Topic: Bitcoin equivalent to old intrade.com site? (Read 675 times)

That's really cool!

Glad you took the idea and ran with it.

It's about what I had in mind

We now offer such a similar service as InTrade but with Bitcoins: Predictious. You can trade predictions on Sport, Economy, Entertainment, Politics, Business, Science. Like on InTrade, you don't need to wait for the market to settle to sell your shares, you can make a profit early. And like InTrade, the odds are fixed: you decide how much you want to buy each share for (from 0 to 10mBTC), if your prediction is right, you then earn 10mBTC per share.

You can find our official bitcointalk tread. Don't hesitate to give us market suggestion or ask any question you may have.

I think that most people are working on more simple things. A market where you would buy and sell positions in the manner of Intrade would be more complex. Maybe in the future.

It would take a lot of work, that's true, but there's nothing really stopping it from being done.  Just wondering if anybody's done it already

Would be hard to develop mate.

Hi there.

Anybody remember the old intrade.com site?  It was very useful during the 2008 and 2012 elections in the USA.  However, it was taken down.  An obvious idea is to make a clone of that site, but now using Bitcoin instead of "traditional money", to avoid the financial/bank problems that Intrade ran into.

Does such a site exist already?

I found betsofbitco.in which lets you place yes/no predictions, however, it isn't based on a contract that can be bought/sold like Intrade was.  The big advantage of Intrade was that it gave everybody an accurate percentage prediction on whether or not something would be coming true in the future, based on the price of that contract, so people could use it as a crowdsourced prediction tool.

The contracts paid out at 100% if true, 0% if false, and before the outcome of the event was known, it was floated on an open exchange, to trade freely, by posting bids/asks within that range.  Speculators could buy or sell contracts.  Short selling was also easily handled without running into margin problems, because unlike a traditional stock market, the maximum risk of these contracts is known, as the value can never go above 100%.

If a clone of Intrade doesn't already exist in the "Bitcoin world", well, that's your market opportunity!

Is anybody working on such a site?

Josh