I tried trading meme coins and it was an absolutely horrible experience, even though I made money. I feel like meme coin money is dirty, nasty money, and I don't want dirty, nasty money. I've been promoting meme coins because I created a coin marketing mastermind group with the idea that I wanted to help other people. But you have to think about which other people you are helping. Are you helping people who created a token profit off of creating a token? Or are you helping your viewers build a life that is genuinely rich?
I tried trading meme coins plenty of times myself. I made 300 ICP off of launching a little meme coin where I only held 2% of the supply. That is how stupidly profitable meme coin trading can be. A year or two ago I bought a dumb meme coin called something like Bitcoin 2.0. I put $100 into it and made a video giving it a five-star review. I lost $50 on it in a single day, and I felt like a moron. It was an ERC-20 token. The one good thing about that experience was realizing I hate this and I don't want to do it anymore. I think most of you buying meme coins hate them too. You are just stuck compulsively gambling on them.
Making amends for the meme coin videos
So I'm making amends here for all the videos I've done recently about meme coins. I just recorded a video on my Jerry Banfield Experience vlog channel talking about how I'm closing my ICP coin marketing mastermind. I explained the whole thing there. The short version is that this coin marketing mastermind made me a little over $2,000, almost $2,500 or even $3,000, within a month or so. You can see the result. Then I put out a video featuring 11 microscopic crypto meme coins. All of them paid to be in my group, and then I featured all of them.
I do think it is valuable to run experiments in life. It is valuable to change the camera angle, put some pants on, and wear an Internet Computer shirt. I tried this. I tried trading meme coins. I tried promoting meme coins. And it sucks, even on ICP. Yes, I know a lot of money has been made in these meme coins over the last month and in the crypto markets in general. There is a ton of money in memes. But who is actually making the money? On most of these meme coins that have pumped, yes, some of them are good projects, and I do want to get to know projects on ICP. I have had a system in the past that did exactly that.
If you want to talk to me, you can join my VIP channel on OpenChat. You can pay one ICP and then talk to me, paying the cost for the call in ICP. In the past I always encouraged projects: if you want me to know about your project, pay a few hundred dollars and tell me about it, and then I can organically cover it whenever it is relevant. But I got away from that. I tested doing something different, and I didn't think it all the way through. What happened is that now I'm just shilling meme coins, and I hate it. Then I look at the analytics and I hate that you all hate it too.
You already know what works, and so do I
Actually, I love that you all hate it. If this video had done better, if it had performed like the XRP videos, it would be obvious what content you want, at least in terms of what YouTube says you want. You want me to be critical of these other coins and tell you what is wrong with them. I'm glad you didn't like the meme coin stuff, because other people already give you that. There are content creators whose entire channel is about telling you which degen tiny coins you can make a profit off of, and you should watch them for that.
I feel embarrassed making this kind of video. It is because I personally hate trading meme coins. So then I make a video and it is like, well, these are all meme coins that paid to be in my mastermind, and I don't hold any of them. So why are we even talking about this? I wanted to cancel my mastermind just a few days after starting it. Sometimes the temptation is, well, this is making good money. But think about what it is costing you. Even if you are beating the odds and making good money trading things like meme coins, what is it costing you? It is costing you time. It is costing you energy. It is costing you sleep and anxiety.
Most of these coins on ICP, apart from a few of the memes, have sucked. But who made money on them? Most of the money made on these coins was made by the people who created them. If I had actually bought almost all the supply of my own coin when I launched it, I could have made $50,000 or $100,000 launching a coin. Instead I made $3,000 and the community made all the rest. And still, I don't even like that I have a meme coin now. I created it and I sold all of it. I honestly wish my own meme coin would go to zero, but people make funny videos about it and pump the price. I don't hold any of it. I don't even like a meme coin that I created.
Why I'm pulling these videos
So this is my video making amends and thanking you for your patience with all these crappy videos. I looked at another crypto creator, Crypto Casey, and honestly she didn't even give her viewers that good of information, and I felt jealous. Why would I be jealous? Because I am not proud of the content I'm making. Most of the time I am proud of my content. The critical XRP information is useful. It gives a little kick in the butt to people holding XRP, telling them to pull their head out and realize it is a crappy investment. I feel good about responding to some of the ICP haters too. I feel good about a lot of the videos I've done. But I don't feel good about another meme coin marketing guide, another meme coin video set to release.
Maybe I'll just schedule this one earlier so we don't put another meme coin video out after it. You know what? This other meme coin video, I'm going to delete it right now. I don't even want to put it out. I'm done. I'm not publishing that. Deleting it. I'm tired of it. I'm done. I hate meme coins.
I just watched a video by Zero to Hero where he said meme coins should be 1% or less of the market. If you look at the top cryptos, so much of the market is meme coins. They are a distraction. Dogecoin is a distraction. It is a copy of Litecoin, which is a copy of Bitcoin. There is no real value there. Yes, the world is free, create and do whatever you want. But there are hundreds of billions of dollars sitting in meme coins. The official Trump coin is a dumpster. It is a money raise and it sucks. Most of these other coins suck too, and there are so many of them that suck. That is what I want to focus on: talking about the coins that suck.
What I actually believe about your money
I appreciate that you all support the good videos. With the XRP one, sure, maybe 25% of the audience were XRP lovers who are happy with their heads in a dark place and would like to keep them there. I'm out here saying it is bright, it smells better, come join me, and they say no, they like it in the nasty dark place. I just appreciate your patience with these videos. I realize some of them did well. With my Popeye video, the price pumped like crazy afterward, but then it is like, should I really make money off of that? I hate all these meme coin videos I've done, so I hope I never make another one again. If I ever forget this, please come into my OpenChat and tell me to stop, then spam that video 80 times and tell me to never do that again.
I hope my experience is useful for you, because meme coins suck in the way something you would never want to put in your mouth sucks. Not something tasty and delicious, but something nasty and horrible that makes you feel like a nasty person inside. If I could share one thing I really hope people get, it is this: stop screwing around with all this junk in crypto. You have free will, so do what you want. But in my experience, meme coins ruined my whole portfolio. They ruined my whole mindset. Most of the time they don't last the test of time, and they take money that could be put into building something that would do humanity good.
To me, the much better idea, maybe not in the short term if you happened to pick the right ones, but in the long term, is putting money into ICP instead of these junk coins. I think you'll be a lot happier for it. If you want to follow along with how I've thought through all of this, I keep it all together in my ICP Crypto playlist. I appreciate your love and support.