All crypto"currencies" with a transaction fee are negative sum games and as such , they are a scam. It's been nine years since the Washington Post admittedly somewhat clumsily but still drawn attention to this and people still insist it's something other than a scam. Despite heady articles about how it's going to solve world hunger, it's just a scam.
This round of AI is only capable of producing bullshit. Relevant bullshit but bullshit. This can be useful https://hachyderm.io/@inthehands/112006855076082650 but it doesn't mean it's more impactful than the Internet.
I agree, 1-3% was a best case. While I agree it's a net zero, even those who argue for it really don't claim much more than a couple of %.
I actually expected objections on the opposite direction. But then, this is not twitter/X.
The point is that something that can easily generate 20%-100% growth per year (AGI/ASI) is so much more important that the best case prediction for crypto's effect on the economy are not even noticeable.
That's why comparing the crypto bubble to AI is so meaningless. Crypto was NEVER* going to be something hugely important, while AI is potentially almost limitless.
*If crypto had anything to offer at all, it would be ways to avoid fees, taxes and the ability to trace transactions.
The thing is, if crypto at any point seriously threatens to replace traditional currencies as stores of value in the US or EU, it will be banned instantly. Simply because it would make it impossible for governments to run budget deficits, prevent tax evasion and sever other things that governments care about.
This round of AI is only capable of producing bullshit. Relevant bullshit but bullshit. This can be useful https://hachyderm.io/@inthehands/112006855076082650 but it doesn't mean it's more impactful than the Internet.