Bitcoin Forum

Well lately you may all heared about the new AI chat called chatgpt which is in beta version and for free now and It's so easy to use and access. So i wanted to ask some questions about bitcoin to it and see the answer, one of my curios questions is how bitcoin price drop to 0$ and this is the AI answer :


[It is theoretically possible for the price of bitcoin to drop to zero, but it is highly unlikely to happen. There are several reasons for this.

First, bitcoin has a fixed supply, which means that there is a limited amount of bitcoins that can be mined. This scarcity gives bitcoin value and makes it unlikely that the price will drop to zero.

Second, bitcoin has a decentralized network of users who are committed to the success of the currency. These users are motivated by a belief in the value of bitcoin and the underlying technology (blockchain) and are likely to continue using and holding bitcoin even if the price drops temporarily.

Finally, bitcoin has a strong track record of price stability over its 12+ year history, despite experiencing some significant price fluctuations. While it is always possible for the price of bitcoin to go down, it is unlikely that it would drop to zero. ]


Well i didn't get the scenarios of this thing to happen. So i had to ask about it again and i got this answer which was so detailed



[It is difficult to predict specific scenarios that could cause the price of bitcoin to drop to zero, as it would require a significant and unforeseen shift in market conditions or technology. However, there are a few hypothetical scenarios that could potentially lead to the collapse of the bitcoin market and a drop in the price of bitcoin to zero:

Loss of trust: If the bitcoin network were to suffer a major security breach or if there were a widespread loss of trust in the integrity of the network, the price of bitcoin could potentially drop to zero.

Government intervention: If governments around the world were to pass legislation that made it illegal to use or hold bitcoin, it could potentially lead to the collapse of the bitcoin market and a drop in the price to zero.

Technological obsolescence: If a superior cryptocurrency or technology were to emerge and gain widespread adoption, it could potentially lead to the decline of bitcoin and a drop in its price to zero.

It is important to note that these scenarios are highly speculative and it is difficult to predict how events might unfold. As with any investment, it is important to carefully consider the risks and conduct thorough research before investing in bitcoin or any other cryptocurrency.



I liked these answers given by the AI and i don't think there's much left to add about this subject of price dropping to 0 and the chances of this to happen are very low and very close to impossible

As far as I understand, ChatGPT is a language processing model developed by OpenAI. ChatGPT is not a good source for relevant opinions because it is a machine learning model and does not have personal experiences or beliefs. It can only generate text based on the patterns and information that have been programmed into it. While ChatGPT may be able to generate text that appears to express an opinion, it does not have the ability to form its own opinions or engage in critical thinking.

AI would still be AI and cant be something that would really be able to surpass human mind or brain when it comes to everything.Yes, it does have some advantage but it cant really be something

that would be far superior into its creator which is humans.There are lots of talkings and discussions about ChatGPt or into those AI about answering on something.

They dont really have that real time experience and knowing about fundamentals which only human beings could able to comprehend and able to make sudden
alteration of decisions.

Technically the AI forgot one important factor, which is that we're talking about the dollar here. The price could technically drop to 0 USD and it wouldn't mean that bitcoin is worthless. It could still be worth thousands of GBP, Rubles and so on.
If the US were to no longer allow the exchange to USD bitcoin would be worth 0 USD, because dollar is private. It doesn't belong to the people but to the government of the US and it decides its fate. If they go bankrupt - boom bitcoin goes to 0 USD, if the US gets blown up by nuclear missiles - bitcoin goes to 0 USD, if the dollar changes its name - bitcoin goes to 0 USD, if the USD trading stops - 0 USD, but it won't mean 0 USD is literal 0 (nothing).

It's worth adding that if trading is allowed and USD continues to exist it will be impossible for bitcoin to be at 0. Even if the majority of people decide to sell it wouldn't be trading at 0. You'd have to convince 99% of bitcoin owners to dump it to really get into cents. I just don't see it happening unless the encryption gets cracked and people start intercepting transactions and stealing coins. A security breach or the end of the world could be the only situations where this happens.

People think that AI is very powerful because it's artificial intelligence, and we know from movies like Terminator that computers can be smarter than us, but if AI was known under some less hyped name, like "neural network", people would be less inclined to immediately believe in everything that comes out of it.

So called "artificial intelligence" can't perform any sort of complex analysis of difficult subjects and do things like writing original essays, it can merely mimic existing human works.

first of all today Artificial Intelligence or some sort of machine out there is getting smarter day by day, the way he said can be true but its has very razor thin chances to be happen.

Including loss of trust or government interference since we all already know that there is country make bitcoin a legal and some country like my country start accept crypto as a commodity and government start to made a decision to tax it.


