hi guys thanks for tuning in to another episode of matrix news in this video I want to cover another exciting project and that’s auger now these guys are creating a decentralized open-source prediction platform so welcome to the future of forecasting so this works by giving you a financial incentive to put your money where your mouth is and bet on predict future real-world events so this is a zero-sum game they can only be one outcome in the real world and by betting on the odds of you the likelihood of things occurring we can accurately predict the future and I’ll talk about how this all works as we move through the presentation so we can create bets on anything from presidential elections to stock prices sporting events anything that you like through that agha markets those traders are placed bets are going to end real money and benefit from accurately predicting the future so this all comes from that theory of you know wisdom of the crowd collective intelligence game theory that the a group of people can more accurately predict an outcome than any one individual through that collective knowledge of all available information out there being priced in as money flows into these bets so you something’s 50/50 you know those shares should be trading for 50 Cent’s but if something’s more likely to happen people are gonna buy those shares because they believe that’s going to be the outcome that will be worth a dollar again it’s a zero-sum game so if your share price is 64 cents theoretically it has a 64 percent probability of happening it you know if these markets are working well and all available information is priced in so decentralization is the key so augers are decentralized platform built on top of the theorem it can’t be switched off anyone can create their own market for anything so breaking down those borders there’s going to be financial incentives to create markets as well as those people that are betting on markets that believe they can be right as well as rep pokken holders reporting and verifying the outcome of bets being rewarded this is going to result in lower fees than traditional platforms and legacy sort of bedding structures so those fees are set by users and as more people create bets that’s gonna be competitive so fees are gonna get lower and lower safe and automated payments build on the theory and blockchain you know allowing for fast settlement processes no human intervention no human error so of it can be done for anything so here’s a few examples here you know world events Bitcoin price sports events cos North Korea relations the team have had a few setbacks so this is currently only in invader you know on the on the test and it’s a little bit clunky so just want to show you their website here but look they do have a great team that have been working hard behind the scenes since their I see are a couple of years ago with a RS 5 million dollars which is quite a lot of the time maybe not in the scheme of things now but check out some interviews on YouTube with Jack Peterson and Joey Krug if you want to in-depth the inside into into how they’re going about this in the background but I think this is a really strong team that I had a few setbacks they’re IDing our bugs but I believe this has got every chance to be a fantastic product when it’s rolled out and they use it interfaces are all upgraded and ready to roll so the great man himself there as one of the advisors so anyone can create create a new market that you can set the fees you can choose binary yes-or-no outcomes model choice scalable ranges okay you can set the variables and the parameters the fees you can make a unique bet create that market and then users can choose if they want to bet and flow money in to your smart contract so here’s one here will the stock price of Apple reach one hundred and seventy dollars this year before the first of November now you set the fees here’s a big nice quarter book the same as a crypto exchange which a lot of use will be used to buy now so if you think the odds are better than 50/50 you’d be happy to buy and if that you think that’s 100% chance of happening then you buy that share for 50 cents because you believe that will be worth $1 you believe that you’ll be right and you’ll get paid out through that aetherium smart contract so again a little bit confusing here again we’re going to upgrade the user interface but be asked you know the number of people bidding and the number of people selling there so guys I have a play around that have a look but just keep in mind that is still working progress so the two types of fees I’ve already touched on so market crater fee so you set the fees when you create a bet and you earned half of the feast created the other half of the fees go to those owners of rep tokens who report and verify that the outcome was correct before that the fees are settled through that etherium smart contract so you know if you win a bet you win $100 if that was a 50-50 bet you might have bet $50 if you that was a 10% chance of happening you might have only had to bet $10 but if that outcome occurs you get the full amount so you get $100 – they create a fee which might have been point oh five percent and – the reporter fee they verify the outcome of the bet so you still end up with 99 dollars 85 forgive this is gonna be far more competitive than traditional centralized markets so there have been some setbacks as I touched on you know critical vulnerability found back in July these guys are running out of bugs it’s better they have this out you know – bugs down on the test net rather than the hacks and with the problems we see with projects that are already live on the etherium a net keep an eye on their reddit their time on their ticking the boxes they hoping to the launch live in the coming months without bug bounty I’m sure they’re going to get these contracts audited you don’t have touched on projects like one stamp I believe they’re giving these weekly updates here to keep it on their medium as well so much to like about this this platform though so lower fees censorship resistance breaking down those barriers doesn’t matter if your rushon and you want to place bets on new US stocks that you would have otherwise not have been able to gain exposure to the possibilities really are endless so create your own markets they resolve without that trusted third party the rep token holders we want to earn fees we want to verify the outcomes of those bets correctly now there is a you know dispute process with with bonds but I won’t get into that too much now stable coins are gonna make me city even better again so think about if you made a bet and you can you earn 20% but the price of the theorem was to drop 20% so you know once we have make a die another project I covered recently just stabilizes what the peg of the base of the currency that we’re making these bets against rather than crypto currency which can be vulnerable volatile sorry so faster trades and legacy platforms we know that a theorem skying scaling for higher transactions per second this allows you to create margin and leverage present positions so you can construct bets in a way that if something’s a 10% chance of happening I guess that’s similar to creating a 10 times leverage position so you can bet $100 to make a thousand effectively creating a 10 times leverage bet automatic rollovers so that’s just in relation to futures contracts in the soft world so we can make Agha contracts that automatically roll over each month and dark pools so this is you know allowing people would have bet and anonymously on anything through cryptocurrency rather than having to create accounts with betting platforms or you know stock brokers and that sort of thing so guys plenty of like about these I’ve certainly been adding this one to my long term portfolio again on the dips I just think there’s such a big market cap for the betting industry you know the stock world all these sort of betting outcomes that people are going to be able to make in the future currently sitting in a 300 million market cap as well as those rewards that the rep token holders again they collect so plenty like about this project one that I hold I hope you’ve enjoyed this presentation please hit like subscribe having already share these videos around and as always thanks for tuning in guys cheese

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