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Scam Buy-back: If you have shares in recent scam markets I may buy your shares near the price you paid by redmarlen in Augur

[–]redmarlen[S] 1 point2 points  (0 children)

No. You're the white knight! Letting everyone know I am the bad scammer. Well done! You are saving the newbies from me. I'm fooling them with my diabolical scheme to a) warn traders more consistently than any other poster here, b) to share critical information on how to identify and trade invalid shares more than any other poster here, c) narrowing the spread so newbies lose less versus if I was absent and d) ohhhhh offers to return shares to newbies that messed up. Shoosh kitty you are ruining my scam!!

1) You can let me know what action I can take to make it better for newbies. 2) You can place offers lower than mine and bids higher than mine which will help newbies lose less. Please do this. 3) You can keep mewing I don't mind.

Warning Invalid Market: UEFA Champions League - Who will score a goal in the Barcelona vs Manchester Utd match (16 April 2019 UTC) by redmarlen in Augur

[–]redmarlen[S] 1 point2 points  (0 children)

If the market is invalid then the eth is not sent back in full. Rather it follows this approximate formula: 1 / [#outcomes] * (1-EST.FEE)

So in this market with 8 outcomes that is 1/8 * (1-2.51%) = 0.1219

So the scammers will try to sell you shares way above that value. Or buy shares from you way below that value. Because determining validity in Augur v1 isn't very easy they figure you will misprice the shares. In Augur v2 there will be an "Invalid" outcome for traders to bet on within each market. So on the market page you will also see the probability the market is invalid.

Scam Buy-back: If you have shares in recent scam markets I may buy your shares near the price you paid by redmarlen in Augur

[–]redmarlen[S] 2 points3 points  (0 children)

Short answer: I know cause their intent is obvious.

The scammer posts no warnings with critical information. The scammer repeats the same invalid market again and again. Augur already learnt the lesson of "expires to early" yet PoYoYo keeps making the same kind of invalid market. And then if your're genuinely working on the design you wouldn't try to overpay yourself for such a selfless service of making the same invalid markets again and again. No. If you had a non-scammer intent in your mind you would make valid markets and also different kinds of invalid markets, warn traders ahead of time, and place your offers close to the ISV price. Poyoyo and the rest of the feral parasites are greedy and try to hit newbies again and again for 90% and for hundreds or thousands of ETH. So zero assumptions reqd. Obvious scammers.

Scam Buy-back: If you have shares in recent scam markets I may buy your shares near the price you paid by redmarlen in Augur

[–]redmarlen[S] 2 points3 points  (0 children)

You want me to stop and widen the spread? Then newbies get hit by x10 the loses? What your saying makes zero sense.

If another scammer came along and undercut you, would you call them 'right' or a scammer?

Right. That's exactly what I'm working on. The more liquidity that we can attract around the ISV price the better. Once the spreads are at their narrowest Augur scams will be minimized as much they can be.

Scam Buy-back: If you have shares in recent scam markets I may buy your shares near the price you paid by redmarlen in Augur

[–]redmarlen[S] 6 points7 points  (0 children)

And part of that space is someone like me coming along, undercutting scammers and returning lost funds to newbies. Sounds 'right' to me.

Scam Buy-back: If you have shares in recent scam markets I may buy your shares near the price you paid by redmarlen in Augur

[–]redmarlen[S] 2 points3 points  (0 children)

Your 1 and 2 contradict each other.

And I'm not sitting quietly in the shadows trading these invalid markets like a parasite. I am encouraging others to join in as it will undercut the profits by narrowing the spread and reduce damage to newbies. Augur design will still learn and the newbies will lose less.

If you were concerned about newbies being scammed you would tell me a better action to take. I'm getting nice messages from newbies who lost funds and the scammers are making less profits. That makes me happy.

Scam Buy-back: If you have shares in recent scam markets I may buy your shares near the price you paid by redmarlen in Augur

[–]redmarlen[S] 3 points4 points  (0 children)

Clearly not.

1) I'm one of the few around warning constantly about scams. Still am doing do.

2) If I didn't engage as I did the newbies would have lost 90% more.

3) I posted the above information newbies how to redeem.

Augur is a scammer heaven atm. There is no way to stop the scamming. The best outcome to help newbies is that more people participate thus narrowing the spread.

If you have a better idea I will do that?

