Author: Oliver Dale

TLDR OpenAI is testing an AI-powered search engine called SearchGPT. The prototype combines ChatGPT capabilities with real-time web information. OpenAI plans to eventually integrate this technology into ChatGPT. The company is partnering with select publishers for the initial testing phase. This move positions OpenAI as a potential competitor to Google and other search engines. OpenAI, the company behind the revolutionary ChatGPT, has announced its latest innovation in the field of artificial intelligence: a prototype search engine called SearchGPT. This new technology aims to transform how users interact with online information by combining the conversational abilities of ChatGPT with real-time access…

TLDR Robert F. Kennedy Jr. proposes the U.S. government buy Bitcoin to match its gold reserves. The U.S. gold reserves are worth approximately $615 billion. This would require purchasing about 9.4 million BTC at current prices. Kennedy calls Bitcoin an “honest currency” and supports its decentralized nature. He sees Bitcoin as a hedge against inflation and a way to restore individual liberty. Independent presidential candidate Robert F. Kennedy Jr. has made waves in the cryptocurrency world with a bold proposal: he wants the U.S. government to buy Bitcoin until its holdings match the nation’s gold reserves. This ambitious plan, if…

TLDR VanEck predicts Bitcoin could reach $2.9 million per coin by 2050 in their base case scenario. This assumes Bitcoin will settle 10% of international trade and 5% of local trade by 2050. Bitcoin layer-2 networks are expected to play a key role in overcoming scaling issues. Potential risks include energy demands, miner economics, competition, and government crackdowns. VanEck estimates Bitcoin layer-2 networks could be worth $7.6 trillion by 2050. Asset manager VanEck, known for its spot Bitcoin ETF offerings, has released a bold prediction for Bitcoin’s future. In a recent report, the firm suggests that Bitcoin could reach a…

TLDR Illuvium launched three interconnected Ethereum-based games on the Epic Games Store. The games include Illuvium: Overworld, Arena, and Zero, spanning different genres. The launch followed extensive beta testing and a play-to-airdrop campaign. Technical issues plagued the initial launch, including login problems and disappearing funds. The development team has been working to address bugs and provide solutions. Illuvium, a highly anticipated blockchain gaming franchise, officially launched three interconnected games on the Epic Games Store on July 25, 2024. Built on the Ethereum scaling network Immutable X, the release marks a significant milestone for the project after years of development and…

TLDR Celebrity meme coins on the Solana blockchain have seen significant value drops since their June debut. On average, these coins have lost 94% of their value, with some down over 99%. Celebrities involved include Andrew Tate, Iggy Azalea, Jason Derulo, and others. The rapid creation and launch of tokens through Pump.fun on Solana contributed to the surge. Some celebrities have stopped promoting their coins, raising questions about authenticity. In June 2024, a wave of celebrity-endorsed meme coins hit the Solana blockchain, sparking excitement and speculation in the crypto world. Now, just weeks later, these tokens have experienced a dramatic…

TLDR Bitcoin’s price has rebounded to around $67,000, up 4.3% in 24 hours. There’s anticipation surrounding Donald Trump’s speech at the Bitcoin Conference in Nashville. Analysts speculate Trump may announce plans for a strategic Bitcoin reserve if elected president. Technical analysts identify patterns suggesting Bitcoin could reach $260,000-$263,000 in the future. The $66,000 price level is seen as a crucial support for Bitcoin’s potential rally to new highs. Bitcoin, the world’s largest cryptocurrency, has seen a significant price recovery today. After a period of decline, Bitcoin’s value has bounced back to around $67,000, marking a 4.3% increase in just 24…

TLDR The future of AI development is at a crossroads between democratic and authoritarian visions. The U.S. currently leads in AI development, but this lead is not guaranteed. Authoritarian regimes may use AI to expand power and develop cyber weapons. Four key areas for focus: security measures, infrastructure development, commercial diplomacy, and establishing global AI norms. As AI continues to advance at a rapid pace, a crucial question looms over its future: Who will control the development and implementation of this powerful technology? According to Sam Altman, co-founder and CEO of OpenAI, the world faces a strategic choice between two…

