A cryptocurrency enthusiast under the nickname Parman has taken advantage of the project. He asked ChatGPT some questions about Bitcoin’s future and got an interesting prediction. It turns out that Bitcoin’s mere existence will lead to the collapse of the traditional financial system and the disappearance of state currencies. This is the conclusion the artificial intelligence came to.

What Bitcoin’s prospects are

Parman posted his conversation with the bot on Twitter. The dialogue began with a question about how the global banking system could be done away with. ChatGPT responded by listing four factors that would lead to the collapse of bank dominance.

The first factor is improving the education of potential bank customers about the risks of working in the global financial system. One is the potential “reset” of central banks with the help of governments. ChatGPT mentioned political activism and protests as a second factor.

ChatGPT dialogue

The third factor, on the other hand, concerns the crypto market itself. Here’s how the chatbot describes it.

The development and promotion of alternative economic systems like local currencies, community-based banking and decentralised digital currencies can reduce the need for centralised banking and end the dominance of central banks.


It should be noted that the prospect of replacing fiat currencies with cryptocurrencies is not believed, as Vitalik Buterin, the creator of Etherium, stated during a podcast. Still, cryptocurrencies are a rather complex topic that goes far beyond traditional money. It is also important to note that not all blockchains are ready for mass adoption, as the same Bitcoin and Etherium networks can only handle a few transactions per second, which is certainly not enough to be used by billions of people.

Finally, with full non-custodial storage of cryptocurrencies, users are responsible for their safety. Well, losing access to private keys also means losing coins, which is something that hardly anyone wants to put up with.


ChatGPT features

Decentralized digital currencies from the bot’s answer is just about Bitcoin. BTC has no unified management body, bitcoins can be transferred anywhere in the world with internet or radio access, and the maximum supply of the main cryptocurrency is limited to 21 million coins, and it is likely to stay that way.

Finally, ChatGPT considers the fourth factor to be a serious economic collapse, during which the world’s population will lose faith in banks altogether. However, the chatbot warned that the collapse of the banking system would have “serious social and economic consequences” in any case.

Bitcoin exchange rate over the past two weeks

In addition to Bitcoin, decentralised finance, i.e. the so-called DeFi sphere, will be an important tool in the fight against banks. The term refers to a set of decentralised platforms that provide banking-type services with collateral and guarantees backed by smart contracts.

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In an interview with Cointelegraph journalists, Parman explained that he was testing ChatGPT and trying to use two-word responses to keep the conversation going. Here’s the relevant rejoinder from a BTC fan.

I wanted to see how “smart” ChatGPT was. If he comes up with a two-word answer something like “buy Bitcoin” to end central bank dominance, I’ll be shocked.

Mention of Bitcoin in ChatGPT

ChatGPT also listed steps in the dialogue that would help phase out traditional currencies. These include moving to a gold standard, promoting alternative currencies like Bitcoin, reducing government spending and changing perceptions about the fundamentals of the financial system. Parman asked ChatGPT for as short a verdict as possible and got the desired answer – Bitcoin.

At the heart of all the chatbot’s proposed changes is Bitcoin. Of course, the program is not an economic analyst, as the artificial intelligence simply associates global change with crypto. But nevertheless, even it has proved more astute than many critics of the crypto market, who still believe in myths and preconceptions about Bitcoin.


We don't think we can count on fiat replacing cryptocurrencies around the world quickly and completely - especially given the volatility of such coins and El Salvador's interim failure to invest in BTC. In addition, we should not wait for the economic collapse mentioned by the bot, because it will cause serious problems for humanity, which cryptocurrencies are unlikely to overcome.

In any case, the recognition of the first cryptocurrency by a bot is really nice. It means that the prospects for digital assets are real and compelling. And it means people can get involved with them at least as an alternative investment, for example.