In a thought-provoking analysis, Arthur Hayes, co-founder of BitMEX, shares his thoughts on the potential future of Bitcoin (BTC) as the currency of choice for artificial intelligence (AI). Hayes believes that AI and robotics have the power to revolutionize society by eliminating mundane tasks and allowing humans to pursue their passions.
Will AI be humanity's Massa?
— Arthur Hayes (@CryptoHayes) July 6, 2023
While Hayes acknowledges the ongoing debate surrounding the evolution of thinking machines and their impact on humanity, he emphasizes that recent advancements in computing power have brought us closer than ever to witnessing a transformative moment for AI.
However, Arthur Hayes recognizes the potential financial gains associated with the intersection of the crypto industry and AI, as he delves into the relationship between the two technologies, starting with the notion that Bitcoin could be the preferred currency for AIs.
Bitcoin (BTC) Is the Logical Currency Choice for Artificial Intelligence (AI)
The former CEO of the BitMex cryptocurrency exchange starts by discussing an AI’s need to use a blockchain-based digital payments system. While fiat currencies and central bank digital currencies (CDBCs) can ride on public blockchains, Hayes argues that the traditional financial system is unsuitable for AI-powered economies.
As such, he highlights the need for a digital payment system that is always available, automated, and censorship-resistant, leading to the conclusion that a public or private blockchain is the only viable option.
Another critical aspect for AIs is the availability of resources, particularly data and compute power. Arthur Hayes draws a comparison between the energy requirements of humans and artificial intelligence, stating that an AI must transact in a currency that preserves its energy-purchasing control over time.
In this regard, Bitcoin (BTC) emerges as a contender due to its finite supply and direct correlation to the cost of electricity, asserting that Bitcoin stands out as a currency closest to representing pure energy.
As AIs continue to play a more significant role in the global economy, the demand for the leading cryptocurrency, Bitcoin (BTC), could skyrocket, driven by the desire to escape inflation within the fiat financial system and to participate in the next phase of human-computer evolution.
Although the specific price impact remains uncertain, Arthur Hayes presents a narrative that could shape future market sentiments and potentially lead to a surge in Bitcoin’s value.
AI’s Potential in Crypto
As reported, Lightning Labs has also unveiled a suite of tools in a move to further integrate artificial intelligence (AI) with Bitcoin and the Lightning Network. This recent introduction aligns with the idea put forth by Arthur Hayes regarding Bitcoin’s potential as the future currency for AIs. Lightning Labs’ tools, including LangChainBitcoin and LLM Agent BitcoinTools, facilitate the seamless incorporation of Bitcoin and Lightning functionalities into AI applications.
This development underscores the growing recognition of Bitcoin’s compatibility with Artificial Intelligence (AI) and highlights the ongoing efforts to explore the intersection of these technologies for enhanced functionality and accessibility.