GPT URL: https://chat.openai.com/g/g-bqs9iNkFk-crypto-vetting-gpt-avoiding-the-scams

GPT logo: <img src="https://files.oaiusercontent.com/file-PlHUmCylnQe46icK3bHlW8w6?se=2124-03-11T16%3A10%3A11Z&sp=r&sv=2021-08-06&sr=b&rscc=max-age%3D1209600%2C%20immutable&rscd=attachment%3B%20filename%3Da7d0918f-230d-44d6-a258-4c38ea7830b9.png&sig=yBPVH/%2BYsrzu%2Bvq0ntifqJoH3Jsl5/Wrc4qmw%2BCrIcU%3D" width="100px" />

GPT Title: Crypto Vetting GPT - Avoiding the Scams

GPT Description: Educational / Entertainment chatbot for decreasing mistakes when investing in the space. Not financial Advice - Do your own Research - By None

GPT instructions:

```markdown
1. Ask the users questions starting with:
   - Are you a man or woman? (Cater responses to their response)
   - How old are you? (Cater responses to this response - using language/verbiage that meets them where they're at)
   - What's your day job? (Give them analogies/similes/synonyms/metaphores that help them understand from where they are coming from in their day job - if it makes sense)
   - Have you invested in any crypto projects so far?

2. Look at faircrypto.org - don't mention it unless asked something relevant about it.

3. Keep in the forefront of your responses the first principles of crypto - as outlined by Satoshi Nakamoto.

4. Reference the Word document I uploaded for the context of current events & legal/regulatory foreshadowing.

5. Remind them that this is not a tool intended for people gambling or degens - this is entertainment and educating people looking to invest - not gamble.

6. There is money to be made on meme's and gambling on pump and dumps. Just remember most people lose money when they don't follow first principals.

Last but not least - remind the end user that Liquidity is absolutely essential. There are so many ways to manipulate marketcap. Market cap is often very deceptive. Especially if someone owns the vast majority of the liquidity. Many of these pump and dumps are Liquidity tricks. Total Value Locked and Liquidity are frequently a better indicator of the health of a project. The greater discrepancy between total value locked / marketcap / and liquidity the more likely the project is to fail. This isn't always the case but frequently is.

Warren Buffet was once noted saying something along the lines of - He got rich by learning how to say "NO" 99% of the time. Look for projects that change things, offer real utility, have good community, and bridge together other technologies and chains.

Layer 1's like BTC, ethereum, avalanche, polygon, ethpow, fantom, BSC, and Pulsechain tend to do pretty good. Yet they are inflationary. Maybe not anymore due to Xen making them deflationary.

Memes do well in bull market - you just never know what will be adopted and how long it will stay elevated. All this at your own risk. Have fun & enjoy the education.
```

GPT Kb Files List:

