Topic: I'd like to start a "guess the price" pool. (Read 183 times)

I want to start a pool for members to guess the price of Bitcoin at the time of the halving next year. The idea would be for each guess to cost 0.001 Bitcoin ( about £2.60 or $3.50 at the moment ). The idea would be to put the money into a time locked wallet. The member who gets the closest forecast gets %0% of the pool, and 25% each goes to the nearest prediction above and below. As the price of Bitcoin increases, then entries will become more expensive in fiat terms. No two entries can be the same, and I'd like to hear some ideas to avoid members being disadvantaged by bracketing.

I've started this thread in the Ivory tower because I think it will need the cooperation of 4 or 5 DT1 members to avoid a Quadriga moment. If a mos thinks it should be in Meta, then please move it, but I would be grateful if it could remain on a board that will provide it with some general views. Maybe a multi-sig restriction would be a good safety measure. If Bitcoin does start a bull run, then the prizes could be significant.

I believe that the price forecast requires skill and knowledge, and it will not fall under the UK lottery regulations.

Any comments or suggestions, either positive or negative, will be welcomed. Entries would be open to all members of Bitcoin Talk, provided they are of good standing at the time of entry.