Democracy and individual liberty; decentralised prediction markets
A pair of links I found recently (via Marginal Revolution) and haven't found on LW: http://www.cato-unbound.org/2014/03/10/mark-s-weiner/paradox-modern-individualism https://bitcointalk.org/index.php?topic=475054.0;all The former discusses liberty in the context of clannish behaviour, arguing that it is the existence of the institutions of modern democracies that allows people individual liberty, as it precludes the need for...
You seem to have made two logical errors here. First, "This belief is extreme" does not imply "This belief is true", but neither does it imply "This belief is false". You shouldn't divide beliefs into "extreme" and "non-extreme" buckets and treat them differently.
Second, you seem to be using "extreme" to mean both "involving very high confidence" and "seen as radical", the latter of which you might mean to be "in favour of a proposition I assign a very low prior probability".
Restating my first objection, "This belief has prior odds of 1:1024" is exactly 10 bits of evidence against the belief. You can't use that information to update the probability downward, because -10... (read more)