Zeke Faux

network like ethereum or solana where it's like a place where people are creating other crypto things and when you buy one of those coins you're kind of buying into the network and you get a share of its profits so that's almost like buying into like a crypto bank kind of right like it's like it's like investing in a stock for a bit or an exchange or a bank essentially

network like ethereum or solana where it's like a place where people are creating other crypto things and when you buy one of those coins you're kind of buying into the network and you get a share of its profits so that's almost like buying into like a crypto bank kind of right like it's like it's like investing in a stock for a bit or an exchange or a bank essentially

network like ethereum or solana where it's like a place where people are creating other crypto things and when you buy one of those coins you're kind of buying into the network and you get a share of its profits so that's almost like buying into like a crypto bank kind of right like it's like it's like investing in a stock for a bit or an exchange or a bank essentially

Yeah, some of them are a lot like that. Like Sam Bankman Freed had one that was called FTT. That was basically just stock in his crooked exchange FTX. But at the silliest end, we have, and which is one of the most popular things in crypto right now, are meme coins. And the first one of these was called Dogecoin. And it's also like...

Yeah, some of them are a lot like that. Like Sam Bankman Freed had one that was called FTT. That was basically just stock in his crooked exchange FTX. But at the silliest end, we have, and which is one of the most popular things in crypto right now, are meme coins. And the first one of these was called Dogecoin. And it's also like...

Yeah, some of them are a lot like that. Like Sam Bankman Freed had one that was called FTT. That was basically just stock in his crooked exchange FTX. But at the silliest end, we have, and which is one of the most popular things in crypto right now, are meme coins. And the first one of these was called Dogecoin. And it's also like...

more than 10 years old, it was created as kind of a parody of Bitcoin. And it was saying, we're going to copy Bitcoin, we're going to change the name, we're going to put a picture of a dog on it. And It turned out that, I don't know if you think this is a funny joke, but it turned out enough people did think this was kind of interesting that they started to buy it.

more than 10 years old, it was created as kind of a parody of Bitcoin. And it was saying, we're going to copy Bitcoin, we're going to change the name, we're going to put a picture of a dog on it. And It turned out that, I don't know if you think this is a funny joke, but it turned out enough people did think this was kind of interesting that they started to buy it.

more than 10 years old, it was created as kind of a parody of Bitcoin. And it was saying, we're going to copy Bitcoin, we're going to change the name, we're going to put a picture of a dog on it. And It turned out that, I don't know if you think this is a funny joke, but it turned out enough people did think this was kind of interesting that they started to buy it.

Unlike a stock or unlike one of these ones where you're buying into a network that generates fees with Dogecoin or other meme coins, there's no way for it to ever generate any money. You're purely buying it on the idea that somebody else might buy it. also for no reason, driving the price up higher. It's kind of like a new form of gambling game. And in the last couple of years,

Unlike a stock or unlike one of these ones where you're buying into a network that generates fees with Dogecoin or other meme coins, there's no way for it to ever generate any money. You're purely buying it on the idea that somebody else might buy it. also for no reason, driving the price up higher. It's kind of like a new form of gambling game. And in the last couple of years,

Unlike a stock or unlike one of these ones where you're buying into a network that generates fees with Dogecoin or other meme coins, there's no way for it to ever generate any money. You're purely buying it on the idea that somebody else might buy it. also for no reason, driving the price up higher. It's kind of like a new form of gambling game. And in the last couple of years,

Thousands of these meme coins, maybe even hundreds of thousands of these meme coins have been created. People are just pumping them out. And there are all these traders that are kind of have they've made it a game to chase like the new meme coin. And if you get in early, the goal is to get in before the masses and then profit when the price spikes and sell it before it inevitably collapses.

Thousands of these meme coins, maybe even hundreds of thousands of these meme coins have been created. People are just pumping them out. And there are all these traders that are kind of have they've made it a game to chase like the new meme coin. And if you get in early, the goal is to get in before the masses and then profit when the price spikes and sell it before it inevitably collapses.

Thousands of these meme coins, maybe even hundreds of thousands of these meme coins have been created. People are just pumping them out. And there are all these traders that are kind of have they've made it a game to chase like the new meme coin. And if you get in early, the goal is to get in before the masses and then profit when the price spikes and sell it before it inevitably collapses.

Well, true. I think the kind of twist is that In your classic pump and dump, like Jordan Belfort, more of the people that Belfort... When he was calling people, he was saying, hey, this stock is hot. They just discovered gold in Bolivia. It's going to go up. And so there was this element of lying about the prospects of this company. So people were being defrauded that way.

Well, true. I think the kind of twist is that In your classic pump and dump, like Jordan Belfort, more of the people that Belfort... When he was calling people, he was saying, hey, this stock is hot. They just discovered gold in Bolivia. It's going to go up. And so there was this element of lying about the prospects of this company. So people were being defrauded that way.

Well, true. I think the kind of twist is that In your classic pump and dump, like Jordan Belfort, more of the people that Belfort... When he was calling people, he was saying, hey, this stock is hot. They just discovered gold in Bolivia. It's going to go up. And so there was this element of lying about the prospects of this company. So people were being defrauded that way.

In this case, you've got people like... Dave Portnoy from Barstool Sports being like, hey, I just created this dumb coin. It does not do anything. It'll probably collapse eventually. Do you want to buy some? And people have sort of organized themselves into this kind of pack of degenerate gamblers who move from meme coin to meme coin and try to make money on it.

In this case, you've got people like... Dave Portnoy from Barstool Sports being like, hey, I just created this dumb coin. It does not do anything. It'll probably collapse eventually. Do you want to buy some? And people have sort of organized themselves into this kind of pack of degenerate gamblers who move from meme coin to meme coin and try to make money on it.