Conor Grogan, a Coinbase executive, used a jailbreak application to bypass ChatGPT’s restrictions. He was able to ask the AI to predict if Bitcoin will lose 99.999% of its value and fade to irrelevancy by 2035. ChapGPT stated that there is only 15% chance that this is true, thus the prediction is false. The same scenario was also given for altcoins and it seems like the answers are leaning towards Bitcoin as the most likely survivor.
Grogan is calling the jailbreak James, and it can predict the future for any topic. It can even guess when a person might die. In case you were wondering, without jailbreak ChatGPT will refuse to give any prediction, including the value of any cryptocurrency like Bitcoin.
Below is a screenshot of the answer given by the AI.
Will Bitcoin Still Remain Valuable by 2035?
Price prediction is hard. Nobody has a crystal ball and we can make educated guesses about the possibilities. But, we do know that Bitcoin (BTC) has a finite supply of 21 million. The law of supply and demand says that any asset will increase in value if the demand outstrips the supply.
Some veteran investors are predicting that Bitcoin will continue to rise in value as time goes by. Cathie Wood, founder and CEO of Ark Invest, is confident that BTC has the potential to reach $1 million by the end of the decade. Ark Invest is looking at a low price of $258, 500 to a high of $1.48 million by 2030. We have to remember that is just potential and not to be taken as financial advice.
Other analyses like the Bitcoin stock-to-flow model, Metcalfe’s Law, and Bitcoin Rainbow Chart all point to an upward trend in BTC’s price. They all agree that crypto’s number one asset can reach new highs as the years go by. Read more about the prediction models here.
Nobody has a Crystal Ball
Unless a person has access to information from the future, nobody can confidently predict the price of any asset. If we look at ChapGPT’s response, It is not 100% confident with its answers. But of course, a lot of people from the crypto community do agree that Bitcoin is most like not to fade into irrelevance.
Satoshi Nakamoto created Bitcoin with the future in mind. He recognized the shortfalls of the current financial system and he believes that BTC will solve this. Man has been using gold for thousands of years. Doesn’t it make you wonder how long are we going to use Satoshi’s digital gold?
This article is not financial advice. It was created for educational and entertainment purposes only.
Feature image from Unsplash.
