Could Artificial Intelligence Make Bitcoin Much More Valuable?

[archipelago]

Greetings,

There is one unstoppable tech trend that could have a huge impact on the future price of Bitcoin: the convergence of artificial intelligence (AI) and crypto.

Back in October, Ark Invest's Cathie Wood hosted a podcast titled "Why Bitcoin is the Currency of Artificial Intelligence," and one of the big takeaways was that Bitcoin has certain inherent properties as a digital currency that make it better suited to the emerging AI-powered economy than traditional fiat currencies like the US dollar.

1 Bitcoin consists of 100 million satoshis (just like 1 dollar consists of 100 cents). About 40 of them need to be equal to 0.01 dollars. This could make Bitcoin useful for micropayments, especially the types of micropayments that AI bots can make on your behalf.

Bitcoin is also a peer-to-peer currency, meaning that people can send Bitcoin directly to each other without the need for any financial intermediaries. This means that no intermediary takes a cut of every transaction.

But for very small transactions, Bitcoin is still impractical, given the transaction fees. If a solution to this problem is not found, it could open the door for other cryptocurrencies to become the "currency of Artificial Intelligence".

According to Sam Altman of OpenAI (the company behind ChatGPT), the next wave of innovation will be autonomous AI agents, and this is where Bitcoin could step in and act as a currency.


  How do you think AI will impact Bitcoin or the crypto world?

[Oshosondy]

What that makes bitcoin to be valuable is internet and the device that is used to get access to the Internet. You do not need AI or AI bot to have access to bitcoin. If you do not need AI to buy and hold or sell bitcoin, AI do not make bitcoin more valuable.

[archipelago]

What that makes bitcoin to be valuable is internet and the device that is used to get access to the Internet. Yoy do not need AI or AI bit to have access to bitcoin. If you do not need AI to buy and hold or sell bitcoin, AI do not make bitcoin more valuable.

yes correct, but do you think AI can move BTC or crypto forward by making it act as currencies? Just thinking about the future, auto payments etc.

[cryptomaniac_xxx]

What that makes bitcoin to be valuable is internet and the device that is used to get access to the Internet. Yoy do not need AI or AI bit to have access to bitcoin. If you do not need AI to buy and hold or sell bitcoin, AI do not make bitcoin more valuable.

yes correct, but do you think AI can move BTC or crypto forward by making it act as currencies? Just thinking about the future, auto payments etc.

You don't have to think about the future, that's how Bitcoin was design by Satoshi, for payments. It's that it evolved and now it become store of value, asset or hedge or whatever you can think people can used Bitcoin.

So AI can't do anything to Bitcoin, unless AI bought Bitcoin by themselves <insert sarcasm here>.

[archipelago]

What that makes bitcoin to be valuable is internet and the device that is used to get access to the Internet. Yoy do not need AI or AI bit to have access to bitcoin. If you do not need AI to buy and hold or sell bitcoin, AI do not make bitcoin more valuable.

yes correct, but do you think AI can move BTC or crypto forward by making it act as currencies? Just thinking about the future, auto payments etc.

You don't have to think about the future, that's how Bitcoin was design by Satoshi, for payments. It's that it evolved and now it become store of value, asset or hedge or whatever you can think people can used Bitcoin.

So AI can't do anything to Bitcoin, unless AI bought Bitcoin by themselves <insert sarcasm here>.

Gotcha.. lets hope for the best for bitcoin and anything that may lead to the more usage and recognition of it then.

[Jawhead999]

The only way for AI to make Bitcoin more valuable is accepting Bitcoin payment in their sites, so what are AI sites that accept Bitcoin payment? I didn't find any, much better if they accept P2P payment instead of through fiat to Bitcoin or centralized payment processors.

Currency of artificial intelligence is no more less than bunch of buzzwords, currently online marketplaces, online services, etc have a lot demand, but Bitcoin didn't even become the first currency that being used on there, so don't expect people will use Bitcoin for AI too.

[Hatchy]

According to Sam Altman of OpenAI (the company behind ChatGPT), the next wave of innovation will be autonomous AI agents, and this is where Bitcoin could step in and act as a currency.

