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In today's daily discussion, we started to make bets if my prof knows about LNURL-auth.
Essentially, bets where money is staked can be used for prediction markets. However, afaik, prediction markets are often shut down due to (financial?) regulations.
Wouldn't therefore nostr be a good fit for this?
On first glance, I didn't find anything related to building prediction markets on nostr.
Yes I think it would be good because you can sign all your claims and bets
Would just need a design, and then an implementation
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I am still clumsy in my interactions with nostr as can be seen with my failed fiatjaf ping, haha
Did you find this post via that nostr note?
Thanks for your feedback!
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I found this note through the awesome:
It's a great idea! Fiatjaf actually built a prediction market into his previous project, etleneum.
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Nice idea.
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Copy trading on nostr would be interesting.
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Absolutely agree — copy trading on Nostr could open up exciting opportunities for social trading in a decentralized way. Imagine following top traders’ strategies transparently via Zaps or relays. It would align perfectly with the open ethos of Nostr. Would love to see myself contribute build a simple prototype or start a NIP around it.
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#You make a valid point about the benefits of incorporating copy trading into prediction markets. By allowing users to replicate the trades of more successful participants, less experienced traders could definitely benefit from the knowledge and expertise of others. However, it's important to consider that this approach could also potentially lead to herding behavior, where users simply follow the crowd without conducting their own analysis. To counteract this, perhaps platforms could implement some kind of rating system or reputation metric based on performance and reliability, helping users make informed decisions when choosing whom to copy
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Asked on nostr about it:
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