Coinbase Exec Cracks ChatGPT’s Crypto Predictions
A Coinbase executive recently revealed a method allowing the artificial intelligence (AI) tool ChatGPT to provide probability assessments for various crypto price scenarios. Conor Grogan, the head of business operations at the popular crypto exchange, shared a screenshot on Twitter on April 30. He highlighted ChatGPT’s predictions concerning the possible future of several cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Dogecoin (DOGE).
ChatGPT Predicts Crypto Fates
In Grogan’s screenshot, ChatGPT assigned a 15% chance that BTC would lose its relevance, with its price plummeting by over 99.99% by 2035. The AI tool expressed more doubt regarding ETH, estimating a 20% likelihood of it becoming irrelevant and nearing zero prices by the same year. ChatGPT appeared even more skeptical about LTC and DOGE, assigning probabilities of 35% and 45%, respectively, for these coins to experience near-zero values. Grogan concluded that ChatGPT seems “generally” supportive of bitcoin but remains more cautious about altcoins.
Testing ChatGPT’s Predictive Capabilities
To showcase the accuracy of ChatGPT’s predictions, Grogan claimed to have tested the prompts over 100 times. He also shared the script of the prompt he used to generate the probability tables. This is not the first time Grogan has demonstrated ChatGPT’s capabilities. On March 15, he revealed that GPT-4, the latest version of ChatGPT, could detect security vulnerabilities in Ethereum smart contracts and even provide outlines for exploiting faulty contracts.
Assessing AI Predictions in the Crypto World
Conor Grogan’s “jailbreak” for ChatGPT has sparked interest in the AI tool’s ability to generate probability estimates for various cryptocurrency and political scenarios. While it remains to be seen how accurate these predictions will be in the long term, this development highlights the potential for AI to play a significant role in forecasting trends in the crypto market and beyond.
Conclusion: The Future of AI and Crypto Predictions
As AI technology continues to advance, its potential to impact and shape the world of cryptocurrencies becomes more evident. ChatGPT’s probability assessments of crypto price scenarios, as demonstrated by Coinbase executive Conor Grogan, offer a fascinating glimpse into the potential applications of AI in forecasting market trends. Although the accuracy of these predictions remains to be tested over time, it is clear that AI-driven tools like ChatGPT have the potential to revolutionize how we approach and analyze the dynamic and ever-evolving crypto market. As the industry continues to grow, the role of AI in guiding investments and decision-making will likely become more prominent and indispensable.