pailakapo on Nostr: "The incentive structure in this scenario is problematic. Individuals with ...
"The incentive structure in this scenario is problematic. Individuals
with substantial financial resources that were gained illegally may seek
friendly relationships with those responsible for issuing licenses."
See Bankman-Fried, Sam.
Smart contracts remove the counter-party risk, but as BitcoinChurch says, the oracle risk moves to the top.
Algo-betting would eat up the margins on all the bets, and would probably bring the "betting line" to match vegas by the time the bets are closed. This would be the open market form of betting.
The oracle problem is real, and tough. The win/loss is probably solvable, but the edge scenarios create a problem. And if its a large enough pool of money, the oracle problem becomes a target for the gambling cartel. Then I lose trust in the model, and it turns into what is currently U.S. voting.
"Indeed, you won the elections, but I won the count." — Nicaraguan dictator Anastasio Somoza (1896-1956), Guardian (London), 17 June 1977.
with substantial financial resources that were gained illegally may seek
friendly relationships with those responsible for issuing licenses."
See Bankman-Fried, Sam.
Smart contracts remove the counter-party risk, but as BitcoinChurch says, the oracle risk moves to the top.
Algo-betting would eat up the margins on all the bets, and would probably bring the "betting line" to match vegas by the time the bets are closed. This would be the open market form of betting.
The oracle problem is real, and tough. The win/loss is probably solvable, but the edge scenarios create a problem. And if its a large enough pool of money, the oracle problem becomes a target for the gambling cartel. Then I lose trust in the model, and it turns into what is currently U.S. voting.
"Indeed, you won the elections, but I won the count." — Nicaraguan dictator Anastasio Somoza (1896-1956), Guardian (London), 17 June 1977.