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[@jackneel] Memecoin Expert: “I Don’t Leave My Room!” This Dumb Method RETIRED My Friend Group

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@jackneel - "Memecoin Expert: “I Don’t Leave My Room!” This Dumb Method RETIRED My Friend Group"

Link: https://youtu.be/kaC4piyce3c

Short Summary​

Here's the breakdown of the provided transcript:

  • Number One Action Item/Takeaway: Take full advantage of the opportunities presented by meme coins, as they are the easiest way to make money online.

  • Executive Summary: The transcript details Orangey's journey from a Fortnite pro to a millionaire meme coin trader, focusing on his strategies for quick, high-volume trading. He emphasizes the importance of speed, real-time information, and adapting to market conditions. He runs a Discord server and community that helps others learn how to trade meme coins.

Key Quotes​

Here are 5 quotes extracted from the YouTube transcript that represent valuable insights or strong opinions:

  1. "Like the whole idea of like what I personally think is that every narrative from now till like the end of time until like crypto exists is going to get tokenized. Like if Elon Musk gets a dog, that's like forever going to be something that goes on the blockchain." (This highlights the speaker's belief in the enduring and expanding nature of meme coins and crypto's integration into cultural trends.)

  2. "I made around 500k in like 10 20 minutes." (This dramatic statement demonstrates the potential for rapid gains, even in meme coins.)

  3. "Pump Fun became like the news like like if you wanted to know something you'd go on Pump Fun and see it." (This highlights a surprising use case for meme coin platforms - as a source of real-time information, particularly during breaking news events.)

  4. "I just realized like, bro, I I like trenching. I like being in front of my computer. I like trading and making money. And I still think that there's a lot of opportunity. And I realized like one day like I'm gonna regret not taking full advantage of this because like there will never be anything easier to make money online than memecoins" (This represents a strong personal conviction about the unique potential of meme coins as an income stream.)

  5. "You don't need to know how to play Fortnite. People like quit like their full-time coding jobs to go make Fortnite apps instead, bro." (This illustrates that you don't necessarily need in-depth knowledge of the game itself to make money from it.)

Detailed Summary​

Here is a detailed summary of the YouTube video transcript in bullet points, focusing on the key topics, arguments, and information discussed, and excluding sponsor announcements or advertisements:

Introduction:

  • The guest, Orangey, is introduced as a former pro Fortnite player who turned $700 into over $1 million by trading meme coins.
  • The video aims to explore his journey from "broke teenager to millionaire investor" and reveal his strategies for profiting from internet trends.

Meme Coin Discussion:

  • The guest believes that the concept of meme coins is just getting started and that every narrative will eventually be tokenized.
  • He acknowledges that the overall market sentiment (ETH, SOL prices) affects meme coin volume, but pump and dumps will persist.
  • A good meme coin needs to have the potential to go viral and attract a lot of attention.
  • He exits meme coin trades quicker during low-volume periods.
  • The Libra (fake Argentina token) event negatively impacted meme coin volume and sentiment due to miscommunication and a perceived rug pull.
  • A "rug" is defined as developers selling a large portion of their supply. Pump Fun changed this from a liquidity pool.
  • He made $500k in 10-20 minutes by sniping a coin (getting the first transaction) during the Slurf and Boom meta.

Trading Strategies:

  • He initially learned to trade by studying coins on Photon and asking for help from friends.
  • His trading style has evolved to focus on news-based trading, capitalizing on real-world events (e.g., Trump getting shot).
  • He currently holds coins for very short periods, often seconds (average hold time of 45 seconds).
  • He enters positions at relatively low market caps (around 10-20k, but also at 500k).
  • His success is attributed to being an early adopter and dedicating significant time to the market.
  • He emphasizes the importance of staying informed and being fast-acting.
  • He uses a custom trading bot called Nova.
  • He acknowledges that he loses more trades than he wins.
  • He prefers trading over being a developer.

Fortnite and Early Career:

  • He was a pro Fortnite player and attributes his trading success to similar work ethic and skill development needed to succeed in Fortnite.
  • He also previously played pro Rocket League ($500/month).
  • He earned $25k in one Fortnite tournament (sixth or fifth place in a trios event).

NFTs and Setbacks:

  • He got into NFTs in 2021 and made a few hundred thousand dollars but lost it all.
  • He bought ETH at $4,700 and sold at $800.
  • He bought Lambos and other depreciating assets, suffering from lifestyle inflation.

Agency and Doogie Dash:

  • He built a clipping agency (editing and posting clips for others) that scaled to $20k/month using SMMA
  • He won $600k in the Dookkey Dash (Board Ape endless runner) gaming competition.

Fortnite Maps:

  • He then entered the Fortnite map business making 50k a month
  • Fortnite maps can generate significant revenue (some making millions per month).
  • Brands pay him to make Fortnite maps ($5,000-$20,000).

Why Meme Coins?

  • Meme coins are simpler than running a business and allowed him to grind without talking to anyone
  • First success was $300 into $1,500

Potion Discord:

  • He created a Discord server called Potion to provide tools and a community for meme coin traders.
  • Potion generated up to $1 million per month at its peak and currently makes around $300k.
  • Access to Potion costs $100 per month.
  • Key tools include real-time social media tracking.

Scams and Cabals:

  • He warns about common scams, such as fake porn sites on Pump Fun that lead to wallet drainers.
  • He mentions the existence of crypto "cabals" (groups of people who pump tokens), but claims not to be part of one.

Investment Strategy and Concerns:

  • He keeps a significant portion of his money in banks and real estate due to security concerns.
  • He heard a very scary story of someone getting their finger chopped off in Paris to get the password.
  • He feels the crypto community is extremely toxic

Future:

  • He does not believe Kanye will make a coin
  • He still thinks about clipping and is starting a new clipping agency

Networking and Advice:

  • He built connections by providing value (e.g., free graphic design work, video edits).
  • His advice to his 16-year-old self is to keep doing what he's doing and not get distracted by girls.
  • His most useful purchase was hiring a driver to save time during trading sessions.
  • If someone gave him 100 million, he would stop trading meme coins.
  • The most impressive person he ever met was the founder of Chatterbait.