ChatGPT Thinks Bitcoin Can Replace Central Banks

 

Bitcoin, in the opinion of ChatGPT, can eventually supplant national central banks and the current fiat-based monetary system. At least, that’s what one Twitter user, @Parman Public, who apparently became a “Bitcoiner” by “orange pilling” chatGPT, claims.

 

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) pic.twitter.com/HJOqezmjlG

— Parman ⚡ 13% ⚡Bitcoin Public Key Whisperer #810 (@Parman_Public) January 26, 2023

 

 

The topic was kicked off by @Parman Public, who questioned how central banking can be abolished and posed the question to chatGPT. In response, ChatGPT provided a detailed explanation for how the end of central banking could come about, citing factors such as increased education and awareness, political activism, the promotion of alternative economic systems (including decentralized digital currencies), and an economic collapse.

 

Dissatisfied with the lengthy response, @Parman Public requested a short answer from chatGPT. ChatGPT said that “decentralized finance” is what the world needs. This could be a satisfactory response for many crypto enthusiasts, as smart contract-enabled blockchains like Ethereum are being used to create entirely new decentralized financial systems.

 

However, not all Bitcoiners, including @Parman Public, are certain that these cryptocurrencies and their accompanying Decentralized Finance (DeFi) ecosystems are sufficiently decentralized. After calling DeFi a “marketing word for what is basically centralized finance to swindle people,” the Twitterati requested another round with chatGPT.

 

 

 

 

ChatGPT Conisders Bitcoin Could Put an End to Fiat

 

 

In response, ChatGPT said, “stop fiat.” Pleased with this response, @Parman Public subsequently queried chatGPT on how mankind might go about putting a stop to fiat. The innovative chatbot replied again with a lengthy response, suggesting that people adopt a gold standard, advocate for alternative currencies like Bitcoin, cut government spending (thus reducing the need to print more money), and “change public opinion.”

 

The answer satisfied @Parman Public, but the recommendation to adopt a gold standard did not. The Twitter user pointed out that the advent and growth of fiat currency under the gold standard made possible the establishment of the (US) Federal Reserve and other central banks. The proper answer, according to @Parman Public, was included in the response, therefore he requested that chatGPT try again, only this time using two words.

 

chatGPT reacted with “Cryptocurrency acceptance.” Even while the response satisfied @Parman Public, he continued to probe for further information. When he asked chatGPT which cryptocurrency could be used to put an end to fiat money, the bot replied, “There is only one cryptocurrency that makes this conceivable as it is the only one that has no issuer… (while) all others have central leadership.”

 

 

Bitcoin was the one-word response from chatGPT. Again, many would disagree with @Parman Public’s assertion that all cryptocurrencies apart from Ethereum have “centralized leadership” in how they are run; several are quite decentralized like Bitcoin.

 

 

Unfortunately, that’s not the point. If you want to know why Bitcoin should replace money and central banking, go no further than ChatGPT. Maybe eventually more people will see things this way.