Would the advancement in AI have any adverse effects on cryptocurrency?

BenCodie

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Quote from: Cantsay on April 19, 2023, 01:31:32 PM

They have been several threads on the forum thats has been created concerning the effect of AI on cryptocurrency so it would be better for you to check them out and I'm sure you'll find the answer/responce you're seeking.

Most of them were recently made so it would be better for you to join on the discussion there and ask your question.[/list]

All of these are different topics. AI is a relevant discussion, being an innovation like bitcoin and arguably poses positives or threats to it, so the OP is fine to make this post.

Which brings me to my reply; AI and Bitcoin's relationship will be complicated. On one hand, it poses a security threat since a much higher level of intelligence may very well find a vulnerability that we didn't. On the other hand, it may prove that bitcoin is truly resistant, and assist humans to empower themselves with both knowledge and financial sovereignty.

Time will tell.

fruktik

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Quote from: mvdheuvel1983 on June 22, 2023, 11:29:05 AM

AI is already revolutionizing cryptocurrency in many ways that we can't even imagine both now and in the future. Whether it will be positive, negative or neutral depends on who is using the AI and for what purpose. We have encountered a negative effect of AI on bitcoin's price when some images were shared online. Well, since this user @Cantsay has provided links to similar topics, you would find perfect examples and instances of AI's impact on the cryptocurrency market.

Yes, there is no doubt that AI will influence the crypto world. I can say this for sure. Everything related to speculative operations and technological trends will be 100% under some kind of power of this progressive technology. Already, some of the programmers use it for their own selfish purposes.
Well, what else did we expect? That it will work for the benefit of humanity? Yes, to some extent we will observe this, and all other options will fall on increasing the profits of those who will own such a powerful tool.

DapanasFruit

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I am sure that AI would be a very positive development for Bitcoin and the rest of cryptocurrency. In fact, I am seeing that there can be many AI platforms to be adopting cryptocurrency or have tokens of their own for the use of the general public. I see no conflict of interest here but both of them can be complimentary...that is judging by the way things are turning out so far. I am looking forward for the blockchain technology and AI to be holding hands in hands offering people many good benefits. Let's see how things can turn out to be...and I am excited on this.

Blitzboy

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Quote from: goldkingcoiner on June 22, 2023, 10:54:46 AM

Quote from: octobuzz on April 19, 2023, 04:45:18 AM

The rapid development and advancement of AI is something that everyone is aware of. AI has truly come to stay with new ideas being implemented and released by different companies.

However, I'm a bit curious on how AI would affect cryptocurrency in the nearest future. Will it be majorly positive or negative? Let's all share our thoughts on this.

I think the effect would be rather positive, just as with any new technology which brings improvement to older technology. But at the same time I cannot see how AI is going to be a largely positive force for crypto. Can we even include AI into blockchain and have it still be decentralized or will AI have to sit on the centralized sidelines as a support function of sorts for blockchain?

Decentralized AI, that will be interesting to see. Only then can we talk about crypto and AI. Until then AI remains a neat gimmick for the crypto world, like 3D TV's.

Although there may have been advancements that I have no knowledge of, so take my post with a grain of salt.

Your points raise interesting debates. To clarify, blockchain and AI arent necessarily incompatible - its all about how we merge them. Take decentralized AI as an example; federated learning allows machine learning models to learn from data across various devices while keeping it at the source. This kind of architecture could be integrated into blockchain networks without undermining the decentralization principle.

However, I find your comparison of AI in crypto to 3D TVs rather disheartening. AI has potential to do more than being a shiny new tool in the crypto world. Consider automated trading bots or fraud detection systems; these are not mere gimmicks.

Of course, the application of AI in crypto is still in its early stages, and your skepticism isnt unwarranted. But lets not hastily dismiss it as just a neat gimmick. Lets watch how the tech develops.

mvdheuvel1983

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Quote from: octobuzz on April 19, 2023, 04:45:18 AM

The rapid development and advancement of AI is something that everyone is aware of. AI has truly come to stay with new ideas being implemented and released by different companies.

However, I'm a bit curious on how AI would affect cryptocurrency in the nearest future. Will it be majorly positive or negative? Let's all share our thoughts on this.

AI is already revolutionizing cryptocurrency in many ways that we can't even imagine both now and in the future. Whether it will be positive, negative or neutral depends on who is using the AI and for what purpose. We have encountered a negative effect of AI on bitcoin's price when some images were shared online. Well, since this user @Cantsay has provided links to similar topics, you would find perfect examples and instances of AI's impact on the cryptocurrency market.

goldkingcoiner

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Quote from: octobuzz on April 19, 2023, 04:45:18 AM

The rapid development and advancement of AI is something that everyone is aware of. AI has truly come to stay with new ideas being implemented and released by different companies.

