Crazy. There is a whole lot going on and in lots of different directions. Let’s begin with March.
A new month, the last month of the first quarter and holy cow. This Friday employment numbers, then Daylight Savings Time, Ramadan, St Patrick’s Day, FOMC meeting on interest rates, Spring begins, March Madness basketball tournament, Easter and spring break season. OK then. Gonna be a helluva month.
Speaking of a helluva month, and I was, how about that bitcoin? Huge. Looks like this month is shaping up to be even more spectacular as well. Oh, apologies to bitcoin non-believers/bears/haters. To be fully transparent, I am a strong bitcoin investor (since 2016). But crossing my mind, WHAT IF buyers keep buying and we run out of bitcoin? Seriously, bitcoin is capped at 21M (actually there are less due to loss like forgotten keys, etc). But WHAT IF there is demand for 25M (30M, etc) bitcoins? Would there be a “trading halt?” Rationing? Hmmmmm. Or, just let the price be???????
Before you “poo pah” that thought, remember back a couple years to when El Salvador made bitcoin a legal currency. Several countries (Brazil, Columbia, Argentina and others) were extremely interested in following that initiative. Well, with this latest bitcoin run, El Salvador is debt free and is becoming wealthier. They can now spend on projects to improve the population’s lives. Cool. Other counties have taken note. In other words, investors may compete with countries central banks for fast diminishing bitcoins.
I’m pretty sure you have heard of this AI (artificial intelligence) thing. You know, the thing that is either going to destroy mankind (and womankind, too) or revolutionize our lives for the better. It’s an election year so that makes it a tough choice. Either way, it has it’s pluses and minuses.
I just read an article in the WSJ that pointed out the military has been testing autonomous fighter jets. They have been flying an F-16 piloted by AI that has been beating the best-of-the-best of our human pilots. AND, it can fly at 600-700 mph only 25 feet above the ground. Oh my. Certainly that will save lives in any war, not to mention change the airline industry in the future. (WHAT IF you get on that 14 hour flight to Singapore with no human pilot, flying over the Pacific Ocean and served by robot flight attendants? How will you feel?) I guess that’s all a plus(?).
A very strong negative for AI. It will make bad actors (a/k/a crooks) have an easier time creating scams. AI will make voices, facial features, etc look so real a lot of folks will be fooled. “Fake news” and dis-information created by AI is gonna be a problem. All that is a minus.
Even little tasks sometimes have artificial intelligence generated projects………well, not quite ready for prime time (or flying airliners). I asked AI to research why NVIDIA’s stock went up so much. It came back with the response that since they are selling a lot of chips, they are now planning to into different flavor of salsa (haha).
Still, AI still has bugs to work out. But, overall I believe it’s a plus.
So WHAT IF bitcoin does go to $!M, AI controls the media, flies your aircraft and NVDA does roll out a salsa? Are you ready?
Bill Taylor is the CEO of Digital Wealth News and a 40+ year veteran of the financial markets. You can also ready his weekly musings on BTC, ETH, Gold & SP500 at “The Taylor Market Report“.
