"a bet that the price of ETH will be above X at Y date and time" Not so fast. Who says 'what the price of ETH' is? There is no such thing as 'the price of ETH'

"a bet that the price of ETH will be above X at Y date and time" Not so fast. Who says 'what the price of ETH' is? There is no such thing as 'the price of ETH' - there are simply buyers and sellers each willing to sell and buy at different amounts. You'd have to agree on a mechanism to agree on what that price even is. And what about odd fluxuations? Market cheaters - i.e. getting a hold of a vast quantity of ETH just to jolt markets for a few hundred milliseconds just to jigger some contract? As far as 'paying out on delayed flights' - that's a very cool idea, but I can't imagine why on earth it would be in ETH on a distributed ledger.