Topic: The Rise of GPT AI. Crypto is at risk? (Read 275 times)

I will question the abreviation of AI, in relation to the GPT chat. And I will explain
Yes, the GPT chat is not a simple search engine. Yes, she knows how to humanize, and at a high level, to conduct dialogs. And even create text/graphic works. And it even helps to write a code, and even explains why it is right to do so right
But, as always, there are nuances. "Under the hood" of the GPT chat are neural networks, a "large language model", and a huge set of structured, diverse information. If I'm not mistaken, the GPT chat was "fed" in the region of 500 TB data. After that, these data were systematized, on their basis, neural networks were trained, and then experts taught the "speak" system. Those. The system works on the basis of previously uploaded data. Yes, they will further expand the knowledge base, but it will improve linguistic skills, but it will better understand what the dialogue is about. But try to ask a question to which there is no answer. For example, proof of some kind of mathematical complex task, and better logical. Either ask to invent a new full -fledged business, or a new medicine. You will receive a beautifully formulated list of already known options or something from the series "I can’t, this is limited by the rules." Those. The system, in full, does not have what describes the very concept of intellect.
A classic description of the intelligence: the quality of the psyche, consisting of the ability to realize new situations, the ability to teach and memorize on the basis of experience, understanding and applying abstract concepts, and the use of their knowledge to manage the environment. The general ability to know and solve problems that unites cognitive abilities: sensation, perception, memory, representation, thinking, imagination.
The GPT chat has part of these "properties", but .. only part. Sensation, thinking, imagination, abstraction - this has not yet been realized

Oh yes, the author of the topic lived in a world of illusions, where a free and competitive market reigns and where only the invisible hand of the market, according to the precepts of Adam Smith, manages everything, and then hearing about GPT AI, his eyes opened and he saw a terrible threat hanging over everything. To be honest, everyone has been manipulated for a long time and artificial intelligence through trading bots by itself will not be engaged in manipulating the market and still someone from skin and bones will be behind this artificial intelligence. Therefore, you do not need to be afraid of artificial intelligence itself, but you need to be afraid of who is behind it and it's too late to be afraid of what has happened for a long time.

I think GPT is optimized more towards branch prediction and context of words and language, than it is engineering and design.

In its chat bot application it generates a number of text based responses to input. And tries to predict a correct contextual response. This poses little danger to crypto within the grand scheme of things. As there are virtually no plausible scenarios for the technology having the potential to disrupt crypto based technology. Perhaps someday GPT will advance to a point where it can communicate through audio and text to social engineering attacks on financial infrastructure. This could pose some danger as an attack vector.

However, the biggest risk AI poses to finance would be within an engineering and design role. Where AI could potentially design and engineer next generation hardware and technology with a potential to undermine or break current security safeguards. This is an area which has not yet manifested or enjoyed the same type of mainstream success which GPT has illustrated within a chat bot niche.

Trading bots and AIs aren't something new on the internet. There is a lot of talk about it right now due to the hype which was created around ChatGPT. But that is still a hype and nothing else.

Crypto market has been manipulated since the beginning by whales, so what difference does an AI make on this process? And regards trading bots, keep in mind they aren't an assurance traders are going to have profit. Many traders have already lost money using such tools.

well if you concern is this being used for trading then I guess stock market will also have the same worries but fear not it's not gonna be impactful that much mainly because we've got plenty of these already. even though they're more traditional but honestly what this AI technology could do more other than following text book trading pattern which honestly works just the same like any other same thing out there.
It won't be that much impactful, my best bet it just gonna create some fuss but then it'll just become yet another trading bots. I'd say wait until the fourth AI iteration then maybe we could see some concerning things.
otherwise it's something that should not be worried at all from my 2 cents.

Market manipulation and trading bots have been around for years. The algorithm they use just hasn't been any good so it hasn't been up for discussion. Presumably at some point it would be possible for AI to outperform some of the top traders but we're a long time out from that point, and it's not as if all risk calculation is gone.

Could crypto be at risk for market manipulation? Sure. But that risk exists today too. I wouldn't be afraid of dabbling in crypto if your only fear is AI marketing manipulation.

I am not getting your point. We can already manipulate markets, could have for a long time even with bots. And can you give me one example how AI ruins economy? Do you mean it will steal our jobs? Doesn't it just mean that people move to do other jobs like with every invention out there. Years ago we wouldn't have even dream that youtube influencers would be a job genre. There will be many other we didn't think was an option.

Isn't AI and trading bots the same? They are useful but to say that they are disruptive could be situational and that is when they totally replace the human on their jobs. That is something that didn't happen yet in trading because we traders are still the one who program the bot and then we monitor it if they are doing their jobs properly or not.

There are some flaws on AIs and that is they can experience some bugs or they can glitch sometimes. There are risks if we totally depend on them. If you are talking about its risks on crypto or if it's a threat to crypto then I think no because both of them are not the same. Cryptos are a currency but AI is about the bots and automation services.

Past result results do not guarantee future ones. Do note that it is preprogrammed according to a set of rules and conditions, hence, that static parameters are untested. The degree of profitability is yet taken into account, there is still no certainty those set of parameters combined with the near real-time data is able to give sufficient results.

Market manipulation that is based on a known preprogrammed set of rules and condition are not even can be called a manipulation. Those sets are known and are able to be widely known, thus there is no chance it could achieve as a market mover.

