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Technology Stocks : wagerr - betting belongs on the blockchain

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From: Elroy6/5/2019 12:42:03 AM
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Wagerr CEO message in Telegram today....

When three of the non-developer staff and one volunteer recently left the Wagerr Team, I was asked if the project could succeed without them. I can answer that unequivocally: Yes.

Previous members of the team brought valuable knowledge, skills, insight, and experience, which I will miss. But Wagerr currently has many capable advisors who understand betting, statistics, the betting industry, blockchain, and cryptocurrency. Even with the additional attention to the recent community discussions, the Wagerr project continues to move forward without skipping a beat.

The Wagerr developers are nearing the official public release of 3.0, and I am so proud of the team’s efforts. I extend my gratitude to all of the teams and individuals who have contributed, past and present.

Wagerr project funds.
Diversification has been a key element of Wagerr’s portfolio management. There are three types of holdings: original muti-sig wallets, fiat holdings, and strategically managed funds.

Original multi-sig wallets.
One portion of the funds is held in multiple cryptocurrency wallets. This portion includes funds that were never moved from the original wallets. The value of this portion is exposed to market fluctuations.

Movement of these funds can only be authorized by multiple signers. I would like to thank the past signers: Steven Grove, Adam Matlack, and Vaisal Thach. The current multi-signature arrangement requires two out of three signatories to move funds. In the coming days, I will post cryptographic signatures demonstrating that the Team retains control of key wallets and funds.

There are also single-key addresses with project funds. I am in sole control of all cryptocurrency assets in wallets that are not multi-sig, and can post signatures for these wallets, as well.

Another portion is held in fiat. The purpose is to maintain stable funding in order to meet operational costs for the foreseeable future.

Fiat holdings aren’t provable on the blockchain. Furthermore, it would be both difficult and dangerous to attempt to demonstrate proof of these holdings, and attempts to do so would be in violation of our operational security.

Strategically managed funds.
Another portion of funds is strategically managed. In contrast to the the multi-sig funds whose value can dramatically rise and fall passively with the market, the managed funds are actively rebalanced to grow steadily over time as market conditions change.

There is no verifiable and secure way to share information about them.

Diversification and sustainability.
Collectively, the team’s diversification strategy aims to make sure that the project will be supported by a sustainable endowment. We endeavor to protect the net value of the project funds so that all identified goals are achieved, even if there are externalities we cannot anticipate.

Wagerr is a project that is three years in the making. It’s at the center of my professional and personal life. (Just ask my wife and kids!) I’m proud of what the Team and community has accomplished. I believe that you, the Wagerr community, will be as thrilled as I am with the new wallet and other aspects of the project that have been in development. What’s more, I’m confident that these enhancements will lead to greater discovery and adoption of Wagerr, and that bettors and crypto enthusiasts beyond the Wagerr community will take notice.
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