Trade on Binance via ChatGPT!

[NotATether]

I've noticed that concerns about "what if ChatGPT misinterprets" still persist from your messages. Allow me to provide a brief overview of the process to address these worries. Each time a user sends a new message, the bot interprets it into one of three categories:

1) Prompt that don't require special functions, using ChatGPT knowledge only.
2) Prompt that require specific functions but no actions within their exchange account (e.g., price and volume inquiries).
3) Prompt that require special functions and actions within their exchange account (e.g., opening positions, canceling orders, etc.).

So basically this is like a normal trading platform except the tips, help, and agents are replaced by ChatGPT responses? Because I can't imagine ChatGPT being able to correctly time the market especially since it's not trained on recent data. If it was an in-house AI trained on financial market data, I'd understand. But ChatGPT cannot even get simple math problems right...

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[Lucius]

~snip~
AI that's available in public at the moment, is bullshit. How can we call it an intelligence when it follows certain written algorithms instead of pure creativity and own exclusive decision-making? And I am sceptical about those documentaries too and I think their purpose is to direct attention of people on some absurd.

I agree that the situations I described are absurd, but I would not agree that it is absurd to talk about it publicly, because it is precisely such examples that show us that we cannot rely on such systems when it comes to things that require a person to manage them and to make decisions based on human perception and feelings.

In the specific case of trading with cryptocurrencies, the biggest damage can be that the AI messes up badly and creates a financial loss for us, but if you follow what is happening in the military industry when it comes to AI, the implications are far more dangerous and can have catastrophic consequences for humanity.

[Flexystar]

using symbol whitelist, you can ensure that transactions are limited to your chosen coins. As for pump-dump activities, it's known that such activities often target low-volume coins. Avoiding these is within your control.

It doesn't remove the risk since hackers can still manipulate them as long as they have enough accounts. Basically, the critical problem is likely how secure your system is. To be fair, you can't change how most exchange APIs work, so the only thing you can improve is securing your customer info. I think you've yet to answer my question about this in the previous post, so it would be better if you can answer.

I do not concur, it actually adds up more security vulnerabilities since we are already giving away our sensitive credentials to the third party API that means we are no longer in the control of our own account. Imagine on the broad level where a service who is providing the ChatGPT based trading and we have to connect our Binance or any trading channel with their servers. Now, let us assume that hackers do not have direct contact with the Binance server, and they have highly secured data protection (imagination), BUT, what makes this a similar possibility with the third party end? What if ChatGPT provider gets hacked in the first place and thus there is indirect data breach of the users credentials and jeopardizing the Binance data too.

I've noticed that concerns about "what if ChatGPT misinterprets" still persist from your messages. Allow me to provide a brief overview of the process to address these worries. Each time a user sends a new message, the bot interprets it into one of three categories:

1) Prompt that don't require special functions, using ChatGPT knowledge only.
2) Prompt that require specific functions but no actions within their exchange account (e.g., price and volume inquiries).
3) Prompt that require special functions and actions within their exchange account (e.g., opening positions, canceling orders, etc.).

So basically this is like a normal trading platform except the tips, help, and agents are replaced by ChatGPT responses? Because I can't imagine ChatGPT being able to correctly time the market especially since it's not trained on recent data. If it was an in-house AI trained on financial market data, I'd understand. But ChatGPT cannot even get simple math problems right...

We are not even close to it. What info ChatGPT will pick from the market? Fake news or fake promo's? Will it be even able to differentiate between the true nature of news or not that is also the question. That's why human intelligence is far better and when it is about your money, gosh it has to be in your own pocket and control.

[joniboini]

I do not concur, it actually adds up more security vulnerabilities since we are already giving away our sensitive credentials to the third party API that means we are no longer in the control of our own account. Imagine on the broad level where a service who is providing the ChatGPT based trading and we have to connect our Binance or any trading channel with their servers.

I'm not sure you are disagreeing with me or the post that I quote. I do share the same belief that their system is risky, but they can't really change how exchange APIs work although it doesn't excuse them if they make sloppy mistakes like storing customers' databases on plain text. I've asked them how they would make sure the API keys don't get leaked either from their database or other means, but they've yet to answer.

[virasog]

I'm excited to introduce our latest innovation: Trading Operator! We've developed a new application that allows you to trade on the Binance exchange through chat-based interactions, powered by the ChatGPT framework.

Do you even know what is ChatGPT ?

ChatGPT has access to the information until 2021 and it doesn't have the latest information about the things / news and prices.

I asked ChatGPT to tell me about the bitcoin's current price and it failed to do so. When a programme does not know the latest prices of bitcoin and cryptocurrencies, how can you use that technology to do the trading?

[Zoomic]

I'm excited to introduce our latest innovation: Trading Operator! We've developed a new application that allows you to trade on the Binance exchange through chat-based interactions, powered by the ChatGPT framework.

Do you even know what is ChatGPT ?

ChatGPT has access to the information until 2021 and it doesn't have the latest information about the things / news and prices.

I asked ChatGPT to tell me about the bitcoin's current price and it failed to do so. When a programme does not know the latest prices of bitcoin and cryptocurrencies, how can you use that technology to do the trading?

It is true that ChatGPT works with the information provided it and it is also true that it has information till 2021. If information is provided it beyond 2021, it can also function effectively, so there is no limitations. Besides, before the invention of ChatGPT, there  has been trading with bots. So, what Op said is very achievable but it is the risk behind it that we are very much concerned about. Once given access to the API, they have the ability to manipulate anything even against your wish.

[algoine]

I'm excited to introduce our latest innovation: Trading Operator! We've developed a new application that allows you to trade on the Binance exchange through chat-based interactions, powered by the ChatGPT framework.

Do you even know what is ChatGPT ?

