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Numerai

Numeraire (NMR) Numeraire (NMR) - A Cryptographic Token for Coordinating Machine Intelligence and Preventing Overfitting The innovation behind the Numerai platform in using all the new tech to its advantage, including Machine Learning, Artificial Intelligence, Data Science as well as the blockchain. The platform manages to get the best possible predictions of market trends by rewarding anonymous scientists for the best models, benefiting the company as well as the scientists. Overview ⦁ Richard Craib is the founder and CEO of Numerai - an AI-run, crowd-sourced hedge fund based in San Francisco. His professional career started with founding Numerai and has taken him to a Forbes 30 under 30 designee position. He is often cited for his innovative approach to hedge fund management and the revolutionary idea to rely so heavily on artificial intelligence for stock price prediction. ⦁ Numerai is an Ethereum-based platform whose main goal is to bring decentralization to the data science field and allow developers to compete in creating effective machine learning prediction models. ⦁ Numerai and the Numeraire token are unique in terms of the idea behind their creation. This is reportedly the first cryptocurrency to be created and released by a hedge fund. One of the main benefits of the NMR token is that it is awarded to data scientists whose models perform well in the Numerai tournament. This means that the token becomes more valuable as more people enter the tournament and start competing. ⦁ Not only that, but the models ventured for the tournament allow Numerai to actively participate in stock market trading based on the results revealed by participating projects. This innovative approach to stock trading makes Numerai one of the few hedge funds to rely significantly on AI-generated data predictions. ⦁ ⦁ ⦁ This coin has been operating on the market since 2014, and it has been traded since 2017. ⦁ Grayscale have registered a trust on NMR, but have not opened it yet. ⦁ Revolut (Europe's largest neobank) has provided an opportunity to buy these coins for euros. ⦁ CIO of Panter Capital has recently invested 10 mln USD into NMR. 3,065 models are building the world's open hedge fund by predicting the stock market. ⦁ NMR is traded on multiple markets, including Coinbase PRO that allows all U.S. based residents to legally obtain this coin. This gives institutional investors a direct access to UMA ⦁ NMR advisors include Coinbase co-founder Fred Ehrsam, Polychain capital founder Olaf Carlson-Wee and Ash Fontana, a board member at Kaggie. ⦁ The board of directors of Numerai include the founder and CEO Richard Craib (a Forbes 30 under 30 awardee), Georey Bradway, and Xander Dunn. ⦁ In fact it is one of the first projects that provides Decentralised Finance (DeFi) services. Details: The Numeraire cryptocurrency is the product from the hedge fund company Numerai which incentivizes scientists to predict financial models using encrypted data provided to them. The cryptocurrency was launched about a year after the hedge fund, to overcome the challenges the project faced operating on the Bitcoin network. The company uses a mix of data science, machine learning, artificial intelligence and cryptography to achieve their goal of crowdsourcing an excellent financial model without sacrificing the secrecy of data. Numerai allows scientists to download their data, which is encrypted for protection, from the company website. The data is then used by the scientists to create models which predict market movements. The models are created using a mix of machine learning algorithms and artificial intelligence. Numerai pays the scientists with the top models in Bitcoin and gives further incentives in its native ERC20 token Numeraire (NMR). NMR is also used by scientists, who are supposed to stake tokens on their models to prevent tampering. Numeraire Technology Numerai holds a competition every week where scientists get access to updated data, and use it to create their financial models. They then upload it on the platform. The models are then tested in real-world markets for three weeks, after which the scientists with the top 100 performing models are rewarded with Bitcoins for their efforts. The scientists are expected to stake a number of Numeraire tokens (NMR) on their models to prevent tampering. The scientists with the successful models get back their NMR tokens as well as an additional Bitcoin payout. The Numeraire tokens staked on losing models are burned (i.e., the scientists who lose the competition also lose their NMR tokens). Erasure Protocol The Erasure Protocol can be used to create smart contracts that enable the Numerai staking mechanism. Numerai staking runs on the ETH blockchain using the Erasure Protocol powered by the token NMR. Total Addresses
Long
by EXCAVO
6
Can it break out of this bullish pattern & how BTC can affect it*DISCLAIMER: I am not a financial advisor and this is not financial advice as these are purely my opinions and speculations. I do not guarantee any results nor am I responsible for your actions. You should always do your own due diligence before trading or investing in this market as it is extremely risky. *Follow me for the latest cryptocurrency analyses on my watchlist *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *Thank you to those who donated, I very much appreciate it.
