It is a shame that I have to bite my tongue on forward looking features.
Overall I am in favor of providing tools that allow people to create their own PM with their own judges and profit from it. The delegates should stick to the role of block production and price feeds. There are entirely too many different prediction markets out there for the delegates to be the judge.
Isnt the whole point to create a secure decentralized environment for prediction markets functioning honestly? Creating judges seems like more complexity without actually levereging our edge.. might aswell keep pms outside the chain and somehow just reference them.. let some other system worry about the issues since one crack and it would ruin confidence in the whole goal of
the project.
@jidshu
how secure would it be if delegates were to rule on already publicly traded stocks? This opens the door for the SEC to attack delegates with federal lawsuits. They have no leniency policy against this. Why would you want delegates to run a business always in fear of suspicion?
Even in a more mild case of unregistered IPO's, the SEC has administered material penalties.
http://www.crowdfundinsider.com/2014/12/58808-sec-fines-bitcoin-virtual-stock-exchange-conducting-unregistered-offerings/
What does that even mean? If they publish price feeds on stocks and we have MPAs for them.. then we are not trading the actual stock just a token like bitUSD. So I don't see how that has anything to do with prediction markets. My issue is that this judge slate thing won't have security like DPOS and delegates signing blocks. We are creating a whole new system to deal with something that delegates can do. Imagine when price is 200x higher... delegates will be expected to do such things because otherwise people will feel they are not doing enough. Most delegates will be at 1% pay but some may want more and will offer to do more..
The real issue is surfacing what needs to be done for delegates as a checklist through a mechanism such as the mail system.. if that is the bottleneck we shoudl focus on building it and getting it based on specs and then workign with it (the mail system) to deliever tasks to delegates and others who have something "due". Delegates should be "checking in" every day or so anyway or they should be voted out. I have already said we can find ways to work around the "power" issue with delegates by making vested payments... these issues are easier to solve then hacking together something to work specifically for prediction markets.
We just need an integrated application that takes into account all vectors and starts to polish it to become usable.. the core code doesn't have to change just the apps that use the API.
Going forward i was hoping that we would be able to add web services to delegate nodes to do even more things.. ofcourse not through the HTTP server on the wallet but perhaps a hosted service either on the same node or somehow connected, maybe making a mesh network b etween all 101 delegates to allow a "decentralized" web app experience to do social logins, single sign on apps like getclef.com and other things not possible with any other coin (use our edge). If we get away from this paradigm we will end up with a few delegates hosting the services and being the same as any other central service provider... so not any better.