Numeraire - where did this come from?

[clardalan]

I see this all of a sudden on Bittrex and coinmarketcap.

What is this? Legit? Website and storyline is decent. Not sure how this will work out (scam or true?). Anyone familiar with this?

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[CMCET]

It currently is the third highest volume on bittrex (after Antshare and Ethereum). It's also listed (#31) higher for "24hr Volume Ranking"  on CoinMarketCap than Iconomi (#33), Augur (#35), ION (#37), STEEM (#40) and other well known altcoins yet i never heard a single word about Numeraire on any forum, telegram group chat or any crypto news website. I NEED THE KNOW WHERE THIS CAME FROM!!

[ttookk]

It currently is the third highest volume on bittrex (after Antshare and Ethereum). It's also listed (#31) higher for "24hr Volume Ranking"  on CoinMarketCap than Iconomi (#33), Augur (#35), ION (#37), STEEM (#40) and other well known altcoins yet i never heard a single word about Numeraire on any forum, telegram group chat or any crypto news website. I NEED THE KNOW WHERE THIS CAME FROM!!

You could just use the links on coinmarketcap. It leads to this:

https://numer.ai/

https://forum.numer.ai/

I think most of what you want to know is in there. From what I gathered, without actually looking too closely, it's trying to develop an AI that reads market data to suggest future market movements. To do so, they are holding competitions, in which people can suggest future market performance based on "anonymized" sets numbers. As a reward, those who performed better than average, earn numeraire tokens. I guess in the future, those tokens are supposed to be used as shares in the developed "AI hedgefund". Anyone with more insight?

[satoshforever]

Definitely not a scam. Numer.ai is a venture backed company which has been operating for a while. Like ttook said, it's a hedge fund based on community data scientists.

[Alttrader203]

Definitely not a scam. Numer.ai is a venture backed company which has been operating for a while. Like ttook said, it's a hedge fund based on community data scientists.

So, who are these scientists? Whats the economic midel to make this coin worth more. It is clear they are staking this for rewards. It is not clear to me how that will help the price of the coin, as they can also distribute more coins over time.

Because the coin does not mean stakes in the hedge fund.

[paulx3]

Numerai has been around for about a year. It's backed by some big names including Naval Ravikant https://www.google.com.au/amp/s/techcrunch.com/2016/12/12/numer-ai-is-a-crowdsourced-hedge-fund-for-machine-learning-experts/amp/

It's an AI based hedge fund whereby quants can generate models to trade on Numer.ai's fund, and be rewarded with NMR tokens. I think that they started rewarding via Bitcoin but probably realised quickly that using their own crypto token was better for them (as they can generate their own, rather than having to provide BTC)

[ePesoInitiative]

It just didn't make its presence known in this forum. 

[pynetx]

numerai has been around from some time. They just did not make ANN thread.

[satoshforever]

Definitely not a scam. Numer.ai is a venture backed company which has been operating for a while. Like ttook said, it's a hedge fund based on community data scientists.

So, who are these scientists? Whats the economic midel to make this coin worth more. It is clear they are staking this for rewards. It is not clear to me how that will help the price of the coin, as they can also distribute more coins over time.

Because the coin does not mean stakes in the hedge fund.

At first they paid the 12,000 data scientists with Bitcoin, which in their case was sued to pay them with a cash-equivalent which is anonymous and online. They found that they’re incentivizing people not to collaborate so they created their own currency which appreciates as the community succeeds.

See:
https://medium.com/numerai/a-new-cryptocurrency-for-coordinating-artificial-intelligence-on-numerai-9251a131419a

[clardalan]

interesting.

so, back to the economics model:

What drives the price of this coin? (except market speculation of course)

I want to understand if it is burnt, if so at what rate.
also if it is mined, at what rate?

[anahata]

I see this all of a sudden on Bittrex and coinmarketcap.

What is this? Legit? Website and storyline is decent. Not sure how this will work out (scam or true?). Anyone familiar with this?

Apparently it's the only coin after Ethereum which is being used in real world. BTW eth is being only used for investing in crowdsales. Check their website to learn more on how to collaborate.

[tokenZ]

"BTW eth is being only used for investing in crowdsales."

Not that simple.

[JeffBrad12]

I see this all of a sudden on Bittrex and coinmarketcap.

What is this? Legit? Website and storyline is decent. Not sure how this will work out (scam or true?). Anyone familiar with this?

I don't think if that's a legit coin, But the pump makes the coin looks pretty odd in my mind. Already touched ATH and it comes to the ground again. You can see the latest price of the coin and there is not something different with the general price before it gets pumped so hard. I can say if that's another pump and dump coin. it gets reflected by the result of the pump. There is no stability of price in there.

[RandomEvent]

If you really like it, let it settle down over the next couple of weeks and acquire. There are other coins really being used, but not to the level necessary to continue the rise.

[matale0]

It currently is the third highest volume on bittrex (after Antshare and Ethereum). It's also listed (#31) higher for "24hr Volume Ranking"  on CoinMarketCap than Iconomi (#33), Augur (#35), ION (#37), STEEM (#40) and other well known altcoins yet i never heard a single word about Numeraire on any forum, telegram group chat or any crypto news website. I NEED THE KNOW WHERE THIS CAME FROM!!

1st.    https://i.imgur.com/6GEuO10.png

[Fantum]

I think with even a low supply of just over 2 million coins the price is too high for numeraire. This pump is all hype, and a cool sounding name. Like all these icos, people think it's so cool and new, but there are already projects/coins that do almost the exact same thing but have been developing for a year. These un hyped are the ones that will come out on top, not some green ico that only has a lot of money and no product. Numeraire might be useful, and worth something, but I think it's 10 times too much right now.

[clardalan]

i just totally hate nmr...

lost 80% on my purchase price so far. what a stupid coin (and stupid me for not researching enough)

still looking to understand the burn rate weekly, anyone know that?

[The_Dark_Knight]

i just totally hate nmr...

lost 80% on my purchase price so far. what a stupid coin (and stupid me for not researching enough)

still looking to understand the burn rate weekly, anyone know that?

This is the price we pay for investing in altcoins, sometimes you win sometimes you lose, it seem you made a very basic mistake buying in the peak of a bubble, if you have not invested in the coin before the bubble then forget about it, you are going to lose money.

[SwedishGirl]

Is there an official thread for this project? I was looking at the chart today and though it finally looks good but not sure where I can find updates.

[Moxleytgf]

I don't really know what to say here... It hit Bittrex yesterday, plummeted from it's .5btc release, stabilized at ~$20 and is now trading for $50. The only thing keeping the price in check are 100+Btc walls, which are getting knocked down in short order and the price quickly hits the next wall. This is nuts...
FOMO got me... I bought some, then immediately regretted it and sold half. Went back to find them twice the price, and bought more. I feel less regret at this point.