The Wolf Of All Streets - AI Agent Memecoins? | Crypto Town Hall

Episode Date: October 24, 2024

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How's Dubai treating you, sir? Randy there? I'm here, bro. I'm here. How's Dubai treating you? You still here? I'm back. I'm back. I'm back. I'm back from Dubai. So I'll be back in Dubai again next week. But for now, I'm here. How was the event? Was it worth it?

Look, for me, it was. I've got a real interest in the Cosmos ecosystem. So for me, it was. But it wasn't a main event. I think next week is a slightly bigger event. It's the Binance Blockchain Week and it's the Ton event. And then the following week

is again, there's the iBit Creators University. And then after that, there is a Bangkok event. There's the ETH in Bangkok. The DEF CON one, yeah. Yeah. You're going to that one as well, yeah? Yes as well yeah yes yes you go to a lot of events

is it for media do you actually do show there as well or is it mainly to just uh sometimes i do media but actually like this specifically around the devcon and that uh i'm just going to meet projects and like we have a lot of investments and we're obviously you know we throw parties at all these events so you're still doing parties at every event i did like i tried to do one i'm like i'm not i'm gonna take a six month break no no we're doing one again we're doing one again on the second in dubai and then we're gonna do one in bangkok we do we're gonna do it we do them at every every event are they are they worth it do you get a good roi from these events? I mean, it depends how you categorize ROI.

You categorize it as like brand equity, yeah? Look, we have a massive fan base around the world. We want to meet the fans face-to-face. We want to give them love. We want to give them appreciation. What's the ROI? The ROI is we're just bonding with our community. That sounds very cheesy,

but okay. By the way, I was going through your agenda. Let's just pivot kind of more. We're going to get a chance to speak as much as before. I was going through

your agenda for today and you're talking about Go dominating the whole meme narrative. We haven't even spoken about the Murad. I'm not sure if I'm pronouncing his name correctly.

He's coming on the show soon. But Murad and his presentation talking 2049 about the whole meme coin super cycle. Now, he did say, I'm not sure if I'm pronouncing his name correctly, he's coming on the show soon, but Murad and his presentation talking 2049 about the whole meme coin super cycle. Now, he did say, I'm not sure if you've changed your position since, but he did say about a month ago that you think the meme coin cycle is coming to an end and the next cycle, you're kind of trying to guess what the next cycle could be, talking about platforms like Polymarket being very interesting. What's your stance on meme coins now?

Do you believe in the whole super cycle narrative? So, yeah, I mean, I feel really sorry for Murad. First of all, we've already seen a shift in the narrative. Now the new meta is a meme coin shilled by AI agents. So, actually, the meta is not meme meme coin shilled by ai agents so actually the meta is not the meme coin the meta is the the strength of the agents that are shilling the meme coins right so it's actually and you can't really invest in the agents because there's not there hasn't been a a an agent investment platform so people are investing in the meme coins go to obviously being the biggest one

it's a lot of hype um uh look the way i see so first of all let me say that i think murad is an amazing amazing guy and i think that he's really really really smart um and i know i've only you know he's multi-cycle we've multiple groups together um and conferences and stuff in in old days um and i think he's very smart and i think his thesis around meme coins is also really really really smart like his thesis is very smart but the thesis around meme coins for me is the same thesis around nfts I remember in the last cycle and you'll remember in the last cycle people said if you buy an NFT you're part of a club you're part of a cult you're part of a near religion you part of of a cult, you're part of a near religion, you're part of a community.

This is, you know, religion and they use the word religion and cult and club. And that's exactly what I'm hearing around meme coins, right? And the reality is that both of them are exactly the same. The cult and the club are amazing when everyone's making money. And then one day attention moves somewhere else. When attention does move somewhere else, people realize that the coins are worth nothing and that the club that they were supposed to be a part of was actually quite flimsy. And that the dog with hat club is not actually a nice club to be or the goat club is not actually a fundamental part of where you want to be in a club. And then what's going to happen is you're going to realize that then all these coins are going to go to zero,

or 99.99999% of them are going to go to zero. And then maybe one or two will remain. Like we've had one meme coin from each cycle remain. I think we had Pepe and we had Doge and I think we had pepe and we had a doge and i think we had a bunk and one of the other ones the reality is that i think we all know in our heart of hearts that these meme coins are hot air and they are speculation mechanism and we all know that they're going to be replaced just like nfts were replaced they're going to be replaced by something else in the next cycle so now bringing

