The impact of artificial intelligence, chat GPT on the crypto market.

[vv181]

Coinbase Director Conor Grogan even had to explain recently how a GPT-4 helped him identify flaws that could be exploited both ways, after he dumped an Etherum contract therein.  

The reference you put did not include the information. For all of you wondering, it can be seen at: https://twitter.com/jconorgrogan/status/1635695064692273161. My take regarding that, as many on that tweet suggest, the flawed contract has been published and analyzed publicly. So it is expected it acknowledges such problem.

*Is chat GPT which is the latest AI, the answer to hackers and scammers?

I doubt ChatGPT which incorporates LLM is the latest AI innovation. Also, if you refer to the flawed contract case, using a statistical probability machine to completely address security or vulnerability smart contract issues are concerning, so I don't think it will solve hacker-related issues. Lastly, A scam existed way long ago, and the techniques and schemes keep improving and varying, I'm very certain it has no significant effect to address or answer scamming prevention.

[axxo]

I think there is no definite answer to how artificial intelligence specifically chat GPT, impacts the crypto market as it is a  complex and dynamic system. However i think AI can help anaylyze the market data and identify patterns that may provide insights into market trends and potential investment opportunities. Additionally chat GPT can assist in providing real time updates and analysis to traders and investors. The impact of AI on the crypto market will depend on the various factors including the quality of data used, the accuracy of the AI models, and the overall market conditions.

[Etranger]

I think there is no definite answer to how artificial intelligence specifically chat GPT, impacts the crypto market as it is a  complex and dynamic system. However i think AI can help anaylyze the market data and identify patterns that may provide insights into market trends and potential investment opportunities. Additionally chat GPT can assist in providing real time updates and analysis to traders and investors. The impact of AI on the crypto market will depend on the various factors including the quality of data used, the accuracy of the AI models, and the overall market conditions.

From my experience of interacting with chat-GPT I cannot say that it can provide real time updates. When I asked it to find the latest news related to the crypto market, it answered me every time that it did not update the information in real time and could not provide it to me. Maybe in the future it will be updated faster and get access to the latest news, but so far I have had the feeling that I am the one who enlightens it about the latest events, and not it doing this for me. And because of this, it could not make any analysis of these events, so its value in this regard is still in doubt.

[ancafe]

*Is chat GPT which is the latest AI, the answer to hackers and scammers?

This still seems new to some people in the tech field, GPT Chat is a creation of humans and it is still possible to provide inaccurate information as this system works based on human input and although many people say its accuracy rate is almost 90%, GPT Chat is artificial and no smarter than its creators (humans).

*Is it a policing agent that would help stabilize anonymous anomaly in the trading space thereby reducing volatility?

Volatility exists in almost any trade even for gold, so linking GPT Chat with a police agency makes absolutely no sense. I want you to use GPT Chat and ask where Satoshi Nakamoto is right now? the answer is exactly like many of the news you've read and doesn't paint a more specific picture at all.

Or you can also ask how bitcoin is in 2024 and of course the answer resembles most of the analysis and credible news that is loaded. I believe that this artificial intelligence has advantages, but don't make it an answer/solution without reviewing it from other sources to reinforce your search.

[lixer]

I see the latest rave and have had to silently partake by keeping up with the conversation as regards chat GPT introduction and sudden need to finetune it serve varying online and even offline real problems.

 Coinbase Director Conor Grogan even had to explain recently how a GPT-4 helped him identify flaws that could be exploited both ways, after he dumped an Etherum contract therein.  

*Is chat GPT which is the latest AI, the answer to hackers and scammers?
*Is it a policing agent that would help stabilize anonymous anomaly in the trading space thereby reducing volatility?

That was the main function of ChatGPT to help the coders so it's no surprise that it fixed the issue of Coinbase. Good thing that they use new version of ChatGPT quickly before someone else use it and hack their company. They might paid big to be on of the early users of it.

My answer to your first question is yes but hackers and scammers can use this to find loopholes and make an exploit so better to check our system from time to time and fix those issues immediately before they try to make their moves. For your second question, no it's not a policing agent. It's only just a software to aid some people in their hobbies. Volatility in the crypto market will always remain and won't be reduced by someone or something like ChatGPT.

[Fortify]

I see the latest rave and have had to silently partake by keeping up with the conversation as regards chat GPT introduction and sudden need to finetune it serve varying online and even offline real problems.

 Coinbase Director Conor Grogan even had to explain recently how a GPT-4 helped him identify flaws that could be exploited both ways, after he dumped an Etherum contract therein.  

*Is chat GPT which is the latest AI, the answer to hackers and scammers?
*Is it a policing agent that would help stabilize anonymous anomaly in the trading space thereby reducing volatility?

