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RE: Mini CONTEST: How AI supported by growing blockchain technology can change the world?

in #blockchain7 years ago

Hi Piotr, you again managed to ask a question that just asks for answering ;-). Since I would probably write a whole book to answer all the possible subjects, I will concentrate on only one of them.

Will AI be able to do daytrading for us? Better than currently humans do?

Here my contest entry:
The big banks already understood that machines are much more efficient when it comes to trading shares or currencies. They have been employing the best graduates in mathematics from the most renown universities to build up algorithms for trading bots. They use them to do high frequency trading (several operations within seconds) and more importantly for the usage of derivative products like options or futures. At the big banks there is hardly any trade made by a human being... Well that is not completely true since they still trade the shares and bonds of their customers by humans and ask for commissions for doing so.

So while the normal people have to pay the banks for buying and selling shares without the knowledge collected by the algorithms, the banks have much better options.

AI and blockchain might level the playground

If it becomes possible to program bots according to the best algorithms and that this knowledge becomes available to everybody as open source code, then it will be possible that all players on the markets play with the same guns.

How long will it take?

A couple of years ago, I would never have thought it to be possible. But I think now that we are just a couple of steps away from it. I have friends who already run their own bots on Bitrex or Kraken. For the moment, it is quite difficult to run them because there are too many settings and the chances of losing are as big as the chances of winning.

Wouldn't it be nice if we could all profit from the best technology based on AI and blockchain, to have an automated income on the share markets?

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Well said, @achim03. I agree.

I was telling @riovanes in another thread that I gave my 17 year old son some crypto for Christmas. He formed a trading group in one of the social media sites for trading that he admin's, has been experimenting with using bots one of the members develops for trading and in the bear market since he turned $200 into around $11k (i.e. about 5,000%). I was just trying to get him to explain to me better how he is using it. Evidently, he uses the bot to help speed up the trading patters and kick in trades when certain data indicates a price is about to go down or visa versa. Talk about beginner's luck... :)

I am always amazed how fast the young ones check these things. He has a good start to finance his future studies ;-) and maybe he will develop an open source trading boot with his friends that will help us all!

Thank you for this rich and amazing and kind comment. I read it quickly and I will have to re-read it calmly before bet time :)
Hell of a great piece of work here.

Hi @crypto.piotr thanks a lot for your answer. Your contest was really successfull and generated a lot of interaction. Good luck with checking all the comments on this post. There is a lot of work waiting for you ;-)
p.s: I just used "text-justify" class - thanks for the tip

im glad I could help.

indeed I will have loads of catching up and reading hahaha. I didnt think that so many people will decide to share their thoughts. i cannot imagine achieving similar success on facebook.

I agree with you. The quality of the discussions are on another level than with traditional social media. Good luck with the work ;-)

You're the man! :) thx

Hi @achim03

Just wanted to say "thank you" one more time for supporting my little contest. Engagement has been massive and I didnt expect it to be that big. It's going to be so hard to chose 5 best replies lol.
Just small reminder: Winners will be announced on the 28 April 2018 (saturday)
Yours, Piotr