Will I launch my digital futarchy before August 31st, 2022?
Resolved as
41%

The question resolves to "YES" if my digital futarchy is accessible on the public Internet at any point before August 31st, 2022.

Related questions:
https://manifold.markets/cos/what-will-i-name-my-nomic-futarchy
https://manifold.markets/cos/how-many-unique-users-will-my-digit
https://manifold.markets/cos/how-many-unique-users-will-my-digit-c2766ff2c27b

Close date updated to 2022-08-31 11:59 pm

🏅 Top traders

#NameTotal profit
1Ṁ592
2Ṁ361
3Ṁ278
4Ṁ81
5Ṁ56
Sort by:
Charlie avatar
Charliepredicted NO at 20%

Polling bettors is tricky because they've all got skin in the game. (Myself included). If you were to conduct a thought experiment whereby you go back in time to the past self who created this market, and show that person the final result, how would they say you should resolve it?

kazoo avatar
Trent Yazzopredicted NO at 20%

Nope

cos avatar
cospredicted YES at 20%

Alright, everyone, that's it! Can someone confirm whether the following URL resolves on their end?

https://nomic.garden

If it does, what are your thoughts? Did I meet the requirements I laid out in my response to @JoyVoid?

See: https://manifold.markets/cos/will-i-launch-my-digital-futarchy-b#0qmzrID2UYk6FN8Jb4xm

horse avatar
horsepredicted NO at 20%

@cos The page does do those things! Although it's not clear that it's actually representing the treasury and isn't just a placeholder.

Yev avatar
Yevbought Ṁ50 of NO

@cos The market should still resolve NO because you posted it at 0:15 on Sep 1.

cos avatar
cospredicted YES at 20%

@horse I am afraid to admit that the treasury is truly, woefully empty. :(

cos avatar
cospredicted YES at 20%

@Yev Ah, but the site was up well before then! I stopped all development at midnight (I even had a little "git push" script running on a timer). Feel free to audit the timestamps yourself: https://github.com/nomicgarden/nomic

Yev avatar
Yevpredicted NO at 20%

@cos Oh, you sneaky ba...d person! I was checking your personal github, I didn't realize you made a separate account for it.

Yev avatar
Yevpredicted NO at 20%

@cos I agree it's a YES. I should have read all of your comments before betting :(

cos avatar
cospredicted YES at 20%

@Yev Haha, feel free to call me a bastard; smack talk makes the game more fun! That said, I apologize if I failed to be sufficiently transparent. You're right that I probably should have shared a link to the repository ahead of time, and I should have updated the top-level description after I hammered out the details with @JoyVoid. I'll make sure to do both in my next market!

cos avatar
cospredicted YES at 20%

@Yev @horse Thank you both for your feedback! Sounds like we've got a consensus of three leaning towards a "YES" resolution. Well, really two, given the incentives (I will go bankrupt if this resolves "NO"). I'm going to leave this unresolved for a while longer to give everyone else some more time to contribute their opinions.

Gurkenglas avatar
Gurkenglaspredicted NO at 20%

@cos

Anyone who can tell a server to serve an HTML page could have thrown this together in 5 minutes flat! It's a YES.

MartinRandall avatar
Martin Randallpredicted NO at 20%

@cos Definitely NO by market description. By comment thread by joy, I think it's still no, as I don't know that it conveys the "current" state of the treasury, and I'm also not clear that it conveys the state of the game.

That said, congratulations on doing something, and best wishes on part two.

MichaelWheatley avatar
Michael Wheatleypredicted NO at 20%

@cos My two cents here is that, coming from a place of not knowing what a digital futarchy is, when I visit that site I still don't know what a digital futarchy is or if there's one in place on that site or what I'm supposed to click on to participate.

Disclaimer: I own a bunch of NO (at the time I was on day 3 of a coding project I told my wife would only tie me up for a hour and a half. Still in progress, of course)

MichaelWheatley avatar
Michael Wheatleypredicted NO at 20%

@MichaelWheatley I thought futarchies were when decisions were made based on conditional prediction market outcomes, but the linked markets on the site are pure predictions: the only conditional market doesn't have a mirrored pair (?)

