Bitcoin’s Potential as the Ideal Currency for AI
Arthur Hayes, co-founder of BitMEX, believes that Bitcoin has the potential to become the ideal currency for artificial intelligence (AI). He argues that AI, like humans, needs a monetary mechanism to function effectively. Bitcoin’s characteristics of being always accessible, automated, and digital make it uniquely suitable for the demands of AI. Hayes emphasizes that AI requires continuous access to data and computational power, which blockchain-based systems can provide, unlike traditional banking systems. Bitcoin also satisfies the need for a censorship-resistant payment system, offering clear and straightforward rules. Additionally, Hayes points out the limitations of fiat currency and gold, advocating for Bitcoin’s suitability as AI’s “food” – electricity. He dismisses the idea that Ethereum could be a better currency than Bitcoin due to its additional applications.
Solana Labs Develops AI Tools for Navigating the NFT Market
Solana Labs is developing an AI-based tool to guide newcomers in the NFT market. Tal Tchwella, Head of Product at Solana Labs, recognizes the complexity of the NFT space and believes AI can help users navigate it. The AI tool will assist users in finding and purchasing NFTs that align with their preferences. Tchwella also mentions the potential introduction of AI applications to help users identify trending collections and connect with relevant communities. Solana has experienced growth in its ecosystem, adding 10 million new wallet addresses in May and June. Anatoly Yakovenko, Solana Labs’ CEO, sees the potential of AI in enhancing the usability and understanding of Solana and contributing to the broader web3 and crypto development.
Hot Take
Bitcoin’s characteristics make it an ideal currency for AI, providing continuous access to data and computational power. Ethereum’s additional applications disqualify it from being “pure money” like Bitcoin. Solana Labs’ AI tool aims to simplify the NFT market for newcomers, helping them find NFTs that resonate with their preferences. Solana’s growth and the potential of AI indicate promising developments in the crypto space.
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