There are all sorts of new and unexpected ways that artificial intelligence can be used in future. It might actually tell us whether crypto is a good idea or not, because at the moment it feels a bit like existing payment processors have all the advantages. The one thing that crypto does have is an anonymity advantage but that seems to rapidly diminish all the time since exchanges get stricter with required documentation. It's kind of funny that people may use artificial intelligence to determine weaknesses in all sorts of things and attempt to predict future outcomes in this space. There is a lot of code and text analysis going on within these forms of AI that could expose many deep flaws that people have overlooked.

[slapper]

Isn't it an exhilarating journey? We're musing if a stellar AI, like GPT-4, could marshal the crypto frontier. Allow us to untangle this conjecture. Sure, GPT-4 can be a golden shield against certain pitfalls. Its talent in pinpointing system weak spots is priceless. But, picturing AI as a cybernetic lawman restoring order in the crypto saloon? It echoes more of a fantastical tale.

Mind you, while AI is formidable, it isn't infallible. Its intelligence matches the caliber of the data it was schooled on, its morals as virtuous as the ethics encoded within. To delegate the mission of purging scams and breaches to it is to beckon a new host of dangers - AI exploitation and misuse, to mention a few. Therefore, instead of idolizing AI as the silver bullet for our cryptocurrencies, we ought to regard it as a valuable apparatus, specifically for fortifying Bitcoin. The triumvirate of human vigilance, stringent regulation, and enlightened users still remains our best line of defense.

[Die_empty]

*Is chat GPT which is the latest AI, the answer to hackers and scammers?

It could be an effective technological tool to identify loopholes in systems and proffering solutions. But there is still a need for periodic upgrades of these AI tools because scammers are constantly looking for avenues to gain access to the network or systems of firms and individuals. We should also be aware that the task of privacy shouldn't be totally handed over to artificial intelligence tools but humans should be there to supervise and analyze it's performance. This is important because every system or program can malfunction or be attacked. Humans remains the best scam or hack dictators.

Yes and it is being discussed a lot for now. I'm sure you are also monitoring the current development of the cryptocurrency market and it is very volatile especially now, it is very vulnerable to correction. It seems that no one has been able to provide an accurate picture of conditions in the world of money market, although even the most sophisticated AI algorithms are not able to predict with 100% accuracy.

I have seen some traders that claim that robots are effective in crypto trading. So they relax and handed all their trading to bots to handle. Many of them lost a good amount of money because these bots are just programmed dummies that lack any form of reasoning. A slight change from the task they are programmed to handle will lead to malfunction or destabilization.

[bluebit25]

It is true that GPT chat is a very good creation when it comes to applying AI in life as well as using it for the purpose of the cryptocurrency market. However, I find that applying it to the right job is still not really effective. Maybe it's because we still haven't been able to fully optimize the capabilities that AI brings when analyzing or collecting data that humans used to do very well. In addition, I see that taking advantage of AI to cheat or taking advantage of vulnerabilities when using AI is also something that we need to pay attention to. Although AI is becoming more and more perfect, not using it to its fullest extent will only make us fall behind, not progress.

[Bitstar_coin]

I think there is no definite answer to how artificial intelligence specifically chat GPT, impacts the crypto market as it is a  complex and dynamic system. However i think AI can help anaylyze the market data and identify patterns that may provide insights into market trends and potential investment opportunities. Additionally chat GPT can assist in providing real time updates and analysis to traders and investors. The impact of AI on the crypto market will depend on the various factors including the quality of data used, the accuracy of the AI models, and the overall market conditions.

To me, AI and Chat GPT only enhanced what is already on ground so the impact imo is not that too significant. Before app like chat gpt, market analysis already taking place and we'll advance too. AI came to make the process a bit more easier and faster perhaps but the impact is not jaw dropping.
This would have been very impactful back in 2011/12. An I don't think crypto community uses chat gpt or similar app that much otherwise you will actually feel the impact.

[Hamza2424]

I am not sure ChatGPT and AI are affecting the crypto market typically I think I need to wait for more feedback on the thread to understand the OP's concern and then maybe I will be able to educate myself about how far this is affecting the crypto market and in which direction it can lead us in future.

But I am sure it is greatly affecting the content writers by giving smooth results and fast responses. Even professionally it is affecting them somehow because those who need just information and they do not want to engage anyone in the content reading and those who don't care about the Ai generation are using them to write their content. At the same time, Bloggers and analysts who need descriptive explanations and high-quality engagement of the audience into their content still prefer the Humman-generated content and they approach the content writers still in the age of AI.

Sooner or Later it might be a big problem for them when it will be more precise and when it will adapt the emotions in the writing.

[alastantiger]

*Is it a policing agent that would help stabilize anonymous anomaly in the trading space thereby reducing volatility?

On the contrary it won't. It depends on how it is used. Some days ago I read about how a burning house next to the White House image generated by an AI caused the market stock market to almost crash. That is the single most powerful example of how much is can affect the stock market and even cryptocurrency market by extension.

