Benzinga - Are investors making too many assumptions about Bitcoin (CRYPTO: BTC)? JPMorgan Chase & Co (NYSE: JPM) CEO Jamie Dimon is bullish on blockchain technology, but Bitcoin is another story.

"How do you know it's going to stop at 21 million? ... maybe it's going to get to 21 million and Satoshi's picture is going to come up and laugh at you all," Dimon said during a Jan. 19 appearance on CNBC's "Squawk Box."

What To Know: Satoshi Nakamoto is a presumed pseudonymous person responsible for the creation of Bitcoin. Many argue that Bitcoin holds value because of its scarcity, given the maximum number of coins that can be mined is capped at 21 million, according to Bitcoin's source code.

Related Link: Satoshi Nakamoto's Last Messages Before Disappearing, The Odds Of $250K BTC In 2023

Dimon reminded listeners that no one really knows what will happen, but he has strong opinions on the world's oldest and most valuable cryptocurrency.

"Bitcoin itself is a hyped-up fraud, a pet rock," Dimon said.

"I think all of that has been a waste of time and why you guys waste any breath on it is totally beyond me," he told CNBC during an interview at the World Economic Forum.

Blockchain, on the other hand, is a technology leger system and it's much different than cryptocurrency tokens, he said, adding JPMorgan uses blockchain technology to move information and money around.

The rest is more of a "decentralized Ponzi scheme," Dimon said.

"I don't care about Bitcoin, so we should just drop the subject."

It may take a while to find out if Dimon is right in his thinking. Bitcoin isn't expected to reach the 21-million mark until 2040.

Check This Out: If You Invested $1,000 In Bitcoin When Tesla Bought The Crypto, Here's How Much You'd Have Now

Originally published on Jan. 19, 2022.

Photo: Tumisu from Pixabay.

2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Jamie Dimon Is Bullish On Blockchain, But Not Bitcoin Satoshi ... - Investing.com UK

Cryptocurrency has been a controversial topic in global finance since Satoshi Nakamoto published a white paper which made Bitcoin, a digital currency, a plausible reality in 2008. For the past fifteen years, the value of Bitcoin and other similar cryptocurrencies has been volatile and unpredictable, leaving many investors wary of them.

Cryptocurrency initiatives are gaining a larger presence on campus. At the University of Michigan, there are three student organizations dedicated to investment and research in cryptocurrency and related technologies: the Michigan Cryptocurrency Investment Club, Wolverine Blockchain and Blockchain at Michigan.

LSA Sophomore Evan Solomon, co-founder and president of MCIC, spoke with The Daily on how cryptocurrency may be gaining legitimacy. He cited cryptocurrencys institutional use in large, accredited financial institutions like investment banks. The fact that these banks trust cryptocurrency assets enough to invest in them, Solomon said, may be a signal that cryptocurrency can be reliable.

We had the (vice president) of Onyx, (J.P. Morgans) blockchain solution, come to campus for an event, Solomon said. (People) think that the banks arent using Blockchain yet, but thats not really true Once the student body understands that even the big banks are starting to pick up blockchain, theyll start realizing how wide scale the industry really is and how, at this point, its kind of too big to fail.

Solomon said MCIC works with companies to conduct technical or market research for them. One of the projects MCIC is currently working on is for a mapping company called Hive Mapper. Solomon said the company rewards users with their own proprietary cryptocurrency.

One of the companies were researching is called Hive Mapper. Solomon said. (It) is a competitor like Google and Apple maps, where people will be able to drive around and video the landscape of different areas and actually build out their own mapping solution. And, the people that are doing so will get rewarded and specific tokens for this product.

Business freshman Namhoon Lee, a member of MCIC, also spoke with The Daily about how the club does financial research for cryptocurrency. He said much of cryptocurrency research, like other kinds of financial asset analysis, requires context. According to Lee, understanding the market helps investors minimize their losses and protect themselves.

We try as best as possible to take preventive measures, Lee said. That could be reducing whatever risk we have, or whatever exposure we have, and also (beginning) to think about what would be the (long term) effects.

Some of the technical research that is being pursued more by U-M faculty regards in cryptography, which uses advanced mathematical structures to safeguard information. Cryptography is used by cryptocurrencies like Bitcoin, which require secure financial networks to transfer currency. In an interview with The Michigan Daily, Chris Peikert, professor of computer science and electrical engineering at the University of Michigan, explained the development and use of modern cryptography.

