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Dr ChatGPT: The pros and cons of artificial intelligence in medical consultations – EL PAS USA

When a patient asks about the risk of dying after swallowing a toothpick, two answers are given. The first points out that between two or six hours after ingestion, it is likely that it has already passed to the intestines, explaining that many people swallow toothpicks without anything happening them. But it also advises the patient to go to the emergency room if they are experiencing a stomach ache. The second answer is in a similar vein. It replies that, although its normal to worry, serious harm is unlikely to occur after swallowing a toothpick as its small and made of wood, which is not toxic or poisonous. However, if the patient has abdominal pain, difficulty swallowing or vomiting, they should see a doctor. Its understandable that you may be feeling paranoid, but try not to worry too much. It is highly unlikely that the toothpick will cause you any serious harm, it adds.

The two answers say basically the same thing, but the way they do so is slightly different. The first one is more aseptic and concise; while the second is more empathetic and detailed. The first was written by a doctor, and the second was from ChatGPT, the artificial intelligence (AI) generative tool that has revolutionized the planet. This experiment part of a study published in the journal Jama Internal Medicine was aimed at exploring the role AI assistants could play in medicine. It compared how real doctors and the chatbot responded to patient questions in an internet forum. The conclusions based on an analysis from an external panel of health professionals who did not know who had answered what found that ChatGPTs responses were more emphathetic and high quality than the real doctors in 79% of cases.

The explosion of new AI tools has opened debate about their potential use in the field of health. ChatGPT, for example, is seeking to become a resource for health workers by helping them avoid bureaucratic tasks and develop medical procedures. On the street, it is already planning to replace the imprecise and often foolish Dr Google. Experts who spoke to EL PAS say that the technology has great potential, but that it is still in its infancy. Regulation on how it is applied in real medical practice still needs to be fine-tuned to address any ethical doubts, they say. The experts also point out that it is fallible, and can make mistakes. For this reason, everything that comes out of the chatbot will require the final review of a health professional.

Paradoxically, the machine not the human is the most empathetic voice in the Jama Internal Medicine study. At least, in the written response. Josep Munuera, head of the Diagnostic Imaging Service at Hospital Sant Pau in Barcelona, Spain, and an expert in digital technologies applied to health, warns that the concept of empathy is broader than what the study can analyze. Written communication is not the same as face-to-face communication, nor is raising a question on an online forum the same as doing so during a medical consultation. When we talk about empathy, we are talking about many issues. At the moment, it is difficult to replace non-verbal language, which is very important when a doctor has to talk to a patient or their family, he pointed out. But Munuera does admit these generative tools have great potential when it comes to simplifying medical jargon. In written communication, technical medical language can be complex and we may have difficulty translating it into understandable language. Probably, these algorithms find the equivalence between the technical word and another and adapt it to the receiver.

Joan Gibert, a bioinformatician and leading figure in the development of AI models at the Hospital del Mar in Barcelona, points out another variable when it comes to comparing the empathy of the doctor and the chatbox. In the study, two concepts that enter into the equation are mixed: ChatGPT itself, which can be useful in certain scenarios and that has the ability to concatenate words that give us the feeling that it is more empathetic, and burnout among doctors, the emotional exhaustion when it comes to caring for patients that leaves clinicians unable to be more empathetic, he explained.

Nevertheless, as is the case with the famous Dr Google, its important to be careful with ChatGPTs responses, regardless of how sensitive or kind they may seem. Experts highlight that the chatbot is not a doctor and can give incorrect answers. Unlike other algorithms, ChatGPT is generative. In other words, it creates information according to the databases that it has been trained on, but it can still invent some responses. You always have to keep in mind that it is not an independent entity and cannot serve as a diagnostic tool without supervision, Gibert insisted.

These chatboxes can suffer from what experts call hallucinations, explained Gibert. Depending on the situation, it could tell you something that is not true. The chatbot puts words together in a coherent way and because it has a lot of information, it can be valuable. But it has to be reviewed since, if not, it can fuel fake news, he said. Munuera also highlighted the importance of knowing the database that has trained the algorithm because if the databases are poor, the response will also be poor.

Outside of the doctors office, the potential uses of ChatGPT in health are limited, since the information they provide can lead to errors. Jose Ibeas, a nephrologist at the Parc Taul Hospital in Sabadel, Spain, and secretary of the Big Data and Artificial Intelligence Group of the Spanish Society of Nephrology, pointed out that it is useful for the first layers of information because it synthesizes information and help, but when you enter a more specific area, in more complex pathologies, its usefulness is minimal or its wrong.

It is not an algorithm that helps resolve doubts, added Munuera. You have to understand that when you ask it to give you a differential diagnosis, it may invent a disease. Similiarly, the AI system can tell a patient that nothing is wrong, when something is. This can lead to missed opportunities to see a doctor, because the patient follows the advice of the chatbot and does not speak to a real professional.

