Coinbase executive Conor Grogan recently took to Twitter to share a breakthrough he claims to have made regarding artificial intelligence tool ChatGPT. Alleging that he has discovered a “jailbreak” for the AI, Grogan stated that the AI could now calculate the probability of various cryptocurrency price scenarios. While this may be a humorous revelation, it also raises concerns about misuse of AI and potential market manipulation.
In his tweets, Grogan revealed that ChatGPT calculated a 15% chance of Bitcoin (BTC) becoming irrelevant by 2035, with prices falling over 99.99%. The AI tool also estimated a 20% chance of Ethereum (ETH) becoming irrelevant, with Litecoin (LTC) and Dogecoin (DOGE) facing 35% and 45% chances respectively.
Despite this, Grogan claimed that ChatGPT is “generally a big fan” of Bitcoin but remains “more skeptical” when it comes to altcoins.
Before sharing the crypto-related predictions, Grogan had tested the AI with queries regarding political predictions involving Russian President Vladimir Putin, U.S. President Joe Biden, and former U.S. President Donald Trump. Additionally, he asked the AI about the impact of artificial intelligence on humanity, religion, and the existence of aliens. To a query about government cover-ups of aliens visiting Earth, ChatGPT assigned a 10% probability.
One could argue that this light-hearted exploration of ChatGPT’s predicting capabilities showcases the potential future of AI and its integration into the cryptocurrency market. However, there are a few critical elements to consider.
Firstly, the accuracy and reliability of ChatGPT’s predictions remain questionable. Artificial intelligence is highly advanced but still has limitations when it comes to precise and accurate predictions. Generating probabilities based on existing data could lead to misinformation and potential market manipulation.
Secondly, testing the AI using political predictions can be seen as risky, as it might encourage a culture of relying too much on AI predictions rather than human analysis and interpretation of events. With the rapidly evolving and unpredictable nature of the political landscape, AI predictions remain highly speculative.
Lastly, though Grogan’s experimentation with the AI tool has garnered attention, it is crucial to remember that AI technologies must be deployed with caution and responsibility. Using AI to predict prices could lead to harmful consequences if the predictions turn out to be incorrect or fuel widespread skepticism.
In summary, while Grogan’s exploits of ChatGPT create a fascinating spectacle, it is crucial for the crypto community to remember that the use of AI in predicting prices should be taken with a pinch of salt. Relying solely on AI predictions could have negative consequences, and a balanced approach, involving human analysis alongside technology, remains the best route forward.