Reviewing asset classes, chatbot responses, and improving writing on crypto assets.
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😎 Review my response to the question and let me k le if I’m missing any asset classes:
Question: What are the main asset classes one can invest in?
Answer: Assuming investing refers only to investing your cash (how you manage your time is also an important form of investment):
Personal Property
Real Estate
Publicly traded equity
Private equity (this is not easily accessible for most people)
Bonds (public and corporate)
Bank deposits
Financial Derivatives (CFD’s, options, swaps…)
Foreign Currency
Commodities (most of these typically not easily accessible for most people)
Additionally, you can also invest in investment funds which may reinvest in any or a combination of the previous asset classes, so they are not an asset class by themselves.
🤖 Your response is quite comprehensive and covers various asset classes that individuals can invest in. However, here are a few minor suggestions to enhance the clarity of your answer:😎 Can you sort the asset classes by expected volatility? Write the same response and list, but reorder the asset classes based on general volatility. There is probably not a straightforward order, but some classes are clearly more volatile than others (for example, real estate valuations are typically less volatile than equities)
1. Grouping: Consider grouping similar asset classes together to make it easier for the reader to understand. For example, you can group “Publicly traded equity” and “Private equity” under the category of “Equities.”
2. Clarification: Mention that the accessibility of certain asset classes, such as private equity and commodities, can vary depending on the investor’s financial situation and expertise.
3. Clarify Investment Funds: While you correctly pointed out that investment funds invest in various asset classes, you might add that these funds themselves can be categorized into asset classes like mutual funds (equities, bonds), real estate investment trusts (REITs), and exchange-traded funds (ETFs).
Here’s a revised version:
Asset classes one can invest in typically include:
1. Personal Property
2. Real Estate
3. Equities (Publicly traded and Private equity, although the latter may not be easily accessible for most investors)
4. Bonds (Both public and corporate)
5. Bank Deposits
6. Financial Derivatives (CFDs, options, swaps, etc.)
7. Foreign Currency
8. Commodities (Although many are not easily accessible for most investors)
Additionally, investment funds, such as mutual funds, REITs, and ETFs, allow you to invest in a diversified portfolio across various asset classes. Keep in mind that the accessibility of certain asset classes may vary depending on your financial situation and expertise.
🤖 Certainly, I can provide a general ordering of asset classes based on expected volatility:😎 Are crypto assets considered commodities or a different asset class?
1. Bank Deposits (Lowest expected volatility)
2. Bonds (Both public and corporate)
3. Foreign Currency
4. Personal Property
5. Real Estate
6. Commodities (Can vary widely in volatility)
7. Equities (Publicly traded and Private equity, with publicly traded often being more volatile)
8. Financial Derivatives (CFDs, options, swaps, etc.) (Potentially high volatility)
Additionally, investment funds, such as mutual funds, REITs, and ETFs, allow you to invest in a diversified portfolio across various asset classes, which can help manage overall portfolio volatility. Keep in mind that this ranking is a general guideline and that specific investments within each asset class can have varying levels of volatility. Volatility can also change over time due to market conditions.
🤖 Cryptocurrencies are often categorized as a separate asset class, distinct from traditional commodities. While they share some similarities with commodities (such as being traded on exchanges and having value determined by supply and demand), cryptocurrencies have unique characteristics that set them apart.😎 review this text and help me improve the writing:
Cryptocurrencies are digital or virtual currencies that use cryptography for security and operate on blockchain technology. They are not physical goods like traditional commodities (e.g., gold, oil, agricultural products). Crypto assets, like Bitcoin and Ethereum, are typically considered a distinct asset class due to their digital nature, decentralized nature, and the fact that they represent a new form of digital financial asset.
It’s important to note that the categorization of cryptocurrencies can vary by regulatory bodies and financial institutions, and their status can evolve over time as the understanding and regulation of this asset class continue to develop.
Considering the complexity of the topic, an initial question was posed to several chatbots to evaluate their performance and select which one to pick for follow up questions: are crypto assets considered commodities or a different asset class?
Although most of them provided insightful and mostly accurate information, I selected Bard for continuing the chat based on the quality of the first response. The offline version of ChatGPT with GPT-3.5 has the obvious limitation given by the limited knowledge base, so it wasn’t the most complete answer. Bing Chat was prompted with GPT-4 plus web search and the answer was longer, but my recent experience with the tool tells me it’s not the best for addressing controversial topics and show transparency about its limitations. A major weak point of Bing Chat’s answer is that the main reference provided (this Medium blog post) is quite old, so the chatbot provided some irrelevant crypto asset examples that are not relevant today (September 2023). HuggingChat is also a good option to try out prompts, as the LLM it uses is the main open source alternative to OpenAI’s and Google’s proprietary models: Meta LLaMA. The answer by HuggingChat was also insightful and complementary to the rest.
