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Cuneiformist
The Imperfectionist
USA
4955 Posts |
 Posted - 05/03/2006 : 10:55:26
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I don't know if anyone's seen this site-- the Foresight Exchange-- but it's pretty fun and I've dabbled for awhile now.
The concept is simple-- when you register, you get an "account" with which to buy and sell shares in a claim about a future event. For instance, this claim holds that the average national fuel price for a gallon of gas in the US will reach $3.00 before June 30 of this year. If you agree, you can "buy" shares in it. If you disagree, you can buy shares of the opposite. If you own the correct (yes/no) shares when the even happens, your shares are cashed in at $100 per share. If not, they become worthless. And of course, you can always buy and sell before then. (I, for one, have 160 shares of gas reaching $3.00, bought for between 85 and 87 a share.)
There's more to it, but I thought I'd pass this on for anyone interested in playing.
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