Questions to be answered
1.- Create 5 questions that can be used in the Predictive Market. And explain what 2 of them consist of. Be creative and explain in detail.
2.- Explore Polymarket, answer and explain the first 2 questions in the Crypto category. Show screenshot.
3.- Explain in detail a Predictive Market project, it cannot be Augur, Gnosis or those explained in class.
4.- For you, what will happen to Predictive Markets with blockchain technology? Who will benefit from them?
1.- Create 5 questions that can be used in the Predictive Market. And explain what 2 of them consist of. Be creative and explain in detail.
Question 1: will PSG win the champions league this season and boost up the PSG token to its all-time high again?
Question 2: Will BTC attain its all-time high this year again?
Question 3: Will Microsoft surpass apple next year in market cap?
Question 4: WillThe Death toll of covid 19 worldwide will reach 6 million before the end of the year?
Question 5: will the iPhone 13 have higher sales than Samsung s22 ultra and note 22 ultra combined before the end of 2022?
Question 1: will PSG win the champions league this season and boost up the PSG token to its all-time high again?
Paris Saint Germain is a french based football club that has recently broken the internet with their very daring move to sign the best player in the world (arguably) lionel Messi! they also pulled some other very dangerous players, like Sergio Ramos, who is also arguably the best defender in the world, and also Georginio wijnaldum who formerly played for Liverpool and won the uefa champions league with the club before leaving for PSG.
The point is Paris Saint Germain has just made three major signings, who are all champions league winners and this addition to their already dangerous squad may seem unfair to the rest of the other clubs willing to compete in the UEFA champions league tournament. They are also looking forward to wooing paul pogba, a French midfielder to the team before the transfer window closes and this is just greed, in my opinion, 😂 because as it stands now, with the reputation that the players at PSG have, it is currently the strongest club in the world.
For the past 25 years, PSG has been fighting relentlessly to win the UEFA champions league once again, as their last UEFA trophy was won in 1995, but now they look like they are good for the win. They have solidified their defence which was lacking before, a very solid midfield, and probably the most powerful forward force in the football world which looks like it would be able to penetrate any defence.
The Psg token is highly dependent on the growth and happenings in the club, and it recently attained it's current all-time high when messi joined the squad o a free transfer. The growth of the price of the token surged up, because the demand was enormous. The price of the token almost doubled in several hours . The all-time high it was able to attain was $58 and the prediction suggests that psg will win the UEFA champions league this season and their win is what will push the price back up to it's former all-time high. The newly signed players are hungry for the UEFA champions league trophy, because it has been sometime since they last lifted the cup.
Yes Terms
Those who decide to buy the Yes contract have an idea and imply that Paris saint germain will win the UEFA Champions league this season, and the effect of the win will cause the PSG token back to It's all time high once again. This decision is probably supported by the facts I have just stated, on how strong the psg team is, and how hungry the team is for the Trophy, and also how quickly the PSG token reacts to wins of the club.
No Terms
Those who decide to buy the No contract are implying that PSG will not win the UEFA champions league this season and / or the psg token will not reach it's all time high again because PSG won the UEFA champions league this season. This is probably because the team might need time to understand each other and might not figure it out before the actual tournament, or that too many cooks will spoil the broth and the exessness of talent on the team might just be the ending of it's success.
Validity Period
The prediction is valid until PSG is knocked out from the tournament, or the UEFA champions league comes to an end or The PSG token doesn't get to it's all-time high by the end of the champions league, or the champions league win does not affect the price of the psg token up to it's all time high by the end of the season.
Bitcoin is the most dominant cryptocurrency in the crypto world and it is also the father to all other cryptocurrencies like ethereum and stem. At the end last year "2020", the price of bitcoin was estimated around $29,000 and at the beginning of this year the price had just started breaching the $40,000 bench mark.
Then tesla came in with a huge investment and announcement of it's interest in bitcoin. Tesla invested $1.5 billion and also announced that it now accepts bitcoin as a mode of payment. This happened February and caused a huge upward surge in price of bitcoin to an all time high of about $65,000 and this surge happened from February to may, with April being BTC's best month of the year so far.
May 13th had a major event, where there was a shocking announcement from tesla CEO on twitter, that he is not a big fan of the energy use of Bitcoin when being mined, and described it as outrageous and "insane" and allegedly removed his investments from bitcoin . This news drove price below $50,000 the next day!.
Bitcoin took this blow and looked like it was trying to fight against it's decrease in demand and sink in price, when the Chinese government gave the knock out hit with their commencement on the fight against bitcoin, this pushed the price down even more to $30,000 in the same month, since then, bitcoin has seen a low of $25,000 and a recent high of $50,000 the prediction on the table is that Bitcoin price will get to it's all time high of $65,000 by the end of this year
21:38
Yes Terms
Buying the yes contract implies that the buyer believes that Bitcoi will reach $65,000 bench mark on or before December 31st of 2021. This choice might be supported by the growth rate of bitcoin of recent, as it has been consolidating around the $45,000 - $ 50,000 price and looks promising to look for even a newer all time high.
