Why not create a Gambling platform on Market narrative?

[Dunamisx]

You are describing something that is very similar to futures trading or prediction markets. These things already exist. Memecoins aren't always listed on them, I imagine it might be due to the high probability of getting badly rekt. You can also just buy these tokens outright if you think their price will go up. The interest in these coins will fizzle out rapidly, so it is not worth building a new platform specifically for memecoins.

Upon all the market narratives and predictions received from many of these platforms, how many of them are that reliable and with the accurate results, we are just trying on our best on so many of these platforms to see if they have something different to offer us and make us retain in using them, but are they actually consistent or reliable in what they give on us, talking about these prediction sites, there are many of them, but we also need to have bearing to h=what we want.

[livingfree]

If there's a demand on it then sure that the providers will make one for it. But despite the trend and hype that with all of the mentioned narratives, it just can't be made too easy.

I guess the closest one is just with the market of Bitcoin predicting its price through options. The idea is there but are the developers willing to invest in its development as it will cost them money and resources?

While it sounds good and workable but whenever these trends and narratives goes down, I guess betting on it will also decrease so as the demand. If some devs will make one, they should make a market study before proceeding to this kind of betting.

[Saisher]

Then, why not create a platform for predicting the performance of any cryptocurrency or a platform for predicting future trends in the market or both?

What are your thoughts on this?

This is not a popular concept in the gambling industry, because it is not every market experiences a lot of movement of this kind of concept the developers should know about trading and gambling platforms because it's a combination of both.

If ever something like this comes out it should be properly promoted to the right users, so far the closest we have is Bitwinup

[dezoel]

Futuur and Fairlay offer a unique betting option which your suggestion might be considered. They usually offer almost out of this world betting option especially in politics, showbiz and discovery.

The only problem with this idea if someone will create a market specifically for this is how do you determine the choices and the correct answers if everything is pumping hard. Meme coin is just trending due to social media buzz but Bitcoin is still at top trends if we consider the trading volume which is the most accurate basis for what is the top trend on crypto.

What do you mean by determining the choice and the correct answers? But, you should not worry about that because I'm very sure that both sites above will find a way to fixed that problem, especially Futuur because they are not new anymore on this kind of betting. Meme coin is not new and they will always be there because memes and trends doesn't stop.

BTC on the other hand is the king of crypto, so yeah it will always stay relevant as well. Isn't it better that we can see or hear a new thing? That removes the boredom of the crypto users. This is why there are trends that are being introduced here at some point of time. It makes crypto more interesting.

[crwth]

Predicting trends is a hard challenge that wouldn't be that easy to do and will always be. Seeing the past cycle, it's very different from what's happening right now. Memes are getting ahead and even the halving and ATH has increased. I do hope that there will bee an increase in market cap in the whole cryptocurrency universe as well so there would be an increase in narratives. It's just hard to predict you know?

[Kakmakr]

The one thing people do not want, is for someone to create a new concept or technology for scammers to thrive. We saw this happening with ICOs and NFTs and several Shitcoins being launched and greedy people are attracted to these scams, like a moth is drawn to a flame.

Developers should focus on developing something that has a actual use case and also something that will last for years to come. Build something better than Bitcoin and something that will add value to the world.

[Fivestar4everMVP]

A few years ago, NFT was launched and it set the market ablaze. Many NFT projects emerged at that time, which left investors confused. They began investing in new NFT projects without understanding them, resulting in significant losses. To this day, these investors have not been able to recover from their losses unless they sold their NFT.

Currently, meme coins are gaining popularity, with a new coin appearing in the market almost daily or weekly. The prevailing belief is that meme coins offer the highest ROI, which they are delivering.

Then, why not create a platform for predicting the performance of any cryptocurrency or a platform for predicting future trends in the market or both?

What are your thoughts on this?

Good idea but how is this even possible? I mean, how gamblers of today seems to be the type of gamblers that want really quick actions, they like to see results (at max) a few minutes to one or two hours after placing their bets, so is possibly why, or one of the reasons why live bets on sporting events have become really popular amongst gamblers, rather than betting on a sports game days before the game is to be played..

Now coming back to creating a casino or platform where gamblers can bet on next market narrative that will possibly become popular, we all know that from past experiences, it takes years, and at a minimum, several months before a new market narrative comes into play and gains the spotlight, which gambler will be willing to tie their money down for that long before he or she gets to find out whether he or she had won or not?

