People tend to have different opinions when it comes to machine learning. Some have the ideology that machine learning may mark the end of the human race; or a catastrophic end to privacy. Human beings have the idea that machine learning will give rise to superhuman intelligence, but this is not usually the case. On the contrary, it is quite apparent that computers do not have common sense, and there is no way in this world that they can overtake the thinking capacity of human beings.
At times, people believe that machine learning is purely meant for data summarization, but that’s not the case. The reality of the matter is that machine learning tends to predict the future by checking on your history. A good example of future prediction is the type of movies one has watched. In such a situation, the machine will be able to suggest similar films based on your past preferences.
Learning algorithms tend to discover more profound knowledge and not just correlations between events as people tend to assume. According to Pedro Domingos, a mole can be used to explain the rule of learning algorithms. For example, if a mole grows with an irregular shape and color, there is a high possibility that it might have skin cancer.
Another myth is that machine learning does not discover causal relationships but correlations only. Machine learning performs different activities and observes whether the result of the occurrence is due to the other event, or if the outcome means that there is a causal relationship between two different events. A computer can quickly discover the causal relationship by just looking at the past data, without necessarily having to experiment.
Machine learning is also believed to cause hallucinating patterns due to the intense provision of data. However, this is not the case as machine learning experts tend to keep this information at minimum levels. This is achieved by gathering more information which has the same set of attributes.
Many are the times when people assume machine learning ignores preexisting knowledge. In actual sense learning, algorithms use data to refine a pre existing body of knowledge, which is detailed as long as it is fed in a computer in simple terms. Lastly, the idea that machine learning cannot predict hidden events that have occurred previously is purely a misconception. Machine learning predicts rare events with high accuracy through comparison.
In the past few decades, there has been a growing interest in cryptocurrency. As cryptocurrencies like Bitcoin become a popular way of making transactions and investments, the lack of government regulations is becoming clear. Most governments are still catching up on bitcoin, so regulations are being frequently updated. Right now, there is no international standard on how to deal with cryptocurrencies. This guide explains how they are treated in various locations.
China has a fairly harsh outlook on cryptocurrency. It is not considered to be legal tender, and no exchanges are allowed. This makes cryptocurrency trading illegal, and the government plans to crack down on private trading organizations.
Due to European Union regulations, no member state in the EU is capable of creating its own currency. This means that the likelihood of cryptocurrency becoming legal tender is fairly low at the time. However, cryptocurrency exchanges are allowed in most member states of the EU.
Half of all bitcoins are traded in Japan. This nation is a big market for bitcoin because it is a legal tender. As long as exchanges are registered through the Japanese Financial Services Agency and carried out through licensed companies, bitcoin is seen as a legal form of money. Since bitcoin is regulated heavily here, it is seen as a fairly reliable place to get involved with cryptocurrency markets.
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Ethereum, often thought of as Bitcoin’s little brother, has surged at an incredible pace since the start of 2017. On March 13, 2018, Ethereum traded at $696.00. Though this may be substantially lower than Bitcoin’s March 13th price of $9,272, Ethereum’s rise over the past 14 months has been much greater. At the start of 2017, Ethereum’s price was about $8. Turning an $8 investment into nearly $700 in 14 months may sound like a speculator’s pipe dream, but it happened. With returns like that, it’s no wonder so many initial coin offerings (ICOs) are coming onto the market.
Ethereum has had some difficulties, including a bug in the popular Ethereum wallet Parity, as indicated by Sean Schroeder in a writing on Mashable, Ethereum may also be a candidate for its own derivatives market. Bitcoin derivative trading opened late in 2017, driving a major surge in Bitcoin pricing.
