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socketcluster • today at 1:41 PM • 1 reply • view on HN

My main fear is that the integrity of everything will be compromised, but everyone will keep acting as if it's not. I feel like it's already somewhat the case but I'm worried about it getting worse.

My prediction is that some people will be able to use ASI to create essentially infinite money inside their bank accounts (through hacking); the prices of assets will grow to ridiculous sums as the people with infinite money buy up assets, but yields on all assets would soon approach 0%; still, one asset is going to grow at a faster rate than all other assets (E.g. an AI company backed by blockchain/tokenized shares that are impossible to hack) and everyone is going to start piling their infinite money into that asset; every other asset will crash to $0 because of the rapid, exponential price acceleration of the top asset making every other asset unattractive by comparison. Then fiat money would cease to exist and shares of the top AI company will be used as money instead. Then prices of assets would stabilize again; denominated in the new currency... Then after that, we will finally be able to start innovating with AI.


Replies

NoidFonsense • today at 1:47 PM

I suppose, but precious metals and cryptocurriencies would still exist, and would probably be more immune to power struggles and hacking than stocks.

Not to say that they're unhackable or unstealable, but merely that they dont have a central weak point that if broken, destroys the whole system

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