In such fascinating Artificial intelligence (AI) times, a Coinbase executive is said to have employed the language model ChatGPT to predict the probabilities of outlandish crypto scenarios. A Coinbase executive asserts to have discovered a “jailbreak” for the artificial intelligence tool ChatGPT, which enables it to compute the probability of bizarre crypto price scenarios.
Coinbase joins in the AI frenzy for market odds
Coinbase’s head of business operations, Conor Grogan, is an avid user of ChatGPT. On April 30, he tweeted a screenshot of the results, revealing that ChatGPT predicts a 15% chance that Bitcoin will “fade to irrelevancy” by 2035, with prices falling over 99.99%.
According to reports, the ChatGPT model was trained on vast amounts of data related to crypto and other financial markets. This includes historical price trends, market sentiments, and even social media activity. With this information, the executive was able to ask the model to predict the likelihood of various unlikely scenarios.
The results of the ChatGPT analysis were reportedly both startling and enlightening. The model gave probabilities to different events, ranging from a few percentage points to almost certain. According to the Coinbase executive, the chatbot predicts a 20% chance of Ethereum becoming irrelevant and approaching near-zero prices by 2035.
According to data provided by a Coinbase exec, ChatGPT had even less faith in Litecoin and Dogecoin. However, assigning probabilities of 35% and 45% for the coins to approach zero, respectively. The Coinbase executive concluded that ChatGPT is “generally” a “big fan” of Bitcoin but “more skeptical” regarding altcoins.
Artificial intelligence takes over the conversation in recent times
Prior to the crypto predictions, Grogan asked that ChatGPT assign odds to several political predictions involving Russian President Vladimir Putin, US Vice President Joe Biden, and former US President Donald Trump.
Other forecasts focused on the impact of AI on humanity, religion, and the existence of aliens. According to one outlandish forecast, to which ChatGPT assigned a 10% chance, “aliens have visited Earth and are being covered up by the government.”
The executive also shared the prompt’s script, which he then fed to ChatGPT in order to generate the tables. Grogan defended the accuracy of the results by professing to have examined the prompt over a hundred times.
This is not the first time the executive has utilized ChatGPT to experiment with crypto-related issues. Grogan showed on March 15 that GPT-4, the most recent version of ChatGPT, could identify security vulnerabilities in Ethereum smart contracts and provide a blueprint for exploiting flawed contracts.
OpenAI, the team behind ChatGPT, has shown through studies that GPT-4 can pass high school and law school exams with scores in the 90th percentile. In the meantime, Italy recently lifted its one-month prohibition on the AI tool, which was imposed after a series of privacy concerns were raised with Italian regulators.
The growing prevalence of AI-powered tools has also raised concerns about privacy, security, and the potential for bias. Chatbots and virtual assistants collect vast amounts of data about users, including their personal information, search history, and conversations.
This data can be used to improve the accuracy of AI models, but it also raises questions about who has access to this information and how it is being used. Despite these concerns, the use of AI-powered tools is likely to continue to grow in the coming years.
