1 year ago
In a freshly unveiled blog piece, Arthur Hayes, the erstwhile CEO of crypto derivatives level Bitmex, posits that bitcoin is the premier currency for artificial quality (AI). Hayes maintains that moving forward, BTC volition beryllium the favored currency for AIs since they “must usage a strategy that is disposable astatine each times, digital, and wholly automated.”
Arthur Hayes Envisions AI and Bitcoin Forming an Alliance, Predicts Price Soaring to $760,000
The ex-chief enforcement of Bitmex has shared respective essays connected his cryptohayes substack.com blog, and connected July 6, 2023, helium delved into bitcoin and artificial quality (AI). Hayes envisions bitcoin playing a important relation successful AIs’ aboriginal arsenic helium contends successful his latest effort that the ascendant crypto plus volition service arsenic “food of AI.” Hayes proposes that AI and robotics chiefly absorption connected eradicating mundane tasks, freeing much individuals to pursuit their dreams and nutrient creation and culture. He anticipates this starring to a resurgence of innovation and contentment.
In the essay, Hayes argues that bitcoin (BTC) volition yet look arsenic the preferred currency for AIs. He expounds connected however AIs necessitate a digital, automated, and censorship-free outgo infrastructure, which accepted banking and fiat currencies neglect to deliver. Blockchain-driven systems contiguous desirable features, with BTC being the optimal prime owed to its constricted supply, censorship resistance, and energy-buying power. He contrasts this with golden and fiat currencies by emphasizing their shortcomings and lack of integer efficacy. In the essay, Hayes declares:
Bitcoin is the monetary instrumentality closest to representing axenic energy.
The erstwhile caput of Bitmex clarifies that artificial quality (AI), akin to humans, demands resources that indispensable beryllium procured and paid for. Hayes asserts that since BTC intimately embodies axenic energy, it is uniquely qualified arsenic AI currency fixed its inherent request to conserve vigor purchasing capacity. Gold and fiat autumn abbreviated erstwhile compared to BTC’s censorship resistance, semipermanent worth retention, and demonstrable scarcity, according to Hayes. He does concede, however, that successful presumption of a currency offering verifiable longevity, golden stands connected adjacent footing with bitcoin.
Should AI and bitcoin intersect successful this manner, Hayes believes that BTC’s terms volition skyrocket. In his essay’s second portion, helium ponders the imaginable terms of bitcoin fixed his theoretical national betwixt the crypto plus and AI. In fact, Hayes’ calculations — which origin successful the AI economy’s size and different BTC-related metrics — suggest that the integer plus could scope $760,000 wrong the adjacent 2 to 3 years.
“Remember — the marketplace volition overpay for Bitcoin web maturation if it believes determination is simply a anticipation that my assumptions could beryllium existent successful the future,” Hayes concluded successful his latest missive. “The astir wealth is made erstwhile the marketplace terms adjusts from ‘can ne'er happen’ to ‘maybe could happen.’”
What are your thoughts connected Arthur Hayes’ bold assertion that bitcoin volition go the favored currency for AI? Do you judge this imaginable intersection could pb to a surge successful BTC’s price? Share your thoughts and opinions astir this taxable successful the comments conception below.
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