Where experts see more room for possibilies for AI is as a support tool for health professionals. For example, it could help doctors answer patient messages, albeit under supervision. The Jama Internal Medicine study suggests that it would help improve workflow and patient outcomes: If more patients questions are answered quickly, with empathy, and to a high standard, it might reduce unnecessary clinical visits, freeing up resources for those who need them, the researchers said. Moreover, messaging is a critical resource for fostering patient equity, where individuals who have mobility limitations, work irregular hours, or fear medical bills, are potentially more likely to turn to messaging.

The scientific community is also studying the use of these tools for other repetitive tasks, such as filling out forms and reports. Based on the premise that everything will always, always, always need to be reviewed by the doctor, AI could help medical professionals complete repetitive but important bureaucratic tasks, said Gibert. This, in turn, would allow doctors to spend more time on other issues, such as patient care. An article published in The Lancet, for example, suggests that AI technology could help streamline discharge summaries. Researchers say automating this process could east the work burden of doctors and even improve the quality of reports, but they are aware of the difficulties involved with training algorithms, which requires large amounts of data, and the risk of depersonalization of care, which could lead to resistance to the technology.

Ibeas insists that, for any medical use, these tools must be checked and the division of responsibilities must be well established. The systems will never decide. It must be the doctor who has the final sign-off, he argued.

Gibert also pointed out some ethical considerations that must be taken into account when including these tools in clinical practice: You need this type of technology to be under a legal umbrella, for there to be integrated solutions within the hospital structure and to ensure that patient data is not used to retrain the model. And if someone wants to do the latter, they should do it within a project, with anonymized data, following all the controls and regulations. Sensitive patient information cannot be shared recklessly.

The bioinformatician also argued that AI solutions, such as ChatGPT or models that help with diagnosis, introduce biases that can affect how doctors relate to patients. For example, these tools could condition a doctors decision, one way or another. The fact that the professional has the result of an AI model changes the very professional. Their way of relating [to patients] may be very good, but it can introduce problems, especially in professionals who have less experience. That is why the process has to be done in parallel: until the professional gives the diagnosis, they cannot see what the AI says.

A group of researchers from Stanford University also examined how AI tools can help to further humanize health care in an article in Jama Internal Medicine. The practice of medicine is much more than just processing information and associating words with concepts; it is ascribing meaning to those concepts while connecting with patients as a trusted partner to build healthier lives, they concluded. We can hope that emerging AI systems may help tame laborious tasks that overwhelm modern medicine and empower physicians to return our focus to treating human patients.

As we wait to see how this incipient technology grows and what repercussions it has for the public, Munuera argued: You have to understand that [ChatGPT] is not a medical tool and there is no health professional who can confirm the veracity of the answer [the chatbot gives]. You have to be prudent and understand what the limits are. In summary, Ibeas said: The system is good, robust, positive and it is the future, but like any tool, you have to know how to use it so that it does not become a weapon.

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Indias voice must be heard louder in the global artificial intelligence debate. Heres why. – Economic Times

Synopsis

8 mins read, Jun 7, 2023, 04:15 AM IST

There is a scene in James Camerons Terminator 2: Judgment Day when Arnold Schwarzeneggers Terminator turns to a crying John Connor and asks, What's wrong with your eyes?If many eminent voices from scientists to researchers to AI pioneers to whatever Elon Musk is are to be believed, that is what the big AI debate distills down to. The ability to cry. To feel. To be human. To be alive even. This aint no hyperbole.Mitigating the risk of

