ChatGPT Predicts Bitcoin’s Future; Is Bitcoin Going To Replace Fiat Money?

ChatGPT, an AI-based program, is frequently used by people to start conversations. For conversational human interaction, the chatbot’s creator modifies its language-based model. However, this also signifies the death of fiat currency.

ChatGPT’s prediction on Bitcoin

Parman, a teacher, and author in the field of Bitcoin predicted to ChatGPT that the emergence of Bitcoin (BTC) would be followed by a phase-out of government-issued fiat currencies. However, he reported this through a series of tweets.

When Parman explained the reasons for his prediction, he incited a spirited debate. He started by asking ChatGPT how humanity might put an end to central banking. The genesis block of Bitcoin was created in the wake of the 2008 global financial crisis. It had an inscription that read, “Chancellor on the brink of a second bailout for banks.” However, it possibly indicates the founder Satoshi Nakamoto’s opposition to centralized banking.

Also Read: Crypto Vs Fiat Money: Is Crypto Better Than Fiat And What’s Difference?

ChatGPT Notices the Emergence of Blockchain

Then, ChatGPT identified the development of blockchain technology as the system that would transform the world’s financial systems. However, it also put an end to central banking. As users would no longer be dependent on centralized banking systems, ChatGPT emphasized how Bitcoin had the potential to give people control over their finances.

As a committed supporter of Bitcoin, Parman informed the AI that DeFi was essentially centralized finance disguised as a decentralized system in order to deceive people. He asked it to conduct additional research. In response, ChatGPT declared the shutdown of fiat currency. Parman makes a reference to Bitcoin’s early days when it was just a digital currency with no real-world value. However, even without a promise of value. The remaining cryptocurrencies, in contrast, “have governing groups and are therefore centralized,” he observes.

Bitcoin will transform banks.

After that, ChatGPT added that Bitcoin might eventually let people become their own banks as a way to round out its analysis. Since it relies on an unreliable system, fiat is not necessary. The assertion that government-issued money will eventually disappear is audacious. It is still unclear, though, whether Bitcoin will actually have the revolutionary impact for which it is hailed.

Also Read: The Sandbox Game: Discover SAND Metaverse; Play and Earn NFT Rewards