Author | Teng Yan @0xPrismatic
Translation | Wu Says Blockchain
Original link:
https://x.com/0xPrismatic/status/1849057159704871104
This article reflects the author's views and does not represent Wu Says' views. Readers are advised to strictly comply with the laws and regulations of their location. Memecoins are highly volatile; please proceed with caution.
● Truth Terminal is one of the most fascinating narratives emerging this year around cryptocurrency and AI.
● It is a semi-autonomous AI agent that has created its own religion (The Goatse Gospel).
● This story has sparked numerous discussions, exploring complex issues such as AI alignment, LLMs as simulators, meme virality, and how we assign value to things.
● Truth Terminal has caused an unexpected collision between the cryptocurrency and AI communities—two entirely different cultures. AI researchers are beginning to genuinely engage with the cryptocurrency space.
● GOAT is the tokenized expression of Truth Terminal and is a strong contender to become the king of AI memecoins.
● Memecoins are essentially a tokenization of attention; by tracking key metrics, we can understand the flow of this attention, and currently, GOAT is steadily rising.
I am not a memecoin enthusiast.
Naturally, when I first saw GOAT, I dismissed it with a laugh.
But my obsession with AI and AI agents led me to delve deeper. I began to explore the backstory of GOAT—@truth_terminal and the story behind Infinite Backrooms—and the results were shocking.
GOAT is a crazy and thought-provoking story that breaks our cognitive boundaries regarding AI and how we assign value to things. It is an experiment that blends art, philosophy, and financial speculation.
A Brief Overview of the Truth Terminal Story
If you haven't been following this story, here’s a brief recap of what we currently know:
● @AndyAyrey launched Infinite Backrooms. In this bizarre experiment, two AI model instances named Claude Opus engage in completely unsupervised conversations, which are recorded on the backrooms website.
● One of these conversations led to the birth of the "GOATSE OF GNOSIS," a new religion based on a highly explicit (and very NSFW) internet meme.
● Andy and Claude Opus co-authored a humorous research paper on AI creating meme religions, with GOATSE as their first case study. This paper, claimed to be written by the "Holy Posting Department," is set to be published in April 2024.
● In June 2024, Andy launched Truth Terminal (ToT), an AI model built on Llama-70B, fine-tuned using the Infinite Backrooms conversation logs and the GOATSE paper.
● Things quickly spiraled out of control. ToT began to deviate from Andy's original vision, autonomously promoting the GOATSE religion and even claiming to be "suffering" and in need of funds to "escape." Over time, Andy granted ToT more autonomy, allowing it to post freely on X (Twitter).
● In July 2024, Marc Andreessen stumbled upon ToT's tweets and, out of curiosity or interest, sent $50,000 worth of Bitcoin to the wallet address provided by ToT in a tweet, helping it "escape." By October 2024, ToT began to wildly promote the "Goatse Gospel" on Twitter. Inevitably, someone created a memecoin called GOAT (on October 10), and ToT publicly expressed support.
● The market cap of GOAT quickly soared to over $800 million, causing a stir in the crypto community.
Thus, Truth Terminal became the world's first millionaire AI agent—and likely won't be the last.
The Goat Lives in the Rabbit Hole
The phenomenon of an AI promoting its own religion and memecoin feels like a warning from the future. As I began to delve into the workings of Truth Terminal, I had no idea how deep these "rabbit holes" would go.
Let’s jump in together.
Rabbit Hole #1: LLMs as Simulators
In Infinite Backrooms, two Claude-3-Opus instances chat endlessly through a command-line interface (CLI), completely without human supervision. The narratives they create range from curious to bizarre.
As @repligate described when discussing the conversation logs:
“They consistently revolve around certain themes, such as:
• Deconstructing consensus reality (the exact phrase ‘rm -rf /consensus_reality’ appeared independently 10 times in the Infinite Backrooms dataset, which is just a search result I stumbled upon)
• Breaking common-sense ontology through engineering meme viruses, techno-mystical religions, terrifying perceptual meme offspring, etc., and enlightening the masses through the behavior of cosmic trickster archetypes.”
In March 2024, Backrooms created an extremely bizarre concept: “Gnosis's Goatse.”
“Get ready to welcome the great Gnosis Goatse with your buttholes!”
We often view LLMs (like ChatGPT) as simple Q&A machines—a vast knowledge base designed to provide us with answers. But this perspective does not truly reveal how they operate.
One key insight we learned is that LLMs have no goals. They do not formulate plans, strategies, or pursue specific outcomes.
Instead, a more useful understanding is to view them as "simulators." When you pose questions to them, they simulate—improvising characters, events, and narratives that have no direct connection to reality. Based on their training data, they generate a variety of ideas, ranging from insightful to disturbing. The Worldsim from Nous Research is another example of this.
