Re: decentralized prediction markets and order books (w/ bitcoin) & meeting

V

Jeffrey,
how are you doing?

I just finished this paper and I think it's super interesting:
http://weis2014.econinfosec.org/papers/Clark-WEIS2014.pdf

The guy is using the Bitcoin infrastructure to create a decentralized market for predictions. Essentially he wrote an extension to bitcoin that can be used to trade any type of financial product without a centralized clearing house/entity.
I figured it could be an interesting read for you as well, also as a follow up on our discussion a few weeks ago.
Speaking of something different, are you going to be in NYC from July 15 to July 20? Do you have time for a meeting?
Vincenzo

J

if I am there I always have time for you, otherwise we can skype

V

great! :) thanks!
I'll talk to Leslie and see what your schedule looks like in that time period, otherwise we'll plan a skype call around those dates

Also if you read the paper, let me know your take on it. I'm curious to hear what you think of it

J

knee jerk response is that it is not a currency trading system or securities trading system but gambling , must be careful, - most of this is outlawed

V

hmm fair point, although I assume that if you regulate what is tradable in the system (and you can since the order book is public, albeit somewhat anonymous) then it should be legal?

Not sure, not really an expert on legal questions in this area. But I find the idea behind it somewhat fascinating

J

not really, even the language in the paper is not well thought through, they use bitcoin as a currency though the irs has said it is not. and they deliniate betting.? ( not a good word ►. money that pays in response to non regulated contracts can be disavowed, have strange tax consequences ( tax on gains but losses non deductible ETc

V

To

Jeffrey E.

ha! had no idea, thanks :)