Quote from: mathgal23 on February 01, 2016, 06:23:54 AM

Quote from: HeliKopterBen on January 29, 2016, 11:27:16 PM

Quote from: hcf27 on January 29, 2016, 06:03:22 PM

Ok, I am trying to figure this out, so who will provide the feed on december 2016?... what happens if the person doesnt enter the result or enters a wrong feed?

Right now settlement is dependent upon the creator of the asset, so in that respect settlement is centralized. Eventually, price feeds similar to smartcoin price feeds will allow for a completely decentralized solution.

I do not think this is safe to use until settlement becomes decentralized. Augur and Truthcoin are developing far better systems.

Seems that the market creator is testing this approach out. SPORTS.SBLAFC has been set to a committee owned account, and the newest market. BTSPREDICT is a committee fed account.

In bitshares the committee is a multi sig account whose active permissions are voted on by all stake holders. You could say that these two markets are now secured by the network.

When it is time to close out the market a committee proposal will be made. It will require 51% of the active authority of the committee account to close the market. Even after 51% is achieved there is a minimum 1 hour review period during which misbehaving committee members can be voted out.

Edit. SPFIVE and WTICRUDE are also now updated to committee fed assets.