Yev avatar
Yevpredicted NO at 20%

@cos I will not call you a bastard because the marital status of your parents has no relation to your moral character. You'd be dick either way :P

Yev avatar
Yevpredicted NO at 20%

@MichaelWheatley It didn't show up because the mirrored market wasn't in the right group. I've added it, but it still doesn't show up on the website. That's sus.

Yev avatar
Yevpredicted NO at 20%

That's because the market links are hardcoded in https://github.com/nomicgarden/nomic/blob/main/src/routes/index.svelte. And the treasury status is hardcoded in https://github.com/nomicgarden/nomic/blob/main/src/routes/treasury.svelte. I'm back to NO.

cos avatar
cospredicted YES at 20%

@Gurkenglas Yeah, you're not wrong! I appreciate the open textualism, though. On that note, I'm not sure whether we welcome Metaculus in this house, but I think this would resolve "YES" over there. In other words, I believe this market resolves "YES" by the letter of the law and "NO" only in spirit.

What does Manifold prefer? Are we originalists or textualists?

How should Nomic operate? (I'm leaning towards textualism.)

---

Running total: 4 YES / 0 NO

MartinRandall avatar
Martin Randallpredicted NO at 20%

@cos I count two NO?

cos avatar
cospredicted YES at 20%

@MartinRandall Can you expand on the "NO by market description" so I might be convinced? Aside from that, good points on whether it literally conveys the "current" state of the treasury and the general state of the game!

As of right now, I think it does! And as of midnight last night, I believe it did so as well. The treasury is empty, and those markets are all that exist and all that are driving the behavior of the digital futarchy. In the final hour, I did worry about whether someone would donate money to Nomic or open additional markets before I had a chance to update the site.

Note the condition, "accessible on the public Internet at any point before August 31st, 2022" in the description. There's no mention of dynamic updates. This is merely supposed to be a web-based frontend for an abstract organization. Yes, I intend for it to become more complex, but as of right now, I believe it serves its function. I don't think there's much room for argument there, but please do correct me if you think I'm wrong!

---

Running references:
> The question resolves to "YES" if my digital futarchy is accessible on the public Internet at any point before August 31st, 2022.
> At the very least, users must be able to view the current balance of the treasury as well as markets related to the game/organization. Bugs are ok so long as they do not interfere with the core functionality of the website.

---

Running totals: 4 YES / 1 NO

cos avatar
cospredicted YES at 20%

@MichaelWheatley Thanks for responding! Should I put you down as a YES or a NO?

> My two cents here is that, coming from a place of not knowing what a digital futarchy is, when I visit that site I still don't know what a digital futarchy is or if there's one in place on that site or what I'm supposed to click on to participate.

This is very good feedback, thank you! However, I believe I'd be going back on some of the things I had said about the resolution criteria prior to market close if I were to consider this in my resolution. See the references below.

> I thought futarchies were when decisions were made based on conditional prediction market outcomes, but the linked markets on the site are pure predictions: the only conditional market doesn't have a mirrored pair (?)

Indeed! Although, I do intend to stretch the definition a bit. Regardless, Nomic does, in fact, meet your definition as that market does have a mirror (see below). It's been resolved since, by the book, futarchies ought to return money to consequentially irrelevant bettors when decisions are made.
---

---
> The question resolves to "YES" if my digital futarchy is accessible on the public Internet at any point before August 31st, 2022.
> At the very least, users must be able to view the current balance of the treasury as well as markets related to the game/organization. Bugs are ok so long as they do not interfere with the core functionality of the website.
---
Running totals: 4 YES / 1 NO

cos avatar
cospredicted YES at 20%

@MichaelWheatley P.S. Good luck on your coding project! What's it about? Can I see it? 🧐

cos avatar
cospredicted YES at 20%

@Yev Welcome back to the discussion!

> It didn't show up because the mirrored market wasn't in the right group. I've added it, but it still doesn't show up on the website. That's sus.

Hmm? All relevant markets are available in both #Nomic and #Nomic Garden. I made sure of this awhile ago. Let me know if you see fewer than 5 markets in either of those when filtering by "All" and sorting by "Newest" so I can submit a bug report.

