
A New Cryptocurrency for Coordinating Artificial Intelligence on Numerai - collegecrypto
https://medium.com/numerai/a-new-cryptocurrency-for-coordinating-artificial-intelligence-on-numerai-9251a131419a#.ilhkqvk2c
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siliconc0w
More details:
[https://numer.ai/whitepaper.pdf](https://numer.ai/whitepaper.pdf)

Really interesting though i'm not sure I agree it changes the incentive
structure of the competition - more players means you need to bid more
aggressively to see any of the prize pool. It does make it harder to game
their private validation dataset which is likely the goal here.

The real brilliance of numer.ai is that for not even the salary of one SF data
scientist they've managed to employ an army of 'em.

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ronald_raygun
Hey - I am one of the authors on that paper. One of the ideas behind relating
bidding behavior to real life performance was that you don't want to be super
aggressively, because if you overbid, that actually is worse for you. But
obviously you are more likely to win if you bid more, so this gives incentive
to be truthful.

Right now the plan for when we get tons of new users, is to be way more
successful as a hedge fund and increase user payouts a ton. That way more
people get a chance to earn money and good users get a chance to earn lots of
money.

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siliconc0w
I may be misunderstanding something but if i'm bidding on something isn't it
always to my advantage to have less bidders? Where are the positive network
effects coming from?

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collegecrypto
This is one of the most exciting developments I've seen in the cryptocurrency
space in quite some time

