Yes it'll be its own currency on its own chain, which is specifically designed for betting(and possibly other kinds of gambling). And yeah I would expect some price changes due to events and such, but this will be tied into exchanges also so there will be investors expecting this...which may help to keep it a bit steady. Or if you're feeling particularly brave you could maybe take a shot at playing the wgr market alongside your bets. Another thing is that at least half of all total tokens will be tied up in masternodes on 30-day contracts...so not only will they help to cover all of the possible bets, but they will keep the majority of the total wgr pool fixed into place for the month.
As for returns vs. actual betting - Actual betting will be very important in the early stages, it will likely be at its softest especially with only h2h betting in the beginning. You could run it up quite a bit while also possibly seeing a rise in wgr prices at the same time. Which leads in to investing in the first place, the huge potential rewards justify even a very high risk of failure. An added bonus is it sends a message to the current books that there's a much more efficient way to handle bets, I'd be very surprised if they aren't already looking at smart contracts.
pfff...i'll be betting it up from day 1 since it's mainly why i got in anyway, in it to degen it. Besides almost half of the fees get permanently destroyed anyway so the early stages will be deflationary. To compensate for the eventual rampant deflation later on, 1m wgr will be minted each year to help keep the total supply from going too low(don't want it going down to 1 coin lol). The reasoning is to sort of reward early adopters but mainly for the future to keep the price more stable than the massive swings we've seen in other cryptos. A self-correcting system is basically is what it is designed to be, looks pretty solid on paper but in the wild you never know I suppose.
Also developers and such have limitations on how much they can sell and when, they also must give everyone notice before making any big sales. Which I thought was kinda nice of them, especially since they are taking quite a bit less than they could have(and others did or plan to do). They're taking a pretty big risk themselves compared to others, and have a ton of incentive to make this work.
Personally I want to see this done for poker too, once we have both decentralized betting and poker I'll be happy.
As for returns vs. actual betting - Actual betting will be very important in the early stages, it will likely be at its softest especially with only h2h betting in the beginning. You could run it up quite a bit while also possibly seeing a rise in wgr prices at the same time. Which leads in to investing in the first place, the huge potential rewards justify even a very high risk of failure. An added bonus is it sends a message to the current books that there's a much more efficient way to handle bets, I'd be very surprised if they aren't already looking at smart contracts.
pfff...i'll be betting it up from day 1 since it's mainly why i got in anyway, in it to degen it. Besides almost half of the fees get permanently destroyed anyway so the early stages will be deflationary. To compensate for the eventual rampant deflation later on, 1m wgr will be minted each year to help keep the total supply from going too low(don't want it going down to 1 coin lol). The reasoning is to sort of reward early adopters but mainly for the future to keep the price more stable than the massive swings we've seen in other cryptos. A self-correcting system is basically is what it is designed to be, looks pretty solid on paper but in the wild you never know I suppose.
Also developers and such have limitations on how much they can sell and when, they also must give everyone notice before making any big sales. Which I thought was kinda nice of them, especially since they are taking quite a bit less than they could have(and others did or plan to do). They're taking a pretty big risk themselves compared to others, and have a ton of incentive to make this work.
Personally I want to see this done for poker too, once we have both decentralized betting and poker I'll be happy.
