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My working hypothesis is that people are dumping Bitcoin for AI adjacent stocks because the hype around agents is growing. There’s no way to prove this, but I’
by woeirua 9mo ago
My working hypothesis is that people are dumping Bitcoin for AI adjacent stocks because the hype around agents is growing.
There’s no way to prove this, but I’m seeing unexpected behaviors on the secondary markets for privately held AI companies.
- jfengel 9mo agoAt least AI produces something. Maybe not what everyone hopes for, but there is some output that people are worth paying for. Cryptocurrency lived entirely in the hopes that people wanted to replace regular money, and it turns out not to be a big use case outside of criminals and refugees. The AI bubble will one day collapse too. But the Bitcoin bubble could just plain vanish.
- anupamchugh 9mo agoNot a big use case outside of criminals and refugees" - the refugee use case alone matters to hundreds of millions living under capital controls or currency collapse. Argentinians escaping peso devaluation aren't criminals. Ukrainians moving value during invasion aren't edge cases. Whether Bitcoin is good at this is debatable. Whether it's a real use case isn't.