New “Bookie” Exchange could drive ETH Marketcap to $Trillions
Bookie, the upcoming decentralized Sports-Betting exchange d-app, is about to drive a massive wave of buyers to the ETH token. This new peer-to-peer betting platform is poised to disrupt the $1 Trillion a year sports-betting industry when it launches in a few months, by allowing users to wager their ETH tokens on sporting events from anywhere in the world.
Bookie is part of a new breed of d-apps - blockchain projects that are creating real-wealth for their holders through profit-sharing and other incentives, rather than the speculative “roller coaster” that drives demand for most other projects. Bookie isn’t just another server-based betting platform that “accepts” payment in ETH - Bookie is built directly on the blockchain, and it seeks to become premier sports betting platform for digital currencies while driving the demand for ETH tokens mainstream.
“Bookie should bring a huge amount of trading volume to ETH by introducing worldwide access to sports-betting with the ETH token.”, said Jonathan Baha’i, President of PBSA, a non-profit organization that is helping fund the development of Bookie. “More betting volume equals more profit for ETH investors, which is a huge win for Ethereum.”
Since Ethereum has begun to reach critical mass, many projects are finding ways to connect their blockchain apps to Ethereum. Distinguishing itself from other d-app projects, the Bookie team says they are hoping to bring provable-fairness to the sports betting industry by eliminating the “house” so people can bet directly against each other.
So how can you get involved with Bookie?
Still in Alpha testing phase, Bookie is being funded through a crowdsale of Peerplays tokens (PPY), which are profit-sharing tokens that pay dividends to their holders. The dividends are made up of the fees & commissions that Bookie charges people to use the d-app. Holders of these PPY tokens will receive a portion of the ETH profits that are earned every time someone uses Bookie to wager on a sporting event.
To contribute, visit https://www.peerplays.com/crowdfund
The Bookie development team has been building blockchain-based games since early 2016 and now has software developers and promoters in Europe, Asia and North America. The “Bookie” d-app will be simultaneously launched in several languages, with the first versions going live Q4 2017.
Is this just another amazing new concept in the Ethereum universe… or are we finally getting closer to the “killer d-app”?
To learn more about Bookie, visit http://bookie.exchange
even though Coinbase keep telling me i can't trade in ETH in my region West Africa,i will love to have some of it in savings...
Took part in the peerplay crowdfund, looking forward to future developments! I'm interested in the witness program, where is the best place to get info?
I think the potential of PPY is massive, but I cannot find a prospectus for the crowdfunding campaign. Can you point me in the right direction?
Upped, followed, and resteemed.
You want to review the Peerplays Memorandum Bulletin here: https://www.peerplays.com/news/primary_crowdfund/
@peerplays you're saying "Bookie is being funded through a crowdsale of Peerplays tokens" But Bookie is an ethereum-based DAO ( or Dapp) and Peerplays is graphene-based. I'm just confused as to how two different blockchains are involved, or are they? And where does this fit in? Which of theses entities are working together and which are competitors?
Where did you get this false information? http://Bookie.exchange is designed and built to run on Peerplays, which is based on the Graphene blockchain. Peerplays is a DAO/DAC in itself. Check out the FAQ area of the Bookie site
Thanks for pointing that out. I guess I had bookie.exchange confused with https://dao.casino/
So the two are competitors. Can you say anything about the difference between them. Perhaps one is more adapted to a particular niche and vise-versa.
Also, I'm still confused about where Ethereum factors into this.
According to the Bookie FAQ, all crypto-currencies can be supported but initially the site will be launched for Bitcoin only betting.
Not a competitor. More like marketed like one.
Peerplays governance is determined by its PPY token holders. Dao.casino is centralized to the dev team and what they decide will run (could more easily be argued to be the owners and likely to face that regulatory hammer). Peerplays gaming experience is real-time. Not possible in dao.casino. Peerplays supports multiple crypto-currencies. dao.casino is limited to the tiny faction of people in the world holding eth. Peerplays has scalability. dao.casino suffers from all the same things every single other project in ethereum suffers from which prevents scalability (don't believe us, talk with the augur guys or any other projects yet to release anything scaleable after years of dev and find out why).
Since Peerplays came on the scene May of last year many have tried to copy us in our wake. We have yet to see anything that can be considered 'competition'. What they are doing though certainly looks like an interesting experiment.
Hope this helped.
Thanks! Yes, that helps a lot. Still I don't see what would drive ETH marketcap to Trillions of dollars. Why would ETH be favored over all other cryptos available?
There are a few factors to consider in how Peerplays works that contribute to this. First, ETH is faster than btc and has greater support than some other crypto currencies and it will depend on onboarding support what most choose.
Second is Peerplays profitsharing mechanism. With all the ETH wagered with the profit is then distributed to all PPY holders. This increases the holders of ETH and thus the utility. This will also increase the volumes and thus the market cap.
We are talking about a real working production level application designed to take on all markets. This impact will be dramatic.
Mind you if another crypto make a better showing in the network, all of that could shift.
Whom ever manages to be the crypto of choice in Peerplays for the end users will likely end up being the most dominate in the market.
That makes sense. Thanks again! So how would the average PPY holder collect his profit-sharing in ETH? .. assuming he invested with bitcoin and doesn't even have an ETH wallet.
edit:
The FAQ descibes UIA tokens and Gateway tokens.
I guess these tokens will be used to distribute profits to PPY holders.
http://www.peerplays.com/news/faq/
How long should it take for your peerplays token balance to appear when doing the transaction using Steem? Thanks
Allow 2-3 hours is posted on the site.
It seems to have been resolved! Thanks.
I'm thinking of buying some. How is it different from Gnosis which went from 0.33 once it hit Poloniex to 0.04 half an hour later? OK now its back to 0.053 but still a massive difference.
Profit sharing token #nowords
So it won't turn into an exchange coin? Look I know it might be dumb question. Give me some time to digest all the information I got in the last month.
We anticipate it being traded on many exchanges including the ones that currently have Steem and Bitshares trading. If what you are looking for is another ICO pump and dump this is not the project for you. A PPY token holder will derive profit shares of BTC ETH DASH STEEM BTS LTC or whatever other crypto currency is being wagered with within the network. Your Peerplays wallet will literally become a basket of the most real used/utility currencies. #micdrop
'Dump' part worries me more than 'pump' :) OK. I'll try to get in the crowdfund. I hope the above info is useful to other people, too.
Looking forwards to hopefully using Gridcoin on bookie (and peerplays) in the future, keep up the great work :)
OMG.... the adoption is really happening with crypto currencies. 4 years of watching, studying and accumulating. This is only the beginning. ETH is my favorite one and has been for quite some time! These are very exciting times!
#feelingthelove
do i understand correctly that peerplays tokens (ppy) are like "shares" of peerplays but to place bets ETH are used?
will buy some then :-)
Correct #mindblown
I need to ask again :)
I dont need to wait until the crowdfund has ended, right? So when I transfer any chosen cryptocurrency (I chose BTC) to the given address I already receive PPY? Any my redemption key is practically my PPY wallet address?
Your keypair.txt redemption keys are how you will be able to unlock your PPY token when the blockchain launches May 30th.
thanks! will there be a wallet app?
Seems a bit late by Q4, Gnosis and Augur seem to have the ethereum wager consensus market covered, but there aur two categories of success in betting, those who strike first and those who survive regulation, it is rare to see the same tech pass both. However, by definition a decetralized market lacks regulation, but someone always guards the threshold. My question is what will they all bet on after they find out all public sporting is as legit as WWF and Sumo?
#seems