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High Frequency Trading is in the regular stock market and has a larger barrier to enter
by ojr 9y ago
High Frequency Trading is in the regular stock market and has a larger barrier to enter
- gooseus 9y agoRight, but stocks weren't invented and sold to the digital community as a currency. Is that no longer a thing? Does the cryptocurrency community acknowledge that their product is just a big gambling machine requiring the energy a medium country? I recently was listening to a podcast (Sam Harris maybe?) where they were talking about the possibility of super intelligent AI being set to a complex task... but then finds itself spending some huge amount of resources churning out paperclips because of some erroneous assumptions about their value to solution. If we're the super intelligent AI designed by some other "real" intelligence for a purpose, I'd say cryptocurrency is our paperclip moment.
- yorwba 9y agoThe paperclip story is usually about an AI whose purpose is in fact to make paperclips, but it realizes that it can only create maximum paperclips if it prevents anyone from ever shutting it off. Then it solves the problem of subjugating humanity as an auxiliary task for the much more important goal of creating more paperclips. To stay with the analogy, cryptocurrency may be such an auxiliary task for the actual goal (whatever that is, I'm not really convinced that Coherent Extrapolated Volition can be made to work). There's an interesting game about the paperclip optimizer that was submitted to HN recently: http://www.decisionproblem.com/paperclips/index2.html http://www.decisionproblem.com/paperclips/index2.html
- ojr 9y agoThe fundamentals of the market demand for Bitcoin works, the liquidity is amazing