Even though I find this idea good and highly feasible, I do not think its a project that will succeed due to, or based on the type of gamblers we have today.

[Haunebu]

Creating gambling sites based on the market narrative is a recipe for disaster if you ask me. It's a high risk, high reward strategy which can only be sustained in the short-term and cannot be sustained in the long-term.

This is why crypto gambling sites generally tend to focus on less riskier options for more stability and peace of mind which makes perfect sense.

[betswift]

A few years ago, NFT was launched and it set the market ablaze. Many NFT projects emerged at that time, which left investors confused. They began investing in new NFT projects without understanding them, resulting in significant losses. To this day, these investors have not been able to recover from their losses unless they sold their NFT.

Currently, meme coins are gaining popularity, with a new coin appearing in the market almost daily or weekly. The prevailing belief is that meme coins offer the highest ROI, which they are delivering.

Then, why not create a platform for predicting the performance of any cryptocurrency or a platform for predicting future trends in the market or both?

What are your thoughts on this?

Such a platform could potentially offer valuable insights and data analytics to investors, helping them make more informed decisions and possibly avoid the pitfalls that occurred with the initial NFT craze.

The success of such a platform would heavily depend on the quality of the data, the robustness of the predictive models used, and the ability to adapt to the market’s fast-paced changes.

If you can develop a tool that provides reliable insights and adapts quickly to new trends, it could certainly be beneficial and might find a receptive audience among both novice and experienced cryptocurrency investors.

[pakhitheboss]

How negative the community has been is outrageous for anyone. The way you guys proceeded with my question was not admirable. Only a few were okay with my suggestion, a few would suggest me the existing platforms. But, none of you could come up with a positive answer. I can create such a platform with my expertise. O need some one who can finance it and who can keep calm for a year.

If you are some one who thinks a one of investment can not.make a difference then do contact me.
 

[paxmao]

Then, why not create a platform for predicting the performance of any cryptocurrency or a platform for predicting future trends in the market or both?

What are your thoughts on this?

This is not a popular concept in the gambling industry, because it is not every market experiences a lot of movement of this kind of concept the developers should know about trading and gambling platforms because it's a combination of both.

If ever something like this comes out it should be properly promoted to the right users, so far the closest we have is Bitwinup

Now that I think of it, any investment platform can be used as a proxy for most predictions that you'd like to make. For example, if you bet on the weather in whatever region, you can use the commodities that depend on such weather. If you want to be iphone 13 will be a bluff, you can short Apple, ... I think that the possibilities are endless if you want to use the markets as your personal playground.

[Uhwuchukwu53]

You would be spending lots of money to create a website for something that may only be popular for a few months. Not sure anyone would risk it.

Lack of long term perspective will always set a limitations for such services,  and considering how useless the service will be also since its almost impossible to predict the future of any hype projects or developments.

So who want to spend so much in developing a site that may not be use,  since the primary element which are the meme shitcoin have short lifespan.

That is correct because this has been one major reason many has sealed their interest never to go into the development, because everyone is looking for investment that can offer a long time profit, even if the profit is short time it should matched the effort and time spent, meme coin and even some shiltcoin many doubt if they  worth investing as there risk is more their good outcome possibility.

It no longer News or to say that one is capitalizing on what the past investors entered in the NFT but looking at many shiltcoin altcoin currently as being shifted to market allot have not withstand the market force and they keep falling, it's an evidence that even the meme mat not be of something different.

It's better to centered one focus on BTC rather any coin that will render someone failure and inability to recover it's investment.

[EarnOnVictor]

You are describing something that is very similar to futures trading or prediction markets. These things already exist. Memecoins aren't always listed on them, I imagine it might be due to the high probability of getting badly rekt. You can also just buy these tokens outright if you think their price will go up. The interest in these coins will fizzle out rapidly, so it is not worth building a new platform specifically for memecoins.

Upon all the market narratives and predictions received from many of these platforms, how many of them are that reliable and with the accurate results, we are just trying on our best on so many of these platforms to see if they have something different to offer us and make us retain in using them, but are they actually consistent or reliable in what they give on us, talking about these prediction sites, there are many of them, but we also need to have bearing to h=what we want.

This is still gambling but within the market scope, and I must say it already exists, only that more casinos are not looking towards it for the reason best known to them. And you are right about the winning possibility, it cannot be helping us to win more than the existing casino games with the way casino betting is offering it now. With the way the few casinos offering the market-linked prediction taking it in my experience, it is not just so palatable.