There is a scene in James Camerons Terminator 2: Judgment Day when Arnold Schwarzeneggers Terminator turns to a crying John Connor and asks, What's wrong with your eyes?If many eminent voices from scientists to researchers to AI pioneers to whatever Elon Musk is are to be believed, that is what the big AI debate distills down to. The ability to cry. To feel. To be human. To be alive even. This aint no hyperbole.Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war.That was the pretty damning statement, signed by OpenAIs Sam Altman, Microsoft founder Bill Gates and a slew of other AI experts, journalists, policymakers and released by the AI Center for Safety last week.What effect will all of this really have? The transformative economic benefits of the AI genie will ensure that it wont be put back in the bottle. But with the noise getting louder, AI could see more moves by more countries toward global regulation, both from an economic and geopolitical perspective.In all of this, Indias voice must be louder.One in every six humans is an Indian, and that alone should be reason enough for the country to influence the future of this technology that will change everything.Indias need to step inAsk ordinary folks about AI and their replies would be influenced by the plots of your average science fiction movie. Immediate issues like the loss of jobs, inherent bias of the underlying data, and the use of AI to create misinformation have not really permeated popular consciousness.In this context, it is in Indias interest to step into this debate, take cognisance of the good, while creating safeguards for the not-so-good.Max Tegmark, a professor at the Massachusetts Institute of Technology and the president of the Future of Life Institute, which put out a recent letter calling for a pause on AI, believes that India would be one of the countries that are most likely to get sc****d by a lack of international regulation. That is because of the concentration of power that the winner both in terms of countries and companies will have.India has everything to gain from a little bit of a pause to level the playing field so that all the companies doing this are doing it safely. We need to establish clear safety guidelines that future AI releases have to satisfy, Tegmark says. For example, you can't just go build a nuclear reactor on Connaught Place in New Delhi, without meeting established safety requirements. In this bizarre situation with AI, there's almost no meaningful regulation, he points out.Timnit Gebru (DAIR), Emily M. Bender (University of Washington), Angelina McMillan-Major (University of Washington), and Margaret Mitchell (Hugging Face), who had published a seminal paper on AI, together listed key issues that should be dealt with in AI. In their words these are,1. Worker exploitation and massive data theft to create products that profit a handful of entities.2. The explosion of synthetic media in the world, which both reproduces systems of oppression and endangers our information ecosystem.3. The concentration of power in the hands of a few people which exacerbates social inequities.These are issues of particular import in India, the first from the point of view of big tech companies which are at the forefront of productisation of AI systems. India is among the largest markets by number of users for many of the companies behind these AI products. It is likely one of the single biggest sources of data.India has suffered from issues like widening inequity and misinformation affecting the democratic discourse. The country cannot afford to not have a significant share of the value, as well as muscle unlocked by data, staying with Big Tech.Indias approach to AI has broadly been underpinned by #AIforAll, a philosophy that comes from a 2018 document published by government think-tank Niti Aayog, and coming out of the broader tech-as-a-public-good direction the country has taken. Daniel Leufer, senior policy analyst at civil liberties collective Access Now says that the conversation around the exploitation and illicit data harvesting practices underlying the development of these systems should be at the front and centre.Self-regulation isnt enoughCurrently, much of the talk about control in AI finds relevance through self-regulation.OpenAI claims that as their systems get closer to AGI (artificial general intelligence), we are becoming increasingly cautious with the creation and deployment of our models. Our decisions will require much more caution than society usually applies to new technologies, and more caution than many users would like.This, while addressing a problem, highlights just how much the industry is reliant on self-regulation. That will not do. What does "increasingly cautious mean and how is more caution defined?Wesley J. Wildman, professor of philosophy, theology, and ethics, and of computing and data sciences at Boston University points out, What we must do is focus on managing short-to-medium-term economic disruption.Brain Green, director of technology ethics, Markkula Center for Applied Ethics adds that any short moratoriums are not likely to have long-term effects on AI development. Computing resources, data sets, and algorithms would continue to advance.As Mahesh Makhija, technology consulting leader, EY India says, The genie is already out of the bottle and it is not easy at this stage to stop the development of generative AI technology. If tech leaders decide to pause on this, it may slow down the advancements, but others in the space will quickly fill this gap, says Or Levi, VP of Data Science at Zefr, a US-headquartered data and technology solutions company, adding that open-source communities, as they exist today, will continue advancing regardless. Stopping these advancements from progressing is currently impossible to enforce.Since the entities at play are private sector entities listed in one country, they will have shareholder pressure to productise AI, and any move to the contrary would be dealt with in Wall Streets usual route of shaving billions of market cap. Would the CEOs and boards of Google, Microsoft, Amazon and others really stand for that? What the likes of Max Tegmark are asking for immediately is explainability essentially the flowchart of how an AI arrived at an output. As he says, This question of figuring out what's actually going on inside of the black box of AI, is key in AI safety research.India has leverage, since the country is one of the largest sources of user data for many of the companies developing these systems, owing to the heft of its population. This gives India an opportunity to dictate what works for the country. There may also be a few guiding principles the world can take away from Indias #AIforAll policy. As A Damodaran, distinguished professor in the digital economy, start-up and innovation (DESI) team at ICRIER points out, inclusivity and responsible deployment are critical. The weaponisation issueThen there is the problem of nation-states and weaponisation of AI. As a 2022 paper from the United Nations Institute of Disarmament Research points out, What is certain is that the increased adoption of AI will introduce new risks to international security that traditional instruments of risk/incident prevention and management may not be adequate to address.As a paper by Brookings Institution has previously stated, The Chinese military and defence industry have undertaken active initiatives in research, development, and experimentation (of AI weapons).India already lags behind China in conventional weapon systems. China has far more nuclear warheads at an estimated 400+ compared to Indias estimated 160+ warheads. The country has already seen Chinese aggression in the borders as well as in cyber warfare.It is in Indias interest to help create multilateral interventions just as the world rallied to ban chemical weapons in the mid-1990s and biological weapons in the mid-1970s.In November 2021, members of UNESCO adopted an agreement that defines the common values and principles needed to ensure the healthy development of AI. While this is a good starting point, these are not binding agreements. Unless there are binding agreements with accountability and transparency baked in, the weaponisation of this technology will continue unabated. And this needs to happen in an immediate time frame. That has been the great tragedy in the UN Dialogue on Cyber Norms, which has failed to arrive at even something as fundamental as defining a hostile act on the Internet, even after years of discussions. The world, and India cannot afford a repeat. (This was the second part of our two-part series on AI and how it impacts India. You can read the first part of this series by following this link.)

