Tag: Bitcoin

7,500 Faceless Coders Paid In Bitcoin Built A Hedge Fund’s Brain

Richard Craib is a 29-year-old South African who runs a hedge fund in San Francisco. Or rather, he doesn’t run it. He leaves that to an artificially intelligent system built by several thousand data scientists whose names he doesn’t know. Under the banner of a startup called Numerai, Craib and his team have built technology that masks the fund’s trading data before sharing it with a vast community of anonymous data scientists. Using a method similar to homomorphic encryption, this tech works to ensure that the scientists can’t see the details of the company’s proprietary trades, but also organizes the data so that these scientists can build machine learning models that analyze it and, in theory, learn better ways of trading financial securities.

Full article on Wired

Bitcoin Exchange Ordered to Give IRS Years of Data on Millions of Users

On Wednesday, a federal judge authorized a summons requiring Coinbase, America’s largest Bitcoin service, to provide the IRS with the records of every user who traded on the site between 2014 and 2015. Covering the identities and transaction histories of millions of costumers, the request is believed to be the largest single attempt to identify tax evaders using virtual currency to date.

Read more on Gizmodo