Why do I making forecast in Cindicator?

in cindicator •  6 days ago

For those who are not aware, Cindicator is a project that to maximize the power of crowd forecasting. Forecasters making prediction base on the questions generated by the system and to be rated according to the prediction accuracy.

Cindicator offers the platform for forecasters to predict both the crypto and traditional market. I will discuss why it is a good idea to start predicting as market analyst using this application and I would only share my insight on the crypto part in this post as I only making investments in this field.

image.png

Snapshot source

cindicator_divider_line.png

Forecasting skill is essential

First of all, I assume all the readers of this post are the crypto-person or at least possessing some fundamental understanding what is cryptocurrency, what is the must-do task for a crypto person on a daily basis?

Checking tokens price.

image.png

Image source

Coinmarketcap.com is the most popular choice that it would become one of the most visited sites not long after participating in the crypto space. It is undeniable there are many more interesting aspects regardless the crypto price itself, like the blockchain variants, implementation of trustless transaction system and how all these ground-breaking technologies are going to change our lives. We can talk about these all day.

But the fact is, we are here because most of us care about the price more than anything else. Especially some real money has been invested in it and making the crypto officially part of the assets. We've heard so much of the earlier Bitcoin success story that we hope this new digital investment asset could be the next best place to quadruple our capital.

We trading and investing in cryptocurrencies so much that we try to grab all the news and information about projects we care for only one purpose, to be profited against the BTC or fiats.

To day traders, they go in the long position in the hope of bullish run and turn to short call in the bear market. To long-term hodlers, short-term price fluctuation doesn't impact much but they still anticipating the right timing to enter or quit the market nonetheless.

In the other words, we constantly forecasting the price trending of coins. So it is safe to conclude that crypto investors practising the habit of an analyst.

cindicator_divider_line.png

Do what you are already doing

image.png

Image source

In the discovery of Cindicator app, I thought this project was tailor-made for people like me. As I already spend most of my spare time observing this highly volatile space, all I have to do to take part in Cindicator is just answering the forecast questions without further studying.

This would not take more than 5 minutes every day. I treat this as a tiny game as any quick mobile games would have taken longer than that. Sometimes it could be on the bus commuting to work, short tea break in the afternoon, or a couple of minutes before the bedtime.

Not to forget that Cindicator is not all about making forecasts on the crypto topic only, but the traditional market occupies up the other half of it. If you are already reading the newspaper and catching up with the world news, you may be able to make a confident prediction on a various social topic like the election outcome of some countries. There are questions for stocks, precious metals like gold and silvers as well. One can only make prediction based on the questions generated by the system while the range is sort of limited at the beginning phase, analyst gets a broader range of question as the system matures.

cindicator_divider_line.png

Forecasters can be rewarded

image.png

Image source

As of now, there is 1.25 BTC worth of prize for the crypto market and $7500 for the traditional market to be won every month. I will talk more about the BTC price as I solely taking part in the crypto market prediction only. Cindicator distributes to the 1.25 BTC every month to all the contributors with positive points propositionally.

Theoretically, every contributor could earn a tiny split of the prize pool with even 1 point. This is the spreadsheet for February 2018 Crypto Market prize list where you can find all the contributors with a positive score. From the spreadsheet, we can tell that in the February round Martin Lawrence was the top winner at rank 1 with 5071 points that he could get away with 0.05787042917 BTC while scrolling down to the bottom where you can see a dozen of participants with the lowest rank of 10953 by 1 points and they still able to get 0.000003734820723 BTC each.

One thing to take note, participants get the rewards in term of ETH with the equivalent amount of BTC. Also, it takes to posses of accumulation of at least 0.02 ETH in the account in order to withdraw it to own ETH wallet.

cindicator_divider_line.png

My result as a casual forecaster in the first month

It was a generous 0.02104335 ETH (roughly 18 USD) for the rank of 103th in the February run which you can verify in the spreadsheet above.

Well, you might say 18 USD might be mediocre to most but it is good enough for merely a bonus. What motivates me the most was the recognization of my prediction skills (or guessing skill you might want to call it haha) to be ranked almost in the top 100 out of 10k predictors.

Out of my surprise, that prize comes in a package that I was entiled to one month of Beginner plan to receive processed event indicators from Cindicator that would require a total possession of 5,000 CND. That would allow me to access the result of crowd intelligence and maybe trade accordingly if I want.

image.png

My Cindicator wallet page

image.png

Snapshot from spreadsheet

I've no finance background nor possess any analytical skills. I make prediction base on my understanding of the crypto market since the day I started to invest 1 year ago. The first month is already a thrilling experience for me.

