Artificial intelligence has taken a clear stance in the debate over which asset is more worthwhile: bitcoin or gold. Peter Schiff, an American financial commentator, praised the abilities of artificial intelligence for the answer it generated, which favored gold.
In a recent tweet, Schiff wrote: "Artificial intelligence is pretty smart. It didn't recommend investing in bitcoin."
Schiff was referring to a report published last week that talked about what ChatGPT had said about the composition of its investment portfolio for recession protection. The document claimed that ChatGPT had recommended that 20% of its investment portfolio be allocated to gold and other precious metals in order to minimize the effects of any downturn in the market.
The rest of this hypothetical portfolio was in bonds (40%), "protective" stocks (30%) and cash (10%). That is, bitcoins were out of the question.
However, when the news resource Decrypt asked directly whether to buy gold or bitcoin, ChatGPT answered the following: the answer would depend on the specific goals of the investment. The rest of the answer was, "Gold is a physical asset that is considered a safe investment in an economically volatile environment. Gold is a scarce resource, difficult and expensive to mine, which means it has some intrinsic value."
Artificial intelligence compared gold to bitcoin, noting that the latter is "not backed by any physical asset or guarantee from the authorities," and "many consider it a speculative asset.
Further, the artificial intelligence reported this about gold: "Gold is suitable for those looking for stable, long-term assets, while bitcoin may appeal to those who want high-risk, high-return assets."
It should also be noted that the body of knowledge on which ChatGPT operates is only valid until 2021, and probably does not take into account the significant volatility of bitcoin since then.
Gold and bitcoin are rising in value this year, up 7 percent and 40 percent, respectively. The precious metal has broken through a multi-year resistance level of $2,000 an ounce, which Schiff believes is the basis for a further rally.
Gold and bitcoin are often compared in terms of their monetary characteristics, particularly scarcity, which theoretically makes them resistant to inflation or the depreciation of paper money. Both assets surged in value in March after the Fed bailed out Silicon Valley bank depositors by injecting hundreds of billions of dollars into the banking system to prevent such bankruptcies.
Website : https://gold.storage/
Whitepaper: https://gold.storage/wp.pdf
Follow us on social media:
Telegram: https://t.me/digitalgoldcoin
Steemit: https://steemit.com/@digitalgoldcoin