Bitcoin Prediction Market

What is a prediction market? It's a market that allows you to make predictions on the outcome of hundreds of real-world events. Stock exchanges find the price of stocks, and futures markets find the price of commodities. Prediction markets find the probability of something happening - a predefined, uncertain future event. Will the financial markets be up today? Will a certain candidate win the next election? Who will win the Academy Awards? If you have an opinion on what will happen then you can make a prediction on Intrade. Predict correctly and you can win real money profits. An Intrade market - always YES or NO We need a platform where you make predictions by buying and selling shares on the outcome of real-world events. These events are always defined on Intrade as a YES/NO proposition. For example, here are a few of the markets currently available: The Dow Jones to close on or above 13,000 on 30 Dec 2012 Barack Obama to be re-elected President in 2012 The United States or Israel to bomb Iran before the end of 2013 This allows you take a clear position on each event - you can either predict the event will happen, or it won't happen. You then back up your prediction by buying or selling shares in the market. Each market is a YES/NO proposition - yes, the event will happen, or no, the event will not happen. If the event does happen, the market will settle at $10.00. If the event does not happen, the market will settle at $0.00. If you predict the event will happen then you BUY shares. If you predict the event will not happen then you SELL shares. If you buy shares you profit if the market value of the shares goes up. Your profit is maximised if the market settled at $10.00. If you sell shares you profit if the market value of the shares goes down. Your profit is maximised if the market settled at $0.00. The difference is this platform takes in bitcoin deposits. Bitcoins are used to buy and sell shares in the market. Users will have an address were they can have their bit coins sent to.