Bitcoin is Booming - What is your favorite cryptocurrency? - #2 numeraire

NUMERAIRE

Numeraire (NMR) is a cryptocurrency backs Numerai, a hedgefund in san francisco that crowdsources data from artificial intelligence. This data is used to make investment decisions on stocks. Numeraire (NMR) holders can stake their NMR tokens. NMR is build on the ethereum blockchain, in accordance with the ERC-20 standards for tokens. Numerai used to pay their users through paypal, they later switched to bitcoin, and in 2017, they built their own token.
Numeraire has undergone some changes since it was introduced. It initially had a maximum supply of 21 million, the same as Bitcoin beforebit was stripped to 11 million. No ICO was launched at any point in time. 1 million NMR tokens were airdropped to Numerai’s active users, which was around 12 000 at thw time of the airdrop.

Stats on NMR
(all statistics are accurate at the time of the post)

Having a market cap of $166,676,679 and a circulating supply of 4,440,191 NMR, numeraire is currently valued at $37.65, and is ranked at #76 based on market cap.
It has a maximum supply of 10,974,705 NMR
It has an all time high of $99.79 and an all time low of $1.93
Numeraire is enjoying the crypto boom and has grown over 40% over the past few weeks.

Stats from coinmarketcap.com

What Makes Numeraire Worth It?

1. Its backed by a reliable company, well versed in the financial markets and sourcing for information from artificial intelligence on the markets

2. Staking and earning rewards

3. Used on the Numerai platform to buy and sell data

4. It has had a really impressive run compared to other coins

5. Engaging in weekly competiotions and earning numeraire

Where Can I get Numeraire?
Crypto trading, Numeraire is traded most on Bilaxy and Bittrex. Combined, they account for about USD$1.4 million of its USD$2 million daily trading volume (at the time of writing). Almost 50% of Numeraire trading is tajes place on Bilaxy, making it the most prominent platform for trading numeraire. Although it nkt as popular as Bittrex (maybe they don't have an awesome PR like me😉), Bilaxy is a trustworthy exchange.

As we can see very clearly there is real volume being traded and liquidity is encouraging. This means you should have no issues trading on either of these platforms.

Asides winning the Numerai data science tournaments, to get Numeraire younhave to buy it from an exchange or peer (and remember you need some NMR to stake to enter the tournament).

NMR’s price potential
Numeraire’s price performance has been quite impressive compared to most other cryptocurrencies. However, the fact that it didn’t rise substantially in accordance with the 2017/2018 bull run suggests that it may not be an asset which will 10x any time soon.

Since NMR is burned every time a data scientist loses a tournament on Numerai or when someone submits faulty information on Erasure’s marketplace, this means that NMR’s total supply will gradually decrease.

While this gradual reduction in supply suggests a gradual increase in price over time (assuming demand for NMR stays the same or increases), it presents a second issue which could be the downfall of both Numerai and the Erasure ecosystem. This is because the moment the last NMR token is burned, there will no longer be a way for data scientists or information hunters to stake their submissions or receive payouts on either platform.

It seems that the likelihood this will happen anytime soon is quite slim and given that the amount of NMR received or offered is expressed in USD$, this means that both Numerai and Erasure have quite a lifetime ahead of them.

They will at least exist until May of 2028, which is when the mega data science tournament is set to conclude on Numerai. The 3 million tokens which are won will likely be sold, introducing a fresh supply of NMR to markets via exchanges for others to purchase and use to be staked in both Numerai and Erasure.
From https://www.coinbureau.com/review/numerai-nmr/

My Opinion and Stake
Coming across this through the teeka tiwari list, I bought and am still holding 15 NMR. I believe this is a special project because the world revolves around data today and this coin based on data. That being said, I will hold and wait for the $100 mark before taking any further action.

      ****THIS POST IS POWERED UP 100%****

CC;

@steemitblog
@steemcurator01
@steemcurator02