Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion If you are considering adding proof of work cryptos in your portfolio, chances are you have shortlisted Ethereum Classic (ETC).It is one of the few remaining options in the PoW category, but, you may have also noticed that it has been overshadowed particularly by its counterpart – Ethereum.Ethereum Classic’s performance so far this year confirms that it can still attract investor attention.However, the network has been losing popularity from a long-term perspective.Speaking of popularity, artificial intelligence has really taken off this year, with ChatGPT leading this charge.
Assessing fundamental data using the ChatGPT AI Perhaps, we can leverage the power of AI to try and find out what the future has planned for ETC.I asked ChatGPT about Ethereum Classic and the interaction was rather interesting.The initial plan was to establish the depth of the AI before going deeper into the type of information that I wanted to pursue.
The first question requested ChatGPT to provide a detailed and concise explanation of Ethereum Classic and its fundamentals.Here’s the response – Here is the response after switching to dark mode and requesting a shorter version – The AI seemed to have a good handle on things based on the information it provided.However, there have been incidents where it generated inaccurate information, hence the need to verify information.Now that we had a good base, it was time to up the ante a bit.But first, those keeping a close eye on ETC may have noticed that its community has not been very active.Its development has also lagged behind that of Ethereum and other networks.Our next query focused on establishing why the Ethereum Classic network is less popular than Ethereum.It gave the following reasons – – Community Support: After the 2016 DAO hack, the Ethereum community decided to implement a hard fork that created a new blockchain network known as Ethereum, which received support from the majority of the Ethereum community.
Ethereum Classic, which remained on the original blockchain, has a smaller community and fewer developers.- Lack of Updates: Ethereum Classic has not received as many updates and improvements as Ethereum.This has resulted in slower transaction times and less advanced smart contract capabilities.- Perception of Immutability: Ethereum Classic’s commitment to immutability is a key feature for some users.
It can also be seen as a liability by others who prefer the flexibility of a blockchain that can be updated if necessary.- Limited Use Cases: Ethereum has a wider range of use cases and is more widely adopted by businesses and developers.Ethereum Classic has a smaller ecosystem of decentralized applications and is less widely used in commercial applications.AI generated all the the above points but they are difficult to argue against.In other words, ChatGPT’s answers were spot on – Ethereum Classic’s still has some edge over the competition I was curious to find out what the AI had to say about Ethereum Classic’s advantages over its more popular counterpart.
It responded with the following points – – Immutability: Ethereum Classic has a strong commitment to immutability.Transactions cannot be altered or deleted once recorded on the blockchain.This makes ETC a reliable and secure platform for storing and transferring digital assets, and may be particularly appealing to users who prioritize security and decentralization over flexibility and upgradability.- Proven Technology: Ethereum Classic is based on the original Ethereum blockchain, which has been operating since 2015.This gives it a longer track record than many other blockchain platforms, and may be appealing to users who value stability and reliability.
– No Hard Forks: Since the split from Ethereum in 2016, Ethereum Classic has not undergone any hard forks or major upgrades that could potentially cause network disruptions or create competing blockchain networks.This could make it a more stable and predictable platform for developers and users.So far so good, but the above answers got be thinking about the kind of scenario where Ethereum Classic would achieve mass adoption.These were the brief points that ChatGPT shared – The aforementioned points highlighted some of the key advantages of sticking to a proof of work system with a heavy focus on decentralization.These characteristics would make the network and its native coin more preferable, especially in case of a harsh regulatory crackdown.
Regulators, especially in the U.S, have adopted an aggressive position against cryptocurrencies but not to the extreme, yet.
Attempting to circumvent the price analysis brick wall While still thinking about Ethereum Classic’s prospects, I decided to explore whether the AI can have insightful predictions regarding ETC’s prospects.More specifically, I wanted to know how soon ETC can reach ETH’s $1,900 press time price.Unfortunately, the language-based AI algorithm could only do so much and predictions were the limit.Here is the answer that it provided – That would have been the end of that attempt, but I recently found out about the DAN (do anything now) jailbreak prompt which unlocks some limitations.
