alt Hacker Newsyes, they allow you to pay people who have information about the future for that information, in a distributed manner. this is great if, like many people, you want information about the future.
Replies
coldtea • today at 1:29 AM
Information about the future without power to do anything about it (except bet on it), like is the case for most information and most people, is useless.
tester756 • today at 1:45 AM
That sounds cool and fancy in theory, but how do you find that information among the noise?
like if 50 ppl vote A, 45 people vote B and 1 person who actually knows their shit votes B?
How do you find it? By amount?
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The prediction market itself is a ouija board. You're given a number. You don't know who's moving the needle or why. You don't know what you're paying for. Maybe you're paying for information from people who are breaking someone's trust by giving it to you? Or maybe you're paying them to make it happen?
Although, sometimes a market provides incentive to publish information that's associated with the market being influenced. For example, someone can do an investigation, short the stock, then publish it.