Bitcoin, Artificial Intelligence, Economy and Buddhism
https://news.ycombinator.com/item?id=5574293Greed has been a major problem for both bitcoin and our society as a whole. It surely leads us to both economic and environmental disaster and the time is running out. Even though bitcoin was envisioned as decentralized exchange system the reality shows us that it turned into the vehicle for speculators, day traders and bankers plus professional miners taking control away from a little guy who is left behind as usual.
Did Satoshi think about that when he envisioned bitcoin? What we see now is that bitcoin exposes one important issue, namely human psychology and the fact that it absolutely has to be factored in.
Now, what if we will have bitcoin 2.0 or some other crypto 2.0 that is based or run by AI that bases its principles of work on fairness, altruism, and kindness? (i.e. Buddhist values)? The system will be designed in a way that everyone will have a fair chance to get a block, and it will not depend on the capital the person has. Furthermore, the AI could be trained to detect "greedy" transactions and mitigate them, so no matter how much fat banker or day trader try to accumulate bitcoin 2.0 he will not be able to. Imagine what this could do for human society as a whole. It is like we can erase everything and start from the scratch all over again without any fat cats having any advantage.
What do you think?