Coinbase Executive Leverages ChatGPT For Crypto Forecasts

An executive at Coinbase, Conor Grogan

claims to have found a new use for the artificial intelligence tool ChatGPT. 

The tool, developed by OpenAI, has the ability to calculate the probability of unusual cryptocurrency price scenarios. According to ChatGPT, there is a 15% chance that Bitcoin could become irrelevant and see its prices fall by more than 99.99% by 2035. Ethereum has a 20% chance of becoming irrelevant and approaching near-zero price levels by 2035, while Litecoin and Dogecoin have probabilities of 35% and 45%, respectively, of going to near-zero.

Conor Grogan tested ChatGPT's abilities by asking it to assign probabilities to various political predictions involving leaders like Vladimir Putin, Joe Biden, and Donald Trump. Other predictions were related to the impact of AI on humanity, religion, and the existence of aliens. Grogan fed a script to ChatGPT to build the tables, which he tested over 100 times and found to be consistent with standard deviations of less than 10% in most cases.

The executive also demonstrated ChatGPT's ability to spot security vulnerabilities in Ethereum smart contracts and provide an outline to exploit faulty contracts. The latest version of the AI tool, GPT-4, known as ChatGPT, has demonstrated impressive capabilities, including achieving scores in the 90th percentile in high school and law school exams.

Although Grogan is generally a big fan of Bitcoin, ChatGPT is more skeptical about altcoins. In a recent tweet, Grogan stated that ChatGPT is "generally" a big fan of Bitcoin but remains "more skeptical" about altcoins.

Can ChatGPT Accurately Predict Cryptocurrency Trends? 

While ChatGPT has proved to be a useful tool for cryptocurrency price predictions, it has also raised privacy concerns. Italian regulators temporarily banned the tool after concerns were raised, but after a month-long ban, Italy lifted the ban on ChatGPT. However, the accuracy of its predictions is not guaranteed and should be taken with caution.

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