It's full of quality content so read, learn, try to contribute by maintaining the same (or even better 😉) level of quality and last but not least zap ⚡ generously - it's the only way to both prioritize it and incentivize creators that share it!
Here are some intro articles that you need to go through in order to get familiar with the platform and its ideology:
Just want to introduce you to the ~AGORA territory, a place to buy or sell your products and services with other stackers and obviously use bitcoinP2P as a medium of exchange.
Read this intro guide whenever needed, and if you have any feedback or suggestion on how we can make this space more useful, please do get in touch!
Wish you great and prosperous times around this wonderful corner of the internet!
Yes Darthcoin I do not want to completely dismantle the state but I do want us all to be able to be as free from state impositions- just that it seems doubtful most people are ready to be that self reliant and actually not all things the state provides are always bad. Its a reality of human nature that we are generally quite weak as individuals and much stronger in groups- and while human groups can come to manifest great evil and suffering they do not always- nation states being groups of humans are currently the strongest in the competition for resources and until we learn other ways of working together I don't see the nation state dying quite yet...even though Bitcoin does give us the chance of more individual monetary sovereignty. How would you feel about not having any community to belong to or support and be part of? SN is in a sense a community in cyberspace as opposed to geographical but imo all communities including nation states are the sum of their individual parts and sometimes more...so I'm not quitting yet on the nation state and not either believing we can completely do without it. Its not all bad or all good- just what we make it together. Good luck in a life without any state or community- living alone without others is not easy- just try going on 'Alone' and see how long you last!
try rejecting the "-ist" rather than acknowledging the label
e.g. "I'm not a statist, I'm an oblomovist! my preferred political philosophy is oblomovism, as brilliantly explained by oblomov in the book oblomov" (I'm making fun of oblomov's unsympathetic historical context, not of his family and followers; they're all good serious people)
Dont feel any need to reject the label as I do not see it as a negative thing to acknowledge the state is still an important and highly functional means of human organisation which though flawed, just as people themselves are, achieves considerable net gains for billions of people.
Do find it amusing how Libertarians are actually demonstrably so tribal and unaware of their hypocrisy, ganging up on any opposing viewpoint rather than engaging in respectful reasoned debate which would be a minimum requirement for human interaction were there not a state and it was hoped/expected to avoid complete chaos and tyranny.
You are assuming humans are evolved far beyond where they actually are, and your inability to engage in respectful reasoned dialogue and debate are proof of that.
You are assuming humans are evolved far beyond where they actually are, and your inability to engage in respectful reasoned dialogue and debate are proof of that.
You're guessing my interpretations of human morality and evolution from, what, fifty kilobytes of text rambled out in the weird hours of a life you probably don't know much about?
That one line of yours has won you my personal derision, and I should probably save up the efforts to have respectful dialogue with people who don't think their telepathy works as well as yours apparently tells you.
We have made the refund of 5478 sats to your Predyx wallet for the transaction made on Bitcoin market after the timer expired.
Sorry for the inconvenience.
Thank you so much for the kind words and suggestion. We're constantly working on to improve user satisfaction. Once we're done with optimization of performance of the site, we'll definitely make the design better.
I predict if you do not lower the margins charged on bets you will probably never get mass adoption.
It is a highly competitive market and if I make a bet and win it I need to get charged no more than 1% of the net gain to have sufficient incentive to continue participating.
At present the margin charged seems to be far higher than 1% of net gain but it also seems to vary a lot which I cannot understand.
The reward from making a correct bet is not currently sufficient to encourage new users to stay and more users to join.
Other than that it is excellent!
Hey @Solomonsatoshi - thanks for sharing your insights and concern regarding the fees.
@Team_Predyx did an awesome job in explaining the nuances. However I thought it would be nice to clarify few more things:
So far Predyx is not making profits from the fees collected. 100% of our markets run at a loss.
Fees collected are deposited to the market wallet. When Predyx official team or any Creator creates a market, they need to provide the initial capital to provision the initial liquidity. In other words the "initial capital" means worst case loss (WCL) for the market creator. Thus the fees collected go directly into market wallet to offset the loss of the market creator. This how most of AMM (Automated market maker) works.
The default fees for creating a market on Predyx is: 0.45% buy, 0.35% sell and 0.20% win + 1 sats fixed fee per transaction. However the creator can choose to set their own fees. They may choose to offer reduced fees or higher fees. The max fee cap is set to 5%.
There are some creators who choose to offer very minimal fee as low as 0.10% such as @BlokchainB, while there are other creators who choose to offer high fees of 4%.
Thus - it's in best interest of the trader to first check the market fees. And then decide to trade if you agree with the fees.
Ok. My bad I thought you were talking about design aspect of Predyx.
Sir, we are not charging higher than 1%. In fact the fees are far less than 1% and also much lesser than what our competitors are charging.
I suppose you haven't gone through the market page to full length, because there's a section where 'Market Fees' is clearly mentioned under the 'description'.
Yes I read the fees 1% but there are multiple markets I have placed predictions and the resulting return shows far less than they would if only 1% fee.
Maybe I have not understood some aspect but will continue to monitor as the bets finalise as it seems from the current figures in my portfolio that more than 1% is extracted.
For example I have 8000 shares against the prediction that bitcoin will reach USD$140k in 2025. I paid .65 for each share and market price is now .75 yet my profit is shown as only 112 sats or 2%. .75/.65 is much greater than 2%...it is over 15%.
Maybe I am not accounting for dynamics of odds/pricing if I were to sell them on market now?
If I wait until market closes and I win I should receive at least 100/65 x 8000- 1%?
If I wait until market closes and I win I should receive at least 100/65 x 8000- 1%?
In the above mentioned scenario you will recieve 7983 Sats.The win fee is only .20% and there's 1 sat fee for transaction on the market you mentioned. So this will be 17 Sats in fees deducted from your 8000 shares.
(Each share you buy at Predyx stands for 1 satoshi.)
Maybe I am not accounting for dynamics of odds/pricing if I were to sell them on market now?
Yes sir. Predyx works on LMSR which reduces the odds if a sell happens and increases when a buy happens. There should be high volatility in odds in case the market has lower liquidity, and vice versa.
Selling before the market is ripe often is less rewarding because the LMSR detects the trend is shifting.
Ok Thanks for that and I stand corrected.
Am impressed that the actual fees are very reasonable.
Just the perception of gain is less due to market price dynamics.
It must be quite a complex algorithm to price the ever changing market odds!
Well done and all the best.
P2Pas a medium of exchange.The Art of Using Stacker News ⚡
The Art of Using Stacker News II ⚡️