Meme Coins

“That's our goal is to come out with rules that differentiate between what's the stock, Security, and what is a commodity where the CFTC, the Commodity Futures Trading Commission, can oversee. So meme coins and all that, and stable coins, those are not for the…”

“I mean, it's like watching some of these IPOs, they're like meme coins now. Bam, they take off, and then it's musical chairs to see who can get out the last but first, right? And if you don't get out first, or at near the beginning, you're getting crushed, you…”

“At this point, most, but I think Ethereum has probably the most valuable ones, but by sheer number of launches per day, I think it's like, was peak over a 100,000 per day. I think it may be like 20 to 50,000 right now.”

“It costs like 20 cents to like create a meme coin because it is just sending a message, right?”

“When you start thinking of this consumer products and communities and memes you want to drive, there's all this like pretty basic infrastructure that's like shockingly bad or doesn't exist yet.”

“I think it'll be a growing phenomenon. I don't know If meme coins specifically are the mechanism, but I think that like pricing in people, it's definitely a growing trend.”

“But I don't think they're going away. So today meme coins are five percent of total crypto market cap. I think they'll always be here because investing is inherently about feeling like you're part of a community.”

“So today meme coins are five percent of total crypto market cap.”

“The premise that like investing in crypto that like investing in meme coins, which is the primary use of Solana is somewhere along the land space travel in the same conversations. Like we built the railroads, we landed on the moon and we trade coins on Solana.…”

“If you let these kids trade, they will figure it out over time, and then what happens is, like you, they get married, they get a baby, they want to get a house, and then they say, you know what, I'm going to stop buying meme coins, I'm going to start buying Bi…”

“Meme coins are dead as a category.”

“The 20, 25 version of the tools and the infrastructure around this stuff is so dramatically better than like the early NFT, which was also an attempt at doing narrative investing, but it was a pretty bad attempt at narrative investing. This is like a much more…”

“And it had about as much tech as a meme coin.”

“If you look at all of these, right, the general trend, and you can talk about like mini pumps in between or whatever, is that they've all like traded like a 10th or a quarter of where they peaked out briefly, right?”

“Interestingly, I actually have no formal way to prove that, right? Because it's reasonable. And I was like, because he's like, could I have in theory created other wallets and been the one that made it moon and then sold it? In theory, I guess I could have, an…”

“You buy a meme coin to become part of a community. And by buying into that community, you make the community more valuable.”

“No, I also saw that the Taliban have been trading meme coins.”

“Meme coins are the new American lottery. For the terminally online.”

“There's a meme coin with no underlying value that four days ago was worth nothing and is now worth three hundred million dollars, right?”

“All generated by the marketing of an AI bot.”

“And by the way, it's a meme coin, so it has exactly zero underlying value.”

“Memes are, you know, can have value and meme coins can definitely have value in the sense that, you know, that it's sort of a virtual good. It's a little different, you know, it's a different, it's a new kind of virtual good in that you know, they're very fung…”

“There's, you know, there's like, I don't know what the number is, tens of thousands or something of new meme coins being generated every day right now.”

“This is the thing that you were actually allowed to do today right, is to actually have a valueless meme coin that's worth three hundred million dollars.”

“You know, meme coin is just an utterly stupid Token. It has no purpose by design.”