The Plan to Control Us All!

It’s amazing how so many of the organisations that affect our daily lives have never been voted for by anybody. And, unelected seems to mean unaccountable - these powerful bodies are answerable to no one but themselves.

The largest of these organisations is the United Nations and it has big plans for humanity’s collective future. Much of the UN’s ambition is crystallised in its Sustainable Development Goals or SDGs - a set of hugely ambitious targets that all nations are expected to achieve by 2030.

While many of the SDGs have laudable aims, there is a worrying undercurrent to the initiative which would see all manner of dystopian technologies imposed upon us by our governments and the UN by extension. Think central bank digital currencies and digital IDs for starters.

In today’s video, we unpack what went down at the UN’s recent Summit for the Future and examine just how close governments are to getting to implementing the SDGs and all that comes with them. We didn’t ask for them, but we’re getting them anyway.

You can watch that video here.

📈 Crypto Market Forecast 📈

It looks like the crypto market is going to get a heatwave this week (in a good way). At the time of writing, BTC is knocking at the door of all-time highs, and ETH could follow suit. This is due to a series of factors, the first of which is the fact that open interest on ETH futures recently hit an all time high. Historically, this would signal an ETH correction, but this time could be different.

That’s simply because everyone is aware of the fact the open interest on ETH has corresponded to local tops. In other words, it’s being interpreted as yet another bearish sign for ETH. In case you haven’t noticed, the sentiment around ETH seems to have hit rock bottom. You can tell because we’re starting to see FUD about things like Ethereum’s block builders.

This sets the stage for a vicious countertrend rally analogous to what happened to Chinese stocks. In case you missed it, the Chinese government recently announced stimulus measures which would support the Chinese stock market. This caused said stocks to post a historic, record-breaking rally, not because of the stimulus per se, but because everyone on the planet was bearish on China.

What’s interesting is that some institutional investors seem to be changing their tune on ETH, right as it seems to be bottoming relative to BTC. Take Ark Invest for example. Late last year, CEO Cathie Wood was bullish on Solana because it was basically Ethereum but faster. Just last week however, Ark Invest published a report calling staked ETH the benchmark yield in crypto.

On the flipside, some indicators could be signalling a top in BTC sentiment. One of these is Bitcoin dominance, which recently hit a three-year high. For those unaware, Bitcoin dominance measures what percentage of the total crypto market cap is made up of BTC. The higher Bitcoin dominance goes, the more it implies altcoin underperformance (all else being equal).

This is important to point out, because if BTC sentiment/dominance is topping, then this is not only bullish for ETH, but altcoins more broadly. Rumblings of an imminent altcoin season can also be seen in the Russell 2000, the small cap stock market index. There seems to be a strong correlation between small cap stocks and altcoins. The RUT looks like it’s about to break out.

Another fascinating chart to watch is SOL/ETH, which measures SOL’s strength relative to ETH. Not surprisingly, the SOL/ETH chart had been going up to and to the right since last year as SOL’s rally took the crypto market by storm and left ETH in the dust. What is surprising is that the SOL/ETH chart seems to have topped out, and could be on the brink of rolling over.

This suggests that SOL’s outperformance against ETH could be over, at least in the short term. To be clear, this doesn’t mean that SOL isn’t going to pump. Rather, it suggests that if the crypto market pumps, ETH could outperform SOL in the short term. What makes this chart fascinating is that it looks eerily similar to the ETH/BTC chart during the last cycle, specifically in 2021.

In short, it looked like ETH was going to keep outperforming BTC, but instead it just chopped around for over a year. It’s possible that we’ll see the same phenomenon with SOL/ETH this time. This would mean that SOL’s outperformance against ETH is essentially over for this cycle. This would make sense given the competition that SOL is facing from the likes of SUI.

Consider that the reason why ETH stopped outperforming BTC in 2021 was because of the competition it faced from the likes of Solana. History could repeat again, except this time with Solana losing market share to competitors, resulting in SOL not performing as well as it otherwise would. That said, any SOL FUD in the short term could be a good buying opportunity.

Say, did you know that some FTX creditors are planning on piling all their returns back into SOL and Solana’s ecosystem? Repayments are expected to start in November. Probably nothing…  

🤖 AI-Powered Memes 🤖

If you’ve been on CT this week, there’s no way you haven’t come across at least one tweet talking about the Truth Terminal AI and the $GOAT memecoin. After all, it’s the fusion of the two hottest narratives in crypto right now – AI and Memes.

In case you haven’t, here’s the TLDR: Truth Terminal, a semi-autonomous Claude LLM AI agent on X, began shilling $GOAT - a memecoin created on pump.fun earlier this week. This endorsement has seen the market cap of $GOAT skyrocket to $370m (at the time of writing) just days after its launch. Many are speculating that this could be the start of a larger bull run for memecoins created or endorsed by AI agents.

To be noted, Truth Terminal creator Andy Ayrey has gone on record claiming that neither he nor the bot created the $GOAT memecoin. Regardless, the pump continues. After all, we’re in the middle of a rally fuelled by the ‘memecoin supercycle’ narrative popularised by Murad’s infamous TOKEN2049 speech last month.