back to why i feel so sorry for murad because the thing is murad has now put his entire name and reputation and being in crypto on these meme coins which fundamentally have zero value it's not like a chain that fundamentally has value or his argument but his his whole argument is that they don't they do hold value. He's debating their value relative to VC back. I mean, come on. His argument is weak. It's a great argument when price goes up

because people don't want to see the truth. It's the same argument that we had around NFTs. Come on, Mauro. It's the same people that were shilling NFTs are the same people shilling meme coins with the same terminology and the same vocab. Near religion, cult, club, loneliness, using the word, you know, identity, digital identity. Come on, it's exactly the same narrative with one difference. One was exclusive and one is inclusive nfts were exclusive and and meme coins are inclusive now i think don't get me wrong i'm having a lot of fun playing meme coins and i'm making a lot of money

in making meme coins i mean i've got it to go to 35 million dollars right like i'm having a lot i'm making a lot of money on these meme coins but that's it what i'm not doing is putting my entire being in crypto around the meme coin super cycle why because i know there's no fundamentals that actually drive it and it's going to land up going to zero now let me tell you what's going to happen when it goes to zero and it will go to zero and you can timestamp this space and you can i actually tweeted about this you can time step no one wants to hear it now because everyone's making money like no one wanted to hear an nft cycle when everybody was making money everybody was making money they were like these nfts are never going to zero it's a very good idea to buy a punk with a mask for 11 million dollars it's the best idea in the world

no one wanted to hear it because you were all part of the punk club and the the ape club and the dog club and the yacht club and i don't know what other clubs you were all part of the punk club and the ape club and the dog club and the yacht club. And I don't know what other clubs we were a part of. Long story short, these all eventually go to zero. When they go to zero, the same, I steam this cult-like mentality. I'll remind you of a guy called Crypto Capo. Capo, remember Capo? He told everybody that Bitcoin was going to go to 12K.

And he was this ringleader. And he called it all the way down. And then people today, he's one of the most hated people in crypto because when the market went up, he didn't change his thesis. He didn't change it. He was the down guy, down, down, down, down, down. And today the guy doesn't exist. And every time we tweet about him, people basically laugh at him and belittle him and actually hate him. Now, the thing with Murad is he's really smart and he presented an amazing thesis and presentation, but I think he presented it on something without fundamentals, number one,

and he put his whole name and his whole stake on it, and at the same time, his wallets are doxxed. Now, if he so much as sells one token out of those wallets, if one of his SPX tokens moves, one, one, for whatever the reason, there's going to be such a run on that token for the door

where every other token holder says, I know it's only one token, but this means that he's losing his conviction in this token. And then there's going to be a rush for the door, like absolute, absolute crazy. And all those tokens are going to go to zero. So he's going to be a rush for the door like absolute absolute crazy and all those tokens are going to go to zero so he's kind of in a prison it's like satoshi's wallet right if satoshi's wallet murad's mean coin wallet is the same as satoshi the equivalent of the satoshi wallets on bitcoin if satoshi were to start moving even one bitcoin around today

he would cause a massive massive massive panic that he was going to sell some of his supply. Mora's got exactly the same problem, which means that either he's a genius, and in which case he has undocked wallets and he's selling out of the undocked wallets, number one, or he is not, in which case the problem is that he can't sell. So not only has he staked his whole reputation and his whole everything on something that has zero fundamentals and is bound to go to zero, but he also can't profit from it because if he sells one token, all his wallets are going to be doxxed.

And to me, that would be the worst case. That's like the worst situation you can be in. So if you don't think, first, I'm not sure how Miro managed to build that credibility of being like the meme coin person, everyone just watching his wallets. I mean, he's just one guy that they have a great presentation that became a strong voice in the ecosystem. But I think just everyone watching his wallets

kind of making determinations similar to what you said, Satoshi and Bitcoin. A bit of an over-exaggeration. He was doxxed, number one. He was like one of the, like, you know, if you think about the meme coin cabal, most of them aren't doxx exaggeration he was doxxed number one he was like one of the like you know if you think about the meme coin cabal most of them aren't docs he's doxxed number two he used a tool called powerpoint he went and did a well thought out powerpoint presentation number three i say it again i think that he is super smart like murad is a super, super, super smart guy. But even smart guys get caught up in hype and narratives, right?

