Were All Gonna Die

The first Bankless episode on AI and we went deep down the rabbit hole. 

This conversation withEliezer Yudkowskysent us into an existential crisis as we discussed ChatGPT and the new generation of AI, digital super-intelligence, the end of humanity, and if theres anything we can do to survive.

According to Eliezer, were already too late. Humanity is doomed. 

Artwork generated from the timestamp [59:32-59:51] Nobody knows how to create any good AIs at all. The problem isnt that we have 20 good AIs and that somebody finally builds an evil AI. The problem is that the first powerful AI is evil, nobody knows how to make it good, and then it kills everybody before anybody can make it good. 

10% of proceeds donated to Eliezer's MIRI Foundation.

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Investing in Waves

Investing in waves. Are we talking about surfing? Are we talking about capital deployment? The answer is yes.

In this episode, Chris unpacks why he uses the term trashy to describe many 2022 projects (and their founders), why crypto is like surfing and how you catch a good wave, his rules for staying sober during bull and bear markets (hint: dont fall in love with your coconuts), and finally his bull case for Solana.

Chris Burniske is a Bankless legend, making his third appearance on Bankless. He was first on three years ago for episode #20! 

Art generated from the timestamp at [20:22 - 20:35] where Chris draws the parallel between surfing and investing in crypto ecosystems. 

10% of proceeds are donated to Shielded Labs, an organization helping with the decentralization of Zcash!

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The Smart Money is Here

Eric Petersoperates one of the largest institutional crypto hedge funds in the world. What do the institutions think of our little crypto asset class? Are they running for the hills?

Eric Peters is the Founder, CIO of One River Asset Management. His fund has made some of the largest institutional investments in crypto ever..including one purchase of over $600 million in Bitcoin and Ethereum. When we think institutional crypto, we think Eric Peters.

His first appearance on Bankless was in October 2021we brought him back to catch us up on the current institutional thesis for crypto.

10% of proceeds donated to the Connecticut Foodshare, an organization delivering an informed and equitable response to hunger.

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Hester Peirce is one of five SEC Commissioners. 

A previous guest on the podcast, Peirce operates on first principles. Shes often known to  dissent from her colleagues on crypto-related actionsone of the many reasons why we enjoy her and her guidance so much.

Were only three months into 2023, but its one of the worst regulatory environments weve seen for crypto in the United States. In todays episode, the SEC Commissioner shares some insight on what could crypto be like if we had a first principles SEC, what a security is, how we define it, and how can crypto take its share of the responsibility to move this industry forward.

Hester Perice is a certified American badass. Principled, smart, and willing to engage.  Shes everything a regulator should be and we are lucky to have her.

Artwork generated from Peirces statement at [19:01 - 19:21] The other thing I dont think Washington is not very good at, is thinking about ok no one cares whether the securities laws apply or not  no one outside of Washington cares. What they care about is are we making the world a better place by applying regulations or are we just making things complicated and not serving anyones interest. 

10% of proceeds go to Bankless DAO.

What SEC Commissioner Hester Peirce Thinks About the SEC

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Liv Boereeis a former professional poker player, master of game theory, systems thinker, and keen understander of the world of complex systems and the human experience.

She also is one of the few people out there in the world teaching about the lessons of Moloch the study of human coordinationand is the reason why we wanted to have her on Bankless.

In the episode, Liv makes it clear how Moloch is more than an idea. Coordination and competition failures are happening in every aspect of our lives. Is crypto the solution?

Artwork derived from the timestamp [14:05 - 14:24]: *[Moloch] is the god of the unhealthy competition. Its not the god of competition, competition is a neutral thing. its a form of an interaction, just like coordination or cooperation.* 

*Competition can be used for good. And it can can be used for bad. Moloch is when competition is used for ill.* 

10% of proceeds donated to Bankless DAO.

Why Can't We Have Nice Things

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Get Your Bitcoin and Get Out!

After Balaji rang the BitSignal, Arthur Hayers, the Founder of BitMex, outlines how were in one of the most chaotic and pivotal times in the macro landscape that weve seen, at least since 2008. 

While not fully agreeing with Balaji on his $1M Bitcoin Bet, Hayes agrees directionally. Theres going to be a massive amount of money printed, the government is going to crack down, and the need for self-sovereign digital assets will be critical.

His advice? 

Get your Bitcoin, and get out. 

Artwork generated from the timestamp [52:52 - 53:15] Theres all these things that the average person needs, that the government cant print. If theres just going to not allocate the losses from all this debt, which is essentially Im going to take the future and spend it today. So we spent the future  theres no more future. We have to pay for it. So if you have money inside the system, you will have to pay for it.

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