Crypto bashing in the mainstream media continues unabated as Reuters writer bigs up AI at the expense of the crypto sector.
A mainstream media narrativeMainstream media generally appears to back the narrative that crypto has no intrinsic value, and that it will go to zero much sooner than later. This is the narrative put out by governments, bank leaders, and global traditional financial agencies.
Everyone has their view of crypto, and both sides of the argument have prominent economists and financial experts with widely differing opinions. However, what is not in doubt is that the large mainstream media outlets are gunning for crypto, often with little fundamental sense behind their articles.
For example, an article published today by a Reuters columnist expounds the view that the current “AI craze” leaves crypto for dead, and states how AI is gathering momentum while crypto is gathering dust.
No one can deny that artificial intelligence (AI) is arguably the biggest technological breakthrough that the human race has ever seen. The potential for this technology is as breathtaking as it is alarming.
However, comparing it with crypto is quite ridiculous. It’s like comparing apples and oranges. Both have their place, and the two of them complement each other, as can be seen with crypto projects such as Render, Ocean, SingularityNET, and others that are harnessing the power of AI.
Crypto is either extremely misunderstood, or there are malicious actors involved in trying to drive this anti-crypto narrative out to the masses. Of course, in calling a spade a spade, the vast majority of cryptocurrencies will probably eventually fail and go to zero, but some of these projects are revolutionary, and this space is coming up with financial innovations such as DeFi, NFTs, payments, and many other uses that can change our world for the better.
Bitcoin is an exit from debasing fiat currenciesBitcoin is the preeminent cryptocurrency, and it serves as a hard money exit out of the failing fiat-based monetary system. Artificial intelligence with properly defined boundaries can complement this people’s money and be used to make life easier for all.
Just throwing mud at a technology is never a good idea. Balanced arguments are always needed. Crypto is a technology that seems to threaten governments, banks, and central planners in general.
Being able to have total control has become the raison d’être of governments instead of being a servant of the people. Crypto challenges this misuse of power, and it is to be hoped that AI will not be used to strengthen governmental oppression of freedoms.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