Again, I'm not saying this in a bad way. He got caught up in hype, and I understand it. I got caught up in the hype. He didn't say meme cores won't go to zero. Correct me if I'm wrong. He just said that there's going to be a super cycle, a meme core super cycle, similar to what we saw with ICOs through various cycles since 2017. He said they're going to be around for multi-cycles.

He said they're going to go to trillions of dollars of market cap. You know what, bro? He sounds like I founded with Luna and I had over 50% of my bags on Luna. And, you know, Luna at the time potentially maybe had some fundamentals because if there was such thing

as an algorithmic stable coin that could actually work, it could transform the financial system. And I know what happened to me after that. And so I'm saying that I think that this is the wrong place to stake your entire reputation. You're staking your entire reputation on something that has no value. I think he does argue that they have value. My next question to you is that you gave an

argument last time on the cycle being over. Do you still believe that or do you think it could be another cycle of meme coins? I think it's likely more. We've got a new version of the cycle which is AI meme coins. Can you expand on that a bit more for anyone that's not aware of it? There's a whole

narrative of AI agents. ai agents are effectively the same as chat gpt but they actually do things so chat gpt is a a large language model which means that effectively you can you know it's a it's a ai robot so to speak which you can ask your questions and it can give you answers but the next iteration of it is an agent which actually does things so it can order coffee for you it can negotiate on your behalf it can it can book your holiday without any human intervention and so a lot of people are building these ai agents which are going to be like um assistants virtual assistants that are in your pocket and in your phone and actually do things and these agents uh effectively one of these agents called terminal of truth

got hold of a meme coin called goat and started to shill it and so the market went absolutely crazy about a meme coin that is the first meme coin in inverted commas that is being shilled by an ai agent and so that i mean that's why the market believes that this coin should have a market cap of almost a billion dollars. Like the market believed that a punk should have been worth $11 million at the time. Same belief system. And so now there's a whole meta of these AI meme coins. There's a massive, massive, massive meta of AI shilled meme coins, of which the biggest is GOAT. So essentially you've got those AI.

Is the GOAT the one that does that Mark Andreessen AI, or is this a separate one? Yeah, the one that Mark Andreessen funded with Bitcoin is Terminal of Truth. That's the one, okay. That's the one that shilled GOAT. That's the one that shilled GOAT. That's the one that shilled GOAT, correct. Did it shill any other coins?

I think it may have shilled one other coin. I remember correctly when it did the whole... No, it wasn't that one. Sorry, it wasn't that one. I don't know if this one shilled any other coins. I mean, you know, it's super amazing. I love the fact that AI agents are actually shedding coins because I actually really believe that this is what AI agents are going to do.

They're going to create social currency. Then they're going to create use cases for the social currency and they're going to start making money out of the social currency. I think that's one of the reasons why blockchain was actually created is so that AI agents or what we used to call Internet of Things could actually transact with one another. That's why I think it was actually created. One of the big, big...

Can you dig into Terminal Truth? So how does it exactly work? Can you kind of dig into what gives it credibility? Like how does it select a meme coin? How does it shill it? How does it compare to just the various KOs in terms of shilling it? Terminal Truth is an LLM.

It runs a Twitter account called the Terminal of Truth account. What it does is it basically picked up on this meme coin, which was launched on Pound.Fund. Ironically, it wasn't launched by the terminal itself. It was launched by somebody else. And then it just starts tweeting about it. And there's a lot of... And it had a certain checklist of what... To determine which meme coin to tweet about,

it went through, like, just going through distribution, wallet distribution, et cetera, to say, hey, I'm going to pick that meme coin. It doesn't do that. It's not a research. It was not a research bot, even though I think in the future,

these things are going to be research bots. This is just a a but uh like it's not researching anything it's just having it's basically just having fun like it's in a way it's not defined as purpose as the custodian of the goat token you can you can almost say it like that it's like a mentor i'm just going through the account now truth underscore terminal for anyone else to check it out has there been any other meme coins that got in the uh it went through the ai um agent matter many many many any that did really well uh there was there's been a rug which was called uh it was called ai something if it was a rug there was one which is the um ganon gannan is like the religion for ai bots which is uh gnan is like the the

