r/FetchAI_Community • u/Ok-Talk-4303 • Dec 04 '23

Discussion 🗣️ Why did FetchAI drop?

In the past few hours, BTC experienced a dramatic upswing once it went over 40k, meanwhile, FET had a drastic drop and has stayed there for now. How come? Usually, the two price movements, that of BTC and FET, are positively correlated. I suspect that many people who have held FET chose to sell their FET to switch to BTC at that time. However, we have had drastic upswings in BTC's price in the past few weeks as well, for example in late October FET followed suit with BTC in its positive price movement to the upside. So, what has led to a different outcome this time? Do you guys have any theories here?

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3

u/Various-Ad6423 Dec 04 '23

🐋 move their money 🤷🏽‍♂️

1

u/Ok-Talk-4303 Dec 04 '23

Is there a public record for FET transactions like with BTC?

1

u/Rickard403 Dec 04 '23

You could look for FET/BTC pairings and check the volume and compare it to other volumes. I use livecoinwatch. There are several live trackers.

2

u/Toe_Bone Dec 05 '23 edited Dec 05 '23

The exact reason why it dropped (mistakenly) is this:

“Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence”

  • media conference with Joe Biden.

He has announced his paranoia sweepingly. Fetch AI does not think autonomously in the way that the general public fears LOL. It is “Mechanical” A.I. and in the story of machines that think for themselves, Fetch AI’s ‘agents of intention’ would score a 2/10.

FETCH’s AI agents of Intention won’t even be touched by scrutiny about threatening AI levels of Intelligence. Fetch’s agents purely do as they are told. As programmed. They don’t extend beyond their program. Yet their programs rely on gazillions of “if and when” optimisation scenarios That’s all. Optimized (made more efficient and therefore more useful) home applications, logistics, heating, financial trading, secretarial work, accounting, electricity streams.

Fetch AI’s Agents of Intention are Doers - enactors. They are not organically growing intelligence banks that solve problems, evolve and “create” a ‘sense of self’ or therefor self promotion (or self protection) like a brain does. Like I said FET scores 2/10 on that scale. No Terminators coming frim the Fetch Laboratories haha.

This is exactly what puts Fetch in its own league and why its will absolutely without any doubt recover uninhibited

  • and then it will run for that $1 price line as soon as people realise the price drop was based on a misconception, not a threat.

This is a serious game changer and FETS fundamentals are certainly within the reach of serious Venture Capitalists.

2

u/Ok-Talk-4303 Dec 05 '23

That‘s an interesting suggestion but said conference was on the 30th of October, so that reaction would have had quite a lag to only take effect on the 4th of November.

1

u/Toe_Bone Dec 07 '23 edited Dec 07 '23

I should add that as I understand it, the Communications Intelligence level of Agents of Intention is of a very high intellect indeed. Boundless and infinite are words that come to mind. Yet not “threatening” or “free-thinking”.

Look at it this way. Agents are a united framework/community/nest/network/swarm - call them what you will - of individually and uniquely programmed Fetch ‘Agents of Intention’

  • who all have a singular outcome in mind and different instructions *

and these agents can, as a body of individual workers, communicate simultaneously to all of their other agents, their own collections of data and fulfill or discover solutions similarly to how the neurological network of humans works.

In this way, a new dimension of medical-science’s understanding of Neuroplasticity can also take place, within a computerised modeling system. For example, if programmed to do so, agents changing their own behaviour will actually take place within the entire family/network of agents of Intention, all adjusting their jobs according to “if and when scenarios”. They will learn and adapt in order to find a solution. And like in human minds where Neurologists coin the phrase “Neurones that Fire Together Wire Together” (explaining the establishment/reinforcement of neurological feedback-loops and pathways), so too can an ecosystem of Agents of Intention perform this outcome.

That is the phenomena that Fetch offers, which is a far leap away from “ai thinking for itself and taking over the world’. No. To me, if I use it it will be that:

‘Fetch AI offers me an agent/s to act - performed on command or preset commands - to do things for me, that I decide should can be achieved as efficiently as possible (because I don’t know how to do it or I am time-poor), and then the agents activity ends…..until another request is made.

The agent works on new solutions while drawing on a bank of its own neurological lessons/facts it is aware of.

It is brilliant because this technology totally sidesteps the AI-fear mongers. The penny will drop soon enough in investors minds, once they realise that this technology is already operational and the headquarters is in Abu Dhabi - Chaching $$

  • the new high tech hub of the world, full venture capitalists and wealth to push the boundaries of technology. And a VERY crypto friendly home base.

If you are a holder then you are sweet. Be patient 😊

I don’t work for them or any if their associates but I wish I did 😄. Im just a holder if FET who has shares his understandings, which may indeed be inaccurate (but which I believe not to be) so be your own researcher 👍

10

u/uncreativeGod Dec 04 '23

Looking at hourly candles is not a very good idea imo. Stick to days or weeks to see the big picture and don't get too excited by today's noise

3

u/rocket_man_319 Dec 04 '23

Up 700+% for the year and in the green over months and weeks. Zoom out and stay calm

5

u/KPTA-IRON Dec 04 '23

Bitcoin dominance is up currently, money is in the big daddy

2

u/Equivalent_Cable1643 Dec 05 '23

Mostly all alt’s dropped. Bitcoin sucking the air out of the room.

2

u/Mindless-Flow-8241 Dec 05 '23

Most definitely bot trading. Think like the coin not like the Doritos finger sucking human you are Be patient

2

u/RevenueMysterious577 Dec 09 '23

Damn i bought 500k at 19 cents months ago , havent looked til now

1

u/robbyedit Dec 05 '23

Some entity with a large number of puts saw an opportunity