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Crypto has been one of the largest wealth transfers ever seen. With the level of criminality e.g insider trading, rug pulling, money laundering being unpreceden

Crypto has been one of the largest wealth transfers ever seen. With the level of criminality e.g insider trading, rug pulling, money laundering being unprecedented for a new technology i.e. https://www.chainalysis.com/blog/2024-crypto-money-laundering/ https://www.chainalysis.com/blog/2024-crypto-money-launderin... AI has seen the less well-off parts of society e.g. artists, customer service lose work in favour of making productivity higher for knowledge workers etc.

ghiculescu 2y ago
The deep irony is that your critique of AI is exactly Trump’s critique of globalization, just with different people impacted.
CaptainFever 2y ago
To be fair, whether or not this is "more harm than good" depends on your moral views. > Crypto has been one of the largest wealth transfers ever seen. Need a citation for this. > With the level of criminality e.g insider trading, rug pulling, money laundering being unprecedented for a new technology Not all crime is bad. I just so happen to belong to a marginalized group that requires crypto to do financial activities (e.g. commissions, donations for activist fronts). I am grateful for crypto's existence, even though like many (even in the crypto community), scams are disliked. > artists, customer service lose work in favour of making productivity higher for knowledge workers etc It is true that automation in general seems to increase inequality amongst education lines [1]. But the solution isn't to ban automation, it's to have equal-opportunity education (e.g. subsidies, retraining for obsoleted workers) and to financially support those that get left behind. [1] https://www.reddit.com/r/Economics/wiki/faq_automation/#wiki_5.29_automation.27s_effect_on_your_income_seems_to_depend_on_education https://www.reddit.com/r/Economics/wiki/faq_automation/#wiki...

ghiculescu 2y ago

The deep irony is that your critique of AI is exactly Trump’s critique of globalization, just with different people impacted.

CaptainFever 2y ago

To be fair, whether or not this is "more harm than good" depends on your moral views. > Crypto has been one of the largest wealth transfers ever seen. Need a citation for this. > With the level of criminality e.g insider trading, rug pulling, money laundering being unprecedented for a new technology Not all crime is bad. I just so happen to belong to a marginalized group that requires crypto to do financial activities (e.g. commissions, donations for activist fronts). I am grateful for crypto's existence, even though like many (even in the crypto community), scams are disliked. > artists, customer service lose work in favour of making productivity higher for knowledge workers etc It is true that automation in general seems to increase inequality amongst education lines [1]. But the solution isn't to ban automation, it's to have equal-opportunity education (e.g. subsidies, retraining for obsoleted workers) and to financially support those that get left behind. [1] https://www.reddit.com/r/Economics/wiki/faq_automation/#wiki_5.29_automation.27s_effect_on_your_income_seems_to_depend_on_education https://www.reddit.com/r/Economics/wiki/faq_automation/#wiki...