As we watch the stock market falter and trillion dollar companies deflate back into mere 9 figure juggernauts, we can rest assured that the next big thing is on the way. It might not be this year or next but soon enough it will be here.
Artificial intelligence (AI) will be one of the next boom bubble busts and it’s starting to kick off now.
I’ve never been a big fan of AI but now at least it is a “thing.” It is beating humans at chess, directing phone calls, translating speech and I’m sure a whole list of other thing public and private.
Take a look at this article: Crypto’s Systemic Collapse
It’s been a tough few weeks for crypto. The prices of Bitcoin BTC and Ethereum ETH have been in free fall, and the total market capitalization of all cryptocurrencies has shrunk from over $830 billion to less than $330 billion. This represents a loss of over 60% from the peak.
Many people are wondering if this is the end of crypto, or if this is just a temporary setback. In this blog post, we’ll take a look at some of the factors that have led to the current state of affairs, and try to come to a conclusion about what the future holds for crypto.
The first factor that we need to consider is the overall health of the crypto market. In general, markets go through cycles of boom and bust. The crypto market is no different. We’ve seen this happen before, in 2017 and 2018. Prices shot up to unsustainable levels, only to come crashing down again.
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One key difference between now and then is that the infrastructure around crypto is much better developed now than it was in 2017-2018. Back then, there were very few exchanges and wallets that allowed people to buy, sell, and store cryptocurrencies. Nowadays, there are many high-quality exchanges and wallets available. This gives us reason to believe that the current downturn may not be as severe as the one in 2018.
Another factor to consider is government regulation. In 2018, we saw several countries introduce strict regulations around crypto trading and ICOs (initial coin offerings). These regulations made it difficult for many people to trade cryptocurrencies, and they also made it harder for new projects to raise money through ICOs.
This time around, governments have been much more supportive of crypto. For example, China recently announced that it would allow banks and payment companies to provide services related to cryptocurrency trading. This change in attitude could lead to more people getting involved in crypto, which would provide support for prices.
So, what does the future hold for crypto? It’s impossible to say for sure. However, we believe that the current downturn is not as severe as the one in 2018, and that government regulation will continue to be supportive of crypto rather than hostile. This means that there’s a good chance that prices will rebound in the near future. Only time will tell though!
I didn’t write this. An AI called Jasper did, which I have a free trial on for a few days. I simply picked three words to describe the article, “crypto systemic collapse, and off it went and wrote the above.
It is certainly spam as far as I’m concerned but it’s as insightful as many NI (natural intelligence) articles I read and frankly I’m impressed. It could certainly be easily sprinkled with some real insight, a couple of weak British jokes and have its numbers fixed. Who would know it wasn’t me if it wasn’t for the fact that the grammar is better?
Heaven knows what this does for news and journalism in due course but I feel at this stage while it doesn’t add much value for the reader it might make perfect sense for a site wanting to create swathes of Google-baiting SEO material.
That doesn’t matter, however, robots plus AI equal another giant leap for mankind for all that the luddites will say about it destroying jobs for the hard-working proletariat. It really will be the next leap forwards.
AI plus robotics is just around the next market cycle corner so don’t forget to jump on it early after the current rout runs its course. It’s going to be big.
Some of the leading companies in AI:
Salesforce (CRM) develops artificial intelligence for customer relationship management (market cap $152.24 billion).
SenseTime builds AI technologies for business operations, smart cities, smart homes, and smart cars. (market cap $61.917 billion)
DeepMind (made a $63 million pre-tax profit in 2020) is an AI research and development company that operates as a subsidiary of Alphabet.
IBM IBM : The company’s core offering is IBM Watson, an AI-based cognitive service, AI software as a service, and scale-out systems designed for delivering cloud-based analytics and AI services. (market cap $134.49 billion).