Just giving my fellow Steemians a public service announcement about alternative currency called Numeraire that is now trading on Bittrex and is up bigtime!!!
It is a cryptocurrency that allows data scientist to build models using artificial intelligence to trade on the stock market. There was no ICO from what I can gather but 12,000 data scientists were issued 1 million crypto-tokens to build models for the construction of an artificial intelligence hedge fund.
Here are some articles I found about the project.
https://www.wired.com/2017/02/ai-hedge-fund-created-new-currency-make-wall-street-work-like-open-source/
https://medium.com/numerai/invisible-super-intelligence-for-the-stock-market-3c64b57b244c
https://medium.com/numerai/a-new-cryptocurrency-for-coordinating-artificial-intelligence-on-numerai-9251a131419a
Here are some important points that I pulled out of the articles:
The stock market is inefficient with respect to new developments in machine learning — only a fraction of the world's data scientists have access to its data. Numerai is changing this
Numerai encrypts its trading data before sharing it with the data scientists to prevent them from mimicking the fund's trades themselves. At the same time, the company carefully organizes this encrypted data in a way that allows the data scientists to build models that are potentially able to make better trades.
Here is a video from their website:
How is it Trading?
Well when it was released yesterday here was the price on coinmarketcap.com
I scooped up a couple shares on a whim because I remember reading about it in January. So how is it doing now?
Now I'm not here to give investment advice it is up to each person to do their own Due Diligance but I have already doubled my investment since yesterday. I usually try to keep an eyes out on new coins that get listed on Bittrex. You can always tell because the prices starts off down 90%.
However when you zoom in on the chart you can usually tell what the bottom is and if it has momentum to push forward.
Based on the chart and the background of this project I thought it was worth the investment. Now it will most likely have high volatility since it has only been trading for two days but a hedge fund that is based on blockchain seems like a winning bet for me!!!
