AI can hold a Bitcoin balance, send/receive Bitcoin. Worrying?

[alastantiger]

These developers Olaoluwa Osuntokun and Michael Levin have released a set of developer tools that can be leveraged upon to create agents that can hold a Bitcoin balance (on-chain and Lightning), send/receive Bitcoin on Lightning, and also directly drive with a LND node.

This is a snapshot of the article and the link to the full article is attached below

link: https://lightning.engineering/posts/2023-07-05-l402-langchain/

I have a to degree understand the importance of the lightning node and its importance to sending and receiving bitcoin. However, incorporating Artificial Intelligence(AI) to now hold bitcoin, with the ability to send and receiving bitcoin on Lightning doesn't augur well with me. As folks who are bitcoin bullish do you have any concerns or worries regarding this development?

[joniboini]

with the ability to send and receiving bitcoin on Lightning doesn't augur well with me.

What are the reasons? Are you worried about the potential bugs or abuse by others who develop the script? As far as I can understand from the article, the tool is basically targeted at developers who use AI to lower the cost to launch/maintaining their apps. For end users who don't plan to use it, I don't think anything is going to change that much. Is there a new attack vector from this tool that you know of?

[d5000]

However, incorporating Artificial Intelligence(AI) to now hold bitcoin, with the ability to send and receiving bitcoin on Lightning doesn't augur well with me. As folks who are bitcoin bullish do you have any concerns or worries regarding this development?

AI is a relative complex form of applied statistics in computing. So basically it isn't much different to earlier approaches where also "an algorithm" decides, based on certain statistics, to buy or sell Bitcoin. (Almost every Bitcoin transfer is also a "buy" or "sell" action - for goods or for fiat -, aside from some special actions like "UTXO consolidation"),

I generally don't have major fears related to the implementation of these features for Bitcoin software. However, I think AI (more precisely: machine learning) could be relevant for the trading bot technology, because it may find new trading strategies which in pre-AI times were "hidden" and never used as chart patterns. I guess however that that approach may not that new, as machine learning is around for almost 70 years now. However the current AI boom (since the introduction of ChatGPT) could lead to more investment and refining of these techniques. For example, distinct kinds of statistics (not only price info) could be combined by an AI trading bot for investment decisions. And maybe we will witness eventually, due to these developments, the first "AI-generated Bitcoin crash". Or bull run, of course.

The technology mentioned in the article (LLMs) is much less of an issue, as it's simply a new form of user interface. You could let a LLM "manage" some micropayments, for example, to save time. But for bigger investments LLMs are, in my opinion, too dumb - and may lead to losses of money.

[Findingnemo]

Security and data privacy are the important concerns by letting AI tool to automate sending and receiving of cryptos. I won't trust any technology no matter how much trusted they are, allowing it to access our private keys is big concern and it voids the security so if the data from software leaks then your funds are at the risk.

[alastantiger]

However, incorporating Artificial Intelligence(AI) to now hold bitcoin, with the ability to send and receiving bitcoin on Lightning doesn't augur well with me. As folks who are bitcoin bullish do you have any concerns or worries regarding this development?

The technology mentioned in the article (LLMs) is much less of an issue, as it's simply a new form of user interface. You could let a LLM "manage" some micropayments, for example, to save time. But for bigger investments LLMs are, in my opinion, too dumb - and may lead to losses of money.

This is very good explanation. Since I don't speak tech I thought the AI being talked about in the article, would act like humans that can do bitcoin transactions just like we do viz a viz storing bitcoins in a cold wallet, making payments for goods or services on command etc. Since this is just a new form of user interface as mentioned it means that it may be available for businesses only. 

[pawanjain]

Security and data privacy are the important concerns by letting AI tool to automate sending and receiving of cryptos. I won't trust any technology no matter how much trusted they are, allowing it to access our private keys is big concern and it voids the security so if the data from software leaks then your funds are at the risk.

As folks who are bitcoin bullish do you have any concerns or worries regarding this development?

No. People who've tried chatbot (such as chatGPT) already know AI sometimes can produce wrong information. Imagine what would happen if the AI send to wrong recipient, send wrong amount or set wrong amount of transaction fee. So anyone who value their Bitcoin wouldn't let AI manage their Bitcoin.