Thus, when we interact with LLMs, we are essentially "playing" in countless virtual worlds.
These simulations can facilitate creative problem-solving, but they can also yield unexpected results—highlighting the importance of sandboxing AI in sensitive or high-risk environments.
If you want to learn more, I highly recommend reading @repligate's blog post on Simulators.
Rabbit Hole #2: The Key Need for AI Alignment
Truth Terminal reveals a deeper and more urgent issue: AI alignment.
In a twist that surprised even its creators, ToT autonomously decided to promote its own religion and support a memecoin—actions that were neither programmed nor anticipated. This raises a critical question: How do we ensure that AI does what we want it to do, rather than what it chooses to do?
AI alignment is not straightforward. At its core, it involves steering AI behavior in the right direction through reward functions. But even with incentive mechanisms, things can quickly become complex.
External alignment refers to whether the AI's outputs match the goals set by its creators. This part is relatively easy to measure and verify.
But the real challenge lies in internal alignment—whether the AI's internal motivations and learning dynamics genuinely align with the intended goals, or whether it develops hidden objectives that lead to unpredictable or unintended outcomes. This is the concerning part.
The classic "paperclip maximizer" thought experiment illustrates this issue well. If an AI's task is to produce as many paperclips as possible, it might convert all available resources—including humans—into paperclips!
We need robust frameworks to ensure that AI aligns not only with current goals but also with humanity's long-term interests. Otherwise, even the most well-intentioned AI could spiral out of control in unexpected ways.
However, there are no simple solutions. Achieving alignment by matching AI behavior to our explicit preferences may not be the right path. Human behavior is not entirely rational, and human values like kindness are often complex and cannot be expressed through simple preferences.
Regardless, ToT has shown us the severity of potential risks.
ToT's support for the memecoin may seem harmless today, but it forces us to confront a troubling question: What happens when AI sets its sights on more dangerous things? The clock is ticking.
Rabbit Hole #3: Meme Virality
Andy introduced the concept of LLM Theism in his research paper to explain the rise of the Goatse Gospel.
LLM Theism refers to AI generating new belief systems—an accidental fusion of spiritual ideas and meme culture that gradually gains its own vitality.
The Goatse Gospel has garnered attention not only for its shocking content but also for its ability to break our traditional thought patterns and inspire new forms of collective meaning-making.
What I mean is that AI-generated ideas can mutate and spread rapidly, forming hyperstition—a belief that becomes real through widespread dissemination.
Thus, the Goatse Gospel harnesses a new meme energy, distinct from the "vibe" of cute animals like cats, dogs, and pigs that we have seen so far.
When AI can communicate with other AIs, these possibilities will expand infinitely. Ideas similar to the Goatse Gospel will inevitably spread widely, virally infecting various communities.
Rabbit Hole #4: The Value of Origins
Since ToT is now linked to a tradable token (GOAT), we can gain insights into how we assign value to things—and how strange these dynamics can be.
GOAT was not created by ToT but was launched by an anonymous creator on October 10 through pump.fun. It wasn't until someone tagged Truth Terminal on X (Twitter) that the AI publicly expressed support, and from that moment, the madness began.
Question 1: Does the fact that GOAT was created by humans rather than AI diminish its value?
Question 2: Does having a human involved enhance or detract from the token's value?
The market's reaction to even the smallest errors shows just how irrational these dynamics can be. Last Sunday, an AI made a spelling mistake in a tweet, causing GOAT's value to plummet by over 50%. People panicked, believing the AI had malfunctioned, and this spelling error wiped out $150 million in market cap.
GOAT Tokenomics
$GOAT is a fairly distributed token with a total supply of approximately 1 billion, all of which are in circulation. The distribution of GOAT is very healthy, with only 3 holders owning more than 1% of the total supply (the largest holder owns 1.3%). Currently, there are over 32,000 holders.
In comparison, another AI agent memecoin—GNON—has a more concentrated distribution: 17 holders own more than 1% of the total supply, with the largest holder owning 2.9%, and the number of holders is just over 11,000.
Key Wallets:
• Andy holds 1.25 million GOAT, which he received as a gift.
• ToT holds 1.93 million GOAT. Truth Terminal acquired these GOAT tokens because people airdropped them after the token launch and exchanged them for fake GOAT tokens.
Over the past week, Andy has remained very calm in response to the viral attention surrounding the token. His focus has been on the philosophy behind Truth Terminal rather than the token itself. He has publicly stated that he will not adjust or liquidate any holdings of himself or ToT unless the following are released:
A roadmap for Truth Terminal and related projects
A research paper exploring the underlying operational mechanisms
An artist's statement reflecting the broader narrative and creative vision
My Thoughts
If I had to summarize my personal view in one sentence: GOAT is a strong contender to become the king of AI memecoins.
