281 sats \ 13 replies \ @ek 22 Nov 2023 \ on: Stacker Saloon
@Undisciplined @grayruby and all other prediction market stakeholders:
Didn't find time to setup LND on my server yesterday but I am doing it right now. That's why I am looking into mutinynet since they already have a faucet so I wouldn't have to create one on my own :)
curious why @ekzyis is so passionate about prediction market 👀
Isn't it gambling in a sense?
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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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Can you explain it to me like I'm 5?
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What exactly? Regarding mutinynet and the faucet?
Since I don't want to risk real sats on my MVP, I want to run it on signet first. But this means you can't just use your real sats since it's on a different chain / network. So I would need to create a faucet so you can pay invoices. Mutinynet seems to have dealt with this already :)
Also, using mutinynet, I can be a part of a larger network (good for testing) already instead of having to setup and manage a whole network on my own.
Does that answer your question? :)
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Got it
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