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I'm using AI techniques to summarize articles, yours was particularly interesting due to its complexity. Let me know what you think of the summary:
https://cyberbunny.substack.com/p/is-ai-the-new-crypto
Also this is my human response:
This is one of the best articles on the topic of AI and crypto that I have ever read.
I only disagree with the portion about crypto being in a "pre-value stage".
I notice crypto's value isn't obvious to people in richer countries because they are used to having access to highly functional financial networks. As a person that lives and was born in Latin America, I can tell you that crypto has completely changed my life. From not owning any financial asset to owning many, mostly on-chain assets, and flying from one vip lounge at an airport to the next.
Money is a technology that has more users than roads or pipes, changing money, contracts and how humans are organized is extremely valuable.
This is what crypto is doing, and it has changed the financial landscape in many developing nations specially, it has also inspired the fintech industry, which didn't exist before Bitcoin, even if crypto would fail as a whole, its impact is already very significant. The Wikipedia on Bitcoin for example shows the many financial systems around the world that took inspiration from it.
Bitcoin also influenced the state of fintech in the US via Jack Dorsey, a huge bitcoiner that drew inspiration from it to build Cashapp and Square, which changed how money moves for american consumers and small businesses, these also ended up being more valuable than Twitter in a shorter time.
I agree that there are a lot of grifters in crypto in the form of scammers, spammers and speculators that simply see/saw crypto as a quick way to make money.
But this is not the essence of crypto. Satoshi Nakamoto hasn't moved billions worth of Bitcoins, never spent a lot of the firstly mint Bitcoin. The pre-2014 state of crypto was more like Satoshi, very idealistic, and cryptography focused.
Zero knowledge proofs and other recent advancements show that new mathematical infrastructure is still being actively discussed, invented and applied in crypto. I also see ZKPs being potentially world-changing technology for increasing privacy, security and trust in systems