[The elephant in the room] It currently costs $40+ just in gas fees to create a market!
- Augur market creation contract uses about 2.5M gas.
- Here are the transactions for market creation https://etherscan.io/tx/0x54209ddb0ab2e036b4177be7960c0792b246fcaf0a4bf3bc86ca0a0a85a3cc6a
- Most of them went through with 40 gwei, couple with 20-25 gwei
- That means that with even the low price of Eth today, it costs $40+ in gas fees just to create market.
- Actually the 0.01 eth bond on top of that is neglible compared to the gas fee :)
- The gwei price will probably only go up with the adoption of Ether, until they introduce sharding (~2020 year maybe)
- So, how are we going to use all these great Ethereum dapps?!