COINBASE:NMRUSD
by CryptoRush_
ridethepig | NMR Market Commentary 2020.08.08📌 A timely update to the NMR BTC chart after almost completing the retrace. Although AUM is still under 150m, it only highlights how undervalued NMR is. The number of stakers doubled since Q12020 from 300 to 600 and total stakes are now up to +/- $3.5M. The foundations are strong and in this position we are going to overprotect the support as follows: The impatient will commit the strategic error of taking profit and underestimating the importance of 🔑 support at 140k/150k sats and with Erasure (decentalised data markets) the correct course for the game it is a good example of a crypto application that could not have existed a few years ago. BTC breaking on the log chart is a game changer and will trigger the widespread inflows across the Crypto board. Buyers confirming the breakup deserve victory.
Long
by ridethepig
2
NMR - Good upside potentialOne of low cap alts under the radar, it was mentioned to me on Twitter. As a fan of ML and AI in trading decided to check it and I think it a decent upside potential and good fundamentals (there was no ICO for example + one of the investors is a founder of Renaissance Technologies). Briefly about Numerai: crowd-sourced hedge fund, gathering data from many data scientists and predicting stock market outcomes. As they claim, the hedge fund is operated by an AI, which is fueled by a network of thousands of anonymous data scientists. Taking all these facts into account as well as the gaining strength low cap alts I think about more upside. Buying at monthly resistance isn't such a good idea (and it's strong resistance as you can see on the chart), so I'll definitely wait for a retest of 0.0035 BTC level to buy some. Hit the "LIKE" button and follow to support, thank you. Information is just for educational purposes, never financial advice. Always do your own research.
by Bitduke
1
ridethepig | NMR Spot Commentary 2019.12.19A good time to review the NMR chart almost a Quarter after ErasureCon... For those who attended you will know it was a major game changer with Numeraire introducing censorship resistant file sharing is here with Erasure (a decentralised data market with an immutable ledger). This is a new chapter for NMR with one of the few Crypto's with an established use case. For the technical flows, we remain in the same range with the same break above 67866 in play. We got the official cascade of stops which will be enough to trigger the momentum leg opening a target of the 61.8% and 76.4% retracements at 163923 and 195293 respectively. Reassessment from a technical perspective is only necessary below 31141. Good luck all those buying NMR and BTC for Christmas.
Long
by ridethepig
ridethepig | NMR Spot Commentary 2019.01.18A short update here essentially with one intention to shed some light over the pending impulsive wave for Numeraire. Bulls wish to occupy the retrace, a swing in order to deliver; but if he tries to crack resistance at 99.000 bears have time to prevent him doing so. So the correct move here is loading on the retrace into our loading zone, leading sellers into betting on momentum against support, because as usual most retail go overboard when they attempt a recapture. I am going to protect the support here and lend aid to buyers; the key point here is that buyers are strong here in one area, a simple retest is enough to provoke the impulsive swing, because our opponent cannot sense an invasion. At the very least, sellers will be forced into covering as we trip the highs. Good luck all those in Numeraire for the coming months, and, as usual thanks so much for keeping your support coming with likes, comments charts and etc !!