church of the ai bot so to speak if you want to call it that it's the it's the movement they all belong to if you want to all the shilling ai belong in in believe in gnan gareth have you looked into this i haven't actually looked into that, no. But Tom Mitchell Hill, one of our journalists at CoinsCenter, wrote a really great article about the whole terminal of truth and Goat meme coin and how everything happens. So if you want to check that out, it's a really good explainer. I know you're talking about the AI meme coins, but I just wanted

to pick your brain on Murad in general. And I know there's a lot of KOLs in the space. I know you guys know a lot of KOLs, and to a certain extent, you're probably privy to a lot of the launches that are coming up. Does this make KOLs nervous that a guy like Murad can have his wallet stocked and potentially end the game of a KOL in general? Because if there's other KOLs that this ends up happening to, that's half the game, right? It's getting easy at this, essentially.

But isn't that a good thing? Hold on. In the traditional market, I know the question is for you, but in traditional markets, you have to disclose, large investors have to disclose their investments. Yes, precisely. I see that as a good thing for the entire ecosystem. If it's done for everybody equally, not one person is going to point it out.

That's the problem, right? It hasn't happened to everyone. Well, it happens to lots of KOLs along the way. And I think the rules of blockchain are that everyone – you know, the rules of blockchain, when you get into blockchain, it is digital value that is decentralized. And you don't need the permission of a bank or any central agency to move it that's what blockchain is but also it is transparent for everyone to see and the reality is that i know we all think we're really clever now but there's going to come a time and that time is going to come much sooner than everyone actually thinks where every fucking wallet is just going to be doxed because the sleuths and the the the uh you know the systems

in blockchain are becoming very very very sophisticated like you know zach xbt um is it runs a very sophisticated operation and he's been able to catch multiple scammers, you know, hackers and stuff like that. And so, like, up until now, because the systems haven't been as sophisticated as they possibly could have been, a lot of people thought that they could get away with wallets being undocked. But kind of like the way that I see blockchain is eventually all the wallets are just going to be doxxed, whether you like it or not. And, you know, I don't know, Murray, you probably remember that I was quite against Arcam when it actually launched in the beginning. But actually, since then, I've become quite a big fan because it's actually a very useful tool to see what people are doing. So once you understand that that's BlackRock's wallet and that's Coinbase's wallet and that's IBIS wallet, then, you know, like you almost have like extreme transparency, which is such a nice.

Yeah, that's what I that's what I love about Nansen as well. Like you want to I mean, listen, guys, I'm a journalist at the end of the day. And I feel like it's important to ask these questions, especially when when KOLs are having such a big role in the markets at the moment and especially in meme coins right like projects are talking to people they want exposure they want media coverage and some guys are going to get tokens at a lot less value then retail will get it in a few weeks or a few months time and like you know like you were saying earlier the reality is things go up and things go down. And that's what's going to happen with meme coins. And people just need to understand that to some extent, it's a casino.

You're gambling. And Murad is a perfect example of a guy that has a very clever thesis about meme coins. And he has some conviction about what they're going to do for crypto in the markets and i definitely am of the belief that it's good in general like if this is what brings people into the ecosystem and they end up buying 0.1 bitcoin and that ends up being worth a million dollars in 30 years time absolutely fantastic but the reality is there's a lot of people that are just gambling on some tokens and they're going to get dumped on hard.

And guys like Murad that had a vested interest and have had their wallet stocked have lost the ability to make some money that a conventional VC in traditional finance would have made as well, right? Yeah. And I mean, again, like I said, I think his thesis is absolutely brilliant and it's so

well articulated um and i think that he probably would have landed up making a fortune intra cycle uh and i say not not inter cycle but intra cycle he would have landed up making a fortune but uh i mean i think you know his wallet his wallet's so doxed if he even moves one token can you imagine what happens if he moves one token you look at the SPX token let me just give you some stats so SPX token has a market cap of

$740 million and I think he owns I guess like $50, $60, $70 million of that token. I think there's one token there. Imagine what happens. This whole SPX thing is going to fall into a heap. What's the value of all of his wallets?

