NetMind AI, an AI-centric technology start-up, has unveiled the Beta version of Netmind Power. This decentralized platform is designed to aid machine learning (ML) researchers and practitioners in training and fine-tuning ML models. It does so by harnessing a network of volunteer computing resources from across the globe. For a limited time, the Beta version is available for free, and users can now register to use the platform.
The Limited-Time Free Beta Version
NetMind Power is a decentralized ML platform that offers affordable and scalable computing power for AI model training. It does this by harnessing a broad international network of idle GPUs, such as those remaining from Proof-of-Work cryptocurrency mining. Any individual who owns one or more GPUs can connect them to the network and earn a reward for their contribution. This platform efficiently links providers of idle computing power with researchers and engineers in need of a cost-effective solution for their ML training needs, eliminating the requirement for in-house infrastructure investments or dependency on costly hyperscalers like AWS EC2.
This Beta launch offers AI and machine learning engineers a chance to get acquainted with the platform without any financial obligation.
Users are required to make minor modifications to their training code using a proprietary python library developed by NetMind.AI. The platform then simplifies a layer of complexity and is capable of automatically applying data parallelism and model parallelism to train models across multiple distributed machines. This results in quicker training times and the ability to train large language models at a very low cost.
Who is Eligible to Use the Beta?
Anyone interested in training or fine-tuning machine learning models is invited to join the Beta. This includes large corporations, small research labs, or individuals. Early adopters get the opportunity to use the platform's suite of AI modeling tools free of charge for a limited period, making it a valuable resource for AI engineers.
The NetMind Token: Where AI and Web3 Intersect
The NetMind Power platform is supported by blockchain technology. Upon its full general release, the NetMind Token (NMT) is set to become a key component of the NetMind ecosystem. The token is intended to have multi-dimensional functionality, serving as the utility token for the entire NetMind platform, where it will fulfill three main roles:
Medium of Exchange: Within the NetMind ecosystem, NMT will facilitate transactions, enabling users to access services, exchange computational resources, and more. Users will use NMT to pay for model training and inference services, while Volunteer Computing providers will receive NMT as a reward.
Governance: NMT holders will have the chance to participate in the platform's governance, influencing decisions, proposing changes, and voting on vital operational aspects. This decentralized approach aims to ensure that the platform remains adaptive, transparent, and genuinely community-driven.
Reward Mechanism: In recognition of its users' contributions, NetMind has established NMT as a reward. Crypto miners who offer their idle GPUs are rewarded with NMT, encouraging active participation within the community.
How to Sign Up
For those eager to test the available features of the NetMind Power platform, the Beta is currently live, and applications are being accepted. By registering now, early adopters can experience the platform's capabilities free of charge for a limited period.
To create an account and register for the Beta, users can visit the NetMind Power platform and follow the prompts.
Frequently Asked Questions
What type of IRA are you using to buy precious metals stocks?
A Individual Retirement Account (IRA), is an investment vehicle offered by most financial institutions and employers. Through an IRA, you may contribute money to an account that grows tax-deferred until withdrawn.
An IRA allows for you to save taxes while still paying taxes when you retire. This means that you can deposit more money into your retirement plan than have to pay taxes on it tomorrow.
An IRA is a tax-free way to make contributions and earn income until you withdraw the funds. You can face penalties if you withdraw funds before the deadline.
After 50 you can still make contributions to your IRA. There is no penalty. If you decide to withdraw your IRA from retirement, you will owe income taxes as well as a 10% federal penalty.
Refunds received before the age of 591/2 are subject to a penalty of 5% from the IRS. For withdrawals made between the age of 59 1/2 & 70 1/2, a 3.4% IRS penalty will apply.
An IRS penalty of 6.2% applies to withdrawals above $10,000 per year.
What Precious Metals Can You Invest in for Retirement?
The first step to retirement planning is understanding what you have saved now and where you are saving money. Start by listing everything you have. This includes all savings accounts and stocks, bonds or mutual funds. It also should include certificates of Deposit (CDs), life insurance policies. Annuities, 401k plans, real-estate investments, and other assets like precious metals. Then add up all of these items to determine how much you have available for investment.
If you are between 59 and 59 1/2 years, you might consider opening a Roth IRA. While a Roth IRA does not allow you to deduct contributions from taxable income, a traditional IRA allows for that. However, you won’t be able to take tax deductions for future earnings.
If you decide that you need more money you’ll need another investment account. Start with a regular brokerage.
How much do gold IRA fees cost?
The average annual fee of an individual retirement account is $1,000. There are many types available: SIMPLE IRAs (SEP-IRAs), Roth IRAs, Traditional IRAs and Roth IRAs. Each type has its own set of rules and requirements. For example, you may have to pay taxes on any earnings from your investments if they’re not tax-deferred. The amount of time you intend to keep the money must be considered. If you plan to keep your money longer, you can save more money by opening a Traditional IRA instead of a Roth IRA.
