April 19, 2024
AI

Coinbase Executive Conor Grogan Finds Groundbreaking AI Feature to Predict Bizarre Crypto Price Scenarios 

Conor Grogan, Coinbase’s head of business operations, announced on Sunday that he had come across a new feature of the ChatGPT artificial intelligence (AI) tool. The feature enabled ChatGPT to calculate the probability of bizarre cryptocurrency price scenarios. Grogan shared a screenshot of the tool’s results on Twitter, which revealed that ChatGPT calculated a 15% chance of Bitcoin fading into irrelevancy by 2035, with prices falling by over 99.99%. A probability of 20% was assigned to Ethereum for the possibility of it becoming irrelevant by 2035. In comparison, the chances of Litecoin and Dogecoin approaching near-zero price levels by 2035 were estimated to be 35% and 45%, respectively. 

Grogan further revealed that he had tested the prompt used to build the tables in ChatGPT over 100 times. He claimed that ChatGPT returned very consistent numbers, with standard deviation less than 10% in most cases, and the results were directionally consistent. In a previous Tweet on March 15, Grogan revealed that the latest iteration of ChatGPT could identify security vulnerabilities in Ethereum smart contracts and provide an outline to exploit faulty contracts. 

ChatGPT is an AI language model developed by OpenAI, which is used for natural language processing. The tool can generate human-like text that can be used for various applications, such as customer service bots and virtual assistants. However, Grogan’s new discovery could open up a new field of AI research, allowing developers to create models that can predict complex scenarios with a high degree of accuracy. 

The news has caused some concern in the cryptocurrency community, with some traders worried about the accuracy of ChatGPT’s predictions. However, others have welcomed the new development, as it could provide valuable insights into the future of cryptocurrency prices. 

As of writing, Bitcoin’s trading price was $28,488, indicating a 2.99% decline over the past 24 hours. While the accuracy of ChatGPT’s predictions remains to be seen, the development of new AI tools for the cryptocurrency market is likely to continue as the industry grows and evolves. 

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