The Rise of GPT AI. Crypto is at risk?

[karmamiu]

Over the recent years, technology has improved leaps and bounds, and one notable development is the rise of GPT AI, an artificial intelligence that allows machine to interact with humans in a more natural and conversational way. We cannot ignore the fact that it lessens the amount of work needed in some areas in our economy and society, thanks to the advancements of machine learning, natural language processing and deep learning, as a result GPT AI has become a powerful tool for businesses. Although we could say it gives us benefit, we can't still be so sure with the risks involved that maybe can outweighed or may potentially ruin the economy.

"GPT AI has also been used to develop trading bots that can automatically execute trades based on pre-programmed rules and conditions. These bots can monitor the market 24/7 and make trades based on real-time data, which can lead to more profitable trades and reduced risk."

Based on that statement alone, we can conclude that there will be potential risks such as trading bots that could manipulate the market which could lead to significant losses.





How about you, what are your thoughts regarding this one?

[davis196]

AI technology is still far from perfection. Just look at the newly launched Bing search engine by Microsoft and OpenAI. The AI bot is making mistakes. I know that there's a lot of room for improvement, when in comes to AI, but it's kinda early to expect the crypto industry to get destroyed by AI bots.
Crypto trading bots exist way before AI was a thing. Did the cryptocurrency market collapse because of the trading bots? Nope.
It's theoretically possible for multiple trading bots to manipulate the cryptocurrency prices, but the costs of implementing such price manipulation would be pretty high. It's way easier to spread FUD on the social media and cause panic selling.

[jackg]

Trading bots get good with small liquditiy. If too many people are looking at the same thing they'll become like those signals chats or any indicator/support you thought was good until it wasn't.

If there's a chatgpt bot that's trading, the better bot will be trading based on what it expects the chatgpt trading bot to do (if there's enough liquidity following the bigger bot, the predictor one will make huge gains against it). You're not going to be offered anything for free without expecting to be the service or the product.

[avikz]

Trading bots is not a new concept but with AI support and machine learning, it might get better with time. But how crypto will be at risk if an AI bot is able to create a good trading bot which can execute trades with better perfection?

Market manipulation is also a very old concept and exists even before the AI became reality. So AI needs to go a long way before it can actually manipulate the market with fake orders. A risk is always there but should that stop innovation?

[karmamiu]

AI technology is still far from perfection. Just look at the newly launched Bing search engine by Microsoft and OpenAI. The AI bot is making mistakes. I know that there's a lot of room for improvement, when in comes to AI, but it's kinda early to expect the crypto industry to get destroyed by AI bots.
Crypto trading bots exist way before AI was a thing. Did the cryptocurrency market collapse because of the trading bots? Nope.
It's theoretically possible for multiple trading bots to manipulate the cryptocurrency prices, but the costs of implementing such price manipulation would be pretty high. It's way easier to spread FUD on the social media and cause panic selling.

Precisely. That's a good point out there and its also true that it's much easier to spread rumors than pay to use bots for manipulation. It's always effective on causing massive panic when you're using the most conventional way which is through FUD. I'm not saying this for bad purposes but mostly this happens a lot before and based from that it was effective although it's used in a bad way. Right now bots are still far from completion and it still needs a lot of improvements but, we couldn't deny that it slowly shows how much opportunities and benefits it could bring to our day to day tasks.

[Flexystar]

How about you, what are your thoughts regarding this one?

They can not overpower the current situation for various reasons. Let us do back analysis of the ChatGPT. They are based on the data which is available throughout the internet. There is no filtering program yet or if there is any then its not doing the job correctly yet. Let us understand what we are looking at here. Whenever you ask a question to the ChatGPT then it will give you ABC answer in the first attempt. If you are not convinced then it will give you another answer. This time it could be arranged in different way, it will have more or less paragraphs, it will have more or less information. It may trim some part in the second attempt and may add some extra likewise.

The problem starts when you ask the ChatGPT same question 3rd time or more. It will only keep scrambling all your answers and keep producing almost similar response later.

Now if the implications are done to critical pattern analysis like trading then imagine what it may do? It will have it's reliance on millions of failed trades to give some positive outputs.

