Launchcoin & Believe | ETH's 50% Candle | Coinbase Listed on S&P 500 | Jon, Bread, & Andy8052

Welcome back to the Bankless Roundtable. Back with me here today with the man with Glutinous Glutes Zero X Bread Guy. Good to see you, my man.

Hey friends.

Crypto's chief lowercase R researcher, John Charbonneau. Welcome back.

That's going.

And at at least and last but not least, the world's most Zen DGEN Andy 8052. It's good to see you.

Good to see you too.

Pretty uh last week we were talking about how you know we started these episodes, it got pretty quiet. This week was not one of those weeks. We have quite a lot to talk about, so we're gonna move pretty fast here. We got ETH almost at 50% up on the seven-day 50% weekly candle, and then some post-pectra conversation as well. There's this thing going around that people are memeing about internet capital markets, this believe app, this launch coin. People are making consumer apps and slapping tokens onto them. We're gonna talk about that. Coinbase has joined the SP 500, it's also acquired DeraBit. And then Robinhood is CTOing a layer two. Apparently, they've got a ZK Sync layer two now that the news just came out just before we started recording. And then if we have time, which we probably won't, maybe we can squeeze in some stripe and stable coin conversations. But before we kick off this episode, I would like to throw it to John. In order to get this episode started, John, I'm gonna need you to say one nice thing about Ethereum.

Do I do I get something nice from you about Bitcoin or Solana after?

Sure. Yeah, I'm happy to do play this game.

You can take your pick of the two.

Okay.

Uh

the one I'll go with for Ethereum is still the most reliable chain. If I if you told me I gotta put some money on a chain, so I'm I'll go I'll go with USDC because like Neutral can be out in a bunch of different chains. And I gotta leave my money there for 10 years and I gotta go get it back in 10 years and throw away the keys in between and go get it then. I'm I'm picking Ethereum still.

Okay. I love it. Like I I I promised some people on the timeline that I have to like defend or be be the counterfactual to a lot of your your debates because for

you. Yeah. Well, so like well, yeah, our delivery is the is the difference, which I respect the game.

Mm-hmm.

You you catch a lot of a heat. I think we have the same general positions.

They they I saw some people on the time that are like, oh, I'm not even gonna listen because John's there and like I can't stand it. And I was like, well.

If you're if you listen in, you'll know that like as David has alluded to, it's probably gonna be like a Bitcoin L2 fight

for between he and I for the vast majority of the stuff. So if you guys hate some of the the thing his stances, like you're probably gonna see some uh back and forth.

Yeah. Yeah, yeah. I think I've I've caught some flack, John uh from the uh ETH uh diehard.

The inner circle.

Uh the E ETH inner circle, yeah. Uh-huh. And

The way the way I say this is like John is something, somebody representative of somebody that Ethereum needs to convince. And he, as a rational investor, is open to being convinced. And as soon as we as the Ethereum community convinces John that ETH is a good buy,

that that to me is good signal. Yeah. Yeah. Yeah.

I chaotic good. That's how I chaotic good. I would qualify you as chaotic good.

Yeah.

I'll happily take that. That's the goal.

Okay.

All right. My my nice thing. Can I I'll do both Bitcoin and Solana? Can I can I do two things?

My first nice thing about Bitcoin and Bitcoiners is that their vision for the Bitcoin asset, which many of them articulated back in as far back as I can remember in 2017, 2018, that has played out to a T. They're like, we're gonna meme Bitcoin into the central banks of of governments. And back in 2018, I'm like, you guys are fucking crazy. Like there was no way that that's happening. And that is

You see, did you see Jack Muller's little recent interview where he was like in his closet that was totally totally empty?

always empty. Why is it always empty?

Yeah. It's a cathedral of a closet. And it was bare bones. And yeah, he's just talking about like Bitcoin is not even it's not a a fix. It's not a hedge against inflation. It is the solution. Like it's like just it's like the the max of the maxies. It's just it's it's respectable that you held it for this long and you willed it into existence.

Mm-hmm.