This is obviously an option trading, but they've modified it in such a way that will increase the risk and will make it difficult for the gambler to win. The one I visited recently was just annoying, it is better to resort to good online broker that are offering the traditional option trading than to go for the casinos-kind of options trading because they've already modified it. Those who are new to this kind of betting way would naturally think it is the way it is, but practically, it is not, they only cause it to be more difficult.

So, if all casinos are following this style of betting that is linked to the market with higher difficulty, what is the good point about it to their customers?

[mak013]

As for me it is silly enough. If you can predict new NFT, it would be more profitable to research it and buy the most interesting without sharing information. If you want just to test luck - just play in common casino, the result will be the same. You don`t need spend resources to create casino with unknown bets - if you don`t know what is NFT, you can`t predict it development.

[pakhitheboss]

As for me it is silly enough. If you can predict new NFT, it would be more profitable to research it and buy the most interesting without sharing information. If you want just to test luck - just play in common casino, the result will be the same. You don`t need spend resources to create casino with unknown bets - if you don`t know what is NFT, you can`t predict it development.

It will be a luck game and it will be unpredictable as the narrative changes every time before a bull runs. What makes it unique is the probability of guessing that narrative. It is not that the narrative changes every day, still the products using the narrative can be questioned as to whether they will succeed or not. This will only help the platform gain more income through advertisements from new projects while they make money through gambling.

[freedomgo]

I'm just curious though, how is it related to gambling?

About your suggestion, that could be possible but there should be a careful analysis that it could go for long term.

I mean the platform is just to predict the market trends, but in reality, we only notice the trends during the bull run. So how about the during the regular season? How can this platform still stay in the business?

[mak013]

As for me it is silly enough. If you can predict new NFT, it would be more profitable to research it and buy the most interesting without sharing information. If you want just to test luck - just play in common casino, the result will be the same. You don`t need spend resources to create casino with unknown bets - if you don`t know what is NFT, you can`t predict it development.

It will be a luck game and it will be unpredictable as the narrative changes every time before a bull runs. What makes it unique is the probability of guessing that narrative. It is not that the narrative changes every day, still the products using the narrative can be questioned as to whether they will succeed or not. This will only help the platform gain more income through advertisements from new projects while they make money through gambling.

May be if it will be used to predict the success of the existing(new, just created) projects it can be interesting. But in this way they have to be fast, adding new projects and different kinds of predictions with different odds.
May be some authors of new project can ask to add them or pay for adding and that sum will become an additional prize for gamblers.
In such way it can be interesting, but it need serious job and serious team to work fast and correct.

[Betwrong]

A few years ago, NFT was launched and it set the market ablaze. Many NFT projects emerged at that time, which left investors confused. They began investing in new NFT projects without understanding them, resulting in significant losses. To this day, these investors have not been able to recover from their losses unless they sold their NFT.

Currently, meme coins are gaining popularity, with a new coin appearing in the market almost daily or weekly. The prevailing belief is that meme coins offer the highest ROI, which they are delivering.

Then, why not create a platform for predicting the performance of any cryptocurrency or a platform for predicting future trends in the market or both?

What are your thoughts on this?

I absolutely support this idea, but, firstly, there are some gambling sites that accept similar bets, and secondly, as yahoo said, creating a website is costly and since there's a chance you will end with no one betting on your site - it's a risky endeavour. Maybe it's a good idea for already existing sites, but creating a platform from scratch I personally wouldn't recommend.

[joniboini]

I mean the platform is just to predict the market trends, but in reality, we only notice the trends during the bull run. So how about the during the regular season? How can this platform still stay in the business?

I think OP assumes that anyone can run a prediction regardless of the market trends. I believe the platform will likely make a lot of money from an unpredictable market since the RNG is not too skewed in one direction. Imagine if you run a betting platform that predicts up or down on BTC but the market is in a bullish period, anyone who bets on down will likely get rekt. That being said, the developer can limit the timeframe to something as short as one minute or so. At that point, it is similar to running an option trading platform instead of a casino.

[Dunamisx]

It can be an idea many would have love to see come through, but we must not neglect the challenging aspect of it as well, we need to reconsider the way people will not want to have a new feature and that same to also be a source of threat to them, which means, there must be a continuous evaluation on such before the introduction and after to see that it meet up to the standard of what the people want from it.