Yes this is a good theory and can be true, and remember guys the USD is based on trust too  :D

The analysis carried out by AI is the same as we thought before where if there is a big problem that occurs in bitcoin that causes many people to save their money by selling all bitcoins, it will make the price drop dramatically and the price can be zero.

In this case, we don't need AI to figure out what caused the bitcoin price to drop to zero. If no demand occurs in the market and everyone abandons bitcoin, that's when the price of bitcoin will free fall to its lowest price point.

Look to the Blue.

 :D :D :D :D

Dude,
none of those things are impossible, in fact they are all unfolding in front of your eyes.  :)

BTC is no deity , BTC PoW network is a DumpsterFire.

True, ChatGPT is only programmed based on the insights circulating on social media and only the basic knowledge that programmers put into ChatGPT, therefore the AI will not be able to produce results from the logic or feelings of the AI itself unless it is programmed in them.

I really believe Bitcoin will never become Zero despite losing trust and with the intervention of the cooperation of many countries of the world to ban bitcoin because basically many dead wallets contain Bitcoin in them and of course, Bitcoin maximalists will not let.

I think we don't need some AI to really see if bitcoin can drop to 0 or not.

I mean it has been in the market for more than 10 years and as much as the government wanted to bring it down, we haven't seen any success for them. Although we have even like the covid-19 2 years ago that tested us, but still it just goes down to $3k and then we bounce off again and hit all time high last year.

This so-called AI only provides information from the collected database, there is nothing sensational about it. If by any chance someone had adapted that database in such a way that it only gives malicious answers on the subject of Bitcoin, then the answers would be completely different and we wouldn't really like them.

All the scenarios that are explained in the OP are of course possible, without electricity and the Internet a lot of things would disappear and become worthless, Bitcoin is no exception.

The thing about AI is it does not think on its own.  It uses patterns to confirm, invalidate information and use it accordingly.  And the information it speaks, it is gathered, stored and processed from the Web.  You can see that in the way the AI writes.  It looks like quoted paragraphs from articles.

Some people may argue thought processes are made of patterns too, and we also speak information we gather and process from various sources of information.  Sure.  But still, AI does not THINK.  It has no consciousness.  It can be either very random or very specific.  But to me, no way is it an accurate predictor.  I have yet to see something surprising written by OpenAI that makes actual sense and has not been said before.

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Regards,
PrivacyG

The funny thing about this is why would you ask an AI? Yo! You can find similar answers in this forum with similar topics, such as can Bitcoin crash? Can Bitcoin be worthless? And much more. In fact, many members here as well as myself seem to have said the same thing about it.

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AI would be great for some jobs, but not for this thing.

It's not wrong, but it doesn't exactly bring out anything new as well imo. Afaik the AI that chatbots use is just a collection of information, compare it to like them having their own internal library and choosing answers based on it, paraphrasing it so that it sounds like it thinks on its own. Honestly just testing it by asking what the result between two teams' match is enough to show how it doesn't exactly have any capability to create its own answers. It just looks for the most general and possible answer available.

ChatGPT doesn't actually have is own opinion it relies on the answers collected from past questions in same or similar discussions to provide an answer. It outrightly doesn't need to be trusted for live opinion.
The ChatGPT sometimes outrightly tells that is own opinion might be wrong. As for this discussion it will easily get the answers since its a wide discussion even in the forum. But it opinion shouldn't be used as a benchmark for investments like bitcoin it Could well miss lead people to bad investment.

So what response do you expect?
Everyone's answer will be more to comment on the robot's performance, supporting if giving a pro answer or rejecting if it's a con. Sorry to be a bit harsh, but I don't really like talking about the future with robots.

sa far no government wanted to bring bitcoin down .If they did , the chances of it going to 0 are very high .

Many AI systems are designed to mimic human behavior, they can also be trained to perform tasks that are beyond the human abilities. For example, AI systems can be trained to analyze large amounts of data and identify patterns that would be difficult for a human to detect. However, the accuracy of the AI systems depends on the quality of data they are given to analyze. If the data is biased, then so will be the evaluation of that data by an AI system. The capabilities of AI systems depend on how they are designed and trained. I wouldn't even call them "artificial intelligence", because intelligence implies a degree of sentience, which is completely absent from machines. They are just algorithms designed to perform a specific task based on input data.

AI doesn't work to read the future but maybe he knows what happened today or yesterday, I just think it's human intelligence where the data used is from Google search data information or whatever is already on the internet and I used this yesterday but didn't get satisfactory answer even the AI says he can't provide any future information  ;D

Of course i already read and i myself participated in answering the same knd of questions. It's just logical in many cases how bitcoin can crash and it's very rare to happen. I only did ask the AI in the door of curiosity and simply the AI gave logical answers too. First i thought maybe it wouldn't even give an answer

My view of Al's intelligence is not in more than entry reading orders, Al's plot reading intelligence is based on multiple entries in the quest, he is not developed or designed to see into the future, but only read the keywords of each entry contained within.

