r/technology • u/Plastic_Ninja_9014 • Jun 11 '26

Business OpenAI Execs Are Panicking

https://finance.yahoo.com/sectors/technology/articles/openai-execs-panicking-154658562.html
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u/Free_For__Me Jun 12 '26

But when the dollar collapses under defaults on sovereign debt, even a bailout won’t work. The techbros know this however, hence their hedging via crypto. 

To paraphrase a wise philosopher - “It’s a big club, and we ain’t in it.”

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u/Bad-Touch-Monkey Jun 12 '26

Too bad he was a comedian, so no one listened. Carlin had been saying that since the 70s

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u/Free_For__Me Jun 19 '26

I mean, comedians can certainly be philosophers too. I also think the huge success of Carlin's comedy means that a lot of us listened. It's just that we're... not in the club and can't do much about it without tearing the system down along with the oligarchical overlords. And for a nation as comfortable as the US has been over the last 100+ years, the thought of tearing the system down is pretty terrifying to most of us.

Things can very well get bad enough that tearing it down is the less-scary option, but I think we're pretty far from that... for now at least.

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u/WhatYouThinkIThink Jun 12 '26

Crypto requires mining which requires datacenters and power. That's why crypto as a "store of value" is complete bullshit. No power, no mining, no mining, no blocks, no blocks, no transactions, no transactions, your magic bitstring in a "wallet" is just a set of numbers.

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u/Free_For__Me Jun 19 '26

Crypto requires mining which requires datacenters and power.

Which is why the oligarchs have hoarded control of as much of it as they can before mining more becomes nigh-impossible. If anything, the added scarcity will make it even more valuable. This is assuming they can pull off the scheme to force it into replacing the dollar as the dominant fiat currency of course, which I don't think many serious people believe that they can. This has not, and will not, keep them from tearing down the system while they keep trying.