Richard Craib on how Numerai is diff frm traditional hedge funds: data, machine learning &Blockchain

There’s a new way to make stock market predictions. Numerai, a hedge fund based in San Francisco, has gained a following as the first hedge fund that gives stock market data to machine learning data scientists using structure-preserving encryption to prevent them from mimicking the fund’s trades themselves. Several thousand anonymous data scientists compete to create the best trading algorithms—and win bitcoin for their efforts. At the same time, the company carefully organizes this encrypted data in a way that allows the data scientists to build models that are potentially able to make better trades. Founder Richard Craib believes that Numerai can become even more successful if it can align the incentives of everyone involved. His hope is that his new kind of currency, Numeraire, will turn online competition into a collaboration—and turn Wall Street on its head in the process.

[michaelcoonce]

Fully fascinated and engaged by this effort. Never considered ML an option on my path. Until now. Bravo Numerai team!

[JustWantMyClip]

But why are tokens needed? What are tokens for? What makes the price go up??

[LeandroIamele]

Awsome video. You asked a lot of graet questios but you were very respectful with something quite difficult to grip for most of us. Great interview.

[BastienPedersen]

Thanks for the analysis! I need some advice: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How can I transfer them to Binance?

[jayp]

Generally, a mixture of models performs much better and is more resilient to overfitting, as well.

[Thomas-vgem]

Do you think data scientists will be/remain cooperative, as they will earn peanuts or nothing and will progressively value their time/expertise? On the other side, Numerai will have limited R&D costs and make millions (to say the least). Also, launching a weekly contest every fund (possibly with smart contracts for the trust) could/will also do it if the business model is viable.