zlacker

>>kcorbi+(OP)
The major difference between the 2 is how they're being adopted by customers and the tangible value they return.

AI/ML barrier to entry is far simpler and vastly user friendly compared to crypto. Instant value return or gratification from ML products (GTPs and rest) is far more mainstream friendly.

Another view is the "loss" factor. Nobody, thus far, has has had their funds stolen or lost using ML products. I understand content creators and those who, unwillingly, contributed knowledge to learning systems did get circumvented but i'm talking about users/customers. Compare that to the negative stigma of crypto frauds and stereotypical association to illegal transactions.

Apples vs. rotten oranges in my opinion!

>>bamazi+Ye
Exactly. People, average everyday people, are using and getting value out of AI right now. Are we to ignore that?

>>2OEH8e+Jf
Average every day people are using and getting value out of crypto right now too. Are we to ignore that?

>>distor+Xg
I what way does an average consumer/user get value from crypto?

>>kwonki+Ui
send and receive money globally without any intermediary?

>>jejeyy+Yp
Let's say I want to send money from New York to Rome. How does crypto enable me sending USD and the receiver getting EUR without any intermediaries?

You need exchanges to do anything useful in crypto. And as we've seen most recently in the FTX case, all the exchanges are wretched hives of scum and villainy.

>>pavlov+7u
> all the exchanges

Not really. There are plenty of decentralized exchanges which are proven, reliable, auditable, generally used by many without issues.

see: https://uniswap.org https://curve.fi/ https://1inch.io

It's the centralized exchanges, which are more akin to traditional financial institutions whose records are not on a publicly visible blockchain but rather private databases or... apparently spreadsheets... which fall victim to the same issues we have seen in the past in the traditional financial world.

>>damon_+Ey
So you need at least 2 middlemen. One exchange where you buy crypto and another exchange where your friend sells that crypto.

Or you could simply use a traditional wire transfer and currency would be converted automatically. USA and Italy exchange millions of dollars every day - it's nothing special.

>>zirgs+dM
To actually get the money to the other person via wire transfer is actually quite a process (having done many myself).

- You will need to get permission from your bank to send international wire transfers (sign forms/agreements). - takes a long time (in the order of days) - expensive (~$50-$75 for outgoing international wire, and $25-$50 to receive it).

>>jejeyy+NU
I think this really depends. I send wire transfers pretty often. For me it's $20 to send and $0 to receive. It takes anywhere from 2 days to a week normally. I don't need permission to send them (though I do need to call the bank to verify the information and purpose), and I also need to provide the purpose of the funds to the receiving bank (and need to show I own the sending account, if I'm the sender and receiver).

Crypto is very likely neither cheaper nor faster, since you can't spend the crypto directly, and need to FX it through an exchange on the sending side and the receiving side, each of which will take a cut (often percentages of the total). You also need to fund the account sending, and you need to transfer from the exchange receiving to a bank account. Both of those transfers could also cost money. You're also doing FX twice (USD -> crypto, crypto -> Yen), rather than once (USD -> Yen).

If you fuck up an international wire transfer, it may take a month or two for the funds to make it back, and you may need to have numerous conversations with both banks (I've been through this pain more than once and it sucks). If you fuck up a crypto transfer you lose your money with no recourse.

All-in-all the wire transfer is the better (and probably cheaper/faster) experience.