I do like to think I could have made money on that one and will always regret avoiding it. It was clearly always a bubble with nothing behind it (less than the current ai bubble), but at the same time was a huge long shot.
Like any bubble, you can make money if you’re in early enough but it’s absolutely critical to get out in time before everything comes crashing down. I try to avoid speculation bubbles because I’m not good at getting out in time. But for the bitcoin craze, I think it was much clearer than other bubbles. There was a clear transition where all the faithful were gone and it was pure speculation finance bros. Clearly it had jumped the shark but there was still opportunity to get out of the water
If it makes you feel any better, I was an early adopter, mined 36 bitcoins, got bored, heard years later that bitcoin was “a thing” now and never found my wallet.
Specifically this context. Like “falling behind in school,” I get. There are grades. Some people do better while some fall behind. It’s a scaler value with a good end and a bad end.
But the AI bros are co-opting the phrase and presupposing that ALL OF TECHNOLOGY is on a linear scale where the good end is more AI shit and the bad end is less AI shit. They’re using a scaler when they should be using a vector.
I’ve mentioned it before on here, but my cousin is taking an AI class in college. He tried to convince my business-owner uncle to let him create an agent for his company’s website so he won’t “fall behind.”
These are the people in charge of the economy.
TIL the economy is driven by FOMO.
Always has been
Feels like it kicked into hyper-drive after Bitcoin blew up
I do like to think I could have made money on that one and will always regret avoiding it. It was clearly always a bubble with nothing behind it (less than the current ai bubble), but at the same time was a huge long shot.
Like any bubble, you can make money if you’re in early enough but it’s absolutely critical to get out in time before everything comes crashing down. I try to avoid speculation bubbles because I’m not good at getting out in time. But for the bitcoin craze, I think it was much clearer than other bubbles. There was a clear transition where all the faithful were gone and it was pure speculation finance bros. Clearly it had jumped the shark but there was still opportunity to get out of the water
If it makes you feel any better, I was an early adopter, mined 36 bitcoins, got bored, heard years later that bitcoin was “a thing” now and never found my wallet.
It’s a faith based economy, and when a large amount of participants will believe 2+2=5 there’s no limit to the fuckery you can do!
“Falling behind” is such a bullshit phrase.
In this context or period?
Specifically this context. Like “falling behind in school,” I get. There are grades. Some people do better while some fall behind. It’s a scaler value with a good end and a bad end.
But the AI bros are co-opting the phrase and presupposing that ALL OF TECHNOLOGY is on a linear scale where the good end is more AI shit and the bad end is less AI shit. They’re using a scaler when they should be using a vector.
I’ve mentioned it before on here, but my cousin is taking an AI class in college. He tried to convince my business-owner uncle to let him create an agent for his company’s website so he won’t “fall behind.”
My uncle owns a gas station.