Nvidia Corporation's Chief Technology Officer, Michael Kagan, has criticized the cryptocurrency industry, stating that it does not provide anything valuable to society. Although Nvidia's processors have been selling in significant quantities to the crypto industry, Kagan believes that processing power's use in artificial intelligence chatbots like ChatGPT is more beneficial than mining crypto.
Despite the challenges faced by cryptocurrencies such as technical glitches, cyber-attacks, and exchange crashes since their inception in 2009, it has still generated consistent returns and is becoming more widely accepted as a form of payment due to their decentralization, security, and potential for financial innovation.
Although technology and humans complement each other, artificial intelligence is becoming more necessary and efficient, and with the advancement of technology, humans may become obsolete in many sectors.
However, Elon Musk, the CEO of Twitter, and a group of AI experts have warned about the potential risks to society and humanity, calling for a six-month halt to the development of systems more powerful than OpenAI's GPT-4. The non-profit Future of Life Institute issued the warning in a letter signed by over 1,000 people, adding that governments must intervene and institute a moratorium if a pause cannot be enacted quickly.
Despite Kagan's criticism, the cryptocurrency industry's market capitalization has risen by 2.19% to $1.19 trillion, mainly due to Bitcoin's gains. Ethereum, on the other hand, has dipped ahead of the Shanghai upgrade. In the meme coin space, Big Eyes Coin (BIG) has been chipping away with presale tokens as it nears its live launch on the market.
Bitcoin, created in 2009, has long dominated the cryptocurrency industry, becoming the largest and most valuable digital asset in the market, with a market capitalization of $551 billion and a circulating supply of 19 million.
At the time of writing, Bitcoin was trading at $28,549.01, having risen by 0.44% in the past 24 hours and posting a 3.17% weekly upward movement.
Ethereum, created in 2013, is the second-largest digital asset in the cryptocurrency industry, with a market capitalization of $220 billion.
It had dipped overnight by 0.70% to trade at $1,800.88 as it awaits the Shanghai upgrade on April 12.
Big Eyes Coin (BIG) is an ERC-20 token powered by the Ethereum network currently in the presale stage, having raised over $32.5 million in presale tokens. The project uses the Proof-of-Stake (PoS) consensus process, which eliminates crypto mining, contributing significantly to climate change.
The project is also an active supporter of environmental protection and has vowed to donate 5% of its total token supply to ocean conservation charities.
The project will launch at the end of stage 15, raising $50 million in presale tokens. During this stage, users have a limited-time bonus code, 'BULLRUN250,' which provides a massive 250% bonus on top of a BIG token or Loot Boxes purchase.
Although investing in cryptocurrencies carries a lot of risk given its high volatility, blockchain and AI's combination can address many of the challenges faced in cryptocurrency and bring about more efficiency and returns in cryptocurrency investing.
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.