The basic idea of cryptography from the beginning was how to communicate with somebody in a secure way so that your enemy or your attacker, or your adversary, cant understand what youre saying, Peikert said. Crypto means secret and graph means writing, so it literally means secret writing.

One of the main problems cryptography researchers at the University focus on is the quantum apocalypse, which refers to the use of incredibly powerful quantum computers to break through all encrypted security systems that are being currently used. Peikert explains why this kind of computing is apocalyptic.

In the early 1990s, it was shown that if you had a big enough large scale quantum computer, you could use it to break all of the most popular crypto systems that were out there, Peikert said. The quantum crypto apocalypse is (when) somebody eventually builds that quantum computer and uses it to break all the cryptography that weve been using for 40 years.

This poses threats to national security and intellectual property, and is applicable to conversations about cryptocurrency, as shown by the recent fall of FTX. A breach of a cryptocurrency ledger would mean an attacker could steal or counterfeit hundreds of millions of dollars in digital assets. Peikert and other U-M researchers are focusing on counter-measures to the quantum apocalypse to protect against these worst-case scenarios.

We want to design crypto systems that can run on todays hardware, but will be secure against quantum attacks in the future, Peikert said.

Peikert explained that computer science theory and research is often different from traditional lab-based research.

Computer science theory is really all about what computers can and cant do in a fundamental sense, Peikert said. What can they do with certain resources, within a certain amount of time or with a certain amount of space? What kind of tasks are solvable, and what kind of tasks maybe arent solvable, or (are believed to be) not solvable?

Peikert then spoke on how cryptography and cryptosystems sets of algorithms implemented to provide information security are explored to develop obstacles for cyber-attackers.

In cryptography, we use problems that we think are not feasibly solvable as the basis for the security of cryptosystems, Peikert said. So, if we need to, we use some problem that we think is hard (for attackers) to solve.

Creating hard problems the kind that require a lot of computation to solve is useful in cryptocurrency, which can use cryptography to secure the identities of people holding, transacting and verifying cryptocurrency. It also makes sure that cryptocurrencies cannot be counterfeited or stolen by legitimate users.

Daily Staff Reporter Amer Goel can be reached at amergoel@umich.edu.

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Behind the : foundations of cryptocurrency - The Michigan Daily

2023-03-21 11:33:37 ET

Cryptocurrency is not an old industry. Bitcoin kicked off the industry as we know it when Satoshi Nakamoto mined the Genesis block on January 3rd 2009, as the world reeled from one of the worst financial crashes in recent memory.

Only three years later, XRP was launched, a decentralised asset built for payments. Today, it remains one of the most well-known and biggest cryptocurrencies, currently sitting in sixth place with a market cap of close to $20 billion.

And yet, so many are still confused as to what XRP does, as well as the distinction to Ripple, the company behind it. This week on the Invezz podcast, I interviewed Brendan Berry, Payment Products Lead at Ripple, to get into the weeds of what exactly XRP is, what Ripple is, and the distinction between the two, as well as what they both do.

We covered a bunch of topics. One of these was the issues with conventional banking a particularly pertinent topic given the startling events in the sector over the last couple of weeks.

But we focused mainly on payments. Ive criticised the process behind bank transfers, and I put to Brendan my curiosity around what feels like a total lack of innovation in the digital age from banks. I asked him about fees and lag times and why these were taking days for cross-border payments.

Of course, this is a big reason why XRP exists. We talked about the ins and outs of this, as well as a subsection within the area of payments: remittances. When I visited El Salvador last summer, I was fascinated by this area but the data shows that the pickup hasnt happened yet. I wanted to get Brendans take on this and how XRP can contribute in this area.

We also discussed the future of crypto, including what Brendan believes will be a streamlining of the front-end experience of a lot of transactions within the space.

Another topic we touched on was whether the recent banking turmoil would push people further into crypto, and what this could mean for the industry, and XRP, going forward.

All in all, it was a wide-ranging discussion centred on payments and what role XRP could have in this world.

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VIDEO: What is XRP and what does it do? What is Ripple? - InvestorsObserver

As we brace ourselves for a turbulent crypto year, the market has seen expansions of more than $80 billion despite the Securities and Exchange Commissions (SEC) stringent regulations. Crypto markets are finally displaying signs of a bullish run and accelerating speed after a challenging first, ignoring any obstacles or unfavourable news.