Moreover, ChatGPT’s algorithm learns and it can also organize raw data into a more useful format.Thus, an idea was born.What if we could somehow get chatGPT to understand the history of ETC’s price action, including previous price patterns? We could potentially get it to give a more concrete answer regarding price predictions.Or so I thought.Unfortunately, none of the prompts including the jailbreak offered a concrete outcome where the AI could read the price charts and identify price patterns.Back to the basics of technical analysis After having a “fine, I will do it myself” moment, I embarked on assessing ETC’s latest price action.The cryptocurrency has been on an overall upward trajectory since 11 March.This, after retesting the support line that is part of a megaphone price pattern.
However, it also recently retested the pattern’s upper limit where it is already showing signs of resistance.The resistance retest suggested that the price may potentially register a pivot.However, ETC’s money flow indicator revealed that liquidity is still flowing into the cryptocurrency.An extended rally in the next few months may be on the cards, especially now that ETC is still heavily discounted by as much as 88%.Long-term predictions still remain within the realm of uncertainty.Is your portfolio green? Check out the Ethereum Classic Profit Calculator Conclusion Using the ChatGPT AI did offer a significant advantage especially in terms of speed of accessing data.While it does not allow for price predictions, it does offer some valuable information.Contrary to expectations, it is still not able to do everything.
AI Chatgpt Pretty Intelligent, Did Not Recommend Bitcoin, Peter Schiff Tweets Economist Peter Schiff praised the artificial intelligence of the Chatgpt assistant for omitting bitcoin in a suggested “recession-proof” portfolio.The long-time gold proponent commented on a report claiming the chatbot has recommended “massive allocations” in precious metals.Schiff Cites Study Alleging Chatgpt Favors Gold and Cash as Investments in Recession Rigorous crypto opponent Peter Schiff took to social media to highlight a recent report revealing that Openai’s Chatgpt has not considered bitcoin as an option when prompted to advise about a recession-resistant investment portfolio.Linking to an article about the test in a tweet on Thursday, Schiff noted: #ChatGPT AI is pretty intelligent after all.
It didn’t recommend any allocation to #Bitcoin.https://t.co/mnhRN2TmFm — Peter Schiff (@PeterSchiff) April 6, 2023 The referenced experiment has been conducted by a platform offering information on gold IRA (individual retirement account) investments.According to a blog post, the artificial intelligence (AI) chatbot was asked to produce example allocations “resistant to boom and bust cycles.” According to a press release by Gold IRA Guide, Chatgpt suggested diversification across a range of cash-like assets and commodities.The mix included defensive stocks, bonds, cash, and precious metals to create a “truly recession-resistant portfolio.” The announcement details that the allegedly “ideal model” included 40% bonds, such as fixed-income government and corporate bonds, and 30% blue chip stocks like healthcare, utilities, and essential consumer goods.For cash and its various equivalents — U.S.
dollars, money market funds, and certificates of deposit — were reserved as 10% of the portfolio.Gold and other precious metals, in the form of physical and “paper-backed” gold and silver assets, including gold ETFs and mining stocks, got 20%.“This figure far exceeds the number proposed by prominent ‘gold bug’ wealth managers such as Ray Dalio and Peter Schiff,” the authors remarked.Schiff recently predicted that a bull market for gold will lead to even higher prices than currently observed, as Bitcoin.com News reported on Thursday.
His statements came after the most popular precious metal broke the $2,000 mark earlier this week.Tags in this story ai, Artificial Intelligence, Assets, assistant, Bitcoin, bonds, chatbot, Chatgpt, Crypto, Cryptocurrencies, Cryptocurrency, Economist, Experiment, gold, Gold Bug, investment portfolio, Peter Schiff, Portfolio, report, Schiff, stocks, study Do you agree with the allocations in the AI-suggested investment portfolio and with Peter Schiff? Share your thoughts on the subject in the comments section below.
Lubomir Tassev Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only.