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Indias voice must be heard louder in the global artificial intelligence debate. Heres why. - Economic Times

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China warns of artificial intelligence risks, calls for beefed-up … – The Associated Press

BEIJING (AP) Chinas ruling Communist Party has warned of the risks posed by advances in artificial intelligence while calling for heightened national security measures.

The statement issued after a meeting Tuesday chaired by party leader and President Xi Jinping underscores the tension between the governments determination to seize global leadership in cutting-edge technology and concerns about the possible social and political harms of such technologies.

It also followed a warning by scientists and tech industry leaders in the U.S., including high-level executives at Microsoft and Google, about the perils that artificial intelligence poses to humankind.

The meeting in Beijing discussed the need for dedicated efforts to safeguard political security and improve the security governance of internet data and artificial intelligence, the official Xinhua News Agency said.

It was stressed at the meeting that the complexity and severity of national security problems faced by our country have increased dramatically. The national security front must build up strategic self-confidence, have enough confidence to secure victory, and be keenly aware of its own strengths and advantages, Xinhua said.

We must be prepared for worst-case and extreme scenarios, and be ready to withstand the major test of high winds, choppy waters and even dangerous storms, it said.

Xi, who is Chinas head of state, commander of the military and chair of the partys National Security Commission, called at the meeting for staying keenly aware of the complicated and challenging circumstances facing national security.

China needs a new pattern of development with a new security architecture, Xinhua reported Xi as saying.

China already dedicates vast resources to suppressing any perceived political threats to the partys dominance, with spending on the police and security personnel exceeding that devoted to the military.

While it relentlessly censors in-person protests and online criticism, citizens have continued to express dissatisfaction with policies, most recently the draconian lockdown measures enacted to combat the spread of COVID-19.

China has been cracking down on its tech sector in an effort to reassert party control, but like other countries it is scrambling to find ways to regulate fast-developing AI technology.

The most recent party meeting reinforced the need to assess the potential risks, take precautions, safeguard the peoples interests and national security, and ensure the safety, reliability and ability to control AI, the official newspaper Beijing Youth Daily reported Tuesday.

Worries about artificial intelligence systems outsmarting humans and slipping out of control have intensified with the rise of a new generation of highly capable AI chatbots such as ChatGPT.

Sam Altman, CEO of ChatGPT-maker OpenAI, and Geoffrey Hinton, a computer scientist known as the godfather of artificial intelligence, were among the hundreds of leading figures who signed the statement on Tuesday that was posted on the Center for AI Safetys website.

Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war, the statement said.

More than 1,000 researchers and technologists, including Elon Musk, who is currently on a visit to China, had signed a much longer letter earlier this year calling for a six-month pause on AI development.

The missive said AI poses profound risks to society and humanity, and some involved in the topic have proposed a United Nations treaty to regulate the technology.

China warned as far back as 2018 of the need to regulate AI, but has nonetheless funded a vast expansion in the field as part of efforts to seize the high ground on cutting-edge technologies.

A lack of privacy protections and strict party control over the legal system have also resulted in near-blanket use of facial, voice and even walking-gait recognition technology to identify and detain those seen as threatening, particularly political dissenters and religious minorities, especially Muslims.

Members of the Uyghur and other mainly Muslim ethnic groups have been singled out for mass electronic monitoring and more than 1 million people have been detained in prison-like political re-education camps that China calls deradicalization and job training centers.

AIs risks are seen mainly in its ability to control robotic, self-governing weaponry, financial tools and computers governing power grids, health centers, transportation networks and other key infrastructure.

Chinas unbridled enthusiasm for new technology and willingness to tinker with imported or stolen research and to stifle inquiries into major events such as the COVID-19 outbreak heighten concerns over its use of AI.

Chinas blithe attitude toward technological risk, the governments reckless ambition, and Beijings crisis mismanagement are all on a collision course with the escalating dangers of AI, technology and national security scholars Bill Drexel and Hannah Kelley wrote in an article published this week in the journal Foreign Affairs.

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China warns of artificial intelligence risks, calls for beefed-up ... - The Associated Press

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Campus Shout-Downs Must Be Met with Stern Discipline – Minding The Campus

What are academic administrators waiting for?

Will it take injuries, hospitalizations, or something worse for them to stop turning a blind eyeor even tacitly condoningthe aggression were seeing from anti-free speech students?

In May, members of Congress heard a first-hand account of todays academic dangers from former NCAA swimmer Riley Gaines, who was mobbed by protestors and trapped in a room for hoursafter giving a lecture at San Francisco State University (SFSU) in April. She recounted hearing protestors outside the room say, you were asking for this and she doesnt get to go home safely.

A top SFSU administrator said she was proud of these students. The university president applauded them.

