Investment Board Candidate - Professor Steven Abel

Candidates for election to the AICoin Investment Board
PrincessBitcoin
Posts: 18
Joined: Fri Jan 12, 2018 2:39 pm

Investment Board Candidate - Professor Steven Abel

Post by PrincessBitcoin » Sat Jan 13, 2018 2:00 pm

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My professional experience is in Academia. I am a Professor in the Maths Department of Durham University. My research is in aspects of theoretical physics and string theory, and I have worked with genetic algorithms extensively in that context. In fact, this is where I developed my love of artificial intelligence, and in particular the Genetic Algorithm approach to problem solving. As well as academic research, I have supervised GA projects that developed route-planners, optimised aerofoils, solved Rubik’s cubes and visualised changes in gene expression during ageing.
In Durham we also host a machine learning Student Training Centre (with 12 or so post-graduate students) focussed on LHC event detection, and we are in the process of acquiring a cluster of deep learning machines.

Despite a major part of my work being in theoretical physics, a significant number of my project students have ended up in the city, for example in BZW, Citibank and Commerzbank — as such I have always kept half an eye on the possibility for machine learning techniques in the area of finance, and in fact I was considering getting my project students to attempt something similar to AICoin before I came across AICoin!!

I therefore think I could make a valuable contribution to the collective in assessing technical and financial viability of projects. For example if there were projects with some element of machine learning. Indeed I am called on fairly regularly to review the fundability and feasibility of projects in the academic context. I think this skill would be transferable to the investment board. As an indicator of my potential contribution, I have been involved in cryptocurrency since 2012 when I first realised BTC was going to be "the next big thing” (they cost me 20$ per each since you ask). By identifying worthwhile projects (and identifying when they are undervalued) I have increased my original BTC holding by a factor of 5. (Of course I measure my holdings in BTC - anyone could have made a profit measured in dollars!!).

If you wish to judge me by my portfolio, I currently hold a lot of Status and Syscoin, and a bit less of BTC, TenX, Monaco, ETH, Dcorp and of course some XAI. I had a lot of Blocknet but sold it all after its big rise. (To be honest I think they will eventually be overtaken by other DEX players). I feel that NEO, Cardano,and IOTA are great projects but somehow the price was never right for me to buy. I would be interested in BelugaPay but I think they are overpricing their tokens. (I may try to pick some up if it takes a dive after the ICO.)

I think the cryptocurrency space will be another less than the next stage in human development. The move from government issued tokens, whose value is backed by coercion, to ones that are based on the intrinsic value of the
underlying business is a massive step. It allows essentially frictionless investment, funding, trading and growth. Now I really feel it is time to be an active player and put something back.

stewart_mcgregor_76
Posts: 9
Joined: Sat Jan 13, 2018 5:41 pm

Re: Investment Board Candidate - Professor Steven Abel

Post by stewart_mcgregor_76 » Sat Jan 13, 2018 5:52 pm

Hi Steven, thanks for submitting your application to the collective. Would you mind letting us know your Slack channel handle? Thanks Stu

holyprofit
Posts: 5
Joined: Sat Jan 13, 2018 10:07 pm

Re: Investment Board Candidate - Professor Steven Abel

Post by holyprofit » Sat Jan 13, 2018 10:10 pm

Hi

yes it's holycow. (Well I've got to call myself something)

Steve

henryroncancio
Posts: 3
Joined: Sun Jan 14, 2018 1:46 pm

Re: Investment Board Candidate - Professor Steven Abel

Post by henryroncancio » Sun Jan 14, 2018 2:08 pm

Hi Steven, nice to see your experience and academic background in AICOIN.

As you have knowledge in AI I wonder if you have any idea to make the "wisdom of the crowd" a data set to predict on best investments for the company. I bet inside AICOIN there are a lot of people with a wide knowledge in technology and finance so I see it worth it to organize all this knowledge in a data set in order to use our AI algorithms to predict on future investments. For example, let say we ask people to describe their successful investments, such as why it was successful and why they chose to invest in it and define a few features about any investment, for potential investments we could find out these features and then use our AI algorithms to predict whether these potential investments could be a good or a bad investments.

CRY[TORICH
Posts: 1
Joined: Sun Jan 14, 2018 3:28 pm

Re: Investment Board Candidate - Professor Steven Abel

Post by CRY[TORICH » Sun Jan 14, 2018 3:39 pm

Hello Professor. It seems you have your hands full at this time. Will your current projects prohibit you from dedicating the time needed to be part of the Investment Board? Thank you for your interest. Paul

holyprofit
Posts: 5
Joined: Sat Jan 13, 2018 10:07 pm

Re: Investment Board Candidate - Professor Steven Abel

Post by holyprofit » Tue Jan 16, 2018 9:32 am

Hi Henry,

that's an interesting idea. Actually I spent Sunday thinking about it. I'm not sure how one could automate that. But certainly it has occurred to me that we probably all have come across different strategies. (On that has worked for me - find something you like the look of. Like an ICO -e.g. Status was really interesting to me. Wait for the price to be driven down by fud or lack of interest. Eventually you get a kind of bowl shaped graph where it is scraping along the bottom at very low volume. No buyers but no sellers either. This seems to be a point where you can't lose.) If there were a version of WM that could incorporate this across the whole crypto sphere. The problem is who judges the success of previous attempts. WM does this with its GA automatically. I could imagine having a much loser kind of "opportunity seeking" GA.

holyprofit
Posts: 5
Joined: Sat Jan 13, 2018 10:07 pm

Re: Investment Board Candidate - Professor Steven Abel

Post by holyprofit » Tue Jan 16, 2018 9:45 am

Hi CRY[TORICH
yes sorry for the "Professor" - blame Marcie! You can call me Steve. Well the reason I put my name forward is that find that I already spend an unhealthy amount of time researching crypto related things!! But it feels kind of passive - I may as well spend the same time productively and healthily.

