Coinbase Executive Claims AI Tool ChatGPT Predicts 15% Chance of Bitcoin Becoming Irrelevant by 2035

Coinbase's head of business operations, Conor Grogan, claims to have found a "jailbreak" for the artificial intelligence tool ChatGPT, enabling it to calculate the probability of bizarre cryptocurrency price scenarios.Grogan shared a screenshot on April 30, which showed that ChatGPT had predicted a 15% chance that Bitcoin would "fade to irrelevancy" with prices falling over 99.99% by 2035. In contrast, the chatbot assigned a 20% chance of Ether becoming irrelevant and approaching near-zero price levels by 2035. ChatGPT also attributed probabilities of 35% and 45% to Litecoin and Dogecoin going to near-zero, respectively.

Prior to the cryptocurrency predictions, Grogan asked ChatGPT to assign odds to several political predictions involving Russian President Vladimir Putin, US President Joe Biden, and former US President Donald Trump. Other predictions concerned the impact of AI on humanity, religion, and the existence of aliens. Grogan backed up the preciseness of the results by claiming to have tested out the prompt over 100 times.

Grogan experimented with crypto-related issues using ChatGPT earlier in March, showing that GPT-4 — the latest iteration of ChatGPT — could spot security vulnerabilities in Ethereum smart contracts and provide an outline to exploit faulty contracts. Studies carried out by OpenAI — the team behind ChatGPT — have shown GPT-4 to pass high school tests and law school exams with scores ranking in the 90th percentile.

Meanwhile, Italy recently lifted a ban on the AI tool after banning it for one month following a series of privacy concerns that were raised to Italian regulators.