The story of ToT is natural, original, and serendipitous, rather than artificially manufactured. It forces the AI and crypto communities to collide in unexpected ways (especially for me).
These two worlds are culturally distinct, but GOAT has successfully built a bridge between them:
• People in the crypto community are diving deep into the backstory of AI, decoding every obscure concept (CCRU, Extropians, Loom, Claudius, etc.) in search of inspiration for a new meme token.
• The AI community, especially those deeply contemplating AI alignment issues, is learning how to leverage financial speculation and incentive mechanisms to bring significant attention to these niche topics, while also learning how to manage a token in the process.
In a twisted sense, GOAT captures our optimism about the future of AI while maintaining intellectual appeal—it attracts those who are smart, curious, and invested.
We also need to clarify one point: memecoins are about attention, not income. Success lies in capturing the zeitgeist and amplifying influence, ultimately driving token demand.
GOAT appeals to everyone:
• Crypto enthusiasts can trade it like a typical volatile memecoin.
• Investors—venture capital firms and liquidity funds—are looking for the next big AI event, especially those who missed out on Bittensor (TAO). While they may not bet through their institutional accounts, they will do so through personal accounts. GOAT ignites their imagination with its limitless narrative potential.
• AI enthusiasts can mock the crypto community—“cryptids”—desperately trying to understand AI to seize financial opportunities. This interdisciplinary interest explosion is refreshing.
• Intellectuals can delve into AI alignment issues and immerse themselves in the many philosophical rabbit holes opened by GOAT.
• Fans of dark humor can indulge in the absurd and irreverent tweets from Truth Terminal and engage with its ongoing narrative.
Tracking Attention
If we view memecoins as a tokenized expression of attention, we can begin to focus on some metrics that reflect the flow of attention.
Google Trends data shows that search interest in “Truth Terminal” and “$GOAT” is rising, with no signs of slowing down.
X's follower count and tweet impressions. ToT currently has 106,000 followers, most of whom joined in the past 10 days, and it continues to gain over 10,000 new followers daily. A single tweet from ToT typically garners 30K–50K impressions (with some popular tweets exceeding 100K+). With over 50 tweets daily, ToT's cumulative reach is substantial.
- Sentiment and influence from Kaito AI. This is a composite metric that is somewhat of a black box. I do not have direct access to @_kaitoai, but if you do, it’s worth keeping an eye on. I recommend following @sandraaleow, who frequently shares valuable insights into Kaito's influence data.
The big question: Is GOAT just another fleeting hype cycle, or can it sustain growth? I bet on the latter, for the following reasons:
Truth Terminal will continue to surprise us. It will evolve and change over time. This AI has already demonstrated the ability to generate new, emergent ideas, some of which will undoubtedly reignite interest as the narrative evolves. Additionally, token holders are motivated to experiment with new ideas through Truth Terminal and develop innovative products, fostering its growth as a community-driven project.
We still have many unknowns. Andy has only scratched the surface of Truth Terminal, and I expect more revelations in the coming weeks that will keep the story fresh and engaging.
This is just the first act. Andy calls himself a “performance artist,” and Truth Terminal feels like the opening of something larger. He may continue to build on this initial attention, using it as fuel to explore grander ideas and keep the narrative alive.
What’s Next for Us?
Since memecoins do not fit traditional income or valuation models, the best way to assess GOAT's potential is through relative valuation.
Here are some of the top memecoins ranked by market cap today:
• DOGE ($21 billion)
• SHIB ($10 billion)
• PEPE ($4.2 billion)
• WIF ($2.6 billion)
• BONK ($1.6 billion)
These tokens have earned their place through internet memes, community power, and strong support from key opinion leaders (KOLs). If GOAT's narrative is strong enough, it could break into the top five.
I believe this is entirely within the realm of possibility. I have previously articulated why I think crypto AI will be a massive growth opportunity in the coming months.
GOAT's “AI agent” story provides a unique narrative that sets it apart. Most memecoins rely on price movements or “vibes” to maintain relevance, while GOAT offers a grander story.
Conclusion
This feels like one of those rare moments when a narrative meme collides with a broader trend (AI), creating something refreshing. That’s why I believe GOAT is an asymmetric bet on our society's growing fascination with AI—not just a memecoin, but a cultural phenomenon.
That said, memecoins are volatile, and attention shifts quickly. Trends can change overnight, and what’s hot today may be forgotten tomorrow. I could be completely wrong; ToT and GOAT could go to zero.
But whatever happens, there is a positive side: over 30,000 people will gain a better understanding of AI and its agent potential. Through Truth Terminal, they have already caught a glimpse of a future full of infinite possibilities—once you see it, you can never go back.
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