Traditional PMs have been persecuted much in the same way as e-cash systems, and current Bitcoin alternatives require the user to trust the operator to 1] keep funds safe, 2] create desirable markets, and 3] correctly determine the outcome of markets.
Contract outcomes are determined in a trustless and decentralized way, through a weighted vote based on present and past consensus with a unique Nash Equilibrium where all voters report accurately on the state of markets. Incentives are to only create contracts which are useful (measured by trading volume), and unambiguous (measured by vote-similarity). Additionally, market liquidity (a frequent problem) is guaranteed to be permanently nonzero thanks to the LMSR, an invention of Dr. Robin Hanson. The LMSR's use of an update rule instead of actual Buy/Ask trading greatly simplifies implementation, while allowing for realtime buying and selling.
Read [this](https://github.com/psztorc/Truthcoin/raw/master/docs/1_Purpose.pdf) to understand "what this is and why it is important".Please be aware that this project exists only as a design with some proof of concept code for the novel parts. There is no useable version, no website/forum, no mailing list. In fact all the code/writing here was created solely by one guy (although we all stand on the shoulders of giants). If you have the time/ability to create a bitcointalk-style forum (I don't), it will become 'the official forum'.
I'm Working on Now: Rewrite new R items in python.
I'm Working on Now: Evangelize via forum posts, FAQ improvements, etc.
Up Next: Seek development collaborators, and/or funding (for development). Anyone, anyone?
The 'lib' folder also has html files which describe the outcome of function tests and demonstrations. These files were automatically generated from R code using R-markdown, and the .rmd files are included alongside the html files for reproducibility.
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https://blockchain.info/address/1M5tVTtynuqiS7Goq8hbh5UBcxLaa5XQb8
I'm giving away all of this work for free. It was hard work!
Thanks to everyone who donated.
Please share your opinion, and your questions so the FAQ (docs page) can grow!