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

in #blockchain7 years ago (edited)

The subject of A.I is rather controversial, specially how movies like the terminator describes the catastrophy caused by an out-of-control A.I. Personaly though I liked the concept of A.I and I'm looking forward to a future where A.I becomes mainstream. Sure, there will certainly be negative effects of A.I's to society like lost of jobs, A.I going out of control and such. But lets face it,like all things controversial A.I will definitely become mainstream and a part of society - an integral part at that.

The marriage between A.I technology and blockchain technology is happening right now. There are actually some new and not so new platforms that takes advantage of the A.I technology. Steemit with its automated bots is one of them. Though these bots use the simpliest and rudementary A.I they are still A.I. Though there programming is simple they actually have huge effects on the platform - both positive and negative. I'll skip the details of those effects since most steemians are aware of them.

In my opinion A.I technology can be implemented and utilized in almost all industries. Factories and manufacturers have been using the technology even before the blockchain. Thanks to A.I we can make most tedious jobs a lot easier. A.I's can certainly be used in day trading but requires a lot of complicated programming to work properly. Of course humans will always be better at trading but A.I's do have one advantage and is that they will not be affected by emotions. For example they won't go on a panic selling due to fear - unless we program them to do so. Overall A.I's are very useful and I feel very positive in the future of the technology. Anyway, I'll stop here since it's already long enough to an article of its own and I have already written my views about A.I technology and its potentials.

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You make a great point, @riovanes, about AI's ability in day trading to eliminate the emotion from the equation. I first got into day trading in the 80's and peaked in the late 90's in the dotcom boom, where I was just beginning to get wind of trading programs being experimented with. I don't know if you are aware, but most of the markets today are traded by bots and there are some sources that put it upwards of 80 or 85%. Certainly, from Dec. 18th when they launched bitcoin on the CME I've seen signs of bots heavily at work on crypto markets as well. It's kind of funny too, because while I still haven't bothered with tying bots, I gave 2 of my sons some crypto for Christmas and my youngest at only 17 has used bots some to manage to turn about $200 into over $11 grand these last months in this bear market. That still amazes me too that he could make over 5,000 percent in a bear market using bots some. So clearly, I'm a bit tempted to try them out too some and wonder if bots really can do better than humans alone trading in the markets. That alone is a paradigm buster... :)

I'm actually pretty new to trading myself so I'm unaware of the statistics you mentioned. But the numbers surprised me, even if 80 to 85% is an exaggeration it certainly won't be too far off from the truth I guess bots have been used in trading more than we realized. Though if you think about it, it actually makes sense. Traders are still humans afterall and have lives to live so they need something to temporarily take their place when they don't have time to trade themselves, and bots seems like they will be perfect for that. This also proves that using bots for trading is a sound idea, and your son just proves that.

Yeah, I still want to look into exactly what he's doing more. Talking about beginner's luck. :)

I want that luck, lmao.

Yeah, don't we all :)

Hi @riovanes

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

Thanks for the reminder.

I read it quickly and I will have to re-read it calmly before bet time :)
Hell of a great piece of work here.