Prediction market platform
Smart contract blockchain
Augur combines the magic of prediction markets with the power of a decentralized network to create a stunningly accurate forecasting tool - and the chance for real money trading profits.
User ReviewWrite review 5 reviews
First of all, the design of the site and the platform is beautiful. It is so nicely done and easy to use. All the necessary information is provided and easy to find, no secrets.
"Wisdom of the crowd" as they say will effectively create an efficient prediction platform. If you ask enough people a question you will finally work out the most probable answer. It will be a great tool for data analysts and scientist, but it will also be a great tool to get money on your correct predictions.
The team consist of many great people, and most importantly a lot of skilled developers. With that team they will surely deliver the promises.
This is best prediction markets provide powerful predictive data - you can think of the current market price of any share in any market as an estimate of the probability of that outcome actually occurring in the real world. For example, a share priced at 64 cents has a 64% probability of happening.
The accuracy of prediction markets rests in the idea of the "The Wisdom of the Crowd". This states that the average prediction made by a group is superior to that made by any of the individuals in that group. Markets are the perfect way to aggregate this collective wisdom - which is made up of all the information, analysis and opinion held by members of the group. With these individuals buying and selling shares in the outcome of real-world events, based on their personal knowledge and opinion, the market prices reach an equilibrium that reflect the opinion of the entire group.
Prediction markets have proven to be more accurate at forecasting the future than individual experts, surveys or traditional opinion polling. They provide real-time predictive data and are traded using real money - which incentivises market participants to reveal what they think will happen, rather than what they hope will happen. Traders are putting their money where their mouths are.
Disadvantages of Augur: until now I don't know of Augur disadvantages, even I was amazed by the price movement of augur tokens which I think is quite stable
So it's going to combine betting with statistic and data analysis. Some people will make money of it and other people will get data they want on future predictions. Seems like a good combination of profit with fun and actuall research. With many people being able to ask questions that need to be answered it can work as a good tool for economists to get to know what people believe will happen. And everything with blockchain transparency.
The project looks very interesting but I have a feeling it's just some bettings, binary options under a fancy design and name and coins.
So now, one would have to decide if it's a bad thing or good? I mean, these kind of sites are pretty popular, and bookmaking in general is pretty popular business that brings good profits. I can see it being successful if enough people buy into it and with it's neat and clever design, and simplicity I can see it succeed. Also the fact that anybody can ask that question for other people to predict makes it even more interesting.
market forecasting and prediction is a great idea expecially when at this time when the use ecurrency is on the rise. i thinks this is a great contribution and i see Augur being listed as one of the top market prediction in the nearest future. the site load fast and better choice of template. i think the site deserves 5 star
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