Augur Breaks The 1,000 BTC Mark in Prediction Market Crowdsale
Augur has launched the world's first decentralized prediction market that would be open to the general public. Prediction markets work on the idea that large groups of people are able to make much more accurate predictions than, small teams of experts. Augur enables participants in its prediction markets to now put their money where their mouth is. Participants back their beliefs by placing wagers on the outcomes of diverse events, that range on everything from politics, the economy and even the environment itself. The funds are stored securely on Augur's platform, and are accessible only....
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Augur, the decentralized prediction market and one of the hottest Ethereum apps, has begun their token crowd sale on August 17, raising over US$600 thousand equivalent in BTC and ETH in the first day, at the time of writing. (Update: Now at $1.3 million USD). The crowdsale will run from August the 17 until September the 5, 2015 with discounts diminishing along the way: “InTrade [. . .] the best-known prediction market until federal regulators forced it to stop serving U.S. customers in 2012, beat the pollsters and pundits by foreseeing the outcome of the 2008 presidential elections in 48....
Ethereum and smart contracts have a lot of promise and Augur is one of those applications. Cryptocurrency, and the underlying technologies that come along with it, have the potential to disrupt entire markets, forcing them to either fade away or change dramatically in order to remain relevant. Prediction markets are one thing that decentralization could massively overhaul, eliminating points of failure as well as the possibility of cheating or corruption, while retaining the advantages prediction markets have in forecasting outcomes. The blockchain also secures customers’ funds, assuring....
It's been a wild couple of days for the team at Augur. Just 48 hours into their crowdsale, which launched at noon EST on August 17, they have raised in excess of 4200 BTC and 549000 ETH. "Unfortunately, the ether and BTC price keep falling, so the buys can't keep up with the (USD) price," said Augur's marketing director, Tony Sakich. Bitcoin has dropped from $253 USD to around the $232 mark since the Augur sale began. It's a remarkable feat for a company that has a somewhat esoteric product, built on Ethereum, arguably an as-yet unproven blockchain platform. Ethereum's Frontier stage was....
Augur, a decentralized platform allowing individuals to create prediction markets on a vast array of topics, announced today that it was launching its alpha test."Traditionally, prediction markets have fallen short due to their need for volume in order to be valuable forecasting tools," explained Jeremy Gardner, the Director of Operations at Augur. "Having a global, unstoppable, blockchain-based prediction markets platform means anyone in the world with internet can connect to Augur."However, Augur is not, itself, a prediction market. Rather, it is open-source code for a prediction markets....
"You say prediction market and people are like 'What's that?' - it doesn't sound that important or lucrative or interesting." That's Jeremy Gardner, best known as the director of the College Cryptocurrency Network, talking about the first reactions some may have to his latest project, Augur, the decentralized, blockchain-based prediction market founded by Jack Peterson and set to launch a token crowdsale this spring. Common perceptions aside, Gardner and core developer Joey Krug are out to prove that a platform that allows participants to bet on the outcome of real-world events can be a....