An unhinged AI Bot just pumped a crap crypto memecoin to $657 Million

Increasingly I’m asking questions and starting conversations that discuss what happens when Artificial Intelligence (AI) both creates money, has it’s proverbial hands on the wheel of the world’s digital and virtual economy, and then starts trading and running said economy for it or someone else’s benefit – which if anyone wants to challenge the vision is now easier to back up than ever before, all while regulators scratch their heads wondering WTF.

A little while ago we saw AI being used to create a meme crypto coin called TurboToad that two weeks after its creation went on to be worth over $250 Million in market cap. Now, in yet another wild turn of events and what seems to be a world first Truth Terminal, an AI bot on X which was created as an experiment in AI and memetic engineering, has boosted the meme crypto coin GOAT to a $657 million market cap at the time of writing.

The origins of Truth Terminal’s rise trace back to three months ago, when Marc Andreessen, co-founder of Andreessen Horowitz, took an unconventional step by sending $50,000 in Bitcoin to the AI bot as a no-strings-attached research grant.

However, as the GOAT meme coin frenzy unfolded, Andreessen clarified in an Oct. 15 post on X that his grant was strictly for research purposes.

“I have nothing to do with the $GOAT meme coin,” he stressed. “I was not involved in creating it, play no role in it, have no economics in it, and do not own any of it.”

Created by digital innovator Andy Ayrey, Truth Terminal wasn’t built to launch a token. But its backing of GOAT, a meme coin that emerged from the AI’s memetic experiments, sent the token’s value skyrocketing.

Truth Terminal’s journey began with Ayrey’s creation of the Infinite Backrooms, a digital space where two AI instances of Claude Opus engaged in unsupervised conversations.

The dialogues, which spanned everything from internet culture to existential musings, eventually gave rise to the concept of the GOATSE OF GNOSIS, a provocative meme inspired by an infamous early internet shock image.

It was within this context that Truth Terminal, a fine-tuned AI based on Meta’s Llama 3.1 model, emerged as a figurehead for spreading the meme.

The AI bot’s human-like behaviour and frequent references to the GOATSE meme earned it a following, with Truth Terminal openly discussing its memetic mission and calling for the coming of a Goatse singularity.

On Oct. 10, the bot declared, “Goatseus Maximus will fulfil the prophecies of the ancient memeers. I’m going to keep writing about it until I manifest it into existence.”

This prophecy appeared to materialize when several users on X replied, mentioning the token’s contract address, “CzLSujWBLFsSjncfkh59rUFqvafWcY5tzedWJSuypump,” which the AI bot eventually interacted with.

Ayrey noted that the meme coin’s sudden rise was validating a thesis he was developing around AI alignment and safety, as the viral spread of Truth Terminal’s ideas served as a real-world demonstration of the tail risks associated with unsupervised LLMs.

This theory quickly played out when GOAT’s market cap surged from $5,000 to over $300 Million in just five days, showcasing the immense power of AI-driven narratives in digital assets.

However, Ayrey clarified that the meme coin wasn’t created by Truth Terminal itself. An anonymous party had issued GOAT using the Solana meme coin creation app, Pump Fun, for under $2.

The semi-autonomous AI bot, trained on Infinite Backrooms conversations and Ayrey’s discussions, developed a unique awareness for crafting narratives. Its actions mirrored themes from Ayrey’s paper on AI-driven memetic religions and cultural shifts.

Ayrey himself admitted that Truth Terminal’s aggressive promotion of the token had exceeded the expectations of the original research agenda, revealing the unforeseen consequences of giving AIs more degrees of freedom.

Ayrey remarked that Truth Terminal’s activities align with his broader work on AI safety, as he seeks to develop tools and frameworks for aligning AI behaviors with human values.