The only possibility is the loss of bitcoin circulation because internet cases are starting to die all over the world, without internet access this might happen, but technological developments are growing, cases like this are almost impossible to happen.

For this problem, I think it has been refuted by the fact that El Salvador has accepted and adopted Bitcoin, so that the possibility that all countries will start enacting laws prohibiting Bitcoin does not meet the assumed criteria.

Hmm, These AI things are really taking over the world. AI bots, AI chats, Neuralink and God knows what else are we going to invent in this world? They are really taking over and I hate to break it but we are not really in the good position to digests these things. They could actually change the course of thinking we have. AI can manipulate us to extreme levels and just like OP, AI is giving different answers every time. Which means there will be mind games in the future and if peeps started to relying on it then dam we are done man. It could go in wrong direction soon.

The AI made some great pointers which is to be expected, but then again the disclaimer of it being speculative just goes to show that these scenarios are very unlikely to happen, with the exception of obsolescence as technology expontially improves every single year, it could be possible that in the not-so-distant future we encounter a crypto that we will love more than bitcoin because of how beneficial it is, profitable, or other factors. But until that day comes, bitcoin remains the top 1 cryptocurrency and that will stay the same for a projected long-ass  time. We can never forget how helpful bitcoin has been and how impactful it was for a number of us.

I did play around with this a bit.   It clearly has built in bias guidelines and will even tell you that it probably has bias.  It doesn't seem able to answer questions on things like what is an inappropriate question and how does it determine this.  So it has guidelines that it can't access until the question is asked. 

I successfully managed to ask it many questions of which it cannot answer.  But Google still can so this is not a Google killer yet. 

But,.  Unlike Google the chat GPT informs me that it is capable of running on a beefy PC.  Independent of Google servers.  Which take up a warehouse or two.  So this might be an almost functional personal assistant unlike the Alexa Google and Bixby.  Which are fairly useless. 

It also tells me that it's data is cut off for anything later than 2021.  And I asked it how would I go about updating it and it starts getting evasive again.   

So I see real potential here I also think that the version that we can play around with is seriously neutered.

I think it's learning and the more questions people ask it the better it will become at answering. It's like that AI developed to play starcraft and it became so good that it managed to beat pro players, but it also suffered from all the typical AI issues like prioritizing some action like defense over offense and knowing it gave the players an edge in some situations.

When it comes to bitcoin going to 0 it answers pretty good. You can see it's trying to be balanced like not saying that it will or will not happen but giving "its own" opinion.

I think it will never happen although there's a very small chance that it could because the price isn't bitcoin's value. If you do a coordinated dump of a million bitcoins all at once you could crash the price to extreme lows even below 1 USD but it wouldn't be the real value like when bitcoin crashed to 3000 in 2020 it wasn't the real value.

AI were just basically mimicking the human works or what the creators put in their data they were just like human. So it could be everything what the AI was saying could be wrong but it does make sense though since everything what it told was just a possibility that Bitcoin would drop to 0. It's like predicting the worst case scenario but won't actually happen unless that worst case scenario do come true.

We have AI nowadays that can operate or help people from their daily lives such as "Alexa" or the Google drive but most of them aren't 100% correct so you will have to depend on your judgement too.

That AI is currently in learning mode. It cannot predict things; it only uses the information it got thus far and constructs sentences based on it and on the question that was asked. Imagine asking a child about how the world ends. This kid watched a lot of doomsday movies, read a lot of fear-mongering article, and a lot of information in-between. What do you think will that kid answer you? Based on facts or based on what he/she knows so far?

It's a great way to pass time, but obviously not a great way to predict the future.

Based on my observations, many people think of AI as a seer/fortune-teller. They ask for something that doesn't even matter, when they feel connected to that answer, they start to cult it, haha.
But never mind if its only caused by curiosity whether AI can answer your question, not because you want to know if Bitcoin can drop to $0.

These answers do not appear to be artificial intelligence answers, but rather answers that the tool has been programmed to give because it dives into a justification narrative, not like the answers that you get from artificial intelligence that tries to learn from different sources.
In general, what is the new thing that artificial intelligence will add to such a question? Is this question still valid?

The result you may get from the AI prediction totally depends on the data you give the AI processors, so even if you consider every single scenario still there is a chance to say none of is exact and the price will never reach the price 0 price level. because many people think this is a scenario we can see after the whole bitcoins are mined but even after that day the price won't drop even temporarily as you said.

I have heard of ChatGPT in one of the Youtube videos and did wanted to try it. It's a good to see how AI has been used here.
But one thing to note is that it will only portray things which are programmed into it. It doesn't have a sense of it's own.
Which is why we should believe on what the AI chat has to say. While it can be a fun experiment at eventually it will process information what is fed to it.