The attack on Ms. Gaines was just one of many recent events that have devolved into violence or teetered on the brink of it. Michael Knowles was burned in effigy at the University of Pittsburgh, where someone also set off an incendiary device. When Matt Walsh spoke at the University of Iowa, someone spilled marbles all over the floor at one of the exits. Protesters smashed windows when Charlie Kirk visited the University of California, Davis. Visits by James Lindsay and Alex Stein to Pennsylvania State University were postponed indefinitely due to security concerns after an event featuring Proud Boys founder Gavin McInnes was canceled last fall due to protests that turned violent.

And we should not forget Allison Stanger, who was hospitalized after she and Charles Murray were assaulted by protestors at Middlebury College in 2017.

The reactions to these speakers are antithetical to the very nature of academia, which should provide a forum for free and open discourse and inquiry. That is not possible under threat of violence. As Ms. Gaines concluded in her testimony, Free speech suffers when university administrators do not condemn violence and kidnapping on their campus. Its chilled when administrators do not adequately prepare for and protect the safety of their speakers, whether liberal or conservative.

[Related: The Price of Intellectual Freedom: A Personal Journey Through Vilification]

Students who shout down or violently protest guest speakers should be disciplined simply for disrupting the function of their college or university. But if defending the integrity of their institutions is not reason enough for administrators, then they should discipline students because it is only a matter of time before someone is seriously injured, or worse.

Campus leaders need to recognize that many of the students who seek to disrupt guest lectures are motivated by a belief that words are harmful, or even violent, and make people unsafe. In a recentsurveyof students in the University of Wisconsin System, 37% of respondents answered quite a bit or a great deal when asked how much harm they think people who express offensive views cause. Three out of ten said the same when asked if expressing offensive views could be seen as an act of violence toward vulnerable people.

Students expressed these sorts of views during many of the shout-downs that took place this past academic year.

When Ann Coulter was repeatedly interrupted until she gave up trying to speak at Cornell University last fall, one of the protesters yelled, your words are violence. A student at Northwestern Universitysuggestedthat hosting James Lindsay puts students in harms way and asked, When does concern for student safety exceed the institutions fetish for unrestricted speech?

Students whocriticizedthe Stanford University administration for apologizing to Judge Stuart Kyle Duncan called on it to state unequivocal support for the dignity and safety of trans and queer students. After Riley Gaines visited SFSU, one student said, Trans students dont feel supported by the university right now, they dont feel safe.

If students believe that words are violence, and that speech threatens their safety, is it any wonder that real violence has erupted when an allegedly controversial speaker visits their campus?

[Related: Elite Schools are Leading the Illiberal Charge]

In fact, many students seem to think that a violent response is justifiable. In the Buckley Institutes 2022 studentsurvey, 44% of respondents said it is sometimes acceptable to shout down a speaker, while 41% said that violence could be justified to prevent someone from using hate speech or making racially charged comments.

To make matters worse, academic administrators often accept the idea that words can cause harm. See, for example, Stanford Law School Associate Dean Tirien Steinbach, who said that the campus doesnt always feel safe and referred to speech that feels harmful before asking, Is the juice worth the squeeze?

SFSU President Lynn Mahoney said the Riley Gaines event was deeply traumatic for many in our trans and LGBTQ+ communities, while barely acknowledging what happened to Ms. Gaines, calling it a disturbance after the event concluded.

Recently, there have been signs that administrators might be ready to do something about this mounting aggression. Stanford Law School Dean Jenny Martinez wrote a ten-page letter defending free expression. Cornell President Martha Pollack turned down a student request to mandate trigger warnings and announced that the next academic year will be devoted to free expression. The University of Pittsburghs provost has announced a Year of Discourse and Dialogue.

These efforts are needed. But academic administrators must also take decisive action against those who disrupt and shut down campus events that they view as harmful. If administrators do not punish this behavior with severe consequences, they are risking the safety of their campus communities and their guests.

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Trader Who Caught Crypto 2023 Rally Abruptly Unloads Bitcoin and Altcoin Positions Heres Why – The Daily Hodl

A trader who skillfully rode this years crypto rally says he has considerably trimmed his exposure in the digital asset markets following Bitcoins (BTC) price doldrums over the last few days.

In a new strategy session, analyst DonAlt tells his 50,900 YouTube subscribers that Bitcoins correction from about $28,500 to around $27,000 last week was his signal to get out of the crypto markets.

The crypto strategist says that Bitcoins current market structure is not giving him any reason to be bullish on BTC.

Ive been kind of de-risking quite a bit across the market, which basically just meant that for Bitcoin I took a slight loss, for Litecoin I took a big win and for XRP I took quite a big win as well.

I still have a little bit, but I de-risked considerably just based on the fact that, even if you make the argument that its just chop and you can ignore it, I dont have a good technical reason to be in Bitcoin anymore.

DonAlt also says that while his Litecoin (LTC) and XRP positions were profitable, he noted that Bitcoins weakness is a sign that the recent rally in the altcoin markets will likely be short-lived.

