Arthur Hayes Reveals AI Trend Profit Secrets
The internet is abuzz with Arthur Hayes’ latest essay “Massa.” Hayes, former CEO of BitMEX, delves into the potential of artificial intelligence in shaping humanity’s future, and identifies the role Bitcoin could play in this stage of our evolution.
Hayes emphasizes that artificial intelligence and robotics have the potential to undertake the laborious work that often hinders people from fully enjoying life. Therefore, he is of the opinion that advancements in these technologies may lead to a renaissance in the realms of art and culture. Simultaneously, Hayes does acknowledge the genuine concerns that AI might surpass human capabilities and wrest control of our civilization.
Cover of Arthur Hayes's essay “Massa” Source: cryptohayes.substack.com
AI from a Financial Perspective
The implementation of artificial intelligence is progressing at a striking speed. As an example, Hayes points to ChatGPT, which amassed 100 million active users within just two months after its launch. He views that technology adoption life cycle as one of the fastest in human history. As a result, Hayes predicts that integration of AI into our lives will only hasten the growth of this technology.
As primarily a businessman rather than a philosopher, Hayes focuses on the financial aspects of AI implementation. He highlights the substantial profits that AI has already produced (or could potentially generate) for public and private companies. Yet, he also sounds a note of caution about the risks associated with investing in novel technologies, citing Amazon as a case in point – its shares plummeted by 93% before skyrocketing 400-fold. In this context, he suggests that it's sometimes prudent to sit out the first bull run.
Hayes has also made a daring prediction: by 2025-2026, he believes that AI could be responsible for anywhere from 5% to 50% of the global GDP, a figure which touched a staggering 100 trillion US dollars last year.
Artificial Intelligence and Bitcoin
While discussing the potential interplay between cryptocurrency and AI, Hayes speculates that Bitcoin could become the chosen currency for artificial intelligence, given its distinct characteristics.
Firstly, the leading cryptocurrency is transparent and resistant to human-imposed censorship.
Secondly, Bitcoin has a limited issuance, unlike fiat currency that can be perpetually produced at the discretion of authorized entities.
Thirdly, he points to energy dependence. Hayes believes that, in the future, the cost of electricity will play a significant role in determining the value of Bitcoin. In turn, such a pricing may present an important factor for AI as its operations also depend on electricity.
The Price Potential of BTC Amid AI Development Source: cryptohayes.substack.com
If artificial intelligence developers opt for Bitcoin, there could be a notable impact on its value. According to Hayes' estimates, BTC might hit a staggering $760,591 in a favorable scenario.
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