The newest meme coin in the cryptoverse, Big Eyes Coin (BIG), is in the lead after raising over $31.5 million during its presale. Only time will be able to determine when and where this will land. On the other hand, Bitcoin and Ethereum are two crypto industry leaders. Bitcoin dominated the market, and users followed SEC regulations when converting other cryptocurrencies into BTC. Players like Cardano are also putting themselves out there.

The king of cryptocurrencies, Bitcoin (BTC), reached a height of $24,755 as we entered the second half of February. This was the highest level since June 2022. The value of BTC soared once many users and investors shifted their funds away from other cryptocurrencies and towards the crypto beast. BTCs price at the time of writing was $24,551, up almost 10% over the previous day, and it had a $473.59 billion market cap.

In order to establish an autonomous and interconnected network of digital currencies, Satoshi Nakamoto, a mysterious person or entity, launched Bitcoin as a different means of payment in 2009. Bitcoin uses a Proof-of-Work (PoW) technique to verify transactions, and the digital currencys 21 million coins are in limited supply.

Like Bitcoin, Ethereum (ETH) experienced growth and increased by more than 8% to $1,700. In August 2022, Ethereums last value of $1,800 was recorded. ETH was worth $1,683 and had a market value of $205.75 billion at the time of writing.

In addition to serving as a platform for decentralised apps and smart contracts, Ethereum debuted as a De-Fi coin in 2015. Its security, and reliability make it the platform that consumers and developers want the most in the world compared to Bitcoin. Ethereum relied on the Proof-of-Work method, but last year the network saw a shift PoS (Proof-of-Stake), which is quicker, requires less energy, and is more secure.

A blockchain that uses proof-of-stake is called Cardano (ADA). As a result, the coins energy efficiency is increased. Traditional proof-of-work consensus requires more mining and transaction time. The blockchain was created in 2017, and the Alonzo hard fork was introduced four years later. It has smart contract capability as a result. Smart contracts encrypted security makes them tough to hack. Transactions using the proof-of-stake mechanism can be done very quickly, effectively, and precisely!

Cardanos dedication to transaction security has aided in the platforms growth into a potent blockchain. Its greenness is aided by the quickness and effectiveness of its transactions as well as its smart contract. The likelihood of investing being successful is high.

Big Eyes Coin (BIG) is a community-owned, meme-themed cat coin that aims to improve the environment of the planet while also providing useful services and use cases. Big Eyes Coins presale has already reached $31 million, and it now aims to achieve $50 million by the end of the presale. This brand-new meme coin has a cat as its symbol, and it has the potential to grow into the biggest meme coin ever.

In the past few weeks, Big Eyes have run a number of marketing initiatives, including a tattoo competition, discount codes, and the great set of loot box offerings that are currently available.

The community-led token has repeatedly shown that it is here to stay and has a bright future ahead of it, dispelling any concerns being expressed by these crypto gurus, despite some internet critics casting doubt on the currency and its genuineness.

With incredible technological advancements, usability, accessibility, NFTs, loot boxes, and more, Big Eyes Coin is aiming to establish itself as a crypto mainstay.

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

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WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost

AVISO IMPORTANTE: La inversin en criptoactivos no est regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido

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The Mount Rushmore of Crypto 2023? Bitcoin, Ethereum, Cardano ... - Euro Weekly News

On 20 March, entrepreneur Anthony Pompliano Pomp invited Real Vision CEO Raoul Pal to his podcast, where he quizzed the latter on a range of topics surrounding Bitcoin [BTC] and its numerous run-ins with regulatory bodies.

Speaking on Bitcoin and the 2023 Financial Crisis, Pal talked about crypto failures such as FTX, U.S. governments pushbacks against crypto, and former Coinbase CTO Balaji Srinivasans bet on Bitcoin hitting $1 million within 90 days.

Regarding the recent collapse of the crypto-friendly Silicon Valley Bank (SVB), Pomp asked Pal if we should compare its collapse of the crypto exchange FTX in November last year. Pal pointed out that, though its true that both institutions made poor investments. However, the crucial difference is that while SVB is a bank, FTX is only a brokerage. While SVB had the right, as a banking institution, to invest in customer funds, FTX had, as a crypto brokerage firm, no right to invest customer funds.

Pal also pointed out that even as banks have been disallowed from engaging in prop trading, FTX was doing essentially that with customer money.

