Bitcoin Will doom Us all!
Let us think for a second:
I like most of the world these days, am a big fan of crypto. I revel in the fact that we can interact with people and businesses in a way that leaves the government completely out of the loop. But one night I was Lying in bed and a very scary thought hit me like a ton of bricks.
As of today, the world is starting to recognize bitcoin as a legitimate form of currency. Slowly the world will completely acknowledge it, and start to use it for everything. Now, let us say that in the not to distant future, that cash is completely left behind, bitcoin has taken over the world and crypto is the only form of currency. To most Crypto nuts, this would be a great thing. The block chain would be an everyday word and everyone would completely understand it.
Chris Concannon, president of Cboe Global Markets Inc, stated:
“We are big believers in the cryptocurrency markets,” Concannon said in an interview after the Friday announcement. “I actually believe that national currencies will begin issuing digital currencies. So this first step is a very big step into what I see as a growing market.”
“Over the next 10 years we believe that the cryptocurrency market will explode in terms of the assets that they touch, the currencies that they involve,” Concannon said.
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"A report by Futurism highlights some of the possible outcomes, should cryptocurrencies surpass fiat currencies at some point in the future. One important consideration is that cryptocurrencies cannot be manipulated quite as easily as fiat currency, largely due to their decentralized and unregulated status. Beyond that, cryptocurrencies could better support the concept of a universal basic income than fiat currencies would. As a matter of fact, some programs have already experimented with the use of cryptocurrencies as means of distributing a universal basic income."
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Now on the other side of the coin we have the advancement of AI. If possible, we will have some for of artificial intelligence in the future as well. This AI would be completely autonomous and have the capabilities to be connected to any network that it deems worthy of hooking up to. It would be able to make decisions about what it wants to do and how it wants to do it, without the influence of humans.
What this means
If we see these things separate, then these things are pretty cool. But together they could make life really difficult.
Think of the terminator, but without all of the killing. If all of our money is done on a computer, and an AI has access to the same network, the AI could have access and control of the whole worlds money. It could disrupt shipping, the stock market, even your crypto paycheck. In essence it could decide who would be rich and who would be poor.
Along with the damage that the AI could cause, it could also start mining for itself. A given AI could make a massive bot net out of the entire grid. This would put anyone attempting to mine, absolutely impossible. The world would be at the mercy of the AI.
This, of course is just hypothetical. It would take everything to line up in just the right fashion, but it could be possible.
Although being an AI and Crypto nut myself, i think we have to look at what exactly we are doing, and the responsibility that comes with it. Sometimes just because we can do something , we have to ask ourselves if we should.
Just a thought.
