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Believe in God? You'll Believe in AI Too

A Surprising Study, Bitcoin's Dive, and Web3 Essentials

Author

Nitesh Padghan
August 20, 2023

Read time: 2.5 minutes

Welcome to the very first edition of TechToken.

This isn't just another newsletter. It's a conversation. A place where we're going to explore some pretty cool stuff in the world of web3. No jargon, no fluff, just real talk about what's happening out there.

I'm glad you're here, and I can't wait to get started. Feel free to jump right in, and if you've got something to say, I'm all ears.

IN TODAY’S EDITION

  • The AI Corner: A study reveals an Unexpected Link between Faith and AI

  • Crypto Watch: Decoding the Whys and Whats of Bitcoin's Flash Crash

  • Web3 Toolbox: 5 Tools for Analytics, Tracking, and Security in DeFi

  • Event Calendar: Exciting Web3 events taking place between 21st to 30th August.

  • Techtoken Recommendation: Handpicked Books, Articles, and Podcasts Just for You.

THE AI CORNER

Believe In A Higher Power? You Might Believe In AI, Too

Ever linked faith in a higher power to trust in AI? A recent study found a surprising connection.

Researchers asked participants to write about God and daily life, then choose between human and AI options. The choices ranged from lunch to investments, involving over 53,563 participants from 21 countries.

What did they find?

  • People thinking about God were more open to AI advice.

  • Feelings of humility and recognizing human flaws led to AI receptivity.

The Experiments:

  • One involved playing religious music in a dentist's waiting room for a week. Those who heard the tunes were likelier to choose AI-suggested fish oil supplements.

  • In total, the researchers conducted several study groups, including 405 US-based participants (321 after screening), 191 participants from Turkey, and more.

The Big Picture:

  • AI is as pervasive as the idea of a higher power.

  • While people leaning towards God were more likely to accept AI suggestions, there's still a negative bias toward algorithms, especially in subjective or empathetic situations.

Why it Matters?

As AI impacts everything from movie picks to medical procedures, understanding why we trust or reject AI is vital. This study sheds light on an unexpected link between faith and our relationship with technology.

In a world where AI is shaping our lives, the idea that our beliefs might influence how we interact with machines is both fascinating and essential to explore.

CRYPTO WATCH

Decoding the Whys and Whats of Bitcoin's Flash Crash

Source: CoinDesk

Bitcoin's been pretty steady for weeks, but yesterday? It suddenly took a nosedive, hitting lows not seen in two months. Trading for $26,060 per coin, that's a dip of over 11% in just seven days. But hang on, it's still up from Thursday's low of $25,649, though well below the June highs of over $31,000.

So, what's behind this flash crash?

A lot of it has to do with big-picture stuff, like the wider economy, American regulation, and big investors feeling unsure. Liquidity in the Bitcoin market has been shrinking on major exchanges like Binance and Coinbase. When the big holders want to move their stash, the rest of us feel it. And feel it we did: Bitcoin shed 7% of its value in just 20 minutes.

There's more to the story, though. A cascade liquidation of over $1 billion spooked investors, following news about China's Evergrande Group filing for bankruptcy protection. And then there were whispers about Elon Musk's SpaceX and its Bitcoin holdings. Who knows if that's true, but it got people talking.

Remember BlackRock? The world's biggest asset manager made waves with a Bitcoin crypto exchange-traded fund (ETF) application back in June. Investors were hopeful, but the SEC is playing it cool, not rushing to approve anything. The market's also watching China's woes and staying tuned to regulatory decisions.

The experts? They're telling us that Bitcoin's wild rides are here to stay, at least for the short term. The environment's "fairly shaky," and we can expect some high volatility.

WEB3 TOOLBOX

Analytics, Tracking, and Security in DeFi

1. DeBank: Want to keep tabs on the total value locked in smart contracts? DeBank tracks the gross value locked (GSV), summing up the USD value of all ETH and other ERC-20s.

2. DefiLlama: If you're looking for a one-stop dashboard for DeFi analytics and rankings, DefiLlama has got you covered.

3. Defistation: Building on Binance Smart Chain (BSC)? Defistation offers analytics and rankings tailored just for DeFi projects on BSC.

4. DeFi Market Cap: Metrics matter and DeFi Market Cap is the place to find key numbers for several DeFi protocols.

5. REKT Database: In a world of opportunity, there are risks too. The REKT Database is your safeguard, with a collection of 2,500+ DeFi scams, hacks, and exploits.

EVENT CALENDAR

🔸 ISTANBUL Blockchain Week 2023: Dive into the heart of blockchain in Istanbul, Turkey from August 21-25 at 10:00. Learn more | Add to Calendar

🔸 WFIS 2023 - Philippines: Join the financial innovation summit in Manila on August 22-23 at 09:00. Learn more | Add to Calendar

🔸 MPC Conference: Explore digital commerce in Atlanta, Georgia from August 23-25 at 09:00. Learn more | Add to Calendar

🔸 SPORTS BETTING WEST AFRICA+: Bet on blockchain in Lagos, Nigeria from August 23-25 at 09:00. Learn more | Add to Calendar

🔸 Surfin' Bitcoin: Ride the crypto wave in Biarritz, France from August 23-25 at 10:00. Learn more | Add to Calendar

🔸 MPC: The Digital Commerce Event: Delve into e-commerce in Atlanta, USA from August 23-25 at 10:00. Learn more | Add to Calendar

🔸 Bites, Brews, and Blockchain: Savor crypto discussions in Bali, Indonesia on August 23 at 11:30. Learn more | Add to Calendar

🔸 Inner Circle: Join the exclusive crypto circle in Bali, Indonesia on August 23 at 16:00. Learn more | Add to Calendar

🔸 Buzz & Booze With CoinEx: Mix crypto with cocktails in Bali on August 23 at 19:00. Learn more | Add to Calendar

🔸 OFFZONE 2023: Get into the crypto zone in Moscow, Russia from August 24-25 at 09:00. Learn more | Add to Calendar

🔸 Coinfest Asia 2023: Celebrate crypto culture in Bali from August 24-25 at 10:00. Learn more | Add to Calendar

🔸 Meet For Speed: Race to the future of crypto in Bali from August 24-25 at 10:00. Learn more | Add to Calendar

🔸 Bit Block Boom: Experience the crypto explosion in Austin, USA from August 24-27 at 10:00. Learn more | Add to Calendar

TECHTOKEN RECOMMENDATION

📘 Books:

  • "The Age of Cryptocurrency" by Paul Vigna & Michael J. Casey: If you're looking to understand the underlying philosophy of cryptocurrencies, this book is a must-read.

  • "Mastering Blockchain" by Imran Bashir: From beginners to experts, this comprehensive guide to blockchain technology is packed with knowledge.

📰 Articles:

🎙️ Podcasts:

TICKLE YOUR TOKENS

Alright, that’s it for today!

Until next Tuesday!

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