282 sats \ 8 replies \ @Natalia 22 Nov 2023 \ parent \ on: Stacker Saloon
curious why @ekzyis is so passionate about prediction market 👀
Isn't it gambling in a sense?
All of our actions are gambling in a sense, because the future is uncertain.
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I agree, life is a gamble in general cause each action you take is a gamble
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Isn't it gambling in a sense?
it's gambling if you don't know what you're doing imo
is buying bitcoin a gamble? it is if you don't know anything about it and just try to "get rich quick".
same holds true for participating in prediction markets imo
weak hands get shaken out, as they say :)
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it's gambling if you don't know what you're doing imo
could you give me more samples of how people might use it
Like for football matches? horse riding? 👀
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Anything you can predict. Created some examples here.
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There are real benefits beyond gambling, and that's coming from a gambler.
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Good summary (quoted from the article) of why I think prediction markets could be nice:
The problem is that banging on buttons has almost no cost. So an expert’s career is based on setting up a Twitter account and subtle marketing about what correct predictions one has. Even a few incorrect predictions are easy to talk down and thus people like Krugman still have a chance to make predictions. Paradoxically, then, it’s more interesting whether their prediction produces a clickbait article, and more valuable the amount of predictions that can be made into long articles for which the journalist is paid by character count, than their reliability.
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