Jeff Reed > Quotes

“Around $300,000 of the total $600,000 that was raised by Augur's funding team comes from a man named Joe Costello. Costello is a successful tech entrepreneur, known to be one of Steve Jobs' top picks for the new CEO position of Apple itself. Following the smart money isn’t always a dumb idea. Gambling or casino are terms never used by Joey Krug, a young Pomona college dropout, but also Augur's lead developer. He and the small team of just five employees use the term “prediction market.” Due”
― Jeff Reed, Ethereum: The Essential Guide to Investing in Ethereum

“In essence, the fundamental benefits of investing into Ethereum is the cryptographic nature, it’s anonymity, it’s universality, it’s divisibility, and most specifically, it’s coding language which specifically targets it for automated transactions and contracts. The”
― Jeff Reed, Ethereum: The Essential Guide to Investing in Ethereum

“The purpose of Augur is simple but powerful. It will allow any Ether holder to wager money on any future event of their choosing. If the event doesn’t yet exist, anyone can make an event for people to place their bets on. Software built on “wisdom of the crowds” will set the probabilities, collect the Ether bets, and finally, reward the winnings. Because of the ease in which this can be set up, the price for actually running the show is exceptionally smaller than that compared in the average bookie. Only one percent is going to go to the Ether bookie, which is ten times lower than the average today if you go to Vegas. However,”
― Jeff Reed, Ethereum: The Essential Guide to Investing in Ethereum

“With that said, if you were to be a long-term investor in Ethereum, you have to focus on the long-term timeline, with short-term volatility being a necessary even to find traction within the market, and for value to solidify. Thus, if you believe that the demand for Ethereum will be higher in one, two, five, or ten years (your duration in which you plan to hold), then you need not worry about the fluctuations that occur in the interim. Let’s”
― Jeff Reed, Ethereum: The Essential Guide to Investing in Ethereum

“Augur may be destined to become the web’s answer to gambling prohibition—it will do to the betting man what the silk road did to the drug user—but you'd never know it from talking to the developers of the system.”
― Jeff Reed, Ethereum: The Essential Guide to Investing in Ethereum

“Like Bitcoin, there is little stopping Ethereum from being an alternative currency to fiat and commodity currencies. You can conceivably trade anything using Ethereum, but this is not Ethereum’s strength in comparison to other cryptocurrencies (CCs) – they can all do this. It’s rather the computing language that allows the smart contracts to exist that makes Ethereum more valuable than BTC (in my opinion).”
― Jeff Reed, Ethereum: The Essential Guide to Investing in Ethereum