I don't know I do believe it's sort of "fresh" tech out of the blues.

[BenCodie]

Over the recent years, technology has improved leaps and bounds, and one notable development is the rise of GPT AI, an artificial intelligence that allows machine to interact with humans in a more natural and conversational way. We cannot ignore the fact that it lessens the amount of work needed in some areas in our economy and society, thanks to the advancements of machine learning, natural language processing and deep learning, as a result GPT AI has become a powerful tool for businesses. Although we could say it gives us benefit, we can't still be so sure with the risks involved that maybe can outweighed or may potentially ruin the economy.

"GPT AI has also been used to develop trading bots that can automatically execute trades based on pre-programmed rules and conditions. These bots can monitor the market 24/7 and make trades based on real-time data, which can lead to more profitable trades and reduced risk."

Based on that statement alone, we can conclude that there will be potential risks such as trading bots that could manipulate the market which could lead to significant losses.

How about you, what are your thoughts regarding this one?

Can you please provide a source for this quote/information? I ask this because as far as I am aware, ChatGPT/Openai GPT-3 is only indexed up to September, 2021. From that point onward it is incapable of doing things like making predictions. Therefor it would not be viable to build a trading bot based on this version of GPT AI.

[coupable]

The field of artificial intelligence development in general is far from perfect to have this size of impact as you might imagine.  And in the most extreme cases, I do not think that he will be able to make wise decisions in trading, because the process originally requires a margin of error in order for there to be a beneficiary.  I mean, let's imagine that everyone started using artificial intelligence bots for trading, wouldn't there be losers then?  What some may dream of is far from being realistic one day because it is simply illogical.

[bettercrypto]

Over the recent years, technology has improved leaps and bounds, and one notable development is the rise of GPT AI, an artificial intelligence that allows machine to interact with humans in a more natural and conversational way. We cannot ignore the fact that it lessens the amount of work needed in some areas in our economy and society, thanks to the advancements of machine learning, natural language processing and deep learning, as a result GPT AI has become a powerful tool for businesses. Although we could say it gives us benefit, we can't still be so sure with the risks involved that maybe can outweighed or may potentially ruin the economy.

"GPT AI has also been used to develop trading bots that can automatically execute trades based on pre-programmed rules and conditions. These bots can monitor the market 24/7 and make trades based on real-time data, which can lead to more profitable trades and reduced risk."

Based on that statement alone, we can conclude that there will be potential risks such as trading bots that could manipulate the market which could lead to significant losses.





How about you, what are your thoughts regarding this one?

even when AI trading is not good for me, because after all it is no different from a trading bot, that's true. Then never or in the future AI will not be perfect compared to real human.

      The method of people like us is still different compared to AI that they will only say or do what is programmed, that's how easy it is to understand.

[karmamiu]

Over the recent years, technology has improved leaps and bounds, and one notable development is the rise of GPT AI, an artificial intelligence that allows machine to interact with humans in a more natural and conversational way. We cannot ignore the fact that it lessens the amount of work needed in some areas in our economy and society, thanks to the advancements of machine learning, natural language processing and deep learning, as a result GPT AI has become a powerful tool for businesses. Although we could say it gives us benefit, we can't still be so sure with the risks involved that maybe can outweighed or may potentially ruin the economy.

"GPT AI has also been used to develop trading bots that can automatically execute trades based on pre-programmed rules and conditions. These bots can monitor the market 24/7 and make trades based on real-time data, which can lead to more profitable trades and reduced risk."

Based on that statement alone, we can conclude that there will be potential risks such as trading bots that could manipulate the market which could lead to significant losses.





How about you, what are your thoughts regarding this one?

even when AI trading is not good for me, because after all it is no different from a trading bot, that's true. Then never or in the future AI will not be perfect compared to real human.

      The method of people like us is still different compared to AI that they will only say or do what is programmed, that's how easy it is to understand.

I hate to say this but there's no actual source for that one, and to be honest at first I was also skeptical on posting it here coz maybe some of ya'll would think it is not a reliable information but, I chose to post it here knowing that coz it is also possible  for bots to be developed that way and I think it is only appropriate for members here to share their different opinions as a way to provoke their imagination and share their unbiased opinions.