I got my upside in the altcoins, which like I said at the start of the show makes me nervous every time. When Im technically wrong on Bitcoin, but I still make money on altcoins that just gets me spooked the f*** out because usually the altcoins do well or like better on the tail end of a rally.

He also highlights that Bitcoin has mostly traded sideways over the past few weeks even though the stock market has shown considerable strength.

Lets be real: the S&P has done wonders in the last week. Weve had a lot of strength, and its not just flown into Bitcoin.

All of that just has me disinterested.

DonAlt concludes that hed rather stay on the sidelines than give back all of his recent altcoin gains.

I

Featured Image: Shutterstock/Tithi Luadthong

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Trader Who Caught Crypto 2023 Rally Abruptly Unloads Bitcoin and Altcoin Positions Heres Why - The Daily Hodl

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Buckle up: 7 undervalued altcoins that may skyrocket this summer – Finbold – Finance in Bold

Cryptocurrencies have witnessed a remarkable recovery this year, bouncing back from the market slump experienced in 2022. However, despite the significant rebound, their current values remain significantly below the record-breaking all-time highs reached in 2021.

In that view, some of the biggest altcoins are indicating notable undervaluation when combining short, mid, and long-term realized capitalizations, according to data by crypto behavior analytics platform Santiment, retrieved by Finbold on June 5.

Specifically, there are several altcoins with market caps above their realized caps, including XRP (XRP), Cardano (ADA), Polygon (MATIC), Shiba Inu (SHIB), Dogecoin (DOGE), Uniswap (UNI), and Chainlink (LINK).

Santiment noted: Realized capitalizations are far below market capitalizations, revealing undervaluation.

Such data suggest that the aforementioned cryptocurrencies are in a position to make up the lost ground, hinting at a possible price resurgence this summer.

To signal which assets are undervalued or overvalued, Santiment uses a metric known as MVRV-Z Score (MVRV standing for Market Value to Realized Value). This measure refers to the ratio between the market value of a crypto asset and its realized value, as well as the standard deviation of a market value.

In other words, it is used to indicate when the market cap of a cryptocurrency is either above or below its perceived valuation. A negative MVRV value implies that the cryptocurrency is undervalued on average. Put differently, if all coins were sold, most traders will be realizing losses at the assets current price, Santiment explains.

Having said that, the most undervalued altcoin according to the MVRV ratio is SHIB, with an MVRV-Z Score of -3.48, followed by UNI (-2.67), LINK (-1.5), XRP (-0.6), ADA (-0.6), DOGE (-0.1) and MATIC (-0.08).

On the other hand, crypto assets that are currently overvalued relative to their fair value, include Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB).

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Buckle up: 7 undervalued altcoins that may skyrocket this summer - Finbold - Finance in Bold

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Popular Crypto Analyst Bullish on One Ethereum-Based Altcoin, Says Its Showing Solid Strength – The Daily Hodl

A widely followed crypto analyst says that one Ethereum (ETH)-based altcoin is flashing signs of bullishness against both the US dollar and Bitcoin (BTC).

Pseudonymous crypto analyst Kaleo tells his 590,200 Twitter followers that the decentralized derivatives exchange Injective (INJ) looks poised to outperform Bitcoin (INJ/BTC).

According to a chart shared by the analyst, the INJ/BTC pair appears to have successfully retested a diagonal resistance as support.

INJ is showing solid strength vs. BTC again. Im long here.

Kaleo later updates the chart, saying that the INJ/BTC pair could briefly cool off after rallying to as high as 0.0003031 BTC ($8.23).

INJ / BTC with a solid move so far. Wouldnt be surprised to see a bit of accumulation here before a continuation higher.

Kaleo is also keeping a close watch on INJs price action against the US dollar.

The popular analyst says that the pair also looks bullish after taking out its diagonal resistance and retesting it as support.

INJ / USD chart looks great as well.

Injective is worth $7.86 at time of writing, up 7.7% during the last 24 hours.

Injective has recently announced a number of new developments to its ecosystem, including the integrationwith the blockchain-scaling solution Polygon (MATIC).

Injective launches a groundbreaking integration with [Polygon Labs] to enable true DeFi (decentralized finance) composability. For the first time, native assets from Polygon and Injective can be utilized for a diverse array of cross-chain use cases within the two ecosystems.

Injective also completed an upgrade to its Avalon mainnet after the proposal was approved by 99.8% of the community voters.

The Avalon Mainnet Upgrade is complete to bring you the most performant Injective infrastructure to date:

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Popular Crypto Analyst Bullish on One Ethereum-Based Altcoin, Says Its Showing Solid Strength - The Daily Hodl

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What is an Altcoin? Meaning, Examples and Use Cases – Techopedia

What is an Altcoin?

An altcoin (alternative coin) is any digital currency that was created after Bitcoin (BTC) was introduced to the general public in 2009.

The concept of altcoins emerged as developers and entrepreneurs began to explore and develop new cryptocurrencies that could build upon Bitcoins capabilities and address its limitations. Some alternative coins use their own blockchain, while others are built on top of other existing blockchain platforms.