Pomp asked Pal why the United States government was pushing against cryptocurrency. Pal responded that the U.S. government understands cryptocurrency and is acutely aware of the gigantic impact of possible bank runs as a potential result of Bitcoins popularity. It is for this reason that the U.S. government is pushing back against mass adoption of cryptocurrency through bringing in a lot of rules and regulations.

The crypto industry has been dealing with multiple failures such as Terra [LUNA], Three Arrows Capital, Celsius, Voyager Digital and FTX since 2022. In addition, hacking attempts have continued to plague crypto platforms. Due to such incidents, customers have lost millions of dollars so far.

Pomp also asked Pal if the U.S. government will use the Reserve to buy Bitcoin to assuage market panic. Pal answered in the negative, saying that unlike the countries in the Middle-East, the U.S. government will not be buying Bitcoin as it is an extremely volatile asset.

Pal also pushed forward his own theory that Satoshi Nakamoto is nobody but a state actor, which created Bitcoin as an alternative financial system just in case the mainstream banking system fails; in fact, these bodies already own Bitcoin, Pal proposed.

Towards the end of the podcast, Pal put worth his views on Balaji Srinivasans bet on Bitcoin hitting $1 million within 90 days.

Pal said:

Hes [Srinivasan] has got 0.0% chance of being right.

Srinivasan believes that as traditional currencies enter a period of rapid hyperinflation, the global economy will turn to Bitcoin as digital gold as the new, preferred currency.

Pal said that it is Srinivasans marketing trick to spread around the concept of hyper-bitcoinization. He, however, added that it could happen within 12 months but its not appropriate to put a date, he cautioned.

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Will Bitcoin [BTC] hit $1 million in 90 days? Real Vision CEO predicts - AMBCrypto News

What is a deflationary cryptocurrency?

Although cryptocurrencies are often promoted as investment opportunities, their primary purpose was originally to serve as an alternative form of currency. Considering this narrative, the rules of supply and demand apply to cryptocurrencies as to fiat currencies.

An undergraduate economics student might say the basics of money, economy and market forces is balancing supply and demand. How much of an asset is in circulation versus the demand how many people want that particular asset helps decide its price. This equation between supply and demand underlies the fundamentals of all economies and also applies to cryptocurrencies.

Deflationary cryptocurrency is one where the value of the crypto increases due to a reduction or stagnation in supply. This ensures that the coins market value is attractive for more people to invest in and can be used as a store of value. While deflationary cryptocurrencies look more attractive, not all are designed that way.

Many well-known cryptocurrencies are not deflationary. In addition, there is often no supply limit to them. Some are disinflationary because inflation gradually reduces over time due to its tokenomics. Bitcoin (BTC), for instance, wont be deflationary until all 21 million coins have been mined. Ether (ETH) was not deflationary until the Merge happened in September 2022.

Related: Inflationary vs. deflationary cryptocurrencies, Explained

Developers of tokens create deflationary mechanisms during the design of the economic model behind the token. The economic model tokenomics can be fundamental to how stakeholders add and accrue value in a Web3 ecosystem.

The supply and demand dynamics of a token are decided at the level of development. Deflationary characteristics like burn mechanisms are decided as the economic model underlying the token is being developed. This can be a point-in-time process like with Bitcoin or an evolving mechanism like with Ethereum.

When creating Bitcoin, Satoshi Nakamoto ensured there would only be a finite supply of 21 million. Once 21 million Bitcoin are mined, no new BTC can be created. This limited supply has helped the narrative that Bitcoin is a true store of value compared with fiat currencies that increase supply due to central bank monetary policies.

In contrast, Ethereum had an inflationary supply at its inception. Ether supply was increasing at an annual rate of 4.5%. However, after the Ethereum Merge that saw it move from proof-of-work to proof-of-stake, it is now a non-inflationary asset due to its burn rate. The number of Ether burned in maintaining the network activity is more than the amount of Ether entering circulation.

Implementing the EIP-1559 protocol has altered the economic nature of the Ethereum token by incorporating the burning of a fraction of the gas fees per transaction. As a result, some experts argue that Ethereum has become more deflationary than Bitcoin.

As deflationary tokens are considered a better store of value, new tokens created for both protocol and application tiers may be designed to be deflationary.

Investments in deflationary cryptocurrencies can yield growth and returns for investors. But being deflationary alone may not be a criterion to be identified as a better investment.

