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He did need 1 million dollar simply to make a one time 50k return, and it also seemed like it took considerable effort to do it. I don't know how many people wi
by didibus 6y ago
He did need 1 million dollar simply to make a one time 50k return, and it also seemed like it took considerable effort to do it. I don't know how many people with that money also have the know how, are aware of these betting markets, and care much that they'd make an extra one time 50k.
I think it'll be interesting to see how crypto based betting markets evolve and if regulations will strike them or not. I don't really know what to think about people simply full on gambling on whatever world event, is that a good thing?
- Tenoke 6y agoHe locked 1m dollars to take a loan to use, he didn't use 1 million dollars. You can use your assets directly and do earn a 10%+ profit on whatever you put in this case (which I did).
- dragandj 6y agoI don’t know why everyone here is talking about dollars, while there is zero dollars involved all the time. The author did not put in any dollars, but his ETH, which he has plenty, since he created the Ethereum thingy. That may be a large part of the answer why no one “exploited” that hole: most people would have to put real dollars in, expose themselves to all kinds of crypto gymnastics, and end up with ETH, which may or may not be convertible to real dollars where they live. And, yes, they would also have the always pleasant exposure to tax authority now (which may or may not be solvable, depending on the place of Earth one happens to live at).