The Whitepaper reads:
"Augur has a native token, Reputation (REP). **REP is needed by market creators and by reporters when they report on the outcome of markets created on the Augur platform.** ...
Although REP plays a central role in Augur's operations [understood], **it is not used to trade in Augur's markets.**" -- What trading in what markets?
"Traders will never need to own or use REP, as they are not required to participate in the reporting process."
I assume, here "traders" are meant. -- Why traders? What traders? Who is trading what?
I thought we were participants in a prediction market, ... betting on outcome A or B.
(We are betting with ETH, correct?)
Can anyone enlighten me please? Thanks.