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The NFT/web3/shitcoin grifters had their bubble burst, so now they're gravitating towards AI.
by isoprophlex 3y ago
The NFT/web3/shitcoin grifters had their bubble burst, so now they're gravitating towards AI.
- kalium-xyz 3y agoThey already owned the video cards. Might as Well
- HPsquared 3y agoNvidia seems to be doing pretty well, at least.
- TeMPOraL 3y agoWe always thought dangerous AIs will be funded by the military, or out of internal R&D budgets of evil multinational megacorps-that-do-everything. Turns out instead it's all been funded by grifters and scammers, both large and small. Literally. It's not DARPA or some Umbrella Corporation, but the advertising companies that did all the AI R&D, while shitcoiners spent a decade unintentionally funding the hardware AI needs. Strange reality we live in.
- yowlingcat 3y agoIf you told me a decade ago that this is where we would land, I would tell you to at least make the lie a bit more believable. And yet here we are! Strange times indeed.
- ElevenLathe 3y agoAgreed, it feels very Stross-ian.
- classified 3y agoSelling shovels makes you the most money in a gold rush.
- cbm-vic-20 3y agoI've never seen the historic mansions of shovel sellers. I've seen many of railroad owners.
- muzani 3y agoWell, check out the insane profits (not just revenue) NVIDIA has made this year. That profit margin can fit quite a few mansions as well as the biggest AI companies. People are joking about the crypto bros funding it, but the leap in profit suggests it's not crypto fueled at all.
- kridsdale3 3y agoA railroad is on the continuum that has shovels in it. The job is to get ore from the mine in to a processor. 1. Use you hands 2. Use a pick or shovel in to a bucket and carry it 3. Use a wheelbarrow 4. Use a mine cart 5. Put a steam engine on your minecart
- danielbln 3y agoI hate this take, no matter how often it's repeated. Yes there is hype fever pitch around AI, yes it attracts grifters (as does every hype), but in comparison to crypto, at the very least gen AI provides tractable benefits in a wide array of usecases. What has nft/web3/x-coins ever given us apart from speculative investments (aka gambling)?
- thesuperbigfrog 3y ago>> What has nft/web3/x-coins ever given us apart from speculative investments (aka gambling)? Cryptocurrencies modernized the malware industry. Before cryptocurrencies, ransomware used to require victims to pay using gift cards or other ridiculous means. After cryptocurrencies, victims could now pay their "captors" directly over the Internet in cryptocurrency. Before cryptocurrencies, malware entities and actors acted largely independently unless they were part of a state-sponsored group or larger organized crime "business". After cryptocurrencies, "ransomware as a service" emerged where different groups specialize in particular components and services of ransomware: tools to establish footholds, tools to take over and encrypt victim systems, services to demand and take payments, and services to wash and launder payments. Payments between these groups are made in cryptocurrency.
- swalsh 3y agoThe last bull saw the rise of all kinds of new technologies which will enable the use cases people were talking about (Avalanche is my favorite example, but theres some new stuff like SUI coming). The thing web3 did absolutely right is create a true interchangeable format (ie tokens) the downside is this technology has been developing sooooooo slowly. Whenever people start to get hope the technology might be ready for use, the gambling use cases rise to the top and dominate. I think crypto is also dominated by a certain hardline techy. Or at least it's critics are. Crypto should be working side by side with traditional finance. Instead they view it as their enemy. FTX US is an example of how regulation can be good (the funds on FTX-US were more or less unmolested) yet most crypto people seem to argue against any regulation at all. It will be their demise.