Topic: [ANN] [ICO] [WGR] | Wagerr | The Betting Blockchain | Bounties - page 84. (Read 237339 times)

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 - 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.

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?

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.

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

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.

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?

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

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

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

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

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

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

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.

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

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.

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 

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

Like I was saying above, the current industry isn't exactly a prime model of efficiency and thankfully we've already built up a great deal of support from our community.  We've got a lot planned on the marketing/promotion side later on, but what we'd really like to see more of right now are highly technical users who are very forward-thinking.  Once everything is up and running fairly stable, then when we can really begin to formally introduce Wagerr to the gambling world.  We're already making preparations for this, we just need to make sure we get plenty of people who can run a high-quality masternode(s).

It's also important to note that a lot of our marketing concerns are common to cryptos in general really.  We realize that we will need to have something that is simple and practical, which is certainly much easier said than done for blockchain technology especially.  This will surely take significant time to develop and refine, getting helpful feedback from the community during these stages will be important for us.

We have to be realistic though, it will take a lot of time and effort to build up a sizable amount of traffic.  It simply won't just happen overnight.  We will likely need a year or two, in order to cycle through all of the major sporting events once or twice.

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.