Here's the argument I was hearing:
Humans can be turned into money pumps. Consequently, the most important point is to make sure that your AI can be turned into a money pump, since if you don't, it will automatically diverge from human values.
If this is what you are arguing, it would take a lot to convince me of that position.
Here's the argument I think you're making:
Don't make AIs try to optimize stuff without bound. If you try to optimize any fixed objective function without bound, you will end up sacrificing all else that you hold dear.
I agree that optimizing without bound seems likely to kill you. If a safe alternative approach is possible, I don't know what it would be. My guess would be most alternative approaches are equivalent to an optimization problem.
Right, the second argument is the one that concerns me, since it should be possible to convince people to adjust their preferences in some way that will make them consistent.
My suggestion here was simply to adopt a hard limit to the utility function. So for example instead of valuing lifespan without limit, there would be some value such that the AI is indifferent to extending it even more. This kind of AI might take the lifespan deal up to a certain point, but it would not keep taking it permanently, and in this way it would avoid driving its probability ...
Edge.org has recently been discussing "the myth of AI". Unfortunately, although Superintelligence is cited in the opening, most of the participants don't seem to have looked into Bostrom's arguments. (Luke has written a brief response to some of the misunderstandings Pinker and others exhibit.) The most interesting comment is Stuart Russell's, at the very bottom:
I'd quibble with a point or two, but this strikes me as an extraordinarily good introduction to the issue. I hope it gets reposted somewhere it can stand on its own.
Russell has previously written on this topic in Artificial Intelligence: A Modern Approach and the essays "The long-term future of AI," "Transcending complacency on superintelligent machines," and "An AI researcher enjoys watching his own execution." He's also been interviewed by GiveWell.