Bitcoin is already a digital currency and I real Don't understand what other currency they want Bitcoin to become. It has been serving so many purpose for years now and still serving. so if they choose to input Bitcoin as a digital currency for their Ai products then that's fine so long they dont cause more problems like what we are currently experiencing from ordinals and runes that's flooding the Blockchain.

Besides Ai are still under beta stage and still trying to develop through learning. so how then are they going to help Bitcoin be more valuable. It might be possible in the future but I think they should only use Bitcoin as a payment method and not use the blockchian in anyway for their ai products.

[arwin100]

What that makes bitcoin to be valuable is internet and the device that is used to get access to the Internet. Yoy do not need AI or AI bit to have access to bitcoin. If you do not need AI to buy and hold or sell bitcoin, AI do not make bitcoin more valuable.

yes correct, but do you think AI can move BTC or crypto forward by making it act as currencies? Just thinking about the future, auto payments etc.

Maybe for automation yes there are some instances that AI can move bitcoin. But for the whole it really doesn't matter after all since we see how bitcoin survive without AI technology. People know bitcoin as it is and they always think about this coin for investment. Maybe AI can do something but I believe its for short time hype only.

About auto payments maybe it will come soon but for sure bitcoin doesn't necessarily need this technology since what's important for it is to get more higher demand and if bitcoin would successfully be adopted by a lot of people around the world which there's a huge surge of buy orders or demands will came then that one can truly move bitcoin and could able to convince those legislators that bitcoin is good as alternative currency to be adopted or use.

[Cryptoprincess101]

But for very small transactions, Bitcoin is still impractical, given the transaction fees. If a solution to this problem is not found, it could open the door for other cryptocurrencies to become the "currency of Artificial Intelligence".

This is where I feel the developers of Bitcoin has not done enough work, normally if a transaction involves a huge amount and the transaction fees is a little high, it is understandable but just imagine someone making small transactions and the fees are very frustrating because I've had experience of making a little transaction that involves Bitcoin worth 20$ and I was charged 11$ as transaction charges, it's very painful more especially when you measure the fees amount with that of your native currency.

Though I believe that Artificial intelligence will bring solutions to our monetary system more especially the ones that are associated with cryptocurrency but it cannot solve all but it is most possible to give accurate predictions.

[348Judah]

There is one unstoppable tech trend that could have a huge impact on the future price of Bitcoin: the convergence of artificial intelligence (AI) and crypto.

AI will have impact on bitcoin price, let's wait and see till then if such is possible or not.

Bitcoin is also a peer-to-peer currency, meaning that people can send Bitcoin directly to each other without the need for any financial intermediaries. This means that no intermediary takes a cut of every transaction.

That is why it's a decentralized digital currency, bitcoin is all about financial freedom.

But for very small transactions, Bitcoin is still impractical, given the transaction fees. If a solution to this problem is not found, it could open the door for other cryptocurrencies to become the "currency of Artificial Intelligence".

According to Sam Altman of OpenAI (the company behind ChatGPT), the next wave of innovation will be autonomous AI agents, and this is where Bitcoin could step in and act as a currency.


  How do you think AI will impact Bitcoin or the crypto world?

For now, what we have is bitcoin, let's wait to see the way the future unfolds in many other available opportunities for us and which one we can see perform to the best of interest as bitcoin, but for now, none yet while the future remains unpredictable, its  ore better that we all enjoy bitcoin as it's the only that we have currently before we can aspire for more in the future.

[tranthidung]

yes correct, but do you think AI can move BTC or crypto forward by making it act as currencies? Just thinking about the future, auto payments etc.

You can use Bitcoin as a digital currency, a payment method, a store of value asset, and more. It has many use cases and you are free to pick any use case you want to use with Bitcoin.

There are API, trading bots and AIs don't change too much in automatic trading with bots. From API bots, you can have AI trading bots with latest developments of AI but Bitcoin is here, with or without AI. It can have more use cases in future when adoption becomes better but with time, you will less likely see any actual game-changing use cases for Bitcoin.

