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Weird how ChatGPT popped up as a newly hyped Next Big Thing just as crypto crashed. Probably not worth thinking about.

by smcl 4y ago

ur-whale 4y ago
> just as crypto crashed Did crypto crash? Last I looked BTC was at 20K USD a pop ... strange definition of a crash for something that used to trade below a dollar.
- smcl 4y ago
  Crypto boomed, had billions sunk into it and has had multiple high profile implosions. Yes it has absolutely crashed.
  - arthurcolle 4y ago
    Crypto market cap is still around ~1T USD
    - smcl 4y ago
      If you want to be part of it do not let me stop you.
  - ur-whale 4y ago
    > Crypto boomed, had billions sunk into it and has had multiple high profile implosions Same thing it's been doing every year since 2011. Yet BTC is still trading at 20k USD ... I'm not sure we have the same definition of the word "crash". But whatever floats your boat, man.
    - smcl 4y ago
      May your investment go To The Moon
- manquer 4y ago
  Crashes don’t mean terminal. If the dollar (or any other currency)lost 70% of its value in less than a year then we would certainly say it crashed
  - ur-whale 4y ago
    Disagree. At this point, BTC is very much known for its extremely high volatility (source: look at the price history since inception). There hasn't been a single year since it launched where it hasn't displayed outrageously wild swings: at this point, it's pretty clear that the wild volatility is an intrinsic attribute of this particular asset class. Therefore: not a crash, just Bitcoin's business as usual.
    - manquer 4y ago
      Crashes don’t have to be rare either- frequency does not negate them from being crashes you can start by seeing some of the the accepted definitions here [1] While you may have expected crashes in bitcoin to be that hard (good for you) most investors, dozens of high profile funds/exchanges/crypto businesses did not expect bitcoin to fall to 20k USD and have failed. [1] https://en.m.wikipedia.org/wiki/Stock_market_crash https://en.m.wikipedia.org/wiki/Stock_market_crash
root_axis 4y ago
The connection is purely superficial, LLMs and cryptocurrency are two completely different technologies, hype is always going to exist with every popular technology, we need to be able to look at something and evaluate it on its own merit rather than as a function of how popular it is.
- smcl 4y ago
  Oh don’t get me wrong both crypto and LLMs are interesting. I am just a little dubious how much money and attention suddenly flowed into one and then later out (followed by bankruptcies and lawsuits), then into another. We will see.
- vba616 4y ago
  >LLMs and cryptocurrency are two completely different technologies As mind viruses operating on human brains, they do not seem completely different technologies.

Weird how ChatGPT popped up as a newly hyped Next Big Thing just as crypto crashed. Probably not worth thinking about.

by smcl 4y ago

Weird how ChatGPT popped up as a newly hyped Next Big Thing just as crypto crashed. Probably not worth thinking about.

> just as crypto crashed Did crypto crash? Last I looked BTC was at 20K USD a pop ... strange definition of a crash for something that used to trade below a dollar.

smcl 4y ago
Crypto boomed, had billions sunk into it and has had multiple high profile implosions. Yes it has absolutely crashed.
- arthurcolle 4y ago
  Crypto market cap is still around ~1T USD
  - smcl 4y ago
    If you want to be part of it do not let me stop you.
- ur-whale 4y ago
  > Crypto boomed, had billions sunk into it and has had multiple high profile implosions Same thing it's been doing every year since 2011. Yet BTC is still trading at 20k USD ... I'm not sure we have the same definition of the word "crash". But whatever floats your boat, man.
  - smcl 4y ago
    May your investment go To The Moon
manquer 4y ago
Crashes don’t mean terminal. If the dollar (or any other currency)lost 70% of its value in less than a year then we would certainly say it crashed
- ur-whale 4y ago
  Disagree. At this point, BTC is very much known for its extremely high volatility (source: look at the price history since inception). There hasn't been a single year since it launched where it hasn't displayed outrageously wild swings: at this point, it's pretty clear that the wild volatility is an intrinsic attribute of this particular asset class. Therefore: not a crash, just Bitcoin's business as usual.
  - manquer 4y ago
    Crashes don’t have to be rare either- frequency does not negate them from being crashes you can start by seeing some of the the accepted definitions here [1] While you may have expected crashes in bitcoin to be that hard (good for you) most investors, dozens of high profile funds/exchanges/crypto businesses did not expect bitcoin to fall to 20k USD and have failed. [1] https://en.m.wikipedia.org/wiki/Stock_market_crash https://en.m.wikipedia.org/wiki/Stock_market_crash

root_axis 4y ago

The connection is purely superficial, LLMs and cryptocurrency are two completely different technologies, hype is always going to exist with every popular technology, we need to be able to look at something and evaluate it on its own merit rather than as a function of how popular it is.

smcl 4y ago
Oh don’t get me wrong both crypto and LLMs are interesting. I am just a little dubious how much money and attention suddenly flowed into one and then later out (followed by bankruptcies and lawsuits), then into another. We will see.
vba616 4y ago
>LLMs and cryptocurrency are two completely different technologies As mind viruses operating on human brains, they do not seem completely different technologies.