Quote from Rearden Metal:
Here's a situation that comes up all the time on these boards: ET member A claims to have accomplished something ("I made millions trading forex", "I have a Wharton MBA", "mine is bigger than yours", etc.). Then ET member B comes in to call B.S. The end result is nearly always inconclusive- The claims are neither proven nor dis-proven beyond a reasonable doubt.
Well, what if a trusted third party could step in to act as both arbiter and escrow in these situations, whenever they arise? There could be a set minimum wager amount, say $500. Both parties would supply supporting documents and references to the arbiter to back up their claims, along with their wagers. The claim is then investigated thoroughly by this trusted arbiter while the wagers from both opposing parties are held by him in escrow. When the investigation is concluded to the arbiter's satisfaction, he then publicly declares the winner and pays him. A small percentage of the funds wagered are kept by the arbiter as compensation for his efforts. If one party to the dispute is willing to put down a wager and the other is not, that essentially settles the matter just as effectively.
The obvious question then, is; Who could be trusted to act as judge and escrow is these situations? Baron would be the obvious choice, but I'm pretty sure he's busy enough already and definitely wouldn't want the potential legal trouble of handling bets. I just think it would be cool if a senseless online flame war wasn't the only avenue for disputes between ET members, and there was an established way for these things to be judged and settled for once and for all, every single time.