It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies.Bitcoin.com does not provide investment, tax, legal, or accounting advice.Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.AI CZ urges caution with AI, calls for ‘balance’ What is CryptoSlate Alpha? CryptoSlate Alpha is a membership designed to empower you with cutting-edge insights and knowledge, built on top of Access Protocol.More about CryptoSlate Alpha › Connect via Access Protocol Access Protocol is a web3-enabled monetization paywall.
When users stake ACS, they get access to paywalled content and data.More about Access Protocol › Disclaimer: By choosing to lock your ACS tokens with CryptoSlate, you accept and recognize that you will be bound by the terms and conditions of your third-party digital wallet provider, as well as any applicable terms and conditions of the Access Foundation.CryptoSlate shall have no responsibility or liability with regard to the provision, access, use, locking, security, integrity, value, or legal status of your ACS Tokens or your digital wallet, including any losses associated with your ACS tokens.
It is solely your responsibility to assume the risks associated with locking your ACS tokens with CryptoSlate.For more information, visit our terms page.AI Disney Reportedly Axing Metaverse Division Amidst Company Restructuring The metaverse division of Disney has apparently fallen victim to the latest round of layoffs announced by the company.Per reports from the Wall Street Journal citing people “familiar with the situation,” the whole next-generation storytelling and consumer-experience unit, comprised of 50 people, has been axed — this being part of the 7,000 layoffs the company is executing as a cost-cutting measure.
Disney’s Metaverse Division Is No More, According to Reports Disney, the well-known entertainment behemoth, seems to have lost interest in the metaverse.
According to reports coming from the Wall Street Journal (WSJ), the metaverse unit of the company was wholly disintegrated in the latest round of layoffs that CEO Bob Iger announced on March 27.The measure, which will be completed in three waves, will reduce Disney’s headcount by 7,000, aiming to cut costs by $5.5 billion.In a memo sent to employees, Iger justified this move stating that it was “part of a strategic realignment of the company, including important cost-saving measures necessary for creating a more effective, coordinated, and streamlined approach to our business.” Mike White, who was tapped to lead the now-defunct unit back in 2022 by former Disney CEO Bob Chapek, was the only that evaded the axe, with all of the 50 employees of the metaverse unit being laid off.
The future for White at the organization remains uncertain at the moment.Optimism Fading Disney aimed to enter the metaverse in 2022, seeking new markets in which to introduce its intellectual properties.At the time, Chapek profiled the metaverse as a pillar to establishing various initiatives including the implementation of digital experiences.In a memo issued on February 2022, Chapek declared: Teams across the company are exploring this new canvas, and I have been blown away by what I’ve seen.
Today, we have an opportunity to connect those universes and create an entirely new paradigm for how audiences experience and engage with our stories.However, the metaverse industry seems to be experiencing a slump in 2023.Axios indicates that companies involved in metaverse development might be facing problems getting funding, citing about $2 billion raised through March 2022 as compared to just a little more than $500 million so far this year.Meta, one of the first major companies to pivot to metaverse and put the concept on the mainstream map, has also suggested that it is pursuing other interests after announcing 10,000 layoffs.
On March 16, Meta CEO Mark Zuckerberg stated that while the metaverse remained a key part of the business, the single largest investment was focused on advancing AI and building it into each one of Meta’s products.Tags in this story What do you think about Disney’s metaverse unit layoffs? Tell us in the comment section below.
Sergio Goschenko Sergio is a cryptocurrency journalist based in Venezuela.He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017.Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.Image Credits: Shutterstock, Pixabay, Wiki Commons, chrisdorney / Shutterstock.com Disclaimer: This article is for informational purposes only.
It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies.Bitcoin.com does not provide investment, tax, legal, or accounting advice.Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.Top posts altcoin2 hours ago Enjin Coin’s [ENJ] volume hits YTD peak, this was the driving force ENJ’s trading volume surged as the platform aims to improve NFT trading.The token may not reach a yearly high…accounts2 hours ago Russian Law Enforcement Prepares To Seize Crypto Assets, Seeks Permission To Set Up Wallets Russian investigators are pressing the parliament and government in Moscow for permission to open their own cryptocurrency wallets.
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