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1. What is this site?
2. How does all this work?
3. How do I claim my Moolers?
4. What is arbitration/closing?
5. What do I get when a prediction is judged?
6. Does this site support "selling short?"
7. I submitted a prediction, but I can't find it now!
8. I have 10,000 Moolers, but I can't buy new shares! Why?
9. Who are behind this site?
10. Who is Turing Bluespan?
11. No, seriously, who are you guys?
12. Why is it an invite only system?
13. What powers PublicGyan?
14. Credits
1. What is this site?
This site is a virtual prediction market. It uses the power of market forces to aggregate information from different individuals to create a more accurate prediction of events. From the user's perspective, this site functions as a game in which individuals can test their savvy for prediction against other users.
2. How does all this work?
When you join the site you claim some amount of Moolers. Think of these as currency with which you can order shares in predictions. Once you have bought shares, you can then sell them to another user for Moolers, or wait until the prediction is arbitrated, at which point you receive the arbitration value for the shares.
3. How do I claim my Moolers?
When you sign up, you are given 2000 Moolers. You most probably will be able to claim more. To do that:
- Go to Setting->Your Profile
- Note the "Homepage tag"
- Please copy and paste this within the <head> </head> section of your website/blog template. For example, take a look at the source code of www.srijith.net
- Once your page has the meta tag, in your profile setting, enter your homepage URL, check "Set Homepage tag" and press "Save"
- This will update your profile and calculate the new Moolers for you.
4. What is arbitration/closing?
When either a prediction reaches its assigned arbitration date or the prediction comes to pass, an arbitrator will "close" the prediction. This stops all trade on the prediction and cancels any outstanding orders. The administrator or moderator will then determine the final value of the prediction based on the conditions listed in the prediction description. Users who own shares of the prediction then receive an amount of Moolers based on the arbitrated value of the prediction.
5. What do I get when a prediction is judged?
Usually the prediction is set a final value of 100 or 0, i.e the prediction came true or did not. We will not go into details of other possibility. If say a prediction was judged as true and you do not have any shares on that prediction, you don't earn any Moolers (duh). If you do hold any shares, you earn
Earning= final_price * number_of_shares_held = 100 * number_of_shares_held
So your profit will be
Profit = (100-value_of_share_when_you_bought_it) * number_of_shares_held!
6. Does this site support "selling short?"
Although support for short selling is planned for a future version of this software, it is not currently supported.
7. I submitted a prediction, but I can't find it now!
Once a user submits a prediction, someone among the gang of screaming chimps (aka Moderators) will go through the prediction and approve or reject it. Once approved by a chimp, the prediction is available for trading.
8. I have 10,000 Moolers, but I can't buy new shares! Why?
Most probably you are confusing between the total Moolers you own that can be used for trading and yout total asset. Log into your account and go to Portfolio->Your Account. There you will see the breakdown of your worth. 'Moolers in Account' is the actual amount you have that can be used for buying shares.
9. Who are behind this site?
"Are"???. There is no "are". There is only "I". I am the system, the be-all-and-end-all, Turing Bluespan!
10. Who is Turing Bluespan?
Hush.. The all powerful system's name can only be whispered! On a more serious note, Turing Bluespan is an attempt at geek humor on the name 'Alan Greenspan'.
11. No, seriously, who are you guys?
PublicGyan started off when Nitin got inspired by James Surowiecki's book - The Wisdom of Crowds. He then roped in Srijith, who is essentially the coder-fu around here.
12. Why is it an invite only system?
We do realise that prediction markets derive its accurancy from the number of users. However due to the meagre server resources available to us, for now we would like to keep this system invite-only. As soon as we feel we can cope with more users, we will throw the registration open. Even now, if you are interested in getting an invite check around and you will surely find someone who can invite you in. If you can't find anyone, drop Bluespan a note and he will see what he can do.
13. What powers PublicGyan?
The site is powered by a moderately modified version of FreeMarket Project. HTML template is a modified version of Dittoditto.
14. Credits
A lot of people chipped in, knowingly or unknowingly! Jesse Gillespie, the man behind FreeMarket, Ken Kittliz from IdeoSphere and Divya Manian.
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