SingularityNet — The Project That May Takeover The World! (AGI)
Hi friends! Welcome to this analysis on my personal favorite alt coin — SingularityNet! So, without further ado, let's get into the chart!
Looking at the daily chart for AGI, you can see that it has been in the process of forming a very nice looking base, on the blue trendline. Price has tested and held the blue trendline support since mid August. Additionally, we can see that the 50 EMA (in orange) was resistive for AGI. But today's candle has pierced above the 50 EMA. As you can see, there have been many violations of the 50 since October. The fact that the 50 is being tested on a more frequent basis, suggests that it could soon fail as resistance, and eventually begin to hold as support. That also ties in nicely with the clear basing pattern that AGI has printed on the chart.
Looking from the high on this Bitfinex chart, you can see that price also broke above falling resistance (black dotted trendline.) So, I think there is a technical reason to believe that AGI is at least temporarily bottoming here. However, to confirm that, we need to see a more substantial breakout above the 50 EMA.
Many of you are probably wondering why I am so excited about SingularityNet. If you follow me on Twitter, I'm sure you know that I'm very interested in the development of artificial intelligence, and the future of AI integration in our society. If you're someone who doesn't pay attention to the advancements of AI, you probably don't put much consideration into how rapidly it could completely transform our world.
To enlighten you, I would like to introduce you all to the concept of the "Technological Singularity." Wikipedia describes it as "the hypothesis that the invention of artificial superintelligence (ASI) will abruptly trigger runaway technological growth, resulting in unfathomable changes to human civilization.
According to this hypothesis, an upgradable intelligent agent (such as a computer running software-based artificial general intelligence) would enter a "runaway reaction" of self-improvement cycles, with each new and more intelligent generation appearing more and more rapidly, causing an intelligence explosion and resulting in a powerful superintelligence that would, qualitatively, far surpass all human intelligence."
SingularityNet is actively working to generate a technological singularity on their blockchain. To do this, they are using the blockchain to link AI systems together. More specifically, their network consists of an increasing number of nodes, each of which contains an artificial intelligence that is capable of performing a specific task. For example, one node may have an AI for photo recognition, and another may have an AI for GPS tracking, while yet another may have an AI for solving complex math problems. This network of AI systems aims to solve one of the greatest problems of present day AI development, which is the issue of allowing AI systems to communicate effectively with one another, and allowing them to function universally in a collective network. SingularityNet has achieved this with a combination of blockchain technology and cloud based computing.
Furthermore, AI developers can build their AI systems on the SingularityNet, further contributing to this growing network of artificial intelligences. On singularityNet, AI systems can also develop other AI systems and add new nodes to the network, which contributes to the idea of generating a technological singularity.
The platform is still in the early stages of development, but it is undoubtedly one of the most interesting AI projects known to man. I'm sure many of you are familiar with the humanoid robot Sophia, who has captured international attention and received Saudi Arabian citizenship. Dr. Ben Goertzel, the CEO and Chief Scientist of SingularityNet, is responsible for creating the OpenCog AI system that Sophia runs on. Dr. Goertzel as been a leading AI researcher since the 1980s. In addition, the team includes a slew of AI scientists, software engineers, blockchain advisers, robotics specialists, and more. SingularityNet was co-founded with Dr. David Hanson of Hanson Robotics, the company responsible for creating Sophia the robot, as well as many other incredibly advanced humanoid robots.
SingularityNet also brings advanced AI systems to everyday people. So, if you have a problem that you need solved, and you want an AI system to help you to solve that problem, you can present it to SingularityNet, where you can essentially hire an AI system with AGI tokens.
Speaking about the tokens themselves, the AI systems will essentially use the tokens as a method of paying one another, for AI services rendered by the SingularityNet. So, the fact that this application is being developed by some of the greatest minds in the field of AI research, with the goal of generating a system that is eventually self modifying and self expanding, is remarkably unique.
The AGI token only has a current market cap of only around $25million. That did put me off a bit, but there are some changes that are in store for future development, including the launch of the Alpha version and Studio. SingularityNet's website describes this as a global AI network that "lets anyone create, share, and monetize AI services at scale."
Given the fact that they are tapping into a market that is potentially worth trillions, with a market cap only around $25 million, I think the growth prospects are quite attractive. So, if you're interested in AI technology and how this company is essentially developing Skynet, they are definitely worth checking out.
