Truthcoin-on-BTC site: https://bitcoinhivemind.com
Quote from: MattGoldenberg on May 25, 2016, 04:21:58 PM
Can you walk me step by step of an example of how this works? In my mind it works like this
1. Oracle R(Real) and Oracle P(Parasite) advertise their services.
2. A company pays Oracle R to get it Data S.
3. Oracle R gets Data S
4. Oracle P steals Data S.
5. A company now pays Oracle P because it's advertising cheaper prices and has good reputation.
6. Oracle P doesn't have information to give and is revealed as a fraud.
I see no way for this game to have an equilibrium of Oracle R's price going to $0. Oracle P can only make their move after Oracle R has gotten paid, and Oracle R gets to set the price at which it gets paid. If their are multiple companies getting the same information, it can simply set the price such that many of those companies must pay it. The only way that this game has an equilibrium of $0 for Oracle R s if you switch step 2 to after step 5.
Quote from: psztorc on May 24, 2016, 01:45:53 AM
> Even if there are zero trades and zero trading fees, the oracle still gets paid to judge on the outcome.