Thursday, 11 July 2013
Predictious is a new Bitcoin Prediction Market launching today
Users buy predictions using Bitcoins when they think an event will happen, and get rewarded in Bitcoins if the event occurs. It covers various events in several categories: sports (winner of the Tour de France), politics (winner of the US presidential election 2016), entertainment (sex of William and Kate’s royal baby).
Currently, all Bitcoin prediction markets and betting websites use a pari-mutuel system. Predictious takes a different approach. It functions like a stock market where shares represent a particular outcome of an event. This has several benefits for the user, as not only can they set their odds (by setting the price), but they can also cut their losses or even profit early by selling a prediction before the event deadline, if they no longer think it will happen.
Predictious is operated legally by Pixode from Ireland, like the famous (now closed) prediction market InTrade. Since Bitcoin is an anonymous currency, users can use Predictious from any country in the world.
“Prediction markets are about things ordinary people can relate to, like a sporting event, an election, or the winner or a TV show ”, said Flavien Charlon, CEO of Pixode, “people feel more in control when investing in such predictions than they do when investing in complex and sometimes obscure financial products”.
Bitcoin is a decentralized digital crypto-currency. It cannot be controlled by a single entity, accounts cannot be frozen, and it has close to zero transaction fees, which makes it the ideal currency for this type of service.
Request your Invite here
Posted by Editor in Chief at 16:09