The Evolution of Meme Coins and Bitcoin Trading

Speaker 2
Do you remember when you can only buy Litecoin, Bitcoin, and Ethereum on Coinbase? Yeah, yeah, yeah.
Speaker 3
That always makes me laugh over the years where we see all these regulatory exchanges launching. What was the one with the Steven Seagal looking guy? And it's always like Litecoin, Ethereum, Bitcoin, and Bitcoin Cash. Like the first thing being offered, this is a pre-Trump, of course. You're like, why would anybody want those? But apparently they're the ones that had regulatory clarity in the past. I don't know if you guys saw this, by the way, but we're going to move on from meme coins. But the Central African Republic literally launched a meme coin that's down 97% in two days. Well, I am shocked that that happened. I can't believe it. I can't believe it. You got Dave Portnoy like pumping. You would say pumping and dumping, but apparently he's pumping and getting dumped on. But like this is just this is all anybody wants to do right now outside it's the biggest
Speaker 4
it's the biggest casino in the world i think there was 26 billion dollars traded in solana meme coins in the last 24 hours 26 billion dollars i mean that's that's a i and i will say this i think there's a day of reckoning coming in coming for meme coins, because I would venture to guess that more than 50 percent of those participants are under the age of 18. That's just a guess based upon what I see on social media. But if it is and regulation is able to, you know, kind of put a gate on those doors, meme coins are in for a real, awakening from a from a hurt perspective i don't think they're going to survive very long if they don't have the youth you know participating in and kind of i
Speaker 2
don't even think that's the biggest issue for them right now i think the biggest issue is if you just look at the cycle time on meme coins we've come from like the cycle time being a week to three days to i think 90 percent of and even the successful ones i'm talking about like the random crap we're talking yeah we're into hours we're into like sub 18 12 hour entire cycle time and i think people just are gonna get burned out on and the other thing is the whole point to mean coins like look even so in the heady days back of like the election days you know when i bought like peanut coin i at least got like three days worth of enjoying that and that mean of it and so that's like i also made money on that one but even if i'd lost it like it would have been worth it for the fun and now it's if i only get 12 hours on it that's not really worth the the you don't get the same feeling okay
Speaker 3
but alex this is a sarcastic and serious question okay first of all we we you're a builder right you're building on bitcoin you've been doing this before building on bitcoin was a trend are we going to see like pump.fun
Speaker 2
on bitcoin i mean so why haven't you built it um there actually is already kind of some there's odin now which is basically doing this with runes and stuff and actually very interestingly because of uh the guy who built bob bodily who great follow if you want to um learn lots about just how stuff gets built on bitcoin um and one of the things they did is a lot of it actually starts off chain because obviously bitcoin 01 doesn't have the capability to run fast enough to like do the meme coin cycling thing um so he's doing a lot of that with runes on odin.fun but again i think bitcoin's it's not um it doesn't have the bitcoin world doesn't have the right audience for what it is right like it's the reason this is all happening like that's where all the dgens went well
Speaker 4
i think i
Speaker 3
made the argument i think on crypto town hall yesterday we were making the argument like i think we're at a place now where 99 of the people trading memes on solana don't and have never and will never own bitcoin it's just a completely different place it
Speaker 1
depends on you know we've gone through cycles where people start with altcoins and then they get a little bit more serious a little bit more serious. And then they end up with most of their portfolio of Bitcoin because they realize that's the only long term play that's meaningful and has a case, you know, for long term upside for all the reasons associated with Bitcoin. I think we go through that cycle again. And I think we go through that cycle a little bit faster than we did before, because of what Alex just described. You can't be in something that lasts for three days or four days, and now it's four hours. Remember that, you know, a good portion of this understanding of being online and generating returns online started with GameStop, you know, let's call it three and a half years ago. And in that time period, all of that happened inside of about a four-month period. So we've gone from four months of parabolic craziness down to four days of parabolic craziness, down to four hours of parabolic craziness. Ergo, it would only make sense that the move away from craziness and stupidity into Bitcoin probably is a shortened half-life as well. At least that's my particular thesis.

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