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Vitalik: The probability given by the prediction market is usually more accurate than the judgment formed by media influence
BlockBeats News, August 27th, Ethereum founder Vitalik Buterin, in response to recent discussions about prediction markets, said, "In coin voting, if you vote incorrectly, there will be no penalty, the only risk is that you may happen to push the result to that point of extremely small probability at the edge. In prediction markets, if you make the wrong judgment, you will lose money, and if you bet big, you will lose a lot of money."
Personally, I feel that the probabilities given by prediction markets are usually more accurate than judgments I form under the influence of (professional or social) media atmosphere. They actually help me stay rational, not overestimate the importance of things (but also help me realize their importance when something truly important happens)."
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