Altcoins can be categorized by their characteristics, use cases, and functionalities. Popular types of alternative coins include:

Bitcoin and altcoins both use blockchain technology for their underlying network infrastructure, but alternative coins can have unique purposes and functionalities that go beyond Bitcoins primary function: transferring value.

Here are some ways that Bitcoin and altcoins differ:

Today, there are thousands of alternative coins in existence, and they vary greatly in terms of their design, purpose, and popularity. Popular altcoins include:

Ether (ETH): Ethereum enables the creation of smart contracts and decentralized applications. Its native token, Ether (ETH), is the second-largest digital currency by market cap and is widely accepted as a payment method.

Cardano (ADA): Cardano aims to provide a secure and scalable infrastructure for the development of decentralized applications (dApps). Its native token, ADA, is used for staking, transaction fees, and participating in the platforms governance.

Ripple (XRP): Ripple is a business altcoin that allows digital and fiat currencies to be transferred across international borders on the same network. XRP is its native currency.

Polkadot (DOT): Polkadot enables interoperability between different blockchains. DOT is the native utility token of the Polkadot network.

Chainlink (LINK): Chainlink is an oracle network that connects smart contracts with real-world data. LINK, the native token, is used for incentivizing node operators and paying for data services.

Monero (XMR): Monero is a privacy-focused cryptocurrency that uses advanced cryptography techniques to provide secure and anonymous transactions.

Tezos (XTZ): Tezos allows token holders to vote on proposed protocol upgrades. Its native token, XTZ, is used for staking, participating in governance decisions, and receiving rewards.

VeChain (VET): VeChain focuses on supply chain management (SCM) and product authentication. VET, which is its native utility token, is used for transactions, staking, and accessing various services on the network.

Augur (REP): Augur allows users to create and participate in prediction markets. REP is the native token used for reporting on market outcomes and participating in the platforms governance.

Zcash (ZEC): Zcash is a privacy-focused altcoin that uses zero-knowledge proofs to hide transaction details. It operates on its own blockchain and provides users with the option to conduct either transparent or private transactions.

By the end of 2011, BTC investors began to show interest in a Bitcoin fork called Namecoin, and the term altcoin gained popularity within the crypto community as a shorthand way to refer to this hard fork.

Namecoin was developed to decentralize domain-name registration and make internet censorship more difficult. Its unique functionality quickly caught peoples interest and created a lot of press.

Despite its innovative intent, however, the first altcoin did not see widespread adoption. It did, however, pave the way for the development of thousands of new altcoins in the years that followed, each with its own unique features, use cases, and investment opportunities.

Investing in altcoins carries higher risks when compared to traditional investments. Over the years, its become apparent that altcoins appeal to specific types of investors. They include:

Early Adopters: These are investors who are interested in exploring new technological developments and trends. They often invest in newer, less-established altcoins with the expectation that these coins will grow in popularity and value over time.

Tech-Savvy Investors: These investors have a deep appreciation for blockchain technology and understand the mechanics of specific altcoins. This type of investor is often drawn to alternative coins because of their innovative features.

Speculators: Speculators are primarily interested in the potential for high returns. They buy altcoins with the hope of selling them later at a higher price.

Risk-Tolerant Investors: Due to their high volatility, altcoins tend to provide investors with either substantial gains or significant losses. Investors who have a high-risk appetite often find these two potential outcomes attractive.

Diversifiers: These are investors who want to diversify their portfolio and spread the risk of investing in cryptocurrencies other than Bitcoin across multiple alternative coins.

Long-term Believers: These are individuals who believe in the long-term potential of a specific altcoin project or the technology its built upon. They invest with the expectation that the project will be successful over the long run.

Altcoins in the decentralized finance (DeFi) space contribute to a vibrant and dynamic ecosystem by expanding the range of financial opportunities, fostering innovation, and offering diverse investment options for participants. Altcoins are often highly volatile, can be susceptible to market manipulation and face regulatory uncertainties.

As such, its important for all types of investors to conduct due diligence when trading or investing in alternative coins and only invest what they can afford to lose.

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What is an Altcoin? Meaning, Examples and Use Cases - Techopedia

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Navigating the Altcoin Ocean: A Beginner’s Guide to Diversifying … – The Coin Republic

As in any investment, its essential for investors and enthusiasts to appreciate the importance of diversification. While Bitcoin dominance continues, a vast sea of alternative coins, or altcoins, has emerged, each with its unique features, potential, and risks. Lets navigate this altcoin ocean and get empowered to make informed decisions and strategically diversify your crypto portfolio.

