New ChatGPT for Bitcoin should make small investors rich

Once we lose our job due to artificial intelligence, we can retire immediately. Because thanks to a new bot from ChatGPT, small Bitcoin investors will be able to rival the biggest investment firms in the future. At least, that is the intention of Satoshi, the crypto tool under development at FalconX.

FalconX is an American crypto trading platform from Silicon Valley that wants to stay ahead of the competition with machine learning. The company’s CEO learned the ropes of the AI ​​trade at Google for 2.5 years, in the team of the current boss of the tech giant. Like all trading platforms FalconX already uses machine learning to solve complex processes at lightning speed. But a ChatGPT bot that allows small crypto-fish to surf the waves of large whales is new.

Satoshi: ChatGPT for crypto investors

Although Satoshi – named after the supposed inventor of Bitcoin – is still in its infancy, the first steps towards a working product have been taken. The project has been in development for some time, but only had a breakthrough after help from OpenAI, the company behind ChatGPT.

At Forbes FalconX’s CEO stated that 90 percent of all crypto trading comes from just 10 percent of the number of investors. Mainly large investment firms with armies of traders and full arsenals of trading algorithms determine the price of Bitcoin and other currencies. Small players are almost always the plaything of this. The strategies of this whales are often the same, however, the trick is to predict when they will be applied.

This will happen in three ways. First, Satoshi can map all relevant news and information across traditional and social media to provide briefings focused on a crypto trader’s interests or investments. The new AI service will be able to answer questions such as ‘How has my portfolio performed in the past 24 hours?’ or ‘Who are the three biggest influencers on a certain crypto-currency and what do they say?’. So much for the already functional stage of Satoshi.

“How much does a short position of 1,000 euros cost on Bitcoin?”

The next step is the implementation of market advice and trading strategies. The user will be able to ask ‘How much will it cost me to take a short position of EUR 1,000 on Bitcoin?’. The last phase is actually adding buy/sell buttons in Satoshi. This way, the future, young retired Bitcoin king can immediately implement the right strategies.

When FalconX’s ChatGPT bot will see the light is not yet known, but since the collaboration with OpenAI, the development of the tool is said to have accelerated. Still, just to be sure, check again which countries are the best to retire these days.