TLDR AI models trained on AI-generated data may experience “model collapse,” leading to degraded performance and nonsensical outputs. Researchers found that within a few generations, AI models can replace original content with unrelated information. Model collapse occurs when AI overlooks less common data points, causing it to train on only a portion of the dataset. The proliferation of AI-generated content on the internet may exacerbate this problem for future AI training. Careful data filtering and access to original, human-generated content may be crucial for preventing model collapse. As artificial intelligence (AI) continues to grow and evolve, researchers have identified a…

TLDR A study of over 700,000 North American online gamblers found that 96% lose money. Lower-income gamblers tend to take greater risks and spend more irresponsibly than higher-income gamblers. 43% of gamblers studied spent above the recommended 1% of their salary on betting. Online casino games led to more irresponsible behavior than online sports betting. Legalization of online gambling increases state revenue but also leads to higher rates of problematic gambling behavior. A comprehensive study by UC San Diego’s Rady School of Management has shed light on the impact of legalized online gambling, revealing concerning trends, particularly among lower-income bettors.…

TLDR US and Asian stock markets experienced sharp declines, with tech and AI-related stocks hit hardest. The S&P 500 fell 2.3% and the Nasdaq dropped 3.6% in their biggest one-day falls since 2022. Major tech companies like Nvidia, Alphabet, Microsoft, Apple, and Tesla saw significant drops in share prices. Investors are concerned about high AI-related spending without immediate revenue benefits. The selloff wiped out about $1 trillion in value from the Nasdaq 100 Index. Financial markets in the United States and Asia experienced sharp declines as investors sold off shares in technology companies, with artificial intelligence (AI) stocks bearing the…

TLDR Hamster Kombat, a popular mobile game with over 250 million players, has become a target for cybercriminals. Malicious actors are distributing fake Android and Windows software that install spyware and information-stealing malware. The game’s popularity is tied to potential earnings from a promised cryptocurrency token. Threats include Android spyware called Ratel, fake app stores with unwanted ads, and Windows malware like Lumma Stealer. Cybersecurity researchers warn that the game’s structure makes it vulnerable to exploitation. Hamster Kombat, a mobile game that has taken the world by storm since its launch in March 2024, is now facing a new challenge:…

TLDR HSBC Australia has announced it will block all payments to cryptocurrency exchanges starting July 24, 2024, citing customer protection against scams. Several other major Australian banks have taken similar actions, including the “Big Four” banks. The decision is based on data showing Australians lost up to $171 million in crypto-related investment scams in 2023. Industry executives argue this trend is stripping Australians of their “financial rights” to participate in the digital economy. Australia’s financial intelligence agency has warned of growing money laundering risks associated with cryptocurrencies. HSBC Australia announced on July 24, 2024, that it would block all customer…

TLDR A solo Bitcoin miner with 120 PH/s hash rate won a full block reward of $218,544 in April 2024 Another solo miner with only 500 Gh/s hash rate (using a small Bitaxe device) mined a block worth about $206,000 in July 2024 Solo mining is rare and compared to winning a lottery due to the low odds of success Bitcoin’s fourth halving event occurred on April 20, 2024, reducing block rewards from 6.25 BTC to 3.125 BTC Most Bitcoin mining is done by large operations or mining pools, making solo mining successes noteworthy In the world of Bitcoin mining,…

TLDR Major gaming companies like Activision Blizzard are increasingly using generative AI tools for tasks like concept art and asset creation. Many game artists and developers fear AI will replace their jobs, with concept artists and 2D artists seen as most at risk so far. Some studios have laid off artists and are now using AI or outsourcing to compensate, while others are developing their own internal AI tools. There’s a divide in the industry between executives excited about AI’s potential and workers concerned about job losses and creative impacts. The use of AI in games is raising concerns about…

TLDR Alphabet reported Q2 earnings of $1.89 per share on revenue of $84.7 billion, beating analyst estimates. Google Cloud revenue reached $10.35 billion with $1.17 billion in operating income, its first time exceeding $1 billion in profit. Advertising revenue was $64.6 billion, but YouTube ad revenue fell short of expectations at $8.66 billion. The company spent $2.2 billion on AI development in Q2, up from $1.1 billion last year. Capital expenditures surged 91% to $13.2 billion as Alphabet invests heavily in AI capabilities. Alphabet, the parent company of Google, reported its second-quarter earnings on Tuesday, demonstrating robust growth and beating…