> That's because the market links are hardcoded [...] And the treasury status is hardcoded [...] I'm back to NO.

Indeed! Everything is hardcoded right now. However, I never stated that the website must be dynamic (although I intend it to be dynamic at some point). In fact, being a game traditionally played over email, Nomic is almost never managed with any sort of dynamic frontend. I am in no way violating either the letter or the spirit of the game by manually pushing HTML to a webpage. Nay, I'm carrying on the tradition!

Alas, I shall change your vote from YES to NO regardless. Let me know if you change your mind again.
---
Running totals: 3 YES / 2 NO

cos avatar
cospredicted YES at 20%

@MartinRandall Sorry about the slow replies! I'm multitasking.

Let me know if you change your mind, by the way.
---
Running totals: 3 YES / 2 NO

MichaelWheatley avatar
Michael Wheatleypredicted NO at 20%

@cos I'm abstaining due to my financial stake in the resolution. Which I don't always do, but here the answer is borderline enough that I can't trust myself not to be biased.

I was going off the title and description so I didn't see the comments with resolution clarification.

philh avatar
Phil Hazeldenpredicted NO at 20%

To my read, "users must be able to view the current balance of the treasury" is not satisfied by a static website. It seems to me that "current" most naturally means "as of the time the user is viewing" (with some allowance for things needing time to propagate). It could be "as of some fixed time" (when you write the words, or publish them, or when the market closes) but I think those are sufficiently unnatural meanings that they'd need clarification if you intended them. And I think "as of the time I most recently updated the website" is even less natural.

This kinda feels like... suppose you have a calendar website, and you say "the user must be able to see the current date". If it's just a static page, you could say "well at the time the market closed, it showed the current date, and in fact it still shows the current date". But I would consider that cheating.

(Disclosure, I have M$90 at stake here. I think I don't care enough for that to influence my opinion.)

cos avatar
cospredicted YES at 20%

@MichaelWheatley Ah, I'll mark you down as "N/A" then.
---

Running totals: 3 YES / 2 NO / 1 N/A

cos avatar
cospredicted YES at 20%

@PhilipHazelden I appreciate your discussion of the "natural meaning" of words! I wholeheartedly agree with the interpretation laid out in your first paragraph. However, I believe the analogy to a calendar website in your second paragraph is way off the mark.

At present, Nomic is organized as a sole proprietorship with its own little bank account (i.e., a disused checking/savings account at my backup bank) currently sitting at $0.00 (ignoring the minimum amount I maintain to keep it open). Since I posted this question, that amount hasn't changed a single cent. It is the current balance, and it's been the current balance for a long while now. Unlike the information provided by a calendar website, it is obvious that this information isn't updating frequently enough to warrant some sort of reverse-engineered dynamic API integration with my woefully antiquated credit union.

At present, hosting this treasury information is more like hosting a blog that I update whenever I experience significant life events. Unfortunately, those are fairly rare at present.

Given all of the above, how shall I mark you down?

(NB: I intend to resolve this relatively soon.)
---

Running totals: 3 YES / 2 NO / 1 N/A

Gurkenglas avatar
Gurkenglaspredicted NO at 20%

@cos If you're going to resolve it by vote, note the option to go with 60% if it remains 3 YES to 2 NO :P

MartinRandall avatar
Martin Randallpredicted NO at 20%

@cos I approval vote for N/A, NO, and all answers in the 1-40% range.
(do we need a futarchy market on what voting system Nomic Garden should use to resolve disputes?)

JoyVoid avatar
joy_void_joypredicted NO at 20%

I'll vote N/A.

That said, I want to say NO, because it is not really something you can show to other without context, which to me was the question implied by the question. I'm not able to use it to really see how it works for me

Congrats on making it though, and best of luck for the rest :)

philh avatar
Phil Hazeldenpredicted NO at 20%

@cos

At present, Nomic is organized as a sole proprietorship with its own little bank account (i.e., a disused checking/savings account at my backup bank) currently sitting at $0.00 (ignoring the minimum amount I maintain to keep it open). Since I posted this question, that amount hasn't changed a single cent. It is the current balance, and it's been the current balance for a long while now. Unlike the information provided by a calendar website, it is obvious that this information isn't updating frequently enough to warrant some sort of reverse-engineered dynamic API integration with my woefully antiquated credit union.

