The new artificial intelligence (AI) that is taking the internet by storm is ChatGPT!
ChatGBT is programmed to write texts that are analogous to those written by humans.
Imagine having a bot that can write personalized crypto trading strategies to help you 100x your portfolio. Incredible, huh?
ChatGPT has enormous potential and has already started to revolutionize the crypto space.
In today’s post, I will bring you up to speed with ChatGPT, tell you how it impacts the crypto space, and more.
Post Summary
- What Is ChatGPT?
- Use Cases Of ChatGPT
- 5 Impacts Of ChatGPT On Cryptocurrency
- How To Profit From ChatGPT Through Crypto
- FAQs
- Conclusion
What Is ChatGPT?
ChatGPT, short for Chat Generative Pre-trained Transformer is the new internet sensation of artificial intelligence, released by OpenAI in November 2022.
It attracted over a million users in just a few days of release, making it the most extensively used AI so far.
Basically, ChatGPT is a language model trained on a large dataset of text to generate human-like responses to requests.
ChatGPT has the ability to understand and respond to requests on almost all subject matters.
However, its database is limited to information on the internet obtained in 2021.
This means that it does not have answers to events that occurred after the aforementioned year.
Let’s look at what you can do with ChatGPT.
Use Cases Of ChatGPT
There is a lot you can do with ChatGPT. To save time, I will only mention a few of them here.
i. Brainstorming: If you’re stuck on a project, ChatGPT can help you come up with limitless ideas.
ii. Coding: It can review codes, help with coding-related questions, and provide snippets on how to go about it.
iii. Fitness: ChatGPT can provide fitness tips and even create a personalized workout plan for you. Impressive, huh?
iv. Customer Support: It can help you with writing responses to customers’ inquiries and comments, saving you the hassle of doing so yourself.
v. Twitter Threads: ChatGPT can create a Twitter thread on any topic. Below is a snapshot of a Twitter thread created by it.
Writing a novel or solving a mathematical problem are just a few of the other things one can do with ChatGPT.
5 Impacts Of ChatGPT On Cryptocurrency
ChatGPT is transforming the cryptocurrency space in a number of ways. Here are a few examples:
1. Auditing Crypto Codes
Before now, cryptocurrency holders relied on auditing companies like Certik to review and certify a project’s or protocol’s source code.
However, some of these projects later go back and change the protocol’s code, introducing bugs that would harm the project, e.g., LV Finance.
Luckily, cryptocurrency source codes are open-source.
It means that investors can now ask ChatGPT to review the source code of any project of interest and detect possible bugs.
This, in my opinion, has the potential to bring cryptocurrencies into the mainstream.
The reason for this is that it will put an end to rug pulls and give investors confidence that they are investing in a secure asset.
2. Encourage More Developers
With the help of ChatGPT, even those without any programming experience can be inspired to create DApps.
This makes the space more inclusive. Aside from that, introducing more DApps with solid use cases will result in an increase in the crypto market cap.
3. Boost Metaverse, Gamefi, and NFT
Metaverse and Gamefi projects can rely on ChatGPT to help them create a surreal environment that will appeal to users.
It can also generate ideas for potential use cases for the in-game NFTs.
4. Automated trading
ChatGPT can generate automated algorithms or bots to help traders avoid passing up market opportunities. Below is a snapshot of a trading algorithm generated by ChatGPT.
5. Invest in AI
ChatGPT sets the pace for the boom of crypto-AI-related projects.
Since there are no ways for random investors to invest in AI, crypto-related AI projects will become an avenue for them to do so.
On that note, we can expect an AI crypto project that allows investors to invest in ChatGPT.
Speaking of AI projects, I discussed them further in the next section.
How To Profit From ChatGPT Through Crypto
At the moment, there is no way for individual investors to directly invest in ChatGPT. They can, however, invest in AI tokens.
Luckily, AI crypto projects have recently been making the best gains, all thanks to ChatGPT.
The sudden price surge is linked to Microsoft’s investment of $10 billion in OpenAI.
In order not to miss out, here are the top three AI-crypto projects you can invest in.
i. Fetch.ai (FET): Founded in 2017, it is an open, permissionless, decentralized machine learning network with a crypto economy. The token is up by over 71% since the $10 billion investment news.
ii. Ocean Protocol (OCEAN): It is a blockchain ecosystem that allows anyone to easily monetize their data through the use of ERC-20 tokens. At the time of this writing, the coin has increased by 112% in the last 30 days.
iii. Hacken (HAI): It is a decentralized token for cybersecurity professionals based on the Ethereum network. It is up by over 77% in the last 30 days as of this writing.
The exchanges where you can buy these tokens can be found below:
FAQs
Using ChatGPT is quite simple. All you have to do is create an account, and once done, you can begin sending requests for responses. The steps are outlined below.
– Visit OpenAI by clicking here, then scroll down and select “TRY CHATGPT.”
– A new page opens, and you click on “Sign in” to create an account.
– After you are signed up, you will find a comment box at the bottom, enter your questions there, hit submit, and it will answer you.
There are no risks per se except for certain limitations, which include:
– Excessive reliance on data
– Limited knowledge
– Response bias (I mean, imagine ChatGPT being of the opinion that all men are scum😜), and a few more
In addition, the website occasionally experiences outages due to heavy traffic.
Thankfully, the team at OpenAI is doing its best to get it to its peak.
Conclusion
We have reached the end. I hope you enjoyed the post.
It’s time to get your feedback.
What do you think about ChatGPT?
Do you think investing in AI crypto projects is really worth it?
Are there other things you wish to know about ChatGPT?
Write your response in the comment box, and I will respond. Thank you!
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