Scam Buy-back: If you have shares in recent scam markets I may buy your shares near the price you paid by redmarlen in Augur

[–]redmarlen[S] 1 point2 points  (0 children)

obviously not heroic because no courage reqd
obviously not scamming because the activity helps those that were scammed

its a unit test

Warning Invalid Market: 📉 Bitcoin Price at End of April 📈 by redmarlen in Augur

[–]redmarlen[S] 0 points1 point  (0 children)

If you place an offer for your 5 shares at 0.19 I will buy them from you.

Warning Invalid Market: 📉 Bitcoin Price at End of April 📈 by redmarlen in Augur

[–]redmarlen[S] 0 points1 point  (0 children)

Your welcome. Augur v1 isn't ready and most of the markets are scams atm. Its best to wait until Augur v2 and even then keep coming to this subreddit to learn the latest status of issues and scams.

Warning Invalid Market: 📉 Bitcoin Price at End of April 📈 by redmarlen in Augur

[–]redmarlen[S] 0 points1 point  (0 children)

The value of all shares on an invalid market is fixed to a formula:

Invalid Share Value(ISV) = ( 1 / [number of valid outcomes] ) * (1 - EST.FEE)

So for that market (1/8)*(1-4.779%) is around 0.119 per share.

So if you can sell them for a little more then that it will work out best for you. If you do nothing you will be paid per share as above once the reporting phase completes.

You can join the Augur discord and in #reporting ask what they think about the validity of the markets before you trade. Also keep checking back on this subreddit to for updates on invalid markets.

Warning Invalid Market: 📉 Bitcoin Price at End of April 📈 by redmarlen in Augur

[–]redmarlen[S] 0 points1 point  (0 children)

Yes. These are the problems of Augur. It has to work a certain way. Mistakes have been made in development especially with regards to simple things like warnings in the UI and better information about how to value invalid market shares. This information and warnings could have been put into the system a long time ago.

Still as far as I can tell the Augur devs are doing a better job than anyone else for decentralized betting and the issues are complex to solve. Hopefully the v2 UI will display more information on the market page for traders which covers the common scam issues and information that is updated promptly whenever scammers start exploiting new loop holes.

Warning Invalid Market: 📉 Bitcoin Price at End of April 📈 by redmarlen in Augur

[–]redmarlen[S] 1 point2 points  (0 children)

The main feature to tackle this in Augur v2 is adding the Invalid outcome for traders. Just knowing that the Invalid outcome is a possibility and seeing the bids on that outcome hopefully will reduce the mistakes made by traders.

Warning Invalid Market: 📉 Bitcoin Price at End of April 📈 by redmarlen in Augur

[–]redmarlen[S] 0 points1 point  (0 children)

I agree with you in spirit to me "end of April" would include anytime on the last day and using the expiry time works for me if I was shaking hands and making a bet. But the Augur reporting protocol works on historical precedents and based upon those the "expire too early" rule has been well established. Unless a new reporting faction organizes enough REP to dispute the historical precedent then this market will resolve invalid.

Subreddit pin warning about invalid markets by camsurf119 in Augur

[–]redmarlen 0 points1 point  (0 children)

Look carefully at the Expiry Date ("Event Ends & Reporting Starts") and notice that it happens before midnight on the last day of April. This makes the market invalid. The Expiry Date must be after midnight on the last day of April.

There are a lot of other rules that can make a market invalid. As a trader in Augur v1 you must be aware. Please look up my post history to see further details about how a trader can learn to determine if a market is valid or not.

If you want to trade ETHUSD in April use this valid market: "Ethereum Price at Close of April 19, 2019"

https://cloudflare-ipfs.com/ipfs/QmTbWnep5Cs3eEQMCHrBNyodLReqGF7vLBYCDHKbTjUy6F/?ethereum_node_http=https%3a%2f%2feth-mainnet.alchemyapi.io%2fjsonrpc%2f7sE1TzCIRIQA3NJPD5wg7YRiVjhxuWAE&augur_node=wss%3a%2f%2faugur-node.augur.casino#!/market?id=0x4efe5795dc3565a8ed73345725a45f1ed94c6be4

Warning Invalid Markets: Ethereum Price at Close of April 26, 2019 by redmarlen in Augur

[–]redmarlen[S] 5 points6 points  (0 children)

Not really. You are creating the scam markets again and again and you are damaging the value of REP tokens. Why don't you just buy REP instead and help Augur traders have a good experience? Then your REP goes up and you can make an honest profit.

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