Can Bitcoin Thrive in the AI-Centric Future? with Nic Gregory

Magic Internet Money

This episode was recorded on April 27, 2023

In this episode, Brad Mills is joined by Nicolas Gregory, an AI connoisseur, fervent bitcoiner, and co-writer of the CivKit White Paper. Amidst a backdrop of financial tumult as depicted in cinematic tales such as “Margin Call” and “The Big Short,” Gregory recounts his evolution from a software engineer entrenched in the throes of the 2010 banking crisis to a pioneer in the Bitcoin and distributed computing revolution.

During his tenure in a bank's equities wing, Gregory gained critical insights into the mechanics of derivatives trading—expertise that now fuels his advocacy for Bitcoin's promise amidst the skepticism surrounding centralized financial institutions. The episode uncovers Gregory's early days within the close-knit Bitcoin community of New York, chronicling his transition into the startup sphere following the government's bailout of banks.

Throughout the conversation, Brad and Nic dissect the intricacies of CommerceBlock's endeavours, including their trailblazing Mercury wallet initiative. The dialogue shifts toward the shifting landscape of finance in light of emerging Central Bank Digital Currencies (CBDCs) and the potential implementation of Universal Basic Income—developments that are set to redefine the very fabric of monetary systems.

The episode delves into the mass exodus of top-tier talent from traditional finance to tech giants and startups, igniting an AI renaissance that threatens to reshape industries and employment. They explore the increasing centralization of AI, its impact on cybersecurity, and the looming threat of job displacement, even within the programming sector.

Timestamps

[00:00] Commerce Block's Mercury wallet enables anonymous transactions.

[03:44] Customized Elements code, explored state chain concept.

[06:35] Movies depict financial collapse and banking crisis.

[11:13] Peer to peer rising, challenging centralized options.

[14:36] Purchasing data centers, centralized AI, computing capacity.

[18:02] Insider information hints peer-to-peer disruption ahead.

[22:44] AI agents learn and replicate to scam.

[24:11] AI agent creates fake negative restaurant reviews.

[27:10] AI acceleration threatens privacy, regulations essential.

[30:12] AI is replacing jobs in software industry.

[33:28] Met at Bitcoin meetup, introduced paradigm, diverse group.

[37:28] Creating pluggable toolkit for potential user framework.

[41:30] Agree on UBI, transition to sound money.

[43:08] Growing up in the 80s, world seemed uncertain.

What is CivKit?

CivKit is a protocol designed to transform peer-to-peer trading by fostering a web of trust and privacy through its advanced use of Nostr and Lightning Network protocols.

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