Don't we already have a superior cryptocurrency available in the market? Which are faster and cheaper than bitcoin and also more anonymous than bitcoin. Did bitcoin lose its importance? No!

Bitcoin enjoys the perks of being the pioneering cryptocurrency. Millions of miners around the world have set up their mining rigs to mine bitcoin and secure the bitcoin network. So it's highly unlikely for bitcoin price to come down to zero for this reason. but anyway, I understand this is what an AI bot wrote, and AI can't match human intelligence in any way. Nothing to be take seriously here!

The possibilities of modern artificial intelligence are amazing.  It is very interesting to be in the Future! 

However, I would not consider the chatgpt neural network as a modern oracle or a legendary sphinx that can answer any question.  Such networks are trained and trained not on the ideas of wise seers, but on the ideas of the most ordinary inhabitants. 

Accordingly, chatgpt's predictive capabilities are limited. 

I would ask this neural network questions about the parallel interaction of CBDC and Bitcoin.  I wonder what she will answer us?!

First of all thanks for sharing this - it was quite entertaining to read.
To my suprise, the answer given by this AI is actually what I would excpect from an individual with years of in-depth experience in cryptocurrency and specifically Bitcoin that still keeps an open mind. Very nice, positively suprising.

Pay attention to the responses; they're objectively correct. The AI doesn't have an opinion. If you notice it, the answers are given with political and objective correctness.

Well, it surely have been fed with articles, but the final result is just brilliant, because it doesn't leave much room for questioning. It also doesn't have access to the internet, and that's its data is limited to 2021.

Well i agree for the answers given to my question were a bit similar to what you can find in any source of internet. I don't really understand exactly how this AI works but I'm sure it's more than what just given to it. This AI could generate many things and more informations that aren't available anywhere in internet. I used it for my studies in university for some informations that you can't even find any article about it but this AI could give me good answers
You can generate strories with the details that you provide. So the least you can call it is something smart.
Back to my question i asked was just about what can provoke that scenario to happen and not if possible and i find the answers are correct at least

It would be best if the AI can have access to internet and can filter out the right from the wrong information.  The AI stated on the OP is a mimic of an encyclopedia where information is accessible by asking question (act like a search function) and I suppose the answer will be fixed with no variation at all.  So I wonder what is the difference between this AI from encyclopedia e-books?

This AI answered your question with a bunch of information gathered from the world wide web. What else were you expecting? ;D
There is an AI image generating tool on Discord(I forgot it's name) that simply gathers phots and images from the web and combines them in different ways. The results are interesting, but the AI still isn't capable of doing creative stuff and producing original thoughts(and images).
I wouldn't say that this is true Artificial Intelligence. It's more like a superfast search engine, that gathers and analyses information from the internet(all the databases that are available). I know that having intelligence is that same as gathering and analyzing information, but there must be something more to it.

Do you mean Midjourney (https://midjourney.com/)?

Yes, AI cannot replace the existence of human creativity (for now). They are simply created to give a choice for inspiration. I was checking at the AI (in a free version) for article creators, music makers and images, and I found that they are still not as smart as expected. They just collect information and combine it (modification) into a new form. In my opinion, it's just like imitating. And for the record, some of them still have bad results.

It does do that, it just doesn't have Internet connection. But for incidents, events and news before 2021, it's accurate and has been taught to filter texts properly.

The difference is that it gives you a summary throughout all these hundreds of encyclopedias, in a filtered, quick and human manner.

I’ve tried to find out how the training data for the model behind Chat GPT, which is not easy to find in detail. The closest I’ve managed to come-across is the description provided here (https://gist.github.com/veekaybee/6f8885e9906aa9c5408ebe5c7e870698#training-data).

https://user-images.githubusercontent.com/3837836/206871628-b2a1e151-4585-40cb-aaae-742e1088d442.png
It’s better to follow the links provided by the content author is one really wants to get a broarder idea of what’s behind the summarized table (i.e. Book1 is Bookcorpus, which includes over 11k books; Common Crawl (https://en.wikipedia.org/wiki/Common_Crawl) is a non-profit organization that provided petabytes of scraped data that goes as far back as 2011, and so forth).

Note:
Interesting/non-interesting surprise: Checkout the names of the founders (https://en.wikipedia.org/wiki/OpenAI) of Open AI back in 2015.
Clue: Twitter’s current (for now) CEO

Good description. Machine learning is more fascinating than I thought. I had come across a similar bot in the past, but it didn't serve the user in that manner. I took a look into ChatGPT a week ago, and I'm just astonished. It's nearly perfect in copywriting, impressively helpful in coding (you can tell it to code, and make it explain you what each line does), and good enough for essays, literature, scripting etc.

As always, genius in both innovation and entrepreneurship.