4 ms·
fun, but "Our goal is to make prediction markets an order of magnitude easier for you to create and share" is a lie. your goal is to take a % lol
by the_cat_kittles 5y ago
fun, but "Our goal is to make prediction markets an order of magnitude easier for you to create and share" is a lie. your goal is to take a % lol
- mtnGoat 5y agoEvery “doing it for the community” project makes me think this.
- akrolsmir 5y agoGlad you enjoy our site! To be frank, we do plan on monetizing by taking a percent of profits (right now, we're modeling a 1% fee on trading profits, much lower than traditional betting sites). We do think it's important to set up incentive systems for all participants to do the right thing, and this includes ourselves (the platform) to support continued promotion and feature development. However, we also all really, really believe in the usefulness of prediction markets, and hope that this turns out to be a valuable public service!
- the_cat_kittles 5y agoive been listening to people trying to convince the world of prediction markets utility since the old iowa electronic market days. it would help if you had like... a single example. i find them fun, but i dont think they offer all that much beyond that, sorry
- graderjs 5y agoSo...I take it you're...against democracy? I mean, it is basically the same dynamic. Right? People vote based on a prediction of what they think will be a "good" outcome for themselves, the ones they care about, and probably society as whole (for some folks anyway), and they [spend money] to do so. Erm..or that's the theory...let's ignore all the misinfo, short-term emotive-not-substantial-issue optimization, special interests...etc Basically, your "single example" is the governing system of most of the 'Western liberal' world. What do you think about that? [spend money]: People are spending real money to vote (not just in supporting donating to a candidate) but by how they expect their choices will cost them or reward them financially (and of course there are other 'non fiscal' costs and benefits associated to different choices). I guess you could argue that's different but to me it seems it's pretty much the same.
- elil17 5y agoThey did do this based on a grant from the Star Slate Codex guy
- akrolsmir 5y agoThat's correct, we were fortunate enough to win an ACX Grant (https://astralcodexten.substack.com/p/acx-grants-results https://astralcodexten.substack.com/p/acx-grants-results)!
- graderjs 5y agoI don't think that's a lie or a good example of one. You can both have a desire to make something easier for people, and to profit from that. Each does not automatically exclude the other. Isn't that sort of like saying, "You say you love that man but you don't really, you just want to marry him so he gives you money."? Which can be true...yet you say you know it's a lie, but you don't know that.