Topic: Is there a market for crypto based client side data mining (Read 147 times)

Isn't that how forumslike these work? To impart knowledge from one person to another? There's no need or if there's any, it's pretty unnoticeable so I don't see a pointin making a client side data mining program when we can just do things the same way we've been doing it for the past few decades. And you can be sure of yourself nobody's taking advantage of the lack of security because it's as secure as it can be!

Surely yes, if our personal information has no value, why do bounty campaigns always ask for KYC to get their reward and then scam?
Our information has always been valuable in a certain area, and it's illegal to trade and sell it, so it is not easy for us to recognize services in centralized markets.
I believe there will be an underground marketplace and our personal information can be sold for a very high price. The cases of hackers captured are all due to selling information of users, worth millions of dollars!

Technically speaking it is already a thing, and not huge just yet but it is definitely a thing in a small portion. Obviously it is not in the sense that they are doing it alone, but data mining for crypto users has been a thing for example, like let's say you make a crypto related news website and you get these people who would ready our articles and you sell that information to google in exchange of google adsense money.

Now obviously this is just a small example and nothing big but it is still a thing and I still think it is quite important to realize data mining of crypto people is something that could make money for everyone involved. In crypto world you could make people get paid for giving their data, look at brave browser and what they are doing for example and you have your answer.

You are very right, but it remain one you have not mentioned, the information collected can be leaked to hackers, having valuable information to steal money from banks, stealing bitcoin and other cryptocurrencies from wallets. These data collection of a thing is turning the world towards stealing and privacy depriving.

I do not think this question is clear, but did you mean is there a way this data can be accessed using decentralized means?

Have you heard about internet 3.0 before, this will be the next internet age the world will move towards and into, the internet will be robust and decentralized in a way mining will be used, people can use their computer for it and earn good, we will at the time not focus on centralized platforms like the current social media. At the time, information will not be managed in a centralized way but completely decentralized.

If internet 3.0 is allowed to be implemented, people will prefer to move towards privacy with time, or if they prefer to, you will see the powerful centralized bodies like Facebook and the likes reducing in usefulness, thereby nullifying the advantages of the big companies.

There is a market for crypto based client side data mining through which it is becoming much easier to collect and transact various information. The platform also has an online calculator that helps you calculate how much you can gain by mining in this mining pool using mining tools. Of course not all co-mining pools use this practice but there are also honest, profitable pools that value their name also there are cryptocurrency mining pools that claim no fees like the Mining Pool. Be careful as a rule such services accept hidden fees.

I agree with that.Financial markets are dominated by "asymmetrical information",which means that people,who know more,profit more.If all the information on the market becomes publicly available,nobody will lose money,so nobody will win money,because the financial markets are a zero sum game and the profits of one trader "are" the losses of another trader.
Only perfect markets have 100% transparent information about all deals and transactions,but in reality,no market is perfect.
The vast majority of the people are (and will always be) driven by emotions,not by logic,which means that such system will never improve their lives,because they refuse to let go of their emotions and accept logic.

The only drawback of your system is that EVERYTHING is open. And the same Buffett will not want to make their operations transparent like millions of other companies and hundreds of millions of people.
I'm sorry, but we already live in a so-called "digital Gulag" where Facebook knows almost everything (including when you go to the toilet). And now you're offering the same for financial market.
Maybe it's easier to buy a Xiaomi (they like to sell every byte about you) right away and get a gps chip right in your hand instead of a passport?

Maybe I didn't do a good job explaining OP.

Imagine if someone found a way to eat delicious and healthy food for 1 month that costs $150. Imagine if you could view all their shopping transactions in a public ledger verified via blockchain to see what type of food they bought, where they bought it and other details to replicate their success.

Imagine if an investor had an account balance of $500 in october 2020. And found a way to triple their money so their account balance is $1,500 in november 2020. Imagine if you could view all their buy and sell orders to see what their investment and trading strategy was to learn from it.

Imagine if you could see all the financial transactions of someone who owns a multi million dollar business or drives lambo. Maybe there would be interesting information present some could apply to their own lives.

The client and consumer side doesn't share information. It is possible that there are valuable life lessons and information there some might be willing to share. That would help people to adopt better financial and investment habits. It is also possible that crypto with open ledgers and blockchains could be uniquely qualified to be a platform suited for this role.

It could also lead to exit scams and bloodbaths... I think current law tries to prevent people giving much in the way of what they should invest in for this exact reason...

There's potential for some low interest ideas to be picked up this way but the more people you get over to a high interest scheme you find, the less you also gain in interest too afaik.

Exposition: we've all heard of google, facebook and other tech giants collecting and selling end user data. There have been many eras in human history. Bronze, iron and industrial ages. Some refer to the current era as an information age. An era where information and data can be as valuable and coveted as bronze, industrialization or gold in previous eras. Retailers and big business utilize collected data to build better businesses and gain advantages over business rivals and consumers.

Question: could there be a market for crypto currencies which focus on client side data mining, which work to the benefit and advantage of consumers. A market which might be undervalued and neglected atm.

Implementation: a working model of this could be defined by a blockchain and social media platform built around sharing and validating financial data in the form of purchases, investments and transactions inside of a public ledger. Sharing of client side information could help consumers to find the best investments, sales and deals. With the best information sharers being rewarded with crypto.

Marketing pitch:  imagine if you could see every financial transaction and investment move made by Warren Buffett. Imagine if all of that data were shared and verified by a blockchain on a volunteer basis. In theory it could help consumers to learn better spending and saving habits. Perhaps manage their finances more like the pros. Could it help consumers to coordinate and cooperate to find better business deals and spending habits. Which could nullify advantages big tech and big business have with data mining schemes.

Perhaps this wouldn't be a bad idea and might be something people would be interested in?   

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