This research was gathered to determine the effect of bitcoin on artificial intelligence. There were many different forms that this research took, including surveys and short interviews with people involved in artificial intelligence. Visit The News Spy Official Website for more information on bitcoin trading.
This process allowed for a large amount of data to be collected, giving us an idea of how much bitcoins affects artificial intelligence.
7 Ways How Bitcoin Affects Artificial Intelligence
First off, a large part of how artificial intelligence will function in the future will be based on blockchain technology.
This is mainly because the data gathered will have to be stored somewhere to avoid altering or corruption due to outside forces.
For this idea to work, though, a large amount of data has to be stored, which comes directly from the blockchains associated with these cryptocurrencies.
1. ASIC’s are being used in artificial intelligence
One of the most apparent ways bitcoins affect artificial intelligence is using ASIC technology to mine them.
This technology is being directly incorporated into the applications where the miners are faster and more energy-efficient than any other system that would perform similar functions.
2. Bitcoin mining uses less energy than data mining
In the past, people have been using GPUs to mine bitcoins. This has worked great, but much electricity is being used.
3. The decentralization of computing resources
Another way bitcoins affect artificial intelligence is by taking a large number of computing resources and placing them in a decentralized manner so that there isn’t too much congestion from all the transactions being put into one place.
4. Bitcoins can be used to construct artificial intelligence for new purposes
The bitcoins themselves are becoming more and more valuable, which has led to aesthetically pleasing mining rigs and new ideas on how they can be used to construct artificial intelligence.
5. Cryptocurrency is the first large scale adoption of artificial intelligence
The use of cryptocurrency is the first large-scale introduction into artificial intelligence that has been seen to date.
6. The lack of government regulation will lead to more innovation
There have been fears that bitcoins and other cryptocurrencies have no natural governing body that would regulate them.
This has allowed people to access them at a decent rate and fewer governmental restrictions, leading to more innovation.
7. The deflationary nature of bitcoin
This is one of the most critical aspects that tie into artificial intelligence. It requires some money to function but doesn’t necessarily have to be worth an extreme amount.
This means that when artificial intelligence starts to become more mainstream, the price of bitcoins will go up exponentially.
5 Negatives of bitcoin that affects artificial intelligence
1. The reliance on artificial intelligence on the blockchain
The problem with this is that if any of these cryptocurrencies were to crash, then so would all of the data stored within them, which would affect many applications built upon the technology.
2. Artificial intelligent robots will take over bitcoins miners
This isn’t a significant concern, but there have been talks of artificially intelligent robots taking over the current miners of bitcoins.
3. The price volatility affects the application of artificial intelligence
Since bitcoins are so volatile in their value, many companies and investors will hesitate to invest much money into them, which means fewer cryptocurrency applications.
This is a problem since it would reduce all revenues made by artificial intelligence companies.
4. Large fluctuations in prices could affect the supply of bitcoins
Suppose there are large surges or drops in the collection of bitcoins. In that case, it can be reflected on all other cryptocurrencies out there, meaning that artificial intelligence will have to consider this when building their applications which would only slow down progress even more.
5. Bitcoins is too decentralized
This might change in the future, but bitcoins are decentralized and don’t work well with large institutions like banks or governments.
Bitcoin has played a significant role in advancing artificial intelligence by becoming more mainstream. Bitcoin is also what will be used as the main currency for artificially intelligent robots, and it is because of this, bitcoin could one day dominate all other cryptocurrencies.