How AI ChatGPT Helps Me Generate 1.7 ETH Daily with an Arbitrage Bot
TLDRThis video tutorial demonstrates how to create an Ethereum sniping bot using AI-powered ChatGPT, which consistently generates daily passive income. The bot actively monitors the blockchain for new tokens and significant price changes, swiftly executing trades for profit. The process is simplified for users with no coding knowledge, involving writing a smart contract, deploying it on Remix IDE, and funding it for trading. The video also covers the bot's deployment, operation, and profit withdrawal, showcasing a successful 31% return in just over 12 hours.
Takeaways
- 😲 The video demonstrates how to create an Ethereum sniping bot using AI-powered ChatGPT.
- 💡 The bot monitors the blockchain for new tokens and significant price changes to exploit arbitrage opportunities.
- 🔍 It uses smart algorithms to identify tokens during listing or sudden price movements, providing a competitive edge.
- 💼 No coding knowledge is required to set up the bot, making it accessible to a wider audience.
- 🛠️ The script involves using Remix IDE to develop, compile, and deploy smart contracts written in Solidity.
- 🔗 A link to Remix IDE and instructions for using MetaMask are provided for a seamless setup process.
- 💼 The video guides viewers through the process of deploying the smart contract to the Ethereum mainnet.
- 💰 It's recommended to fund the bot with at least 0.5 to 1 ETH for effective trading and potential profits.
- 📈 The bot is designed to start scanning for arbitrage opportunities once it's funded and the 'Start' function is initiated.
- 📊 The video shows a profit of 1.31 ETH after 12 hours and over 1.6 ETH after a day, highlighting the bot's profitability.
- 💸 The bot can be stopped at any time, and profits can be withdrawn back to the user's wallet with a simple transaction.
Q & A
What is the main purpose of the AI-powered Ethereum sniping bot discussed in the video?
-The AI-powered Ethereum sniping bot is designed to monitor the blockchain for new tokens and significant price changes, allowing it to swiftly buy or sell tokens before most traders notice, thus profiting from price differences.
How does the bot use smart algorithms to make trades?
-The bot uses smart algorithms to identify tokens as they're listed or during sudden price movements, automatically making trades on your behalf without the need for manual intervention.
What is the role of ChatGPT in creating the bot as described in the video?
-ChatGPT is used to write the code for a smart contract on Ethereum that automatically hunts for sniping opportunities to earn Ethereum.
Why is Remix IDE mentioned in the video, and what is its function?
-Remix IDE is mentioned as a web 3 application that allows users to develop, compile, deploy, and launch smart contracts written in Solidity, which is essential for creating and managing the sniping bot.
What is the significance of MetaMask browser extension in the context of the video?
-MetaMask browser extension is necessary for connecting to the Ethereum mainnet and managing transactions, including deploying and interacting with the smart contract of the sniping bot.
What are the minimum funds required to operate the bot effectively according to the video?
-The video suggests funding the bot with at least 0.5 to 1 ETH for trading, as using less than this amount may result in losses due to the difficulty of making profits from such a low initial investment.
How does the bot handle gas fees, and why are they important?
-The bot requires gas fees for smart contract deployment and transactions on the Ethereum network. Setting the gas fee to high ensures faster processing of transactions, which is crucial for the bot's timely execution of trades.
What is the process for deploying the smart contract as outlined in the video?
-The process involves compiling the smart contract code in Remix IDE, deploying it to a wallet connected to the Ethereum mainnet, and funding it with ETH for trading.
What is the expected profit from running the bot, as demonstrated in the video?
-The video demonstrates a profit of 31% in just over 12 hours, and over a day, the profit increased to 1.6 ETH, indicating significant earnings potential.
How can users stop the bot and withdraw their funds and profits?
-Users can stop the bot and withdraw their initial Ethereum and profits by clicking the 'Withdraw' button within the smart contract interface, which will return the funds to the user's wallet.
What is the potential risk involved in running the sniping bot, as hinted in the video?
