Ex-BitMEX CEO Hayes Foresees Bitcoin Transforming AI
Key Insights:
- BitMEX’s Arthur Hayes predicts a symbiotic relationship between Bitcoin and AI, leading to a technological revolution.
- Hayes envisages Bitcoin as ‘energy money’ fueling AI, with the potential for a significant surge in Bitcoin’s value.
- Fusing two fervors – escaping fiat inflation and embracing tech evolution – could trigger a pivotal market shift toward Bitcoin.
Arthur Hayes, the co-founder and former CEO of BitMEX, is championing the idea of a groundbreaking union – one between Bitcoin and artificial intelligence (AI). In his intriguing three-part essay series, “Massa,” he paints a futuristic scenario where Bitcoin reigns as the chosen currency for AI, which he predicts will become an increasingly dominant force.
Hayes is fascinated by the escalating advancements in AI and robotics and their potential to relieve humanity of tedious tasks, freeing us to follow our passions. However, he doesn’t ignore the growing fears of AI’s potential to surpass human abilities. Hayes remains optimistic, pointing out the recent strides in computational power indicating a significant shift in human life triggered by AI’s growing influence.
Besides AI’s potential benefits and challenges, Hayes highlighted the stunning rise of AI technologies such as ChatGPT. This AI reached a remarkable milestone with 100 million active users in two months. According to Hayes, this rapid adoption rate shows how swiftly AI integration can transform societal norms.
Bitcoin: The Energy Money of AI’s Future
Hayes’s vision continues beyond the convergence of AI and societal norms. He sees a compelling connection between AI, bitcoin, and electricity. He argues that advanced AI systems need two primary ingredients to thrive: a vast pool of data to learn from and significant computational power. These necessities demand substantial electrical energy, which Hayes likens to food for AI, making a strong case for Bitcoin’s role in this new digital ecosystem.
Bitcoin, Hayes argues, maintains its energy-purchasing power over long periods, making it the ideal choice for transactions in an AI-dominated world. He describes it as the optimal ‘Energy Money’ for AI, drawing an interesting parallel to humans who need to output more value than they consume.
Significantly, Hayes compared gold, fiat, and bitcoin regarding their scarcity, digital censorship resistance, and energy purchasing power. His conclusion? Bitcoin, with its digital nature, censorship resistance, provable lack, and intrinsic link to electricity cost, is the logical choice for AI.
Additionally, Hayes predicts that if AI adopts Bitcoin, we could witness a substantial surge in Bitcoin’s value. This increase would result from merging two fervors: the drive to evade inflation in the fiat financial system and the desire to partake in the next evolution of humans and computers. However speculative these claims may be, Hayes believes significant profits could come from this potential market shift.
Bitcoin Ascends: Market Cap Surpasses $585 Billion
Bitcoin is currently priced at $30,333.48, marking a 0.20% growth in the past day. The digital currency showcases a remarkable trading volume exceeding $17 billion within the last 24 hours and continues to retain its leading position on CoinMarketCap. Bitcoin’s live market capitalization is notably hefty, exceeding $585 billion.
While remaining in the realm of speculation, Hayes’s propositions open up vital discussions about the potential symbiotic relationship between AI and Bitcoin. The future might be uncertain, but there’s a new frontier on the horizon, and it’s worth exploring.
Tomorrow’s technology might be a Bitcoin-powered AI in this rapidly advancing world. It’s time to prepare for this shift in the technological landscape.
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