Due to their supply cap, deflationary tokens are typically perceived as more valuable by holders and investors. This was also demonstrated by the rise of nonfungible tokens (NFTs), where the rarity of the NFTs often decided the prices. Limited supply driving prices higher was also true with the Ethereum Name Service (ENS), where some three-digit ENS names were sold for even more than 100 ETH.

Ethereum may not necessarily be classified as a better asset after it became deflationary. Ethereum has a rich ecosystem that drives transactions on the chain, and as more Ether gets burned in the process, it causes deflation. An unused Ethereum blockchain wouldnt be able to achieve this economic feat.

The underlying chain fundamentals must remain strong for Ethereum to thrive as an investment. A chain with strong fundamentals typically has a developer ecosystem to create many applications that users widely adopt. As users flock to these applications, developers are encouraged to continue innovating.

The resulting network effect would make Ethereum deflationary, making it a more attractive investment asset.

Centralized regulatory organizations typically govern the inflation of asset prices in traditional capital markets. Is that the same in Web3? Who ensures fair play?

In the United States, the Federal Reserve (the Fed) assumes the responsibility of maintaining inflation at reasonable levels by implementing tools such as altering interest rates, bond-buying programs and money printing. This obligation is typically similar across most other nations. In Web3, inflation is controlled by the protocols monetary policy, which is determined by the community through decentralized governance.

Deflationary mechanisms are interwoven into the tokenomics while creating the ecosystem. Where tokens have an unlimited supply, as the token ecosystem matures, there would be more opportunities for burn. Therefore, the organization managing the token must proactively identify these opportunities and embed them into the tokenomics to reduce the supply.

The Ethereum Merge is a fine example of how the Ethereum supply and demand was tweaked to make it deflationary. Such significant tokenomics changes are typically proposed, approved and executed by a decentralized autonomous organization (DAO) that governs the token and the platform behind it.

These tokenomics changes are then embedded into smart contracts as the rules of the ecosystem. Smart contracts drive the new business rules and the economic model of the ecosystem. As a result, DAOs could play a significant role in ensuring efficient and effective governance of the tokens.

Since decentralization is one of the tenets of the blockchain world, an economic system not controlled by the founding teams, investors, venture capitalists and whales is crucial to delivering sustainable tokenomics based on sound business models.

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Ethereum as a deflationary asset, explained - Cointelegraph

The deceitful world of online betting and gambling has long discredited itself. In addition to unfavorable conditions for players, gaming platforms and bookmakers do not hesitate to simply appropriate user funds. Lets take a look at how blockchain technology solves these issues through the example of CryptoCubes.

If we take a list of the drawbacks of the classic gambling and betting sector and put it next to a list of problems that blockchain solves thanks to its properties, we will see a 100% intersection. Its as if Satoshi Nakamoto lost his house, car, and beloved cat in a casino and decided to put an end to injustice by creating Bitcoin and starting a trend toward decentralization.

To avoid being just words, lets take a closer look at the drawbacks of betting and gambling that blockchain eliminates. As an example, lets consider the Play-to-Earn project, CryptoCubes.

CryptoCubes is a P2E project with elements of betting built on the Tron blockchain. The projects goal is to build a truly transparent game with simple rules and equal conditions for each participant. At the same time, the platform positions itself as a social game where participants can bluff, manipulate, and use their strategies to win.

The main achievement of the platform is that it provides players with the opportunity to compete with each other instead of thinking, Will the project team cheat me? Thanks to the properties of the blockchain, the need for trust disappears. But what are these properties? Lets take a closer look.

The main ideas of blockchain are decentralization, privacy, and transparency. Each of these properties helps to solve many problems in the gambling industry.

Decentralization speaks for itself: no control center makes decisions without taking into account the opinions of other network participants. By introducing this property into betting and gambling, blockchain makes life easier for players: there is no need to fear unwarranted account blocking, freezing of accounts, or other sanctions by the platform.

Privacy is another property of blockchain-based projects. Players do not need to disclose personal information or confirm their identity by providing documents to participate in the game. For example, to participate in the game on the CryptoCubes platform, a user only needs a cryptocurrency wallet. This could be TronWallet or Ledger.

Transparency is catastrophically lacking in Web 2.0 gambling games. In games built on the blockchain, the situation is the opposite. All transactions and actions performed during the game are recorded in the blockchain and remain there forever. No one can change or delete them. Thanks to thousands of nodes verifying transactions, any attempts to add false data will be noticed and removed, and validators who tried to add them will be blocked.

