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Addiction Markets

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383 points toomuchtodo | 3 comments | 31 Oct 25 17:42 UTC | HN request time: 0.673s | source
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sakopov ◴[31 Oct 25 22:48 UTC] No.45777555[source]▶
> Coinbase CEO Brian Armstrong rattled off crypto buzzwords at the end of the Q3 call, resolving $84K in prediction market bets to "yes."

https://x.com/Cointelegraph/status/1984161085780263322

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alphazard ◴[31 Oct 25 23:02 UTC] No.45777671[source]▶
Polymarket is not even close to the same thing. Sports betting allows a blessed few corporations to run rigged markets and intentionally prevent price discovery by keeping the smart money out.

Polymarket uses open orderbooks where you match against someone else who wants the other side of the trade just like the stock market. Prices are set by the market, as they should be.

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array_key_first ◴[31 Oct 25 23:34 UTC] No.45777874[source]▶
Polymarket is like the stock market, that is to say, it's gambling.

Nobody should be day trading unless it's their job. Yes, I have seen many guys get sucked into it.

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Karrot_Kream ◴[31 Oct 25 23:49 UTC] No.45777964[source]▶
And people shouldn't be constantly buying mechanical keyboards and keycaps for farming social media karma and affirming their identity when they probably only have a few devices that need keyboards anyway. There's a whole rabbit hole of vice out there if you're interested in looking.

While we're at it, I propose a Board of Ethically Allowed Activities that make sure we can only do the good and moral things.

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1. array_key_first ◴[01 Nov 25 00:04 UTC] No.45778059[source]▶
I'm not saying that we should restrict it. I'm just saying it's not productive or healthy.

The difference is that hobbies are fun. Gambling is fun in the same way smoking is fun. It's not, but you have to do it. I know, because I was a smoker.

Also, on the topic of morality: morality is stupid. Gambling isn't immoral. Or maybe it is, I don't care. Gambling is self destructive. It can pretty much exclusively only make your life worse.

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2. nbngeorcjhe ◴[01 Nov 25 00:36 UTC] No.45778233[source]▶
> morality is stupid

least contrarian HN user

> only make your life worse

Unless you have a family with whom your finances are intermingled. This is like saying alcoholism only makes your own life worse, because obviously your actions have no effect on the people around you, right?

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3. bc569a80a344f9c ◴[01 Nov 25 01:11 UTC] No.45778428[source]▶
You parsed the person you’re responding to wrong. They didn’t say that gambling only affects your life and not anyone else’s, they said it has an exclusively negative outcome and not a positive one.