361
Generative AI hype is ending – and now the technology might actually become useful
(theconversation.com)
this post was submitted on 20 Aug 2024
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Technology
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Useful in the way that it increases emissions and hopefully leads to our demise because that's what we deserve for this stupid technology.
Surely this is better than the crypto/NFT tech fad. At least there is some output from the generative AI that could be beneficial to the whole of humankind rather than lining a few people's pockets?
Unfortunately crypto is still somehow a thing. There is a couple year old bitcoin mining facility in my small town that brags about consuming 400MW of power to operate and they are solely owned by a Chinese company.
I recently noticed a number of bitcoin ATMs that have cropped up where I live - mostly at gas stations and the like. I am a little concerned by it.
Do you really think that paper money covered in colonizers and other slavermasters is going to last forever?
Found the diamond hands.
Crypto currencies are still backed by and dependent on those same currencies. And their value is incredibly unstable, making them largely useless except as a speculative investment for stock market daytraders. BitCoin may as well be Doge Coin or Bored Ape NFTs as far as the common person is concerned.
I hope your coins haven't seen a 90%+ drop in value in the past 4 years like the vast majority have.
Cryptos obviously have serious issues, but so do fiat currencies. In fact all implementations of money have one problem or another. It's almost like it's a difficult thing to get right and that maybe it was a bad idea in the first place.
What do you mean by “backed” here? I think I’m misunderstanding but I thought (and a short google seems to confirm) that currency A being backed by currency B means the value of A is fixed at a certain amount of currency B, and there is some organisation “backing” this with reserves.
Not trying to shill/defend crypto, just confused on terminology :)
I mean that crypto currencies are essentially the same as stocks. They have no worth on their own, and their value is tied to converting them to other currencies.
And this conversion rate fluctuates constantly. What one bitcoin is worth today is not what it will be worth tomorrow. In order to buy something with a crypto currency, companies have to first check how much it's worth in fiat currency.
That's why you stick with Bitcoin instead of running after whatever flashy new super duper coin that assholes trick fools into buying.
lol
Forever? No, of course not.
But paper currency is backed by a nation state, so I'm betting it'll be around a bit longer then a purely digital asset without the backing of a nation, and driven entirely by speculation.
I'm not even anti-crypto. It was novel idea when it was actually used entirely as a currency, but that hasn't been true for quite some time.
Bullets and toilet paper will be more usable currency than crypto if paper falls out of favor.
I hope this is sarcasm.