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NFTs are stupid. But I have a feeling as governments default on their debt and economies collapse in the next few decades cryptocurrencies will be of increasing
by nothinkjustai 6mo ago
NFTs are stupid. But I have a feeling as governments default on their debt and economies collapse in the next few decades cryptocurrencies will be of increasing importance.
- LtWorf 6mo agoCryptocurrencies are now useless, considering how openai and similar companies have enough compute to highjack them and the AI thing might not work out at all…
- OutOfHere 6mo agoThat's 100% nonsense.
- LtWorf 6mo agoThanks for putting the time to articulate why the AI GPUs cannot possibly be used to fork the blockchain and obtain the majority.
- OutOfHere 6mo agoBecause they're needed to run AI. Newer hardware is increasingly specialized for AI too. Moreover, if funds start disappearing, the price will crash, negating the point.
- LtWorf 6mo agoThey're raising the prices for AI, so demand will inevitably lower, freeing up capacity.
- OutOfHere 6mo agoYou're speaking out of your a$$. AI demand is booming; it will keep booming ~10x more every year, so ~1000x more in three years. If the prices are booming, it's to have a more sustainable pricing model.
- LtWorf 6mo ago> it will keep booming ~10x more every year, so ~1000x more in three years LOL. That's some absurd interpolation.
- nothinkjustai 6mo agoI want the drugs you’re on :D
- LtWorf 6mo agoThanks for your deep and clearly thought out reply.
- thephyber 6mo ago(1) Capability is not the same as action. Every police officer in my city COULD murder me with their department issued gun at pretty much any time, but they haven’t. There are multiple reasons why, not the least of which is that _actions have consequences_. Worrying about that scenario is futile. (2) The major cryptocurrencies aren’t as vulnerable to a malicious majority as you seem to think. All of the BTC ATMs, PoS providers, crypto exchanges, etc have strong incentive to ban malicious peers and they can do this soon after they identify the threat. The malicious majority would not be sufficient - they would also have to continually mine their own blocks faster than the rest of the network does. (3) There would be a forked blockchain but only naive nodes which trust by default would continue with the illegitimate fork. Of the nodes who actually USE the cryptocurrency don’t agree with the malicious majority, it will be difficult to get the coins / tokens out of exchanges. (4) The duration of any stolen nodes is the duration of the attack. Once the AI GPUs stop the attack and return to responding to LLM prompts, the legitimate blockchain returns to being the longest one, so all of the network returns to trusting the legitimate blockchain fork. (5) The BTC network is controlled by a protocol agreed to by consensus. If the illegitimate blockchain fork stays longer than the legitimate one, the participants in the market can agree on a protocol change which hardcodes the illegitimate blockchain out of the picture (this happened with the ETH DAO in the early days after a successful double-spend attack).