The Rise of Memecoins and Their Impact on Bitcoin Fees.
The ongoing trading frenzy of memecoins like Pepe has triggered an unwanted consequence for Bitcoin (BTC) — raising its transaction costs to their highest point in two years. Calculations from on-chain analytics firm Glassnode suggest that since 2010, fees and block reward subsidies have netted miners billions. Artificial intelligence pioneer and former Google employee Dr. Geoffrey Hinton shared his concerns about the technology that he helped develop over the past several years. A wild Bitcoin price wager between former Coinbase chief technology officer Balaji Srinivasan and pseudonymous Twitter user James Medlock has been settled 45 days ahead of time for $1.5 million. Microsoft recently announced a number of new AI-powered features for its Bing chatbot and Edge web browser, including full access to the GPT-4 model.