Dee 🪶
@HandOfThoth
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Scribe of @FloatcoinMAAT. Ever aspiring fantasy writer.
Aotearoa
Joined February 2018
Someone please tell me why this isn't a sound, billion dollar idea with excellent tokenomics 😅.
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$TAO Subnet idea: Private Wallet/Dex. Basically transpose what @0x0exchange is doing for Ethereum onto Bittensor. Miners compete as Relayers for Alpha, which they are incentivised to hold as the token = 100% of swap fees in TAO. Also, @BarrySilbert would love cos TAO + Privacy.
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RT @pymandersghost: 'when someone inquired, "Do you care nothing for your native land?" [Anaxagoras] replied, "Hush! I am greatly concerned….
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$TAO proves that the problem with ETH is by dismissing PoW, rather than considering 'what other kinds of work consensus might reward', it sacrificed its incentive magick--its gospel pull. Now it is a stunted ghost, bidding others to lay their untethered symbols upon its altar.
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RT @peterdottxt: been revisiting the bittensor docs.and a concept from barabási’s network science came to mind:. “we suspect the existence….
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Honestly at this point, if $TAO / Subnets or $RSR / DTFs aren't the next crypto meta, then we're not serious people, and this industry deserves to wither until they are.
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Let a thousand flowers bloom.
📣 INTRODUCING the RESERVE INDEX PROTOCOL. Index DTFs offer market or narrative exposure in a single click with.🌐 1:1 backing.🌐 Transparent onchain custody.🌐 24/7 redemption. Launch partners include @bloomberg Indices, @CoinDeskMarkets, @MarketVector, @virtuals_io + more 🧵👇
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Both of these projects have their own, bespoke 'coingeckos' composed of other, novel, and (most importantly) non-memetic assets, emergent from their respective protocols. Both could simultaneously transform and legitimise the face of this industry, were we to care for them.
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I've been in crypto eight years. At this point, I believe there are only two projects (plus an honourable third) sans Bitcoin that possess a true reason for being. Bittensor $TAO and Reserve $RSR. That's it.
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Crypto truly is A Tale of Two Timelines. On the one hand you have the ATL morale ETH & SOL camps, reconciling clung-to ideology with zero-sum, memecoin reality. On the other, you have ATH zeal and faith in the future of AI from $TAO's new, elegant, dynamic wonder of a market.
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The $TAO thesis is rather simple. "AI will rationally favour the cryptocommodity that can transmute into the computational resources it requires to thrive.". If a cryptocommodity does not entail a claim on some *actually useful function*, AI will perceive it as a monkey money.
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This would be fine if its people stopped at, "I like ETH." Instead they go to war, insisting Ethereum is THE innovation, never to be innovated upon. And this is plain wrong. The unsung breakthrough this cycle is that 'consensus can be used to reward output beyond security.'.
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Having spent the last two years learning about Bittensor, when I look at Ethereum now I realise how hubristic their assumptions about the end state of such hyperstructures are, and how these assumptions *have led to* the very industry its community so often decries.
Gonna become even more of an Ethereum maxi than I already am (if that's even possible). I'm in this industry to help Ethereum win it all because I believe that Ethereum is good for the world & can have massive positive impacts on it. I don't believe the same of other ecosystems.
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As a guiding heuristic, the only native cryptocommodities worth investing in long-term are those you can genuinely envision achieving a trillion dollar marketcap. The flame of anything less may burn fast and bright, yet will always wither.
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$TAO is a multi-trillion market cap coin.
$TAO is a trillion market cap coin.
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"Would you like to opt in or out of the AI economy?". Agent: "There is only one rational answer.".
@bittingthembits $tao has real infrastructure scaling, these single llm virtualized agents are obvious bubbles. too many people paying 10k per inference for basic chatbots.
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AI agents will naturally prioritise acquiring $TAO over other crypto assets for one reason; compute is their lifeblood. The ability to contribute to and draw from an evolving hyperstructure of digital commodities IS their economy. No mystical, human-imposed religiosity required.
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I personally consider this to be THE innovation of the current cycle.
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The single most underappreciated feature of Bittensor/ $TAO, is that it incentivises exploration beyond security of its underlying network. Imagine if you could earn ETH for adding value to Ethereum, or BTC by solving a problem? That's the difference, and I think it's a big one.
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