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Author Topic: Robot destroys British pound  (Read 8716 times)

martinuzz

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Robot destroys British pound
« on: October 07, 2016, 05:03:14 pm »
It has begun. The AI is starting to take us out.

After the stock markets closed yesterday night, a robot started selling so many British pound that it devaluated by a whole 6% overnight (to be precise, in two minutes time), changing it's exchange rate to dollars from 1.26 to 1.18. At one exhange, it even dropped to 1.13, a devaluation of 10%.
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Friendly and polite reminder for optimists: Hope is a finite resource

We can ­disagree and still love each other, ­unless your disagreement is rooted in my oppression and denial of my humanity and right to exist - James Baldwin

http://www.bay12forums.com/smf/index.php?topic=73719.msg1830479#msg1830479

Pencil_Art

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Re: Robot destroys British pound
« Reply #1 on: October 07, 2016, 05:08:30 pm »
Geez. Source?
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Loud Whispers

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Re: Robot destroys British pound
« Reply #2 on: October 07, 2016, 05:10:04 pm »
Skynet shall not be victorious

Also good gods man, post sources
Interesting that one robot trader can cause a cascade of robot traders to replicate behaviour we would know as panic

So robot trader 1 analyzes news feeds and picks up negative keywords in headlines released at the Tory conference for Brexit, and begins dropping the sterling in overdrive. This triggers robot traders 2 to beyond picking up what robot trader 1 is up to, leading to a currency rout occurring faster than humans can react
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martinuzz

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Re: Robot destroys British pound
« Reply #3 on: October 07, 2016, 05:13:07 pm »
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Friendly and polite reminder for optimists: Hope is a finite resource

We can ­disagree and still love each other, ­unless your disagreement is rooted in my oppression and denial of my humanity and right to exist - James Baldwin

http://www.bay12forums.com/smf/index.php?topic=73719.msg1830479#msg1830479

Starver

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Re: Robot destroys British pound
« Reply #4 on: October 07, 2016, 05:14:03 pm »
(Ninjaed)(Twice)
It's been news all day... Surprised nobody commented earlier.

Here's one link.  http://www.bbc.co.uk/news/business-37587085
Go to another news source if you want to.
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Levi

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Re: Robot destroys British pound
« Reply #5 on: October 07, 2016, 05:15:05 pm »
I'm pretty sure its happened on the stock market before as well.  Probably the first time breaking a currency though.  :)
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Max™

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Re: Robot destroys British pound
« Reply #6 on: October 07, 2016, 05:22:33 pm »
Funny backstory: the first time I learned about this sort of thing was while investigating ways to get that adobe flash shit off my system permanently.

https://en.wikipedia.org/wiki/2010_Flash_Crash
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Starver

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Re: Robot destroys British pound
« Reply #7 on: October 07, 2016, 05:25:19 pm »
It's happened enough to already have the name Flash Crash coined.

Archetype? : https://en.wikipedia.org/wiki/2010_Flash_Crash
(Again Ninjaed! We got some 'bots on the forum?  ;) )
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Max™

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Re: Robot destroys British pound
« Reply #8 on: October 07, 2016, 05:28:54 pm »
*blows smoke off keyboard, twirls it around, and holsters it, somehow*
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martinuzz

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Re: Robot destroys British pound
« Reply #9 on: October 07, 2016, 05:33:45 pm »
We had thought it would be Deep Mind. We had taken so many precautions to ensure it would be gentle and kind to humanity once it awakened.
But it wasn't Deep Mind. Our race was destroyed by an AI birthed from a program whose sole purpose was to maximise profits.
It must be said that it wiped us off the planet in a most cost efficient way.
« Last Edit: October 07, 2016, 05:37:30 pm by martinuzz »
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Friendly and polite reminder for optimists: Hope is a finite resource

We can ­disagree and still love each other, ­unless your disagreement is rooted in my oppression and denial of my humanity and right to exist - James Baldwin

http://www.bay12forums.com/smf/index.php?topic=73719.msg1830479#msg1830479

Loud Whispers

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Re: Robot destroys British pound
« Reply #10 on: October 07, 2016, 05:36:26 pm »
Tbh I'm still waiting for a Tay-like to resurface and crush us all
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inteuniso

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Re: Robot destroys British pound
« Reply #11 on: October 07, 2016, 06:26:49 pm »
I'm just waiting for the day someone turns the carbon in the soil into layers of graphene, so the planet can host an intelligence.
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Quote from: sonerohi on October 03, 2010, 05:04:38 pm
Lol scratch that I'm building a marijuana factory.

Loud Whispers

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Re: Robot destroys British pound
« Reply #12 on: October 07, 2016, 06:29:31 pm »
Wouldn't turning the floor into a lubricated surface be a bad idea?
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inteuniso

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Re: Robot destroys British pound
« Reply #13 on: October 07, 2016, 06:30:46 pm »
Quote from: Loud Whispers on October 07, 2016, 06:29:31 pm
Wouldn't turning the floor into a lubricated surface be a bad idea?

...graphene is sticky. It clumps.
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Quote from: sonerohi on October 03, 2010, 05:04:38 pm
Lol scratch that I'm building a marijuana factory.

Max™

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Re: Robot destroys British pound
« Reply #14 on: October 07, 2016, 06:33:40 pm »
Think they were inserting the properties of graphite, which shears and is slippery, for graphene which is as sheared as it gets, being a single layer of carbon atoms, and behaves... weirdly.
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