Weirdo's Weekly Update — 11 Aug, 2023

Crypto News

PayPal Launches $PYUSD Stablecoin

PayPal has introduced a new stablecoin, $PYUSD. Here's what you need to know:

  • $PYUSD is issued by Paxos, not PayPal
  • Users must agree to Paxos' terms, not PayPal's.
  • PayPal might cease $PYUSD support without notice.
  • With PayPal, you don't own individual crypto tokens; you hold their monetary value.
  • PayPal sets transaction limits and can halt your crypto services at their discretion.
  • Using PayPal's crypto services means sacrificing some control and ownership.

Remember: Not your Keys, not your Crypto. 

Binance Granted Licenses in El Salvador

El Salvador has granted two licenses to the crypto exchange Binance, making it the first fully licensed exchange in the country. This highlights El Salvador's crypto-friendly approach, as it was the first country to recognize Bitcoin as legal tender in 2021.

crypto calendar

Changes in the Last Week

Bitcoin: $29,143 (-0.2%) I Ethereum: $1,859 (-0.1%) I Gold: $1,948

AI News

Europe's AI Challenge, New ChatGPT Upgrades, and OpenAI's GPTBot

In the world of AI, Europe is falling behind the US. The US leads the AI game with more startups and funding than Europe. This could spell real trouble for Europe in the tech sector, especially AI.

Venture Capital Investment in AI
Source: Preqin

Companies operating within the European Union (EU) must adhere to stringent AI model regulations. Interestingly, none of the well-known American foundational models, such as GPT or LLaMA, meet the criteria outlined in the EU AI Act. 

There are few prominent European companies active in the AI sector. For instance, Aleph Alpha, a German startup, is developing a competitor to ChatGPT. Meanwhile, Mistral AI, located in Paris, has secured $113 million in funding for its 31-word website. Quite impressive.

Updates from ChatGPT

ChatGPT has introduced several upgrades based on user feedback, showing no signs of slowing down:

  1. Provide prompt examples to help users get started.
  2. Offer suggested replies to continue conversations more effortlessly.
  3. Make GPT-4 the default model when starting a new chat.
  4. Allow users to upload multiple files and analyze data across them.
  5. Introduce new keyboard shortcuts.
  6. Improved login experience.

OpenAI Launches GPTBot

OpenAI has launched GPTBot, a web crawler designed to scrape data from the internet to improve future AI models. However, this raises legal and ethical concerns regarding using scraped web data, copyright infringement, and model degradation.

Other AI News this week:

Travel Tips

As you read this newsletter, we're probably already enjoying the sun and sipping our first beer in Bildein, Austria. While everyone's excited about big festivals like Frequency, Glastonbury, and Lollapalooza, our favorite yearly event is PictureOn.

PictureOn happens in the cozy town of Bildein, not far from the Hungarian border. It feels like a close-knit family gathering, and many people helping at the festival are volunteers.

What's neat is that the festival is small, so you get a local vibe. It's right by the Pinka River, perfect for cooling off if it gets hot or you're dealing with a festival hangover.

The music lineup usually has a few bands you might know, but most are lesser-known rock groups, mainly from Austria. Every year, we discover great music that sticks with us long after the festival.

If you're ever looking for a smaller, local festival to check out, we recommend PictureOn. Maybe we'll even see you there! 😊

By the way, what's your favorite festival? Let us know by hitting the reply button if you have any cool suggestions!

I am currently listening

ALL-IN Podcast with Chamath, Jason, Sacks & Friedberg: E140: LK-99, Sclerotic establishment, Fitch downgrades US debt, Trump indicted …


Best of Future Weekly (German): #146 Peter Steinberger über Bootstrapping, Pyramidenspiele & Gründer Exits

I am currently watching

The Brian Dean Method by AuthorityHacker

Tool of the week


Your online safety is essential, so a reliable VPN is necessary. A VPN connection creates a secure connection between you and the internet. With that, all your data is routed through an encrypted tunnel, making the location invisible to everyone. This protects you from attacks and safeguards the information you use and send through different apps. 

We are using NordVPN, and we highly recommend it for its strong security features, global server network that helps us to access geo-restricted content and connection speed.

Inspiring Quotes

“Don’t trust words, trust actions.”


"I have not failed. I've just found 10,000 ways that won't work."—Thomas A. Edison

Productivity Tips and Tricks

How to swap bad habits with good ones?

To swap out bad habits for good ones, you can start by understanding what makes you do the bad stuff - like when you're stressed or bored. Once you know the trigger, pick a positive habit you want to do instead. Start small with little changes, so it's not too hard. Connect the new habit to something you already do regularly, like using a reminder. Keep making the new habit regularly, and give yourself a treat when you succeed!

Let's discuss the example - you're in the habit of watching too much TV at night and want to read more instead. You set a clear goal of reading for 15 minutes before bed. You start by placing your book next to the TV remote (the reminder) so you see the book when you reach for the remote out of habit. Even though it might be hard at first, you keep reading for those 15 minutes each night. As a reward, treat yourself. Some nights, you might forget and turn on the TV, but over time, you become more mindful of your choice and can redirect yourself to reading. As you progress, increase your reading time to 30 minutes.

Remember, change happens gradually, and it's all about progress, not perfection.

Our Content of the Week

We are back into creating videos. You can follow us here on Youtube or Tiktok.

September 11, 2023
Leo Brunnhofer