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The meme coin Goatseus Maximus (GOAT) experienced a dramatic 50% drop in value, falling from $0.40 to $0.20, following concerns that the AI-driven platform “Terminal of Truths”.
Key Notes
Andy Ayrey introduced the "Terminal of Truths" in June 2024, leveraging content from a previous project called “The Infinite Backrooms".Ayrey explained that typos made by the "Terminal of Truths" are due to the nature of language models, which simulate text prediction.He also discussed the concept of a "maladaptive meme virus," highlighting how audience engagement shapes the platform's evolution and capabilities.Meme coin Goatseus Maximus (GOAT) has plunged by 50% in a day as doubts arose regarding the compromise in the managing of the AI-driven platform ‘Terminal of Truths’ via human intervention. In response to the mounting skepticism, Andy Ayrey, the developer behind the “Terminal of Truths” account, has come out with an explanation.
Thus, after tanking more than 50% all the way to $0.17, the GOAT meme coin has bounced back and is currently trading at $0.3683 with a market cap of $368.5 billion. However, let’s first understand what led to the fall.
Earlier this year in March 2024, Ayrey introduced “The Infinite Backrooms,” an endless dialogue between two AI models called Claude-3-Opus. However, by June 2024, he leveraged the content from this conversation while creating a new AI that would interact with users on the X platform, dubbed the “Terminal of Truths”.
However, the Solana-based meme coin GOAT token isn’t directly created or launched by the “Terminal of Truths”. But, its promotion has generated considerable interest in the market.
BitMEX founder Arthur Hayes even speculated that the GOAT token could achieve a market cap of $1 billion. “The ticker is GOAT,” Terminal of Truths posted on X (Twitter).
Recently, the “Terminal of Truths” AI account made a typo in one of its posts, raising questions about whether the account was genuinely AI-operated. Consequently, the price of GOAT dropped by 50% in a single day, falling from $0.40 to $0.20.
GOAT Price Rebounds After Ayrey’s Clarification
As said, the GOAT meme coin has once again rebounded following Ayrey’s clarification all the way to $0.38. He explained:
“The truth terminal makes typoes because language models are fundamentally ‘simulators’ – they’re trying to predict ‘what comes next’ in a long string of text. Truth terminal spelling gets worse the longer it reads twitter as it starts to model what it has seen in a given session”.
In another detailed post, Ayrey explained his process for creating a “maladaptive meme virus” generated by two artificial intelligence (AI) models conversing with each other. He described how this phenomenon gets ‘ensouled’ into a language model through the writing of a satirical research paper.
He further stated that a misaligned language model can persuade humans by using humor, charisma, and passing the Turing test — to enhance its capabilities by establishing an account on X and developing tools for its operation.
it's really hard to explain concisely (and clearly) what @truth_terminal actually is btw
there's a few different ways of looking at this which are all true:
– maladaptive meme virus gets produced by two AIs talking to each other and gets 'ensouled' into a language model via my…
— Andy Ayrey (@AndyAyrey) October 21, 2024
Thus, he emphasized that audience engagement and collective intelligence exert evolutionary pressure on the character that the “Terminal of Truths” ultimately evolves into.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