AI-generated fake image of an explosion at the Pentagon briefly went viral on social media. Subsequently, US officials have confirmed that there was no explosion and it was nothing but a hoax.However, the hoax image of explosion at Pentagon resulted in a ten-minute long dip on the stock markets on Monday

https://www.google.com/amp/s/m.economictimes.com/news/international/us/ai-generated-fake-image-of-pentagon-explosion-goes-viral-on-social-media-stock-markets-feel-the-heat/amp_articleshow/100428032.cms

[serveria.com]

I see the latest rave and have had to silently partake by keeping up with the conversation as regards chat GPT introduction and sudden need to finetune it serve varying online and even offline real problems.

 Coinbase Director Conor Grogan even had to explain recently how a GPT-4 helped him identify flaws that could be exploited both ways, after he dumped an Etherum contract therein.  

*Is chat GPT which is the latest AI, the answer to hackers and scammers?
*Is it a policing agent that would help stabilize anonymous anomaly in the trading space thereby reducing volatility?

Reference link for further read:
https://www.forbes.com/sites/forbesbooksauthors/2023/02/28/the-intersection-between-ai-and-blockchain-technology--industries-of-tomorrow/

Relying on AI in investments or crypto is bad idea. And I'm not even talking about ChatGPT providing false information frequently. ChatGPT is a language model it's not a trading bot, crypto investment advisor AI or something similar. And of course it can't tackle hackers and spammers, because at the end of the day it's human who makes the final decision and is prone to fraud.

[Captain Corporate]

Some of my friends at marketing world started to utilize AI world, and I still insist that they are not AI, they are just software designed to do certain task, as any other we have seen, just a different software. However, they do use it very well, how? They use it to do marketing, which means they are getting help with everything they need, from SEO to ad networks to preparing press release to adjusting calculations on which ads work better, to designs, to anything else really. They are utilizing it to max, it hasn't been really that much so far so I can't say that they are making money thanks to that, they were making money before, they are now, maybe their job is easier, that's all I can assume, but at least I know that if you are in the crypto market and want to take a look at AI from another approach, by utilizing for work instead of coins, then you could maybe make a decent return.

[dothebeats]

It's not about the algorithms that can change everything; it's about the execution. Even the high-end bots in Wall Street don't care much about the algorithm but rather the speed on which they are able to execute a trade compared to others. Heck, they are elated even with a few millisecond improvement on their bots because that means everything. I don't think ChatGPT will make much of a difference in terms of trading. It can assist in creating bots, but not in execution trades itself.

[someone703]

When I use Chatgpt, I find that there are still many limitations when using it to provide certain information or answer in the same sentence pattern with many different questions. In addition, many times the information is completely wrong, and there is a problem with the timing of the answers. Maybe in the future, the founder can fix and improve the above problems to make them easier and faster for users. As for the present, it is difficult to talk about a specific picture; sometimes I think that if I don't ask these questions, it probably won't know where it is.

[Uruhara]

Relying on AI to improve security sounds pretty good. But instead I am also worried that the existence of AI will actually give birth to more fraud. The bottom line is that security improvements will probably occur but AI-assisted crime increases will also occur. so the bottom line is this doesn't change anything at all. It's just that we are left behind and don't learn AI, so we can become backward people and become targets of fraudsters who use AI.

in Crypto AI analysis it can indeed be utilized. AI and Blockchain can indeed coexist and complement each other in building better security. but it all depends on who is using the AI. if we ask AI in security enhancement. then there will be fraudsters out there asking AI how to escape the security system.

[Cling18]

It is indisputable that AI tools today offer useful services and make it simpler for everyone to grasp things, including knowledge about cryptocurrency. But to be honest, we can't still rely on tools because they still have limitations. Others could also easily use Ai tools in cheating in terms of jobs, studying, etc.
When it comes to trading or even gambling, Ai tools are generally useful but not 100% reliable. However, their existence is still a good thing since we could lean on them in case we are having difficulties in a certain activity. It could utilize different aspects of our lives easily which I think is an advantage nowadays. It might easily be applied to several facets of our lives, which I believe is beneficial in the modern world.

[Hispo]

In my personal opinion an artificial intelligence should not be left alone in an open environment where it can code and control programs which have direct contact with the internet. Artificial intelligence in this stage of development is supposed to be studied and deployed in enclosed environments where they can be controled if something goes wrong.

Now, if we talk on the impact of AI on the crypto market, I think for now it will be indeed used to analyzed code (in an isolated environment) and also perhaps in some months of years, some traders may try to power their trading bots with AI, seeking to increase their profits while they need to take a nap or get away from their computers.

The important thing in this context is not to abuse of this technology and forget the moral implications of it, it is not all about profit but also security.  

[Poker Player]

On a related note, I recently saw that artificial intelligence is estimated to increase the productivity of S&P 500 companies and with it profits, while at australopithecustalk the debate is how to prevent it from being used in the forum rather than how to embrace it.

Of course it is going to have an impact on cryptocurrencies, and on society in general, in the same way that the internet or cell phones have had.