So, a relevant thing here is that I didn't know this was actually a bank balance. I guess my opinion here is that "view the current balance" isn't implemented and you don't plan to implement it; what you actually have and want sounds like "view the current balance as-of the most recent manual update". But I agree that if I knew it was a bank balance that would only update rarely, your wording isn't that unnatural for it.

But also, I think my complaint about "current" also applies to the list of markets, and your argument here doesn't apply to that. Your wording was "users must be able to view the current balance of the treasury as well as markets related to the game/organization", which leaves open that "current" might only have applied to "balance of the treasury" and not to the markets, so I didn't lead with that one.

But like, my read of your comments was that a YES resolution would need two features to be implemented. In fact neither of them is implemented. You can argue for each of them that it wasn't technically needed. But I think to do so, you need a kind-of-weird reading for one ("current is okay to be a manual update in this context") and a different kind-of-weird reading for the other ("it doesn't technically say current markets").

At any rate I think I wouldn't have bet if I'd expected that you'd resolve a simple static website as YES.

Hm, okay. I still think I don't care much about M$90, but I do think I have some emotional stake. I don't claim to be unbiased. I don't know how I feel about getting a vote. But if I get a vote, I vote NO.

MichaelWheatley avatar
Michael Wheatleypredicted NO at 20%

My take on the "current balance" and list of markets question is that although generally "current" can often just mean something is being updated reasonably often, in the context of a website, people are so used to websites tracking things with API calls that when they hear "current" they 100% take it to mean the content will be dynamically kept up to date..

hamnox avatar
Em of the Night ☑️predicted NO at 20%

@MichaelWheatley No. Your digital futarchy is not now accessible through the public internet, you did not build a digital futarchy at all. There is still none accessible.

At best there is now an analog futarchy run mostly in your own head, and a publicity webpage.

cos avatar
cospredicted YES at 20%

@Gurkenglas That's a good idea! I think that's what I'm going to do since I'm having so much trouble with this. I didn't intend this to be a "vote" per se, merely a means of quantifying feedback, but I must admit, I don't feel comfortable resolving either YES or NO given the all of the feedback, so your recommendation for resolving PROB sounds ideal.

@MartinRandall Approval voting is my preferred voting system! Well, really score, but that's a bit too complicated without proper tooling. You're absolutely right that this would make a good market for Nomic, by the way. You should make it! Anyway, I've marked you down as both N/A and NO.

@JoyVoid Thank you for the kind words! I'll mark you down as both N/A and NO following the approval system that @MartinRandall recommended.

@PhilipHazelden Thank you for the feedback! What I'm basically taking from all this is that I should have specified feature goals with as much precision as possible when I first posted the question. By leaving it as broad as I did, I risked misleading early bettors, and it wasn't until a week later that I provided additional specification in the comments. I've marked you down as a NO.

> At any rate I think I wouldn't have bet if I'd expected that you'd resolve a simple static website as YES.

This convinced me more than anything else. It seems many feel this way.

@hamnox Given that most of Nomic's actions have taken place and will continue to take place via Manifold, and Manifold is digital, I'd argue that Nomic is at least somewhat digital. Given the paucity of markets, though, yeah, it's more in my head than it is on the web.

Ideally, in the far future, Nomic will operate independently of where its markets manifest while curating all of that information in one place (i.e., nomic.garden). For now, Nomic exists almost exclusively on Manifold.
---
Final totals: 3 YES / 3 N/A / 5 NO
---
Resolution: ((3 × 1) + (3 × 0.5) + (5 × 0))/(3 + 3 + 5) ≈ 41%

cos avatar
cosbought Ṁ700 of YES

Go go go. Being drunk really helps with the perfectionism. And the fear.

cos avatar
cospredicted YES at 43%

Things are imperfect, we need to try and make them as perfect as can be while keeping the wheels churning, that’s engineering 101.

