To illustrate this let’s imagine that we live in Germany in 1932. Hitler is about to rise to power and it is clear to many that he intends to establish socialist slavery. But unlike the real 1932, let’s assume Bitcoin is available and commonly used for anonymous gambling. Wealthy factory owners can be sure that Hitler will steal their stuff as soon as he can. In repsonse they buy an insurance policy. Many of them place a bet that Hitler will become Chancellor before the end of the year.
At first this would seem like a foolish bet. Everyone can tell that he will become Chancellor. But this bet creates an unexpected incentive. Anyone in a position to prevent Hitler becoming Chancellor could bet against these men and then take action to ensure the outcome — namely to ensure Hitler doesn’t become Chancellor.
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[ 3.3 ms ] story [ 10.3 ms ] threadGetting Hitler to throw the game.
To illustrate this let’s imagine that we live in Germany in 1932. Hitler is about to rise to power and it is clear to many that he intends to establish socialist slavery. But unlike the real 1932, let’s assume Bitcoin is available and commonly used for anonymous gambling. Wealthy factory owners can be sure that Hitler will steal their stuff as soon as he can. In repsonse they buy an insurance policy. Many of them place a bet that Hitler will become Chancellor before the end of the year. At first this would seem like a foolish bet. Everyone can tell that he will become Chancellor. But this bet creates an unexpected incentive. Anyone in a position to prevent Hitler becoming Chancellor could bet against these men and then take action to ensure the outcome — namely to ensure Hitler doesn’t become Chancellor.