Vitalik: Current prediction markets lack social significance; I have personally made money by betting against the FOMO in the market.
BlockBeats news, on January 28, Ethereum founder Vitalik Buterin stated in an interview with ForsightNews that the markets currently being heavily promoted on the Polymarket platform include topics such as "Which team will win next week" or "Will the Bitcoin price go up or down in an hour." In the long run, these short-term bets actually do not have much social significance. In theory, prediction markets are successful as a tool, but we need more meaningful applications.
Vitalik said that last year he used a principal of $440,000 and made $70,000 on Polymarket. The method was to look for markets that had fallen into "crazy mode" and then bet that "crazy things won't happen." When market sentiment falls into an irrational "crazy mode," betting on the opposite side usually makes money.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
NVIDIA (NVDA.US) downplays CEO succession rumors: no official contact with potential candidates yet, calling all speculation "premature"
Nvidia has downplayed speculation that the company is already in contact with potential CEO candidates, stating that it is still in the process of selecting a headhunting firm to seek a successor for ousted leader Jensen Huang.
GIGADEV dropped 10.1% in 24 hours
To prevent liquidity support from being seen as QE, Federal Reserve's Logan proposes separate accounting for market functioning bond purchases and accelerated sales.
Dallas Federal Reserve President Lorie Logan stated that the Federal Reserve should completely separate market-functionality bond purchases from monetary policy operations, record them independently, and commit to selling them as soon as possible in order to dispel market concerns over the Fed potentially suppressing long-term yields. She emphasized that a full understanding of the Fed’s decision-making logic by the market itself has a stabilizing effect.
Organigram Receives Nasdaq Notice for Minimum Bid Price Noncompliance
Crypto prices
More