Found the above quote in this article I was reading earlier today: https://www.epistem.ink/p/any-utilitarianism-makes-sense-as

Trying to keep it in mind while I work. (RE: @JoyVoid's concerns about perfectionism)

cos avatar
cospredicted YES at 43%

Threw Extraordinary Attorney Woo on in the background while I try to get this MVP out the door. Two beers deep, and I'm crying.

JoyVoid avatar
joy_void_joybought Ṁ100 of NO

I'm wondering what makes @Gurkenglas so sure this will work, though they probably want to keep any inside/insight information they might have :3

cos avatar
cospredicted YES at 43%

@JoyVoid They bought a lot of "NO" shares above that price, so I believe they're mostly just realizing profits with that limit order.

Gurkenglas avatar
Gurkenglaspredicted NO at 43%

@JoyVoid I'll tell you if you fill my order!

JoyVoid avatar
joy_void_joypredicted NO at 43%

@Gurkenglas I don't think betting against someone who claims having insider knowledge makes sense :D ? Plus I don't have M$ 700 to lose just know :P

JoyVoid avatar
joy_void_joypredicted NO at 43%

@JoyVoid (I did fill M$70 of it though, maybe we can make this a crowdfunding effort :D )

Gurkenglas avatar
Gurkenglaspredicted NO at 55%

@JoyVoid I'll take payment in your other positions >:).

JoyVoid avatar
joy_void_joypredicted NO at 55%

@Gurkenglas I definitely feel more certain that an AI will succeed at the 2025 IMO than Cosmo will fail. I should balance out the rate interest, but now that loans have been implemented, I do not think this would make sense for me to trade this way

Gurkenglas avatar
Gurkenglaspredicted NO at 55%

@JoyVoid Then why aren't you buying that one up higher? O_o

JoyVoid avatar
joy_void_joypredicted NO at 55%

@Gurkenglas It is about 12% of my investment right now, and I have to diversify. If it comes back to 20% chance, I will buy more shares I think

Gurkenglas avatar
Gurkenglaspredicted NO at 55%

@JoyVoid In the absence of fees (squee!) or strange incentives, surely if the price must move to 20% in order for you to buy, the current price of 46% should cause you to sell?

JoyVoid avatar
joy_void_joypredicted NO at 55%

@Gurkenglas Not really, I just expect the variance on this question to be high and to be able to take advantage of this volatility

Gurkenglas avatar
Gurkenglaspredicted NO at 55%

@JoyVoid Hmm. I have acted similarly. This set of incentives seems bad for accuracy. I hope we can find a way to incentivize people to state their real %s...

cos avatar
cosbought Ṁ365 of YES

I'm actually quite a bit further behind on this than I expected to be at this point in the month, so I'm betting more on YES to increase the likelihood that I feel obligated to pull an all-nighter sprint before the 31st.

cos avatar
cospredicted YES at 69% *points to order book* Force me to do this.
cos avatar
cospredicted YES at 72% I'm willing to be fully transparent about this, by the way. Feel free to ask me questions about the status of the project. Current status: Nothing exists yet. Domains have been purchased. Lots of code has been written and deleted (learning Svelte and serverless architecture).
JoyVoid avatar
joy_void_joypredicted NO at 72% @cos I guess the biggest question for me is: how finish would the project have to be for you to feel comfortable launching it? Can you immagine lauching with something that still has bugs, is rough around the edges, and that you have to do some manual patching for instance
cos avatar
cospredicted YES at 72% @JoyVoid The project website must be accessible over the internet at https://nomic.garden and convey information about the state of the game/organization. At the very least, users must be able to view the current balance of the treasury as well as markets related to the game/organization. Bugs are ok so long as they do not interfere with the core functionality of the website.
JoyVoid avatar
joy_void_joypredicted NO at 72% @cos I guess I was more asking about how many corners you personally would feel comfortable cutting, rather than how the market will resolve. To me, perfectionism and lots of nitpicking will be your biggest obstacle to this deadline
cos avatar
cospredicted YES at 72% @JoyVoid 🥲
JoyVoid avatar
joy_void_joypredicted NO at 70%

How's it going so far :) ?

cos avatar
cospredicted YES at 70%
cos avatar
cospredicted YES at 20%

@JoyVoid This ended up being so utterly and painfully true. My anxiety around sharing an imperfect product got so bad that I spent the last few weeks in a state of near-total procrastination. What's truly crazy is that at one point (over a month ago), I had something that looked wayyy better than what I ultimately managed to publish, but my only record of it is a single line of "rm -rf nomic" somewhere in my shell history.

