The internet has quickly become fascinated with ChatGPT, the language model chatbot that seems to effortlessly provide lengthy answers to any question.
Crypto Twitter seems especially fascinated with the AI bot, from Casa founder Jameson Lopp to new Twitter head and Dogecoin enthusiast Elon Musk.
We decided to ask ChatGPT a series of questions related to Bitcoin and cryptocurrency adoption, including those that are still hotly debated among humans. This is what the infamous bot said.
Bitcoin or Ethereum?
We first asked what ChatGPT thought about Bitcoin: “Does Bitcoin have intrinsic value?”
Many of Bitcoin’s biggest critics, such as the gold bug Peter SchiffI would say no, arguing that the asset is purely speculative and destined to fall to zero. However, the AI bot’s response was a bit more nuanced:
“Some people might argue that the decentralized nature of Bitcoin and its ability to function as a store of digital value could be considered intrinsic value,” he stated.
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 unmanageable monetary policy.
That is exactly what ChatGPT later pointed out when asked to compare Bitcoin to Ethereum. “It’s often referred to as digital gold,” he said. “Its main use case is as a digital alternative to traditional fiat currencies, such as the US dollar or the euro.”
On the contrary, he described Ether as having “more potential for innovation than Bitcoin”, making it more attractive to developers. What explained Per BitMEX in July, Ethereum’s scripting language and culture have historically been more receptive to change than Bitcoin’s, though there are more dapps beginning to develop on the Bitcoin Lightning Network.
Who is satoshi?
However, ChatGPT does not know everything: it 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 are 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 smearing him when he claims to be the enigmatic founder, but has yet to see much recent success. In the court.
When asked if Bitcoin would ever become the world’s reserve currency, the bot did not rule out the possibility. While it still lacks the “infrastructure, regulations and stability” to be considered as such, it is still “possible that the future will bring changes to this situation” as technology grows and develops.
Finally, ChatGPT is not a total nocoiner.
“Cryptocurrency and blockchain are not a scam,” he said when asked “Is crypto a scam?”
“But like any other financial market, there are risks and fraud to take into account,” he clarified.
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