Pause – Coin Network News https://coinnetworknews.com If it's coin, it's news. Mon, 26 Feb 2024 14:42:29 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 Ethereum Technical Analysis: Upper Resistance Tussle Puts Bulls on Pause https://coinnetworknews.com/ethereum-technical-analysis-upper-resistance-tussle-puts-bulls-on-pause/ https://coinnetworknews.com/ethereum-technical-analysis-upper-resistance-tussle-puts-bulls-on-pause/#respond Mon, 26 Feb 2024 14:42:29 +0000 https://coinnetworknews.com/ethereum-technical-analysis-upper-resistance-tussle-puts-bulls-on-pause/ Ethereum Technical Analysis: Upper Resistance Tussle Puts Bulls on PauseEthereum’s price movement on Feb. 26, 2024, showcases a strong uptrend despite recent market volatility. With the second leading crypto asset’s price hovering around $3,064, it reflects a significant surge over the past month. At press time, market oscillators and moving averages signal mixed sentiments, hinting at both potential pullbacks and further gains. Ethereum Ethereum […]

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First Mover Asia: Bitcoin at $28.6K Remains Unstirred by Binance Temporary Withdrawal Pause https://coinnetworknews.com/first-mover-asia-bitcoin-at-28-6k-remains-unstirred-by-binance-temporary-withdrawal-pause/ https://coinnetworknews.com/first-mover-asia-bitcoin-at-28-6k-remains-unstirred-by-binance-temporary-withdrawal-pause/#respond Mon, 08 May 2023 01:07:32 +0000 https://coinnetworknews.com/first-mover-asia-bitcoin-at-28-6k-remains-unstirred-by-binance-temporary-withdrawal-pause/
PLUS: Bitcoin maximalists find Ordinals annoying. But they are a good thing for the network in the long run.

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Bitcoin Network Congestion Causes Binance to Pause Withdrawals https://coinnetworknews.com/bitcoin-network-congestion-causes-binance-to-pause-withdrawals/ https://coinnetworknews.com/bitcoin-network-congestion-causes-binance-to-pause-withdrawals/#respond Sun, 07 May 2023 19:35:32 +0000 https://coinnetworknews.com/bitcoin-network-congestion-causes-binance-to-pause-withdrawals/
The world’s biggest crypto exchange has now resumed withdrawals, but problems continue to linger for the bitcoin protocol.

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ECB Raises Interest Rates by 25bps Amid ‘Too High’ Inflation, ‘No Pause,’ Lagarde Says – Finance Bitcoin News https://coinnetworknews.com/ecb-raises-interest-rates-by-25bps-amid-too-high-inflation-no-pause-lagarde-says-finance-bitcoin-news/ https://coinnetworknews.com/ecb-raises-interest-rates-by-25bps-amid-too-high-inflation-no-pause-lagarde-says-finance-bitcoin-news/#respond Fri, 05 May 2023 03:45:29 +0000 https://coinnetworknews.com/ecb-raises-interest-rates-by-25bps-amid-too-high-inflation-no-pause-lagarde-says-finance-bitcoin-news/

The European Central Bank (ECB) raised its key interest rates by 25 basis points, slowing the pace from previous increases. However, as inflation in the euro area remains persistently high, future rate hikes may still be expected with the regulator insisting it will continue to seek a “timely return” to its 2% inflation target and ECB president Christine Lagarde stating that rates are not “sufficiently restrictive” yet.

ECB Eases Pace of Hiking Interest Rates in the Eurozone

The Governing Council of the European Central Bank (ECB) decided to raise three key interest rates by 25 basis points (bps) on Thursday. While slowing the rate hikes, the monetary authority indicated that future increases are possible as its fight to tame inflation goes on.

“The inflation outlook continues to be too high for too long,” the regulator highlighted in a press release after the council’s meeting. It explained that while headline inflation has declined over recent months, underlying price pressures remain strong.

The interest rates on the main refinancing operations, the marginal lending facility, and the deposit facility will be increased to 3.75%, 4.00% and 3.25% respectively, from May 10, 2023, the announcement detailed. The 25 bps raise to the policy rates is the smallest since hiking began in July 2022.

At the same time, the ECB emphasized that the council’s future decisions will aim to ensure that “a timely return of inflation to the 2% medium-term target” is achieved. It also said that the “sufficiently restrictive” levels will be maintained “for as long as necessary.”

‘We Are Not Pausing, We Have More Ground to Cover,’ ECB’s Lagarde Insists

The slowdown in Europe follows the U.S. Federal Reserve’s decision to increase its benchmark interest rate by the same 25bps on Wednesday, with analysts interpreting the accompanying statements as hinting that this may be the last in the Fed’s own series of hikes.

