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Whoa, I thought anyone today already knows that words "market"+"prediction"="scam"
by juskrey 14y ago
Whoa, I thought anyone today already knows that words "market"+"prediction"="scam"
- jey 14y agoCare to elaborate for the ignorant among us?
- hackerboos 14y agoMarkets are unpredictable.
- jplewicke 14y agoMarkets are only hard-to-predict in terms of future prices and returns. If all you want to do is to compare the relative value of two assets, the current price is a great place to start out. For example, the market is pretty sure that Exxon Mobil is worth vastly more than Groupon. Likewise, a prediction market does just fine at telling you stuff like "Romney is much more likely than Ron Paul to be the Republican candidate."
- smsm42 14y agoInterestingly enough, online prediction markets do not predict the markets, just as online dating sites don't date anyone. They provide a platform for other people to try and predict. Of course, many of these people would be wrong, but that doesn't mean the platform itself is a scam.
- kybernetikos 14y ago"market prediction" and "prediction market" are two very different things.
- Zigurd 14y agoIowa Electronic Market is run by the University of Iowa. It seems to be accepted that it isn't gambling and it isn't a scam. While Intrade might have been mismanaged, there is nothing fundamentally dishonest about a prediction market.