Bitcoin Forum

I was watching the House Financial Services Committee hearing a few weeks ago and the anti-crypto Congressman Sherman asked "What can you do with cryptocurrencies that you can't do with anything else?." And no one on the panel could provide a decent answer, which bothered me.

I thought about how to convey to people the societal good that cryptocurrencies enable, and I came to the conclusion that AI is the perfect example. AI needs a lot of data to function, so if humanity wants to benefit from it to the maximum extent, all of our data basically needs to be fed to the AI. But who would control this data? and this AI? Whoever it was would have immense power. They would be able to predict the future!

So the question becomes: How can you take advantage of AI without giving up your digital sovereignty... That's where decentralized apps come in.

Cryptocurrencies basically give you the power to run giant companies where no one is in charge, and this is a powerful tool to minimize corruption and the wielding of too much power. With the Facebook fiasco in the news, this is an easy example to give to people. Imagine if Facebook had been decentralized, would network participants have approved their own manipulation at the hands of politicians?

I wrote more about this here for anyone interested: https://cryptograf.io/blog/2018/04/16/Crypto-Ai-and-the-Social-Good/ (https://cryptograf.io/blog/2018/04/16/Crypto-Ai-and-the-Social-Good/)

First of all welcome to the forums! It's refreshing to see insight like this apart from the usual regular spam and shilling that gets posted here daily.

I completely agree that AI would be an excellent use case for crypto. I can however understand the silence in congress because crypto is really still at its infancy stages and how lawmakers probably don't have time to keep updated on the latest tech news. In any case, do you know of any AI projects that are worth investing in?

Thank you for the kind words. I don't know if these specific projects are worth investing in (you will have to DYOR) but here are a couple pursuing this paradigm:
https://www.bottos.org/ (https://www.bottos.org/)
https://synapse.ai/ (https://synapse.ai/)

of its many ai projects are available now, that means ai is very suitable if in combination with crypto and see the signature I use, effect.ai is one example of ai project. it is quite difficult to get the government and the legislature to trust it. all this takes time and if the moment has arrived, I think they will make the rules and strongly support crypto and blockchain as the technology of the future.

Brad Sherman: "all Bitcoin does is allow "a few dozen men in my district to sit in their pyjamas on their couch all day, and tell their wives they are going to be millionaires".
oh.. ouch Brad, no need to get so personal about it.

I really would not expect much in the way of intelligent questions or answers on any technological subject from people sitting in the US congress after watching them questioning Mark Zuckerberg. Just because they don't know the answer does not it any way mean there is not one. Their decisions are usually based on who is paying them rather than intelligent debate anyway.

wow

Yea, that was hilarious. I actually did a whole write up on that committee hearing. The gist is that when it comes to regulation on ICO tokens, it all comes down to whether they will be classed as securities or commodities. The more decentralized the coin, the more likely it is a commodity with less regulation. Decentralization is the ULTIMATE!

https://cryptograf.io/blog/2018/03/23/Government-Eyes-Cryptocurrency/ (https://cryptograf.io/blog/2018/03/23/Government-Eyes-Cryptocurrency/)