of less than $ 0.16 after the new year?

[lotuspod]

Thanks for the reply.

It seems to me that the most valuable part of this project is its decentralization and the removal of power from bookmakers and governments, bringing freedom for anybody who wants to bet anywhere in the world.

I therefore do not believe it is of great importance to compete with other bookmakers on odds/lines/prices. Wagerr could succeed with a larger spread than the major bookmakers and in fact it might even be a prerequisite for its success. The best priced bookmakers in the world put enormous amounts of effort into producing accurate prices for sports and this allows them to offer tighter spreads (better odds on both sides of an event). But if Wagerr is going to be using some form of market price scraping and producing its odds second hand then it is going to suffer from time lags allowing it to be picked off by arbitrageurs and betting syndicates which will cause the on-chain book balance to be massively asymmetrical. Or if Wagerr wants to produce its own odds it's going to have to hire very skilled odds compilers which is very costly.

My point here is that Wagerr is offering a market to people who can't normally bet and who are unlikely to be price conscious when betting. They are what economists would call price inelastic. Offering these customers great prices doesn't increase their betting volume and it doesn't increase the on-chain bookmaking profitability.

I guess it all comes down to who the target market is. Offer great prices if you want to attract betting syndicates and smart punters. Offer great accessibility, fast payouts, fast settlements, user protection, lots of markets, etc along with quite good odds if you want to attract everybody else.

Ideally I'd like to see great prices on offer too but I can't see that working unless there is some hidden balancing mechanism in the valuation of Wagerr tokens themselves. If the on-chain betting is paying out more than it's bringing in is this balanced out by devaluing the currency, in the same way that printing billions of dollars devalues the dollar?

Yes - there will be that balancing mechanism you're talking about, also there will be a small amount of wgr minted through the staking system.  However, while the price per wgr is low the fees will burn a larger amount of wgr to naturally return it to a sort of balance.  There will likely be a lot of h2h/mu bets which will be burning more wgr for essentially no risk, since there will be someone else covering the other end of it.

As far as the size of fees go, I think the main goal is to strike the best balance between keeping the fees low and limiting risk to the chain.  They will certainly be competitive of course since we want it to be as appealing as possible to as many different types as possible.

[SixFigures]

Hey there, Ive been investing in the ICO of wagerr but didnt follow the development closely. Is the roadmap still the same and mainnet going to be released in Q1 2018? I am a hodler and will hold on to WGR anyhow, this project is solid and so far I am very confident in the team. Also took part at the Mayweather vs McGregor bet.

Myself included there have been a few voices now asking for a tiny little update about the development. So maybe someone from the team could step forward and say a few words please?

[klixion]

Hey there, Ive been investing in the ICO of wagerr but didnt follow the development closely. Is the roadmap still the same and mainnet going to be released in Q1 2018? I am a hodler and will hold on to WGR anyhow, this project is solid and so far I am very confident in the team. Also took part at the Mayweather vs McGregor bet.

Myself included there have been a few voices now asking for a tiny little update about the development. So maybe someone from the team could step forward and say a few words please?

You can find all the latest updates and news here:  https://news.wagerr.com/  From the last posting on there, it does sound like the mainnet release is still scheduled to be on January 15th.  https://news.wagerr.com/mainnet-launch-on-track-team-expands/  Hope the team delivers.   

[lotuspod]

Hey there, Ive been investing in the ICO of wagerr but didnt follow the development closely. Is the roadmap still the same and mainnet going to be released in Q1 2018? I am a hodler and will hold on to WGR anyhow, this project is solid and so far I am very confident in the team. Also took part at the Mayweather vs McGregor bet.

Myself included there have been a few voices now asking for a tiny little update about the development. So maybe someone from the team could step forward and say a few words please?

Yes, sorry about not getting it out sooner but we didn't want to NEO you guys with a lot of hype and very little substance.  Things have been getting done though, and you can expect something very soon.  As we've been saying however - things are still on track for the release date on Jan 15th and the rest of the roadmap is looking good.  We've heard your concerns on anything and everything Wagerr...from the development, exchanges, communication, even down to details like the fees and structuring of the bets.

Nothing can ever be certain though, but you can expect us to pursue every reasonable option in order to make this thing as secure and successful as possible for the community.  Things wouldn't happen right away either, and much of the time we cannot even be very forthcoming with information until things are locked in place.  I completely understand how frustrating it can be for you all though, but it's just often the nature of business...which I kinda hate even having to say.

What I can say for now, is that not having our mainnet yet and only temporary tokens is what is mainly holding us back in many ways.  You can be sure we'll all feel much better after mainnet+testnet is released and especially once we have h2h implemented too.

[klixion]

Hey there, Ive been investing in the ICO of wagerr but didnt follow the development closely. Is the roadmap still the same and mainnet going to be released in Q1 2018? I am a hodler and will hold on to WGR anyhow, this project is solid and so far I am very confident in the team. Also took part at the Mayweather vs McGregor bet.

Myself included there have been a few voices now asking for a tiny little update about the development. So maybe someone from the team could step forward and say a few words please?

Yes, sorry about not getting it out sooner but we didn't want to NEO you guys with a lot of hype and very little substance.  Things have been getting done though, and you can expect something very soon.  As we've been saying however - things are still on track for the release date on Jan 15th and the rest of the roadmap is looking good.  We've heard your concerns on anything and everything Wagerr...from the development, exchanges, communication, even down to details like the fees and structuring of the bets.

Nothing can ever be certain though, but you can expect us to pursue every reasonable option in order to make this thing as secure and successful as possible for the community.  Things wouldn't happen right away either, and much of the time we cannot even be very forthcoming with information until things are locked in place.  I completely understand how frustrating it can be for you all though, but it's just often the nature of business...which I kinda hate even having to say.

What I can say for now, is that not having our mainnet yet and only temporary tokens is what is mainly holding us back in many ways.  You can be sure we'll all feel much better after mainnet+testnet is released and especially once we have h2h implemented too.

Thank you for the update.  I'm glad to hear things are still on track for the January 15th release.  I look forward to Wagerr being a huge success in 2018. 

[Mettius81]

Nice to see that will be active Proof of stake. I'm an holder where i can find more informations about the rewards? I've wagerr on Waves Wallet, there will be some change or wagerr remain in Waves platform?

Thank you