A few simple prompts to a recently released AI chatbot is all Crypto Twitter needs to create trading bots, an investment thesis and a crypto-themed song.
The crypto community appears to be having a ball with ChatGPT, a recently launched Artificial Intelligence (AI) chatbot created by research company OpenAI — using it for a multitude of applications including a trading bot, a crypto blog, and even an original song.
The bot is a language interface tool that OpenAI says can interact “in a conversational way” and can be used to answer questions or assist in making almost anything it’s prompted to create, with some limitations.
A user on Twitter posted their interaction with ChatGPT showing that from a simple prompt the tool created a basic trading bot using Pine Script, a programming language used for the financial software TradingView.
Should I try running this chatGPT generated crypto trading algorithm? pic.twitter.com/0xlFoTNYdL
— Guy (@wholisticguy) December 5, 2022
Another user gave the bot instructions to create a trading terminal, with ChatGPT writing code that could display the current orders for the Bitcoin (BTC) and Tether (USDT) trading pair on Binance utilizing the crypto exchange’s Application Programming Interface (API).
Making a trading terminal pic.twitter.com/o6SIO6nMT5
— tbg (@tradertbg) December 4, 2022
Cointelegraph previously tested ChatGPT and found the tool could create an example smart contract. Meanwhile, other users discovered the AI could detect and either assist in patching or exploiting vulnerabilities in smart contracts, however, it was noted the code generated by the bot wasn’t always correct.
Crypto Twitter has not only utilized the AI tool for technical purposes but also for more creative and even business endeavors.
ChatGPT responded with a five-part answer when asked by one user what the blockchain industry needs to do “in order to positively affect society,” Twitter user “Goose Wayne” opined the bot “can write your crypto investment thesis now.”
ChatGPT can write your crypto investment thesis now pic.twitter.com/iN6uH2X1V8
— Goose Wayne (GFX) (@usgoose) December 2, 2022
The co-founder of investment firm Multicoin Capital, Kyle Samani, tweeted his results on asking ChatGPT to write a blog post on how crypto payments will grow in the future, the tool responded with a multi-paragraph article.
Planning on publishing a blog post this week about payments over crypto rails
but I guess chatGPT beat me to it pic.twitter.com/Xyg2GGq2OX
— Composability Kyle (@KyleSamani) December 4, 2022
Another lengthy opinion article was written by the AI on how Monero (XMR) “improves on Bitcoin’s technology,” with the user who posted the result opining “ChatGPT is going to put a lot of crypto bloggers out of business lol.”
Meanwhile, some Twitter users have used the tool to create music, Web3 entrepreneur Jay Azhang posted a “song about losing money in crypto” written by the bot:
— Jay A (@jay_azhang) November 30, 2022
Multiple other examples of ChatGPT’s use have been posted to Twitter, from its answers on how to choose a good crypto project, grow a Twitter audience within the nonfungible token (NFT) community, and even an email where it acts as a crypto hedge fund warning users it’s illiquid because of the collapse of FTX:
PSA for crypto fund managers: chatgpt can help you communicate with your investors pic.twitter.com/VfEz4OWf0c
— Brian Lui (@brianluidog) December 2, 2022
The tool is free for now as its “a research release” according to OpenAI CEO Sam Altman, but that may not last for long as he said 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.”