The sell off was greeted by Chinese buyers as Chinese premiums edged up to just over $1 an ounce on the Shanghai Gold Exchange (SGE). Gold price drops this year have led to a marked increase in demand for gold as seen in very large increases in ETF holdings (See chart – Orange is Gold, Purple is absolute change in gold ETF holdings). The smart money in Asia, the West and globally continues to use price dips as an opportunity to allocate to gold.
Predictious is a Bitcoin prediction market where you can buy and sell shares representing outcomes of a specific event. Accurate predictions are rewarded with 0.01 Bitcoin for each share owned.
Yesterday Predictious has opened a new market on what amount the Special Edition 5oz MaxCoin Silver Cryptobullion project will raise. This StartJOIN concept was created after the success of the 1oz MaxCoin Silver Cryptobullion project which had a target of $5000 but actually raised a total of $111,699.
Predictious offers several binary contracts with different ranges: $10,000; $30,000; $40,000; $100,000.
By providing a financial incentive for users to predict correctly an event, prediction markets leverage the “wisdom of the crowds” to make more accurate predictions. They are often used academically and in the corporate world to predict future events, and they have often proven to be more accurate than various large and expensive surveys.
We discuss the one-two punch of cryptobullion. We also discuss the crowd coming together to fight fracking in Texas (for fear of the ever-increasing magnitude earthquakes) and Canadians delivering water for Detroit because ‘our water is their water.’ In the second half, Max interviews Tina Rothery – aka Tina Louise – about the ‘implied inevitability’ of fracking and how Centrica and Cuadrilla are ‘squatting’ in order to prevent anti-fracking activists from doing the same.