đ€ Can AI Make You Rich with Crypto Trading?
We've all seen posts claiming massive profits using AI⊠but most are probably scams, designed to lure users into paying for services or downloading suspicious software. đ
But can AI like ChatGPT really help you make money?
â No, not really.
ChatGPT is good at generating convincing text, but that doesnât mean the information is accurate. It can lead to bad decisions, especially when it predicts prices - it canât even reliably report the current price of Bitcoin, not to mention the future one! It will say whatever sounds credible!
Older models, which canât access the web, are even worse. They provide outdated information, like claiming $ADA is in the top 5 cryptos (sorry Cardano fans) or not being aware of new coins like $WIF - it confuses it Wrapped Filecoin.
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Where AI Can Be Useful:
đč Content Analysis: Upload an article or whitepaper, and ChatGPT can break it down into simpler terms or help identify suspicious claims.
đč Consultation: Discuss your investment strategy and explore alternatives. While it wonât replace a financial advisor, it can serve as a useful sounding board.
đč Learning: AI can help you understand cryptocurrency basics and technical analysis, but be cautiousâAI has a tendency to "hallucinate" and provide incorrect or fictional information.
It's important to note that while some bots labeled as "AI" execute trades based on algorithms, they are not really an AI, but a different category altogether. We will cover them in upcoming articles.
The Bottom Line: AI can be a helpful tool for learning, but itâs not a golden ticket to riches. Always do your own research and consult human experts for reliable advice.
#AI #ChatGPT #bot_trading $BTC #ScamAware