ChatGPT has access to the information until 2021 and it doesn't have the latest information about the things / news and prices.

I asked ChatGPT to tell me about the bitcoin's current price and it failed to do so. When a programme does not know the latest prices of bitcoin and cryptocurrencies, how can you use that technology to do the trading?

https://i.ibb.co/L1Qn6kz/Chatgpt.png

That's precisely why we're introducing a new product instead of ChatGPT. Ours comes with features like retrieving the BTC price (and more)

***

I do not concur, it actually adds up more security vulnerabilities since we are already giving away our sensitive credentials to the third party API that means we are no longer in the control of our own account. Imagine on the broad level where a service who is providing the ChatGPT based trading and we have to connect our Binance or any trading channel with their servers.

I'm not sure you are disagreeing with me or the post that I quote. I do share the same belief that their system is risky, but they can't really change how exchange APIs work although it doesn't excuse them if they make sloppy mistakes like storing customers' databases on plain text. I've asked them how they would make sure the API keys don't get leaked either from their database or other means, but they've yet to answer.

We do not store our customers' databases in plain text. Our data security is ensured through the implementation of encryption algorithms. Additionally, OpenAI does not access your Binance API Key unless you directly input it into the chatbot. Our team handles these matters with the utmost care and sensitivity.

Within the code, the OpenAI infrastructure's maximum level of involvement is obtaining approval for an order. Beyond this stage, it operates separately from OpenAI, and direct requests are sent to Binance. Even if you were to open your browser and input your Binance API Key into ChatGPT, the system would still be unable to execute transactions. Such functionality is not feasible.

***

I've noticed that concerns about "what if ChatGPT misinterprets" still persist from your messages. Allow me to provide a brief overview of the process to address these worries. Each time a user sends a new message, the bot interprets it into one of three categories:

1) Prompt that don't require special functions, using ChatGPT knowledge only.
2) Prompt that require specific functions but no actions within their exchange account (e.g., price and volume inquiries).
3) Prompt that require special functions and actions within their exchange account (e.g., opening positions, canceling orders, etc.).

So basically this is like a normal trading platform except the tips, help, and agents are replaced by ChatGPT responses? Because I can't imagine ChatGPT being able to correctly time the market especially since it's not trained on recent data. If it was an in-house AI trained on financial market data, I'd understand. But ChatGPT cannot even get simple math problems right...

Our Trading Operator app does not possess the capability to autonomously select a coin; its function is solely that of an operator. We have previously outlined the capabilities it possesses. For further clarification, you can refer to the demo video:

https://www.youtube.com/watch?v=8SNKKmNWeT8

Kind Regards

[joniboini]

We do not store our customers' databases in plain text. Our data security is ensured through the implementation of encryption algorithms. Additionally, OpenAI does not access your Binance API Key unless you directly input it into the chatbot. Our team handles these matters with the utmost care and sensitivity.

Can you explain in detail how the data is secured other than using an encryption algorithm? Is it distributed through multiple databases, is it only accessible by one or two people, is it inaccessible to everyone other than the user who needs to prove that they own the key, etc? Again, a lot of service claims the same thing but then turns out they are just lying or using an insecure method like Lastpass, 3Commas, etc.

[Smartprofit]

I appreciate everything that is connected with advanced technologies.  Artificial intelligence, neural networks, machine learning are, of course, technologies with huge development potential.  

However, I am also a practical person.  I understand that these technologies are still far from perfect.  ChatGPT is critically dependent on proper training.  If ChatGPT is not trained or trained with wrong inputs, it will offer wrong solutions to its users.  

Frankly, I would not like to play the role of a mouse for experiments.  Yes, the use of ChatGPT in stock trading may have a future.  But I wouldn't want to use a software product that hasn't been fully tested yet.  

I respect stock trading and respect artificial intelligence, but separately (not together).  I'm not sure ChatGPT will give me the competitive edge I need in stock trading (cryptocurrencies).

[virasog]

I've noticed that concerns about "what if ChatGPT misinterprets" still persist from your messages. Allow me to provide a brief overview of the process to address these worries. Each time a user sends a new message, the bot interprets it into one of three categories:

1) Prompt that don't require special functions, using ChatGPT knowledge only.
2) Prompt that require specific functions but no actions within their exchange account (e.g., price and volume inquiries).
3) Prompt that require special functions and actions within their exchange account (e.g., opening positions, canceling orders, etc.).

So basically this is like a normal trading platform except the tips, help, and agents are replaced by ChatGPT responses? Because I can't imagine ChatGPT being able to correctly time the market especially since it's not trained on recent data. If it was an in-house AI trained on financial market data, I'd understand. But ChatGPT cannot even get simple math problems right...

When i asked ChatGPT about the price of bitcoin, it simply said that it did not have the current data.

I'm sorry, but I don't have access to real-time information as my data only goes up until September 2021, and I can't browse the internet. As of my last update, the price of Bitcoin was highly volatile and could change rapidly. I recommend checking a reliable financial news website or a cryptocurrency exchange to get the most up-to-date price of Bitcoin.

Trading through chatGPT is most wired thing i have ever heard. Trading bots may perform better than ChatGPT but no one can compare the human trading with all these bot trading's.
I just wish people do not always thing to make money by fooling others because many even do not know exactly how ChatGPT words and they may take the OP words as true.

[wallet4bitcoin]

Indeed a cutting-edge technology powered by AI but I didn't see the part where risk management and/or security features are mentioned. Giving access to one's account on binance isn't a thing to joke with. As much as this remains a welcome development, I still consider it a bit risky considering its infancy stage. Personally, I want to know and hear about the downsides before i consider using it.

Imagine giving access to a multimillion dollar account to an AI that is yet to have a downside tested, one might not recover from the damage.