Tendencies behind the courtains

In a rapidly evolving world, significant tendencies can often go unnoticed. This week, a thousand renowned figures from various fields, including science, business, and academia, signed a manifesto urging a slowdown in AI training beyond GPT-4. They seek to establish guidelines and limits before humans can adapt to such rapid advancements.

Despite these concerns, AI development continues to accelerate. Just four months after the release of ChatGPT, a $10 billion AI project, a 7-billion-parameter model is now available for use on personal computers. You just need to download it and start the training. It’s just unstoppable.

Amidst these developments, an important milestone went largely unnoticed: the BRICS countries (Brazil, Russia, India, China, South Africa, Bangladesh, Egypt, and the UAE) surpassed the G7 (Canada, France, Germany, Italy, Japan, the UK, and the EU) in GDP (31,5% VS 30,7% of the share). This shift signifies a new era, where the distinction between developed and developing countries is replaced by ascending and descending economies, as noted by Balaji Srinivasan.

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Global dedollarization has also emerged as a significant trend, potentially benefiting gold and Bitcoin. Analysts should keep an eye on such long-term developments, despite the distractions of daily news.

And also this week:

  • China and Brazil will settle transactions in their own currencies, ditching the US dollar.
  • Saudi Arabia enters into a trade alliance with China, Russia, India, Pakistan and four Central Asian nations to move further away from dependence on the US dollar.
  • China and France have completed the first LNG gas trade using the Chinese Yuan, ending reliance on the US dollar for energy trading.

In the crypto sector, there is a perception of unfair treatment by the mainstream media. This is likely because cryptocurrencies pose a threat to established financial institutions and central banks. But it’s not only their fault.

Press are haters. The press tends to focus on negative emotions, as demonstrated by a graph showing the prevalence of fear, anger, and sadness in news coverage since 2010.

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Tendency is the Queen and the King.

Blockchain and AI have come to reign.

Yours in crypto and AI.