In any speculative market there will always be experts who claim they know how the market will eventually go; men who go from no names to billionaires thanks to their predictions. In recent years, the trend has been to hire MIT graduates in order to help use analytics to predict the market. Now, there is a cryptocurrency platform that plans to change the fiat asset and crypto markets by decentralizing the whole market prediction business; that coin is Cindicator.
The name Cindicator is a mashup of two words: crowd indicator. The concept underlying this is the idea of the “wisdom of the crowd,” a reference to how collective wisdom shapes businesses, economies, societies, and nations. The basic premise is that a group of people is more likely to have the right answer than a single individual through sheer statistical probability. Therefore, crowd indicator, Cindicator, is an indicator of the collective intelligence within a crowd. While mob rule or true democracy is generally not the most efficient system, the crowd in this sense is not as chaotic or impulsive as the general masses, much in part to the fact that the Cindicator crowd is comprised of financial analysts and forecasters from all over the world. Their conclusions, therefore, represent more of a broad-based consensus than anything.
Founded in 2015, by Mike Brusov (Co-Founder and CEO), Yuri Lobyntsev (Co-Founder and CTO), and Artem Baranov (Co-Founder and COO), Cindicator is a trading platform that delivers market predictions through a combination of AI trading robots and forecasts by a diverse pool of market analysts. The stated goal of the company was to create algorithms and trading robots, which can be utilized by investors and hedge managers. A fintech company, Cindicator provides a combination of technological and social infrastructure that is required for proper investment decision-making, whether in traditional financial markets or crypto markets, especially in the more uncertain and volatile markets. According to Mike Brusov, “Cindicator’s ultimate goal is to set up a decentralized intellectual technology that effectively implements the potential of Hybrid Intelligence for the benefit of all participants of the ecosystem. In the future, the technology strives to be fully automated; the only resource necessary for it to function will be the mental investment of sorts by the analysts.”
In order to pursue this goal, in August, Cindicator raised $500,000 in seed funding. They followed up this initial round of funding with their ICO’d the following month. The total supply of Cindicator coins 2,000,000,000 and the ICO pumped 1,445,000,000 into circulation. The Cindicator coin’s initial value was 1¢, and it saw some serious price action, breaking into the top 100 coins and rising as high as high as 30¢ in January. The coin’s value currently rests at 10¢ per Cindicator coin with a total market cap of $141.5 million. Although they are based in New York, they are unable to sell tokens to citizens or permanent residents of the U.S. and China. This includes Puerto Rico, the U.S. Virgin Islands and any other lands owned by China or the United States.
How Cindicator Works
Cindicator is first and foremost a mobile app that depends on its users. Within the app, Cindicator creates a field of questions for users to answer. Investors and forecasters make daily predictions answer a series of specific questions regarding macroeconomic indexes, price levels of financial assets, future ICO’s and potential market influencing events. Post-deadline, “the artificial intelligence system synthesizes accurate forecasts using machine learning algorithms based on the accumulated statistics predicted by forecasters. Machine learning models dynamically calculate various weights for each forecaster, identify stable systematics in their errors and calculate corrections for the errors, eliminate noise, and generate final predictions and trading signals.”
Users who make correct predictions are rewarded with CND points. The top forecasters each month receive a Bitcoin as a reward. These CND points and potential for BTC incentivize more analysts to join in the conversation and encourages them to aim for accuracy.
The Cindicator Coin
The Cindicator Coin (CND) is more precisely a Cindicator token. Generally all cryptos are referred to as coins, although they might not satisfy the strict definitions of what a crypto coin is. In this case, a token denotes an asset or utility that is a part of an already existent blockchain. They represent an asset that is both fungible and tradable from coins to commodities. In this case, Cindicator tokens are distributed along the Ethereum blockchain in accordance to an ERC-20 smart contract. These tokens are created and released to the public through that 2015 ICO initial coin offering. This public offering of Cindicator coins creates an internal economy within the Cindicator ecosystem between forecasters, traders, investors, analysts and the Cindicator team. It is not a proof-of-work blockchain like Bitcoin, so there is no mining that will produce additional tokens.
Which products can I access as a Token holder?
By purchasing CND tokens, investors get special access to Cindicator’s Hybrid Intelligence infrastructure, which is continuously updated and improved. Your access is dependent upon the total of CND tokens in your possession, ranging from beginner to expert level of access.
Levels of Access
The Cindicator Bot indicators you will receive information is dependent upon which level of access you purchase. It should be noted that Cryptometer Bot is only currently available for expert tier members. If you wish to see what comes with each one, check Cindicator’s website here: https://Cindicator.com/Cindicator-bot
- Beginner – 5k CND
- Explorer – 30k CND
- Trader – 200k CND
- Expert – 700k CND
According to Cindicator, “If we were asked to describe the product in one sentence, we would say: Cindicator combines the data from our analysts’ forecasts, processes it through several layers of ML algorithms, and delivers notifications with indicators via Telegram bot.” As of today, Cindicator utilizes nine different indicators in order to aid their prediction’s accuracy.