Like everyone already said, this is common and nothing new, maybe AI could find the most common ones, and collect data on how everyone else trades and what type of trades are done. Even could take out ALL trades ever made in an exchange by watching it, and then putting all of them in indicator data, showing what they look like, and showing data of which indicator was used the most and when people buy and when people sell the most commonly and then end up trading like that if you want to.

This is all great and definitely an improvement on what we have, but we have it, we have the bare bottoms what AI could do right now, and that's why it is not a risk at all, not even near a risk right now, can't be further away.

The introduction of automation and process management through AI: in production, IT and trading has been going on for a long time. It has also been discussed for a long time that people will lose their jobs because of this. But we should not forget that someone has to serve AI and automation. It turns out that people will not lose their jobs, just to fulfill their new duties, they will need high qualifications as service personnel. However, since the AI has been trained by humans, it will not know more than us. The market is too complex a phenomenon, and neither a human nor an AI will be able to predict what the price of bitcoin will be tomorrow.

No, True Crypto Market can't be manipulated by bots. Things have been reconfigured in such a way that a manipulation (a bad one atleast) is immediately punished that it becomes very unprofitable and dangerous to do so in the future. If they're able to move the price of a True Cryptocurrency like Bitcoin it's because the Program allowed them to do so. They are basically operating within the rules set for them else they are punished.

Currently the market is purely operating on the program and has been set to be bullish this week with little/zero chance of getting manipulated by any other program/bot.

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We are currently in a Ship surrounded by invisible enemies who desire to conquer it. Only few captains/passengers are awake doing their best to keep things moving. Wakeup and be focused.

Yeah, it can develop bots but there's still a certain logic thinking needed for the codes that these AIs will produce. You just can't put that in the compiler and expect to it that it will run 100%.

What's scarier are not the bots or the AIs but the people, real men that are around in the market that have been said to be whales. They have nothing to do with bots but they've got money to manipulate the market and if you're too worried with AIs, you should worry more about them if you don't know how they move and influence the market because they really do.

Trading bots have been used by traders for years already. AI on the other hand has been very disruptive and is being used for different situations worldwide. From making articles, to programming, to even making some research papers.

Adding AI to these trading bots might have a significant upgrade into it, but I believe there will be some flaws into it and because of it, I don't see it as a risk like other users sees it. Market manipulation is your problem? It has been happening for a long time already, and no one can stop it (at least for now). GPT AI has a long way to go. It has been there for years, but it just went popular when ChatGPT has been released. Overall, AI might be used or integrated to these trading bots, but I don't see it as a risk either. More of a benefit I guess.

Though we know that GPT Ai and the likes started trending of recent, trading bots have been around for some years now, even before bitcoin and cryptocurrencies came into existence, there have been trading bots, those of us who traded forex should know what I am talking about.
This bots have existed for long, they have only managed to advance as technology is growing, which is actually expected.

In as much as this bots continue to advance, I personally do not think they area risk or threat to cryptocurrency, maybe it is a threat to human traders that can never be as fast as the bots, but for cryptocurrency in general, they are not, and possibly will never be.

I don't think we can be afraid of anything in the near future.In my personal opinion and using GPT, it is still not perfect and makes mistakes.He copes with simple tasks without problems, and when the question is a lot of problems for him, it already becomes difficult.Yes, this is not a bad tool as an assistant, but not as an exact solution to complex tasks that a person will cope with several times better,albeit much slower.

This already exists, I sold one like this years ago, and it worked exactly like this. You would give it basically a system, tell it to buy when X happened and sell when Y happened, then put in as many pairs as you want, and then some money in your exchange, and then let it do its business. If you are a moron like me, you would pick a terrible X and Y, and make a loss from it or not even understand how to operate it. I have seen people lose thousands and thousands of dollars, I have seen people make thousands and thousands of dollars. Its not about the software, its about who uses it, if you are good, this will help you, if not then nothing can.

Bot trading has been here for many years now. But that didn't make any major difference in the market so far. And this ChatGPT AI is strong, can't deny that. But it has its own limitations. It has the power to provide the information and maybe guide you through some difficulties, but it's not strong enough to give you the final result. You'll have to do it on your own. Saying that, trading bot could increase your profits and you can be away while the bot will do your works. That doesn't mean that it could make a huge impact on the market. Not yet, but maybe in the future. And that's a long journey. I am sure people will come up with some new idea or technology to overcome this.

for sure they won't see it coming if the dev of the project is about to abandon their platform. we can't say, they are perfect and will automatically execute your trades always with profit. it still depends on how much info they have and how they are being set-up. don't treat this as the solution to your trading activities and that it has no room for error. the programming still depend on a human. so you can't say, you always have your perfect trading experience.

There is zero risk for Bitcoin from using AI trading bots. But it can be really bad for the people using them:
1) AI is prone to mistakes. A bug can make it do something stupid which can lead to you losing your funds.
2) AI can be mislead by other trading bots, it can create fake trends etc which can be abused by human traders
3) AI can be hijacked by a hacker and you never know what an army or zombie bots can do.
etc etc etc

But as a result, AI users not crypto will be the victims of this behavior.  

P.S. And yes, using ChatGPT mentioned by many in this thread is a particularly horrible idea. ChatGPT is a chat bot, not a trading bot. Using it for trading is the shortest way to getting rekt.