However, I'm a bit curious on how AI would affect cryptocurrency in the nearest future. Will it be majorly positive or negative? Let's all share our thoughts on this.

I think the effect would be rather positive, just as with any new technology which brings improvement to older technology. But at the same time I cannot see how AI is going to be a largely positive force for crypto. Can we even include AI into blockchain and have it still be decentralized or will AI have to sit on the centralized sidelines as a support function of sorts for blockchain?

Decentralized AI, that will be interesting to see. Only then can we talk about crypto and AI. Until then AI remains a neat gimmick for the crypto world, like 3D TV's.

Although there may have been advancements that I have no knowledge of, so take my post with a grain of salt.

justdimin

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Quote from: octobuzz on April 19, 2023, 04:45:18 AM

The rapid development and advancement of AI is something that everyone is aware of. AI has truly come to stay with new ideas being implemented and released by different companies.

However, I'm a bit curious on how AI would affect cryptocurrency in the nearest future. Will it be majorly positive or negative? Let's all share our thoughts on this.

I think it depends on the advancement level, I mean if we are talking about just a bit, then no it won't but if we are talking about actually using high levels of AI and not machine learning, then we could maybe start seeing something.

When you are using machine learning, it does learn by itself, and it even goes out and learns how to learn as well, I have used it to prepare all of my vacation for example, from train tickets to hotel to everything to see, that's good because it goes and looks for it, and learns about it, you do not teach it how to find train tickets just in case someone asks, you teach it how to find where to find train tickets and it goes finds it. We need to improve on this like 100x more and think for itself, it is not really AI if you ask it and it responds with the answer, it is AI when it asks "why do you want to do it" instead of giving you the result.

NotATether

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AI is related to Machine Learning.

Basically, any company that stands to benefit from using machine learning has already done so, even payment processing companies like Paypal, but not for their payment infrastructure, but rather to detect fraud patterns. Bitcoin and other cryptocurrency don't really have a use for predicting "trends", unless the trend to predict is how fast an epoch will be completed for block adjustment purposes.

Then again, there is no good way to store and run machine learning models in C++ so don't expect any "AI advancements" to come to cryptocurrency any time soon.

avikz

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Quote from: octobuzz on April 19, 2023, 04:45:18 AM

The rapid development and advancement of AI is something that everyone is aware of. AI has truly come to stay with new ideas being implemented and released by different companies.

However, I'm a bit curious on how AI would affect cryptocurrency in the nearest future. Will it be majorly positive or negative? Let's all share our thoughts on this.

AI is at a very nascent stage right now and the capabilities are already exceeding our imagination. So we really don't know how far it will go. The industry leaders like Elon Musk, Geoffrey Hinton even Openai CEO Sam Altman has warned us already about it's risks. It has a power beyond our imagination. So it is too early to say if cryptos will be at risk because of AI or not. But it could be.

Keep your eyes open and start using AI tools to stay ahead of your competition. It will help you to understand the trend of the market. The answer to your question is still not known.

LSDadventure

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Quote from: octobuzz on April 19, 2023, 04:45:18 AM

However, I'm a bit curious on how AI would affect cryptocurrency in the nearest future. Will it be majorly positive or negative? Let's all share our thoughts on this.

AI can help people to code stuffs and I believe AI will be able to help people to create cryptocurrency projects.

I think in both positive and negative sides of those AI-generated cryptocurrency projects. Most of them will be useless because most of people who order AI to write code and create cryptocurrency projects for them, will be likely incapable of making high quality projects with ideas to solve real problems in society. No good use cases, those projects will be useless too.

In contrast it can help developers to reduce their time for unimportant tasks and they can focus more on more important tasks. It will help them to increase their productivity in coding. I believe it is super helpful for developers.

Victorik

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AI will definitely have both positive and negative effect on crypto, but the positive effect will have more impact on crypto than the negatives. Part of the positive effect is that it will aid trading

Blitzboy

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AI, an inexorable force, collides with the unyielding crypto phenomenon. The merger promises thrills but could unleash chaos if not wisely steered. AI, with its talent for trend prediction and market assessment, can convert crypto into a safe investment bet.

Yet, we mustnt ignore the hazards. Misused AI could dictate the crypto markets, instigating financial anarchy. This dark dystopian fate looms if we're imprudent.

AI' integration with crypto presents a dangerous dichotomy. Therefore, we must tread warily. Regulation is essential to avert this integration from turning into an Orwellian nightmare.

BVeyron

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Quote from: octobuzz on April 19, 2023, 04:45:18 AM

The rapid development and advancement of AI is something that everyone is aware of. AI has truly come to stay with new ideas being implemented and released by different companies.

However, I'm a bit curious on how AI would affect cryptocurrency in the nearest future. Will it be majorly positive or negative? Let's all share our thoughts on this.

