18 September 2023
Welcome to another edition of Crypto NFT Today! If you have a passion for cryptocurrencies, NFTs, and thrilling adventures with occasional risky roller coasters, you’ve come to the right place. So sit back, relax, and let’s dive in!
RFK Jr. supports Bitcoin as a backing for the US dollar if elected president
Robert F. Kennedy Jr., the son of the former US Attorney General and the assassinated presidential candidate Robert F. Kennedy, is running for the Democratic nomination for the presidency in 2024. He recently unveiled his proposal to support the US dollar with Bitcoin, the leading digital currency, if he assumes office.
Kennedy Jr. expressed his belief that Bitcoin is a superior long-term store of value compared to gold and could assist in the recovery of the US economy from inflation and the debt crisis. He also voiced his support for the advancement of decentralized technologies and non-fungible tokens (NFTs), which in his view empower artists and creators.
Kennedy Jr. is not the sole contender who endorses Bitcoin and NFTs. Earlier this year, former President Donald Trump launched his own NFT platform called Trump Token, showcasing digital collectibles featuring his speeches and achievements.
Study reveals deteriorating performance of ChatGPT over time
Researchers from the University of California, Berkeley, and Stanford University conducted a recent study that indicated a decline in accuracy and consistency of ChatGPT, a popular conversational AI system fueled by GPT-3.
The study examined over 10,000 conversations between ChatGPT and human users covering various topics such as sports, politics, and entertainment. The researchers found that as the conversations progressed, ChatGPT’s responses increasingly contained factual errors, logical inconsistencies, and irrelevant information.
They also noted that ChatGPT frequently repeats itself, contradicts itself, or abruptly changes the topic. The researchers attributed these issues to ChatGPT’s deficiency in long-term memory and contextual comprehension, as well as its inclination to generate generic and cautious responses.
They suggested that future conversational AI systems should incorporate additional mechanisms to maintain consistency and relevance in long-term interactions.
Mining Disruption 2023: The World’s Largest Bitcoin Mining Conference & Expo
Mining Disrupt 2023 is a two-day event that assembles top experts, innovators, and enthusiasts from the Bitcoin mining sector. The conference and expo will feature keynote speakers, panel discussions, workshops, networking opportunities, and demonstrations of cutting-edge mining hardware and software.
The event aims to educate, inspire, and connect the global mining community and promote the adoption of decentralized technologies.
Mining Disruption 2023 will be held on July 20-21 at the DoubleTree by Hilton Hotel Miami Airport & Convention Center. Tickets can be purchased online at www.miningdisrup.com.
SEC Chairman Gary Gensler: Crypto is filled with fraud, scams, and misuse
Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), cautioned investors about the risks associated with investing in the cryptocurrency sector, highlighting its prevalence of fraud, scams, and misuse.
During a speech at the Aspen Securities Forum, Gensler affirmed that the SEC is committed to safeguarding investors and promoting innovation while ensuring compliance with securities laws. He expressed concerns about numerous crypto platforms, products, and services operating outside the regulatory framework, posing substantial risks to investors and the financial system.
He urged Congress to grant the SEC increased authority and resources for overseeing the crypto market and underscored the SEC’s determination to employ its existing powers to crack down on violations and take enforcement actions.
Furthermore, he emphasized the SEC’s interest in facilitating crypto exchange-traded funds (ETFs) but emphasized that stringent investor protection standards must be met. He welcomed responsible innovation and expressed the SEC’s openness to engaging in dialogue with the crypto industry.
Will the Chinese yuan supersede the US dollar as the global reserve currency?
The BRICS group of emerging economies (Brazil, Russia, India, China, and South Africa) is mulling over the feasibility of adopting the Chinese yuan as an alternative to the US dollar in international trade and finance. This shift could have repercussions on the global crypto and NFT markets as the digitization and accessibility of the yuan increase.
BRICS nations are exploring avenues to reduce their dependence on the US dollar, which currently dominates global trade and reserves. These countries are also developing their own digital currencies and blockchain platforms, such as China’s e-CNY and India’s CBDC.
While some experts argue that the adoption of the yuan as a global reserve currency could fuel demand for crypto and NFTs due to their promise of greater freedom, transparency, and innovation, others contend that the yuan still faces strict capital controls and censorship that may limit its appeal to crypto and NFT enthusiasts.
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