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Robin Hanson and Bitcoinprinciplesofbtc.substack.com/p/robin-hanson-and-bitcoin
498 sats \ 4 comments \ @k00b 21 Jul 2023 bitcoin
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110 sats \ 0 replies \ @ek 21 Jul 2023
Because money is at risk, this forces these voters to report honestly. If this sounds like proof-of-stake, it essentially is an early version of it. And that's probably why it never received broad appeal within the Bitcoin community.
rolls eyes
I hate when people just dismiss things
I think proof of stake is indeed a potential solution to the oracle problem
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100 sats \ 0 replies \ @netstatic 22 Jul 2023
In fact, Hanson advised a prior company that tried to replace focus groups with prediction markets.
How would this look like in practice?
No CEO would adopt a prediction market that asks if he should be replaced.
Sounds like there's a conflation between prediction markets and voting? Or maybe I'm just misunderstanding something.
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100 sats \ 0 replies \ @SimpleStacker 22 Jul 2023
IMO the problem with prediction markets is the incentive to participate. I'd have to have some inside information to get a net positive return; game theory then suggests that the only people participating are those with inside information, which erodes my advantage. I just don't see enough people willing to risk their hard-earned bitcoin on a zero-sum activity like this.
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0 sats \ 0 replies \ @amnesinggi 21 Jul 2023 freebie
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