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Yep, despite all the armchair futurists attacking your view, it is exactly correct. Anyone disagreeing please shoot me an email (in profile) and we can make a b
by seibelj 9y ago
Yep, despite all the armchair futurists attacking your view, it is exactly correct. Anyone disagreeing please shoot me an email (in profile) and we can make a bet with an ethereum contract about the unemployment rate at 5, 10, 20, any year period you want and I'll put my money up against you. I've been meaning to make a website to automate this process because I've been hearing these arguments for so long and they will always be wrong, and I want to get rich off people being dumb
- nathan_f77 9y agoHa, that's a good idea about the ethereum contract. How can you make a contract based on the unemployment rate? Can you write code that downloads a csv from somewhere?
- seibelj 9y agoThe concept is called an "oracle", or a trusted contract that will put real data into the blockchain, then other contracts can query it. For example, the NYSE stock exchange would publish closing prices daily of stocks in an official NYSE contract, and other contracts could trust it. This does rely on a third-party intermediary. I think there is a business model here to allow internet commenters to easily put their money where their mouth is. Like on reddit, 2 guys get into a long argument chain, and nothing ever comes of it. If it was easy to just say, "Bet me here if you are so sure," and all the other readers of the chain could as well, there is certainly a lot of takers. I know I would. I'm just so crazy busy right now to implement this, but maybe I'll find some time.