Important things to consider when applying (which you've probably considered but worth stating)
- Business model: You'd be applying as a startup not as an open source project, so it's important that go-to-market considerations are built in to the application. For instance applying as a startup that would provide services tied to Truthcoin (i.e. the PolitiFact-esque reputation service that arbitrates claims) could be a good approach that leaves flexibility to pivot down the way. - Equity: Tied to the consideration of business model is how you'd provide equity to investors. I'm skeptical they'd take equity in the form of blockchain coins, as that's difficult from a compliance standpoint.
Inkling Prediction Markets was a YC backed company so they are interested in the potential of PMs, and it would help with a lot of the chicken/egg problems re: adoption. Seems like a great approach!
This video was a good pitch for laymen on the benefits of prediction markets, but it didn't address the 'judging' aspect except a brief mention of trusted oracles in the bottom header. I don't see how this would be different from existing btc pms.
I recently moved to the Bay Area, which seems like the place to find like minded individuals interested in Truthcoin. I think a meetup for Prediction Markets, with a particular focus on distributed PMs, could be a good way to coordinate and spur development.
I've already talked to a few people who were interested in meeting and discussing Truthcoin/Prediction Markets in general, and I will also promote it to the Bitcoin groups in the area. We'll test this out for the next month or two and see if there is traction and interest in regular discussions, otherwise ad hoc meetups could also work.
If you're in San Francisco join us this Saturday. And for everyone who isn't currently enjoying 70 degree weather (seriously, the CA climate is not overrated) I'll make sure to take notes and post them online.
"Psztorc's Blockchain Protocol for Prediction Markets 0.0 or How I Learned to Stop Worrying and Love Factor Analysis"
I've been conceiving of the protocol & project as "truthcoin", & I suspect that most of the existing buzz/brand recognition is still tied to truthcoin, so it would be costly to rename that aspect of it. Also bitcoin the protocol and Bitcoin the store of value have set a precedent for that type of naming convention.
Regarding the two tokens I like Truthcoins and Votecoins, or Truthcoin and Repcoin, or Predictcoin and Votecoin.
The payout is determined by the consensus of the Votecoins - the owners of the votecoins have an incentive to vote truthfully and fulfill the functionality of trusted data feeds in other prediction market schemes.