Cryptocurrency vs. Artificial Intelligence: Who is the true historical narrative?

PANews Editor's Note: IOSG founder Jocy posted on Twitter about the core developers of his investment projects leaving Crypto to devote themselves to AI, as follows:

Another core developer of Portfolio left the industry and devoted himself to AI application entrepreneurship. The most prestigious individuals and organizations in the industry are focusing on meme. To be honest, what if you fight this battle well? AGI is the grandest narrative in history. As long as all the best talents are carefully observed, they will definitely be attracted. If the goal of everyone in the crypto world is to let more excellent people leave and finally make web3 a big casino, then is their success worth shining? Many entrepreneurs and developers have more than just to make money. They want to make applications that change the world, want to leave a mark on history and be recognized. When everyone in the entire environment does not pursue true ideals and values, these people will leave. I really hope that everyone can be more responsible. Excellent people will shine in any industry. When they shine in the AI ​​industry, they will not come back to the currency circle. At that time, what we lost is not just talents, but an era of lost currency circles.

Once this tweet was posted, it received heated discussions from the community. The following are some exciting comments from KOLs and netizens:

Encryption portal

I think this excellence is relative. It is true that AGI changes the world, but it cannot be said that the one who is suitable for AGI is the excellent one. Heyden, who created AMM back then, was just a Siemens engineer. However, AMM is definitely a creation of changing the history of world finance. Generally speaking, excellent people can shine in various industries, but they will be brighter in some industries than in other industries. Instead of finding excellent people, it is better to find the right people

0xBai

The current situation is the result of joint efforts. At first, people believe that encryption changes the world and the future. As a result, after the vc/project is poured out again and again, everyone is smarter. It is better to be the casino who come to the casino and get big results and will not return to the crypto industry to feed back the industry. If it is ultimately a big casino, it is only suitable for payment, pvp, and let the market decide normally, and there will naturally be a suitable positioning.

Cat

I don't think crypto players and builders who really build blockchains are a bunch of people. It's normal for the attention to be diverted before the builders make something. This is how the development of technology is. The history of AI development, the VC Fomo after the alpha go was released, and the four AI dragons in China were unable to continue to be happy. A large number of AI practitioners left, fresh graduates could not find jobs in algorithms, and dogs did not learn machine learning until the transformer architecture came out and AI exploded again. What is more pessimistic is that I found that many investment institutions in the "currency circle" care about issuing coins and making money.

Jason

As soon as this article is published, some people may say, "Look, VC has not made any money in this round, and they are envious and jealous and hateful." This industry is essentially different from the traditional technology industry: the participants’ backgrounds are very diverse (because the early threshold is too low), that is, they ignore the core driving force of technology on economic development and lack real venture capital values. The core value of VC is to strive to achieve financial returns while helping technological innovation. Although memecoin does have valuable attributes and PMF in the industry, and I also think there is no problem with community participation in memecoin pvp, if the most large-scale and (outside) influential institutions in the industry are all focusing on the Promote digital casino culture, it will only keep professional capital away and make entrepreneurs specializing in technical products fail. In the end, those who stay at the card table are those who open casinos, gamblers and gamblers.

Dana (Yzi Labs)

- AGI is a beautiful and grand narrative, but reality is trivial and complex. Looking closely from this grand narrative, every company, every product, and every entrepreneurial team have their own struggles and anxiety. AI does improve efficiency, but it also lowers the threshold. Not to mention the long term, it depends on the medium and short term, where is the moat in the AI ​​application company or even a big model company? These questions are all about sitting withered and sleeping.

- Human growth is never a straight line. Go to different industries and try it, and slowly find out the path that is closest to your heart. In the short term, it can be said to be speculation, but in the long term, it may be possible to connect the dots. After all, you decide who you are and what you want to accomplish; you can only see clearly after you have a longer time.

- In an industry where express delivery development, such as Web3/Crypto, it is actually very important to stay on the poker table and keep up with the beta of the industry. But every entrepreneur who is excited and wants to create alpha will always be discouraged because he cannot see his own light in the short term or does not have high-intensity positive feedback. I understand this mood (10,000 words are omitted here. As investors are eager to find alpha, and they are still on the road now...) But it is worth reminding that don’t forget why they came to this industry just because they don’t see Alpha in front of them.

Don't forget why you set out.

Stay at the table, stay relevant, don't die

Every time I see TN of pendle, I ask him, what made you persist for so long? TN said that after leaving kyber, the pendle team went to other industries for a while and missed the defi summer, "so we made a promise to ourselves: we'll never leave." Pendle issued coins in the first half of 2021, and persisted, and finally waited for the dawn of pmf in the first quarter of 2024. The price of pendle is like a heroic journey of this team. After a long search (this is painful, I understand everything), my rank has been upgraded to a higher level. TN wrote in the article a few days ago, "job's not done."

- "Borrow falsehood to cultivate the truth." Is the bubble a lively illusion or a huge opportunity? The bubble of huge financing and money-burning subsidies is not unique to the currency circle. Luckin Coffee went public at Lightspeed, but was shorted and delisted due to data fraud. In the end, it turned out to turn the market with "raw coconut milk latte yyds". again, decide who you are, how to walk on the road, and what you want to accomplish.

The real world that each of us sees is largely a reflection of our own inner self. What you believe, what you are anxious about, how to interpret and how to act are all your choices.

Lurpis (Bifrost)

After seven years of experience, I felt that this industry has less and less positive feedback on ideal developers. Making an excellent product in web3 is far from the applause and attention received by pulling the market. In addition, "It's useless to make products, just learn how to make markets well", "As long as it doesn't rise, it's garbage", "Meme's market value can surpass you, why don't you send meme coins", after hearing these too much, "Making an excellent product" in the currency circle should not appear. In this environment, it's hard not to persuade developers who rely on their passion, save money to polish details, and hope that good products and technologies can change the world.

Be kind to them, after all, they are the ones who ultimately drive the industry forward.

Oar (lmk.fun)

Blockchain is a "revolution" of production relations, and the revolution must be dark, long-term downturn, and chaotic. AI and robots are all about improving productivity, which is in the interests of the public and can see the results in the short term.

Just like me in the past three years, my biggest mistake was to pursue hot spots, and in the end I realized that if the idea of ​​day1 was completely executed, there might be better results.

Only long-termism can survive in a highly volatile market.

Keer

It is a very terrible thing to have a bunch of people who can only see appearances but keep "starting a business".

These people were attracted by the concept of the meta-universe when NFT was in full swing. After ChatGPT was released, they FOMO All in AI. Before leaving, they left the sentence "The currency circle is a casino." Maybe when the bull market comes, I am attracted by a certain narrative and want to come back and issue coins. In the end, the bamboo basket was useless.

Meme is the only way to the process of denationalization of currency.

I don't think that the so-called AGI narrative is more "magnificent" than the denationalization of currency. The former changes productivity, while the latter changes production relations. Which one is more important?

What happens in the currency circle now is that the value discovery of the tokens of this non-sovereign state has been transferred from the primary market to the chain. Since blockchain gives everyone the ability to issue currencies, price discovery should follow the competition of free markets. This is the essence of Meme—a mockery of the existing order.

Why should the market pay for the price decided by a small group of people? Because you are the Divine Dragons who graduated from Stanford? If VCs and "excellent entrepreneurs" really dominate the market, then the currency circle is the real road to slavery!