The crypto community appears to be having a good time with ChatGPT, a recently launched Artificial Intelligence (AI) chatbot formed by research firm OpenAI, which is being used for a variety of applications such as a trading bot, a crypto blog, and even an original song.

The bot is a language interface tool that, according to OpenAI, can interact in a conversational manner and can be used to answer questions or assist in the creation of almost anything it is prompted to create, with some limitations.

A Twitter user documented their interaction with ChatGPT, demonstrating how the tool generated a basic trading bot from a simple prompt using Pine Script, a programming language used by the financial software TradingView.

Another user instructed the bot to establish a trading terminal, with ChatGPT writing code to display the existing orders for the Bitcoin and Tether trading pair on Binance via the crypto exchange's application programming interface (API).

Previously, Cointelegraph tested ChatGPT and discovered that the tool could generate an example smart contract. Meanwhile, other users discovered that the AI could detect and either help or hinder the patching of vulnerabilities in smart contracts. However, it was found that the bot's generated code was only sometimes correct.

Crypto Twitter has used the AI tool not only for technical purposes but also for more creative and even commercial endeavors.

When asked what the blockchain industry requires to do to affect society positively, ChatGPT replied with a five-part answer. Twitter user Goose Wayne proposes the bot can write your crypto investment thesis.

Kyle Samani, the co-founder of investment firm Multicoin Capital, tweeted his findings after asking ChatGPT to write a blog post about how crypto payments will grow in the future, to which the tool responded with a multi-paragraph article.

Another lengthy opinion piece was written by the AI on how Monero improves on Bitcoin's technology, with the person who posted the result commenting, "ChatGPT is putting a lot of crypto bloggers out of business lol."

Meanwhile, some Twitter users have been using the tool to create music, with Web3 entrepreneur Jay Azhang posting a song about losing money in crypto written by the bot.

Several other examples of ChatGPT's use have been posted to Twitter, including its responses to questions about how to choose a good crypto project, growing a Twitter audience within the nonfungible token (NFT) community, and even an email in which it acts as a crypto hedge fund, warning users that it is illiquid due to the collapse of FTX.

According to OpenAI CEO Sam Altman, the tool is currently free because it is a research release, but that may not last long, as he stated in a Dec. 5 tweet that the costs to run the tool are eye-watering and will have to be monetized somehow at some point.

What are your thoughts on the efficacy of the new AI chatbot? Drop your comments by sharing this article on social media.

Dec 8, 2022
Digital Lifestyle

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