Yes!
And I always add that the financial issue with dependency on AI is that there’s no way to know today what the final capacity will be after the excitement settles down.
I see plenty of fear of missing out, but less fear of becoming dependant on a suddenly scarce resource. I think the second risk is higher (based on past technology experiences).
We saw this with the Automated Teller Machine (ATM). Years after widespread ATM availability, banks had more tellers than ever. More people started using financial services. I think mobile bank apps turned that tide back, but that could still also go either way, in the long run.
And even so, there’s also still a huge “un-banked” population who simply cash their paycheck and never use another financial service.
I would settle for capital punishment for the corporation. Board dissolved. All assets sold at public auction with a pure lottery, so asshats can’t depend on buying any key asset. All stock voided.
Could really get everyone on the same page about respecting the rule of law.
Especially if their AI deletes their database in 9 seconds!
This is a weird one, because (in my experience) CoinBase was already wildly incompetent, before this.
How can they sacrifice all of their competence on the alter of AI, if they have no competence to sacrifice? One can’t re-delete the customer database after it has been deleted, if there wasn’t a backup.
One could be left with no choice but to disappear with all that BitCoin, I suppose.
I’ll be watching this with popcorn in hand.
We will (actually already have) make our own Internet, with blackjack, and hookers.