No Terms
Buying the No contract implies that the buyer does not believe that Bitcoin's price will get to It's all-time high on or before December 31st of 2021. This might be supported by the fact that no one truly knows the future of the market and another news can always come up from nowhere and affect the price of bitcoin as it has formerly done in the early parts of the year.
Validity Period
The validity period is from the day this prediction is filed, til December 31st, or if the objective/ aim is met before December 31st.
- Explore Polymarket, answer and explain the first 2 questions in the Crypto category. Show screenshot.
Polymarket is a Dapp based on the main Ethereum that allows users and investors place bet on fields of politics, cryptocurrency, sports, etc.
To properly explore the Polymarket platform, we have to visit poly market site.
in order to take on bets in the platform, we have to sign up so we can be able to deposit.
Now i have successfully registered, we then move to the next.
we click on deposit and explore the page
Here we can see the different means of depositing in polymarket.
going on to check out "withdraw" we can also see the two available options of withdrawing.
To explore the different markets that poly market offers, we dollow the highlighted boxes above and then we can navigate through all the markets available
First two questions: "Will Cardano support smart contracts on Mainnet by October 1st, 2021?"
i believe it will, so i go ahead to buy the yes contract.
What will the fully diluted market cap of SuperRare’s token be 1 week after it starts trading?
(Range: $250M - $3.00B)
i believe it will so i buy a yes contract.
3.- Explain in detail a Predictive Market project, it cannot be Augur, Gnosis or those explained in class.
The name of the predictive market project i will be talking about is called STOX
source
Stox is designed as the first practical framework for direct mainstream prediction market.
This prediction market platform is open-sourced and is based on the Etherum network.
This particular prediction market platform is unique in that it displays an arena for social trading interaction and experiences.
Because it is open-sourced, it gives users the opportunity to forecast events and make predictions in respect to those events via Stox platform.
These events range from sports and politics to crypto markets.
Features of the STOX blockchain prediction market
- offers STX token as an easy way to join cryptocurrency markets
- STX token is used in all activities on STOX network. This includes payment of fees and serves as collateral and currency for investment in events
- STX tokens are fixed. They were completely generated during the initial token launch event
- Fortunately, STOX is harmonious with major operating systems
Home page:
home page continued
Exploring the features of Stox
Placing a bet on stox
the leader board of betters on the platform
features and events
Road map and partnership
4.- For you, what will happen to Predictive Markets with blockchain technology? Who will benefit from them?.
The blockchain technology is an innovation that is in great use by many industrial sectors in the world today.
We can describe this technology as one that possesses a ceaseless growing list of significant track records.
Within a blockchain technology, predictive markets are not well significantly known yet.
There have been moderate attempts to popularize blockchain based predictive markets, but these attempts have been futile and unsuccessful.
No market traction has been acquired.
I believe the growth potential of predictive markets within blockchain technology is high.
Only thing being that this sector needs a little more push and shove in the direction of aggressive advertisement.
Though this sector is quite young and low, I think its development rate is very high.
Predictive markets are described as an exchange traded platform where participants can stake on the outcome or result of a futuristic event.
Futuristic events like results of elections, what the weather would look like at the end of the week and the potential success of a new product released into the market
For me, I will highlight a few points (in my opinion) what will happen to predictive markets with blockchain technology
- Unbarredand open nature:
We all know the boundless nature of cryptocurrencies.
Users can buy any cryptocurrency pushing the prediction markets from any location in the world.
Once the cryptocurrency is bought, it can be sent from any part to anywhere in the globe.
On a normal basis, using prediction markets of any kind are normally limited to the nation in which they were created.
But with the application of cryptocurrencies, we say a big goodbye to this limitation.
-Reduction in restriction:
Most of the popular prediction markets in existence today build huge castles on unnecessary restrictions.
For example, if a staker is gaining advantage in a lot of markets at once, the platform stops the user from betting further.
Now, blockchain based prediction market disposseses such restrictions.
Augur reaffirms this.
- Occasional reduction of fees:
Sometimes, fees on other platforms are higher than fees found in blockchain based prediction markets.
Though this is not always the case.
Sometimes there could be a surge in the price value of the cryptocurrency in the market due to network congestion.
- Inability to close down:
There have been cases where prediction markets have been closed down out of nowhere.
Either due to a temporary glitch or massive system failure or involvement of political or government authority.
One of the primary goals of blockchain based prediction markets is to create markets that nothing can manipulate.
As it is clearly pointing out, the gambling industry would benefit more from predictive markets with blockchain technology.
The gambling industry is practically at the front line of profit gaining predictive markets.
Currently, there are no such things as blockchain based gambling applications.
Having decentralized applications would greatly aid the gambling industry in many areas especially safe withdrawal after a won bet.
Another benefit of having a gambling blockchain based predictive market is the absence of mediators.
Participants of gambling can stake at even higher odds than the usual and earn even higher profits.
CONCLUSION
making a research about the predictive aspect of blockchain was enlightening, and even though i was not able to complete this work due to some technical issues, i really hope it was somewhat satisfactory I thank professor @pelon53 for a wonderful class see you all next season!