(This is an old idea but I thought some of you might find it interesting)
A new crypto company claims to be able to predict the daily price directions (up or down) of the top 30 companies (by market cap) in the S&P 500 with perfect accuracy.
They claim that anyone who buys into their ICO will be added to a private email list and will receive – every day – an email that says whether each of the 30 companies’ stock prices will be up or down at the end of the following day. A real crystal ball for day traders.
Naturally, people are skeptical. So the company offers to prove their capabilities the following way.
Every day, for 30 days in a row, the company performs the following incredible feat:
At the end of day X they reveal a document that perfectly predicts the price movements (up or down) of all 30 companies that day. And they also produce a timestamp (using something like Peter Todd’s OpenTimestamps) that proves that the document was created on day X-1.
That is, they cryptographically prove that for 30 days in a row they were able to create a document that perfectly predicted the price directions of the 30 companies one day before the prices made their move.
Should you invest in their ICO? If not, why not?