Like gold, now it is as it is, do you hope AI to change ways human use gold in society?
Will AI increase or destroy value of gold?

Answer is No for both questions.

[Alphakilo]

yes correct, but do you think AI can move BTC or crypto forward by making it act as currencies? Just thinking about the future, auto payments etc.

AI is great. It has so many benefits in different areas of human endeavor. Currently all I think about AI is that it is just a trend. And as a trend, it cannot beneficial to bitcoin not by acting as a currency but in helping to create educational and informative campaigns on bitcoin. AI cannot act as a currency for bitcoin. Humans are bitcoin largest asset. We are the ones through adoption that can move bitcoin forward in to the future and not AI.

If AI is going to do auto-payments for us in the future how do you think we can mitigate against the risk of hacks as it will have to go online connect to our bitcoin wallet to make auto payments. And I don't think there is any bitcoiner who is going to take this risk.

[Die_empty]

What that makes bitcoin to be valuable is internet and the device that is used to get access to the Internet. Yoy do not need AI or AI bit to have access to bitcoin. If you do not need AI to buy and hold or sell bitcoin, AI do not make bitcoin more valuable.

yes correct, but do you think AI can move BTC or crypto forward by making it act as currencies? Just thinking about the future, auto payments etc.

With or without artificial intelligence Bitcoin is already a currency that is used for the payment of goods and services. The Bitcoin system was designed to be a payment system and this has not changed

Anyway, AI tools have been effective in diverse sectors of the economy and Bitcoin can also benefit from it. Artificial intelligence is been applied in crypto trading and price predictions. Many traders use artificial intelligence to engage in trading and some of them have been beneficial.

Exchanges and other crypto service providers have also benefited from this innovation because it is helping them to operate their platforms and also assist in customer service. But is important to be careful when using these tools because they are not totally error-free and can also be used as a scam or hack tool.

[Casdinyard]

Wouldn't say it's "unstoppable" at this early of a stage all I'm seeing are projects desperately trying to fit the AI narrative into the crypto industry, like a kid trying to pack all his books inside his schoolbag. The way AI in crypto's looking right now, for the most part is more on the side of either using these image generators for content or for memes, as what the SUI community is doing, or creating a project that is a derivative of the OpenAI ChatGPT LLM with crypto as either the pass to access their half-assed, subpar bullshit of a LLM that by the way, is more than likely feeding off of the contents that are pushed out by ChatGPT or as a premium token they receive from using said asswipe of a program.

If things remain like this and no one took the initiative to make the whole AI narrative fit more naturally to the crypto currency world, in a few years' time it's gonna die down, to be replaced with a more apt concept. And no, AI computing for crypto mining is out of the table, that bitch is going to cost you more than if you had just bought yourself an ASIC miner in the used marketplace lol.

[archipelago]

What that makes bitcoin to be valuable is internet and the device that is used to get access to the Internet. Yoy do not need AI or AI bit to have access to bitcoin. If you do not need AI to buy and hold or sell bitcoin, AI do not make bitcoin more valuable.

yes correct, but do you think AI can move BTC or crypto forward by making it act as currencies? Just thinking about the future, auto payments etc.

With or without artificial intelligence Bitcoin is already a currency that is used for the payment of goods and services. The Bitcoin system was designed to be a payment system and this has not changed

Anyway, AI tools have been effective in diverse sectors of the economy and Bitcoin can also benefit from it. Artificial intelligence is been applied in crypto trading and price predictions. Many traders use artificial intelligence to engage in trading and some of them have been beneficial.

Exchanges and other crypto service providers have also benefited from this innovation because it is helping them to operate their platforms and also assist in customer service. But is important to be careful when using these tools because they are not totally error-free and can also be used as a scam or hack tool.

I totally agree with that AI is not error-free and maybe it may take time for AI to implement cryptocurrecies till its %100 safe. Day by day is getting bigger tho and I am honestly amazed by what AI can do.

