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0 sats \ 1 reply \ @ek 22 Jun freebie \ parent \ on: Miners Mostly Lose — Bitcoin Prediction Market for Miner Insurance and ROI BitcoinPredictionMarket
Cool, I'll take a look at your prediction market idea! I feel like this is the era for prediction markets, so any fun ways we can utilize Bitcoin, Lightning, and nostr to be the bedrock of that technology will be resources well spent!
There currently is not much to look at since I took it down to rewrite everything with new ideas like using the social graph of nostr for "social bets" (bets within a social context) or m-of-n npubs as oracles. But I also think this is the era for prediction markets! That makes two of us, haha
On your objection to betting markets decentralizing hashrate [...]
I see. Let me try to put it into my own words: This basically opens up a new, potentially highly liquid market into which miners can tap into for hedging. This wasn't possible before so this can make switching to smaller pools safer? Did I get it?
If you have any more I'll be around to answer anything else! 🙏🙏🙏
What about open source? I see no Github link. Is it planned? 👀
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100 sats \ 0 replies \ @HYPERBITCOINZATION OP 22 Jun
What a marvelous coincidence! I also previously attempted a social betting idea and took it down (called it Agora, never really went anywhere)! Seems like last year was the universe attempting to bring forth era of social betting ahaha
I see. Let me try to put it into my own words: This basically opens up a new, potentially highly liquid market into which miners can tap into for hedging. This wasn't possible before so this can make switching to smaller pools safer? Did I get it?
Yup! Precisely! We make it easy for miners to have flexibility and freedom despite variance based pooling pressure that always pushes them to centralize and aggregate hashrate.
What about open source? I see no Github link. Is it planned? 👀
For the market maker mechanism no plans yet, but we are planning on opening up an API and creating an army of self-custodial open source betting bots that anyone can run on a start9, umbrel, or Voltage node! We want to include a variety of high-quality quant betting algorithms so people can have access to the best strategy with the least effort. Then any miner, investor, or technology enthusiast can easily spin up a self-custodial open source betting bot that they can deploy capital into. Rather than spin up more lightning nodes due to altruism (which is still a good motivation), we want to incentivize the growth of the Lightning network through Bitcoin-native ROI. More nodes, more channels, more connection, better for everyone!
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