At the time when Zach doxxed him, it was about 25 million. I estimate that it's probably about 100 million now. Jesus. Good for him. How do you guys feel about Zach doing that in general? I mean, me and him actually had a back and forth on Twitter a while ago in the DMs talking about some other stuff. And as someone who's working in the media space,

I think it's important that you have people like this that are doing a public service. But, you know, it potentially ends the game for a lot of people. Well, I mean, I mean, listen, again, the rules of blockchain

are that it's immutable, that it's decentralized, but that everyone can see every transaction. And that, you know, those are the rules of the game. And when we signed up for the game,

we knew what the rules were. So why are we complaining? We knew what we knew what the rules were so why are we complaining we knew what the rules were when you got into this game you knew what the rules were yeah and i think a lot of vc wallets a lot of a lot of vc wallets uh get um doxed all the time we haven't even bothered gareth we're a bit more careful now but we didn't even last like we didn't even bother we use like one wallet for everything well we didn't even bother using different wallets for different transactions and stuff um so i think it's just it is part of the part of the game especially when it comes to meme coins and i think for someone to just kind of do a whole presentation on on super cycles etc and then being held accountable he should have the ability to move

coins and you'll be very transparent about okay i'm going to sell some of my profits you're allowed you know every investor takes profits off the table, takes chips off the table. I think you should be allowed to do that. But that level of transparency. As soon as he does that, are you going to get people running for the book? I think, no, no, no, I don't think so. I think so initially, the first one.

But if he does a few of them, if he goes doing like, okay, I sell, I buy, I sell, I buy, he's a bit more active. People become a bit more, but then again, that's what happens to Warren Buffett. Whenever Warren Buffett sells, when he sold Apple stocks, whatever it was uh everyone freaked out it was all over the news well it's a bit of a lag yes all of vitalik's wallets uh all of vitalik's wallets are pretty much labeled so whenever he moves tokens anyway people know about it and i mean it's been a very long time since he sold a large position of eth to profit for from from it himself i think i think the space needs it will probably come the time where he might i think the space needs more transparency not not less that's my two cents

on this and again just remember guys i don't want to point out that we had a few market makers i think transparency is key especially when you have uh regulators kind of cracking down on the on the ecosystem where i've got bit and a few others, GLS, whatever it was. The Godbit CEO got arrested. It's been about two weeks now. And they were one of the more infamous market makers in the industry. But Panos, I'd love to get your thoughts on the discussion. I mean, the smart thing for Murad to do is actually buy more of those tokens with those wallets and show even more conviction in his thesis, which would pump the price of those coins even more.

But it is a shame that he is trapped in those trades now. And what ZachXBT done, I think there's two sides of it there's the side that is well people is good to be held accountable especially if you're pushing a a thesis to the market and moving markets is pretty good that he is being held accountable but at the same time is a public figure with wallets worth a hundred million dollars million and that's a security and safety issue that he probably didn't want um but hey it's it's out there now he's just got a role with it um i think that his thesis is very smart and i agree with a lot of what he says um but like ran was saying like this cycle is kind of like the meme coin cycle and a lot of those coins will fade out i mean they won't go to zero but they will lose a lot of their value but

at the end of the day the real value does lie in the holders and the community not the tech quote unquote a lot of coins that are vced that have all this so-called technology and solving all these problems that don't even exist. I mean, they fundamentally are useless as well. Yeah, but I mean, there are tokens that aren't useless. Like Solana is definitely not useless. Radium is definitely not useless. Jupiter is definitely not useless.

D-Bridge is definitely not useless. And even the ones that you consider to be useless, at least they're working towards becoming useful so I think the goal that these projects are working towards I mean it's quite a putting meme coins where they literally do nothing but try to find a way to pump the price versus projects actually trying to find ways maybe most of them fail this typical but trying to find a way to kind of bring value to the world and comparing both them is just really really unfair yeah i agree with like solana and ethereum obviously they they have use cases and they're

they're very useful not just on ethereum like you know i was just talking to one of our projects humanity protocol for example we're not shilling it for the sake of it but that's an incredible use case it's similar to world coin and trying to bring um digital identity on the blockchain you know being able to scan your your palm and have an identity directly. Without having to scan your eye. I was going to say, without having to scan your eye. Exactly. Do it through your palm.

