ExploreTrendingAnalytics
Nostr Archives
ExploreTrendingAnalytics
Michael Dunworth5d ago
Legitimately, bitcoin is about to get eaten by AI. Energy security battle is about to heat up. There is more money to be made committing energy to AI for those that control the energy, than there is for Bitcoin. I’m here for it too. https://www.startupdaily.net/topic/artificial-intelligenc…
💬 8 replies

Replies (8)

Cruz5d ago
In what way is it going to be eaten?
0000 sats
Michael Dunworth5d ago
Energy competitiveness will reduce hashrate. There’s more money and value captured by AI (more people want that to win than Bitcoin if it was a choice). Energy is now only flowing to either AI or Bitcoin. Competing interests say that Bitcoin is less sexy, and now energy is directed to AI. Hashrate down, Bitcoin gets double spent into the shadow realms. This is all IF cryptography like ECC can hold up. If the chain isn’t secure, then there is no Bitcoin. Bitcoins misaligned community makes it the perfect target too.
0000 sats
exist2705d ago
Very brave of you to come out of the closet like this, but…
0000 sats
Cruz5d ago
So we should just sell off all of our Bitcoin now? Isn’t this what the difficulty adjustment avoids? You’d need a state actor stacking ASICS now waiting for a 50% drop in hash while also needing 51% of current hash. They’d spend ungodly amounts just to set this up, the only benefit would be to kill Bitcoin off. Theres 0 economic benefit. To really kill it they’d have to keep this machine offline in the shadows and keep continuing to attack when difficulty got to a level it was viable.
0000 sats
Michael Dunworth5d ago
China has been stockpiling since 2015. Central bank of Iran has 3% of the hashrate of the network. Russia is mining. America will do what they did to Intel. The web is already weaved.
0000 sats
Michael Dunworth5d ago
Banning energy consumption for Bitcoin is a pen swipe. The pen is always mightier than the sword. No don’t sell now, force community alignment, or death of Bitcoin.
0000 sats
Cruz5d ago
How can community alignment combat a bitcoin mining ban?
0000 sats
Michael Dunworth5d ago
Singular point and singular focus is harder to combat at a political level. When everyone is on the same page, it is much easier to corrupt the incentive model of the corruptible (political individuals). Fragmentation means multiple weak discussions that can’t gain steam. Inch deep mile wide is weak and easier to dismiss than inch wide, mile deep. But if the community doesn’t know what it is, then the world will tell it what it is. “If you don’t tell the world who you are, then the world will tell you are”. Focus is identity, and repetition of identity is reputation. This has what got Bitcoins strength thus far, and what is weakening now. Treat Bitcoin like a child, the first sentient child and we are the parents. You need one focused parenting style to give it its own independent identity and strength. Great question btw, thanks Cruz 🤙
000
0 sats