Traditional IRAs allow you to contribute up $5,500 annually ($6,500 if 50+). A Roth IRA lets you contribute unlimited amounts each year. The difference between them is simple: With a traditional IRA, you can withdraw the money after you retire without paying taxes. With a Roth IRA, however, any withdrawals will be subject to taxes.
Is a gold IRA worth it?
The answer is yes, but not as much as you think. It all depends on your willingness to take on risk. It’s possible to retire with $1 million if your retirement age is reached if you are able to put aside $10,000 per year for 20 consecutive years. If you try to put all your eggs into one basket, you will lose everything.
Diversify your investments. Inflation is a problem for gold. You want to invest in an asset class that rises along with inflation. Stocks excel at this because they rise with increased profits. This is also true for bonds. They pay interest each year. They’re very useful during periods of economic growth.
But what happens when there isn’t any inflation? When there is no inflation, stocks and bonds will lose even more value. Investors should not put all of their savings in one investment such as a stock mutual fund or bond.
Instead, they should combine different types funds. They could also invest in bonds and stocks. They could also invest both in bonds and cash.
So they can see both sides of each coin. Inflation and deflation. They will see a return over time.
Can you make money on a gold IRA?
It is important to first understand the market in order to be able to invest and secondly to identify what products are currently available.
Trading should not be started if you don’t have sufficient information.
Find a broker that offers the best service to your account type.
There are many accounts available, including Roth IRAs and standard IRAs.
A rollover is also an option for those who already own stocks and bonds.
Which is stronger, 14k or sterling gold?
Gold and silver are strong metals, but sterling silver is much less expensive because it contains 92% pure silver rather than just 24%.
Sterling silver is also known as fine silver because it is made from a mixture of silver and other metals such as copper and zinc.
The strength of gold is generally very high. It takes great pressure to break it apart. If you dropped an object on top to a gold piece, it would shatter into thousands rather than breaking into two halves.
On the other hand, silver is not nearly as strong as gold. If you dropped an item onto silver sheets, it would likely fold and bend without cracking.
Silver is usually used in jewelry and coins. Therefore, its value tends to fluctuate based on supply and demand.
Can I keep my gold IRA at work?
An online brokerage account can be a great way to save your money. You will have the same investment options available as traditional brokers, but you won’t need special licenses. Plus, there are no fees for investing.
In addition, many online brokers offer free tools to help you manage your portfolio. They will even let you download charts to see how your investments perform.
Statistics
- Silver must be 99.9% pure • (forbes.com)
- To qualify as IRA allowable precious metals and be accepted by STRATA, the following minimum fineness requirements must be met: Gold must be 99.5% pure, silver must be 99.9% pure, and platinum and palladium must both be 99.95% pure. (stratatrust.com)
- You can only purchase gold bars of at least 99.5% purity. (forbes.com)
- The maximum yearly contribution to an individual’s IRAs is currently $6,000 ($7,000 for those 50 years or older), or 100% of earned income, whichever is less. (monex.com)
External Links
regalassets.com
forbes.com
- Gold IRA – Add Sparkle to Your Retirement Nest Egg
- Understanding China’s Evergrande Crisis – Forbes Advisor
kitco.com
wsj.com
How To
Things to Remember about the Best Precious Metals Ira of 2022
Precious Metals Ira ranks high among investors as one of their most popular investment options. This article will provide information on how to understand the appeal of precious metals ira and make sound investment decisions.
Their long-term growth potential is the main draw of these assets. The historical data shows incredible returns for gold prices. Over the past 200 years, gold has increased from $20 per ounce to almost $1900 per ounce. The S&P 500 Index was only up by 50%.
In times of economic uncertainty, gold is often considered a safe haven. People tend to sell stocks when the stock market is in trouble and shift into gold for safety. Also, gold is considered a hedge against inflation. Many economists believe there will always be inflation. Therefore, they see owning physical gold as a way to protect your savings from future price increases.
You should be careful before you purchase precious metals such as palladium, gold, platinum or silver. First, determine whether you are interested in investing in bullion bar coins or coins. Bullion bars are usually bought in large quantities (like 100 ounces) and stored away until needed. You can also buy bullion bars in smaller quantities with coins.
Second, you should consider where you plan to store your precious metals. Some countries are more safe than others. For example, storing your precious metals overseas might make sense if you live in the US. If you intend to store them in Switzerland, though, you might need to question why.
Finally, decide whether you want investment in precious metals directly (or through precious metals exchange traded funds) (ETFs). ETFs track the performance of various commodities such as gold and are financial instruments. These are a way to have exposure to precious metals but not necessarily own them.
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By: Media
Title: Introducing the Beta Version of Netmind Power for Decentralized Machine Learning by NetMind AI
Sourced From: news.bitcoin.com/netmind-ai-unveils-the-beta-version-of-netmind-power-for-decentralized-machine-learning/
Published Date: Mon, 16 Oct 2023 14:15:13 +0000
