Prediction Markets now available in GUI

[TravelsAsia]

I'd like to make the interface more suitable for prediction markets but to be honest I'm not sure how it should look like. Anyone have some examples of other binary market interfaces? Or would like to provide some mockups of how they imagine it should look like?

http://financialproreview.com/wp-content/uploads/2014/12/Capital-Option-affiliates-VIPaffilaites-VIP-Affiliates-binary-options-trading-platform.png

[twitter]

 +5% +5%

[svk]

I'd like to make the interface more suitable for prediction markets but to be honest I'm not sure how it should look like. Anyone have some examples of other binary market interfaces? Or would like to provide some mockups of how they imagine it should look like?

[sudo]

make it esay enough for users

[hrossik]

From the moment I read about PMs on Bitshares I have been thinking about how we could make them more useful ( I don't care about outcomes of US elections too much, nor sports ). And I just found following idea, what do you think about it?

Hanson has been a vocal proponent of using prediction markets (or what he also calls "idea futures") to reform how we deal with controversies in science, academia, and politics. In "Could Gambling Save Science", he writes:

If the primary way that academics are now rewarded for being right, rather than popular, is an informal process for staking their reputation, which has various biases because of its informality, and if we want a better reputation game, why not literally make bets and formalize the process?
Imagine a betting pool or market on most disputed science questions, with the going odds available to the popular media, and treated socially as the current academic consensus. Imagine that academics are expected to "put up or shut up" and accompany claims with at least token bets, and that statistics are collected on how well people do. Imagine that funding agencies subsidize pools on questions of interest to them, and that research labs pay for much of their research with winnings from previous pools. And imagine that anyone could play, either to take a stand on an important issue, or to insure against technological risk.
This would be an "idea futures" market, which I offer as an alternative to existing academic social institutions. Somewhat like a corn futures market, where one can bet on the future price of corn, here one bets on the future settlement of a present scientific controversy.

There are more ideas for usage of PMs. Here is the source.

[xeroc]

Great idea .. use a privatized prediction market, find trustworthy resolvers, bring liquidity and become rich :)

[morpheus]

@sports-owner

The PM can also be used as a binary options market.  Some users have requested being able to trade assets such as oil and stock indicies.  Perhaps we could create a few markets for these assets.

For example,

Traditional vanilla options markets are structured and labeled like this:

SPX160331C1900 - where SPX represents the stock index (S&P 500), 160331 represents March 31, 2016, C means it is a call option, and 1900 represents a strike price of 1900 for the option contract


I propose creating the following markets initially:

WTICRUDEOIL123016_4000     -     If the price of WTI CRUDE OIL is above $40.00 on December 30, 2016 17:00 ET, then 1 share of WTICRUDEOIL123016_4000 is worth 1 bts.  I use $40.00 because current futures contracts for the December contract are just under $40. 

SPX123016_187500 - If the price of the S&P 500 is above $1875.00 on December 30, 2016 at 4:00 PM ET, then 1 share of SPX123016_187500 is worth 1 bts.  I use $1875.00 becasue current futures contracts for the December contract are just above $1875.00

[sports-owner]

I currently have 4 PMs open.

SPORTS.SBLAFC will be worth 1 BTS if the Broncos beat the Panthers in the SuperBowl.

REPNOMTRUMP will be worth 1 BTS is Donald Trump is selected as the Republican nominee for President of the United States.,

DEMNOMCLINTON will be worth 1 BTS if Hillary Clinto is selected as the Democrat nominee for President of the United States.

REPGENSIXTEEN will be worth 1 BTS if the Republican nominee is elected as the next President of the United States.


At this point you are reliant on me to close the markets out accurately.  I would make these committee fed assets, but I have heard nothing from the committee leading me to believe they are interested in doing this.  If there is anyone else that would like to step up to be part of a multi sig account to close these out I am willing to consider it.

If there are any other uncertain outcomes you would like to see a PM for please let me know.

[Riverhead]

Eh. I've got DEN for the win. Anyone thinks the Jags can take em I have open orders ;)

[Riverhead]

I think in the newest version you can just borrow as usual with a fixed  collateral ratio of 1x ..
you still need to sell those shares though

that was it. My wallet server wasn't on the update from the 21st.

[xeroc]

A feed resolves the prediction market:
Read more about the idea:
http://docs.bitshares.eu/bitshares/user/pm.html

So we need to borrow via the cli?

Code Select Expand


borrow_asset <account> <amount> <PMsymbol> <1:1-amount> true


Example: borrow_asset riverhead 100 SPORTS.SBLAFC BTS true

I think in the newest version you can just borrow as usual with a fixed  collateral ratio of 1x ..
you still need to sell those shares though

[Riverhead]

A feed resolves the prediction market:
Read more about the idea:
http://docs.bitshares.eu/bitshares/user/pm.html

So we need to borrow via the cli?

Code Select Expand


borrow_asset <account> <amount> <PMsymbol> <1:1-amount> true


Example: borrow_asset riverhead 100 SPORTS.SBLAFC BTS true

[xeroc]

A feed resolves the prediction market:
Read more about the idea:
http://docs.bitshares.eu/bitshares/user/pm.html

[Riverhead]

Care to explain how it works?

I have no idea - I just saw it while looking at their other assets. I'm guessing eventually a feed will be provided so we can short?

[Riverhead]

+5% +5% +5%

Are you going to do a PM for the Super Bowl?

Can open bids, asks, and collateral positions be cancelled at the beginning of the game?

Can these PMs be created through the gui at this point in time?

Already there :) . Look for SPORTS.SBLAFC:BTS/USD/CNY/BTC asset markets.