Whenever you want a view that’s closest to the “truth”, look at what the insurance rates are like. Insurance companies’ whole business hinges on turning objective reality into money.
Which is why honestly I think we should start betting on everything. The biggest problem is centralized bookies who can’t allow bets the government doesn’t like.
All of the worst, most evil applications of this are already legal for the rich. p2p betting would only help the poor.
You’re basically describing prediction markets, which do exist on p2p blockchains and work in basically this way.
They’re pretty good, but unfortunately what they measure is kind of a hybrid mix of expert opinion and general sentiment. There are people who put money into prediction markets because they have inside knowledge, but there are also people who bet there based on vibes and hope. Whereas insurance companies tend to have fewer outright gamblers working as actuarial analysts.
Whenever you want a view that’s closest to the “truth”, look at what the insurance rates are like. Insurance companies’ whole business hinges on turning objective reality into money.
Which is why honestly I think we should start betting on everything. The biggest problem is centralized bookies who can’t allow bets the government doesn’t like.
All of the worst, most evil applications of this are already legal for the rich. p2p betting would only help the poor.
You’re basically describing prediction markets, which do exist on p2p blockchains and work in basically this way.
They’re pretty good, but unfortunately what they measure is kind of a hybrid mix of expert opinion and general sentiment. There are people who put money into prediction markets because they have inside knowledge, but there are also people who bet there based on vibes and hope. Whereas insurance companies tend to have fewer outright gamblers working as actuarial analysts.
What’s the best one on a p2p blockchain? Maybe I can help.
I don’t use any myself so I can’t really give a personal recommendation. This page has a list of some.
I am not sure the answer to a worldwide gambling epidemic is to make more gambling but what do I know.
It’s the answer to it being difficult to organize a resistance without getting disappeared.