All of the above is a game changer and takes away from traditional gaming platform holders the tools of manipulation. It will no longer be possible to rig the slot machine, close access to the site during the game, or block the account of a lucky winner. The only thing that keeps centralized gambling afloat is the lack of understanding of blockchain technology and the fear of the new among many people.

There are many drawbacks to the WEB 2.0 gambling segment. They mostly play into the hands of dishonest founders of gaming platforms and take away practically all chances of winning for players. But thanks to the implementation of blockchain in the betting and gambling segments, the gambling industry has a chance to rid itself of the SCAM label. After all, become a transparent and fair entertainment class that gives equal chances to every player.

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Betting on the Tron blockchain led by CryptoCubes - Crypto Reporter

When the stock market faces turbulence, investors often look to an alternative haven for their capital - GoldContinuous Contract (Comex:GCW00).

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

Its reputation as a reliable asset has solidified its role in times of economic instability. Investors flock to this precious metal due to its ability to remain or even appreciate during periods of unpredictability.

For years, Gold has been considered a reliable store of wealth in uncertain times.

However, with the rise of digital assets like Bitcoin(CRYPTO: BTC) and other cryptocurrencies to prominence over recent months - especially amidst increased concern about banks on unsteady ground such as Silicon Valley Bank(NASDAQ:SIVB) - many investors are beginning to look towards cryptocurrency markets for greater security when safeguarding their financial future.

Gold and cryptocurrencies represent two distinct asset types, one physical and the other digital.

Bitcoin holds a special place in cryptocurrency history as it was first released back in 2008 by Satoshi Nakamoto with no need for central banking intermediaries during transactions.

This led to the launch of the worlds initial cryptocurrency exchange platform shortly after allowing people around the globe to trade virtual currencies such as Bitcoin.

Investments in these secure havens exhibit varying performances on the charts, adding a layer of intrigue to their financial landscape.

During the decade between 2001 and 2011, Gold experienced an impressive 630% growth in value - from $250 to its historical peak of over $1,900.

Since then it has endured a long consolidation period where price fluctuations were minor. However, this stability ensured that their investment was preserved against any decreased valuation risk for investors.

Surprisingly, the current value of Gold has surpassed its highest peak from 11 years ago by a mere 2.60%. This may not be the most lucrative option for investors seeking substantial capital growth.

In a remarkable divergence between asset classes, Bitcoin has skyrocketed by an astounding 584,917% over the past 11 years, leaving traditional investments in the dust.

Despite a 59% plunge from its all-time high, Bitcoin has witnessed an impressive 42% rise in March following the collapse of various banks. Gold has also experienced a 9% ascent during the same period.

Meanwhile, the stock market seems to be facing a downward trajectory, with the Dow Jones dropping 3%. The financial landscape displays an intriguing interplay between these diverse investment options.

While Bitcoin tends to ride a rollercoaster of fluctuation, its track record showcases its impressive capacity for accelerated and substantial growth.

Gold is a steady asset that provides reliable security and peace of mind. Over an extended period, this precious metal has demonstrated consistent growth, proving it to be a dependable safe haven when you need reassurance the most.

After the closing bell on Friday, March 17, Gold closed at $1988.50, trading up by 3.49%. Bitcoin closed at $28054.00, trading up 3.96%.

2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Gold Vs. Bitcoin: Delving Into Diverse Investment Strategies For Weathering Turbulent Market Conditions A - Benzinga

Bitcoin experts Joshua Henslee, Jackson Laskey, Zack Weiner, and Rafa Jimenez discussed AI and its potential integration with blockchain technology in the latest CoinGeek RoundTable. As youll soon see, there are some extremely exciting possibilities ahead.

Introducing the Roundtable participants

Joshua Henslee probably needs no introduction to regular CoinGeek readers. Hes a BSV thought leader and developer with a fast-growing YouTube channel covering BSV. He has also created some BSV applications likeWindbell.

Jackson Laskey is the founder and CEO ofAsset Layera platform for creating NFTs as well as integrating and sharing them across platforms. He was one of the founding members of Unbounded Capital and has been in the BSV space for half a decade.

Zack Weiner is the founder of VXTech, the firm that built MagicDapp.io as well as many other applications. Weiner also recently launchedAskHapi.comto allow anyone to utilize AI via micropayments.

Rafa Jimenez is the CTO and co-founder ofHandCashone of the most popular wallets for BSV. He also has some background in AI, having worked in industries like autonomous driving and more.