In general, AI technology is used to work with big data, so the accounts and transactions won't be affected directly in case of rapid AI development. So I think that AI can't do any harm to cryptocurrency industry, unless AI is allowed to change codes of cryptocurrencies. The use of AI in blockchain protocol development would be a real disaster...

el kaka22

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There will be good ones and there will be bad ones. Good ones is that if you use AI properly then you can build something that would be unheard of anywhere else, and put AI into crypto and when you combine those two things together you can make something that is insanely highly ranked, like at least top 10, maybe even go as high as top 5 if you do a very well rounded one.

This will be hard and it will take some time and require some world class developers to build so I do not expect it anytime soon, but when we are talking about this much money in the end, I am sure they will do it eventually. Bad one is that many projects will just put "gpt" at the end and act like they are AI when they are not just to steal your money.

Sarah Azhari

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Quote from: octobuzz on April 19, 2023, 04:45:18 AM

However, I'm a bit curious on how AI would affect cryptocurrency in the nearest future. Will it be majorly positive or negative? Let's all share our thoughts on this.

if we look at the forum here, lots of contradictions and negative debates about AI. I see several members used that technology for burst posts and cheating. So in this case, I can argue that AI is a bit negative for cryptocurrency. AI also can create programs and code that can duplicate code to make similar existing cryptocurrencies, so that might be made confusing if really the same and used the same blockchain.

Hispo

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I have already found at least one Telegram group of people being scammed their money by a company that allegedly offers the service of an artificial intelligence to execute cryptocurrency trades and take advantage of "arbitrage", generating a steady passive income.
I don't know, for now the impact I have seen the AI has on our community is being used as a concept or buzzword so scammers can deceive people to throw their money at them, being through a Ponzi or just a shitcoin ICO. Roll Eyes

So in my opinion, so far, the impact has been negative, considering the millions of dollars in personal damages that have been and will be done and nothing the victims will be able to do avoid it.

If someone wants to invest in AI, go buy stocks of technological companies working on it, why trust the your money to anonymous shitcoiners on the internet who claim to be the makers of the next industrial revolution. Huh

For God's sake.

Bananington

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Quote from: octobuzz on April 19, 2023, 04:45:18 AM

However, I'm a bit curious on how AI would affect cryptocurrency in the nearest future. Will it be majorly positive or negative? Let's all share our thoughts on this.

The effects will be both positive and negative, one identifiable effect AI will have on cryptocurrency is that it will increase the number of AI tokens and because AI is new it will experience and get the attention of many people interested in cryptocurrency, both the people who are old and the one's who have been attracted by the potential benefits of owning these tokens. The negative side is that many people will get scammed somehow in the process of trying to own some of these AI tokens.

sunsilk

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Quote from: octobuzz on April 19, 2023, 04:45:18 AM

The rapid development and advancement of AI is something that everyone is aware of. AI has truly come to stay with new ideas being implemented and released by different companies.

However, I'm a bit curious on how AI would affect cryptocurrency in the nearest future. Will it be majorly positive or negative? Let's all share our thoughts on this.

I'm only thinking of two things which has been already being done as the first thing which is all about automating the trades and we've got bots already doing that.

The next one are the projects that are related to AI, nothing that much to do with bitcoin. And if you're not getting my idea, it's about like having those bunch of meme coins being made on this craze and we shall see the next AI projects.

Odusko

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Quote from: pooya87 on April 20, 2023, 06:39:11 AM

Just like "quantum computing" the "Artificial Intelligence" is also not a magical word that can solve anything. These technologies have their limits and purposes, they can not revolutionize every other technology overnight.

Exactly, I have been trying to rob my brain around the functionality of Artificial intelligence in some sectors and one of those confusing sectors is the use of a bot in cryptocurrency or its potential service to the overall well-being of the cryptocurrency ecosystem.
Just as you have rightly said, AI has its limits and can't function in all sectors unless in some few lines where its usage can be advocated properly but I don't think there are many jobs left for AI to do in cryptocurrency unless for the pocket of few areas where artificial intelligence can be used in cryptocurrency.

ImThour

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AI will just be beneficial to the traders and the developers who are integrating it into the already existing projects related to crypto, you will never see AI being implemented in Bitcoin or Ethereum, or any other crypto asset.

About adverse effects, you are mostly talking about the negative aspect and I don't think so there will be any negative aspect of AI in crypto just like every other technology or job which might be replaced by AI in future. It will only be beneficial or advantage in the long run.

Here are all the projects which are marked as AI & Big Data on CoinMarketCap which you might want to track and see how they are impacting or getting better with AI: https://coinmarketcap.com/view/ai-big-data/

One great example from this list is Render Token. It is a Distributed GPU rendering on the blockchain which is providing GPU power and also using it for the calculations done for the creation of AI models.

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