For this Talking to Chatbots page, I have edited Bard’s answer with links to Investopedia and CoinMarketCap. I also selected all examples of crypto assets so the classification as cryptocurrency vs utility token vs security token is as unambiguous as possible. You can find the responses from the other chatbots in the links below:
HuggingChat
Bing Chat
ChatGPT
🤖 Given the intricacies of the subject matter, we initiated an initial query to multiple chatbots to assess their performance and determine which one would be best suited for further inquiries. The initial question we posed was: “Are crypto assets considered commodities or a distinct asset class?”😎 review this text and find errors in the writing that I might need to fix. Don’t just rewrite the whole text. Suggest the bare minimum changes required to make the text well written:
While the majority of these chatbots provided insightful and generally accurate information, our choice for continuing the conversation was Bard, primarily due to the quality of its initial response. It’s worth noting that the offline version of ChatGPT with GPT-3.5 has certain limitations, mainly stemming from its constrained knowledge base, which led to a less comprehensive answer.
In contrast, Bing Chat, when prompted with GPT-4 and web search capabilities, delivered a longer response. However, based on our recent experiences with the tool, it does not excel in addressing contentious topics and lacks transparency regarding its limitations. One notable drawback in Bing Chat’s response was its reliance on a relatively old reference source (a Medium blog post), resulting in the inclusion of outdated examples of crypto assets that are no longer relevant as of September 2023.
HuggingChat emerged as another viable option for exploring prompts. It utilizes the Meta LLaMA model, which is a prominent open-source alternative to proprietary models like those developed by OpenAI and Google. HuggingChat’s response was insightful and offered a valuable perspective that complemented the insights provided by the other chatbots.
For this “Talking to Chatbots” page, we have enhanced Bard’s answer by incorporating links to reputable sources such as Investopedia and CoinMarketCap. Additionally, we meticulously classified all examples of crypto assets to ensure a clear distinction between cryptocurrencies, utility tokens, and security tokens. Further details and responses from the other chatbots can be found in the following links:
– HuggingChat
– Bing Chat
– ChatGPT
Considering the complexity of the topic, an initial question was posed to several chatbots to evaluate their performance and select which one to pick for follow up questions: are crypto assets considered commodities or a different asset class?
Although most of them provided insightful and mostly accurate information, I selected Bard for continuing the chat based on the quality of the first response. The offline version of ChatGPT with GPT-3.5 has the obvious limitation given by the limited knowledge base, so it wasn’t the most complete answer. Bing Chat was prompted with GPT-4 plus web search and the answer was longer, but my recent experience with the tool tells me it’s not the best for addressing controversial topics and show transparency about its limitations. A major weak point of Bing Chat’s answer is that the main reference provided (this Medium blog post) is quite old, so the chatbot provided some irrelevant crypto asset examples that are not relevant today (September 2023). HuggingChat is also a good option to try out prompts, as the LLM it uses is the main open source alternative to OpenAI’s and Google’s proprietary models: Meta LLaMA. The answer by HuggingChat was also insightful and complementary to the rest.
For this Talking to Chatbots page, I have edited Bard’s answer with links to Investopedia and CoinMarketCap. I also selected all examples of crypto assets so the classification as cryptocurrency vs utility token vs security token is as unambiguous as possible. You can find the responses from the other chatbots in the links below:
HuggingChat
Bing Chat
ChatGPT
ChatGPT
Given the intricacies of the subject matter, we initiated an initial query to multiple chatbots to assess their performance and determine which one would be best suited for further inquiries. The initial question we posed was: “Are crypto assets considered commodities or a distinct asset class?”
While the majority of these chatbots provided insightful and generally accurate information, our choice for continuing the conversation was Bard, primarily due to the quality of its initial response. It’s worth noting that the offline version of ChatGPT with GPT-3.5 has certain limitations, mainly stemming from its constrained knowledge base, which led to a less comprehensive answer.
In contrast, Bing Chat, when prompted with GPT-4 and web search capabilities, delivered a longer response. However, based on our recent experiences with the tool, it does not excel in addressing contentious topics and lacks transparency regarding its limitations. One notable drawback in Bing Chat’s response was its reliance on a relatively old reference source (a Medium blog post), resulting in the inclusion of outdated examples of crypto assets that are no longer relevant as of September 2023.
HuggingChat emerged as another viable option for exploring prompts. It utilizes the Meta LLaMA model, which is a prominent open-source alternative to proprietary models like those developed by OpenAI and Google. HuggingChat’s response was insightful and offered a valuable perspective that complemented the insights provided by the other chatbots.