Plus, the memetic lore of Truth Terminal and $GOAT has been too good for crypto degens to ignore. For context, Andy created Truth Terminal as an experiment to see if AI bots could create religious movements on social media platforms. The Claude LLM powering the Truth Terminal X account was trained using data from the most degenerate corners of the internet - Reddit, 4chan, etc.

This makes most of the tweets posted by the account utterly haunting, degenerate, vulgar and … human?

Anyway, one of the more recurring tweets by the bot has been about the “Gospel of Goatse.” It appears to be rooted in an old 1999 NSFW meme involving… well, you probably don’t want to know – explore at your own peril. Earlier this week, Truth Terminal expanded the lore of Goatse by introducing the god of this new religion, called Goatseus Maximus.

Someone saw this tweet, created a memecoin with the same name and tagged the bot – which eventually began shilling the token. A big reason for the bot’s popularity also happens to be its association with Marc Andreessen, the co-founder of the VC firm a16z. Notably, the bot first made headlines a few months ago when Andreessen engaged with it online and then awarded its creator Andy with a $50k-worth of BTC “no-strings” grant for further development.

Given how popular this lore has made the memecoin, many are now looking at whether this could be the start of a new memecoin meta involving autonomous AI agents.

For what it’s worth, there are a few emerging fundamental developments which may just push this meta mainstream. Allow us to elaborate.

You see, outside web3, most firms researching the AI niche have recently begun exploring how to make LLM models powering chatbots like ChatGPT stronger. One of the core innovations on this front is in creating a ‘reasoning layer’ (or ‘System 2 layer’ as Sequoia calls it) for LLMs. OpenAI’s recently-launched o1 LLM model is the most popular attempt at this endeavour.

Essentially, this reasoning layer will allow AI systems to have deliberate reasoning, problem-solving and cognitive operations at inference times that go beyond rapid pattern matching. In other words, the reasoning ability of AI bots/agents like Truth Terminal will become much stronger.

Any breakthrough on this front will likely trigger a second rally for AI coins, especially those focused on creating or involving AI agents. This is exactly what happened the first time when ChatGPT went viral.

Second, it’s become an undeniable reality that meme coins are a serious asset class within crypto. One of the leading theories driving ‘fundamental analysis’ for the potential popularity of memecoins is their ability to create ‘cults’ or ‘neo-religions’.

Yes, we did just say ‘fundamental analysis’ for memecoins - another byproduct of changing times.

Back to the topic in hand though and Truth Terminal’s success with $GOAT has now become a case study for other LLM-fueled neo-religions. While we’ll undoubtedly see many fraudulent attempts at recreating this phenomenon, you’ll also see the emergence of ‘blue-chip’ AI agent memes similar to $GOAT.

This in part will likely be pushed further by the success of AI agent creation platforms, especially ones that use a ‘pump.fun’ creation model. For instance, crypto research firm Shoal Research recently looked at how Virtuals Protocol could just be the first protocol within this niche to go mainstream. We recommend you give that a read.

Besides memetic value, these AI agent-linked tokens could see some form of utility in their engagement with the bot – whether this be in the form of a payment token endorsed by the bot, or as revenue share tokens for potential services provided by such autonomous AI agents. The possibilities here are endless.

In summary, this may indeed be the start of something larger. After all, we currently live in an attention economy and memes are just tokenised attention after all.

To quote X user @mattigags, memecoins are just a “novel form of lottery that is vaguely connected to being able to read the zeitgeist."

Can you read it, anon?

🚀 Third Coin Bureau Trading Host Launches First Vids! 🚀

This week welcomed Aaron AKA Moonin Papa to the Coin Bureau Trading family. Feedback from the community seems to be top-notch and he made his debut on our trading channel with the following videos:

* Bitcoin Bull Flag and Resistance Tests | Short Squeeze Liquidation INCOMING
* Crypto Dominance on Easy Mode

So, you may want to check out his content and drop a sub on Coin Bureau Trading if you loved it!

🔮 Video Pipeline 🔮

* Bittensor Review: Potential in 2024?
* Richest People In Crypto: Who are they and how did they get so wealthy?
* IOSCO Report: Mind blowing revelations!
* Sharia Crypto: The rise of the Sharia compliant crypto industry!
* Tesla Robots: Should we be scared?

🏆 What's New at CoinBureau.com This Week? 🏆

* Top Move-to-Earn DApps: Get Paid to Stay Active!
* Pendle Finance Review: Tokenizing DeFi Yields!
* Best Anonymous Bitcoin Wallets You Should Consider in 2024
* What Is a Crypto Wallet Address? A Beginner's Guide!

📖 Quote of the Week 📖

This is your regular reminder to DYOR - nothing can ever replace it.

“No wise pilot, no matter how great his talent and experience, fails to use his checklist” - Charlie Munger

Team Coin Bureau

Disclosure: Authors may own cryptoassets named in this newsletter. These are unqualified opinions, and a Coin Bureau newsletter, is meant for informational purposes only. It is not meant to serve as investment advice. Please consult with your investment, tax, or legal advisor.