Cardano Dan's Newsletter - Issue #16
AI - To fear or not to fear
Welcome to the quick-hitting newsletter about Cardano, Crypto Trading, Blockchain, Monetary Policy, & Data Privacy.
I hope you enjoy this newsletter and a little Elon Musk action.
Quote of the Day
I love Cardano.
― Elon Musk
Just kidding. But he did say
“Mars economy will run on crypto”
and related to the topic of the week
Today’s newsletter is sponsored by Cardano Dan’s Stake Pool & my partner Reliable Staking.
Our Cardano stake pools provide high performance and low fees. We greatly value your support!
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Thoughts on AI
I have a nonzero amount of professional exposure to machine learning and AI research. With that as some context, I both agree with Musk’s concerns and believe he’s overstating them at the same time.
If AI is applied in the wrong places without the right controls, it absolutely will cause conflict and death. Something doesn’t need to become full-on Terminator to cause a lot of problems.
I don’t believe any of the world’s superpowers or corporations are naïve enough to place AI in a position to cause WW3. I do however believe that the law of unintended consequences (actions of people, and especially of governments, always have effects that are unanticipated or "unintended") means that the application of AI will result in unanticipated effects.
The recent electric grid problems in Texas provide a great example of this “law” in action. Here’s an article explaining why by one of our community’s favorite personalities, Ron Paul.
If you’re interested in a great science fiction read that takes out-of-control AI interacting via DAOs to the extreme, I highly recommend Veracity by Douglas Richards.
Around the Block
In a glorious coincidence of the most perfect timing possible, Sophia’s first artwork is going up for sale as an NFT this week!
Cardano Nugget
Don’t miss the March edition of Cardano 360 airing TODAY!!! I’m personally expecting the announcement of some important dates as part of this update.
Investing Nugget
When you invest in a portfolio of assets, you want to have a diversified portfolio where your investments aren’t correlated to each other or other asset classes. You’re looking to manage your risk and avoid intercorrelated assets where, if one thing goes down, everything goes down. Are you investing in cryptocurrencies with this idea in mind?
Check out this video from Real Vision Crypto and jump to the “Building a Portfolio” section for a deeper dive on the topic.
Technical Analysis
Some key points about ascending triangles per Murphy1:
Pattern completes on a decisive close above the upper line
Breakout should see a sharp increase in volume
Upper resistance should act as support on a subsequent retest
Minimum price target is a measured move of height of the triangle from the point of breakout
Here’s my poor drawing skills representing this move. A clear path to $2 Cardano ADA. Sweet dreams.
Before You Go
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What do you think? I’d love to hear your thoughts, questions, and feedback below!
This newsletter is for entertainment and educational purposes. I’m not a financial advisor and you should do your own research and consult a financial advisor before investing in cryptocurrencies.
Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications, John J Murphy
A day will come and stay a day #ADA
Nice old friends 🐣