Topic: Augur - a decentralized prediction market platform - page 31. (Read 114364 times)

I read the paper quickly.  What Augur seems to be is:

1.  A prediction market, using bitcoin as the medium of exchange, but also allowing you to use other currencies, including it seems, Truthcoin, and, for stability (ironically!?) the US dollar

2.  using Augur one can avoid the numerous anti-gambling laws that apply to prediction markets (sad but true, as I am a fan of prediction markets; iPredict in New Zealand is one such example)

3.  using Augur you can buy or sell shares in a prediction, and it is locked in the Augur blockchain.  If your prediction comes true, then somehow (not 100% clear how) you can collect on your bet, if: (i) a super-user, or users, with high "reputation", reports that the event occurred as predicted, and, (ii) once this super-user(s) (with typically many such super-users reaching a consensus) says a prediction has occurred, then the Augur blockchain is 'unlocked' and people who made bets one way or the other can collect, via the blockchain, on their bet (if they won), or, if they lost, their bitcoins/truthcoins / USD amounts are also transferred to the winners.

4.  From the OP " If such an individual is dishonest, they are punished, and if they tell the truth, their reputation increases (this is discovered via principal component analysis)." - what is the punishment?  A hit in their Reputation points?  I suppose so.

Can any reader confirm the above?

TonyT

Best of luck.  My only small complaint is that the Augur website, powered by simple machines forum, looks exactly like the Bitcoin Forum, which is somewhat confusing.  Best if you change the design layout a bit so not to give the impression it is part and parcel with this forum.

TonyT

[Updated 3/26/2016] We're proud to announce that Augur has officially entered beta testing! The beta test is open to everyone, and nothing is more valuable to us at this point than blunt, detailed user feedback, so please check it out at https://augur.net.

Augur is a decentralized prediction market platform built on Ethereum.  Please visit http://www.augur.org to learn more!