I Made My First Market on DublUp!
I made a post earlier this week talking about some of the projects I'm bullish on. I'm not going to pretend to be some kind of guru or oracle here (except on dublup), but all 3 projects have shown forward momentum since then. It's kind of hard to be wrong when Elon decides to throw 1.5 billion into a bull market though, so it is what it is. Anyways, let's get into what this post is about.
I decided to put my money where my mouth is and make a market backing up my claims that HIVE is ready to pop. Ironically a few hours after I made this market hive shot up to 19 cents and I started thinking I should have aimed a little higher, but it doesn't matter if HIVE goes to 10 bucks tomorrow if it isn't still above 20 cents on 2/20/21. If you feel bullish on HIVE, feel free to pile on with me and if you think I'm dead wrong, feel free to try to take my PAL. You can find the market here.
Obviously I want to see this tool gain in popularity as I'm an oracle and one of the biggest PAL whales now. Yep I was that guy buying all that PAL people have been dumping for 2 years. I think the Oracle system is actually really cool and seeing awesome new oracles like @eturnerx @mattclarke and @hiveqa join me in the first week is pretty exciting.
My favorite thing about the site though is that it can provide an awesome tool for the HIVE community as well as earning potential for PAL dolphins without charging anything. The market creation fee is burned, 100% of PAL put into the market is returned to the participants, creator, and oracles, and due to the randomized nature of oracle selection there is no competing to become a "top 20" oracle. Once there is more than 20 oracles, everyone still has a shot at validating markets and earning!
If you are into speculating on future outcomes, be that price action on your favorite cryptos or the outcome of sporting events or anything else that can be verified by independent third party sources, then check out the site! Even if you don't like to speculate, being an oracle is a pretty easy way to earn crypto. I'm excited to see where this goes and I hope to see you in the community discord!
Posted Using LeoFinance Beta
I love the concept; and the execution is clean, neat and simple.
Glad we've added totals on each side.
I wonder if we could also do a Current payout per YES share and Current payout per NO share to show exactly how much one can expect to pull down if nothing else changes before the market closes. That's how bookies show it.
("Paying $2.30" means for every dollar you put in, you get $2.30 back.)
Imagine having this for HE tokens, so we could bet on their prices and pay the fee maybe in HE token (or just pay in pal, but could gamble on HE tokens prices). Would be a killer dapp in my book, I wrote it to Aggy and he said he will bring it up in the next meeting..
I think I overbooked the "no" side on your bet, cheap "yes"'s now!!
Great post.
Dublup is a solid project. I love supporting it and awesome job team!
Perhaps you can answer a couple of questions I have. In your market the market close seems to be at the point that the outcome will be known, and the event expiration seems to be a day later. Am I reading that correct? If so, what's the event expiration meant to represent? And if I can 'bet' right up to the point that the outcome will be known, that seems strange. What am I missing here?
You can actually make markets that expire well before the event if you'd like, with this one being short term I wanted to leave it open, but you could say stop it a day or a week or a month early depending on the type of market and time frame you are working with. If you wanted to say, close it one day earlier. The event start day would be the same time one day earlier, then the expiration would be right on time, then there would be a 24 hour cushion to allow for change.
If I am right, Market creator shell out 50 PAL and get 1% share in total pool of ticket sold. Does it mean that apart from fun, it need to sell more then 500 tickets to remain economically favorable for creator?
Yes, on popular markets that shouldn't be hard to do. Markets have been getting up to 200-300 shares already with the site still being really new. As it grows that shouldn't be too difficult. Keep in mind, right now that's about a dollar to make a market. I would say making markets people are interested in is important though.