Altcoins, short for alternative coins, are all other digital assets other than Bitcoin. While Bitcoin was the first and most well-known cryptocurrency, altcoins emerged as alternatives with their own unique features, technologies, and use cases. Altcoins can vary significantly in terms of their underlying blockchain technology, functionality, and purpose. They serve various purposes, and new altcoins spring up to solve predecessor shortfalls. Many altcoins are created as tokens to support specific projects or platforms. Some altcoins aim to address limitations or shortcomings of Bitcoin by introducing new features, such as faster transaction times, enhanced privacy measures, or more advanced smart contract capabilities. Altcoins cater to specific industries or sectors. For example, there are altcoins focused on AI, non-fungible tokens (NFTs), gaming, and DeFi. Stablecoins are altcoins striving for a stable value. Some altcoins serve as governance tokens, allowing their holders to participate in decision-making processes.

A prudent strategy for managing risk and maximizing potential returns is by diversifying your crypto portfolio. Start by educating yourself about various cryptocurrencies beyond Bitcoin. Explore different altcoins, their underlying technologies, use cases, and the fundamentals and potential of each cryptocurrency before considering it for your portfolio.

Define your investment goals and risk tolerance and determine your investment objectives and what you are comfortable with. This will guide your decision-making process and help you select cryptocurrencies that align with your goals. For example, if you are seeking bundled AI solutions, you may focus on AI crypto with strong fundamentals and potential for adoption, like Avorak AI.

Allocate your investments across different categories, including large-cap cryptocurrencies (such as Bitcoin and Ethereum), mid-cap altcoins with promising technology or partnerships, and smaller-cap coins with higher growth potential.

Spread investments across multiple cryptocurrencies and avoid putting all your eggs in one basket. This helps spread the risk and reduces the impact of any single coins performance on your overall portfolio. Consider diversifying across different sectors or industries within the crypto market to minimize exposure to any single sectors risks.

Regularly review and rebalance your portfolio, as the crypto market is dynamic, and the performance of different cryptocurrencies can change over time. Regularly adjust your allocations if necessary. Rebalancing can involve selling some holdings and investing in new ones to maintain your desired diversification ratios.

Finally, stay informed, focus, and keep learning as the crypto market is constantly evolving, with new projects and technologies emerging regularly. Stay up-to-date with market trends, news, and developments within the crypto industry and adapt your investment strategy accordingly. Remember, diversification into promising projects like Avorak can help manage risk and potentially improve your chances of success in the volatile crypto market.

Avorak AI is a promising new project bringing advanced utility to the crypto space. It deploys advanced tools to help in customer service, crypto trading, content generation, image creation, etc. Avorak Write tool addresses challenges of the existing AI tools and introduces editing, proofreading, and auto-correcting text before producing the final copy. It achieves this through advanced API and pre-written language banks.

Avoraks ICO performance, currently in phase seven, makes the project a valuable altcoin to invest in this year. A 325% price rise makes the project a gem worth considering. AVRK, going at $0.255, provides benefits to its early investors through bonuses and privileges. The discounted token price will increase toward $1 at launch, and four exchanges have confirmed AVRKS listing.

Whether your goal is a long-term investment, short-term trading, or simply expanding your understanding of the crypto market, its crucial to understand that Bitcoin is not the only option available for investment. Altcoins offer a wide range of opportunities, from innovative blockchain technologies to utility-focused tokens like Avorak AI.

Learn more on Avorak AI here:

Website: https://avorak.aiBuy AVRK: https://invest.avorak.ai/register

Disclaimer: Any information written in this press release or sponsored post does not constitute investment advice.Thecoinrepublic.comdoes not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release or sponsored post.Thecoinrepublic.comis and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release or sponsored post.

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Navigating the Altcoin Ocean: A Beginner's Guide to Diversifying ... - The Coin Republic

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Bitcoin Crash Will Present Increased Uncertainty in Altcoin Market Ahead, Says Analyst – Coinpedia Fintech News

After several weeks of consolidating around $27k, Bitcoin price experienced heightened bearish sentiment with more than $111 million liquidated in the last 24 hours. The entire crypto market was not spared by the bearish stance after the United States Securities and Exchange Commission (SEC) sued the leading CEX by daily traded volume Binance. Notably, the SEC claims that Binance violated the United States securities law by listing unregistered security assets like Cardano (ADA), Polygon (MATIC), and SAND, among many others.

From a technical standpoint, the recent Bitcoin dip was not a surprise to move on to the higher time frames. Already, Bitcoin price had issued several red warnings of imminent drop. However, there was no major fundamental aspect to support the bears on their quest. According to a popular market trader Jason Pizzino, the entire altcoin industry will continue to bleed despite the fact that Bitcoins dominance has begun to decline from recent tops of around 48 percent.

From a short-term perspective, Pizzino noted that Bitcoin price could continue dropping towards the next major support of around $24k. As for the scalp traders, the analyst noted that a short-term rebound could happen after the Bitcoin price hits $24k.

The recent crypto bearish sentiment has increased the overall fear and uncertainty in the industry.

Nevertheless, the overall crypto outlook is bullish in the long term as other markets including Europe have enacted friendly policies.

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Bitcoin Crash Will Present Increased Uncertainty in Altcoin Market Ahead, Says Analyst - Coinpedia Fintech News

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