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> But even then, you bet 93 cents to win 7 and then pay 5% on cashout so it wasn’t exactly making people rich. Don't forget the risk of the whole prediction ma
by tshaddox 3y ago
> But even then, you bet 93 cents to win 7 and then pay 5% on cashout so it wasn’t exactly making people rich.
Don't forget the risk of the whole prediction market ceasing to exist or doing something blatantly fraudulent.
- olalonde 3y agoAs a former arbitrager on MtGox, Crypto X Change and TradeHill, that's a real risk...
- laserlight 3y agohttps://en.wikipedia.org/wiki/Credit_risk#Counterparty_risk https://en.wikipedia.org/wiki/Credit_risk#Counterparty_risk
- cabalamat 3y agoIndeed. Couldn't the whole article just be replaced by the phrase "transaction costs"?