Before we go into details of RefFeed, let us explain who Elon Musk is exactly. Elon Musk is a visionary, some call him the smartest enterpreneur of our century. He believes in renewable energy and although his ideas seem too radical and impossible to many people, Elon is proving them wrong year after year. He has made it his agenda to make the world a greener and better place. Some of his ventures include electric cars (Tesla), cheaper and publicly available space travel and colonization of Mars (Space X) and next generation solar panels (Solar City).
But now, Musk has decided to partly withdraw from running Tesla, in order to focus on his new venture in the financial sector. That's why he acquired RefFeed.
What exactly is RefFeed? RefFeed is a financial technology with the plan to redistribute worlds wealth. Basically, to take from the top 0.1% and give back to 99.9%. Elon believes wealth is not distributed well in our age, and although there always will be someone richer and someone poorer, the current situation is not acceptable, where top 0.1% controls almost 90% of world's wealth. Musk believes he can cut that down to around 20% without causing world-wide financial crisis. So what exactly does that mean to you, the regular middle or lower class person? This means you will become 2 - 3 times wealthier, and no one except the super-wealthy will take a hit. Sounds amazing, doesn't it?
Ok, the theory is there, but how will it work you might ask? Overall, the idea is easy. The top 0.1% keep their wealth invested in stocks, and Wall Street brokers trade these stocks for them. The idea is to beat the Wall Street traders in their own game - make winning trades so Wall Street with their hoards of wealth slowly but surely starts losing money. Just like a poker game, where a new player comes along on the high-stakes table and starts winning.
In order to do this you would need a better stock movement predictions than the Wall Street has. With the help of cloud computing, it can be done, and it's actualy being done now as RefFeed has showed! This is exactly the reason why Musk jumped on this technology as soon as he heard about it. It's revolutionary.
We interviewed Reffeed CTO Dan Marconi so he can better explain exactly how Reffeed operates.
Can you tell us how RefFeed works?
RefFeed works like a team of spies. We have millions of automated robots that go on social media and gather real-time data - posts, images, text, videos and anything else people are publicly saying. Then we analyze all this data, looking for topics related to any publicly traded companies. Once we have a certain trending topic related to a big company, we analyze if the trend is Positive or Negative. If the trend is positive, we bet on the stock to rise, if the trend is negative - we bet on the stock to fall. It’s that simple.
How often does RefFeed make a mistake?
Not that often at all. What people are saying on Social media is real, it’s there and it’s true, so we rarely make a mistake. We are still in Beta stage of our software, but it’s already showing over 87% successful trades. This means that out of 100 trades RefFeed makes automatically, 87 will be profitable.
How much money can a regular user of RefFeed make?
It depends a lot on the money they invest and the broker they work with. Let’s take the regular user who starts with 500$ and bets 20$ per trade. Over 24 hours RefFeed will make around 200 trades based on trends on Social media. Around 174 of the trades will be profitable, and 26 will not. This means user will win approximately 3,480$ and lose around 520$. Evening out to 2,960$ profit in a single day. There are some small commissions added by the broker, but it’s usually less than 2%.
Has any user actually lost his investment?
No, we have never had a user who had lost his invested money. Even the worst cases we have had were always profitable in the end.
What improvements are you working on right now?
Right now we can only access information that people are publicly sharing on social media. Once we go out of Beta and make the RefFeed available for anyone, we will ask our users permission to access their individual Newsfeeds. This will give us even more data to work with, making RefFeed more accurate.
Individual Newsfeeds? Is it safe to give access to that?
It’s 100% safe. We simply ask for access monitor the newsfeed using automated systems. There is no risk of us posting anything or your behalf. And besides that, no real human will be reading your Newsfeed. It’s all just algorithms looking for keywords. We take privacy very seriously and will never take any risks to harm our users.
How much will it cost to use RefFeed automated system?
We don’t know yet. But first 1,000 spots will be free. After that, for regular users, we are thinking of charging $10,000.00 monthly and a hundred times as much for trading firms who wish to use RefFeed. We do not want to disrupt the stock market too much so spots will be limited to 1,000 trading firms and 1,000,000 regular users.
When will RefFeed be available?
Very soon. We are just adding finishing touches and first members will be welcome very soon. First we will open the doors for small traders - regular people, and only later for big trading firms. Again, first 1,000 people will get a lifetime membership for free.
After the interview Dan showed us RefFeed in action. It was like seeing a real miracle for the first time. Dans software was making money on autopilot. Dan was so confident in his Software that he offered to give us one free membership so we can run our own independent tests, and so we did.
Alex Woods, 24
We took one of our intern students Alex Woods and told him to sign up, following each step.
The first step was fairly easy - he needed to fill in some details like name, last name, email and phone number. After the form was completed and submitted, he was taken to RefFeed dashboard. Everything seemed pretty easy over there.
The next step was to fund the trading account with a trusted broker. The broker RefFeed selected for Alex was BinaryTilt. As we were navigating to the deposit page, Alex received a phone call from BinaryTilt. It was his personal account manager wanting to assist funding process. With the help of account manager, funding process didn’t take long, as all major Credit Cards like VISA, MasterCard and American Express are accepted. Alex went ahead and deposited 250$. Once funded, we navigated to the “Auto Trader” section of software, set the trade amount to recommended 20$ and enabled it.
RefFeed started making trades automatically in front of our eyes, winning most of them. We left it active for 23 hours and once we came back, Alex already had $2,592.37 in his account.
Alex wasn’t convinced. To make sure this was all real and not just some phoney numbers on the screen he requested a withdrawal of $2,500.00 to his bank account. This was a fast and easy process as BinaryTilt is a thrusted broker. After 2 hours money was in his bank account! At this point Alex and we knew that it’s real.
We can’t wait for the software to go live. This will change lives of millions of people. Sometimes the things that seem too good to be true, are actually true.
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