[AVE5]

What that makes bitcoin to be valuable is internet and the device that is used to get access to the Internet. You do not need AI or AI bot to have access to bitcoin. If you do not need AI to buy and hold or sell bitcoin, AI do not make bitcoin more valuable.

As simple as that and just in a brief, demands and supplies makes determines the valuability of bitcoin and so as it's enhanced when you've a workable networking system for both developers, miners and investors buying and selling and literally never to consider the AI performance.

[Oshosondy]

What that makes bitcoin to be valuable is internet and the device that is used to get access to the Internet. You do not need AI or AI bot to have access to bitcoin. If you do not need AI to buy and hold or sell bitcoin, AI do not make bitcoin more valuable.

As simple as that and just in a brief, demands and supplies makes determines the valuability of bitcoin and so as it's enhanced when you've a workable networking system for both developers, miners and investors buying and selling and literally never to consider the AI performance.

I will agree with this because demand and limited supply are very important to make bitcoin to be valuable. But it is not supplies. It is limited supply. If bitcoin supply is unlimited, it can result to inflation and price devaluation. But because its supply is limited and making bitcoin to be scarce which is even one of the reasons the demand is increasing, thus making the price to increase.

[kryptqnick]

Bitcoin doesn't need AI and is independent of AI. AI can take part in discussing Bitcoin (like people using ChatGPT on this forum), in framing Bitcoin in the media (because some news outlets use AI), in the reputation of Bitcoin (via AI-powered recommendation algorithms). All that, I think, is realistic. But that's not directly related to Bitcoin and how it works.
I think AI will have a huge impact on our lives, but its interaction with Bitcoin will actually be minimal.

[KingsDen]

Bitcoin doesn't need AI and is independent of AI. AI can take part in discussing Bitcoin (like people using ChatGPT on this forum), in framing Bitcoin in the media (because some news outlets use AI), in the reputation of Bitcoin (via AI-powered recommendation algorithms). All that, I think, is realistic. But that's not directly related to Bitcoin and how it works.
I think AI will have a huge impact on our lives, but its interaction with Bitcoin will actually be minimal.

Although the creator of bitcoin had no AI in mind while coding bitcoin, but from all indications, it is becoming clearer that bitcoin will have a good relationship with artificial intelligence in the future in terms of permissionless payment, irreversibility and trustlessness. I am seeing a very big marriage between AI and cryptocurrency in the future.

But for very small transactions, Bitcoin is still impractical, given the transaction fees. If a solution to this problem is not found, it could open the door for other cryptocurrencies to become the "currency of Artificial Intelligence".

I will not blame Bitcoiners when they begin to leave bitcoin to find other ways of process and sending small transactions. Bitcoin is no longer living upto this expectation and the decentralized nature of the currency gives room for some kind of unethical acts in the Blockchain which cannot be stopped unless by a perfect consensus.

[hatshepsut93]

1 Bitcoin consists of 100 million satoshis (just like 1 dollar consists of 100 cents). About 40 of them need to be equal to 0.01 dollars. This could make Bitcoin useful for micropayments, especially the types of micropayments that AI bots can make on your behalf.

There's nothing stopping banks from splitting USD or any fiat currency into tinier fractions that are as small as needed. They don't do it today because no one needs that, but if that would change it would be made with a simple software update.

Bitcoin is also a peer-to-peer currency, meaning that people can send Bitcoin directly to each other without the need for any financial intermediaries. This means that no intermediary takes a cut of every transaction.

Bitcoin, be it on-chain or Lightning always has transaction fees. Meanwhile some banks have zero fee transactions between their clients and clients of their partner banks.

But for very small transactions, Bitcoin is still impractical, given the transaction fees. If a solution to this problem is not found, it could open the door for other cryptocurrencies to become the "currency of Artificial Intelligence".

According to Sam Altman of OpenAI (the company behind ChatGPT), the next wave of innovation will be autonomous AI agents, and this is where Bitcoin could step in and act as a currency.


  How do you think AI will impact Bitcoin or the crypto world?

How about they build AI economy first and then we worry whether Bitcoin is suitable for it or not? Because right now it's a problem that doesn't exist, just empty talk of influencers.