Memetic Crypto Markets with Murad Mahmudov (@Muststopmurad) - Rough Consensus Episode #7

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Episode Description:
Today I jumped on the phone with Murad Mahmudov, who has been around the Bitcoin and onchain world for a very long time. Back in 2018, Murad was the guest on a podcast with Pomp titled the Ultimate Bitcoin Argument, which was one of the key orange pill moments for me personally. I highly encourage everyone who hasn’t heard this discussion, to add it to your listening list.

Murad was also the original co-creator of the MVRV Ratio, alongside David Puell, two of the original onchain thinkers, from whom I have learned a great deal.

In this podcast, we start with Bitcoin and its role as a monetary asset. We also venture into the weird and wacky world of meme coins. Now, I know a majority of the Checkonchain audience are Bitcoiners at heart, however I encourage you to think beyond the silliness of the tokens, and think about how Murad frames up modern market structure.

Whilst I personally am not an altcoin, nor memecoin investor, I still find the intellectual exercise of thinking through why crypto markets value certain idea more than others fascinating. In my opinion, the crypto world has rebuilt, bug-for-bug, many of the systems which underpin Wall Street and global finance. They offer us a lens into how the incentives behind the fiat system led to it becoming what it is today, just on an accelerated timeline.

Think beyond the tokens, and try and consider how the emergence of memecoins represents a social, and cultural shift, and a direct reaction to the VC funded techno-babel nonsense which is all too prevalent in the crypto world.

I found this conversation really helped solidify many of the ideas and reason why the broader crypto market trades the way it does, and paints a unique picture for how capital rotation may or may not evolve this round.

This was a cracking conversation, and I hope you enjoy it as much as I did. If so, please consider sharing the episode and giving us a rating on Spotify/Apple Podcasts, as it helps more folks find our work.

Timestamps:
00:00 Introduction
02:47 Murad's Introduction
03:14 Murad's Thoughts About Bitcoin
05:54 Wealth Preservation Through Bitcoin
12:30 BTC Trading Dynamics & Personas
17:04 BTC 2024 Performance Review
20:10 Crypto Market Dynamics & Murad's Maturation Concept
28:14 Layer-1 Landscape (ETH/SOL) & BTC Dominance
36:15 Capital Rotation in Crypto for next 12/24 Months
42:07 A.I. Impacts
44:09 Memecoin Landscape Discussion
47:59 Predictions: Market Landscape by the End of this Cycle
51:46 Murad's Tips For Bitcoiners Who Want to Dabble in Memecoins

Links:
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Twitter:   / _checkmatey_  

About _checkonchain:
We believe Bitcoin is one of the most important assets of our time, providing investors with a reliable and secure store of value. However, one of the biggest challenges is that Bitcoin's volatility creates uncertainty, especially for those unfamiliar with the way the market trades and moves.

At _checkonchain, we help you navigate this volatility, by bringing together years of market analysis experience, and a unique perspective rooted in the study of Bitcoin’s blockchain data (onchain analysis). We provide traders and investors with expert guidance on current events, as well as frameworks for making data-driven decisions.
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Our mission? To provide unmatched Bitcoin education and insights, helping you look ahead and respond to market moves with confidence.


DISCLAIMER
Despite mankind's best efforts, none of us can predict the future, and events which have come before are in no way an indication of what may come next. All methods and concepts presented in this series shall be taken as educational, informational, and for entertainment purposes only. Nothing shall be interpreted or considered as any form of financial or investment advice of any kind. The viewer is solely responsible for their own decisions.