Roger Ver Backing Prediction Market Sidechain: 'May Be the Most Important Invention Since Bitcoin'

Roger Ver Backing Prediction Market Sidechain: 'May Be the Most Important Invention Since Bitcoin'

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....


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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 correctly, they win money. If they guess incorrectly, they lose money. People care about their money, so the market price of an event gives us a good answer to the question "Will this outcome happen or not?" It's not magic. It's the economics....

Roger Ver is Betting on MtGox's Solvency

Roger Ver speaking at LeWeb 2013. Photo via LeWeb13. Roger Ver, also known as Bitcoin Jesus, is looking to buy MtGox bitcoins from people who believe the Bitcoin exchange may be insolvent. As reported yesterday, people are already selling their MtGox bitcoins at discounted rates on a new exchange that popped up overnight. Ver made a post on the bitcointalk forum where he stated his interesting in purchasing at least 100 bitcoins from other MtGox users. It's interesting to see this bid of confidence from Ver after so many people in the Bitcoin community have been bashing MtGox for the past....

An Overview Of The Tradeoffs For Different Sidechain Implementations

Each Bitcoin sidechain implementation brings about different centralization and consensus issues to weigh and consider.

Augur Launches Alpha Version of Prediction Market Platform

Augur, a decentralized platform allowing individuals to create prediction markets on a vast array of topics, announced today that it was launching its alpha test."Traditionally, prediction markets have fallen short due to their need for volume in order to be valuable forecasting tools," explained Jeremy Gardner, the Director of Operations at Augur. "Having a global, unstoppable, blockchain-based prediction markets platform means anyone in the world with internet can connect to Augur."However, Augur is not, itself, a prediction market. Rather, it is open-source code for a prediction markets....

Nezha Announces First-ever Insurance-backed Prediction Draw on Solana

The prediction market is a big business worldwide and is known as the earliest form of entertainment. It dates back to at least the 1500s, when people were speculating on the papal successor. In the United States, the earliest recorded instance of the prediction market is from 1884, when political predictions took place on Wall […]