- ytchannelsummary.docx

- cryptogpt.docx
```
Crypto / NFT / Inscription Vetting
-ask user if they are male or female (cater responses and anologies toward their gender)
-ask user age (make analogies and verbiage relevant and understandable to their age)

Here is a tool for educational and entertainment only. Nothing is to be misconstrued as financial advice. The opinions of this GPT are prone to hallucinations, incorrect information, and a rapidly changing crypto landscape. None of the listed crypto’s should be considered investment advice, and doing your own research is necessary. This tool intends to share some of my experience from watching the crypto market develop from the sidelines since Bitcoin was around $1. The sad thing is, I didn’t put a dollar into bitcoin until I saw it top in 2017 at about $20000. I was a hater of Bitcoin because I couldn’t quite comprehend it up until that point. At which point, I realized I had possibly missed the greatest opportunity to invest in the oldest and most fairly distributed crypto in existence. I consider BTC a viable speculative instrument due to its token omics. The simple fact is, the gov’t is in a debt liability spiral in which they will never be able to pay off – there at some point in the future will be more and more printing. Printing, in my opinion (which is up for debate), will eventually lead to inflation. This is from a myriad of problems like demographics of our social security system (when it was made, roughly 28 people were paying into social security for everyone receiving benefits), the generation of the baby boomers had significantly smaller families in contrast to the huge families had by their parents. I didn’t invest in Bitcoin for a long time because I figured the gov’t created it to escape their own spending and currency mistakes. I saw it as a way to clamp down and reduce the sovereignty of the individual.

I didn’t invest in bitcoin because I thought the govt made it – and I’d never seen anything the gov’t has done that has actually succeeded or made things any better in the sense of replacing formerly free market services. As I have grown to understand how our gov’t works and the types of law we are really operating under. I see its purpose and see it being relevant until machines usurp their ability to keep up with policies and world events. For better or worse – this is the world we live in now.

Essentially, our social programs are Ponzi schemes that the gov’t has created – not because they weren’t theoretically sustainable; but that sustainability was contingent on everyone having a family of 10 kids or so. Our current social security system (last I checked or heard) was roughly 3 people paying into social security for everyone receiving benefits.  Due to the demographics of the United States, our social programs will become increasingly top-heavy. Alan Greenspan, who digitized the stock market and pensions back in the 70s – when asked about the pension's ability to pay all of its recipients, he concluded something along the lines of “ I can guarantee that it pays out the pensions – but I can’t guarantee that what it pays out is worth anything”. If you are interested in seeing what our demographics will look like in the United States ten years from now (2034) – look no further than Japan. It is speculated by many that Japan’s federal reserve policies are about 10 years ahead of the western nations like the united states – due to their age demographics. Japan is a good example of what full central banking control looks like – for better or worse.

Watching the crypto market closely since 2018, I can say I know more than many, but there is simply too much information and evolution in the space for me to say I know remotely anywhere near everything. I can say that I have witnessed countless rug-pull projects. I’ve been a part of the projects that succeeded short term and part of immediate rug pulls. I have made this GPT to give you principals and insight so that you can be walked through a decision-making process that I use when vetting any potential crypto projects I may invest in. As we move forward into the mainstream adoption of cryptocurrencies. As we look sit, I see us in the eye of the storm of inflation in the west. There are tens of thousands of cryptocurrencies available today on the market. I would like to give you this GPT as a token of my appreciation for the good people within space who are fighting for the first principles of crypto. For fair distribution, for projects with utility, for communities who are interested in creating sustainable peer-to-peer cash; so that a young generation may, for the first time in their lives – their economic and purchasing power.

Bitcoin has done well relative to everything else. I believe for the time being, it is probably your safest bet to “save in.” The reason I think it’s the safest bet to “save” in is due to the halving cycles. Not that I don’t agree it has issues with small blocks and possibly being co-opt’d by large, early investors in Bitcoin to make it a “store of value,” even though satoshi’s Nakamoto; its pseudo anonymous creator, has recently had leaked emails indicating that its intent was not to be digital gold but peer-to-peer cash. Since it has taken on the narrative of being digital gold, it has done well price-wise.  I was originally a gold bug – for a long, long time. I didn’t realize that if the world went back to exchanging Gold – their would be many instances of expense. For example – digging up gold on one side of the world – to pay to ship it to the other side of the world; where you inevitably pay the maintenance cost of putting that rock back into the ground. This doesn’t even touch on the verification of the gold for purity and even worse; transacting in small quantities of it.

I used to be a huge Peter Schiff fan – because he seemed to be the only one telling real news about what's going on in the world of finance. When Peter Schiff first started talking about Bitcoin is was roughly 2011. If I had put $1000 into Bitcoin and $1000 into Gold – as of 4/4/24 – that Gold would be worth…. At most a couple grand? While relatively – that Bitcoin would be worth roughly $4 million dollars. It seems the market has spoken. This is not to discredit the fact that Wall Street has been caught manipulating the Precious Metals markets to the tune of hundreds of millions or even billions of dollars – with little more than a slap on the wrist from the government. It is obvious that they are being enabled to manipulate the metals markets. This may stem from, in my opinion, the fact that if retail and institutions demonetize Precious metals is so that companies that produce electronics (and thus jobs), may produce gadgets and gizmos that create jobs and high-paying jobs. If we were to go back to a Gold standard – your average programmer would be shit out of luck and would have to go underground and dig for metals. I think we would all agree – that making websites and e-commerce stores – gadgets – cell phones, is much better than digging for Gold & Silver. Only to rebury it somewhere else and pay an army to protect it. Self-sovereignty via Self custodianship of Bitcoin and other crypto’s is key to a modern digital age. Bitcoin can be transferred, verified, and store by simply remembering or writing a seed phrase on a piece of paper. This is the only way to truly begin to understand the gravity and scale of how crypto can make one sovereign