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> LB is just not a big priority for the Long Now Foundation, and I expect it took vastly less investment to launch or for continued operating expenses. It's not
by gwern 7y ago
> LB is just not a big priority for the Long Now Foundation, and I expect it took vastly less investment to launch or for continued operating expenses. It's not surprising it accomplished less.
Sure, it's not a priority - now. Because it failed. But it had quite a splashy launch and they had high hopes and really pulled in their board of luminaries for the initial batch of predictions. It launched so long ago it could have dominated any emerging online prediction markets. It had the opportunity, a useful goal, a nonprofit backing, tremendous goodwill, and celebrity. But instead, even something like Augur, a weirdo cryptocurrency project which formally launched hardly a year ago, will turn over more in a month or two than LB over 2 decades.
- jessriedel 7y agoThanks, that's useful background
- duskwuff 7y ago> But instead, even something like Augur, a weirdo cryptocurrency project which formally launched hardly a year ago, will turn over more in a month or two than LB over 2 decades. Maybe I'm just missing something, but Augur seems pretty dead to me? I only see three bets currently open (one about the UK general election, two about NFL games). That being said, the Long Bets project was always about high-profile individual bets, not the larger markets that Augur seemed to be trying for.
- gwern 7y agoWhat are you looking at, https://predictions.global/ https://predictions.global/ ? An estimate of $2.6m at stake sounds pretty good to me, compared to LB which has like $40k at stake right now. It's also worth noting that as part of the migration to Augur 2, Augur 1 is supposed to be gradually shutting down: https://www.augur.net/blog/v2-transition-update/ https://www.augur.net/blog/v2-transition-update/ https://www.augur.net/blog/v1-cutoff-update/ https://www.augur.net/blog/v1-cutoff-update/ So that may be reducing activity.
- duskwuff 7y agoI was looking at the site that's linked from the augur.net home page, which now only lists two markets: https://cloudflare-ipfs.com/ipfs/QmaM5kLjo21i2eCSiaDQh4S1dG4vUdFkgKYQjQUiD66wHg/?ethereum_node_http=https%3a%2f%2feth-mainnet.alchemyapi.io%2fjsonrpc%2f7sE1TzCIRIQA3NJPD5wg7YRiVjhxuWAE&augur_node=wss%3a%2f%2fpredictions.market:9002#!/markets https://cloudflare-ipfs.com/ipfs/QmaM5kLjo21i2eCSiaDQh4S1dG4... I don't know enough about Augur to understand what the difference between the two sites is. What does seem strange to me, though, is that predictions.global claims that $2.6M is at stake, but the top 10 markets sorted by "money at stake" only sum up to roughly $288k at stake. (The last one in the list is under $1k, too, so I have a hard time believing that the remaining $2.3M is all in the long tail.)