[extropy-chat] Noisy future day (was: silent night)

[Brett Paatsch]

Robin Hanson wrote:

> On 12/22/2004, Brett Paatsch wrote:
>>>Well things are looking the best they've looked in the fifteen years
>>>I've been at this.  The CFTC is considering making them more legal - I 
>>>was just  at conference on this.  And a few dozen companies are 
>>>experimenting with internal markets.
>>
>>As a person that wants to use the service "more" legal doesn't really
>>help me.  How much more is more on the sliding scale of legal :-)
> 
> It is already legal in the sense that if you spent a million dollars
> going through the usual hoops to lobby the CFTC you could do it.

How do you know the figure would be $1million instead of say 
$500,000?

> Problem is, the sort of markets can't generate enough revenue to
> pay such a high cost.  So the idea is to bring down the cost.  The
> lower the cost, the more chances a market can pay that cost.  And
> so the "more" legal such betting becomes.

Or alternatively you plan to pitch to players that stake more on the
bets. 

How do you know the market can't pay the costs? Do you know
what your target market is?

Brett Paatsch