After all, these rewards were just more than enough for doing something I was already doing and just requires 5 minutes of my time every day which I could just spend away in a few Bejeweled games.

cindicator_divider_line.png

Things can work in bidirection

image.png

Image source

When I first get to know about Cindicator, the first impression is that user is the engine to power up this project. We feed tremendous forecast and prediction for the hybrid intelligence infrastructure to process and finally produce some useful indicators. Analysts then get rewarded base on our accuracy point by the system. Intelligence is exchanged for financial reward under this model.

It is easy to come to a conclusion that Cindicator will not survive if no one ever wanted to participate in it anymore. Only the participants can empower the system in a one-way direction.

It is not true.

When I was making my first forecast about Bitcoin event, I noticed there will be some helpful links beside the question. Those are links providing crucial information like candlestick chart, news and summary which could help the analyst in the decision-making process.

image.png

Snapshot source

I was quite surprised by the thoughtful design and will have a look at some of them sometimes and that's when the magic happens. I actually learn something new every now and then, be it the new insight from communities or some new trading tactics. If it weren't for the helpful links, I would have just completed all the questions and call it a day even if there is some trend I wasn't really sure of.

cindicator_divider_line.png

Prediction's performance tracking tool

image.png

Image source

"Is Bitcoin going to achieve $50,000 mark at the end of 2018?" "Will Etheereum dethrone Bitcoin after implementation of Casper?" "Market is crashing so bad, is the bull getting near?"

We make forecast every day on the market trend and some of us might answer to questions above which can be seen all over the social media. But how to judge the accuracy your calls are for these future events?

You can make all the prediction either in your heart or in front of friends but chances are you will not remember how does your call turn out in the in the said future. Because we would not track something that was made out of instinct or wasn't planned.

To remember a bet, there is no better way than to actually put down the cold hard cash on it. You in the long position for Bitcoin? Buy some Bitcoin. Feeling bearish for gold market? Sell away your gold in the bank. Naturally, you will follow up all the upcoming event to verify all the trades that have been made.

However, this method is not applicable to young, ordinary, and asset-less people like me.

Cindicator offers a whole new opportunity to track what I've predicted without having to put my money at stake. All I have to do is just looking at the Statistic page where the score will tell how accurate I'm in the market predicting overall, and the rank shows how competitive I'm against all the other forecasters.

cindicator_divider_line.png

Competition drives innovation

image.png

Image source

Competitiveness is one of human's natures. That's why we will keep trying to unlock the full three stars each stage in the Angry Bird. We want to top the leaderboard and better than all of our friends even if it was just a game.

Cindicator is designed in a way to push analysts to compete with each other. Although it takes minor effort and no risk to take part, nobody would love to do something for nothing. Nobody wishes to end up in 5084th place and receives prizes equivalent to 24 cents after one month of work.

The design of the ranking system and unique prize distribution model motivates everyone to compete and improve in a fair and open arena. We will not stop polishing our prediction ability and keep looking for the better way in order to improve the result. This will not only granting analysts the sharpness in the extremely volatile trading market but they will have the
edge of a well-informed person for any upcoming events.

cindicator_divider_line.png

A door to world of blockchain

image.png

Image source

Cryptocurrency is booming in 2017, a tremendous amount of new projects blooming in the space of blockchain targetting different niches from payment, ICO, to exchange, and storage. Hot projects in the market are mainly made for the technical developers, business owner but leaving ordinary people behind. You can't just start living off Bitcoin or Litecoin without a great amount of inconvenience and you do not draft smart contract for day-to-day transactions.

Cindicator offers easy access for anyone to hug the ground-breaking blockchain technology. The Analyst can start the prediction as simple as visiting web application or just download mobile application from Google Play Store or Apple Store. These apps are one of the finest crypto-based application I've seen in the market. UI was clean and the operation is sleek.

image.png

Snapshot source

Predicting in the crypto market the is compounding action to immerse one in the sea of cryptocurrencies. The more you learn the better the prediction, the better the prediction one will end up with bigger portion of the prize pool.

This may be the best chance for a complete crypto newbie to score their first crypto token that actually worth something, and that could be as easy as earn one point and grab that 0.00001 ETH.

Cindicator is the best starting point for anyone who wants to experience the beauty of blockchain while risking nothing. It encourages study and rewards the best performers.

cindicator_divider_line.png

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  Trending

Whats great about the crypto market is that some events create very predictable reactions. With time many of us who have been in the market for a couple years can spot the trends :) Ive been trading hard the last few weeks i need a vacation :))

·

Indeed, there are a lot of hint to look for certain event to occur if you are experienced enough on the field.

a good initiative for those who are interested in crypto and traditional market both.a single platform for all your daily investment needs

·

This platform will not invest for you but it is definitely helpful for your investment.

·
·

I admit it

@fr3eze this app will be very helpful, I will go check it out. Thanks!