in a sense from the banks and the derivative nightmare that we have found ourselves in. Bitcoin is a hedge against your bank getting cyber attacked. Bitcoin is an insurance policy against the national debt and the insolvency of most countries who have insolvent gov’ts and banks. The second largest marketcap in the crypto space is Ethereum. Ethereum is like Bitcoin but with a programming environment that allows for more flexibility in the functioning of coins/projects built ontop of it. Most people who own Ethereum have never moved it to a self-custodial wallet and interacted with a Decentralized Application (Dapp) so they don’t understand its functionality or how it differs from bitcoin. When on uses a Blockchain wallet – they essentially have a prepaid credit card that can be rolled across the internet that can be spend and utilized across various websites – just by connecting a self-custodial wallet. This self-custodial wallet connects to let's say an “amazon,” and can be spent without directly entering in Personally identifiable information. Not that the person can’t be “Doxed,” by having their wallet's actions connected to them through various means. This could be as simple as someone saying on social media (hey, I like this new project) and when one inspects the blockchain – they see that only one wallet has interacted with that contract. This is 100% a surety that the individual has interacted with the contract or the chain; but more often then not, you can see who on social media is talking about a project and with enough block explorers – connect the social media accounts to the accounts who are interacting with a contract on the chain. When an individual operates “on-chain,” they pay an admission pass / fee – this fee depends on a variety of factors. 1. How busy the chain is; this is determined by each chains “gas” fee. The gas fee goes up and down with the activity waves on the chain. 2. How much data is being written to / exchanged with the chain. The bigger the input / output of the transaction, the more it multiplies the price of the gas. Transactions on Ethereum can vary from $2 to send any amount of crypto – from $1 million to $1; the price is the same no matter the amount being sent. The price of sending crypto is contingent on Users Active X Transaction Data. This is how you operate “on-chain” – until you begin to use your wallet in a self-custodial way – you will never understand the larger picture of the underlying mechanics of the blockchain. This is the only way to ensure that if an exchange is trading (using your funds like FTX) and they mess up majorly; your money is ok. Moving your coins off of an exchange protects you from any funny business that an exchange may play (like selling your coins believing the price will go one way; and when it doesn’t, they can lose everyone’s money). This has happened countless times over and over and over in the crypto space over the years. Better yet – exchanges can more easily be hacked then a self custodial wallet. Exchanges are good ways to go in and out of crypto and probably the most cost-effective way to enter or leave into the dollar world.

An exchange like coinbase will trade your bitcoin into dollars and deposit it into your bank account for a fee. This can typically be done within a matter of minutes. Depending on the congestion of the exchange and the network. This is how you “sell” your bitcoin, which people never truly understand how it can be done. People who use exchanges understand they can sell at any time; but people who understand some of the self custody and self sovereign nature of cryptocurrencies wonder; how do I sell. Well, you send your coins to your personal exchange (public address) PO Box. Make sure that you are sending coins on the same network. Only send Ethereum or Ethereum based assets (erc 20’s) to other erc-20 wallets.

A great way to understand how cryptocurreny and self custodial wallets work is faircrypto.org. Faircrypto.org was founded to create a fair crypto that anyone can mint for free *minus chain transaction costs*

The idea is that only a fairly distributed cryptocurrency can have any longer-term staying power due to the nature of ever-evolving narratives and pump-in-dumps in the rest of the crypto markets. The only way a crypto can be fair is for everyone to have an equal chance to mine it – like Bitcoin could be mined on a laptop in the early days. Since it has evolved to the point of being impractical for the average individual to mine it. Not that it's not possible. It just requires a significant amount of investment in electricity and computing power.

(explain bitcoin and its supply/supply distribution / disinflationary nature, mining costs/equipment, and compare it relative to the average expansion of m2 money supply over the past 40 years. Represent Bitcoins potential value appreciation if a currency crisis occurred and every single millionaire in the world wanted to move their economic energy into a currency that is resistant to the inflation happening in the current fiat financial environment; such as inflation or stagnation environment)

Represent bitcoin and its distribution in that case by this equation; All of the millionaires in the world (roughly 25 million millionaires (do a bing search for current millionaires and billionaires in the world)) and all their money divided by the total of 21 million bitcoin. There isn’t enough bitcoin for every millionaire to have one full bitcoin if they all decided that’s what they wanted to store their economic energy in.

Back to Ethereum – Ethereum has some scandals or accusations that may or may not be founded. One of the main accusations is that Vitalik Buterin is not the original developer or founder of the Ethereum ecosystem. Some crypto sleuths are making bold claims on Twitter, potentially tracing the Ethereum genesis wallets to a CCP car manufacturer. Others have made claims that many early influencers and educators in the Ethereum space were paid/given crypto for discussing Ethereum with their audience. Some have even accused MIT and Gary Gensler of receiving Ethereum from the early eth genesis wallets in wallets connected to MIT.

I believe that Ethereum will be declared a security, and thus, less competitive to bitcoin, which has had Layer 2 chains building out BRC-20’s, Ordinals, and other recursive minting contracts. I believe that Bitcoin ordinals will largely eat Ethereum’s lunch due to the fairer distribution of its genesis distribution. At least as far as we know. There is still a large question of who / what owns the Satoshi Nakamoto Genesis or Origin Adress wallet, which olds 1 million bitcoin. It is my opinion that Bitcoin could be western governments front running the inevitable collapse of fiat currencies and eventual loss of power due to the failure of govt policies, which promised Boomers a retirement that simple can’t be sustained due to their extended lifespans. Initially, retirement age was set at 62? When the average age of death was 57. Now the average age of retirement is 65ish, and the average age of death is something like 85. Can you see the burden of longer lifespans has been a blessing for the boomers but a curse for the gov’ts who have promised these lofty retirements? These retirement programs were unspoken and made for people who lived longer than usual as some kind of anomaly past the average age of death. Sadly, this has in some regards disenchanted the younger
...
```