Show HN: Zentrade.io – Bitcoin Prediction Markets

Re:Show HN: Zentrade.io – Bitcoin Prediction Markets by dispense on Friday March 07, 2014 @12:16PM (#7361410)

There is no such thing. In a 2 out of 3 transaction, 2 out of 3 parties have to agree for the transaction to happen. Thus, if the winner agrees and the arbitrator also agrees, the transactions is conducted. It's a cryptographically secure agreement.

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Re:Show HN: Zentrade.io – Bitcoin Prediction Markets by brador on Friday March 07, 2014 @12:45PM (#7361598)

What if the arbitrator is colluding with the loser?

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Re:Show HN: Zentrade.io – Bitcoin Prediction Markets by yummyfajitas on Friday March 07, 2014 @12:56PM (#7361675)

This problem is not solved via 2of3 transactions.

It can be partially mitigated by requiring multiple arbitrators (e.g. a 4/5 transaction with 3 hopefluly independent arbitrators).

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Re:Show HN: Zentrade.io – Bitcoin Prediction Markets by dllthomas on Sunday March 09, 2014 @11:34AM (#7368675)

Unfortunately, there's no really good way of establishing that two pseudonyms are not held by the same person, in a decentralized system. Doubly so when legal enforcement isn't available. Of course abuse is harder the more arbitrators you incorporate, but expense and difficulty are higher as well.

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Re:Show HN: Zentrade.io – Bitcoin Prediction Markets by dispense on Friday March 07, 2014 @01:34PM (#7361859)

That's a human problem, not a Bitcoin problem.

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