- Community Choice Indicators – On a weekly basis, the community votes for one of the crypto assets from our list. The following week, forecasters are asked about the winning asset and send the corresponding indicator back.
- Market Events Probability Indicator – for crypto financial market which are not included in other categories (politics, market capitalization, exchanges listing).
- Weekly Support and Resistance Levels – for crypto financial market (BTC, ETH, XRP).
- ICO Ranking – a ranking system of new or hot ICOs.
- Price Level Indicators –for crypto assets (BTC, ETH and most other liquid coins and tokens): whether the price reaches the certain level due by a certain date or not.
- Market Event Probability Indicators – for traditional financial markets, which are not included in other categories (politics: elections, exits; macroeconomics: ADP Employment, Nonfarm payrolls, and Unemployment rate).
- Binary EPS Indicators – Whether a company beats Wall Street earnings estimates
- Weekly support and resistance levels – for traditional financial markets (E-mini Futures, Crude Oil Futures).
- Price level indicators – for traditional markets assets (most popular fiat currencies, futures, and stocks): whether the price reaches the certain level due by a certain date or not
The Cryptometer Bot 2.0 was created to measure prices throughout multiple exchanges and to use this information to predict and detect early signs of volatility within the cryptocurrency market. By providing you with real-time price movements on selected crypto assets, traders find arbitrage opportunities each and every day.
Why does Cindicator Coin matter?
- A working product – The vast majority of cryptos on the market have yet to be market tested and have gained their status due to the hype, which is why some worry about a crypto bubble. Cinddicator is one of the few coins on the market that have a working product, thus giving it inherent value and more stable trading floor.
- Efficient market hypothesis theory predictions – Smart, active investors or forecasters function off EFM theory. That theory states that it is impossible for investors to “beat the market” because stock market efficiencycauses existing share prices to always incorporate and reflect all relevant information. By utilizing this theory, Cindicator gathers information from as vast a pool as possible without manipulation. Because of this, Cindicator’s predictions are regularly accurate since they are founded upon market information at all hours. This accuracy of information grants a hint of certainty and prevents you from missteps due to bad information or analysis.
- Elimination of market manipulation – There are a variety of predictive tools available to the public. However, they are controlled by a relatively limited group of individuals and are thus more open to market manipulation. With Cindicator’s crowdsourcing, this market forecasting is done in a decentralized way, free from the never-ending manipulation that occurs in financial markets.
How does the algorithm filter good and bad information?
According to Cindicator, people contain two different types of information at any given time; first, useful signal, second unique chaotic noise. Cindicator seeks to cut through the chaotic noise by aggregating opinion from a wide range of candidates, each with unique skillsets, experience, and backgrounds. “After we combine lots of such different suggestions, we have useful signal amplification, and noises mutually cancel each other as they are unique and random. When people don’t discuss the problem before making a suggestion they are unlikely to include alien biases into suggestions and keep the uniqueness of their subjectivity – their personal noise, so the sum of noises will go to zero, and the signal becomes accurate.”
The Team’s Current Goals
Because of the success of Cindicator’s roadmap in the four months since ICO, an additional 9,500 analysts have joined the Cindicator platform. Supplementing the ranks in excess of 30,000 members. With a 40% increase in forecasts made and a 10% increase in forecasts per user. As the community continues to grow, so too does the algorithm and the crowdsourcing capabilities.
The Cindicator teams plan for the foreseeable future is two-fold: first, increase the crypto communities awareness of the Cindicator platform, thus increasing the total number of professional financial market participants; second, exponential crowdsourcing user base growth, especially amongst foreign countries.
Steps to improve their platform include:
- Monthly updates to the platform, introducing an array of new features, taking user feedback and improving platform interaction quality, as well as, the functions stability.
- Adding and training analysts by creating an internal program meant to augment forecasting skills and build market knowledge.
- Partnering with other organizations and institutional reps.
- Creating a non-financial incentive system for analysts in addition to the financial incentive system currently in place. Upgrading this system will, in turn, improve the quality of market analysis.
- Launching the Hybrid Intelligence portfolio, which will create a dynamic prize fund.
To begin, you must create a Cindicator account. This can be done organically by manually filling out all the required info, or you can do so via Facebook or Twitter logins. To participate in the Cindicator coin economy, you will need to use Ethereum. If you do not currently have Ethereum, then you must first set up an Ethereum wallet that is compatible with ERC20 tokens. Once the wallet is set up, you can purchase Ethereum through a coin exchange such as Coinbase or Coinmama. Note* Upon buying, do not send Ethereum directly from that cryptocurrency exchange, rather, store it in your Ethereum compatible wallet.
Cindicator affords clients an exciting crypto investment with a token that already has a functional product backing it. Their strategy to decentralize the economic forecast market is an exciting and promising idea for investors and analysts alike. Many market experts anticipate rapid growth on the Cindicator front, which in turn will improve the product and increase the value of the Cindicator coin. If you are looking for an exciting time to jump in on a hot new coin, now’s the time.