New Hedge Numerai Fund Pays Bitcoin Scientists.

A new hedge fund called Numerai, qualifies itself as a “super and intelligent stock market” by using scientific and learning machines to further expand investment. According to the founders of the fund, some data scientists are paid in bitcoins to build algorithmic models that reinforce future predictions.

When the rise of the Internet occurred, the algorithms became very popular making the machine have an efficient way to predict events based on probability. Numerai brings together the intelligence of more than 7,000 data scientists who take advantage of the accuracy of stock market prediction. In a recent issue of the Wired Technology publication, the company’s founder detailed that scientists are paid in cryptocurrencies.

Currently, tthe software backed by data scientists has worked with more than 29 billion predictions of equity. Richard Craib, founder of Numerai, told Wired that 100 scientists have been paid with bitcoins for their services. According to the $ 150,000 USD bitcoins company the data scientists have been scattered for their work. In addition, the data from the researchers are collected within a classification table collecting intelligence to create a motorized and collaborative prediction model.

“No data scientist on Numerai has a machine learning model that is better than all the other models combined,” “So Numerai is not a search for the ‘best’ model; it is a platform to synthesize many different models with many different characteristics. Although data scientists compete to place on the leaderboard, the competition is designed to collect models. Numerai is not really a competition; it’s an invisible collaboration to build the meta model,” explains Numerai’s Medium blog.

Another project called Augur is a decentralized prediction platform built on Ethereum. Augur also uses collective data to formulate forecasts about future events. The project uses game theory, and the incentives of cryptocurrencies to improve intelligence. Theoretically, as the platform becomes popular, predictions relative to any global event become more accurate. Augur was designed by Joey Krug, Tony Sakich, Jack Peterson and is currently in beta. The project expects its live release sometime in 2017.

Numerai and the many analytical data and prediction market projects could be game changers within the global economy. In addition, voluntary data collection seems more favorable than entities that scrape data without permission. According to the founder of Numerai, the learning of machines and the management of combined wallets can obtain lower bug rates and higher yields.

“We are building the largest ensemble of stock market machine learning models in the world,” Craib said.

Image: Numerai


Disclaimer: This press release is for informational purposes only. Information does not constitute an investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent infocoin views and should not be attributed to Infocoin.

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