Numerai - a case study in the impact a single use token can have
As many of my followers know, I really like the numerai project.
This is an update from the numerai team:
https://forum.numer.ai/t/the-new-numerai-economy/347
This is the future. This is a glimpse of the world using crypto and an example of what mass adoption looks like. A single, in economy use token. Impact.
This is why I crypto. We can change the world.
"We need to reduce the Numeraire payouts significantly. For the data scientists, it is a significant short term hit but it preserves the long term value of their Numeraire holdings and the Numeraire they will earn in the future.
Changes
These changes will apply immediately to the current Numerai tournament, and all unresolved tournaments as well including all stakes."
That is a pretty drastic change in payouts.
On the other hand,
"These changes encourage data scientists to hold Numeraire, and stake it even more than before. Even with this 90% reduction in Numeraire payouts, the prize pool is still more than 10x higher in USD terms than it was two weeks ago."
it still sounds pretty healthy.
NMR is only useful for data scientists submitting their data. There is no use for the general public.
That's shortsighted in my opinion.
Do you have a purpose for any of the raw commodities that are regularly traded in the traditional investment field?
I don't, but someone does. I can still make money off of them.
There is a purpose for them, so there is demand for them. Demand equals money to be made.
Look at the long term prices of commodities. Commodities trading is dead. Only one small group of people will use NMR.
Commodities trading is dead? Would't say so mate
You'll regret not investing in NMR and Richard Craib.
Time will tell. Im not betting on it though
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