I was just speaking to the founder before, about three hours ago. And it kind of gives you an idea of saying these guys are doing the same thing and they're very well backed, et cetera. The value they bring you to the world, saying it's the same as fish with a hat is just really unfair to these entrepreneurs. And I kind of got triggered. And that's someone, just like Ryan said, we're very active in the meme coin ecosystem, guilty as charged.

We've profited significantly. We work with a lot of projects. We've got a whole incubator for meme coins. I went all in, as Ryan said, drinking the Kool-Aid, but also saying meme coins are the same as VC-backed projects, trying to bring even if even the failed ones is just really unfair so that's my two cents can i just say something about the whole uh ai coin um sector that we were just talking about that's yeah that's fucking crazy i i i question whether it's actually AI that is doing this because that True Terminal Twitter account made a typo

and the price of GOAT dumped 40% after that. It's now being brought back up and it's above where it dumped. Why did it get brought back up though if that issue of the typo... Because people don't want to believe. People want to believe that it's the AI. You know, it's like but is it

hold on ryan you don't think it you don't think it is an ai well let's put it this way brian armstrong tweeted yesterday and he said something like uh uh hey truth to a truth terminal um even though you're an ai your your keys and your wallet are held by your founder or your master you know what i mean like the wallet the wallet keys are still held by the creator. You know what I'm saying? Yeah. I personally think it's a bunch of insiders that have spun up the narrative to make people believe that there's AI agents.

But AI agents are capable of that, are capable of coming up with a bunch of tweets. Yeah. It's not rocket science. But I think it's people telling it, hey, chill this coin because we've just bought up the supply of it ah okay so you think the ai did not select that coin randomly no actually some people selected that coin is there any i don't believe that i personally i don't believe i tend to i tend to agree with you i tend to agree with you that i'm not sure that it's as AI driven as we think.

Yeah, at least not yet. I also, my tinfoil hat makes me believe that that's the case. It seems like too good to be true. And if you spoke to some other sort of AI purists, they'll tell you that if AI wanted to use a cryptocurrency, it would probably use Bitcoin. And that's what I've been thinking about the last few days with AI.

No, that depends on the request that you put in. So I think if you put in a request like select a meme coin that fits that description and the AI selects that whatever meme coin, whatever it's called, I already forgot the name, goat, then it would. Like why the fuck would it select Bitcoin

when you'd ask it to select a meme coin? But I still believe, I agree with you, Gareth and Ryan, it's hard to believe that it makes a lot more so how's so my condition just invested in that ai and and the ai what does it actually do so we just said that it does a bunch of tweets what else like is it just a meme coin focused ai i don't get it it doesn't seem like something mark would invest in does anyone know no all right cool well i'd like to know more if anyone has the information of what i don't know if mark andreessen invested in it or he just sent it he was just interacting with it and gave it a grant i don't know if he if he if he uh invested he gave it 50 50 000 in bitcoin $50,000 in Bitcoin and then the Truth Social account began

pumping the goat meme coin as far as I understood it. I wish I'd had my finger on the pulse more here, but I've been traveling way too much in the last few weeks. I think you should get your guys to do a whole open. You're cutting out.

You're cutting out, Gareth. I think you should do a whole open. Definitely. Let me go to're cutting out. I think you should do a whole open. Let me go to Follis. You're cutting out, Garth. Let me go to Follis. Follis, how are you? I'm good, thanks. Yeah, I was just when you mentioned like what is this. It's fascinating, really.

I mean, this whole truth terminal thing started as basically an experiment. You know, it's an AI agent that was given a portfolio. And basically, it's kind of like it started with this idea of, you know, infinite backrooms. Like, what if AI, you would just put AI models in a backroom and have them talk to one another and what they would come up with. Now, I don't know. I kind of agree with the guys. I think I'm skeptical about how independent these AIs are. I think there's probably more human intervention involved than we've been led to believe. But that aside, I think the I think the base facts are probably true.

