21–30 of 263 posts
What value do prediction markets give to anyone not in the insider trading class? I predict these will be banned when someone finally uses them as an "assassination market".
Now of cocourse there are bots circling watching for insider trades. Which you can "milk" by pretending to insider trade and then hedging a bet against them. A whole eco system of scoundrels
Yet more evidence of the rapid disassembly of the social contract and our collective ethics, aided of course by unregulated tech. If you work for – or are involved in the funding of – these unregulated gambling and insider trading platforms, you should be ashamed of yourself. Your greed and lack of concern for the health of the human world you live in is sickening. You can get bag after bag but it will never fill the…
This applies to almost everyone working on SaaS; not in all cases, but the absolute majority work on SaaS means creating artificial scarcity in order to extract value from people. It is a fundamentally evil, antisocial, anti human thing to do. If you believe that is okay to restrict access to infinite resources to preserve the status quo you deserve the same place in hell as the people pushing gambling. Don't create…
The original idea behind SaaS is to align the incentives of the customers and the software company.
Historically software companies made money on selling upgrades. This meant bug fixes were not a priority, and security fixes were something companies got shamed into doing.
SaaS fixes that incentive problem. With reliable ongoing revenue a company can keep software patched and updated and doesn't have to cram a bunch of new shiny marketable features in just to make a huge sale every 3 or 4 years, while engineers try and add whatever bug fixes they can after the shiny new features have been polished off.
It also means software companies don't have boom or bust cycles with hiring. Funding stays consistent, and so does staffing. It makes the financials much easier to manage. Companies used to hire a bunch of temp employees in the run up to a release.
Ongoing release cycles also led to better software engineering practices. More automated tests, reproducible builds, better version control systems, and a lot more things that we take for granted now days.
There are obvious downsides to SaaS as well, but the original idea was good.
What value do prediction markets give to anyone not in the insider trading class? I predict these will be banned when someone finally uses them as an "assassination market".
[1] https://www.cultivatelabs.com/crowdsourced-forecasting-guide
What value do prediction markets give to anyone not in the insider trading class? I predict these will be banned when someone finally uses them as an "assassination market".
I thought the point of them is they are “truth machines” they give a financial incentive for the insider class to essentially share what they know. The benefit to those outside the insider class are that we now have a better idea of the potential outcome.
[1] https://www.psychologytoday.com/us/blog/inside-out-outside-i...
What's the statute of limitations on such things? Because it won't be prosecuted by 2029 but could be afterwards Personally I think it's a bigger problem when the President sues his own government for billions and then orders them to pay it out Because -that- is not an official act. It could be prosecuted but no-one will touch it even after 2029
Unless somebody snitches there's no real way to prosecute insider trading. You can say you just felt like making a trade, or that you read one of Trump's posts the moment he put it up on Truth Social and you just happened to have the trade ready to go. Unless they're absolute morons, the people doing insider trading for large sums of money will have already built a strong alibi.
An employee with access to Truth Social's backend can in theory do this by reading the tweets he's writing before he sends them.
You need centralized regulation to make it work.
Yet more evidence of the rapid disassembly of the social contract and our collective ethics, aided of course by unregulated tech. If you work for – or are involved in the funding of – these unregulated gambling and insider trading platforms, you should be ashamed of yourself. Your greed and lack of concern for the health of the human world you live in is sickening. You can get bag after bag but it will never fill the…
This applies to almost everyone working on SaaS; not in all cases, but the absolute majority work on SaaS means creating artificial scarcity in order to extract value from people. It is a fundamentally evil, antisocial, anti human thing to do. If you believe that is okay to restrict access to infinite resources to preserve the status quo you deserve the same place in hell as the people pushing gambling. Don't create…
Maybe this is just my lack of understanding in how most SaaS companies operate... But to me making software that people find valuable and charging them for that is not inherently immoral. Surely that is the majority of cases?
Earlier quoted context omitted.
Unless somebody snitches there's no real way to prosecute insider trading. You can say you just felt like making a trade, or that you read one of Trump's posts the moment he put it up on Truth Social and you just happened to have the trade ready to go. Unless they're absolute morons, the people doing insider trading for large sums of money will have already built a strong alibi.
> Unless they're absolute morons, the people doing insider trading for large sums of money will have already built a strong alibi. My theory is they are banking on preemptive presidential pardons in Dec 2028.
https://www.msn.com/en-us/news/politics/trump-plans-to-pardo...
https://www.independent.co.uk/news/world/americas/us-politic...
Earlier quoted context omitted.
I thought the point of them is they are “truth machines” they give a financial incentive for the insider class to essentially share what they know. The benefit to those outside the insider class are that we now have a better idea of the potential outcome.
This is what their argument is, and personally I think it's a pretty good one. But the main issue is that retail is getting fleeced and lives are being destroyed by gambling, so non-professional investors should not be able to use it. Imo, the upside (some fisherman with insider knowledge betting on the Strait of Hormuz) doesn't outweight the downside (a large-scale societal gambling epidemic[1]). [1] https://www.psy…