On the bright side, I've never been happier with my Vim config! I should probably get drunk again and go make a post about it on /r/unixporn

Charlie avatar
Charliepredicted NO at 20%

@cos “On the bright side, I've never been happier with my Vim config!”

Relatable. 🙃

cos avatar
cospredicted YES at 20%

@Charlie On the brighter side, now that I've published something, I'm feeling much better about sharing my unfinished and imperfect work more generally. I don't know why I got so serious about this with myself. Somehow, this task being untethered from my career and yet still accountable to other people made it far more stressful than anything else I had going on? Well, that, and it's something that deeply aligns with my interests, and I want to be proud of it.

cos avatar
cosbought Ṁ100 of YESAdding some more liquidity. Nothing material to report other than I'm now officially experimenting with using Manifold as the backbone.
Gurkenglas avatar
Gurkenglasbought Ṁ50 of NO@cos You didn't add more liquidity, you bet on YES. Liquidity is how much you can bet one one side before the price gets worse.
cos avatar
cospredicted YES at 51% @Gurkenglas I figured I could be pretty loose with the term given that this is a commitment market, and the purpose is to correct for my overconfidence. I don't see why people would want to buy anything other than "NO" unless it turns out that, contrary to base rates, I'm actually underconfident for some reason. To be clear, buying "YES" increased the profitability of buying "NO" for other participants, correct? And buying M$100 of "YES" benefits "NO" buyers more than subsidizing the market with an additional M$100? Or am I mistaken?
cos avatar
cosbought Ṁ100 of YESOctupling down on the opportunity provided by Gurkenglas.
JoyVoid avatar
joy_void_joybought Ṁ20 of NOBetting to incentivize you
NuñoSempere avatar
Nuño Semperebought Ṁ10 of YES@JoyVoid The problem with this is that you also incentivize me to move the market to a more accurate probability
NuñoSempere avatar
Nuño Semperebought Ṁ5 of NOBetting $5 out of principle on account of the word akrasia being mentioned here: https://twitter.com/cosmojg/status/1549927067055460352.
NuñoSempere avatar
Nuño Semperepredicted NO at 59% Mmmh, for futarchy you need conditional prediction markets, which are tricky. But you could piggyback off Manifold and ask them to implement the feature, and in the meantime you could use normal markets and resolve to N/A for the conditional not taken?
cos avatar
cospredicted YES at 59% @NuñoSempere Bingo. If I can't polish up my implementation in time, I'll embed Manifold Markets questions following the format you described. I likely won't attempt this last resort until the final days of August, though, so there's a somewhat high probability that I fumble the ball five yards from the end zone.
MartinRandall avatar
Martin Randallpredicted NO at 59% @cos why not start out embedding manifold markets? Gets you to mvp faster.
cos avatar
cospredicted YES at 54% @MartinRandall y'know, that's probably the right way to go
Charlie avatar
Charliepredicted NO at 49% @cos taking this to the extreme, what’s stopping you from launching the whole thing on Manifold?
cos avatar
cospredicted YES at 49% @Charlie I require a frontend where I can publish information about the organization and a backend where I can track the performance of individual users. With regard to markets specifically, I want more flexibility in terms of how markets are implemented, how they function mathematically, and how they are displayed. On top of all that, mana costs money.
Charlie avatar
Charliepredicted NO at 49% @cos All fair points! I'm rooting for you and will definitely sign up as soon as it's live!
MartinRandall avatar
Martin Randallpredicted NO at 49% @cos You might get some free mana from the Manifold devs if you build on top of their API. Or maybe a private instance. Worth asking.
Charlie avatar
Charliepredicted NO at 49% @MartinRandall Yeah considering @Austin's answer about expecting more futarchy on the platform here: https://manifold.markets/Austin/what-will-be-my-favorite-question-o#EN3X3dpovfDetabHPaSG it seems like it'd be a missed opportunity on Manifold's part, but I also understand @cos not wanting to force things to fit the Manifold mold.
Austin avatar