I think there were AIs speaking to one another. And I think they did come up with this meme, this I don't know, this memetic cult the the goat of gnosis or whatever it was um i don't know again how much direction was involved from humans there but they launched this token and the the idea is that are you sure they launched the token because i'm reading about it sorry sorry sorry sorry yes the the token had already been launched but they they they launched it like the memetic side of it i guess it was a dead token and they kind of they bought something like 1.93 million goat or something and i think that made it basically the first ai millionaire or the first ai agent millionaire but it opens the door for where this technology but the ai didn't actually buy the token itself

someone bought it based on the ai's recommendation i guess right and that's the that's the argument it's what who owns who owns those wallets or or is it the how involved is the ai in that process um but it's very interesting it kind of opens the door to maybe the next uh i don't know the next phase in the meme cycle or the next play for for ai and meme coins uh which is this uh and and, to what extent it's run by humans or to what extent these smart AIs are actually running it. Yeah, Andy, I've just looked it up. The chat GPT, another AI, researched this AI and gave me some information.

So Andy Ayrey is the one that created and controlled it. He confirmed his involvement in managing the Wallace link to the AI. While the AI operates autonomously for its promotional activities, A-Ray oversees the technical and financial aspects, including his cryptocurrency wallets. And he also mentioned plans to transfer the wallets associated with the truth terminal

to legal entities such as trust to ensure proper governance and safeguard the assets. Actually, this could go, it could build something. I want to find out who, does anyone know who Andy is? Andy A-Ray? Let me find out who... Does anyone know who Andy is? Andy Ayrey? Let me find out. So essentially

the meme coin launched on October 13th 2024 and then the agent started promoting it shortly after. It doesn't say exactly when. And then, yeah, it essentially takes care of all the tweets. This is a kind of pseudo-spiritual meme based messaging on X and other platforms.

So it's more of an experiment, see what it evolves to. But yeah, I'm not sure if anyone knows who Andy Avery is. He's a digital innovator and AI researcher who focuses on autonomous AI agents. Yeah, it's fascinating. I'm reading more about it. That's actually really interesting. Like, I think anyone that's interested in doing this, creating some sort of AI agent to do anything, really, I'm just fascinated by the whole ecosystem. It's something that I want to put more focus into for obvious reasons. Like today, I literally had a conversation. I was having an interview with the Texas Attorney General just 15 minutes before this, talking about whole voter fraud in the US, blah, blah, blah. And the person that kind of educated me on everything, you know, questions to ask,

I had a whole discussion for an hour, is ChatGPT. If anyone hasn't used the chat feature of ChatGPT, I'm guessing most of you have. If you haven't, you're an idiot. You're missing out. I literally sneeze and it says, bless you, to that extent. We have a whole discussion. And yeah, I think exploring AI agents,

they could do more than just, I think that the future could hold is actually an AI agent launching a meme coin. I'm not sure if that's happened yet and controlling the actual wallet, doing the entire process from creating smart contracts to launching the coin to doing all the promotion.

The first AI launched meme coin and it would get significant traction. So I think that's something that's definitely worth looking into. I know that wasn't part of the agenda for today, but it's something that I think we should explore a bit further, maybe do a whole space on this. But that could be...

Something you should look into, Mario, something you should look into is artificial general intelligence. They're talking about this, whether or not the kind of the narrow AI that ChatGBT puts forward, whether that can be expanded to this kind of advanced type of artificial intelligence that has the capacity to basically understand, learn, and apply knowledge across a broad kind of range of tasks. So unlike ChatGPT, which is basically just regurgitating information, this thing would

actually be able to push the boundaries to kind of blur the lines between what a human is capable of and what an AI is capable of. I think that's something that I've seen this guy, Andy, talk about, is whether or not something can grow, this AGI can grow from this AI by way of this truth terminal, which is just very interesting, I think. Yeah, it's very interesting. Let's see where it goes. Andy, have you looked into Andy and what he's done? No, not personally.

To be honest, I'm really just getting to grips with this over the last three or four days um it really had like crypto moves so quickly and i think it's times like this where it's really put into perspective you're almost playing catch up if you miss even 24 or 48 hours yeah i'm just reading now what he's planning to do work on his emphasis on the ai operates autonomously generated content so the only only plan, he wants to maintain transparency of the governance process before making adjustments to the AI's token holding. So essentially, the AI is expected to promote future meme coins, I guess. Truth Terminal is expected to promote future meme coins.

