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What is the currency used for the bets? Can I cash out back to USD? Why not just use actual money or even stable coins? The idea is cool, but I’m never gonna p

• rmbyrro 5y ago
  There's no documentation about that for pretty much any SaaS out there. Any of they could literally disappear with your money and shut the shop down or change its name to continue defrauding others... Edit: you can downvote, but it's true...
  • colinmhayes 5y ago
    Well most SaaS products provide value as you pay, or even before you pay. You're not expecting to get money back once you give it to them
  • rank0 5y ago
    This is objectively untrue. Show me a respectable platform for payments, trading, gambling...etc that do not have documented policies regarding user funds.
    • rmbyrro 5y ago
      If you don't trust the site author, why would you trust something they've written in their own site? My idea of trustworthy documentation on this sense would be an escrow or something like it.
      • K0balt 5y ago
        They give you 1k it’s just internet bux, alpha test not real money
• netman21 5y ago
  It's funny money to begin with. Even if you were based in Gibralter there would extensive licensing to get approved to run a gambling site.
• akrolsmir 5y ago
  Great question! Right now, Manifold Dollars (M$) is just internet currency. The reasons for doing this were: - Much faster for testing out new market systems - Lower barrier to entry for new users signing up - Less regulatory risk for everyone involved But we're actively looking at both the crypto space (for stablecoins), actual fiat like USD, and alternative withdrawal mechanisms (e.g. sending your Manifold balance to 501c3 charities). Attaching real value to these bets is very much something we're interested in!
  • elil17 5y ago
    I love the idea of playing for charity. I’m pretty unmotivated by play money but I would absolutely play for charity if I thought that there was a good chance that my choice of charity would be much better than the average persons.
    • akrolsmir 5y ago
      That's good to hear! Harsimony floated the idea in this post https://forum.effectivealtruism.org/posts/d43f6HCWawNSazZqb/charity-prediction-markets https://forum.effectivealtruism.org/posts/d43f6HCWawNSazZqb/... , and I think it's quite an interesting idea, especially because regulators may look more favorably upon this kind of system if the proceeds go to charity; think of donor lotteries and charity poker nights.
  • justinpombrio 5y ago
    Um, aren't prediction markets backed by real money flat out illegal in the US, except for a few specific exceptions like political races? I hear there's a prediction market that allows you to use real money in the EU but not in the US for this reason.
  • rank0 5y ago
    I'm not sure I understand. I pay you guys money, and get points that do nothing except for allow me to gamble for more points? Just to be clear I'm not trying to shit on your product. In fact, if your platform allowed me to participate with real money I would 100% use it. What do I get for buying access to the service?
• K0balt 5y ago
  They give you 1k in funny money. There is no payment this is alpha