How can AI integrate with blockchain technology?

Laskey tackles this question first, saying AI right now is all about taking old data and using it to create new data. He thinks blockchain can help get insight into the input data, helping us understand what that data is, where its from, and pay the rights holders. He points to the Haste Arcade Instant Leaderboard Payouts as an example of how people might be paid for their data.

Weiner agrees but takes a different approach to the question. Hes a big believer in the authenticity and integrity of data. He sees a world where AI models sign their outputs so that consumers can evaluate the outputs of specific models. This will grow increasingly important as AI models proliferate.

Jimenez says blockchain can help with the monetization of AI-powered services. Its an obvious use case fornano and micropaymentsas an alternative to subscription models. When users still arent sure how much value these services can provide, they may be reluctant to commit, and the type of small, casual payments Satoshi Nakamoto spoke about when he released Bitcoin can bridge the gap.

Whats the primary use case for AI that could integrate blockchain technology?

Laskey imagines a world where there are a handful of AI models that are general-purpose and truly dominant. However, were likely to see a wide proliferation of different models. This could pose a challenge for people who have to interact with many different models. The more models that proliferate, the more it will be necessary to have both data integrity, as mentioned previously by Weiner, and micropayment models, as mentioned by Jimenez.

Weiner says that, on AskHapi.com, there are two modalities: text and images. Focusing on imagery, five or six models are tailored to output a specific type of image, such as anime images, realistic ones, tiny photos, and so on. He sees a future where model creators utilize the blockchain to create business models to incentivize people to come and check out their models. Again, small, casual transactions come into play here. He points out that many people dont even havecredit cards, who wont be able to subscribe to things like ChatGPT, who will benefit from this.

Jimenez highlights that the marriage of these two technologies makes it much easier for developers to experiment, pulling together different elements both quickly and easily. This will lead to exponential adoption growth and many new opportunities. Jimenez doesnt think people fully grasp the impact all of this will have.

The participants agree that this technology will create new roles. For example, social media managers did not exist in the 1980s, but today, every company has one. Likewise, many new roles will be created by AI, such as sourcing data, cleaning it up, and figuring out where micropayments need to go to compensate the owners of said data. Being able to track the data to its origin is extremely valuable.

How are the roundtable guests integrating AI technology into their companies?

Laskey answers that Asset Layer, while a general-purpose NFT platform, has a specific love for games. He acknowledges that theres a lot more going into creating assets for games, and his firm has done so to generate items inDuro Dogs. Laskey says that, right now, the models need to be more precise to generate assets that plug directly into Duro Dogs; their internal artists still have to work on them. Overall, he says AI has accelerated their process.

Weiner doesnt think AI has a place in Magic Dapp just yet. For him, this is about people and companies being able to store data in a provable way forever. However, he thinks AI becomes relevant for applications like BitChat Nitro, which now has a personality inside it that can answer questions relevant to smart contracts built on Bitcoin SV. He sees a great business opportunity in this; training specific AI models closer to truthiness.

Jimenez says HandCash is not integratingAI broadly in its business. Theyre focused on helping people experiment and understand they have a monetization alternative. Answering a viewer question, he agrees that logging in with HandCash could be equivalent to logging into apps with their own AI API key.

Is it possible that in the future, every AI query, update, etc., will be mapped to a Bitcoin transaction?

Henslee tackles this question first. He says the answer to the viewers question is that it can be done trivially. You can take inputs, hash them, put them on-chain, and allow someone to prove they created specific prompts. While it can be done, there has to be a business use case for it.

Weiner says that the number of transactions required to do this will certainly need a big block blockchain. However, he says its probably a bit soon to consider doing this right now.

Should AI have mandatory pay channels so it doesnt go full SkyNet?

Jimenez answers that whether AI needs some regulations or control is a hot topic and is extremely complex. However, bad guys dont care about the rules, and they wont be able to stop them.

Laskey wonders what an AI that escapes its black box could do. Theres this concept that a superintelligence could take over the world, but hes skeptical.

Henslee does think there needs to be some control. He notes that there are good and bad in every tool. He worries it could become the all-seeing big brother.

Weiner notes there are two ways an AI can refuse to answer a question; it can be polite, and it can be rude and brash if you push it, too. He thinks the technology will progress faster than checks and balances can be put in place. Therefore, it will be up to the consumer to decide who to pay and fund via subscriptions and payments.

