Why Memecoins Have Been 2024's Most Profitable Crypto Trade: Ansem and Kelxyz - Ep. 641

Unchained

Laura Shin

News, Tech News, Business News

4.5 • 1.3K Ratings

🗓️ 7 May 2024

⏱️ 77 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode of Unchained, memecoin traders Ansem and Kelxyz unpack everything about memecoins, discussing what makes them valuable and how they evaluate their investment potential. They also address the criticisms and controversies surrounding them, including racism and sexism. (They have a surprising reaction to the latter.) Ansem and Kel argue that memecoins have substance and value, largely due to their popularity and the attention they receive on the internet. They also discuss the importance of distribution and virality in the success of a memecoin, how the chain any coin is on affects its value, and give their opinions on Runes vs. BRC-20s vs. Solana and Ethereum. Plus, they talk about their wildest memecoin stories (think: Dogwifhat) and provide their insights on what they think memecoins will become in the future. Show highlights: Ansem’s and Kel’s investment theses around memecoins How Ansem and Kel got into trading memecoins and how they evaluate their potential Why the coin distribution matters and whether tokenomics is important with memecoins How to discern between memecoins with genuine vs. fake interest How memecoins differ across blockchains such as Solana, Ethereum, and Bitcoin Ansem and Kel’s responses to the criticisms of memecoins Whether and how memecoins could become safer for users Kel and Ansem’s surprising reaction to racist and sexist memecoins Ansem's story on WIF and how a female friend of his fueled its popularity Whether Bitcoin is “the original memecoin" and how they define memecoin The future of memecoins and how they believe all memes will become coins Thank you to our sponsors! Polkadot VaultCraft Guests: Ansem Kelxyz Links Culture: What else could memecoins be? by Vitalik Buterin How bad policy favors memes over matter by Chris Dixon Cointelegraph: Meme coins: Betrayal of crypto’s ideals… or its true purpose? CoinDesk: The Memecoin Grift and How It Threatens Ethereum Culture Investment: CoinGecko: Top Crypto Narratives Gained 39% to 1313% in Q1 2024 Messari: Navigating Memecoin Mania Kelxyz investment strategy Decrypt: Crypto Influencer Ansem Explains His Meme Coin Thesis and Why He’s Bullish on Bitcoin Runes Unchained: What Is Dogwifhat (WIF) and Why Is It Up so Much? Safer memecoins Unchained: Half of Solana Presale Tokens Rolled Out Between November and February Were Malicious: Blockaid Study Cointelegraph: 1 in 6 new Base meme coins are scams, 91% have vulnerabilities Andre Conje’s proposal Racist memecoins Unchained: Offensive Memecoins Proliferate on Solana, Sparking Debate Crypto.news: Ethereum's Buterin slams Solana's racist meme coins, urges better projects Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	I go live on Twitter just randomly I'm like talking to my boy we're talking
0:03.9	about crypto I'm talking to crypto Twitter and all that stuff and I ask like on live
0:08.0	like you know like what your favorite meme like what meme should we buy my boy
0:12.2	goes bonk my other friend goesk. I don't know what I said. I think I might have said
0:16.1	I might have said bonk too. And then the girl I was with goes dog with hat and I'm like,
0:22.0	wait what? Because in my head I was expected to
0:25.0	like those or something but she's like no dog with hat and I turned the camera
0:29.5	to her I'm like wait say that again and she's like dog with hat and it's a clip on my Twitter because immediately
0:35.2	when she said that everybody who was watching the live stream went and looked at the coin and
0:39.4	started buying the coin.
0:41.2	Hey all I'm excited to share some news with you.
0:43.8	Unchained is launching a crypto and macro podcast.
0:46.7	On May 8th, we'll publish the first episode of Bits and Bips, exploring how
0:51.3	crypto and macro collide, one basis point at a time.
0:55.0	I've been wanting to do a show like this for a while, and I'm happy it's finally coming to
0:58.3	fruition.
0:59.3	Throughout this episode, we'll play moments from the most recent rehearsal.
1:03.0	The first clip is from host Joe McCann,
1:05.0	founder, CEO, and CEO of Asymmetric,
1:08.0	speaking about the recent Fed decisions
1:10.0	and their impact on the crypto market.
1:12.0	There's a lot of path dependency here, which is why it's on the tail,
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Laura Shin, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Laura Shin and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.