Uh so that's my nice thing about Bitcoiners. And then my nice thing about the Solana camp. I'll say I'm I'm writing an article. I think a handful of you guys have have read it that comes out, it'll come out tomorrow. And it's about like, oh, what are the strategy shifts that Ethereum should do and what we should what we should think about and how we should execute this like you know pivot for Ethereum. And I'm like, yeah, a lot of this is just taking leaves out of Solana's playbook. Just like integrate the layer twos, bring them closer to the layer one, talk about the layer one, push everything onto the layer one. And I'm like, yeah, yeah, that sounds like I I've heard these words before.

Yeah, although that like I would say that's not even a design intention from Solana. So I would say like, yes, it is, it looks like where Solana has ended up, but it that was not like the design goal, right? Solana's just like, we're gonna make Solana big, we're gonna make Solana valuable, we're gonna make Solana fast, we're gonna make Solana whatever. And then everyone else tacked on to Solana, the ecosystem, and just like, all right, well, you know, if they're gonna not seed any ground on that, we have to come in elsewhere. We have to like be a network extension, is obviously the meme that that was formulated. And it's like, okay, we have to cover ground that they're not going to give to us that we can actually like expand the pie on. So like the same end goal, which is like we're all building the same thing. I know that's been a meme for a long time. It's just like the the path to get there is a little different.

Yeah, and I think part of it too is just like there was a level of open-mindedness there of like what that meant of

of like expanding Solana

that I think was like pretty cool, where it's really grown and changed over time and kind of built its own little not little anymore, like niche and community of apps and things that, you know, when tried on ETHL2s or things haven't really worked

but worked on Solana.

Yeah. Yeah. Maybe uh apps that are working on Solana that can bring us to our first subject of the day. Now that we're wrapping up Crypto Twitter drama, internet capital markets is this meme that's going aro around crypto Twitter. I don't really know where it came from, but you know, the Crypto Twitter's best content producer said it best. That's uh Gabriel Haynes of you build a consumer app, you launch a token, you slap them together, and now you have internet capital markets. This is all downstream of this one token called Launchcoin, which has done 1,000% in the last 24 hours and even more than that, going back just a few days. A cool 15,000% over two days, 1,500% over two days. This believe app, believe screener, it's like the new pump fun, but it's different. And Andy has been tracking this meta for a while now. So maybe Andy, you can kind of just explain to us like what's going on and how this has uh crescendoed all the way up to crypto Twitter.

Yeah, so it actually like kind of started back in more like January of this year, but it was very small. So if you remember Jelly Jelly.

I do. Which has had some other funny stories with it now, with like the hyperliquid

trade stuff and all of that. But that was kind of the one of the first iterations of this. And the idea was basically

to you have like a startup and you make a meme coin of the startup with there's no promise of equity, there's no anything else. It is just a meme coin of the startup. Uh, and like what is that worth? And in the case of Jelly Jelly, it went to like 200 million in like a day, and then

Down a lot.

But I think from that people got

yeah, as crypto does.

And I think people kind of just were like, oh, that was silly, that was stupid. And in a lot of ways it was silly and stupid. But it also

obviously got some people thinking about things slightly differently. And so what we've kind of seen come out now with Launchcoin, which was previously clout, if people uh remember that, it was clout.me was the

domain and name of the app. And it was like a SociFi token app.

Okay.

And so they pivoted to Launchcoin, or it's called the app's called Believe, and LaunchCoin is like their token. Uh, but you tweet at it to make coins, and the idea is that you are making coins for like products or you know, apps and things like that. And what's unique about it compared to like a pump fun is there's no way to like snipe your coin really. You can after you if you I'm sure there will be tools soon enough where you can, or maybe there already are that people don't know about, but for the most part, you like just tweet at a bot and your coin comes out. And the big kind of selling point is that there is a a higher trading fee. It's like a 1% trading fee, and the half of the fees from that go to the creator. And so the idea is that if you have attention and interest, you can.

start funding your app just from this meme coin and, you know, add utility in different ways if you want to or not, whatever.

And I think it's very like it's still very unknown. It's most of these are

not legitimate or you know rugs or things from apps like things from desk.

Coded stuff, right?

Yeah, a lot of vibe coded stuff. A lot of the jokes are like, oh, people failed at raising their seed round and so they made a launch coin instead.

Yeah, it's like they're it's getting these like young, vibrant, like viral marketing style builders that are just like creating these things. I think uh was it their giggles? I think is another one where it's just like