We asked ChatGPT to buy bitcoin. This is how the bot responds

Since artificial intelligence was made available to the public in November 2022, ChatGPT has been on everyone’s lips. The state-of-the-art language model answers questions on a wide range of topics in dialogue with you.

But what kind of software is behind it? Who developed ChatGPT? And of course also: How you can use the AI ​​in trading and where can it support you in making encryption decisions?

In order to be able to answer this for you, we asked the AI ​​directly!

Here you will find in bold our question for the AI. This is followed directly by ChatGPT’s response, with comments from us in italics.

What is ChatGPT? Explained in an interview between ChatGPT and Coincierge.de

Coincierge.de: I want to write a text about you, ChatGPT. Please explain to me what exactly you are. But in simple terms so that I can understand.

GPT chat: “Yes of course! I am computer-based language modeldeveloped using artificial intelligence and machine learning.

It is my main objective with questions and inquiries to get a response from users like you and provide a useful and informative answer. I was trained to gather and analyze information from various sources to provide accurate and relevant answers.

Basically I am automated question and answer wizardwho are available 24/7 to help you!”

Let’s look at this answer: ChatGPT works with a neural network – this is a computer system based on the structure and function of the human brain.

ChatGPT was trained through numerous Internet texts, books and the like. The neural network on which the program is based not only allows it to constantly learn new things, but also to recognize relationships and patterns in the data it is based on.

This way, it can take your questions and generate the answer with the highest probability from its own training. So it is the automated question and answer wizard mentioned above. It also notes the conversation history itself and can therefore answer follow-up questions.

Coincierge.de: Who founded you and how long have you been around?

GPT chat: “I would with OpenAIartificial intelligence non-profit organization, developed and are in place from 2020.

OpenAI was created by a group of technology visionaries including Elon Musk and Sam Altmanwhich was established to promote the development of artificial intelligence and ensure that the benefits of this technology are achieved for society.

As part of that mission, I came developed as a language modelto help people find answers to their questions and problems through i with a wide range of information access and analyze them to provide useful answers.”

Ok, this answer is only almost complete: ChatGPT may be in operation since 2020, but the program was only made available to the public in November 2022. It’s still fresh on the market, so to speak. , but at the same time it. 100 million users in just two months have been reached. For now you can still use it for free under the following link.

Coincierge.de: Cool, thanks for the answer! Does that mean I can ask you anything and get an answer from you?

GPT chat: “Yes, you can ask me anything you want and iI will do my best to give you a helpful answer.

However, there are a few questions I could the information is not necessary or to have knowledge to give an accurate answer. For example, there could be issues which is very specific or technical and for which deeper expertise is required.

In such cases, I will do my best to provide a meaningful answer, but I may not be able to attend to all the details or subtleties.”

So far so good – but what can this really look like? Is ChatGPT able to provide investment advice or is this one of the above? Let’s test if and how ChatGPT can support you in trading and investing: What if we ask ChatGPT for a specific coin forecast?

Coincierge.de: Is it a good idea to buy Bitcoin now?

ChatGPT: “As an AI-based language model, I can no financial advice give or make specific recommendations for investments. It is important to note that investing in cryptocurrencies is involved significant risks linked and there is no profit guarantee. Before investing in cryptocurrencies, you should do your research thoroughly about the markets and to inform the different bases and carry out a thorough risk analysis.

About bitcoinso it is important to note that the cryptocurrency market is very volatile and that the price of bitcoin can change a lot. It is difficult to predict whether it is a good idea to buy Bitcoin now or not. Some experts believe that bitcoin may be a promising investment in the long run, while others worry that the price of bitcoin may continue to fall.

It is also important to note that Bitcoin just one of many cryptocurrencies on the market. Because there are also a variety of other coins that investors may be interested in. It is therefore advisable to conduct thorough research and perform a thorough risk analysis before investing in cryptocurrencies.”

Coincierge.de: Which cryptocurrency has a good performance?

ChatGPT: “The performance of cryptocurrencies can and can be very volatile vary greatly from day to day. It is therefore difficult to name a cryptocurrency that has consistently performed well.

However, there are some cryptocurrencies that have shown strong performance in recent years and may therefore be of interest to investors. bitcoin, the first and most famous cryptocurrencyIt has shown great performance over the past few years and is still the largest cryptocurrency by market cap. other cryptocurrencies like Ethereum, Binance Coin, Cardano, Solana, Polkadot and Chainlink Strong performance has also been shown in recent years.

However, it is important to note that a past performance is no guarantee of future profits and that the cryptocurrency markets are very volatile. Investors should always conduct thorough research and perform a careful risk analysis before investing in cryptocurrencies.”

You see: With these questions you will get no further, because ChatGPT cannot make any recommendations. Instead, the tool refers to DYR and your own due diligence process.

However, what works really well with ChatGPT is fact-based research: You can ask the tool questions about certain cryptocurrencies, common terms in the crypto industry or how the blockchain works. To compose your questions, you can follow the guidelines below.

You should note that the tool was disconnected from the internet in 2021. Therefore the current crypto news is unknown to it. Likewise like anything related to the current crypto presales I hate Inu or Fight Out – because it only knows coins created before 2021.

Coincierge.de: I want to use you to inform me about cryptocurrencies. What questions should I ask you and how should I phrase the questions to get the best answers?

ChatGPT: “To get the best answers from me, it helps clear and precise questions ask that target for the specific information you need. Here are some tips to help you formulate your questions:

1. Be specific: Ask clear and specific questions to get the information you need. Try to ask one question per message so it doesn’t become too obvious or crowded.
2. Avoid jargon: Avoid using technical terms or jargon that I don’t understand. Make your questions as simple and clear as possible.
3. Put your questions in context: Make sure I understand the context of your questions by providing background information and relevant details.
4. Be open: Be open to different perspectives and opinions that I can give you. Cryptocurrencies are a very dynamic subject and there are no absolute correct answers.
5. Ask specific questions about individual cryptocurrencies: If you have specific questions about a particular cryptocurrency, you should ask them directly for more specific answers.
6. Avoid questions with future predictions: I cannot make any predictions about the future of cryptocurrencies because there are many factors that can influence price developments.

I hope these tips help you get the best answers to your questions!”

Coincierge.de: Thanks for your tips!

GPT chat: “Very happy! I am always available to help you with any questions you have about cryptocurrencies and more. Feel free to contact me if you need further help!”

Last updated on March 9, 2023

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