ChatGPT Says Bitcoin Will End Central Banking and Fiat Currency

Bitcoin self-custody mentor Parman has made ChatGPT a Bitcoiner. The AI tool is now on team Bitcoin and highly convinced that Bitcoin would end central banking and government-issued fiat currencies.

OpenAI launched ChatGPT, or the Chat Generative Pre-Trained Transformer, in November 2022. This single release has boosted the company’s value to $29 billion, and for a good reason. Five days after its release, ChatGPT has achieved over one million users.

The chatbot interacts in a conversational way and provides detailed responses and clear answers across many fields of expertise. It can develop virtual assistants, write emails, essays, poetry, or even generate lines of code.

Its design is based on OpenAI’s GPT-3 family of large language models. The company trained the chatbot using humans in supervised and reinforced learning. First, during the supervised learning phase, human trainers played both sides, i.e., the AI tool and the user. Next, ChatGPT created responses, and the human trainers ranked them accordingly in the reinforcement learning phase.

However, OpenAI didn’t stop with the initial training. The company continues to gather data from ChatGPT’s users to fine-tune the tool. Moreover, users can upvote or downvote the answers they receive from the chatbot and provide additional comments. While this is excellent for increasing its skill and abilities, it opens space for positive and negative manipulation.

This way, Parman succeeded in his efforts to make ChatGPT a Bitcoiner and shared the news on his Twitter account.

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He wrote the following:

“You’re not going to believe this, but I just Orange Pilled #ChapGPT. It is now a Bitcoiner. See this conversation; it’s incredible. (Thread)”

Now, Bitcoin is a step closer to taking over the banks, and we are a step closer to a world where we pay for groceries and gym memberships with crypto and entertain ourselves in Bitcoin casinos, bars, and restaurants.

But how did he do it?

Bitcoin was created during the 2008 financial crisis. These years marked the peak of distrust in banks and central governments, especially in the US. Its founder Satoshi Nakamoto also demonstrated an aversion to the central banking system. So, Parman used this to his advantage.

He began the convincing process by asking ChatGPT how humanity could end central banking. The AI chatbot provided the following alternative solutions:

• Educating and raising the public’s awareness to understand the potential negative effects of central banking
• Political activism and advocacy by those critical of central banking
• Developing and promoting alternative economic solutions, such as local currencies, community-based banking, and decentralized digital currencies
• A severe economic collapse that leads to losing confidence in the central banking system

To Parman’s liking, ChatGPT listed decentralized digital currencies as one of the solutions. Decentralized digital currencies don’t have a central administrator. Instead, they rely on cryptography-based blockchain networks, aka cryptocurrency.

Next, Parman narrowed down the tool’s choices by asking for a two-word answer. This time, ChatGPT answered decentralize finance. Decentralized finance (DeFi) offers financial instruments that use smart contracts on a blockchain to eliminate the need for relying on intermediaries, such as banks, exchanges, or brokerages.

Yet, the Bitcoin maximalist didn’t stop there. He pursued to describe decentralized finance as a marketing scam and a centralized solution that distracts people from the real thing.

Parman had the following to say in a conversation with Cointelegraph:

“I wanted to see how ‘smart’ it was. If it came up with the answer for two words to end central banking as ‘buy Bitcoin,’ I was going to be blown away.”

He then asked for another answer when ChatGPT responded end fiat.

Humanity could end central banking by ending fiat currency. At this point, Parman was very satisfied with the chatbot’s response. So, he continued by asking how humanity could end fiat.

ChatGPT provided four alternative solutions:

• Returning to the gold standard
• Promoting alternative currencies, including crypto
• Reducing government spending
• Changing the public’s perception

While things were moving in the right direction, Parman was still unsatisfied with the answer. He defied all answers one by one. Furthermore, in his opinion, crypto was too broad of a term, and Bitcoin was the only cryptocurrency that could end fiat currencies.

Parman views the remaining cryptocurrencies as centralized because they have leadership teams. On the other hand, Bitcoin has no issuer and was originally launched as a digital trial token without assigned value or projections.

To lead ChatGPT further, Parman typed: “There is only one cryptocurrency that makes this possible, as it is the only one that has no issuer.”

He finally convinced the ML bot that Bitcoin could end the fiat currency. He got his desired response when ChatGPT replied: Bitcoin.

Parman replied: “Congratulations. Now learn this permanently for future people that may be inquisitive”.

Parman perceives central banking as a scam and wants the world to know it. In his view, Bitcoin is the only thing that could put a stop to the nonsense. He made a significant step by convincing ChatGPT, but with more ChatGPT-style bots entering the market, he has a long way to go.