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Nick Tomaino🎩
@nick
Prediction markets have resonated with me since I started in crypto 12 yrs ago. It was initially bc I was a degen & wanted quick cash. Now I’m using prediction markets daily not to bet but as an info consumer to better understand the world. Augur, Veil & others failed. Polymarket now working. How can we accelerate?
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Jonny Mack
@nonlinear.eth
been trying to wrap my head around: 1) does it matter that someone bets on the underdog because the potential payout is outsized, not because they believe they’ll win? 2) how is a "prediction market" different from sports betting? isn’t it just a fancy term to describe the same thing wrt other aspects of society?
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Nick Tomaino🎩
@nick
1) Matter in what sense? The promise of PMs is many different people with knowledge put skin in the game and contribute to price. Price is a piece of information that reflects sentiment. PMs don’t “predict” outcomes they reflect current sentiment 2) Most sports betting is binary. You win or lose. PMs are scalar
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Ayush
@ayushm.eth
Thought on 2 is that it isn't? Except the vibe/view shift that the markets are a great source of information themselves
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Ayush
@ayushm.eth
Great questions! Have been thinking about these two myself for some time Have done 1 few times
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Utility Coder
@utility
Good questions. To me, wrt question 2, a thin line separates the two concepts.
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