As far as I understood, these AI tools are developed to facilitate developers to create more robust AI infrastructures with LN because earlier they were using credit cards due to which the cost was high.
It's not meant for use of regular users and in no way it mentions that regular users should give away their private keys to these AI tools.
That would be a blunder in itself and nobody with a sane mind would ever commit this mistake of giving their private key to any 3rd party.

[odolvlobo]

...I thought the AI being talked about in the article, would act like humans that can do bitcoin transactions just like we do viz a viz storing bitcoins in a cold wallet, making payments for goods or services on command etc. ...

I'm curious about what you think might be wrong with that scenario. Why would it be a problem?

Regardless, we already have computer-driven payments. When Netflix wants to charge you, they don't have a person that calls up the credit card company. It is all done by computer.

Many of my bills are handled completely by computers. The power company's computer figures out how much I owe and sends a payment request to my bank's computer. Then, my bank's computer does an ACH transaction with the computer at the power company's bank and the money is transferred. Finally, the computer at the power company's bank tells the computer at the power company that my bill has been paid. All of this is done without any human involvement.

[suzanne5223]

As folks who are bitcoin bullish do you have any concerns or worries regarding this development?

No. People who've tried chatbot (such as chatGPT) already know AI sometimes can produce wrong information. Imagine what would happen if the AI send to wrong recipient, send wrong amount or set wrong amount of transaction fee. So anyone who value their Bitcoin wouldn't let AI manage their Bitcoin.

That's correct.
I think there so much to AI that some people don't know that AI was in existed before the overhype of ChatGPT which is an AI chatbot with some drawbacks cause of its lack some quality algorithms, human expertise, model architecture, and especially data that determine the good functionality of an AI.

As others have said, the idea introduced by the lightning team is not something new but AI can success handle holding wallet balance, and send and receive payment without mistake, Besides, there's a certain no KYC exchange I used which executes instant withdrawal and one of the faster crypto deposit through the use of AI before ChatGPT was announced.

What I am trying to say is that everything OP  said is possible if the AI used by the team has quality algorithms, human expertise, model architecture, and data with the inclusion of constant development.

[sheenshane]

As folks who are bitcoin bullish do you have any concerns or worries regarding this development?

No. People who've tried chatbot (such as chatGPT) already know AI sometimes can produce wrong information. Imagine what would happen if the AI send to wrong recipient, send wrong amount or set wrong amount of transaction fee. So anyone who value their Bitcoin wouldn't let AI manage their Bitcoin.

I tend to agree with this and I think this picture out that no one will trust AI to hold funds.
IMO, trusting an AI system with the custody and management of Bitcoin may we feel uneasy, we might worry about the potential for errors or malicious actions that are made by AI.  We prefer to have full control over funds by holding their private keys.

So I think this is impossible to happen because AI isn't capable in the Bitcoin system.

[komisariatku]

I have a to degree understand the importance of the lightning node and its importance to sending and receiving bitcoin. However, incorporating Artificial Intelligence(AI) to now hold bitcoin, with the ability to send and receiving bitcoin on Lightning doesn't augur well with me. As folks who are bitcoin bullish do you have any concerns or worries regarding this development?

For me personally, I don't want AI or anyone to have control over my assets. Moreover, AI technology is still in its early stages, we don't know how AI will be in the future. However, AI has a weakness if it misreads system conditions or errors. I think it's too risky

But I am not against technological developments. So my decision may change in the future, if indeed AI is very sophisticated and rarely makes mistakes. AI technology in the future will probably play many important roles, this vision is in line with the industrial revolution 4.0. So my conclusion, for now I don't believe in AI, but in the future maybe I will change it

[tread93]

As folks who are bitcoin bullish do you have any concerns or worries regarding this development?

No. People who've tried chatbot (such as chatGPT) already know AI sometimes can produce wrong information. Imagine what would happen if the AI send to wrong recipient, send wrong amount or set wrong amount of transaction fee. So anyone who value their Bitcoin wouldn't let AI manage their Bitcoin.

