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RE: Crypto Dives AGAIN? Trading and Some Warnings

in #cryptocurrency6 years ago

Neural Networks been invented decades ago, but the required computing resources were not available, and there was no any interesting data to work with. For years Neural Networks was known only to few dedicated researches. In the past five years Neural Networks have become widely adopted, and the number of applications build on Neural Networks (Deep Learning) is growing exponentially. There is still a lot of hype around it, and false statements are being thrown around by journalists, but, nonetheless, almost every car company is working on a of a self driving car that uses Deep Learning one way or another. Bitcoin didn’t necessarily invented anything fundamentally new, but it packaged known technologies into an amazing software. Sometimes the technology has to be re-invented multiple times before it receives the appreciation and adoption.

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It's not to dismiss the innovation, but rather point out that it's a lot less new than people think which has the very important consequence that we already know a lot of its weaknesses. People assume because cryptocurrencies are new, they are entirely untested and hence could be a remarkable solution, but in the end they are often a sum of some very old parts that have been tested for a long-time and we already know the limitations and could easily identify whether or not it will work before even trying.

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