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Comment Re: Winning! (Score 1) 102

The stock market is not a zero sum game. You invest in companies that have useful economic activity, and get a share of their profits as dividends.

Fair point, but there are a lot of large and influential companies that don't pay any dividends, because they invest their profits directly into growth and development. For example Nvidia.... well, they seem to pay 0.03 % of the current stock price, so essentially zero. The only economically sensible reason to invest in them is speculation; if there's some "useful economic activity" involved, the only way you'll get a piece of it is by buying low and selling high.

With cryptocurrency, the only thing you have is capital appreciation. There is no social utility. Even commodities like gold that also aren't income producing still have industrial uses, and are not purely speculative.

Cryptocurrencies have the same utility as banks, and many banks have been working on their own blockchains for years, for example JP Morgan: https://fintechmagazine.com/ar...

The stock market comparison is really just a side effect of what cryptocurrencies are all about, which is transferring money in ways that traditional banks can't do -- pseudonymously and independent of governments or businesses. Store of value and speculation is one thing, but you can't send NVDA shares (or gold, or tulips) across the globe with this kind of speed and freedom. Cryptocurrencies have value because they provide this service, you don't really pay just for the store of value.

Comment Re:dust (Score 1) 86

If you were using iron you might be able to get similar effects by inductive heating once you delivered them to the target area; you absolutely could destroy cells in the immediate proximity that way

Inductive heating of gold nanoparticles is a thing in cancer research, e.g. https://pubmed.ncbi.nlm.nih.go...

Comment Re:Winning! (Score 1) 102

All money made from bitcoin was lost by someone else. The total value of winners and losers is identical. It isn't an investment where capital is used to make money. It is a legal Ponzi scheme were winners are paid for by the losers. It is just that some people don't realize they are the losers yet.

So it's just like the regular stock market.

Comment Re:What is HUMAN intelligence? (Score 1) 206

The history of AI is all about modeling human intelligence, just like the models we have in natural sciences. If the model happens to be a very good match with reality, we may sometimes mistake one for the other. OTOH, they may be the same thing for all practical purposes.

I'm not sure if I have any deeper intelligence than a fancy language model. When we say that LLMs don't really understand things, then what exactly do we mean by understanding? In my personal definition, the meaning of something is simply the graph of its associated things. I consider something very meaningful if the graph has a lot of nodes and edges, and this also explains why simple things gain more meaning as we age.

Comment Re:Remember when back in the day (Score 1) 76

Stupid question mayhap, but isn't whether this stuff is OR isn't copyright infringement still in the air, being battled out in the courts?

Well, if it's OK for a business to freely use copyrighted material for their commercial, for-profit purposes, then it throws out all arguments against non-commercial, non-profit "piracy". In other words, the court cases make a great test for the whole idea of copyright — they can't have their cake and eat it too.

Comment Re:That's nothing (Score 1) 76

Just wait until AIs start mining Bitcoin so they can buy stuff.

How would an AI mine Bitcoin? Two extremes come to mind:

(a) It uses a language model to compute SHA2-256 hashes "by hand", and starts demanding more data centers to make a decent buck.

(b) It figures out a vulnerability in SHA2-256 and takes over the network.

Comment Remember when back in the day (Score 1) 76

you were told not to (a) copy that floppy and (b) waste precious energy on cryptocurrency mining. But when big companies are building data centers for industrial-scale copyright infringement, it's suddenly OK. Because it's "busyness" done by white men in uncomfortable suits, not by idealistic young hobbyists.

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