"For example, if price falls dramatically, significantly more outstanding supply is destroyed with every bet, because bets now require more WGR. Conversely, if price rises dramatically, significantly less supply is destroyed. Over time, this leads to less price volatility and an asset value that more accurately reflects both adoption and usage."
So if supply increases due to chain betting resulting in price falls then what if I bought Wagerr coin before the supply increased? Then I lost money without even betting. Or if supply decreases due to chain betting resulting in price rise then what if I bought Wagerr coin before the supply decreased. Then I lose money without even betting? No application ecosystem either?!? How much work has actually been done? or is this all hypothetical and will be created months after funding? @Developer.
can i ask a simple question...
Do you know how a sportbook makes money? and why it's profitable?
im gonna go ahead and answer this just for posterity.
sportsbooks make money due to the edge generated by the advantage of paying out a lower number when they lose compared to when they win.
Just a short example. Joe bets 100 bucks, and there is a 5% vig or fee. If Joe wins the sport book lost money they give Joe his 100 back and pay him 95 more dollars totaling 195.
But if Joe loses, the sportbook doesn't win 95, they win 100. So its all about having equal bets on both sides, or fading the payouts.
My point is that sportsbooks make a ton of money off of this small edge, and if i understand Wagerr correctly, The oracles get half of that bonus and the rest of it is destroyed. Ultimately what this means is just like a normal sportbook, wagerr will make money over time, but in wagerr's case, half of all the money they make is destroyed.
The math says there will be less coins, not more. Just my two sats.
