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<blockquote data-quote="BURNΞR" data-source="post: 1183566" data-attributes="member: 11032">Augur is finally launching on July 9th. Basically you collect 1/22000000 of fees collected for every Augur token you hold. Augur deals with decentralized prediction markets. It's pretty complicated but my simple analogy is that the market maker creates a question like &quot;who will win the 2020 presidential election&quot; and have several choices. People makes choices and the correct ones get paid and Augur token holders also get a small share from all fees collected. Like most other coins and tokens the price will depend on network effects ie whether a lot of people adopt and use this network. I thought the idea was a bit redundant because you can already do shit like this on traditional gambling sites but then it occurred to me you can ask any question so it'd be censorship resistant and useful for crowdsourcing pretty much any question you can think of. Augur has been in development for almost 3 years and there is no telling whether this will take off but it's definitely not a shitcoin much longer.[MEDIA=youtube]yegyih591Jo[/MEDIA]</blockquote>

[QUOTE="BURNΞR, post: 1183566, member: 11032"] Augur is finally launching on July 9th. Basically you collect 1/22000000 of fees collected for every Augur token you hold. Augur deals with decentralized prediction markets. It's pretty complicated but my simple analogy is that the market maker creates a question like "who will win the 2020 presidential election" and have several choices. People makes choices and the correct ones get paid and Augur token holders also get a small share from all fees collected. Like most other coins and tokens the price will depend on network effects ie whether a lot of people adopt and use this network. I thought the idea was a bit redundant because you can already do shit like this on traditional gambling sites but then it occurred to me you can ask any question so it'd be censorship resistant and useful for crowdsourcing pretty much any question you can think of. Augur has been in development for almost 3 years and there is no telling whether this will take off but it's definitely not a shitcoin much longer. [MEDIA=youtube]yegyih591Jo[/MEDIA] [/QUOTE]

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