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AI Raises $36 Mln in One Minute

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SingularityNET, which plans to create a decentralized marketplace of AIs, recenly raised $36 mln in just one minute, selling all of its AGI tokens.

AI Token Sale

The company states that the issue was massively oversubscribed, with 20,000 people registered to participate, looking to purchase around $361 mln worth of tokens.

The company reduced the number to a more considerable amount, according to its press release, by:

“[Screening] all applicants using layers of algorithms, in addition to manual review, to comply with global KYC/AML regulations. This reduced the pool of contributors to 5,000, but also set a new standard for fundraising via Blockchain with respect to global legislation.”

Its founder Ben Goertzel also said:

“If you need a document summarized, as a user you can put a request into SingularityNet…

You may get bids from twenty different document summary nodes…and you may choose one with the right balance of reputation and price.

But now that document summary node if it hits something in the document it can’t deal with, it can outsource that…if the document summary node that you’re paying…hits an embedded video it can outsource that to a video summarizing node and it can then pay it some fraction of the money it was paid. Or, if it sees a quote in Russian…it can outsource that …to a Russian to English translation node that can do that translation, then send it back to the document summary node.”

Artificial intelligence is no longer a sci fi story, as it has now entered the realm of cryptocurrencies with great success, which makes us wonder, what will come next?

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Bitcoin: $50K Before Crash, Says Jordan Belfort

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Jordan Belfort, or “Wolf of Wall Street” has shown some doubt concerning Bitcoin’s price.

Belfort’s Opinion

Belfort

Belfort said that he does not believe that Bitcoin is a scam, however he thinks that the cryptocurrency is a good tool for manipulation.

He believes that the rising price of BTC can be attributed to wild speculation because of what he sees as improper use of the cryptocurrency:

“Something [BTC] was designed to be used as a currency, and it’s being used as an investment vehicle […] As a currency, Bitcoin is no more useful at $20,000 or $100.”

“The Wolf” has spoken negatively about the potential for manipulating digital currency markets due to the thinness of the market. He referred to the case of Olaf Carlson-Wee, an early Bitcoin enthusiast who was paid in cryptocurrency when working at Coinbase back in 2013.

Belfort’s predictions rest on the fact that while Bitcoin is, in his words, a “wolf in sheep’s clothing,”  it also “might go to $50,000” before what he is certain will be its fall to $0.

He previously said that Bitcoin was problematic due to hackers having easy access to the currency. He also said in October that ICOs were the “biggest scams ever.”

Belfort is not a Bitcoin investor.

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Bitcoin Google Searches are Low

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One of DataTrek Research’s finest Nicholas Colas, has been talking about the fact that Google searches for Bitcoin have significantly dropped recently.

Google Search

“Going into December, the Google searches skyrocket. You saw that correlate to the total increased number of wallet growth,” Colas said in an interview/conversation with the CNBC.

But, as the cryptocurrency community has seen a bearish short term downtrend, interest in the crypto has apparently started to cool off in the mainstream world.

“Bitcoin” searches are down by 75 percent from their comfortable spot just a few weeks ago, per Colas. And he doesn’t seem to be waiting for any signs of a resurgence of interest any time soon, as he states:

“It’s very much a case where you have to hold interest in new bitcoin owners to get bitcoin to go up. Right now [Google] is telling me there’s not really that next leg up in bitcoin because there’s not that leg up in interest that leads to wallet growth that leads to price appreciation.”

Maybe it’s not such bad news for the famous cryptocurrency, however it does indicate that its mainstream presence has gone quite a bit, since any newcomer would be tempted to see, “what is Bitcoin?”. But since there are no many searches it’s safe to say that interest is not as strong as it once was, at least for now

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Hileman on Bitcoin Regulation Threat

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The eyes are on Bitcoin, Ripple and ethereum for regulations, Dr Garrick Hileman believes these regulations are inevitable.

Hileman Warns of Coming Threat

Hileman has warned people, specially investors about a regulatory crackdown.

He said: “Many regulators are trying to strike the right balance here between not crushing the sector and allowing innovation to foster and attract new investment to their local economies, job growth, etcetera.”

“But also trying to protect investors who are entering the space who may not have not have the resources to fully vet some of the purchases they are making.”

“It’s a really tricky balancing act for regulators.”

UK Prime Minister Theresa May stated that cryptocurrencies demand a tight regulation.

She said:

“We should be look at these very seriously – precisely because of the way they can be used, particularly by criminals.”

Dr Hileman also talked about taxes, saying that:

“From a regulatory perspective, we are seeing growing interest from tax authorities.

“Securities regulators have been the main focus for the past six months or so, but tax authorities are getting more interested in crypto with the incredible appreciation.”

Crypto firms seem to be working in order to “radically increase the number of transactions that can be processed on their networks”.

He said:

“That could make them much more viable for scaling up to Visa-level types of activity.”

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