However, ECB President Christine Lagarde made it clear that European interest rates are not yet “sufficiently restrictive” to bring inflation down. Speaking at a press conference after the Governing Council’s meeting in Frankfurt, she stated:

We are not pausing — that is very clear. We know that we have more ground to cover.

Quoted by Reuters, she insisted that the ECB is “not Fed-dependent,” dismissing the notion that if the U.S. pauses its rate hikes, the eurozone’s monetary policy regulator would have to do the same. She highlighted the “significant upside risks” to inflation that remain in the common currency area and admitted that some governors were favoring a bigger rate hike.

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Central Bank, ECB, Euro, euro area, European Central Bank, Eurozone, Fed, Federal Reserve, hikes, increase, inflation, interest rates, Lagarde, President, rate hikes, rate increase, rates

What are your forecasts for the ECB’s next policy decisions on interest rates? Share them in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.




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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



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M11 Credit Resumes Crypto Lending on Maple Finance After FTX-Spurred Pause https://coinnetworknews.com/m11-credit-resumes-crypto-lending-on-maple-finance-after-ftx-spurred-pause/ https://coinnetworknews.com/m11-credit-resumes-crypto-lending-on-maple-finance-after-ftx-spurred-pause/#respond Wed, 05 Apr 2023 23:33:23 +0000 https://coinnetworknews.com/m11-credit-resumes-crypto-lending-on-maple-finance-after-ftx-spurred-pause/
The firm introduced an upgraded credit underwriting process and appointed a new head of credit. The developments came after M11 Credit suffered $36 million of loan defaults on lending protocol Maple Finance following FTX’s November collapse.

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Tech Industry Leaders Call for AI Labs to Pause Development for Safety, Coinbase CEO Disagrees – Bitcoin News https://coinnetworknews.com/tech-industry-leaders-call-for-ai-labs-to-pause-development-for-safety-coinbase-ceo-disagrees-bitcoin-news/ https://coinnetworknews.com/tech-industry-leaders-call-for-ai-labs-to-pause-development-for-safety-coinbase-ceo-disagrees-bitcoin-news/#respond Fri, 31 Mar 2023 23:51:46 +0000 https://coinnetworknews.com/tech-industry-leaders-call-for-ai-labs-to-pause-development-for-safety-coinbase-ceo-disagrees-bitcoin-news/

This week, 2,600 tech industry moguls and entrepreneurs, including Elon Musk, Gary Marcus, and Steve Wozniak, signed an open letter requesting artificial intelligence (AI) labs to pause research and development for six months. The signatories believe that safety programs and regulations need to be strengthened, as they assert that AI labs are currently in an “out-of-control race to develop and deploy” this technology. On Thursday, Coinbase CEO Brian Armstrong disagreed with this approach, stating that people should not “let fear stop progress.”

The Debate on AI Safety: Tech Industry Leaders Call for a Pause in Development, Many Oppose the Idea

An open letter signed by 2,600 leaders and researchers in the tech industry recommends that AI labs pause their work for six months, and if they refuse, governments should impose a moratorium on development. The group believes that AI is “now becoming human-competitive at general tasks,” and asserts that powerful AI systems should be developed “only once we are confident that their effects will be positive and their risks will be manageable.”

“Unfortunately, this level of planning and management is not happening, even though recent months have seen AI labs locked in an out-of-control race to develop and deploy ever more powerful digital minds that no one — not even their creators — can understand, predict, or reliably control,” the open letter states. The signatories who signed the letter include Tesla CEO Elon Musk, politician Andrew Yang, AI author Gary Marcus, and Apple co-founder Steve Wozniak.

Furthermore, the letter notes that AI developers need to work with policymakers if they are creating powerful AI systems. The letter emphasizes that AI could threaten democracy and cause dramatic economic and political disruptions. However, while the letter has more than 2,000 signatories, not everyone agrees with pausing, and some have called it “ridiculous.” “Among all the obvious reasons why this temporary pause seems like a silly idea, I also can’t help feeling like this could be a knee-jerk reaction by the corporate elite after having seen just how easily this technology will make many of their goods and services irrelevant,” one individual wrote.

“This is a bad call. Only forward,” another individual tweeted. On Thursday, Coinbase CEO Brian Armstrong shared his opinion on the matter. Armstrong doesn’t think fear should stop progress and said that people should be wary of such plans. “Count me among the people who think this is a bad idea,” Armstrong tweeted. “There are no ‘experts’ to adjudicate this issue, and many disparate actors will never agree. Committees and bureaucracy won’t solve anything.” Armstrong added:

As with many technologies, there are dangers, but we should keep marching forward with progress because the good outweighs the bad. The marketplace of ideas leads to better outcomes than central planning. Don’t ever let fear stop progress, and be wary of anyone trying to capture control in some central authority.

