Show HN: Verifact - A decentralised platform for verifying facts • Hacker News Board

Re: Show HN: Verifact - A decentralised platform for verifying facts

#11

Post by oltdaniel » Sat, Jun 06, 2020, 6:36 AM UTC

aantthony wrote: post #2

Hey everyone, This is a project I'm working on to get more truth on the internet. If deemed factual by the network, you gain more tokens from those who voted opposite to you. It uses the logarithmic market scoring rule (LMSR), and after one side holds a majority for 7 days, that side is paid out (no real money is involved yet, points are all free). What do you think?

I think, the core system isn't thought through correctly. I mean, as I have see clicking on different facts that habe been checked, I can place one or dozens of votes for my opinion. What if there is a user thaz gained so many vote tokens and just outvotes other opiniond on something?

A vote should be binary. I can or can't vote. Summary: The main idea is kinda ok, but the system to solve it isn't something I would trust.

Correct me, if I misunderstood something.

Re: Show HN: Verifact - A decentralised platform for verifying facts

#12

Post by aantthony » Mon, Jun 08, 2020, 6:08 AM UTC

nnn1234 wrote: post #10

Have you looked at ideamarkets.org and whatever happenned with trustory? I dont know why people want are building blockchain based fact verifiers.something in the zeitgiest. Best of luck with this project.

Hey, thanks. Yes I’ve seen them. Trustory was pretty cool. They started with fact-based statements I think, but then transitioned to any kind of debate. Ended up closing down though: https://medium.com/trustory-app/why-trustory-is-shutting-dow...

Re: Show HN: Verifact - A decentralised platform for verifying facts

#13

Post by aantthony » Mon, Jun 08, 2020, 12:44 PM UTC

oltdaniel wrote: post #11

aantthony wrote: post #2

Hey everyone, This is a project I'm working on to get more truth on the internet. If deemed factual by the network, you gain more tokens from those who voted opposite to you. It uses the logarithmic market scoring rule (LMSR), and after one side holds a majority for 7 days, that side is paid out (no real money is involved yet, points are all free). What do you think?

I think, the core system isn't thought through correctly. I mean, as I have see clicking on different facts that habe been checked, I can place one or dozens of votes for my opinion. What if there is a user thaz gained so many vote tokens and just outvotes other opiniond on something? A vote should be binary. I can or can't vote. Summary: The main idea is kinda ok, but the system to solve it isn't something I would t…

I want the staking mechanism to incentivise truth. Binary votes don't provide such a system. Binary votes (aka polls) can be useful to gauge opinions, but are insufficient to aggregate knowledge, and can easily be manipulated. Take for instance the stock market. If all a trader could do was make a binary decision of "Is this company good?" and they only get one vote, that doesn't generate any useful information. But instead ask them how much they're willing to pay for a share, then now we have high quality data about the value of a company, and that is hard to manipulate.