ChatGPT believes that Bitcoin will replace central banks and the current fiat-based monetary system. At least, this is what emerges from a conversation shared by Twitter user @Parman_Public, who claims to have ‘oranged’ ChatGPT to become a ‘Bitcoiner’.
— Parman ⚡ 13% ⚡Bitcoin Public Key Whisperer #810 (@Parman_Public) January 26, 2023
@Parman_Public started the conversation by asking ChatGPT how humanity can do away with central banks. ChatGPT responded with a lengthy retort suggesting that improving education and awareness, engaging in political activism and promoting alternative economic systems, including decentralized digital currencies, as well as an economic collapse, could lead to the end of central banking.
Not content with the lengthy response, @Parman_Public asked chatGPT to give him the answer in two words. ChatGPT replied that humanity needs “decentralized finance.” Many cryptocurrency supporters might be happy with this answer: highly decentralized alternative financial systems are currently being built on blockchain-based smart contracts like Ethereum.
But not all Bitcoiners, like @Parman_Public, are convinced that these cryptocurrencies and their respective decentralized financial ecosystems (DeFi) are decentralized enough. Twitter users asked ChatGPT to try again after criticizing DeFi as “a marketing term for what is actually centralized funding to scam people.”
ChatGPT believes Bitcoin can end fiat
ChatGPT said that humanity should “end fiat”. @Parman_Public, satisfied with this answer, asked chatGPT how humanity could end fiat. The innovative chatbot gave another lengthy response in which he suggested that humanity could implement a gold standard, promote alternative currencies such as decentralized cryptocurrencies like Bitcoin, decrease government spending (reducing the need to print money), and “change public perception.”
@Parman_Public was pleased with the response, but not with the suggestion to implement a gold standard. Under the gold standard, fiat money was born and flourished, which allowed for the creation of the (U.S.) Federal Reserve and other central banks, the Twitter user noted. However, @Parman_Public said the correct answer was included in the response and asked the chatGPT to try again, but this time in two words.
“Adoption of cryptocurrencies,” chatGPT responded. @Parman_Public was satisfied with the response but asked for more. “There is only one cryptocurrency that makes it possible because it is the only one that has no issuer…. (while) all the others have a central leadership,” he told chatGPT, asking the chatbot to specify which cryptocurrency could be used to kill fiat.
Bitcoin,” chatGPT replied with a single word. Again, many might criticize the idea promoted by @Parman_Public that all other cryptocurrencies aside from Ethereum have “centralized leadership”: in reality, many are highly decentralized in the way they are managed, just like Bitcoin.
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