Future ‘Shock’? Phemex Probably Won’t Be Even Mildly Surprised

Exchange offers a 1,000 BTC gamble, claiming to know the value of bitcoin at the end of the following month, and asks you to accept the wager.

A significant wager is being made in honor of Bitcoin's 15th birthday by Phemex, a controlled exchange that is working to become somewhat decentralized. If the bellwether token is valued $50,000 or more on October 31st, the firm will provide 1,000 BTC to Phemex Soul Pass holders. Using simple math, that comes to $50 million. The dollar worth of BTC isn't expected to double in the near future, but would you wager that much that it won't?

Make a calculated bet as to where BTC's price will be on October 31—the day Satoshi's whitepaper was published for the fifteenth time—and you're done. Phemex will keep the 1,000 BTC Challenge event available until September 28th if you are confident in your capacity to precisely gauge market conditions and have a talent for prediction.

Phemex is still giving away 1 BTC even if BTC continues in its more probable trading range of $25,000 to $30,000, where it has been, with some room for error, since March. For various price ranges, there are various payments based on a probability curve. Any voter can cast their ballot and be the winner because no one is certain of the final price. You'll have more chances to win if your forecast comes true the more "outlandish" it is!

Token Gestures:

It makes sense to question, "Is there a catch?" when the stakes are so great. Okay, no. To participate in the event, Phemex merely requires players to mint their Phemex Soul Pass (PSP). It's easy to get a PSP, and once you have one, you can use it for a lot more than just the 1,000 BTC event.

Phemex Soul Pass, which was previously discussed in this article, is a non-transferable authentication token that grants access to the brand-new, decentralized Phemex Web 3.0 ecosystem and enables users to own a portion of Phemex.

A PSP entitles the holder to receive airdrops of Phemex's native PT utility token, which is pre-mining and about to launch, in addition to allowing access to the 1,000 BTC event. The Phemex Web 3.0 whitepaper states that the pre-mined coin, xPT, will be swapped one-for-one for PT once the token officially launches. The fourth quarter is anticipated to see the introduction of that platform token.