Bitcoin Forum

Dear All, Kind Members!

This morning, I was browsing the predictions markets on blockchain platform in this forum and I was thinking "Where is the catch? Why don't more people use these markets?". I recognize that one of the main obstacles of the popularity of these services is the timeframe. We do not want to wait 1, 3 or even more years to wait until a prediction comes true (or fails). So, who would be interested in the following bot application? -

I would write a bot program in a cloud environment using the data of the web (e.g.: Bitcointalk threads) to crawl predictions markets around the clock 24/7 and collect predictions with an outcome timeframe smaller than a set amount (e.g.: one month). Also, the user could define a strategy. (e.g.: go with the majority of votes). In this way, the users of the bot could automatically pull their money through markets and predictions.

What is your opinion? What do you think about such a bot?

I can't give further feedback at this moment because I don't know how the bot works on prediction, because for me, the predictions are only speculating the result if this doesn't have technical support on how the prediction being made by the bot.

But your whole idea is great since you can pull out your money if you feel the bot isn't right.

Okay then, can we test the site first?

I'm still confused about how this bot works to predict the technicalities? If there are certain basics by which to predict the market then this bot will be of interest to me. Is this bot also free? if the bot is free it will be much more interesting. Moreover, if this bot can calculate the probability percentage based on the math odds calculation, it can be exciting. Too much is my wish, haha maybe because I'm interested in this bot.

Which markets are you referring to? What you are trying to explain seems complicated and tough to understand. There are different kinds of prediction bots available in the market already.

If your bot is focusing on cryptocurrency price predictions, there are many popular options already available. If your bot is focusing on gambling related prediction markets, I think gamblers wouldn't be very interested.

Why? Because most gamblers tend to their own research instead of depending on bots or tipsters.

If it will work to what you have planned then it will be very useful bot for sure especially that the timeframe is not that long to wait and if you can adjust it to weekly then it will be better instead of one month and more.

In this way, short investors and long investors will both benefit using the bot if in case it will be proven useful knowing that predicting the market is always 50/50 chance even if you can collect the latest data out there that will help to make a better prediction as the market is very unpredictable if I were to say.

I agree 100%. That is why I released this thread in the Gambling section.

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If we decide to develop the bot, we could have a free trial.
Now, this is just an idea. We do not have this product. Yet.

We can only assess the performance of the bot if it is already working.
So let us see and wait once you launch this project.
Right now, we can't talk much about it as we have no basis yet of assessment.
There are so many factors in play in the crypto market, so I hope you can catch the major ones.

How is this any different from prediction websites that are already out there ?

Something like https://tipstrr.com/, which allows people to register, share their tips and predictions, and they get upvoted based on what people like or follow. It also provides a transparent list of their past bets, with the predictions they made prior to matches, so all the info becomes verifiable.