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Bitcoin is probably the hottest topic in the world of finance and investments, especially since its meteoric rise in 2017. The question, however, appears to be whether or not this rise is indicative of true value. More and more people are justifying the investments in these Bitcoin and other cryptocurrencies as they claim they are an effective hedge due to the instability of fiat currencies. While it is true that a fiat money system has its weakness, it is the very reason why investors turn to assets such as gold as it provides a safety net for currency depreciation. Now, while Bitcoin and other cryptocurrencies have been widely successful, especially in recent years, it is very unlikely that they will be able to replace gold as the premier financial investment. Here are some of the reasons why cryptocurrencies will not replace gold.
Gold Will Always Have an Accessible Liquid Market
Gold has always been and likely will always be one of the most liquid assets in existence. You can easily convert it into cash immediately, and national borders do not hold it down. So, no matter where you travel, gold is gold, and you can exchange it for whatever the local currency is. However, when it comes to cryptocurrencies, things are much different. Yes, more and more countries abroad are beginning to accept Bitcoin and company, (Japan, in particular) it is still a long way ahead of mainstream acceptance.
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2009 saw the first development of a cryptocurrency (Bitcoin), and since then the world of digital currency has never looked back. Cryptocurrencies differ from traditional currencies comes in the sense that they have no centralized authority. So, with traditional currencies, there are banks and other financial institutions that handle the recording of transactions. However, cryptocurrency transactions occur directly between the parties. Cryptocurrencies also have their own a digital ledger called the blockchain which records all these transactions. There are currently over 1300 cryptocurrencies available right now, so it can be very difficult determining which ones to invest in. Here are some of the best cryptocurrencies to take a look at:
Bitcoin is the current leader in the world of cryptocurrency. They use a blockchain that currently is strictly for peer-to-peer financial transactions which may change in the future. 2017 was a groundbreaking year for Bitcoin. Its value was at $900 at the start of the year, and it rapidly grew to $6,300 by October. Since then, it has even surpassed the $10,000 mark and is in a healthy direction to continue its growth in 2018.
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2017 was a huge year for Bitcoin. Starting off in January valued at $778, it rose to record highs of more than $12,000 by mid-December. As we look ahead to 2018, there are many developments with the cryptocurrency that are worth paying attention, and not all of them involve it’s rising price. Obviously, Bitcoin’s price is set to increase as the year progresses. Kay Van-Petersen, who is an analyst at Saxo Bank, accurately predicted Bitcoin’s rise in 2017 and currently predicts that it could hit $100,000 this year. However, she also predicts that Ethereum could outperform Bitcoin in 2018. He said, “Ethereum came after Bitcoin, it has a more unified leadership than Bitcoin. They seem to be a bit further along the way in regards to forming the solution to scaling issues. And you can see transactions on their side eclipses transactions across other cryptos.” So, due to Ethereum having a core group of developers who control how the technology grows, experts believe that it will give it longevity and certainty which hasn’t been said the same regarding Bitcoin.
Another development in 2018 for Bitcoin comes in the possibility of mass public awareness for it and cryptocurrency in general.
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At this point, everyone is well aware of Bitcoin. However, it can be tough to distinguish Bitcoin from the blockchain technology which is where Bitcoin transactions take place. So then the question is: what is blockchain technology? It is a term that people throw around when discussing Bitcoin and other cryptocurrencies, but most are unaware of what it actually is. The blockchain is an ingenious invention, created by a person or group of people know by the pseudonym of Satoshi Nakamoto. You can think of it as a new type of internet. Intended initially for Bitcoin, the tech community has found other uses for the technology.
An easy way to understand the blockchain technology is by imagining a spreadsheet duplicated thousands of times across a network of computers. The design of this system is to update the spreadsheet regularly, and that is a basic understanding of the blockchain. Basically, information held on a blockchain lives as a shared and regularly balanced database. It is not stored in a single location, so the records kept are public and easily verifiable. There is no centralized version of the information, so it is secure from hackers. Now if one would define the blockchain, you could say that it is a “technology that offers a way for untrusted parties to reach a consensus on a common digital history. A common digital history is important because digital assets and transactions are in theory easily faked or duplicated. Blockchain technology solves this problem without using a trusted intermediary.
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