With the recent launch of the TRUMP Bit, the cryptocurrency market has once again been stirred up. In the latest Podcast, the two founders of the Web3 venture accelerator AllianceDAO, Imron Khan and Qiao Wang, engaged in a heated discussion about the current market sentiment. The connection between cryptocurrencies and AI also became a focus, and the two were critical of the claims about AI leading the development of the crypto landscape.
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ToggleThe TRUMP Bit tug-of-war, is it the end of the madness or the start of a new bull market
The two founders believe that the current market sentiment has become quite extreme. One group of bulls believes that with the stable growth of the global economy, Bit (Bitcoin) as a macro asset still has room for upside. While another group of bears believes that the launch of meme Bits like TRUMP reflects an overheated market, and often occurs at the end of a cycle. "The launch of TRUMP is like the ultimate harvesting machine, historical data shows that such Tokens usually happen at the end of the market." However, the two also acknowledged that the market could still see significant volatility in the short term.
The two are dissatisfied with the "AI driving AI innovation" statement
In addition to the TRUMP Bit, the issue of AI Tokens has also been widely discussed. Some projects claim that the combination of AI and blockchain can lead technological development, but the two said that most AI Token projects are actually heavily reliant on open-source AI models from OpenAI, Google, Anthropic, etc. Not only is the innovation potential limited, but they also attract too much market capital. The two directly stated: "Most of these projects are short-term hype and do not truly drive technological progress."
The impact of the TRUMP Bit, is it an industry driving force or a market disaster
Although the launch of the TRUMP Bit has attracted a lot of attention, the controversy continues. The two believe that while the TRUMP Bit has brought liquidity to the crypto market and unleashed the potential of DeFi, nearly 80% of the Token supply is controlled by the Trump team, and the harvesting behavior is quite obvious, which may damage the credibility of the crypto industry. The two stated: "The TRUMP Bit feels like an open extortion of the crypto industry, although it may be able to promote adoption in the short term, there are still risks in the long run."
Celebrity Tokens and future prospects, industry players need to adhere to their original intentions
With the growing heat of the TRUMP Bit, the market has also sparked discussions about the model of Celebrity Tokens. The two pointed out that the market is currently exploring more Token economic models, such as time-based Tokens and the creator economy, but a healthier mechanism needs to be established to avoid excessive hype. "The TRUMP Bit may provide a precedent for future Celebrity Tokens, but this model may currently have negative impacts, and future designs need to be more transparent and oriented towards sustainable development," the two emphasized.
Although the TRUMP Bit and other emerging Tokens have generated a lot of heat, the industry has also begun to reflect on the core values of the crypto industry. The two also called for a return to the principles of "enhancing freedom" and "eliminating malicious behavior", and support more practical products like stablecoins.
Risk Warning
Cryptocurrency investment is highly risky, and its price may fluctuate dramatically, you may lose your entire principal. Please carefully evaluate the risks.