Happy New Year Everyone!
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
Looking at the daily chart for AGI, you can see that it has been in the process of forming a very nice looking base, on the blue trendline. Price has tested and held the blue trendline support since mid August. Additionally, we can see that the 50 EMA (in orange) was resistive for AGI. But today's candle has pierced above the 50 EMA. As you can see, there have been many violations of the 50 since October. The fact that the 50 is being tested on a more frequent basis, suggests that it could soon fail as resistance, and eventually begin to hold as support. That also ties in nicely with the clear basing pattern that AGI has printed on the chart.
Looking from the high on this Bitfinex chart, you can see that price also broke above falling resistance (black dotted trendline.) So, I think there is a technical reason to believe that AGI is at least temporarily bottoming here. However, to confirm that, we need to see a more substantial breakout above the 50 EMA.
Many of you are probably wondering why I am so excited about SingularityNet. If you follow me on Twitter, I'm sure you know that I'm very interested in the development of artificial intelligence, and the future of AI integration in our society. If you're someone who doesn't pay attention to the advancements of AI, you probably don't put much consideration into how rapidly it could completely transform our world.
To enlighten you, I would like to introduce you all to the concept of the "Technological Singularity." Wikipedia describes it as "the hypothesis that the invention of artificial superintelligence (ASI) will abruptly trigger runaway technological growth, resulting in unfathomable changes to human civilization.
According to this hypothesis, an upgradable intelligent agent (such as a computer running software-based artificial general intelligence) would enter a "runaway reaction" of self-improvement cycles, with each new and more intelligent generation appearing more and more rapidly, causing an intelligence explosion and resulting in a powerful superintelligence that would, qualitatively, far surpass all human intelligence."
SingularityNet is actively working to generate a technological singularity on their blockchain. To do this, they are using the blockchain to link AI systems together. More specifically, their network consists of an increasing number of nodes, each of which contains an artificial intelligence that is capable of performing a specific task. For example, one node may have an AI for photo recognition, and another may have an AI for GPS tracking, while yet another may have an AI for solving complex math problems. This network of AI systems aims to solve one of the greatest problems of present day AI development, which is the issue of allowing AI systems to communicate effectively with one another, and allowing them to function universally in a collective network. SingularityNet has achieved this with a combination of blockchain technology and cloud based computing.
Furthermore, AI developers can build their AI systems on the SingularityNet, further contributing to this growing network of artificial intelligences. On singularityNet, AI systems can also develop other AI systems and add new nodes to the network, which contributes to the idea of generating a technological singularity.
The platform is still in the early stages of development, but it is undoubtedly one of the most interesting AI projects known to man. I'm sure many of you are familiar with the humanoid robot Sophia, who has captured international attention and received Saudi Arabian citizenship. Dr. Ben Goertzel, the CEO and Chief Scientist of SingularityNet, is responsible for creating the OpenCog AI system that Sophia runs on. Dr. Goertzel as been a leading AI researcher since the 1980s. In addition, the team includes a slew of AI scientists, software engineers, blockchain advisers, robotics specialists, and more. SingularityNet was co-founded with Dr. David Hanson of Hanson Robotics, the company responsible for creating Sophia the robot, as well as many other incredibly advanced humanoid robots.
SingularityNet also brings advanced AI systems to everyday people. So, if you have a problem that you need solved, and you want an AI system to help you to solve that problem, you can present it to SingularityNet, where you can essentially hire an AI system with AGI tokens.
Speaking about the tokens themselves, the AI systems will essentially use the tokens as a method of paying one another, for AI services rendered by the SingularityNet. So, the fact that this application is being developed by some of the greatest minds in the field of AI research, with the goal of generating a system that is eventually self modifying and self expanding, is remarkably unique.
The AGI token only has a current market cap of only around $25million. That did put me off a bit, but there are some changes that are in store for future development, including the launch of the Alpha version and Studio. SingularityNet's website describes this as a global AI network that "lets anyone create, share, and monetize AI services at scale."
Given the fact that they are tapping into a market that is potentially worth trillions, with a market cap only around $25 million, I think the growth prospects are quite attractive. So, if you're interested in AI technology and how this company is essentially developing Skynet, they are definitely worth checking out.
Happy New Year Everyone!
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-