Connect with us

Hi, what are you looking for?

ELEVENEWS

Ethereum

Vitalik ButerinExpressed his Opinions about Prediction Markets in a Post

Vitalik in his prediction markets post stated,why wouldn’t people just come in and buy the token until the price rises more? And if nobody has done this, who are you to think that you’re smarter than everyone else?

While discussing several other things, he went ahead stating, the non-blockchain prediction markets which people used before 2020 have all sorts of restrictions which make it difficult for people to participate with more than a small amount of cash.

He further pointed to how as a result, if a very smart individual or a professional organization saw a probability that what they believed was wrong, they would only have a very limited ability to push the price in the direction that they believe to be correct.

He also points to how although the stodgy old-world centralized prediction markets may have low limits and high fees, the crypto markets do not!



He pointed to Augur or Omen and stated that there’s no limit to how much someone can buy or sell if they think the price of some outcome token is too low or too high.

These lines just point to how the market is made up of cool-headed traders and others who outbid the overly optimistic ones.  Also, probably he was trying to promote Augur or Omen.

Be reading at all these statements, we feel that prediction in the cryptocurrency market is one of the reasons for why someone would invest in a token, either thinking the price would go high or sell it thinking it would go low.  It just appears that there is no straight jacket formula about the whole prediction thing.  It just looks like there is nothing called 100% reliable prediction.

Someone stated, If you feel threatened by an open, credibly neutral money system that’s accessible to anyone and purely opt-in maybe that says something about you. Cryptocurrency is literally a choice and the benefits and innovation cannot be forcibly thrust on to someone.

Mark Cuban, in a Defiant Podcast stated:  ETH has an advantage over BTC as a store of value.  Smart contracts enabling friction-free banking changes everything.   America 2.0 is going to be built on blockchain. A big part of that is going to be DeFi.

It is only practical in the current trends to own both and then one would benefit from both, add a dash of decent alts, and the crypto investor has already got a halfway decent portfolio that can weather the storm. American and DeFi will be 100% true very soon.

Advertisement
Advertisement

Copyright © ELEVENEWS