Ether Price Hits New 11-Month High

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Good morning. Here is what happens:

Price: Ether continued its ascent following last week’s Shanghai upgrade on the Ethereum blockchain, hitting an 11-month high.

Insights: Sufficiently decentralized ownership and control would prevent a single party from dictating AI development, writes Michael Casey, chief content officer at CoinDesk.

For months, traders speculated whether the price of ether (ETH) would crash after the historic Ethereum blockchain upgrade in Shanghai, or whether it would recover.

And it has been steadily rising, gaining four of the past five days and hitting a new 11-month high on Sunday around $2,141.

ETH price is now up 77% year-to-date, still lagging bitcoin (BTC) price gain of 83% in 2023, but catching up fast.

“Market pessimism regarding Ethereum staking pullbacks has proven to be excessive,” as Sean Farrell, head of digital asset strategy at FundStrat, said last week.

Web2s Lesson for AI: Decentralize to Protect Humanity

This is going to sound presumptuous coming from a guy who doesn’t write code, let alone have direct experience in machine learning or artificial intelligence research.

But I have to say it: the recent alarmist demand for a six-month pause or even a militarily enforced halt in AI research from people with experience, money and influence in the AI ​​industry is based on fundamentally flawed thinking that will encourage the same. destructive result for humanity which we seek to avoid. The fact that the U.S. government is simultaneously orchestrating a crackdown on the crypto industry, an area of ​​open-source innovation that develops the kind of crypto and network coordination technologies needed to manage AI threats, makes it a particularly dangerous time for all of us.

These doomsayers are computer scientists, not students of economic history. The problem is not, per se, that an out-of-control AI could evolve to kill us all. (We all know that. For decades, Hollywood has taught us that this is so.) No, the task is to ensure that the AI ​​economy does not inherently encourage this horrific outcome. We must prevent the concentrated control of the inputs and outputs of AI machines from hampering our ability to act together in the common interest. We need collective, collaborative software development that creates a computing antidote to these dystopian nightmares.

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The answer does not lie in stopping innovation in AI and locking down the creator of ChatGPT, OpenAI, the industry leader that brought the field to its current level of development, in pole position. On the contrary, it is the best way to ensure that the nightmare comes true.

Read the full story here:

Ether was above $2,100 as many investors opt for the prospect of additional liquidity while earning staking rewards over the desire to take immediate profits and run. Michael Safai, Managing Partner of Dexterity Capital, shared his analysis of the crypto markets. Additionally, Blockchain Association Director of Government Relations Ron Hammond weighed in on the state of crypto regulation ahead of SEC Chairman Gary Gensler’s testimony to lawmakers next week. And TurboTax tax expert Lisa Greene-Lewis shared tips on what crypto investors need to know ahead of tax day.

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