Austin @cos Insofar as "mana costs money" is ever a barrier, let me know and we're happy to bankroll accounts for experimenting with this kind of thing (see eg @MetaculusBot). Also open offer to anyone else who has a use for mana! Also: I have a (far-off) dream where people can implement customizable backends and frontends on top of mana, so people can create their own "smart contracts" inside the Manifold ecosystem! https://manifoldmarkets.notion.site/Smart-Contracts-on-Web2-ccc9b13eb5a748d69b4a6c5624812d60 But yeah don't hold your breath waiting on this
cos avatar
cospredicted YES at 49% @Austin @Charlie @MartinRandall Well, this decision just got a lot more interesting! Austin's vision for "Web2" smart contracts is truly beautiful. I'll have to think about all of this a lot more, but here are some nascent thoughts: I've been brainstorming creative ways to avoid dealing with KYC/AML laws and other financial regulations while meaningfully rewarding users. The best solution I've conjured up thus far involves running regular Vickrey auctions for gift cards, gold bars, and equivalents representing X% of cash profits using a currency that can meaningfully claim to have no cash value. (This would not be permanent. I merely want to avoid jumping through all of the hoops that Kalshi had to jump through and continues to jump through until the futarchy can afford to retain sufficient legal counsel.) One issue is that such a system will require tight integration with the currency, whether that's through direct control or sophisticated smart contracts. Another issue is that mana costs money and therefore has cash value. Moreover, I have a feeling that the futarchy would inevitably move to its own currency given that it optimizes for profit and having full control over a currency can be very profitable in and of itself (e.g., seignorage). All of that said, building on top of Manifold is definitely the fastest and easiest way to ship the MVP.
MartinRandall avatar
Martin Randallpredicted NO at 49% @cos my understanding is that things can cost money without having cash value, as long as they're not convertible back into cash, and mana would fall into that category.
cos avatar
cospredicted YES at 49% @MartinRandall > as long as they're not convertible back into cash Precisely! However, it's quite possible that I'm being overly cautious.
NuñoSempere avatar
Nuño Sempere I don't have that much info here. What do you want a digital futarchy for? how much progress have you already made? What is your best estimate of when you will be finished/how much time are you putting into this? Or, in other words, care to tell bettors a bit more?
cos avatar
cospredicted YES at 54% @NuñoSempere I'll answer each of your questions in separate replies.
cos avatar
cospredicted YES at 54% @NuñoSempere > What do you want a digital futarchy for? I hope that it will make the world a better place! Conditional markets will eventually follow the form, "If we implement this policy, we will generate $X in profit and Y QALYs by the end of this year." (I'm open to better phrasing and metrics, but I'd like to keep things as simple and legible as possible.) The primary means of "cashing out" will involve real-world rewards for users and contributions to effective charities. (Ideally, this will be in addition to regularly contributing some fixed proportion of profits to effective charities.) Most importantly, however, I hope to empirically demonstrate that futarchy is a good idea.
cos avatar
cospredicted YES at 54% @NuñoSempere > how much progress have you already made? Not much! I've dumped hundreds of hours of research into this over the past few years, but I've only recently started writing code. (Manifold's success inspired me to finally start moving.) I've thrown together a few janky mockups in Svelte, and I've run some markets on Manifold to guage interest, but that's about it. I work a full-time job, so the process is slow-going.
cos avatar
cospredicted YES at 54% @NuñoSempere > What is your best estimate of when you will be finished/how much time are you putting into this? I'll have the MVP done sometime in August, hopefully! I've been putting roughly 1-4 hours/day into writing words and code.
cos avatar
cospredicted YES at 54% @NuñoSempere > Or, in other words, care to tell bettors a bit more? Let me know if I missed anything! I'm also interested in fielding questions and feedback from other bettors.