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Then he kept playing a market that was already fully decided, when the only step left was to resolve the outcome. I believe the relevant adage here is "You can't cheat an honest man."
With that said, any trades after a market has concluded but before it is officially resolved should be voided. The market should close at the end of the time window (or the time of the resolving announcement, if that's the relevant trigger point).
> a multi billion dollar casino with rules that can change and you have no option to legally fight it Why is there no way to legally fight this? Is polymarket too de-centralized? Or incorporated in a jurisdiction where that's not feasible? Or are "you can't sue us" ToS actually enforceable here?
For the initial position, he has a case. Then he kept playing a market that was already fully decided, when the only step left was to resolve the outcome. I believe the relevant adage here is "You can't cheat an honest man." With that said, any trades after a market has concluded but before it is officially resolved should be voided. The market should close at the end of the time window (or the time of the resolving…
For the initial position, he has a case. Then he kept playing a market that was already fully decided, when the only step left was to resolve the outcome. I believe the relevant adage here is "You can't cheat an honest man." With that said, any trades after a market has concluded but before it is officially resolved should be voided. The market should close at the end of the time window (or the time of the resolving…
Is that not how it is? I'm not really following the thread. So is polymarket paying out on the initial position, i.e., the one taken before the window closed, and not on the position after it was a foregone conclusion? Or was the whole position reversed?
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OK, on rereading, it seems like the polymarket stance is that the confirmation was not available by the deadline. Fine. But the whole "resolved to no" doesn't make sense. Leaving aside the after-the-fact bet, this is just a terrible structure. The whole thing should unwound and everyone who participated should be reverted.
FTFA: > I supported Polymarket for years because I believed they represented crypto values. > > In fact, their platform is simply another bucketshop where if you bet too much, you're going to get cleaned. Please, tell me more about these “crypto values”. Are they values like, “no regulations,” “rug pulls,” “funding ransomware”?
FTFA: > I supported Polymarket for years because I believed they represented crypto values. > > In fact, their platform is simply another bucketshop where if you bet too much, you're going to get cleaned. Please, tell me more about these “crypto values”. Are they values like, “no regulations,” “rug pulls,” “funding ransomware”?
It sounds like they were scammed, and I feel bad for them. But they probably don’t realize how funny this comment is. > I supported Polymarket for years because I believed they represented crypto values.
Despite having a lot of scammers and bad actors, crypto does have an underlying ethos that attracts a lot of people. And that ethos is one of removing intermediaries, robust cryptographic security, open and unrestricted participation for all, and letting people have as much financial freedom as possible. A lot of us still fight to push those values forward.
> a multi billion dollar casino with rules that can change and you have no option to legally fight it Why is there no way to legally fight this? Is polymarket too de-centralized? Or incorporated in a jurisdiction where that's not feasible? Or are "you can't sue us" ToS actually enforceable here?
Earlier quoted context omitted.
Despite having a lot of scammers and bad actors, crypto does have an underlying ethos that attracts a lot of people. And that ethos is one of removing intermediaries, robust cryptographic security, open and unrestricted participation for all, and letting people have as much financial freedom as possible. A lot of us still fight to push those values forward.
I mean, the main ethos of crypto is 'antisocial' (code is law, no intermediary, circumventing laws), which first drew people like younger me and other people 'on the spectrum' with socializing issues, as well as a lot of scammers and grifters.