With ChatGPT, a recently released Artificial Intelligence (AI) chatbot developed by research firm OpenAI, the cryptocurrency community seems to be having a blast, utilising it for a variety of purposes, including a trading bot, a crypto blog, and even an original song.
The bot is a language interface tool that, according to OpenAI, can converse “conversationally” and be used to make nearly anything that is requested of it, subject to some restrictions.
Using Pine Script, a programming language used for the financial software TradingView, a user of ChatGPT posted their interaction with the tool on Twitter, demonstrating how the technology generated a basic trading bot from a straightforward prompt.
A different user instructed the bot to build a trading terminal, and ChatGPT wrote code to show the current orders for the Bitcoin BTC.
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Tether USDT and
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trading pair on Binance using the application programming interface of the cryptocurrency exchange (API).
During a prior test, Cointelegraph discovered that ChatGPT could produce a sample smart contract. Other users noticed the AI might find weaknesses in smart contracts and either help patch them or take advantage of them. The bot’s created code wasn’t always accurate, it was noted.
Crypto Twitter has used the AI technology for not only technical but also more imaginative and even commercial goals.
When asked by a user what the blockchain industry should do “in order to positively effect society,” ChatGPT provided a five-part response. According to Twitter user “Goose Wayne,” the bot “can write your crypto investment thesis immediately.”
Kyle Samani, the co-founder of the investment firm Multicoin Capital, tweeted his findings after requesting ChatGPT to produce a blog post about how cryptocurrency payments will develop in the future. ChatGPT answered with a lengthy piece.
The AI wrote yet another lengthy opinion piece on how Monero XMR works.
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The individual who uploaded the result stated that it “improves on Bitcoin’s technology” and predicted that “ChatGPT is going to knock a lot of crypto bloggers out of business lol.”
A “tune about losing money in crypto” was tweeted by Web3 entrepreneur Jay Azhang, who has used the platform to produce music on Twitter.
There are numerous other uses for ChatGPT that have been documented on Twitter, such as its suggestions for good cryptocurrency projects, how to build a following on Twitter for the nonfungible token (NFT) community, and even an email in which it functions as a crypto hedge fund alerting users to its illiquidity due to the demise of FTX:
Sam Altman, CEO of OpenAI, stated in a tweet on December 5 that the expenditures to run the tool are “eye-watering” and will need to be monetized “somehow at some point.” For the time being, the tool is free because it is “a research release,” but that may not last for long.
