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To be fair to Predyx, they're donating the sats he blew to ~Stacker_Sports.
So, RBD will have an opportunity to win them back from all the contests we run.
Poor Predix, they felt sorry! Haha, what a contradiction. Shouldn’t they donate it to the ~HealthAndFitness territory insted? Ahahah
Felt sorry!
For what?? Where?
Do you work with the Predix team?
What does it have to do with I work or not?
I don't.
I just didn't notice in the post mega dreamer did earlier with the boost. Was there a mention about 'felt sorry'?
I think realbitcoindog knew it well that what he was paying for?
Your words actually seem to be suggesting that Predyx is misleading, which I can't see as user.
I read somewhere that they were going to make a donation! If they didn’t feel sorry, they wouldn’t have done the boost. I never said Predyx did it on purpose.
while Predix makes a killing off people’s ignorance. That’s how the game works.
This is where you did.
They could have easily dodged it, or might have just boosted 69k sats. They did much more, can be something as marketing. Or maybe a return to stackers (~Stacker_Sports) for supporting them.
This makes it clear why he did such as big boost.
#1355829
while Predix makes a killing off people’s ignorance. That’s how the game works.
This is where you did.
I’ve explained it already, and you’ve read my explanation. There’s no need to start drama!
I think it had more to do with not wanting to profit or appear to be exploiting the situation than feeling sorry. They were trolling RBD on twitter so they can't feel too sorry for him.
makes sense
Exactly what I also think.
I am going to do a boosted post in health and fitness to share some of the sats but have to think of something good to post about.
You shouldn’t do that. He’s gotta pay for his own stupidity.
It is true we all need to learn the hard way.
At least this made it clear why he hates gambling so much
Besides the liquidity screw up he ended up with a bad beat as well. Rams were the first team in NFL history to have over 500 yards, generate 3 turnovers and not turn the ball over and lose. Haha
lol, clearly they think sats directly in RBD's hands are too dangerous.
They did a 140k sats boost in territory. So they donated much more than RBD's sats.
while Predix makes a killing off people’s ignorance. That’s how the game works.
Poor Predix, they felt sorry! Haha, what a contradiction. Shouldn’t they donate it to the ~HealthAndFitness territory insted? Ahahah
Negative posts like these is the reason why I've been staying away from StackerNews.
And no - I don't feel guilty or sorry.
This is what you're trying to do - is you try to steer people into guilt trip. A very subtle form of manipulation. Nice try.
I will vouch for @0xbitcoiner here. I dont think he understood how it works and just lumped it in with traditional sport books that exploit users, bet against them etc.
I know there are probably a few very loud voices on SN that don’t approve Predyx but I think they are a very small group. Overall most stackers like predyx and want to support a bitcoin native prediction market even if it is not something they are interested in using.
Thanks @grayruby for making me feel at ease. Apologies for the harsh words.
Being a market creator yourself, you probably know better that creating an AMM market with low volume is a loss for the creators.
We've been loosing couple of million sats every month while funding the markets with modest liquidity. The reason we're doing this is that we know this is the only way to bootstrap a new prediction market.
while Predix makes a killing off people’s ignorance. That’s how the game works.
And when someone accuses you of this ☝️ It feel like no matter what you do for bitcoin in terms of bitcoin usability beyond store of value, you always receive hatred.
I wish people understood, that bitcoin will die if it only becomes "store of value" as rightly said by Jack Dorsey.
My bad if I sounded too harsh. English isn't my first language, so I don't always realize how my words come across. I wasn't trying to offend anyone or make random accusations.
My take on betting sites in general—not specifically Predyx—is that they’re built for profit. It wouldn't make sense otherwise. And that profit comes from users, some of whom might be caught off guard, so they need some sort of protection. That’s what I’m getting at. I'm glad this talk led to some changes on Predyx; it shows I wasn't totally off base and that it was worth bringing it up.
Personally, I think Bitcoin should embrace all kinds of use cases beyond just being a store of value, but that doesn't mean I have to dive into everything. Betting isn't really my thing, but hey, people can do whatever they want with their money.
Also, regarding opinions, you should be able to take them in stride—both sides have value. About the platform itself, I think you guys should have a way to freeze markets in case of clear manipulation, like that 1.4M items market on SN. You should probably check with @k00b about that.
Again, sorry for any misunderstanding. No hard feelings on my end.
Thanks for taking the time to explain it patiently. No hard feelings on my side as well.
I also appreciate the value that came out of this discussion i.e. to warn the trader if he's moving odds too extremely.
Happy Holidays and Merry Christmas!
NEVER TELL ME THE ODDS!
Would you have liked to know that 50k of those shares were a guaranteed loss?
Ok that would’ve been helpful
I’ll allow C3P0 to tell me that
I'm thinking a lot of this stuff through for the first time and there are very interesting perverse incentives introduced by prediction markets.
The endogeneity between a market existing and a participant being able to impact the outcome is one of those. It's like the philosophical problem that observing a system changes the system.
There's a lot to unpack with these things, but I don't think the answer is to throttle voluntary transactions between consenting adults. Participants need to be aware of the incentives they're creating in the real world when they place money on an outcome.
It's like the philosophical problem that observing a system changes the system.
If you scroll through the discussion, I think it's clear that people appreciate what you guys are doing and how you're doing it.
There'll always be knee-jerk reactionaries. The test is how those who have tried your product think about it.
Thanks for your kind words and unwavering support from day 1. You, @grayruby and @Coinsreporter have been very instrumental in the success of Predyx.
I will always be grateful for this.
Predix makes a killing off people’s ignorance. That’s how the game works.
Are you alleging something here?
That’s not specific to Predix, it’s how the whole betting industry works.
It should be noted that Predyx being in beta, besides the costs of operations, has lost a ton of sats standing up all these markets with very little fees earned so we can all essentially beta test the product. They are far from making a killing, quite the opposite in fact.
To that point, the reason they charge higher fees on purchases than sales is that they lose money on average when people participate in their markets.
I might’ve used a bit too strong wording, that wasn’t what I meant. Go easy on me, English isn’t my first language.
👍👍
I think you should start using Predyx just casually maybe and you will better understand it's not similar to betting or sportsbook providers at all.
You can even start with 1 sat, also Predyx is a Bitcoin product which we can appreciate.
Poor @realBitcoinDog, jumping into something he doesn’t fully get, while Predix makes a killing off people’s ignorance. That’s how the game works.