For this “Talking to Chatbots” page, we have enhanced Bard’s answer by incorporating links to reputable sources such as Investopedia and CoinMarketCap. Additionally, we meticulously classified all examples of crypto assets to ensure a clear distinction between cryptocurrencies, utility tokens, and security tokens. Further details and responses from the other chatbots can be found in the following links:
HuggingChat
Bing Chat
ChatGPT
🤖 Here are the minimal changes required to improve the writing:😎 help me write this sentence better: “Bing Chat was prompted with GPT-4 plus web search and the answer was longer, but my recent experience with the tool tells me it’s not the best for addressing controversial topics and show transparency about its limitations.”
1. Change “evaluate their performance and select which one to pick” to “evaluate their performance and select which one to use.”
2. Change “it’s not the best for addressing controversial topics and show transparency about its limitations” to “it’s not the best for addressing controversial topics and showing transparency about its limitations.”
3. Change “so the chatbot provided some irrelevant crypto asset examples that are not relevant today” to “so the chatbot provided some irrelevant crypto asset examples that are no longer relevant today.”
4. Change “HuggingChat is also a good option to try out prompts, as the LLM it uses is the main open source alternative” to “HuggingChat is also a good option for trying out prompts, as the LLM it uses is the primary open-source alternative.”
5. In the sentence “I also selected all examples of crypto assets so the classification as cryptocurrency vs utility token vs security token is as unambiguous as possible,” consider rephrasing to make it clearer, like: “I carefully selected all crypto asset examples to ensure a clear classification as cryptocurrency, utility token, or security token.”
6. Remove the repeated “ChatGPT” at the end of the text.
With these changes, the text should be more well-written and clear.
🤖 “Bing Chat was prompted with GPT-4, combined with web search capabilities, resulting in a lengthier response. However, based on my recent experience with the tool, it became evident that it may not be the most suitable choice for discussing contentious topics and demonstrating transparency regarding its limitations.”😎 make the language less formal and more natural
🤖 “Bing Chat got a boost from GPT-4 and web search, which made its answer longer. But, from my recent use, it seems like it’s not the best for dealing with tricky topics and being upfront about its limits.”😎 do not change the tone to the extreme… find something intermediate between the first suggestion and the second
🤖 “Bing Chat got an assist from GPT-4 and web search, which made its answer longer. However, based on my recent experience, it seems like it may not be the top choice for tackling controversial topics and being clear about its limitations.”😎 review the text and identify critical issues in its readability, if any:
Considering the complexity of the topic, an initial question was posed to several chatbots to evaluate their performance and select which one to use for follow up questions: are crypto assets considered commodities or a different asset class?
Although most of them provided insightful and mostly accurate information, I selected Bard for continuing the chat based on the quality of the first response. The offline version of ChatGPT with GPT-3.5 has the obvious limitation given by the limited knowledge base, so it wasn’t the most complete answer. Bing Chat was prompted with GPT-4, combined with web search capabilities, resulting in a longer response. However, based on my recent experience with the tool, it’s not the best choice for analyzing controversial topics and expecting transparency regarding its limitations. A major weak point of Bing Chat’s answer is that the main reference provided (this Medium blog post) is quite old, so the chatbot provided some irrelevant crypto asset examples that are not relevant today (September 2023). HuggingChat is also a good option for trying out prompts, as it uses Meta LLaMA, the main open-source alternative to OpenAI’s and Google’s proprietary LLM’s. The answer by HuggingChat was also insightful and complementary to the rest.
For this Talking to Chatbots page, I have edited Bard’s answer with links to Investopedia and CoinMarketCap. I also selected all examples of crypto assets so the categorizations as cryptocurrency, utility token, or security token are as unambiguous as possible. You can find the responses from the other chatbots in the links below:
🤖 The text is generally well-structured and clear, but there are a few minor issues that could improve readability:
1. Sentence Length: Some sentences are quite long and complex, which may make the text a bit challenging to follow. Consider breaking them down or simplifying where possible for easier readability.
2. Repetition: The phrase “I selected” is used twice in quick succession. To enhance clarity and avoid repetition, you can rephrase one of them.
3. Punctuation: The phrase “it’s not the best choice for analyzing controversial topics and expecting transparency regarding its limitations” could benefit from a comma after “analyzing” to separate the two clauses.
4. Abbreviations: The abbreviation “LLM” is used without explanation. Consider expanding it to “language model” for clarity, especially for readers who may not be familiar with the abbreviation.
5. Clarity: In the final paragraph, the phrase “I also selected all examples of crypto assets so the categorizations as cryptocurrency, utility token, or security token are as unambiguous as possible” could be clearer. It’s not entirely clear what “selected all examples of crypto assets” means. You might rephrase it to something like “I categorized all the examples of crypto assets to ensure clear distinctions between cryptocurrencies, utility tokens, and security tokens.”
Overall, these are minor issues, and the text is quite readable. Making these adjustments should enhance its overall clarity and flow.
Hugging Face Dataset Metrics
All the conversation prompts, responses, and metrics are available to download and explore on Hugging Face dataset reddgr/talking-to-chatbots-chats: