Crypto Review // Augur & hack.ether.camp
Firstly, welcome to our blog I’m going to start writing about what I see happening in the cryptocurrency markets on a regular basis for anyone interested in keeping up to date with these markets.
So this past week has been pretty lively, the 2 main events I’m going to talk about are the Augur launch and how the platform will function then secondly the announcement from <hack.ether.camp> about their crowdsale the HKG coins they are issuing.
Augur is building a decentralized prediction platform, basically users will be speculating or using insider information to bet on events, the way the markets are designed allows the odds to fluctuate depending on buyers for each option, for example…
The market is called “Who will win UFC 205 Main Event Connor McGregor or Eddie Alvarez?
- Connor McGregor
- Eddie Alvarez
When the market goes live you buy shares in which ever person you want to win, this gives a slight advantage to the users betting first as the odds start at 1/2 or 0.5.
I won’t go in to technical details but basically the more people that think Connor McGregor will win the more expensive the share will be to purchase therefor using the wisdom of the crowd to determine fair odds. Where this platform really gets interesting is that if your watching the game live and McGregor is the favorite and say Eddie Alvarez’s shares cost say 0.31, as punches were thrown the odds would adjust depending on which way the fight was going and if he was to KO McGregor out of the blue you could buy his shares for good odds knowing that he has already won presuming your quick enough.
Now speculation wise I’m waiting to see if there will be anymore lows. As you can see from the chart below the bottom is in that range of 0.0099- 0.011. It does currently look like a bottom but an announcement from Joey Krug gave the impression of a launch in Q2 2017 which means a lot can happen to the price in that time, we have also got the gnosis crowdsale coming up which is a similar platform, I do believe this will have a slightly negative impact on Augur briefly which will allow for accumulation.
Augur Token Symbol: REP
Coins in Circulation : 11 Million (100%)
Current Market Cap: $73,000,000
Possible Market Cap Low: $50,000,000
Decrypto Valuation: $250,000,000 when the platform launches.
I’ll keep you updated with Augur as the market matures.
So this is a fairly exciting project that’s been announced the past few days. We knew there was going to be a huge virtual hackathon in November but what we didn’t know is hack.ether.camp are now going to crowdsale their own tokens for a virtual accelerator. This will allow participants to fund ideas in exchange for a token of which the team will be building the platform around.
An additional feature to note is that the tokens will give you voting rights within the startup you are funding, this will allow you to veto proposals or elect new members or worst case scenario withdraw your initial investment.
We are going to be investing into this crowdsale presuming everything is looks good. I do have a few reservations of which I will be looking into before I invest.
- It’s a similar idea to the DAO with voting etc, which failed, so how seriously they take security will be important
- Release Date
- Community Consensus
Once the platform is running the next concerns are;
- Having enough information on the projects before investing — this will be major, the more information we have the safer the investment as if the development team do not stick to the plan token holders may choose to elect someone who will allow everyone to withdraw the funds they initially invested.
- The Teams, many developers are going to be unknowns, any research into these developers and previous projects will be vital in deciding if the project has the team it needs to succeed on its mission.
The crowdsale which will most likely generate between $10-$50 million and starts on 20/10/2016