Will Bitcoin actually Kill Fiat Currency? ChatGPT Answers

  • ChatGPT, an AI bot, talks about Bitcoin

  • The bot says, Bitcoin might kill fiat currency

28 Jan 2023 By: Shikha Jha
Will Bitcoin actuall

A Bitcoin mentor was able to convince ChatGPT, an AI chatbot, 

that Bitcoin would kill fiat currency.

ChatGPT is a powerful new tool for artificial intelligence (AI) that can solve problems, do advanced coding, answer complicated questions, and now spell out the end of fiat currencies.

Parman, a Bitcoin self-custody mentor and writer, told ChatGPT that Bitcoin would put an end to government-issued fiat currencies and then posted the results in a Twitter thread.

Parman said that he "orange-pilled" the bot, or taught it about Bitcoin, and that the machine learning tool "is now a Bitcoiner."

The process was easy to follow. First, Parman asked ChatGPT how central banking could be ended. After all, Bitcoin was created in the wake of the 2008 financial crisis, and in the genesis block are the words "Chancellor on the brink of second bailout for banks," which may show Satoshi Nakamoto's dislike of central banks.

ChatGPT says that "decentralized digital currencies," which sound a lot like Bitcoin, could be one way to end central banking. Parman tells the bot to answer the question in two words, and it says "decentralize finance." In other words, DeFi could lead to the end of central banking.

A Bitcoin maximalist named Parman told the bot that DeFi is a "marketing term for what is actually centralized finance to scam people" and asked it to look into it more. ChatGPT replied, "End fiat."

Parman mentioned that he was testing ChatGPT and trying to move the conversation along by giving two-word answers.

Parman was happy with the answer that ending fiat would bring down central banking, so he moved on to the question of how.

How can we get rid of fiat money?

ChatGPT listed four options: going back to a gold standard, promoting alternative currencies like Bitcoin, cutting government spending, and changing how people see the government. The AI bot was getting close, but Parman is a Bitcoin orange-piller and educator who doesn't give up.

The machine learning tool now knew that using crypto could mean the end of fiat, but Parman doesn't think crypto is the answer. "This is only possible with one cryptocurrency, because it is the only one that has no issuer," he typed.

When Bitcoin was first mined, it was a digital trial, an experiment with a digital token that didn't have any value and didn't promise to have any value. Parman explained that "all other cryptocurrencies have leadership teams and are, therefore, centralized."

So, which he questioned, ChatGPT, Bitcoin, or crypto?

Bitcoin, said the robot.

Parman had been able to convince a machine learning bot that Bitcoin could make fiat currency obsolete.

Lastly Parman said, "With the powerful ChatGPT bot on team Bitcoin, maybe the world will get a little closer to realizing that."