Back in 2014, Jack Peterson and Joe Krug decided to
create a blockchain-based analog of a betting platform. They were sure that a
blockchain-based betting system would be more beneficial for users thanks to
decentralization. Five years ago, this idea made a real sensation, so they
decided to launch a platform based on Ethereum, and Vitalik Buterin volunteered
to become their consultant.
In 2015, the Ethereum network launched the first smart
contract of the project called Augur (in honor of Roman Augur soothsayers). In
the same year, developers conducted an ICO and managed to sell about 8.8 mln
REP tokens for about $ 5 mln. The project has become so successful that Augur
turned into one of the world’s most popular betting platform, and REP is 46th
cryptocurrency by market cap (as of 09/12/2019).
Thus, with Augur, some users can find out a collective
opinion about a certain event, while others can express their opinion and, if
they turn out to be right, earn money for it.
Here’s a more detailed explanation of what is Augur
platform, and how it works:
Augur Coin Fundamental Value
When it just appeared, Augur was called a
revolutionary project. Its main benefit is that the platform is available for
any user. Anyone can make predictions and earn from it – you don’t have to
invest heavily. If you have logic and good intuition, Augur is the right place
to earn crypto.
Each share in the system has its own value. If the
negative and positive shares are 50, then the probability of a true or false
forecast is 50% / 50%. If the participant guesses the outcome of the events, such
forecasts are rewarded. The user is not required to hold on to his share,
pending the outcome of the case. Shares are freely sold and bought at any time
until the event is completed.
The Augur cryptocurrency can be mined with a GPU.
There are also cloud services on the Web that offer REP mining. The cost of REP
tokens depends on the popularity of the system. The more REP tokens are in
demand, the more profitable to deal with it.
Like any other altcoin, Augur experienced a serious
fell during 2018. The beginning of the year was successful thanks to the
bullish run 2017-2018. However, after a massive selloff, REP didn’t manage to
recover its value. Since the beginning of 2018, REP coin price fell from $100
Yet, 2018 was successful in terms of platform development:
over 11,825 orders and 1,600 markets have been created. Money at stake in Augur
reached $2.96 mln on November 12, 2018. New users keep registering every day.
Augur (REP) Technical Analysis
What is a better REP trading strategy now? Here is the
technical analysis of Augur market by TradingView users:
Augur Community Reputation
The attitude to Augur is quite controversial: from one point of view, it disrupts the current betting market and erases limits, from another – some people are sure it’s a scam.
Indeed, users should be careful with Augur, when it comes to voting and betting on serious things and events – all in all, the opinion of the majority is not always right – it might be a massive delusion.
Here’s a breakdown of diverse opinions:
Augur team continues developing the project. It is
being introduced to new markets.
Augur’s popularity on the Internet is quite stable:
people stay interested in the platform. The recent interest spikes were mostly
caused by REP price movements.
Influencers Views on Augur
There are not so many Augur price predictions on the Net. However, the crypto community has an optimistic outlook at the REP future.
According to WalletInvestor, REP might go down to $2.24 in 2020.
DigitalCoin.com mentions that REP will cost $15.26 in 2020.
TradingBeasts’. In 2020, REP will cost $12-18 (average price is $14).
Switchain.com published a REP price predictions with the average price $24.5 by the end of 2020.
According to Cryptogrund.com, REP price might crawl to $47 in 2020.
What to expect from Augur in 2020-2025
Right now, the altcoin market is experiencing a downtrend, so it’s possible that REP price will stay the same until the end of the year. Thus, in 2020, REP price might overcome a $20 resistance level.
Is Augur a good investment? The cost of REP tokens
directly correlates with the demand for the platform, and its prospects are
Augur already operates sports betting services Veil, Guesser, and Blitzpredict. In addition, the developers launched the PdotIndex project, which calculates celebrity ratings, and Reporters, in which forecasts are made of the growth in the value of top cryptocurrencies. That is, technology is actively used, and its scope is expanding.
Unlike conventional betting platforms, Augur is truly open and decentralized. Any user with ETH can create a market or place a bet. The risk of fraud is minimized due to the work of a large number of referees (now there are about 200 of them) and the ability to challenge the results of the forecast. And the fees on Augur are much lower than on regular sweepstakes sites. After all, they are determined by market makers, and it is beneficial for them to get as many shares as possible.
Capitalization of the betting market is $113 mln. If ordinary bookmakers start using Augur, the value of the internal token can grow tremendously.
Buy REP at Changelly with USD, EURO or GBP
[add-changelly-widget from=usd to=rep]
This article should not be considered as offering trading recommendations. The
cryptocurrency market suffers from high volatility and occasional arbitrary
movements. Any investor should research
multiple viewpoints and be familiar with all local regulations before committing
to an investment.