Ideamarket aims to replace corporate media as the arbiter of public credibility.
To help achieve this, Ideamarket offers creators a new income stream based on attention-worthiness, without dependence on ads or paywalls.
An idea market that rewards people for popularizing ideas that "outcompete" alternatives and withstand the scrutiny of due diligence (and of history).
Learn more ⇒Ideamarket is a trustless, provably fair mechanism for measuring trust. It allows the public to establish trust without relying on a centralized third party to tell you who to trust.
Learn more ⇒By measuring credibility in dollars, Ideamarket makes fake news prohibitively expensive to spread. Private interests must pay out-of-pocket for a high rank, while competing against the buying power of entire populations
Learn more ⇒Truth has universal value and unites people, but is uncertain.
Trust is necessary and is a scarce natural resource.
Markets allocate scarce natural resources between parties with conflicting interests. A profit motive makes people more willing to be persuaded.
Ideamarket makes credibility expensive to fake. Trusted voices crowdsource a high rank "for free," as their audience buys upvotes out of self-interest and genuine belief. Private interests must pay out-of-pocket for a high rank, while competing against the buying power of entire populations. Over time, market cycles shake out both the deceivers, and the deceived.
Buy account tokens to vote on the attention-worthiness of that account, and sell to revoke your vote. Buying votes says "I think others will want to see this," just like a reddit upvote.
You can list anyone's account (even @elonmusk) as long as it's not already listed. If you add an account owned by someone else, interest will accrue to their wallet after a purchase, and they can claim it anytime.
In the same way that fiat currencies are valuable only because governments say they are, fiat narratives are true only because media corporations say they are.
Facts are a convention of language, a shorthand for “thing it’s safe to believe without further question.”
Creating “facts” requires deciding which information is important to include — or trusting a third party to make those decisions on your behalf.
Accepting deceptions in exchange for social status
Vilifying people with opposing viewpoints
Defending their social status
Performing due diligence on narratives
Listening charitably to opposing viewpoints
Defending their own innocent sense of reason
Performing due diligence on narratives
Listening charitably to opposing viewpoints
Defending their own innocent sense of reason
Lying about and omitting important issues (Epstein in 2016, UFOs, "Covid is just the flu")
Provoking outrage and division for the sake of engagement, and increasing polarity and extreme viewpoints.
Artificially limiting circulation to attract paying subscribers, and censoring or ignoring certain topics to appease their base.
Investigating and exploring important & relevant issues without bias
Encouraging understanding and empathy between different viewpoints, and trying to reach consensus/agreement and truth
Publishing their best content for free, or revealing all the relevant information.
Investigating and exploring important issues
Encouraging understanding and empathy between different viewpoints (the wider the demographic that trusts you, the larger your potential investor base and income)
Publishing their best content for free
Lying about and omitting important issues
Provoking outrage and division for the sake of engagement
Artificially limiting circulation to attract paying subscribers
The Product roadmap for Ideamarket.
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Dear Revolutionaries,
Edward Bernays, the nephew of Sigmund Freud and the father of modern propaganda, believed the opinions of the masses must be managed by elites. He believed a society can’t survive without being controlled.
But who are we if we don’t even try?
Asserting our freedom is a daunting thing, because then we are burdened with responsibility. We can no longer relax against the scaffolding of a culture built to coddle us, to manufacture risklessness. The United States of Adult Day Care is over.
It’s not with revolutionary zeal but with awe and humility that we must assume this new power. We are all burdened now.
We must acknowledge the comfort of living in a world rigged by elites — there’s a certain relief that whatever goes wrong, it wasn’t our fault, and we can’t do anything about it. We can play at manliness, shoot guns and shout slogans, without having to reflect on what the real battles are, and whether we’ve ever fought in them.
Those days are over.
Our only comfort now is our worthiness of the power we assume.
My personal experience is that Truth is real. It exists, it’s a force of nature. It harmonizes and blesses and loves, and God is behind it. When the burden of power weighs on you, I encourage you to simply seek honesty — and that often means seeking God. If you don’t know what it is that you don’t know, pray.
It doesn’t matter if you don’t believe — Truth itself will respond to your desire to know it.
Love you.
—Mike
Mike Elias, Founder
Ideamarket is not a prediction market. On a prediction market:
Winners and losers are decided by specific events
The market closes at a certain momentAn oracle reports what’s “true”
Ideamarket is more like a commodity market:
Winners and losers are decided by market cycles
The market never closes — it’s perpetual
There’s no oracle or “source of truth." Instead, the market aggregates its participants’ subjective judgments from moment to moment, informed by freely chosen set of criteria, and the hindsight of history and experience. Ideamarket is designed to allocate scarce natural resources — trust and attention — between parties with conflicting interests.
Think of it this way:
Bitcoin is a novelty, UNTIL we need money that's not controlled by central banks.
Ideamarket is a popularity contest, UNTIL we need credibility that's not controlled by media corporations.
In other words: Credibility = popularity + high stakes.
Most of the time, it doesn't matter who's "popular."
But it always matters who's credible — especially when stakes are high.
How many lives could have been saved if America were listening to Balaji Srinivasan instead of the New York Times about COVID in January 2020?
High stakes compel popularity to defer to credibility.
Bitcoin is a bet that "fiat currencies inevitably die of inflation."
Ideamarket is a bet that "high-stakes moments inevitably happen."
The only purpose of tokens is curation. Buying votes does not entitle the buyer to any part of the listing owner’s profits, nor any other privileges. Ideamarket operates completely independent of listed accounts and assets, and there should never be any expectation otherwise.
