Still seduced by the siren call of Bitcoin? Then let me introduce you to the cryptocurrency's lates cheerleader and opportunistic ghoul: Arthur Hayes. His latest sage wisdom: Bitcoin will prosper from the mass job massacre set to be unleashed by AI. Let's make no mistake, Hayes isn't heralding the end of human employment with any kind of sorrow. No, this is the champagne-popping heraldry of a man who’s bet his fortune on the misery of others.
In a twisted logic worthy of Wall Street's worst, Hayes sees a correlation between Bitcoin's fortunes and the tech-heavy NASDAQ 100 index. That's right, as more people lose their jobs and banks feel the strain, Hayes believes Bitcoin will step into the breach. It's a grim and ghoulish gambit, a bet that the loss of livelihoods will line his pockets. The question should not be whether he's correct, but rather, how we ever let ourselves become such easy prey.
Hayes, like the rest of the crypto-cult, loves to position Bitcoin as the underdog hero, the monetary equivalent of Robin Hood. But here's the unvarnished truth: Bitcoin is an unregulated, unstable gamble that enriches the few at the expense of the many. While Hayes and his cronies dance on the graves of traditional jobs, the majority will be left picking through the wreckage of a scorched economic landscape.
Let's dissect his argument. AI job losses triggering bank stress? Absolutely. As AI bulldozes through the job market, banks will undoubtedly feel the aftershocks. But to suggest Bitcoin as the solution is lunacy. Bitcoin isn't the antidote to these problems; it's a volatile asset that risks exacerbating them.
Hayes and his ilk are peddling a dangerous narrative: that a world hemorrhaging jobs is a world ripe for Bitcoin. This is nothing more than smoke and mirrors, a slick magic trick designed to divert attention from the real issues: income inequality, job insecurity, and the unchecked power of tech giants.
His argument isn't just an affront to economic decency; it's a slap in the face to the workers who will bear the brunt of this AI-led job apocalypse. It’s a narrative that glorifies the destruction of traditional jobs and the suffering of those who lose them. This isn't just a financial calculation; it's a moral travesty.
Bitcoin is not the financial Messiah set to liberate us from oppressive banking systems. It's a Trojan Horse, a tool of the very elite it purports to overthrow. And in Hayes's vision, it becomes a carrion bird, swooping down to feed on the carcasses of lost jobs and collapsing banks.
Remember this: Bitcoin was born out of the ashes of the 2008 financial crisis, a crisis caused by the same kind of reckless gambling Hayes is endorsing. It's an irony as rich as it is chilling. With every job lost to AI, Bitcoin's power players tighten their grip, their grins widening in proportion to the public’s despair.
It's time to stop celebrating those who profit from our pain. Enough with the Bitcoin furphies. Let's shine a light on the real villains: the tech giants automating jobs out of existence, the policymakers allowing this massacre to happen, and the opportunists like Hayes waiting in the wings to profit off the fallout.
Bitcoin isn't your salvation. It's a ticket to a dystopia where your livelihood is a betting chip in a high-stakes gamble. Don't let the likes of Hayes convince you otherwise.
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