Wisdom of the Crowd
How I Became Part of the Crowd
I’ve been a part of Crowdholding for approximately 6 months. For those of you who don’t know, Crowdholding(CH) is an online platform where businesses, usually start ups, come to get helpful input and feedback from everyday people all over the world in exchange for rewards.(cryptocurrency tokens from their business, as well as CH tokens called YUP. They post a task, setting the criteria. We respond. Sometimes it’s a review of their web page or download and try their app. the requests vary. Other crowdholders vote for which replies they think are the best and you can also comment on other replies. At the expiration of the task, the user is rewarded with the crypto coins.
About a month ago,a company called PYNK.io posted sucha task. The idea seemed pretty simple. Download their app, then each day predict the price of Bitcoin, one day in advance. Yes, what will Bitcoin close at tomorrow? Although I knew nothing about making accurate price predictions-there are no right or wrong answers-it sounded like fun! I started paying more attention to BTC, even read some news on it. I must say, I’m fascinated!
Now, a little a bout PYNK. PYNK is a fintech based in London England. Their motto is “Because none of us are as smart as all of us”. Think about that….it’s so true! PYNK created a proprietary prediction tool- the world’s first- powered by the people, for a smarter investment platform for all involved. It uses a combination of 1. Crowd Wisdom (everyday ordinary people from all over the world). 2. AI (artificial intelligence)- they named her Rose. and 3. in house traders and expert analysts.
* crowd wisdom has been proven to work (you can Google it)
- AI ( remember IBM Watson?) is the way of the future- well it’s here already
- Expert analysts study all of the investment charts to see trends and cycles
This combination makes smarter trading decisions for the benefit of the investors. We all want that, right?
I never thought this was something I could be ‘good at’, but as part of the crowd, all input is helpful to the process. Not only that,as a Pynkster, (users of PYNK), you earn points (wisdom points-WP) by predicting each day and completing other tasks. The more you participate,the more wisdom points you earn. (predicting is limited to once per day).
So, what do we do with all of these points? They can be exchanged for a stake in PYNK trading fund. That’s right! You now have a stake in PYNK just by devoting some time! What could be better than that? (They are currently working on an investment platform where you can also invest money)
My experience so far has been very rewarding. I’ve been predicting BTC price every day. There are days I do well and days don’t. no matter. Rose uses all of the information we provide. When predicting, you can stake a percentage of you WP, based on how confident you fell with that prediction. The app tells you what the crowd average is that day and gives you the chance to change your prediction. The app also has a chart showing how well you did each day, as well as monthly. Of course, it feels better to be closer to #1. I’m happy when I make the top 100. To me, that’s a great accomplishment!
PYNK is working on creating an academy to teach us how to be better predictors. I’m looking forward to seeing how that works. They also are working on other things, including contests to earn more points, implementing predictions for other assets etc. They have a PYNK Tank channel on You Tube where many topics are discussed. You can learn a lot more about PYNK and read their white(er Pynk) paper on their website.
Are you familiar with Telegram? PYNK has a Telegram channel for the Pynk community. It’s a great platform and I’m happy to be part of it. There is a broad range of discussion, i’ts not just about Bitcoin. PYNK is a young company but already making quite a name for themselves Startups come and startups go, but I believe PYNK is here to stay. You can follow them on many social media outlets including Twitter, Facebook, Instagram and Linkdin or click my link https://beta.pynk.io/r/Karen%20M to go directly to their site.
Hope to see you there! Also clap away!!