Long
by ridethepig
3
NMRBTC: Research Post + Potential Macro Double BottomDisclaimer: This is a position that I've already entered and am largely in the green on, as shown above. *This is not financial advice. This post is not a recommendation to buy or sell any asset* Over the past few weeks, I've been doing some research into a project I personally find both interesting and promising. Numeraire (NMR) is a token that has largely flown under the radar ever since 2017, and has only dumped. With the NMR token being near all time lows, I thought it was time to see where the project was headed. Originally, I found out about this project towards the end of this summer due to a news headline showing that major exchanges had come together and made a "Crypto Rating Council" to determine the security / commodity status of a set of coins. www.cryptoratingcouncil.com On this list, one token stands out, NMR. At least all of the other tokens have persisted in crypto community discourse for some time now, but I personally had never heard of Numeraire, and wondered why these exchanges would even be interested in giving such a arbitrary project a rating. These exchanges and other associated companies include none other than Coinbase, Kraken, Bittrex, Circle and GrayScale, among others. On top of this, there was what seemed to be a large accumulation only on Poloniex roughly 3 weeks ago, seen here: Upon closer examination of 1m candles, there was some very odd trading occurring at this time as a result, so whether this was purely accumulation by a large player is unknown. Do do your own assessment of the chart to see what I mean. So, after this all sparked my interest, I did some digging. www.youtube.com This is a keynote from the recent convention the Numerai team hosted in which they describe their vision for their project, and the usage of the NMR token. As it turns out, Numerai is a hedge fund founded by Richard Craib, Berkeley / Cornell grad and former hedge fund member. Numerai, the hedge fund, hosts tournaments between data scientists to essentially create what they coin as a "meta model" of whatever asset they're trading. They do so by providing "hedge-fund quality" data to data scientists, with which these participants then use their own machine learning algorithms to build a model to most accurately predict the next outcome. This data, including its features and target values, is obfuscated as to prevent bias by the participants as well as to abide by the agreements Numerai has with its data vendors. The best performing data scientists receive payouts from the hedge fund in Bitcoin (thus not forcing selling pressure on the NMR token), and are required to stake NMR with their prediction models so that they have incentive to be as accurate as possible. Furthermore, these participating data scientists are given reputations on the Numerai leaderboards. On top of this simple use case for the token, the team has been working on a new protocol they call "Erasure" which is essentially an Augur-esque predictions market for any asset a user may want to look into. This is described in the keynote above, as well on the Numerai's Medium page, here: medium.com The team is also looking to deploy ErasureQuant and ErasureBay, two interesting applications based on top of Erasure that I definitely want to do more research into. As of now, NMR is hard capped at 11 million tokens, and has a token burn feature included (associated with Numerai's reaction to submitted prediction models, as well as a contractual griefing mechanism used on Erasure). Connections: -Fred Ehrsam, Co-founder Coinbase, Founder of Paradigm (venture capital) -> Numerai investor, friend of Richard -Union Square Ventures (several partners invested, including Fred Wilson, 700k followers on twitter) -Renaissance Technologies, the world's most dominant hedge fund. All of these connections are publicly available in this video: www.youtube.com , and this video vimeo.com , as well as on the Numerai website: numer.ai Recent developments: -Erasure was launched only a few months ago in August, and is undergoing continuous development. -Active community on Reddit, Numerai's RocketChat forum (on the website), Telegram, and in the Numerai tournaments. -ErasureCon was hosted in October -https://www.coindesk.com/numerai-token-sale-raises-11-million-from-vc-firms-paradigm-placeholder A new round of investment for the project just happened earlier this year, led by Ehrsam's Paradigm. In closing, this is intended just to be a research post, and I do implore anyone reading to do their own research. If you find this project interesting or find anything else to add to the research I've done into it, please do message me @CoinRepoMan on Twitter (twitter.com).
by see_are_em
#NMRBTC Numerai consolidating for another next move highershowing bullish price action on declining volume, evidence of healthy consolidation for a move higher. Compare the two consolidation phases' volume/price profiles, which supports the anticipated direction. R/R decent near 3:1 if you need to use hard stops. NMR has been hanging around $5 for a while now, so a doubling to close to $10 would be the near-term swing high if there's follow through past resistance shown. Holding a core position but would look to take some profits at the levels shown, since NMR typically goes through longer depreciation cycles.
Long
by JustChartThings
Numerai Might Outperform Bitcoin by 55%Yesterday Numerai has tested the low, hitting 81k satoshis. At the same time it found the support at 327.2% Fibonacci, applied to the corrective wave up after the uptrend trendline breakout. The support is at 85.6k satoshis, and althogh price spiked lower, closing price stayed above that level, suggesting the potential bottom. Although it might seem very risky to consider bying NMR/BTC, the risk/reward ration is very attractive. If the 81k satoshis support holds, price is likely to encrease towards the 38.2% Fibs, that is 140k satoshis. this level previously acted as the support as well as resistance, which once again could play the same role. When/if the resistance would be reached, NMR would gain 55% over the bitcoin, while if the 81k satoshis is broken, this would be only a 11% loss. Break below 81k satoshis, would certainly invalidate bullish outlook and is likely to result in a downtrend continuation.
Long
by CryptoPAMM
$NMRBTC #cryptocurrency #NMRBTC in accumulation modeand potentially will be setup for a major run depending on future fundamental developments. Clearly signs of large positions being taken here over the past 6 months in a coin with a real use case that's being used for its intended purpose. Surprise catalyst will be a connection between Numerai's hedge fund performance with the Numeraire coin - hinted at in one of their Medium blog posts: bitcoinmagazine.com Longer term investment potential here, not really a trade as the action is generally boring (good time to accumulate).
Long
by JustChartThings
2