The Truth Behind Truthcoin
Some people say money is the root of all evil. Others say its a necessary evil. Most can agree that it's an important human innovation. But it hasn't been widely acknowledged that the human desire for money can actually be used to peer into the future. A Prediction Market (PM) is a place where people can bet on the outcome of an event. If they guess....
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Prediction markets sound crazy. People “bet” on what the future will be, and the reported results end up accurate predicting the future. Truthcoin's Paul Sztorc, a decentralized prediction market pioneer, recently joined Epicenter Bitcoin to chat about how the future might look if these markets get off the ground. But first, he explained how prediction markets, such as Truthcoin, work. As Sztorc put it, “a prediction market is a market for buying and selling predictions just like you can buy and sell anything you want—orange juice or milk.” Users put their money where their mouth is; they....
In one of the more exciting developments in the Bitcoin space so far this year, noted Bitcoin angel investor and entrepreneur Roger Ver has given his blessing to a Bitcoin 2.0 application, and it's one that some may have overlooked in the past. Truthcoin, a Bitcoin sidechain designed by Yale Department of Economics Researcher Paul Sztorc, is described as a "peer-to-peer oracle system and prediction marketplace."The platform is a decentralized method of bringing external data, such as the price of gold or the weather in a particular city, to the blockchain, which can then be used as the....
As we progress into the future, the necessity for Truth remains the requisite base upon which all else must be built.
Bitcoin returns the world to a state of truth, which will have incredible ramifications on the feedback mechanisms we exist under.
The Truth about Bitcoin is... Well, it depends, you see. It depends on where you stand in relation to Bitcoin. If you're an orthodox central banker, the truth about Bitcoin is an erosion of power. To a politician, Bitcoin is a meme and a fad to be taken advantage of, and most importantly, it represents cheap and easy campaign donations - to hell, for now, with its revolutionary core. To journalists (those in the know, anyway), Bitcoin is the hot topic of our time. The journalistic truth about it is that Bitcoin generates story after story, day after day: crazy stories of mindblowing....