This week covered several notable crypto and tech stories, including Coinbase enabling free crypto transfers via messaging apps, Bitcoin rallying past $44k, Brazil’s largest bank launching crypto services, and more.
Bitcoin Price Nears $45k
Bitcoin recently hit its highest price in 20 months, nearing $45,000. This extends the ongoing crypto rally driven by speculation that SEC approval of Bitcoin ETFs could unlock huge institutional demand. Major crypto stocks like Coinbase and MicroStrategy spiked in tandem. As crypto continues gaining steam, Bitcoin’s inevitability becomes clearer to more people worldwide.
Mining’s Energy Impact Greatly Exaggerated
A dubious new study claimed the average Bitcoin transaction wastes enough energy to fill an entire swimming pool. However, this ignores how miners reuse cooling water and tap sustainable power like hydro and solar. Critics overlook mining’s flexibility to turn off during grid stress and integrate excess renewable energy. Recent perspectives align with claims of Bitcoin efficiently supporting the energy transition.
AI Progress Real But Slow, OpenAI COO Warns
OpenAI COO Brad Liewarned businesses not to expect AI to instantly solve all their problems. The technology remains experimental without widespread real-world applications yet. While AI shows promise, its business impact is overhyped in the short term. any gaps exist between expectations and current capabilities.
Global Giants Launch “Open” AI Efforts
Meta and IBM announced an AI coalition with 50 organizations, including Intel and NASA, to advance “open, safe and responsible” artificial intelligence. This counters the influence of Big Tech leaders with closed models like Google and Microsoft. However, Meta’s history warrants skepticism around its intentions. The refrain of openness and safety rings hollow when coming from walled gardens.
In closing, this week covered an expansive range of crypto and tech developments. Bitcoin continues breaking out while debunking myths about mining. Major players lay foundations for the future AI landscape with competing visions. As innovators build, responsibility rests on individuals to educate ourselves – learning and maintaining an open mind.
Thank you for reading and or listening!
* If you enjoyed this podcast please give it a review on Spotify and or Apple Music.
* Also follow us on Twitter: @RunwayPod
Recent Stories
