- Google Bard AI picks five promising cryptocurrencies.
- Assessment based on performance, security, and innovation.
- Risks like regulation and volatility are considered.
The search engine giant Google’s advanced AI-based chatbot Bard continues to grab attention with its capabilities, quickly extending its potential to offer valuable insights across various industries. Google Bard was asked to provide five cryptocurrencies with high price performance and return on investment (ROI) potential for profit-making purposes. Here are the 5 cryptocurrencies that Google’s AI believes meet these criteria.
At the top of the list of cryptocurrencies given by Google Bard is, unsurprisingly, Bitcoin (BTC). As is well known, Bitcoin is the first and largest cryptocurrency. Google Bard highlighted BTC, stating, “It has a long history of success and is considered a relatively safe investment. It is also the most liquid cryptocurrency, meaning it is easy to trade.”
When asked why Bitcoin was included in the list, Google’s AI replied, “BTC has a limited supply of 21 million, which means it is not subject to inflation like traditional currencies. This scarcity makes Bitcoin a valuable store of value. Moreover, it operates on Blockchain technology, which is a very secure and fraud-resistant distributed ledger. However, it is volatile and subject to regulations.”
The second cryptocurrency on Google Bard’s list is the largest altcoin, Ethereum (ETH). Ethereum is a platform developed for decentralized applications (dApps) and also hosts non-fungible tokens (NFTs).
In explaining why Ethereum was included in the list, Google’s AI stated, “Ethereum has established an impressive first-mover advantage in key areas such as NFTs and decentralized finance (DeFi), leading a host of Blockchain innovations. However, its low transaction speed, with the ability to process only about 15 transactions per hour, limits its capacity to handle large-scale applications.”
The third cryptocurrency on the list provided by Google’s AI is Solana (SOL). Solana is a smart contract platform with a unique architecture that can process thousands of transactions per second while keeping transaction fees extremely low. A few days ago, Solana’s DeFi ecosystem reached a significant milestone, with the value of locked assets exceeding $655 million, marking a new annual high.
Providing a general comment on SOL, Google Bard said, “Solana presents an attractive investment opportunity due to its high scalability, low transaction fees, developing ecosystem, and strong developer support. However, considering potential risks such as its novelty, centralization concerns, ecosystem maturity, network outages, and regulatory uncertainty is important.”
The fourth spot on the list is occupied by the popular altcoin Cardano (ADA). Cardano is a Blockchain platform created by Ethereum co-founder Charles Hoskinson and is named after Augusta Ada King, considered the first computer programmer.
Commenting on ADA, Google Bard wrote, “Overall, Cardano offers a significant investment opportunity with its strong technical foundation, focus on research and innovation, growing ecosystem, environmental sustainability, and solid community support. However, investors should carefully evaluate potential risks such as market volatility, regulatory uncertainty, the newness of its ecosystem, and technological advancements.”
Shiba Inu (SHIB)
The last cryptocurrency on Google Bard’s list is the second-largest memecoin, Shiba Inu (SHIB). Shiba Inu is a meme-inspired cryptocurrency launched in August 2020, using the Shiba Inu dog breed as a mascot. Created by an anonymous developer known as “Ryoshi,” Shiba Inu runs on the Ethereum Blockchain and positions itself as a decentralized community-building experience.
Interestingly, when asked whether it was correct to include SHIB in this list of five cryptocurrencies, Google Bard noted, “Shiba Inu, a meme cryptocurrency with a large and active community, operates more on speculation and excitement rather than genuine interest in its development or potential applications. Its limited use, high supply, lack of developer activity, and regulatory uncertainty make it a risky investment.”