Things like this detract from the credibility of AI safety work, IMO -- it sounds spicy ("o1 tried to escape!!!") but when you dig into the details it's always "we told the robot to act like a sociopath and maximize power, and then it did exactly that".
Celebrating ETFs hoarding #Bitcoin like it's a gold star for capitalism is like applauding a baby for learning to scream - loud, disruptive, and utterly missing the point of Bitcoin's decentralized ethos
Summary of MSTR situation from spaces today. Thanks to Josh, Dark Side of the Moon and others for input.
1. At about 2pm PST today., 2 Billion dollars of Tether were minted.
2. It's extremely likely that MSTR was the source of these 2 Billion dollars in Tether. It uses USDT to buy Bitcoin on exchanges including Binance.
3. At the time Bitcoin was 97,300. It has since climbed to 98,300 as MSTR buying bots have started operation.
4. The 2 Billion is just the start. MSTR raised 3 Billion from the convertible, and probably issued anywhere from 2 to 9 Billion using its ATM facility. In other words, it now has potentially up to 12 Billion to put to work.
5. This massive warchest is expected to be deployed before Wednesday, and possibly by Monday, with a resulting 8K, indicating MSTR now has up to 120K new Bitcoin, and the mnav is down from 3.3 to 2.6 (based on 426 share price)
6. No trading on Thursday, and then possible / probable inclusion in QQQ on Friday based on Jump in Price to 500+
Including in here my spreadsheet showing the 12 Billion ATM + convert analysis.
https://t.co/d1J8LQjsUY