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gwern comments on Making money with Bitcoin? - Less Wrong Discussion

18 Post author: Clippy 16 February 2011 07:17PM

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Comment author: gwern 25 February 2011 02:09:24AM 2 points [-]

If you just want to register predictions, I've already got a few set up on PredictionBook.com:

An actual prediction market is redundant - it's a financial currency. If you think peoples' probabilities are too low, you go long (buy/mine bitcoins), and if too high, then you short it (borrow for a period & sell).

Comment author: Alicorn 25 February 2011 02:46:13AM 11 points [-]

I think he means a prediction market about propositions that do not themselves relate to bitcoins, which one can bet on with bitcoins.

Comment author: gwern 25 February 2011 02:48:11AM 5 points [-]

Oh; that's actually a good idea, the usual bootstrapping issues aside.

Comment author: MBlume 25 February 2011 07:38:21AM 3 points [-]

What Alicorn said =)

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