Bitcoin is the foundation. Everything that happens, every technology, every tool, every innovation, such as Artificial Intelligence, enlarges the total Bitcoin pie.
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I know, I know. Your Twitter feed has probably been drowning in threads and tips from AI bros who have discovered 99 ways for you to save 99 hours every week using ChatGPT or some other list of 99 AI apps.
I’m sick of it too. Trust me, especially considering that most of these AI “experts” were Web3 “experts” last year, NFT “experts” the year before and DeFi or crypto “experts” before that. Trend hopping at its finest.
That’s not to say there’s no value here to be found here. Somewhere beneath or behind the almost-deafening noise coming from these influencooors there is a possible paradigm shift, and a genuine set of use cases. We’ve seen some already, of course.
You can chat with these models to reason out a problem, you can summarize thoughts and ideas, find correlations between ideas, search for some information better than you could with Google and, of course, build more linguistically-functional chatbots. Perhaps the best use case thus far are the dev-assistant tools, but I get the sense that we’ve not yet seen the “Uber moment.”
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There is also — somewhere beneath and behind all of the scary talk of artificial general intelligence (AGI) and the idiocy being proposed by bureaucrats and would-be regulators — a more human-centric, human-enhancing use for these tools.
The idea of a language user interface as the next step from the thumb tapping we’ve become used to over the past decade is fascinating, and what we should be thinking about is how to make these tools new “bicycles for the mind,” as Steve Jobs said about computers. It’s very important that we push back against doomer narratives that lean the world toward “approved AI” in order to avoid such tools becoming yet another appendage of the State.
In this short article, I’d like to explore the ideological AI battlefield and its relationship to Bitcoin. Some pretty important battle lines have been drawn, and we must all be aware of them.
BITCOIN REMAINS THE MOST IMPORTANT THING IN THE WORLD
Energy is still the currency of the universe. That’s not changing, and will never change. At the risk of sounding like too much of a hippie: It’s all energy.
People often forget that, and this recent AI hype cycle is a clear example. Most people you talk with, even otherwise smart people, think that AI is the biggest thing happening in the world today, and that it’s mankind’s most important innovation.
I think they’re wrong, in a big way. They’re missing something more foundational.
AI is a tool. When applied well, it’s a very effective tool. But however effective a tool it may be, it needs energy to run. Yes, it can and will enhance how we use and allocate energy, but ultimately, it is an amplifier. A tool. An “engine,” so to speak.
What is Bitcoin?
Well, Bitcoin is like energy. Before the Saylor-haters out there screech about that not being literally accurate: I know! It’s a metaphor, and in my opinion, a useful one. It’s useful because, in the same way we can essentially use energy to measure everything else, money is a measure that helps us (implicitly) account for energy, time and material resources.
If we understand that Bitcoin, on a long enough time scale (generationally speaking, not civilizationally) becomes money, then here’s the truth that AI people are missing:
Bitcoin benefits from all of it, because Bitcoin is the foundation. Everything that happens, every technology, every tool, every innovation, enlarges the total Bitcoin pie.
So, don’t get it twisted: AI is big, but Bitcoin remains king.
Of course, in terms of financial returns, VC money and the like, AI companies will probably outpace both bitcoin returns (in the short term) and also Bitcoin company returns, but that’s to be expected in a fiat world where hype prevails over sanity, and we experience abnormal cyclicality.
AI is also undergoing a sort of renaissance, so there is lots of buzz. This will, in time, stabilize and as bitcoin becomes the unit of account, lo and behold, all of the real value generated from AI will ultimately accrue to bitcoin and bitcoin holders.
So, don’t stress if you’re feeling FOMO on AI. Don’t worry about changing your entire life around because some ex-crypto-turned-AI-expert guy wrote a viral tweet telling you about some new, generative AI tool that will obsolete some and make others mega rich.
Slow and steady continues to win the race. Bitcoin continues to be king.
According to a report by Nikkei, Hong Kong is set to become a crypto trading hub with the commencement of applications for licenses to operate trading platforms and exchanges.