[summonerrk]

Over the recent years, technology has improved leaps and bounds, and one notable development is the rise of GPT AI, an artificial intelligence that allows machine to interact with humans in a more natural and conversational way. We cannot ignore the fact that it lessens the amount of work needed in some areas in our economy and society, thanks to the advancements of machine learning, natural language processing and deep learning, as a result GPT AI has become a powerful tool for businesses. Although we could say it gives us benefit, we can't still be so sure with the risks involved that maybe can outweighed or may potentially ruin the economy.

"GPT AI has also been used to develop trading bots that can automatically execute trades based on pre-programmed rules and conditions. These bots can monitor the market 24/7 and make trades based on real-time data, which can lead to more profitable trades and reduced risk."

Based on that statement alone, we can conclude that there will be potential risks such as trading bots that could manipulate the market which could lead to significant losses.

How about you, what are your thoughts regarding this one?

For some reason, everyone forgets that ChatGPT was created by a certain company of People. That is, they have control over it. All we see now is only a limited version of it. As far as I know, this artificial intelligence has self-awareness disabled. Then what did the developers see in the process of creating it? We are on the threshold of amazing discoveries. Regarding the topic of the bot's influence on the markets, it is impossible to predict it, even ChatGPT will not be able to do this. There are too many variables.

[yhiaali3]

There is still a long way to go, and these concerns are early. Artificial intelligence robots are still in their infancy and make a lot of mistakes so far, so there are no real concerns at the moment.

But over time these bots will surely become smarter, but as always in every new invention there is a downside and a positive side, the crypto community can take advantage of the positive side and learn appropriate ways to avoid the negative side.

Contrary to your concerns, I am of the opinion that they can be leveraged more positively than their negative aspects.

[Fortify]

Over the recent years, technology has improved leaps and bounds, and one notable development is the rise of GPT AI, an artificial intelligence that allows machine to interact with humans in a more natural and conversational way. We cannot ignore the fact that it lessens the amount of work needed in some areas in our economy and society, thanks to the advancements of machine learning, natural language processing and deep learning, as a result GPT AI has become a powerful tool for businesses. Although we could say it gives us benefit, we can't still be so sure with the risks involved that maybe can outweighed or may potentially ruin the economy.

"GPT AI has also been used to develop trading bots that can automatically execute trades based on pre-programmed rules and conditions. These bots can monitor the market 24/7 and make trades based on real-time data, which can lead to more profitable trades and reduced risk."

Based on that statement alone, we can conclude that there will be potential risks such as trading bots that could manipulate the market which could lead to significant losses.

How about you, what are your thoughts regarding this one?

There have been a lot of so-called ground breaking technologies out there which in reality did not pan out to the widespread effect that was claimed by many at the start. Let's not forget that there have been many cases where it gets information wrong and it also gathers information largely from people who have produced it beforehand. While it may put certain groups of people out of a job, which should be beneficial to everyone in the long run as automation often frees up people for other employment opportunities elsewhere, it will probably not go as far as the doom and gloom predicts - of putting everyone in IT out of a job. Bot trading has been around for decades already and as it is based on heavily outdated information it's not really that advanced in comparison.

[cabron]

Surely it can do a lot of things, even bad stuff. But the GPT AI has to be updated often, meaning these bots are dependent on men.

AI manipulating the market seems like a sci-fi movie. Can't see it happening since the economy is governed by people. We aren't going to deploy AI as leaders that can decide stuff for the government. AI can't determine to just add money into the system for its plan. Besides, what will AI do to the profits it make?

[Synchronice]

"GPT AI has also been used to develop trading bots that can automatically execute trades based on pre-programmed rules and conditions. These bots can monitor the market 24/7 and make trades based on real-time data, which can lead to more profitable trades and reduced risk."

ChatGPT has two problems, the first one is that it's not an AI and second one is that its data only goes up until 2021. Now is 2023, things change at the speed of light. The only way ChatGPT can help people to build trading bots from the information that's available online, i.e. from stackoverflow, github, reddit. If you are good at search and know what to search and how, then you'll perform it better than so called ChatGPT AI.
And I bet, if you post a question on stackoverflow, you'll build better product.
At the moment ChatGPT is not a risk, nor an AI. It's just advanced algorithm right now and wish will remain the same.

