what does it even do
What does it even do
Nicholas Moore
Xavier Bell
proof of pumps
Hudson Morales
uses tokens to "predict" market movement. Accurate predictions get rewards. sounds stupid right?
>MUH HEDGEFUND
Jacob Smith
well right now its making some lucky fucks pretty rich...the idea behind the company is cool, but the ICO as far as I know does nothing.
Jayden Murphy
kek
Benjamin Morgan
It's basically a hedge fund, but instead of having 100 quants or whatever, it uses crowdsourcing to create predictive models. So instead of 100 guys trying to beat the market, there are 100k guys, and their best models are combined into a meta model
Users can create predictive algorithms for the stock market. If they are successful, they will be rewarded with NMR (and cash, I think). If they are unsuccessful, their tokens are destroyed. The algos are used to create a hedge fund in the stock market.
Joseph Bell
today it doubled my reasonable stake in it. jumped out at 645k. the question is, do I hop back in tomorrow...?
Jose Walker
it moons
Hunter Kelly
>beep boop, I'm a bot.
>NaN wojaks awarded to
>No Waves Address in Name Field
>for DUBS
Easton Wood
I'm not sure if they are actually trading using the NMR results. From what I read they were just only observing the results.
Brandon Torres
WHY DOES IT KEEP GOING UP IM AFRAID TO GET IN NOW BUT IM AFRAID THATLL IT JUST CONTINUE MOONING
AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH
Ayden Russell
>tfw I thought about jumping in at 0.03, but thought there was no way it was gonna keep mooning after going up so damned high
Daniel Brown
>beep boop, I'm a bot.
>NaN wojaks awarded to
>No Waves Address in Name Field
>for DUBS
Isaac Harris
I just looked into how the whole predicting works.
docs.google.com
If you're the top predictor you get 1600 nmr for the month, that's over $200k at current prices. Top 8 would still be over $100k and this pays out every month. Data scientists are going to be all over this.
Blake Harris
...
Grayson Perez
Fuck it
Jumping in boys. I will record my suicide for you fags if it tanks
Daniel Myers
okay but how much numerai do I need to buy/risk in order to get this? is this a per numerai basis? or what?
Christian Edwards
We're all going to die anyway.
Because there's no air on the FUCKING MOON.
Joshua Taylor
Nothing if no one acyually uses it for its intended purpose, which is to serve as a token for those that create effective prediction models that are then fed into a machine learning algo that trains an AI to trade. by way of crowd sourcing, it could produce the worlds greatest autonomous hedge fund. Its a fucking long shot.
Joseph Carter
It moons
Cooper Peterson
Wojak isn't worth anything and it's a scam; fuck right off.
Chase Richardson
...
Asher Robinson
blood over intent.
even academia is full of witchcraft and occult
youtube.com
Christian Torres
dip rn or going down with no brakes?
Jose Adams
Need to know aswell. Dumped quite alot into this coin and i don't want to lose it
Ryder Flores
Where does demand come from? Do tokens entitle you to the fund's dividends?
Jaxson Young
this coin sounds stupid af but good luck anyway
Xavier Harris
Its free falling to the core of earth user. It was all hype...
Samuel Bailey
Numerai is a hedge fund. Funded by renaissance tech. (Look up renaissance tech, those guys are seriously scary)
They have a group of about 12k data analysts worldwide, to whom they send market data in a distorted form. Data analysts try to find patterns, send their algos to the firm, the firm uses their own algo to translate those into a trading strategy. Problem is that data analysts are overfitting their data to the training data to make better predictions and make more money, but it is a less accurate predictor of real world markets. They will give NMR to data analysts, that they can stake on their prediction. If their model predicts comparatively well, they get to keep the NMR + a cash bonus. If their model of the training data doesn't translate well into real-world predictions, the NMR they stake will be burned, and they get a smaller/no cash reward.
Basically it's a way for the firm to know how sure a data analyst is of his model, and to stop them from overfitting their models to the training data.
Coin will have value based on how much money the hedge fund ends up making, and how much we speculate on top of that.
Coin has 1.2m released now, and will release up to a max of 21m coins total, but a significant amount will be burned. Inflation/deflation of this coin will be interesting to watch.
Hope this clears up what NMR is a little bit.
Charles Reed
Why is there so little available now then ? Why hold over 85% supply away from everyone and what do they need such a large backlog of potential NMR for ?
Ethan Kelly
do NMR entitle you to hedgefunded profits earned by the programme ?
Owen Davis
So of what use is an NMR token to an average bagholder? (eg: non data scientist)
Chase Howard
>Why is there so little available now then ? Why hold over 85% supply away from everyone and what do they need such a large backlog of potential NMR for ?
To pay out future data analysts. They will need to give them NMR to stake. Just read the fuckin white paper, it's 5 pages long, easy to understand, and actually legitimate.
I get a feeling like 95% of Veeky Forums has actually never read a whitepaper and has no idea what they're actually investing in.
Jason Fisher
No, did you even read what I wrote? Go read the whitepaper.
They are going to use it to pay data scientists. Max payout atm for data scientists in their firm is like 15K USD per month. 12000 data scientists will be using this every month. You do the math. NMR will have a pretty big intrinsic value. They put it on exchanges so that data scientists can trade their NMR for fiat after they get their payout.
So you get to buy NMR. If the company Numerai has a lot of profit, the coin will be worth a lot. The more the company profits, the more incentive there is for data scientists to stake NMR on their predictions, the better the investment strategy, the more NMR is worth.
If this works out, NMR will increase in value as long as they don't dump too much NMR on the market every month.
Hunter Morris
It's down about 65% on bittrex. question is, do we hop in now? Yeah ik Monday is tomorrow, but this thing's whales seem to not wanna follow the rules, so do we risk tomorrow?
Julian Howard
coin pumping RN
William Ross
nobody knows what it does. but it's provocative.
Caleb Nguyen
Numerai profitting is simply a seperate entity from the NMR tokens and has literally 0 relevance to everyday holders, from what I can gather
So this is essentially a fancy payment system for scientists, with none of the fancy AI driven profits going back into the NMR token, which everyone is financing, just so someone gets to pay scientists for free ?
Lel, i'm out, dropping bags, fuc this
Jason Morales
>Numerai profitting is simply a seperate entity from the NMR tokens and has literally 0 relevance to everyday holders, from what I can gather
>So this is essentially a fancy payment system for scientists, with none of the fancy AI driven profits going back into the NMR token, which everyone is financing, just so someone gets to pay scientists for free ?
>Lel, i'm out, dropping bags, fuc this
Am I this bad at explaining, or does this guy simply have an IQ of 80? Either way if it's unclear to you, just go read the fucking whitepaper. It was written by someone with a higher verbal iq than me.
If you haven't dropped bags at 0.45-0.6 during yesterday's pump you are probably retarded anyways, a 10 year old child could have predicted today's dump. The interesting question is what will be a good re-entry strategy, and how high will it go once that Numerai money starts rolling.
Easton Walker
>you must have an I.Q. of 80, gonna go give the smart men my money so they can pay scientists once I figure out a re entry strategy, r-read the w-whitepaper
Easton Campbell
It makes you money by being a 1.2M supply coin.