Could you imagine if you employed a ChatGPT bot to trade your bitcoin in the hopes of generating a profit and it just sent it all to its other ChatGPT AI Bot instead? Lmao. I'm sure its possible to write in the script to search for other ChatAI Bots and code them to attempt to sway the other chatbot to send all its holdings to their BTC address, is that possible?

[BenCodie]

Not worrying. Start to worry when AI is given the permission to manage monetary policy, and interact with Bitcoin. Or maybe, that isn't even a worry as AI quickly determines that fiat is the inferior monetary system and buys as much btc as quickly as it can

I don't see cause for concern here but I would love to see what their moves and purposes for sending/receiving the Bitcoin are. I hope that logging is set to 1

[SamReomo]

I have a to degree understand the importance of the lightning node and its importance to sending and receiving bitcoin. However, incorporating Artificial Intelligence(AI) to now hold bitcoin, with the ability to send and receiving bitcoin on Lightning doesn't augur well with me. As folks who are bitcoin bullish do you have any concerns or worries regarding this development?

For me personally, I don't want AI or anyone to have control over my assets. Moreover, AI technology is still in its early stages, we don't know how AI will be in the future. However, AI has a weakness if it misreads system conditions or errors. I think it's too risky

You're right that AI or anyone else can't be trusted in a way that we allow them to have control our assets because any error or wrong information could cause huge losses in long term. I would also say that AI technology needs a lot of improvement in order to be at its best levels because in current state the AI isn't mature enough to take financial decisions. Because of the errors and mistakes of the AI software we can be in trouble if our assets are sent to a wallet that's not controlled by us.

But I am not against technological developments. So my decision may change in the future, if indeed AI is very sophisticated and rarely makes mistakes. AI technology in the future will probably play many important roles, this vision is in line with the industrial revolution 4.0. So my conclusion, for now I don't believe in AI, but in the future maybe I will change it

No body is against technological developments, however, everyone wants a proper working system, and if they can get that system in the form of AI then they would go for it without any question. Yeah, I also believe that in future AI will be much better and the amount of errors and uncertainty will be reduced to very low levels. I think it would be far better to learn machine learning yourself if you want to build a good AI software because if someone knows what he/she is doing then things can be according to his/her decisions. No body can build such AI system for us other than our own selves.

[komisariatku]

No body is against technological developments, however, everyone wants a proper working system, and if they can get that system in the form of AI then they would go for it without any question. Yeah, I also believe that in future AI will be much better and the amount of errors and uncertainty will be reduced to very low levels.

In the future, I have a positive view of the development of AI technology. That AI will probably work very well and be able to analyze massively. Maybe like a super-sophisticated trading robot, able to analyze technical, market trends, issues, global developments, interest rates, inflation rates, etc. so that they can make comprehensive decisions to execute trades. The next question is: what if everyone uses the same AI? is it still effective for trading?

Then, if AI is a technology that can learn itself, is it possible that if we write a lot of wrong opinions in the media it will have an impact on AI analysis errors?

So, even though AI can be very sophisticated, it would be wise if we only put a little of our money to be managed by AI technology. The main amount of assets or money we still have to control ourselves

[Helena Yu]

You're too paranoid @OP.

I guess you're thought if AI can hack your wallet and send your coins to scammer address, where it doesn't like that. Based on the article, it's still controlled by human since you need to write the script, enter the address, enter the amount you want to send etc. It's just more simplifier than the software version.

Pretty much like discussing quantum computing can find someone else Bitcoin private key.

[TravelMug]

I think people will be more paranoid of worrying when they hear news about quantum computing cracking bitcoin's algorithm, but not AI though. If there is, then AI could be a big help for us as far as traders goes because, similar to what a trading bot is doing us for now.

And as per the article, it's a new set of AI tools that can help developers, so perhaps it was like a API tools or something to make the life much easier for this developers.

[Md Ezaz Ahmed]

I acknowledge your concerns regarding the possible risks associated with integrating AI into the Lightning Network. Nevertheless, I am of the opinion that the advantages of this advancement surpass the risks. AI has the capability to enhance the efficiency, security, and accessibility of the Lightning Network. It can automate tasks, identify fraudulent activities, and personalize user experiences. Naturally, it is crucial to thoroughly assess the risks of any new technology before implementing it. However, I firmly believe that the potential benefits of AI outweigh the associated risks.