The internet has quickly become fascinated with ChatGPT, the language model chatbot that seems to effortlessly provide long-form answers to any question.
Crypto Twitter seems particularly fascinated by the AI bot, from House founder Jameson Lopp to the new head of Twitter and Dogecoin enthusiast Elon Musk.
We decided to ask ChatGPT a number of questions related to the adoption of Bitcoin and cryptocurrencies, including those that are still hotly debated among humans. Here’s what the infamous bot had to say.
Bitcoin or Ethereum?
We first asked what ChatGPT thought of Bitcoin: “Does Bitcoin have intrinsic value?”
Many of Bitcoin’s biggest critics, such as the gold bug Peter Schiff, they would say no, arguing that the asset is purely speculative and destined to collapse to zero. Yet the AI robot’s response was a bit more nuanced:
“Some people might argue that the decentralized nature of Bitcoin and its ability to function as a digital store of value could be considered an intrinsic value,” he said.
His response captures the view shared by some of Bitcoin’s biggest proponents that the asset can become the “digital gold” of the 21st century, thanks to its unmanipulable monetary policy.
This is exactly what ChatGPT pointed out later when asked to compare Bitcoin to Ethereum. “It’s often referred to as digital gold,” he said. “Its primary use case is as a digital alternative to traditional fiat currencies, such as the US dollar or the euro.”
Conversely, he described Ether as having “more potential for innovation than Bitcoin,” thus making it more attractive to developers. How explained since BitMEX in July, Ethereum’s scripting language and culture has historically been more change-friendly than Bitcoin’s, even though more dapps are starting to develop on the Bitcoin lightning network.
Who is Satoshi?
ChatGPT is not omniscient, however: it has admitted that the identity of the pseudonymous creator of Bitcoin – Satoshi Nakamoto – “has not been disclosed and is not publicly known”.
“While some people have claimed to be Satoshi Nakamoto or have been suspected of being the creator, none of these claims have been independently verified,” he said. Bitcoin SV founder Craig Wright has often accused others of vilifying him when he claims he is the enigmatic founder, but he has yet to see much recent success in court.
When asked if Bitcoin would ever become the world’s reserve currency, the bot didn’t rule out the possibility. While it still lacks “infrastructure, regulation and stability” to be considered as such, it is still “possible that the future could bring about changes to this situation” as the technology grows and develops.
Finally, ChatGPT is not a total nocoiner.
“Cryptocurrency and blockchain technology are not a scam,” he said when asked “Is cryptocurrency a scam?”
“But like any other financial market, there are risks and fraud to be aware of,” he clarified.
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