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re: You can now bet on the sex of William and Kate’s baby in Bitcoin
Posted on 7/12/13 at 8:40 am to rickgrimes
Posted on 7/12/13 at 8:40 am to rickgrimes
quote:I just love the bit about approximates cash. That means Predictious doesn't do exchanges. You have to convert your Bitcoins elsewhere.
Predictious is a predictions market conducted entirely in Bitcoin, the virtual currency that approximates cash on the internet.
Suppose you place a bet on the outcome of the 2016 presidential election. You transfer your Bitcoin(s) to Predictious who holds it until the election. The Bitcoin(s) are worth approximately $100 each right now. How much will they be worth if and when you win your bet? In fact, you are making two separate bets. The first is on the outcome of the presidential election, and the second is on the value of Bitcoins. You could win the first bet, and still come out a loser if Bitcoins decline in value sufficiently.
1
Posted on 7/12/13 at 8:51 am to Poodlebrain
I guess Predictious feels if people are dumb enough to invest in bitcoins, they're dumb enough to try anything.
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