Raiders, this just isn't true. Where are you getting the centralized for the most part and Wagerr pays some of the winners through Ionomy?
I get you are helping to explain the risks but you are also making claims that aren't true. I mean two day ago you didn't know Ionomy existed and now its facilitating the book? I want to try and clear up this thread a little.
Firstly, The only part as I explained earlier of the system that remains centralized is the 'oracle', (the engine feeding the events, odds and results in). Which again looks like it won't be in 12-18 months. The rest of the chain is run by the nodes. By the public. I'm glad you got the correct info regarding wallets. Here is a link showing the distribution
https://chainz.cryptoid.info/wgr/#!rich You have to ignore the first 2 addresses as the website incorrectly reads the chain but you can see there that it is well distributed.
I get many in this forum are of the opinion that the model wont work. My rebuttal is that we have sharps on the system now. How do we know this? We talk to them, they are in the community. Of course everyone around Wagerr understands that if you mint too much you devalue the currency, we spell it out in the documentation. Again there is a risk of using WGR, if you are not comfortable with that do not use it. Yes, in the earlier years there was opportunities for bettors to take advantage of the chain. and Good on them, they adopted this early and they were rewarded. The mint rate as of today, YTD is 0.08%, hardly close to what many would think. And Wagerr has more upgrades in line that will enable it to better manage the risk and introduce things like casino games that will have a net guarantee burn.
Still if the mint is a concern for you, by all means watch, wait it out, Wagerr will still be around and as the betting volume increases and WGR gets burned I'd hope you get more comfort around the model. Remind yourself that Wagerr has been live for 3 years now and it's still going.
People also using it understand that liquidity on the exchanges could be better. And yes that practically should make it difficult for someone to bet very large amounts, but at the risk of sounding repetitive. Wagerr is built for no limits, it will never cut you off nor limit you. See point above for the risks associated with this. (we get it). As a counter what people are doing in the community is hedgin their WGR out. They are betting on one side of a market on WGR with the intention to lose and on the other side of the market in another book thereby bypassing the exchange altogether.
Ultimately, if you have a good experience with your current books by all means continue to use them. If you don't, if you don't have access to a book or If the idea of a book where the users are the house interests you feel free to ask questions about Wagerr. I will even let you try it for free, so that there is no risk for you to take.
This is live and in the last week while we have been talking about it not working there has been ~$400k USD bet through the system. How do I know? Because it is the most transparent book out there. explorer.wagerr.com
@Raiders, I haven't hit my 40 post limit so cannot respond to you.
The point of the original post was to introduce this. It's clear to me that there is a big difference between the perception of Wagerr here vs the reality. I want to close that gap. As others have said, it is important to remain wary in crypto. after 3 years of being live and happy users I would think that Wagerr would have earned more respect than SCAM or Ponzi. The few people that have reached out from SBR to test it out including EZ tiger have had a good experience in learning. Maybe the system isn't perfect but it is improving and it might not have value to you but it has value to plenty of people that want a betting platform like Wagerr.