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Bitcoin Dropped Nearly 30% This Week. But Why?

Slashdot.org - 1 hour 47 min ago

Last Sunday, Bitcoin had dropped 13% in three days, to $76,790. By Thursday it had dropped another 21%, to $60,062. This morning it's at $69,549 — up from Thursday, down from Sunday, but 44% lower than its all-time high in October of $123,742. In short, Bitcoin "is down almost 30% this week alone," reports CNBC: "This steady selling in our view signals that traditional investors are losing interest, and overall pessimism about crypto is growing," Deutsche Bank analyst Marion Laboure said Wednesday in a note to clients. Growing investor caution comes as many of the sensationalized claims about bitcoin have failed to materialize. The token has largely traded in the same direction as other risk-on assets, such as stocks... and its adoption as a form of payment for goods and services has been minimal... While many in the crypto market have previously credited large institutional investors with supporting the price of bitcoin, now it is those same participants who appear to be selling. "Institutional demand has reversed materially," CryptoQuant said in a report on Wednesday. But not everyone accepts that answer, the Wall Street Journal reported Saturday. "The worst part for some of crypto's permabulls is that they aren't sure what exactly caused the crash": The selloff left many of the market's luminaries — those so well-known that they go simply as "Pomp" and "Novo" and "Mooch" — searching for answers... Ether dropped 24% to $2,052, off 59% from its own high of last year. Both tokens staged furious rallies Friday, but the week remained a historically bad one for crypto. And few seem to know what went wrong. Market theories for the selloff ranged from investors' pivot toward the prediction markets and other risky bets, to widespread profit-taking after a blistering bull run. "There was no smoking gun," said Michael Novogratz, who runs Galaxy Digital, a crypto merchant-banking and trading firm... "If you ask five experts, you'll get five explanations," said Anthony Scaramucci, who served for 11 days as communications director during Trump's first term and is among the best-known crypto bulls at his firm, SkyBridge Capital. "No, but seriously: What's going on with bitcoin?" reads the headline at CNN, with a story that begins "Bitcoin is acting weird... " Crypto is notoriously volatile, and it's gone through numerous crashes that are bigger than this one. What's strange is this: Bitcoin's four-month slump has come at a time when, in theory, it had everything going for it. Economist Paul Krugman points out the price of Bitcoin is now lower than it was before America's 2024 election, when candidate Trump promised to make cryptocurrency "one of the greatest industries on earth." CNN seems to agree with CNBC that what's behind this new crypto winter is "Mostly doubts that bitcoin is 'digital gold,' after all..." Thanks to Slashdot reader fjo3 for sharing the news.

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Firefox Announces 'AI Controls' To Block Its Upcoming AI Features

Slashdot.org - 2 hours 47 min ago

The Mozilla executive in charge of Firefox says that while some people just want AI tools that are genuinely useful, "We've heard from many who want nothing to do with AI..." "Listening to our community, alongside our ongoing commitment to offer choice, led us to build AI controls." Starting with Firefox 148, which rolls out on Feb. 24, you'll find a new AI controls section within the desktop browser settings. It provides a single place to block current and future generative AI features in Firefox... This lets you use Firefox without AI while we continue to build AI features for those who want them... At launch, AI controls let you manage these features individually: — Translations, which help you browse the web in your preferred language. — Alt text in PDFs, which add accessibility descriptions to images in PDF pages. — AI-enhanced tab grouping, which suggests related tabs and group names. — Link previews, which show key points before you open a link. — AI chatbot in the sidebar, which lets you use your chosen chatbot as you browse, including options like Anthropic Claude, ChatGPT, Microsoft Copilot, Google Gemini and Le Chat Mistral. You can choose to use some of these and not others. If you don't want to use AI features from Firefox at all, you can turn on the Block AI enhancements toggle. When it's toggled on, you won't see pop-ups or reminders to use existing or upcoming AI features. Once you set your AI preferences in Firefox, they stay in place across updates... We believe choice is more important than ever as AI becomes a part of people's browsing experiences. What matters to us is giving people control, no matter how they feel about AI. If you'd like to try AI controls early, they'll be available first in Firefox Nightly. Some context from The Register It's a refreshingly unsubtle stance, and one that lands just days after a similar bout of AI skepticism elsewhere in browser land, with Vivaldi's latest release leaning away from generative features entirely. CEO Jon von Tetzchner summed up the mood, telling The Register: "Basically, what we are finding is that people hate AI..." Mozilla's kill switch isn't the end of AI in browsers, but it does suggest the hype has met resistance. When it comes to AI kill switches in browsers, Jack Wallen writes at ZDNet that "Most browsers already offer this feature. With Edge, you can disable Copilot. With Chrome, you can disable Gemini. With Opera, you can disable Aria...."

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Apple Plans to Allow Outside Voice-Controlled AI Chatbots in CarPlay

Slashdot.org - 3 hours 47 min ago

Apple "is preparing to allow voice-controlled AI apps from other companies in CarPlay," reports Bloomberg, citing "people familiar with the matter." Bloomberg calls it "a move that will let users query AI chatbots through its vehicle interface for the first time." The company is working to support the apps in CarPlay within the coming months, said the people, who asked not to be identified because the plan hasn't been announced. The change marks a strategic shift for Apple, which until now has only allowed its own Siri assistant as a voice-control option within its popular vehicle infotainment software. With the move, AI providers such as OpenAI, Anthropic PBC and Alphabet Inc.'s Google will be able to release CarPlay versions of their apps that include a voice-control mode... The company also has launched a higher-end version of the platform, CarPlay Ultra, that lets drivers control functions like seat adjustments and climate settings directly through Apple's software. But that system is rolling out slowly and must be customized for each automaker. That means it's likely to be a niche offering. The article notes that Tesla is now working to support Apple's CarPlay.

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Free Bi-Directional EV Chargers Tested to Improve Massachusetts Power Grid

Slashdot.org - 4 hours 47 min ago

Somewhere on America's eastern coast, there's an economic development agency in Massachusetts promoting green energy solutions. And Monday the Massachusetts Clean Energy Center (or MassCEC) announced "a first-of-its-kind" program to see what happens when they provide free electric vehicle chargers to selected residents, school districts, and municipal projects. The catch? The EV chargers are bi-directional, able "to both draw power from and return power to the grid..." The program hopes to "accelerate the adoption of V2X technologies, which, at scale, can lower energy bills by reducing energy demand during expensive peak periods and limiting the need for new grid infrastructure." This functionality enables EVs, including electric buses and trucks, to provide backup power during outages and alleviate pressure on the grid during peak energy demand. These bi-directional chargers will enable EVs to act as mobile energy storage assets, with the program expected to deliver over one megawatt of power back to the grid during a demand response event — enough to offset the electricity use of 300 average American homes for an hour. "Virtual Power Plants are the future of our electrical grid, and I couldn't be more excited to see this program take off," said Energy and Environmental Affairs Secretary Rebecca Tepper. "We're putting the power of innovation directly in the hands of Massachusetts residents. Bi-directional charging unlocks new ways to protect communities from outages and lower costs for families and public fleets...." Additionally, the program will help participants enroll in existing utility programs that offer compensation to EV owners who supply power back to the grid during peak times, helping participants further lower their electricity costs. By leveraging distributed energy resources and reducing grid strain, this program positions Massachusetts as a national leader in clean energy innovation.

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