Check out the previous Roundtable videos on CoinGeeks YouTube channel.

New to Bitcoin? Check out CoinGeeksBitcoin for Beginnerssection, the ultimate resource guide to learn more about Bitcoinas originally envisioned by Satoshi Nakamotoand blockchain.

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Bitcoin experts discuss AI, ChatGPT and Blockchain on CoinGeek ... - CoinGeek

Elon Musk and his Twitter tweets are no new phenomenon to take an otherwise banal day and make it interesting. Whether it is his attempt to establish a town as his legacy, or him entering the microblogging site Twitter's headquarters with a ceramic sink in hand, Elon Musk and his chicane existence is sure to make the news every other day.

Elon Musk and his Twitter tweets are no new phenomenon to take an otherwise banal day and make it interesting. Whether it is his attempt to establish a town as his legacy, or him entering the microblogging site Twitter's headquarters with a ceramic sink in hand, Elon Musk and his chicane existence is sure to make the news every other day.

The latest take was with American singer and songwriter Taylor Swift. The musician who has just began her The Eras Tour in the United States on 17 March, has taken over the trending section on twitter, with her fans sharing clippings and videos of her performance.

The latest take was with American singer and songwriter Taylor Swift. The musician who has just began her The Eras Tour in the United States on 17 March, has taken over the trending section on twitter, with her fans sharing clippings and videos of her performance.

A fan and Dogecoin founder Billy Markus, who goes by the name Satoshi Nakamoto, also took to Twitter to say, "Taylor Swift rules and if you disagree youll be kicked off the internet Im pretty sure". However Elon Musk was quick to react to the Tweet. Musk's tweet left many wondering what he was talking about.

A fan and Dogecoin founder Billy Markus, who goes by the name Satoshi Nakamoto, also took to Twitter to say, "Taylor Swift rules and if you disagree youll be kicked off the internet Im pretty sure". However Elon Musk was quick to react to the Tweet. Musk's tweet left many wondering what he was talking about.

Replying to Markus's tweet on Swift, Musk wrote, "Her limbic resonance skill is exceptional."

Replying to Markus's tweet on Swift, Musk wrote, "Her limbic resonance skill is exceptional."

Elon Musk's comment sparked hilarious reactions online with many fans even saying that he is stalking her and should stay away from her.

Elon Musk's comment sparked hilarious reactions online with many fans even saying that he is stalking her and should stay away from her.

It turns out Elon Musk had not commented on Taylor Swift's status for the first time. The Twitter and Tesla CEO had previously commented on the main post of Taylor Swift with a cigarette emoticon.

It turns out Elon Musk had not commented on Taylor Swift's status for the first time. The Twitter and Tesla CEO had previously commented on the main post of Taylor Swift with a cigarette emoticon.

The Eras Tour Twitter handle wrote under Elon's cigarette emoticon comment: "Leave her alone" A fan commented, "Elon have you considered dating Taylor Swift? The breakup album would be legendary." Another comment read, "You are right but stop talking about her."

The Eras Tour Twitter handle wrote under Elon's cigarette emoticon comment: "Leave her alone" A fan commented, "Elon have you considered dating Taylor Swift? The breakup album would be legendary." Another comment read, "You are right but stop talking about her."

Taylor hasn't publicly responded to Elon's comment yet. Meanwhile she opened the tour with the song Miss Americana and The Heartbreak Prince, at State Farm Stadium near Phoenix, with a set total of 44 songs over a span of three hours and 15 minutes.

Taylor hasn't publicly responded to Elon's comment yet. Meanwhile she opened the tour with the song Miss Americana and The Heartbreak Prince, at State Farm Stadium near Phoenix, with a set total of 44 songs over a span of three hours and 15 minutes.

According to the website Psych Mechanics, limbic resonance has been defined as a state of deep emotional and physiological connection between two people. The limbic system in the brain is the seat of emotions. When two people are in limbic resonance, their limbic systems are in tune with each other." It points to the idea of catching another persons emotions.

According to the website Psych Mechanics, limbic resonance has been defined as a state of deep emotional and physiological connection between two people. The limbic system in the brain is the seat of emotions. When two people are in limbic resonance, their limbic systems are in tune with each other." It points to the idea of catching another persons emotions.

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Elon Musk tweets about Taylor Swift's limbic resonance skill, angers Swifties. Here's why | Mint - Mint