Quote from: keelaah on November 12, 2016, 04:36:46 AM

Quote from: ttookk on November 12, 2016, 01:59:31 AM

Quote from: keelaah on November 11, 2016, 12:19:22 PM

Quote from: mummybtc on November 11, 2016, 11:50:01 AM

Quote from: keelaah on November 11, 2016, 06:50:04 AM

Hi,

I'm a long time lurker. I have an idea and I would like to let everyone know for discussion.
I plan to create an ERC20 token and distribute it for free.
Then I will create a prediction market using this token.
The prediction market will be using augur's published markets, then we trade shares using the token i created.
The market will also use augur's oracles for resolution.

This way, we can have a prediction market without fees unlike augur's 2% fee each trade.

Let me know your ideas. I'm currently coding the token now. I will get the idea from the crowdsale of golem network.

Basically the ERC20 token that i will create will have a crowdsale but at the end of the crowdsale period the participants will get their tokens and also their eth. So basically, it's free. Just lock up your eth for the duration of the crowdsale.

I was about telling you to go ahead with the project when I read your last paragraph, the clause is funny because if you are going to refund/return the ETH tokens to the investors, why collect it from them initially, you are only wasting money on transaction fee, you need to know to develop a secure and trusted platform like prediction market is not a joke, you need real money to do that. I will also like to ask what will be your own gain in all of this.

because it is needed for distribution. and it will be a modified version of augur. maybe as developer i can have a certain percentage of the tokens created.

Use a snapshot similar to what Byteball is planning. No need to send ETH anywhere.

it's easier to do a smart contract and perfectly safe and fully automated

Ok, at this point, I shouldn't even bother anymore, everybody can see the writing on the wall. But just for fun:

you are actually trying to say that it is easier to write a smart contract, that everybody who wants to participate either has to read and understand or trust in, than writing a script, that checks the balances of submitted addresses at a certain block height, then calculates percentages, then sends out tokens, everything completely automatic and openly visible, without the need for people to send ETH to an address they don't have control over?