Spent all week accumulating SingularityNET (AGI) tokens!
So two months ago I wrote about SingularityNET's Token Generation Event. I didn't manage to get into the TGE / ICO event, unfortunately. But on the day of token release on the markets with an almost instant 10x valuation, I went on a FUD campaign on Tidex Exchange's trollbox just to get weak hands to sell. It proved to be a tiring process so I bought some around $1.00-$1.80 for the FOMO, and just laddered down my buys from $1.00 and below.
It has since dropped to ~$0.63 and now on its way to ~$0.90, triggering some pending buys. With a total supply of 1 billion coins, SingularityNET is currently enjoying a network value of ~$1 billion dollars, which I think could only go higher in time. Just quite bullish on what looks like a good project.
Why SingularityNET?
Being someone who has been involved in artificial intelligence (computer vision) back in the late 2000s, SingularityNET is certainly looking like a project that's ticking all the check-boxes. Let's first dive into the abstract of the whitepaper:-
The value and power of Artificial Intelligence is growing dramatically every year, and will soon dominate the internet – and the economy as a whole. However, AI tools today are fragmented by a closed development environment; most are developed by one company to perform one task, and there is no way to plug two tools together. SingularityNET aims to become the key protocol for networking AI and machine learning tools to form a coordinated Artificial General Intelligence.
SingularityNET is an open-source protocol and collection of smart contracts for a decentralized market of coordinated AI services. Within this framework, the benefits of AI become a global commons infrastructure for the benefit of all; anyone can access AI tech or become a stakeholder in its development. Anyone can add an AI/machine learning service to SingularityNET for use by the network, and receive network payment
tokens in exchange.SingularityNET is backed by the SingularityNET Foundation, which operates on a belief that the benefits of AI should not be dominated by any small set of powerful institutions, but shared by all. A key goal of SingularityNET is to ensure the technology is benevolent according to human standards, and the network is designed to incentivize and reward beneficial players.
I'm not going into the technicalities, but I would like to lay out, in point-form, some of the reasons why I've been accumulating SingularityNET's AGI tokens:-
Back when I got into Ethereum, I had the rough idea that anyone would be able to deploy economic agents in form of autonomous smart contracts, paying for their own bills and working to bring value to their owners. Well, SingularityNET's decentralized, open market and inter-network for AIs seems to fit that vision perfectly.
The free market for AGIs could accelerate the speed of progress much faster than the history of mankind, unrestrained by physical limitations. Just like human beings, AGI agents could interact and learn from each other in their own economy.
SingularityNET spans both technical and influential communities, including Sophia, the humanoid built by Hanson Robotics. Personally, I think the manifestation of AGI in the form of a humanoid like Sophia could make her an important figure in the world stage as time goes on.
Access into complex AI services in the future. The value of AGI might follow suit as Artificial General Intelligence matures over the years, becoming better problem-solving agents.
AI designers / programmers are incentivised to share their agents on the network.
You might've seen Weiss Ratings giving a maximum of B rating for the likes of Steem, EOS, Ethereum, NEO, and Cardano, in which three of them are at the top of my portfolio. Good validation.. but where are the A ratings? It doesn't really matter, but they might have missed the likes of SingularityNET and Idni Agoras. After studying these projects over the past month, I frankly think they're fundamental game-changers just like Steem.
Skynet.
One thing's for sure, I'll continue buying on the way down if the market decides the tokens are too expensive at the moment. Definitely risky because the project is a huge undertaking, but I'm expecting it to fly like all exponential technologies do once it starts working.
Resources
Website: https://singularitynet.io/
Whitepaper: https://public.singularitynet.io/whitepaper.pdf
AI is definitely something to invest in for the future. I’ll check this one out. I also recently purchased some DBC on KuCoin. Their chart is similar. Huge run up followed by massive correction. Good time to accumulate now and have some patience. Good luck!
First off, pretty much game for any organization willing to let even the humblest of us become stakeholders even if only in small increment. It's mind blowing that we are so close to being "there". I appreciated this because with the generalized worry of "they will take over and harvest our brains", not many focus on the good that could come from this. It's hard to mention but I live in a tiny 1 bedroom far away from my entire family in a new city. The friends I try to make think I'm weird. A robot can stop by any time :(
Hi Kevin. Thanks for this article. Amongst other things I create disruptive publicity to raise awareness about the insanity of the system. I only got into crypto a few years ago and my tech knowledge is sketchy to say the least. So image to rely on others to some extent. So I look for projects that I can get behind from an ethical and ideological point of view as well as good investments. I worry about seeing Sophia as a Saudi Arabian citizen given the questionable ethics of the Saudis. Do you think singularitynet is going to make the world a better place? Will it help the evolution of man? Are the team trustworthy? Is this project going to lend itself to the good or bad use of AI?
