God, this bubble burst is going to be so brutal

@zenhob I cashed out all my tech stocks back in January. I suspect this will be the dot-bomb v2.0, where everyone finally figures out that LLMs and the hundreds of billions of dollars invested would have been better off getting tossed into a dumpster and just lit on fire.

They're impressive chatbots, but not useful for anything of consequence. They can't do math, they can't play games, they get basic facts wrong, they can be manipulated into being complicit in crimes, etc.

@JustinDerrick @zenhob "The market can stay irrational longer than you can remain solvent." Crypto is still going strong; been around for ~16 years. Tesla's stock is still higher than this same time last year.
@1337 @JustinDerrick @zenhob Crypto is a bit of a special case IMO because it's a *purely* abstract asset that's not even pretending to be tied to any physical function. I think about it as a decentralized ponzi scheme that only requires a bit of "get rich quick!" marketing, electricity, and hardware. Until one of those things goes away, the crypto scam will continue.

@stelclementine @1337 @JustinDerrick @zenhob Yes but there was a time - not many months mind you - where too many tech enthusiasts insisted that you should put your stuff on the blockchain, until they realized it is a slow, expensive, pseudononymous, world readable database with very little payload size full of bugs and exploits. So they stopped insisting on it.

The new machine lying fad even has governments singing its praises.

@toriver
Is there a better distributed database?

@stelclementine @1337 @JustinDerrick @zenhob

@iwein DHT, OrbitDB, or any Byzantine fault tolerant scheme. Even Postgres can be made to work in a quorum-type distributed system. Crypto like Bitcoin just tries to "solve" the Sybil problem by indirection (PoW) and clever (social/financial) incentives. I'm guessing one of the FAANGs could take complete control over the network with their AI datacenters if they wanted to. The question is if a *permissionless* system like Bitcoin's is needed for a use-case, and not just a centralized or federated system. Trust is eventually needed somewhere in an exchange.