Many others believe that pausing AI development is not a good idea, and some insist that the plan is for AI monopolies that are already leading the race to maintain self-preservation. Regius Professor and CEO of Chemify, Lee Cronin, wrote, “This is nonsensical. It’s like asking to destroy the book that explains how to build the printing press, which itself was printed on the printing press.” The discussion regarding a pause in AI development has become a topical and controversial subject this week, and it’s currently unclear whether AI labs will follow through with the suggestion.

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ai, AI development, AI labs, AI monopolies, Andrew Yang, Artificial Intelligence, Authority, central planning, Chemify, control, controversy, Creators, Democracy, Development, digital minds, discussion, economic disruptions, Elon Musk, entrepreneurs, Fear, Gary Marcus, manageable risks, moratorium, Open Letter, out-of-control race, pausing, policymakers, political disruptions, positive effects, powerful AI systems, printing press, progress, Regius Professor, Regulations, Research, safety programs, self-preservation, signatories, Steve Wozniak, suggestion, tech industry, technology

What are your thoughts on the debate over whether AI labs should pause their work for six months or continue with progress, and how do you believe the potential risks of AI development should be managed? Share your perspective in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



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Elon Musk and tech execs call for ‘pause’ on AI development https://coinnetworknews.com/elon-musk-and-tech-execs-call-for-pause-on-ai-development/ https://coinnetworknews.com/elon-musk-and-tech-execs-call-for-pause-on-ai-development/#respond Thu, 30 Mar 2023 03:18:26 +0000 https://coinnetworknews.com/elon-musk-and-tech-execs-call-for-pause-on-ai-development/

More than 2,600 tech leaders and researchers have signed an open letter urging for a temporary “pause” on further artificial intelligence (AI) development, fearing “profound risks to society and humanity.”

Tesla CEO Elon Musk, Apple co-founder Steve Wozniak and a host of AI CEOs, CTOs and researchers were among the signatories of the letter, which was authored by the United States think tank Future of Life Institute (FOLI) on March 22.

The institute called on all AI companies to “immediately pause” training AI systems that are more powerful than GPT-4 for at least six months, sharing concerns that “human-competitive intelligence can pose profound risks to society and humanity,” among other things:

“Advanced AI could represent a profound change in the history of life on Earth, and should be planned for and managed with commensurate care and resources. Unfortunately, this level of planning and management is not happening,” the institute wrote in its letter.

GPT-4 is the latest iteration of OpenAI’s artificial intelligence-powered chatbot, which was released on March 14. To date, it has passed some of the most rigorous U.S. high school and law exams within the 90th percentile. It is understood to be 10 times more advanced than the original version of ChatGPT.

There is an “out-of-control race” between AI firms to develop more powerful AI, that “no one – not even their creators – can understand, predict, or reliably control,” FOLI claimed.

Among the top concerns were whether machines could flood information channels, potentially with “propaganda and untruth” and whether machines will “automate away” all employment opportunities.

FOLI took these concerns one step further, suggesting that the entrepreneurial efforts of these AI companies may lead to an existential threat:

“Should we develop nonhuman minds that might eventually outnumber, outsmart, obsolete and replace us? Should we risk loss of control of our civilization?”

“Such decisions must not be delegated to unelected tech leaders,” the letter added.

The institute also agreed with a recent statement from OpenAI founder Sam Altman suggesting an independent review may be required before training future AI systems.

Altman in his Feb. 24 blog post highlighted the need to prepare for artificial general intelligence (AGI) and artificial superintelligence (ASI) robots.

Not all AI pundits have rushed to sign the petition though. Ben Goertzel, the CEO of SingularityNET explained in a March 29 Twitter response to Gary Marcus, the author of Rebooting.AI that language learning models (LLMs) won’t become AGIs, which, to date, there have been few developments of.

Instead, he said research and development should be slowed down for things like bioweapons and nukes:

In addition to language learning models like ChatGPT, AI-powered deep fake technology has been used to create convincing images, audio and video hoaxes. The technology has also been used to create AI-generated artwork, with some concerns raised about whether it could violate copyright laws in certain cases.

Related: ChatGPT can now access the internet with new OpenAI plugins

Galaxy Digital CEO Mike Novogratz recently told investors he was shocked over the amount of regulatory attention has been given to crypto, while little has been towards artificial intelligence.

“When I think about AI, it shocks me that we’re talking so much about crypto regulation and nothing about AI regulation. I mean, I think the government’s got it completely upside-down,” he opined during a shareholders call on March 28.

FOLI has argued that should AI development pause not be enacted quickly, governments should get involved with a moratorium.

“This pause should be public and verifiable, and include all key actors. If such a pause cannot be enacted quickly, governments should step in and institute a moratorium,” it wrote.

Magazine: How to prevent AI from ‘annihilating humanity’ using blockchain