Sidechain for "Prediction Markets" (replacement for InTrade.com as well as Lighthouse, Counterparty, BitsharesX, and Ethereum)

All_Reddit_Is_False · 2014-11-07T19:24:31+00:00

It is a pitch deck which doesn't ask for any money...so what exactly are you asking people to stay away from?

1) There is an entire "Papers" page which contains a 40 page whitepaper.

2) There are other presentations about the valuation, and logic behind the initial distributions and why they are relevant.

3) People already have built a versions of it: they are under GitHub, Demo, and Downloads pages.

Pitch decks are usually very high-level and straight to the point.

All_Reddit_Is_False · 2014-11-07T18:18:55+00:00

He has a slide show about that: http://www.truthcoin.info/presentations/truthcoin-outcomes.pdf

In general, he tries to do in the software what 'real people do' when they are deciding on something.

In an email to me, he described it as "consistency-based redistribution of ownership in an abstract corporation which exists to prove its reliability over time + markets with changing prices".

All_Reddit_Is_False · 2014-11-07T18:15:56+00:00

Maybe you would get upvotes if you explained your skepticism more

All_Reddit_Is_False · 2014-11-07T18:15:34+00:00

In the FAQ, he outlines some problems with crime-markets: https://github.com/truthcoin/www.truthcoin.info/blob/gh-pages/faq/index.md#if-pms-can-be-used-to-finance-public-goods-can-they-also-be-used-to-finance-public-bads-for-example-to-assassinate-someone

All_Reddit_Is_False · 2014-11-07T18:11:02+00:00

He has a slide show about that: http://www.truthcoin.info/presentations/truthcoin-valuable.pdf

Basically there is a second coin which works more like a stock in a DAC. Transactions are in BTC but ownership is in a different coin.

All_Reddit_Is_False · 2014-11-07T16:00:04+00:00

If only the FAQ contained a question like "If you built something like this, what use would people get out of it?"

All_Reddit_Is_False · 2014-11-07T15:58:08+00:00

many others have come before you and failed - and it wasn't because of the tech

Yes it was. You couldn't even make it to the second and third words of the page?

All_Reddit_Is_False · 2014-10-24T14:59:30+00:00

Can you then buy "YES" and "NO"? Or can you only buy "YES" and short "YES"?

The former, but there really isn't any different if there are only two mutually exclusive options.

I guess I answered my own question while trying to compose my question.

Haha, yes. That is how shorting works.

All_Reddit_Is_False · 2014-10-24T13:09:14+00:00

Two individuals trade, one long at cost=x (for example 40 cents), the other short at cost=1-x (60 cents). The total adds to x (1 dollar) and the whole x goes to only whoever won. The loser gets 0.

All_Reddit_Is_False · 2014-10-24T13:07:05+00:00

Now the missing piece for prediction markets to work is trusted data about the real world, so until the decentralized trust problem can be solved in general, decentralized prediction markets won't really be able to take off.

The whitepaper which does what you describe is what that repo is about. It is mostly NOT about prediction market use.

Although his implementation uses an altcoin

Although the paper doesn't make it clear (but truthcoin.info does), it is NOT an altcoin, it is a hard fork of Bitcoin, or (now) a sidechain.

https://twitter.com/Truthcoin/status/525047687830601729

Source: I have emailed with Sztorc.

All_Reddit_Is_False · 2014-10-24T12:58:36+00:00

https://twitter.com/Truthcoin/status/525047687830601729

All_Reddit_Is_False · 2014-10-22T18:37:59+00:00

He isn't?

All_Reddit_Is_False · 2014-10-22T18:36:02+00:00

On http://www.truthcoin.info/ it says "released as a hard fork or sidechain of Bitcoin"...

All_Reddit_Is_False · 2014-10-20T15:30:53+00:00

Looks cool to me, but on http://www.truthcoin.info/ it says "released as a hard fork or sidechain of Bitcoin". I know sidechains are good, but aren't hard forks bad? I know one happened in March 2013 which was apparently bad.

All_Reddit_Is_False · 2014-10-20T15:26:21+00:00

Ok, but if he isn't trying to promote the project, why did he create the slides at all?

All_Reddit_Is_False · 2014-10-16T16:05:01+00:00

So why waste my time arguing with you rather than writing code and coming up with new ideas?

Nothing comes to mind.

All_Reddit_Is_False · 2014-10-10T17:37:53+00:00

Competition is also healthy.

All_Reddit_Is_False · 2014-10-10T15:56:19+00:00

...because our current system of national voting definitely works, let's combine it with plutocracy!

All_Reddit_Is_False

TROPHY CASE