what does it even do

proof of pumps

>>2599733
uses tokens to "predict" market movement. Accurate predictions get rewards. sounds stupid right?
>MUH HEDGEFUND

>>2599733
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.

>>2599741
kek

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.

today it doubled my reasonable stake in it. jumped out at 645k. the question is, do I hop back in tomorrow...?

>>2599733
it moons

>>2600277

>beep boop, I'm a bot.
>NaN wojaks awarded to
>No Waves Address in Name Field
>for DUBS

>>2599975
I'm not sure if they are actually trading using the NMR results. From what I read they were just only observing the results.

WHY DOES IT KEEP GOING UP IM AFRAID TO GET IN NOW BUT IM AFRAID THATLL IT JUST CONTINUE MOONING

AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH

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>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

>>2600322

>beep boop, I'm a bot.
>NaN wojaks awarded to
>No Waves Address in Name Field
>for DUBS

I just looked into how the whole predicting works.
https://docs.google.com/spreadsheets/d/1TULW2CY_SO6tM3NErJfZ7u-bFj1-MNSzFzU2_ke79c8/edit#gid=0
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.

>>2600327

Fuck it

Jumping in boys. I will record my suicide for you fags if it tanks

>>2600343
okay but how much numerai do I need to buy/risk in order to get this? is this a per numerai basis? or what?

>>2600355
We're all going to die anyway.

Because there's no air on the FUCKING MOON.

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.

>>2599733
It moons

>>2600282
Wojak isn't worth anything and it's a scam; fuck right off.

>>2601492
blood over intent.

even academia is full of witchcraft and occult
https://www.youtube.com/watch?v=kyT2g8Try7M

>>2599733
dip rn or going down with no brakes?

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>>2602604
Need to know aswell. Dumped quite alot into this coin and i don't want to lose it

>>2600490
Where does demand come from? Do tokens entitle you to the fund's dividends?

>>2599975
>>2600343
>>2600490
this coin sounds stupid af but good luck anyway

>>2603243
Its free falling to the core of earth anon. It was all hype...

>>2599733
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.

>>2604823
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 ?

>>2604823
do NMR entitle you to hedgefunded profits earned by the programme ?

>>2604823
So of what use is an NMR token to an average bagholder? (eg: non data scientist)

>>2604849
>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 /biz/ has actually never read a whitepaper and has no idea what they're actually investing in.

>>2604858
No, did you even read what I wrote? Go read the whitepaper.


>>2604865
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.

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>>2600146
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?

coin pumping RN

>>2599733
nobody knows what it does. but it's provocative.

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>>2604930
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

>>2604985
>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.

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>>2605010
>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

It makes you money by being a 1.2M supply coin.