Hopefully by the time I post this it's not too late, but

can someone tell me how "decentralized betting" is supposed to work? who the fucks sets the odds and spreads? and why does there have to be its own coin? there are already tons of online bookmakers that accept bitcoin

>>2225743
I honestly couldn't tell you, I just know people will buy into this shit for whatever reason. Kind of ironic though because the crypto market itself could be used as an example of "decentralised betting".
Also the reason you might use literally anything other than Bitcoin is because Bitcoin's slow and generally has higher mining fees.

>>2225760
My bad, >>2225825 was for you.

>>2225825
I mean i guess that's my beef with it, a decentralized bookie makes literally 0 sense. I dont think the crypto peeps investing in this have ever actually gambled, and understand how odds and spreads are made, or how the gambling industry as a whole is able to function.

gambling is fucking stupid anyway

>>2225891
Bruh I hate to tell you this but playing with crypto is literally gambling

>>2225863
I think you may be misinterpreting the concept of it. It's not so much for betting but more a forecasting tool. Very similar idea to Wings DAO (although imo Wings execution of the idea is better). Hopefully this will clear things up: https://youtu.be/yegyih591Jo

>>2225743
Already have my longs in place

lets do this

>>2225863
it's for advertising and marketing, not for betting.

>>2225891
Was going yo say this >>2225906
The only difference is that the risk/reward ratio is greater both ways. And if you think that's what's so bad about it, then remember crypto has a higher reward/risk ratio than the stock market. So really they're all the same but just work over different periods of time.

>>2225973
I'm not saying it's bad! And I agree that you're right, but in principal I think they're the same.

>>2225937
this is so fucking stupid lol. how are the odds at the beginning figured out? if everything is presented as even money when its released, whoever gets in at the first seconds a question is presented has disgustingly good odds for the event at hand. this model also lends easily to sharps and those with insider information taking huge advantage over the normies (who are supposed to partake, but will quickly stop after they get smoked by pros).

staying the fuck away from this shit. yall niggaz do what u want tho

>>2225863
you are mistaking this for something like EDGE or RLT

>>2226033
it's not about betting though. it's for finding out what people think about everything, all the time. augur is just what they're paying people to constantly give their opinions. it's value comes from what it offers in marketing products/services. we're moving away from "you might be interested in x" to "i know you want this".

>>2226033
There are no odds involved. People present an idea and you place however much money into whether you think it's going to work or not. This makes sure you're giving a truthful forecast of the idea (obviously you'll want a reward so you'll tell the truth).

It's more like a survey businesses can use to figure out if their idea will work before they even launch it, and the reward is incentive for people to answer the survey truthfully.

>>2226079
>>2226101

but why wont people take advantage of it as betting? IE, the question posed could be who will win democratic nomination, Hillary or Bernie, and will (i assume) be even odds for the question at first. However, in reality, the odds were not even close to that when bookmakers in vegas and around the world were setting those odds. why wouldnt people just take advantage of it as a strictly gambling place to take advantage of normies and juicy odds??

>>2226149
it's just a clever way to get people to truthfully give their opinion about everything. the value comes from how this information is used in marketing products and services. the betting aspect is irrelevant. winning or losing a bet doesn't matter because you've given your opinion and that's all they were after.

>>2226190
this implies that people would rather give their honest opinion instead of taking advantage of good odds for in order to win money. also, these answers could be swayed by coordinated efforts, get people to vote based on group think, then these pro bettors put an ass ton of money on whats actually going to happen. ie, what already happens in vegas now when lines and spreads are released.

this shit is not gonna fuckin work. u might be able to make some quick gainz, but this project will ultimately fail

>>2226225
you're not seeing the whole picture.

>>2226149
I don't understand the point you're trying to make. The only way to make money off it is to correctly predict if someone's business idea will be successful or not. They're using you as a forecasting tool. The person who's pitching the idea says "i will pay out X amount for every $1 put towards a correct prediction". Obviously you don't want to lose money so you tell the truth. You might say "I think this project will fail". The business takes this into account, then will either cancel their projects launch and rethink their concept (paying you for your forecast), or they may still launch and their project might fail (meaning they would have to pay you for your correct forecast/prediction). However if you predict it will fail but it actually succeeds, than you simply just don't get rewarded. You're never gonna figure this out if you don't get it in your head that this isn't even remotely close to the likes of sports betting.

>>2225760
People like you make me sick, do your own research for once just instead of getting pegged by your father.

>Also probably a good time to buy some Siacoin

>>2226688
Fuck off with you're siacoin you piece of human shit, tonight when i'm balls deep in your mum i'm telling her to finally give you the abortion you deserve.