It's an open, permissionless platform and anyone gets to contribute and steer the outcome. I think humanoids becoming legal persons (as how smart contracts can be defined as legal tender in Switzerland, I think) is a step forward.
Very interesting and ambitious project with a lot of potential to be sure. But with a $1B market cap, that would already move this into the top 30 range basically right out of the gate.
Is that realistic do you think? Or can you explain why coinmarketcap cannot yet calculate the market cap? Are perhaps not all of the coins available yet? Is 1B the maximum amount that will come into circulation?
Yes 1B total. The project is pretty well networked so I guess it's expected to be in top 100 right away compared to the other coins out there. As for CMC, I think CMC's operator might be atm accumulating AGIs as well hence not displaying the circulating supply and marketcap yet, perhaps lol
Haha well that could explain that perhaps. I guess we'll have to wait and see what the circulating supply looks like then. In the meantime, maybe it's worth a small investment in case it comes through on its goals and goes big.
No prejudice but my first thought of the speaker (Ben Goertzel) in this video was:
Man this guy is high as fuck hahaha
Good post, singularity net sounds interesting.
Honestly I never heard of it before.
Have to take some time for deeper research.
Thanks for this overview!
He's the man with the plan :D
He fathered Sophia with Hanson like for real lol
Ben is probably perma-high. Having spent years in Brazil, we cannot even dream what he ingested. However, the platform is not really his solo project, at least for their pictures and signatures he assembled a larger team than his usual one. Still, I am shocked the platform "came to be", I mean that they went down the ICO road to collect millions. I be debunking!
I was super disappointed to have missed the ICO on this, as was late getting my KYC done and they never processed it in time.
thankfully, was able to pick some up around $0.35 this last week, so still didn't completely miss the boat.
this project has some serious prospect. have a feeling it's gonna get pretty big in the years ahead... :-)
Nice! I picked since 1.50 all the way down. Sucks, but just can't miss it lol
another worth checking out if you haven't heard of it already is Bottos, which seems like a very similar concept - though based out of China, and one of the co-founders is the former CMO of Neo, which hints at some reasonable prospect...
Would prefer people who've been dealing with their problems for decades!
(at least when it comes to AI)
I got in the ICO mate, infact wanted to get in the presale,had a nice personal chat with Ben and couple in the team but unfortunately didnt had 25k in ETH at that time but ICO was super awesome and HODLING for life #a095f
Ah too bad. Still not sure why I didn't get through into the TGE. Now paying a premium..
You could have easily made it through in the presale mate, i guess you knew about it much earlier. I was like really itching to sell my alts to get in for the presale, but yea ...past
I don't mind if this gets dumped to 10 cents when eth/btc decides to make their major moves..
Yea, we could very well see that. Its so scary hodling alts, coz when btc starts its bull everything else will bleed. It has happened many times and its about time i guess.
It is possible that I saw you trolling on Tidex. Saw multiple comments like "sell your AGI, dump ahead" or someting in that lines.
Is Tidex Okay as an exchange, I was tracking the progress of one of the ICO's I was involved, but didn't open an account there. What's your opinon on Tidex?
Oh it's worse than that lol. Don't expect anyone to fall for trollbox comments anyway.. Quite a nice exchange actually. No KYC, withdrew almost instantly :)
Damn, I should have made a registration ! Well, next time I guess. I will definitely look into this project. Thanks for the info.
Would you say this and Agoras are the two most out of this reality moonshot projects?
Yeap.. I haven't moved much into Agoras though since there's no whitepaper yet. Just got some for the fomo first :)
Yes. AGI looks far more promising in actually achieving what it's going for. One of my biggest concern has always been that AI will end up empowering only the rich on the top so I'm glad to see such a movement for making this technology available for everyone. Less stress for me! :) Thank you again, wouldn't had stumbled on this otherwise.
E: Seems like agi/eth is going for a cup and handle in the charts. Get haejin on this, lol.
This is genius. So basically the tokens create a decentralized network which basically creates an open source AGI project that incentivises the development of AI by rewarding developers. It really doesn't get much more interesting than that. This is shooting for the moon more than any other project when you consider the ramifications Generalized Artificial Intelligence. I'm def going to add this to my portfolio. Philosophical question: Do you believe that Artificial General Intelligence will attain consciousness?