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Vitalik: Predictive Markets' Probabilities More Accurate Than Media-Influenced Judgments

Summary: Ethereum founder Vitalik Buterin stated that in predictive markets, the probabilities given are usually more accurate than judgments influenced by (professional or social) media. He emphasized that in coin voting, there is no punishment for being wrong, only the risk of pushing the outcome to an extremely small probability. However, in predictive markets, being wrong ...

Ethereum founder Vitalik Buterin stated that in predictive markets, the probabilities given are usually more accurate than judgments influenced by (professional or social) media. He emphasized that in coin voting, there is no punishment for being wrong, only the risk of pushing the outcome to an extremely small probability. However, in predictive markets, being wrong results in losing money, especially if a large bet is placed.

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Link: Vitalik: Predictive Markets' Probabilities More Accurate Than Media-Influenced Judgments [Copy]

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