Little Fax Machine

Turns out the hedge to fiat isn’t compute? Compute is the collateral? Makes sense though, proof of work is the original reason for money. Funny how that is coming full circle again. Every single company right now is looking for more ways to hedge out cash, buying out land, infrastructure and distribution channels to render goods or services. Arthur has long been a critic of the financial system, and the more he writes about it the more quickly I am understanding where the financial markets are headed. When I first read the announcement I didn’t fully get it. but the more I look at it the more I see the cash carry trade in ai as a service. -Borrow cheap against the “national security” narrative, while selling inference at spot, government foots the bill under the whole thing printing dollars to fund ai companies Just as bitcoin was a liquidity smoke alarm, it’s clear that a lot of existing crypto is antiquated technology suited to arb the trade. cryptohayes.medium.com/situa…