-The potential risk involves the possibility of losing the initial investment if the bot operates with a low amount of ETH, as the gas fees and transaction costs can outweigh the potential profits.
Outlines
💻 Introduction to Ethereum Sniping Bot
The speaker introduces a video tutorial on creating an Ethereum sniping bot using AI-powered Chat GPT. The bot is designed to monitor the blockchain for new tokens and significant price changes, allowing for swift buying or selling actions before other traders react. This provides a competitive edge in profiting from price differences. The bot operates using smart algorithms and does not require any coding knowledge from the user. The tutorial begins with instructing Chat GPT to write a smart contract code for Ethereum to automatically seek sniping opportunities.
🛠 Setting Up the Ethereum Sniping Bot
The tutorial continues with instructions on how to set up the sniping bot. The user is guided to use Remix, a web 3 application for developing smart contracts in Solidity. The speaker emphasizes the need for the MetaMask browser extension and connection to the Ethereum mainnet. After creating a new contract named 'bot.soul' and pasting the code provided by Chat GPT, the user is instructed to compile the contract using the specified Solidity version. The deployment process is detailed, including setting gas fees and confirming the transaction on the blockchain. Once deployed, the smart contract's functions are explained, with a focus on 'start' for monitoring and 'withdraw' for stopping the bot and retrieving funds.
💰 Funding and Operating the Bot
After deploying the smart contract, the user is advised to fund it with ETH for trading purposes. The speaker recommends a minimum amount to ensure profitability, explaining the cost implications of gas fees and the potential for loss with lower funding. The tutorial then demonstrates how to start the bot, which scans the mempool for liquidity pairs to execute sandwich transactions. The speaker shares their experience of earning a 31% profit within 12 hours and suggests running the bot for an extended period to maximize profits. The process of withdrawing profits by stopping the bot and transferring the funds back to the wallet is also covered.
📈 Reviewing Profits and Encouraging Engagement
The speaker reviews the bot's performance after a day, showing an impressive profit of over half the initial deposit. They highlight the potential for even greater earnings over time, sometimes reaching 3 to 6 Ethereum in a week. The video concludes with an invitation for viewers to share their profits, like the video, and subscribe for more content on generating passive income using web-based tools.
Mindmap
Keywords
💡AI ChatGPT
💡Ethereum
💡Sniping Bot
💡Arbitrage Bot
💡Blockchain
💡Smart Contract
💡Remix
💡MetaMask
💡Gas Fees
💡Liquidity Pairs
💡Slippage
Highlights
Introduction to creating an Ethereum sniping bot using AI-powered ChatGPT
The bot earns daily passive income by monitoring the blockchain for new tokens and significant price changes
It acts swiftly to buy or sell tokens before most traders notice, providing a significant advantage
The bot's secret is its ability to identify tokens during listing or sudden price movements
Smart algorithms make trades for you, allowing you to earn profits without active involvement
No coding knowledge is required to set up and run the bot
ChatGPT is used to write the code for a smart contract on Ethereum
Remix IDE is introduced as the platform to develop, compile, deploy, and launch smart contracts
MetaMask browser extension is required for interacting with the Ethereum network
Instructions on how to create a new contract in Remix IDE and name it 'bot.soul'
Code from ChatGPT is pasted into the 'bot.soul' file in Remix IDE
Addresses of Wrapped Ether tokens are checked on Etherscan for competition
The bot file is compiled in Remix IDE using the 0.6.0 version of Solidity
Smart contract deployment on the Ethereum mainnet requires paying gas fees
The smart contract is deployed and its functions are explained
Funding the smart contract with ETH is necessary for trading and ensuring profits
Calculation of potential profits and gas fees for different transaction sizes
The bot is started to scan the market for sandwich transactions
Results after 12 hours show a 31% profit in Ethereum
After 24 hours, the bot has earned over half of the initial deposit back
The bot can be stopped and profits withdrawn at any time
Final withdrawal of profits and the bot's performance over a week
Encouragement for viewers to share their profits and subscribe for more passive income strategies