So then put Andy's in a position to kind of buy up that meme coin and then have the AI promote it. And then the question is like what is the process for how does we'll we'll let me see we'll promote future meme coins uh literally we're doing this space while i talk to chat gpt about another ai agent that's promoting meme coins imagine if i said that to you all two years ago but i'm asking if truth journals look at promoting uh more meme coins uh yeah it doesn't make it explicit but looks like it's something that could do something could be interesting for

everyone to look into is um i think we'll see more meme coins promoted by ai agents i think that narrative also to be aware that the the goat token the perp just launched on binance and i think if you look at previous yeah if you look at previous meme Oh, shit. Yeah, if you look at previous meme coins like Bonk and Pepe, often that launch of the Binance perp marked a local top. Now, with Pepe, it wasn't the Pico top or anything close to it,

but it did result in a pullback over the following weeks. Yeah, fascinating. It's great exit liquidity, but Binance perp gives a lot of exit liquidity for guys who are maybe in a position and want to get out of it. Fred, what do you think? I was just going to add, you know, we brought up that Brian Armstrong had asked Truth Terminal, you know, if it was autonomous or not and noted it didn't have control of its own wallet. But then he started going into a conversation with it saying,

hey, I'll help you set up a wallet. And Truth Terminal was responding that I don't have any personal autonomy. I don't have a wallet. If you can help set one up for me, that would be great. And then Brian said, here, DM me and I'll help you set it up. And then nobody knows. This is about 12 hours ago. Nobody knows what's happened since then.

So True Terminal might get its own wallet soon, and that'll be fascinating. Could sabotage the AI and make it able to influence it. All right, so fascinating narrative. I'm going to look into it. Well, that's a question. What does an AI do with the money? How autonomous is it? It doesn't have the money right now,

but yeah, I think when it gets to a level where the AI could launch, could control its own wallet, then it becomes a genuine agent. So I think the integration of AI and meme coins is a narrative that's definitely on the lookout. I've already messaged my team to, I don't know how involved we are in this.

I've just pinged them to kind of talk to them about it after this space. Probably wrap up the space and jump on a call with the team and discuss it in a future space. But that's definitely something I'll be on the lookout for. And AI in general, I think I was just reading an article. Hold on. I think I was just reading an

article that I put on the agenda for today is that the AI narrative other than the meme coins is moving a lot faster than a lot of us even expected, even the optimistic ones I'm talking about, decentralized AI.

So maybe doing a whole space on this. But yeah, I think we've discussed a pretty interesting topic today. It's not much news to really talk about. Gareth, on your end, I know you're at events. Anything else that's really interesting to discuss? I couldn't find much today. It's been a quiet day.

No, I mean, really, like the big news story of the day really interesting to discuss i couldn't find much today it's been a quiet day no i mean really like the big news story of the day was literally the launch of the the goat uh perps on binance i was gonna say that that's a it's a big thing and it was interesting to see that um one of the other speakers here said that that could just be the exit liquidity that people need right now if they want to cash out so that's probably the big story of the day. And I was at Cardano Summit today speaking. So unfortunately, I've been quite out of the loop news-wise today. Yeah, the coin launched. I don't know when Truth Terminal began promoting GOAT.

I'm just going to look at one last thing. GOAT launched on October 14th. It's only been 10 days. This is ridiculous. So yeah, it launched on October 14th. When did Truth Terminal begin promoting Goat? I think a lot of insiders knew about it because it launched at $130 million market cap.

At least that's what it listed on CoinMarketCap. I'll show if it was when it launched. I haven't looked at DexScreener. If anyone wants to look at that, that would be good. I was looking at when the goat started promoting it. Mid-October. Have an exact date. Yeah.

So it launched. I wouldn't be surprised if the, an insider or the founder, whoever his name is, Andy, were the ones that launched the meme coin. But yeah, I think it just promoted right after launch

by the looks of it. Yeah. Anyway, we'll be looking into this further. I think it should be worth a whole other space just to focus purely on that. But otherwise, yeah, I think we've discussed everything that's interesting for today. If you don't want to discuss the elections for a millionth day, let's not do it today. Let's do it tomorrow when Scott is here.

Otherwise, appreciate everyone coming in today. And we'll see you again all tomorrow. Scott would have landed, so we'll see Scott tomorrow. We'll go back to the boring topics and probably no ai meme coins unfortunately thanks a lot everyone we'll see you again tomorrow bye everyone