Crypto Academy / Season 3 / Week 8 - Homework Post for [@pelon53].
QUESTION 1
Create 5 questions that can be used in the predictive market. And explain what 2 of them consist of. Be creative and explain in detail.
Five Questions that can be used in the Predictive Market
- Will the Dominant Bitcoin with its current Bullish Trend hit the all time high value of $64800 before September 30th?
. YES: Vote cost: $0.7 NO: Vote cost: $0.3
- Will the Prices of Ethereum stay above $3000 till the end of August?
. YES: Vote cost: $0.35 NO: Vote cost: $0.65
- Will the Steem crypto currency be listed on the coinbase before December 20th?
. YES: Vote cost: $0.1 NO: Vote cost: $0.9
- Will the steem blockchain dollar be ranked among the first 300 cryptocurrencies on the coingecko platform in terms of market capitalization before November 25th?
. YES: Vote cost: $0.8 NO: Vote cost: $0.2
- Will the Cameroon national football team win its match against Malawi in the second round of the world cup qualifier on the 3rd of September 2021?
. YES: Vote cost: $0.25 NO: Vote cost: $0.75
Explanation of any two
- Will the Dominant Bitcoin with its current Bullish Trend hit the all time high value of $64800 before September 30th?
. YES: Vote cost: $0.7 NO: Vote cost: $0.3
- The current the use of indicators such as the ichimoku and the moving averages for golden and death crosses it is possible for it to reach its all time high
NO: Vote cost: $0.65
It is certain the current rise could just be a retracement to continue its precious bearish movement.
It is note that the last bull period of the dominant bitcoin began in some time mid 2020 after the covid 19 market panic crash. This bull period lasted a very long term of up to a time some where in April where it experienced an all time high of $64800. With this, the famous began getting some bearish period after the environmental concerns raised by Elon Musk in its mining. Bitcoin was seen to fall to a value of $28000 in less than a most and has accumulated at that level for a while until its recent bull period at the end of July with its current value of $49,000.
………………………….
- Will the Prices of Ethereum stay above $3000 till the end of August?
. YES: Vote
cost: $0.35
NO: Vote cost: $0.65
In fundamental analysis, the crypto analyst Zack Gussman in may 7th who insinuated the value of ethereum to surpass the value of $3400 and did pass the level has analysed it again to climb up to a value of $10000 this time around. The shift to proof of stake for block validation reduces carbon emission by 99.9% making etheruem a green technology Kasper explained.
QUESTION 2
Explore Polymarket, answer and explain the first 2 questions in the crypto category
Exploring the Polymarket
Logging into the polymarket website we see the landing page as below which we need to begin by signing up with our email. Verify the email.
After verify the email, we will be redirected to the original webpage where we then create an account using a user name.
Features of the polymarket
We have 5 main core features which are the Market, Portfolio, account, preferences and learn
Market
In the market feature, we various categories such as the art, business, chess coronavirus, crypto and many others which in my case I will be choosing the crypto category.
Portfolio
On the portfolio feature, we can see the various positions opened as well as liquidity. This could be sorted according to value, market, pool share, fees or resolving soonest.
Account
We have next is account which is displayed prior to deposit
Preferences
On the preferences section, we can see the email notifications such as newsletter, contest and promotions, polymarket updates and market updates. This is as shown in the screenshot below.
Learn
With the learn feature we will be re-directed to the docs.polymarket.com to learn more about the platform.
Explaining the first two questions:
The first two questions are;
- Will cardano support smart contransts on mainnet by October 1st 2021?
- Will the US have more than 200,000 new daily covid-19 cases on before October 1, 2021
For the first question; my answer will be No. I do not think the cardano will support smart contracts on the mainet this soonest as no plan of action has been launch yet concerning that.
For the second prediction; my answer will be a No for a value of $0.8. this is because I believe with the launch of the vaccines which are being administered against covid-19 will greatly reduce the rate of the virus.
QUESTION 3
Explain in detail a predictive market project, it cannot be augur, gnosis or those explained in class
I will be explaining the PlotX site.
PlotX
The PlotX is a site which can be used for cryptocurrency predictions and the predictions are also created automatically in an interval of 4 hours, daily or weekly.
Exploring the plotX platform.
On launching the site, we get to create an account or link an wallet. I will be creating an account with my email and verifying as below.
Inside of plotX
Exploring the inside of plotX, we see that the landing page is as shown below. It shows us a sample of how the market works and how you can predict in just 3 steps as shown in the screenshots below.
We can take an example of a prediction which is asking
- Will the btc to usd value go up or down. The current value is at $48850 and has a participation time of 4days 17 hours for prediction.
- For going up we see a total stake of $181 from 30 leading participants and $88 for its staying flat with 4 participants and also 3 participants for it going down with a total value of $87 stake
QUESTION 4
For you, what will happen to predictive markets with blockchain technology? Who will benefit form them?
With the present growth in the blockchain technology especially in terms of users, I see a positive in the predictive market as well. It is true that so many are not yet involved in the predictive marketsolely because of information issues, but I believe once it has gain it publicity the population will move toward the predictive market especially those involve in the betting.
It is also encouraging because the predictive market offers opportunities such as predicting even on the football and nature sector which so many people are into. In this, we can say the predictive market is more advantageous as it encompasses all the various sectors of life including the famous cryptocurrencies which we are into.
Now going to the part of the beneficiaries, I see the beneficiaries to be the enthusiasts as they have the opportunity to do proper planning concerning a particular predicting before staking on it.
Conclusion
With all this we have seen how we could guarantee some profits for ourselves simply by doing analysis which could be fundamental or technical and applying on the predictive market. I really see that as an advancement in the technology of thee blockchain and hoping to see more in the future.