·

Definitely a must try for any active investors.

This is one to check out for sure, even if you were terrible at making predictions you will still earn. Thanks for bringing this to my attention I will be looking into this today.

I didn't notice a referral code in the article. If you have one please let me know and I will use it.

Thanks.😊

·

Yep, make a random 10 guess I bet you will end u with some positive score if you are not too bad in luck. Then you can go home with tiny split of the prize pool. What is the better deal?

Thanks for the support but I believe Cindicator do not offer referral system. Peace!

Great article. Very informative.
Thank you.
To my understanding the power of this system is more in the aspect of the "Payed program" (in which you need to hold certain amount of CND in order to get the signals from the system).
I believe that the Cindicator predictive models will be vary powerful, because they use machine learning algorithms.
The only problem I have with the cindicator concept, is that they combine the machine learning with human predication. I think that most of the people today do not really know to "predict" well , they are just guessing.
Cindicator tries to answer this issue by adding expert professional traders to their pool of "human predictors", this should help. But if the majority of "human predication" are based on guess of the regular "Joe", and people that got into Crypto market two months ago( they do not know much about trading market), then I do not know If I can trust the system's predication.
Maybe they can add some indication to each predication, regarding the percentage of expert vs regular "human predictors" that effected each single.

·

This is some interesting concept but I think it would violates the purpose of collecting crowd wisdom by trying to separate elite predictor and ordinary*people.

I've heard about cindicator for a while now,but little understanding of it didn't make me take much interest in it. I will give it a go this time and see how good my understanding of crypto is based on the predictions I make. Thanks for sharing

·

I will call this the right attitude to start with. Not aiming for any reward or ranking but justifying own ability. You have nothing to lose with mindset like this.

Nice post. I think CINDICATOR has great potential although it still needs time to mature. Hopefully with time when cryptomarket is less volatile CINDICATOR will be able to make more accurate predictions.

·

Yeah, from the apps itself I can tell they are improving over times.

·
·

People who analyze the market crypto, and make predictions are not bad at this earn!Now I'll go and see what is CINDICATOR.I did not know about him before.

гггьб.jpg

·
·
·

Feel to check it out and I guess you will be glad that you did. The best part is participating in it takes no risk at all.

is there a quick video explaining how it works

·

You may visit their official website or try your luck in youtube. I'm sure there is some.

@fre3ze I'm a huge (CND) Cindicator fan. I was forecasting the last few months but ultimately decided to refocus time on reading through the technology and trying to understand if there was any fundamental value as opposed to trying to catch a fly (predict the price). It was fun though! Are you finding you're able to predict better with traditional or crypto markets?

·

High five there! Yes predicting for the sake of predicting without fundamental understanding is kinda pointless. I predict only in crypto market.

·
·

But don't you think @fre3ze the "wisdom of crowds" starts to take place? I noticed I performed well but at a cost, all that time I sunk into staring at prices. Also, I'm a bit disheartened so many people follow technical analysis articles on Steemit. I'd prefer if we focused on why these projects matter. :) Going to follow you as well.

Hi,

Interesting take. I read your post and got on to cindicator app yesterday. As you rightly mentioned, the questions are quite simple right now and i wonder how focused do the questions get because if its questions like these, then i wonder about the longevity of this project and the investors in it. Cindicator may do well in the short term bevause the idea is great, its getting a sense of market direction by feeding their opinion into a system. However, if the questions remain like what i am.seeing at my level and the people entering them arent a serious proportion of the capital.invested in crypto markets, them i dont know how lomg cindicatir will survive.

Apologies for all the typos.

Great article and very informative, thanks for sharing. I've smashed the upvote button for you!

If you are looking to get hold of some crypto without investing or mining, look into https://www.crowdholding.com. They are a co-creation platform were you get rewarded for giving feedback to crypto startups on the platform. You can earn Crowdholding's token as well as DeepOnion, ITT, Smartcash and many other ERC-20 tokens.

·

Stop smashing that upvote button for me as it worth nothing just so you know, dear spammer.

Thanks good articles a good Project

Your post is very good!

Now look me in the eye and Follow Me @cryptopay-blogYour post is very good

·

I can't stop watching @cryptopay-blog

Love this app, look fwd to the questions everyday!

thanks, useful article, syndicate, a good project in which it is worth investing, I took it to ICO

·
·

CND did well in its ICO. :)

This post, with over $50.00 in bidbot payouts, has received votes from the following:

minnowbooster payout in the amount of $53 STU, $94 USD.

For a total calculated bidbot upvote value of $53 STU, $94 USD before curation, with approx. $13 USD curation being earned by the bidbots.

This information is being presented in the interest of transparency on our platform @fr3eze and is by no means a judgement of your work.