Crypto-powered prediction market flourish during US presidential election
Crypto-powered election futures have seen a wild 24-hours of trade, with decentralized platforms Augur and Polymarket posting record volumes. The 2020 U.S. presidential election has driven significant action across crypto-powered predictive markets.Ethereum’s co-creator Vitalik Buterin took to Twitter during the counting of votes to praise the success enjoyed by crypto-powered prediction platforms amid the election season, stating:“Regardless of who wins from here, I definitely think that the prediction markets have proven themselves more accurate than the polls/models this time....
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It’s election season and now it’s time to get active: betting on the 2016 Presidential election in bitcoins is a thing! It’s going to be a wild one, so buckle up. There are still numerous events forthcoming before the election on November 7. Things could change. In the meantime, we laid out the best places on the web to profit off the US election by placing bets in bitcoins. We should note: don’t gamble away more than you afford to lose. Read on to see the insights given by the current odds for the 2016 presidential election. Fairlay – This prediction market for Bitcoin offers an enticing....
Emerging Ethereum-powered predictions platform Polymarket produced six-figure volume amid the first presidential debates. The first debate of the 2020 U.S. presidential election had no clear winner, but crypto-powered prediction platforms are having a field day. Election futures on crypto derivatives exchange FTX boomed, with the platform’s CEO reporting more than $4 million in open interest trying to pick the winner between Democrat Joe Biden, and Republican Donald Trump. On FTX, Trump’s brash debate performance got a big thumbs down and drove a 10% crash in the price of futures contracts....
More than 100 members of our community offered their U.S. Presidential Election hopes and predictions. How do they think Trump or Biden will affect Bitcoin? The post Bitcoiners Weigh In On The U.S. Presidential Election appeared first on Bitcoin Magazine.
There may be fireworks. As the 2020 U.S. presidential election draws near, two crypto traders on Twitter shared their predictions for how Bitcoin's price could react to the event. "If we have a clear winner and an easy transition of power, I do not see much of an impact on the price per coin," trader BigCheds told Cointelegraph. "On the other hand, if we have a close and/or contested election, we should see a bounce in risk-off assets like gold and Bitcoin."The election is a summation of 2020's wild year, with a number of other factors also remaining at play. "This election year is....
One of the more interesting applications of peer-to-peer finance is the concept of a prediction market - a market where people can speculate not on stocks and commodities, but rather real-life events. A prediction market might issue an asset that pays out $10 if Hillary Clinton wins the 2016 US presidential election, and $0 otherwise, and people would be free to either buy or sell the asset (short selling, or selling shares that you do not own to have a negative exposure, is just as easy as selling). The asset would then find a natural market price, say $2. If you think Hillary Clinton has....