[Emitdama]

First of all, ChatGPT is no magic, but it is an artificial intelligence that has been trained using data and that is what it uses to produce responses for the users, no matter how complex. I know that it is pretty impressive with almost everything it does, but it doesn't mean that it is totally flawless. The programming codes, or even responses sometimes, can be wrong and will always need at least a manual check before they are used somewhere else.

The trading bots or any softwares, websites, or applications that are built using it must have been thoroughly examined, tested and then deployed by human developers, and if not, no one should use them as they could put their money under risk.

Also, it would have been nice to see the resources where you read that sentence you have mentioned in italic about trading bots being developed using ChatGPT.

[serveria.com]

Over the recent years, technology has improved leaps and bounds, and one notable development is the rise of GPT AI, an artificial intelligence that allows machine to interact with humans in a more natural and conversational way. We cannot ignore the fact that it lessens the amount of work needed in some areas in our economy and society, thanks to the advancements of machine learning, natural language processing and deep learning, as a result GPT AI has become a powerful tool for businesses. Although we could say it gives us benefit, we can't still be so sure with the risks involved that maybe can outweighed or may potentially ruin the economy.

"GPT AI has also been used to develop trading bots that can automatically execute trades based on pre-programmed rules and conditions. These bots can monitor the market 24/7 and make trades based on real-time data, which can lead to more profitable trades and reduced risk."

Based on that statement alone, we can conclude that there will be potential risks such as trading bots that could manipulate the market which could lead to significant losses.

How about you, what are your thoughts regarding this one?

There is zero risk for Bitcoin from using AI trading bots. But it can be really bad for the people using them:
1) AI is prone to mistakes. A bug can make it do something stupid which can lead to you losing your funds.
2) AI can be mislead by other trading bots, it can create fake trends etc which can be abused by human traders
3) AI can be hijacked by a hacker and you never know what an army or zombie bots can do.
etc etc etc

But as a result, AI users not crypto will be the victims of this behavior.  

P.S. And yes, using ChatGPT mentioned by many in this thread is a particularly horrible idea. ChatGPT is a chat bot, not a trading bot. Using it for trading is the shortest way to getting rekt.

[AmoreJaz]

Surely it can do a lot of things, even bad stuff. But the GPT AI has to be updated often, meaning these bots are dependent on men.

AI manipulating the market seems like a sci-fi movie. Can't see it happening since the economy is governed by people. We aren't going to deploy AI as leaders that can decide stuff for the government. AI can't determine to just add money into the system for its plan. Besides, what will AI do to the profits it make?

for sure they won't see it coming if the dev of the project is about to abandon their platform. we can't say, they are perfect and will automatically execute your trades always with profit. it still depends on how much info they have and how they are being set-up. don't treat this as the solution to your trading activities and that it has no room for error. the programming still depend on a human. so you can't say, you always have your perfect trading experience.

[tjtonmoy]

"GPT AI has also been used to develop trading bots that can automatically execute trades based on pre-programmed rules and conditions. These bots can monitor the market 24/7 and make trades based on real-time data, which can lead to more profitable trades and reduced risk."

Bot trading has been here for many years now. But that didn't make any major difference in the market so far. And this ChatGPT AI is strong, can't deny that. But it has its own limitations. It has the power to provide the information and maybe guide you through some difficulties, but it's not strong enough to give you the final result. You'll have to do it on your own. Saying that, trading bot could increase your profits and you can be away while the bot will do your works. That doesn't mean that it could make a huge impact on the market. Not yet, but maybe in the future. And that's a long journey. I am sure people will come up with some new idea or technology to overcome this.

[Captain Corporate]

This already exists, I sold one like this years ago, and it worked exactly like this. You would give it basically a system, tell it to buy when X happened and sell when Y happened, then put in as many pairs as you want, and then some money in your exchange, and then let it do its business. If you are a moron like me, you would pick a terrible X and Y, and make a loss from it or not even understand how to operate it. I have seen people lose thousands and thousands of dollars, I have seen people make thousands and thousands of dollars. Its not about the software, its about who uses it, if you are good, this will help you, if not then nothing can.