To explain my commitments, there are some crunch times in the year (such as exam time) when I have literally zero hours. Typically there are 2 or three of these in the year but they last only a couple of weeks. Then there are term times October - December and Jan - March. Here I am (including my research) basically occupied like a normal working day. Outside these periods I am only doing research. So I have a lot of time to spend as I want. For example we are growing a deep learning centre here. Step 1 will be for me to buy a trial machine and learn machine learning (as opposed to Genetic Algorithms which I have a lot of experience with). We actually have 12 students here already so don't ask me what hardware they are using! Then I will test out some projects I have in mind, possibly involve some students. Anyway the point is there is a significant overlap with what I might naturally be thinking about anyway. Certainly in the Maths department I would be very happy to run machine learning projects with undergraduates, which can be related.

holyprofit
Posts: 5
Joined: Sat Jan 13, 2018 10:07 pm

Re: Investment Board Candidate - Professor Steven Abel

Post by holyprofit » Tue Jan 16, 2018 11:09 am

Hi both. I posted two replies but I did it as new messages so I think they are under review. I guess Marcie will figure it out!

In the meantime the short answers are - yes I have also wondered about this- it is a very interesting idea to explore! It may not even require much extra resource. And - I already spend a lot of time on analysing the cryptosphere. It would be much nicer if this effort could be directed at developing something useful and in the "early stages".

jonothan
Posts: 6
Joined: Thu Jan 18, 2018 12:20 pm

Re: Investment Board Candidate - Professor Steven Abel

Post by jonothan » Thu Jan 18, 2018 12:30 pm

A devils advocate question to all Board applicants. QU. Can you give me an example of a failure (business, investment or personal), what was the failure and how will or how does this experience make you the right candidate to vote for? Cheers Jonothan

holyprofit
Posts: 5
Joined: Sat Jan 13, 2018 10:07 pm

Re: Investment Board Candidate - Professor Steven Abel

Post by holyprofit » Sat Jan 20, 2018 1:13 pm

Hi Jonathan,

ouch! Nice one!! Here's a list ...

In business, about 10 years ago I "lost" my 7.5% share in a private company when it went into liquidation on Friday only to reappear on Monday under new ownership with different shareholders. They call this manoeuvre a phoenix company. (I won't name the company). I'd say this wasn't really active failure, but failure to keep an eye on wtf the other shareholders/directors were doing. It was probably illegal but I doubt I can get any redress.

In crypto, my main failures were at the beginning (in 2012-14) when of course you get excited at every new thing that comes along, and burned by pumps and dumps and market manipulation. There were a few of these. One big one was XCurrency. I put about 5BTC into it. The team are the same ones that are now behind Blocknet which on the other hand I did very well on. However they forgot all about XC (to the point that now it is about to stop trading) I decided to bail out at a loss (my 5BTC had by then turned into 1BTC - although still did better than dollars obviously!). I also spent a long time investigating technical analysis, eventually concluding that it's just a good way to figure out what just happened.

So those are my main failures. Finally about 2014-15 I had a kind of epiphany and realised how dumb I had been. You really just need to find a good project, a good team, raising sufficient resources, and a good business model. (Actually Blocknet also ticks these boxes, so given that the same team was responsible for XCurrency, I'd say this is necessary but not sufficient. But anyway 9 times out of 10 it will work.) Then find a good entry point and just wait for them to do what they say they want to do. So at this point I think I was really starting to do venture capital, rather than speculation on crypto fluctuations. It's the difference between gambling and investing. And you can sleep at night, knowing that your money is with a team you trust.

At about the same time I figured out the real meaning of money and why crypto is a genuine revolution. Essentially it makes share issuance and even bank-lending redundant - venture capital is made completely seamless. And when naysayers poke fun at BTC, because any asshole can now invent their own currency, it makes me laugh because that is of course the whole point!! Any good business at some point needs to raise capital. If they can create a currency to do that, then the currency is directly backed by the business. Instead of the usual merry-go-round where currency is "backed by the sum of all the goods and services in the economy" or some such nonsense that essentially equates to the ability of the government to extract money from the population by coercion, it is backed by genuine value. In fact one thing that I am now interested in the gap for businesses that can ease this transition. Hence my interest in the venture capital aspect of XAI, and also my interest in DCORP.

Anyway that's my rather lengthy response. (Obviously a good question.) I now consider myself to be fairly battle hardened, and risk aware. I use "risk aware" rather than "risk averse" because of course you always have to accept some risk to get good returns, but the issue is to minimise risk by knowing every detail of what you are putting your money into. This is why XAI was immediately interesting to me. Of all the projects I have seen it is the one with least risk. In BTC terms we are now at 0.65 of the initial. But how much less risk have we endured?? I would say MASSIVELY less risk than leaving it in BTC. If I had to then consider for example BTC versus XAI, as competing projects, I would say that the XAI model is a far more attractive model for investment. While BTC has far more history and a larger team, XAI has a better model for supporting the currency, and already has a proven (>12 month) record of growth that most venture capital companies would kill for.

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