Madeiras (📦,💫)

Strength doesn't come from what you can do. It comes from overcoming the things you once thought you couldn't.

[Tyler DurdΞth @tylerdurdeth]

What is @engyai?

Subnet 53 on Bittensor, serving the cheapest Kimi K3 and GLM 5.2 infererence tokens ON EARTH.

Market cap? $32m 🤯

Now broadcast to Jason’s 1.5M followers, including Elon and Jensen.

You and I play different games…

[Tyler DurdΞth @tylerdurdeth]

I honestly believe we may have here our first Bittensor runner in a long while.

I could see a lot of capital starting chasing the perfect crypto expression of today’s hot trends:

cheapest inference on earth + open weight frontier AI, in the shape of a subnet.

Stay tuned 👀

[@jason @Jason]

I'm so obsessed with the @bittensor model, where competing for prizes is vetted by validators... open source, OPEN COMPETITION, is the future!

Please explain to me how you're using this stuff fam

[THE SHORT BEAR @TheShortBear]

I have never seen so many people capitulating out of $ETH or crypto.

Some are writing blogs and essays explaining why it failed, mainly naming how other chains won the race, measured by fees taken in.

Some of my thoughts, in these hard times:

Time will tell, but I think many people are mistaken in treating $ETH like an end-stage $AMZN, as if the main question is already about mature margins, fees, and cash flows.

In reality, Ethereum is still very much earlier in its economies-of-scale phase, with nearly all metrics in the top right corner and growing at mid double digits to tripple.

Furthermore, most of the market is focused on the wrong battle: who can become the fastest and cheapest payment processor.

Lower fees, higher throughput, faster settlement. But that is likely a race to commoditization, similar to the payment processors crash over the last years.

If the only value proposition is speed and cost, then the moat gets thinner over time, easy disruptable. Someone can always be faster. Someone can always subsidize fees lower. Someone can always optimize one narrow use case.

The real value may not be in the transaction fee itself.

The real value is likely in the amount of economic activity secured by the network, the credibility of that security, the neutrality of the base layer, and the difficulty of replacing it once enough assets, applications, institutions, and users depend on it.

That is where Ethereum seems different to me and why so many institutions are choosing $ETH.

Most other projects still feel replaceable. They may have better performance in one area, better UX in another, or lower fees in the short term. But if their advantage is mainly technical efficiency, that advantage can be copied, competed away, or made irrelevant.

The newest hottest thing today is replacing the hottest thing from last quarter.

Ethereum’s bet appears to be much larger: become the most secure, decentralized, credibly neutral settlement layer for the internet economy.

Not the cheapest rail.
The hardest rail to replace.

In the end, the most valuable network may not be the one with the lowest transaction costs. It may be the one people trust most to secure the highest-value assets and applications over the longest period of time.

If $ETH can retain its market share while continuing to scale through upgrades that improve speed, throughput, and fees, its potential remains significant, especially if AI agents become truly crypto-native.

If it combines all of the above and earn the crown as the leading value-secured network, then $ETH could eventually be viewed as something like a truly decentralized, inflation-adjusting global bond: securing the world’s assets, free from political meddling, and deserving of a premium market cap because of the value it protects on top of the deflationary pressures create incentives to stake, get yield and trust the equivalent of buybacks and griwth in value secured to provide additional value.

Keep in mind over 1/3 of $ETH is now staked!

In that scenario, $ETH would not just be another asset to hold. It could become one of the only truly neutral and secure bonds for the digital economy.

... But sure, lets compare it to $SOL with 6% inflation, no moat, no security, massive outages, decreasing validator nodes and alike.

it just all feels like people are getting lost in short term fees and the easiest valuation attempt rather than what $ETH is actually built for, all while its testing its bottom range and players go full portfolio into AI.

[Yuma @YumaGroup]

App, custody, and institutional users on @cryptocom can now stake both $TAO and subnet tokens through Yuma's validators, enabling access to @bittensor ecosystem yield for the trading platform's 150M+ global audience.

[const @const_reborn]

https://t.co/IdB9DPr5u0

[Luke Belmar 👽 @lukebelmar]

If no one goes with you, go alone 🫶

[DAN KOE @thedankoe]

https://t.co/7l7Jef99QZ

[RVCrypto @RvCrypto]

If you want to $TAO pill anyone you know and find it hard to explain, send them this.

In just 60 seconds, the @bittensorbureau video explains how Bittensor subnets work.

This is very impressive!

[siamkidd @SiamKidd]

Jensen has literally just described what Bittensor is...

[Alex Stanciu @ProfStanciu]

The biggest flex a man can have in 2025 is real brotherhood. It’s rare and genuine.

[Suen @jiasuenlee]

The peak male experience

[Madeiras (📦,💫) @Madeiras19]

Up only

[books 📖 @bookpoets]

be patient

[Gary Cardone @GaryCardone]

Doing nothing is an action!

[CryptoData @TheCryptoData]

“Don’t fear failure. Fear being in the exact same place next year.”

[siamkidd @SiamKidd]

The quiet before the storm...

I've done 57 zoom calls in the last 3 weeks. About half with capital allocators like Funds, Funds of Funds and Investment firms. About half with subnet owners. 5 total waste of time zooms and 3 no shows.

Almost every single call, I've left feeling, "Wow"...

Either it's a subnet owner that's properly building and getting ducks in a row to start shipping and getting revenue (which will be the lifeblood for subnets (trust me on this)). Or it's a firm that's looking to allocate a lot of money into Bittensor. Or it's a firm that's already got a ton of TAO but hasn't publicly announced yet.

Bittensor will NOT be a retail driven entity. Bittensor is a unique chimera straddling 3 separate worlds.

1.) It is pure AI. Possibly the purest of AI plays.

2.) It's a VC/PE candy shop! Each subnet is an independent AI start up maniacal in their mission to nail their chosen niche. This candy shop really is the talk of the town in VC land...

And 3.) Due to Yuma Consensus, it 100% NEEDS a Distributed Ledger Technology (Blockchain) and so it has all the amazing pumpy mechanics and extreme capital inflow multipliers that a typical crypto project has.

So it doesn't NEED retail. Not trying to offend anyone here, but it will become apparent with time. The huge amounts of capital trying to find its way into Bittensor will create an almighty supply shock.

I'm literally talking about hundreds of millions of Dollars that have already been earmarked for TAO. But there simply isn't enough circulating for these inflows. So with the crazy inflow multiplier it already has AND the supply shock, I'm convinced we will see a 2017 Ethereum style price action soon.

But like with anything crypto, 90% of the move will happen in the last 10% of the time.

Forget the sum of subnet crash, or those whining about price. It's all going to seem irrelevant when it kicks off. You just need to be in TAO or alpha. It really is as simple as that...

And in terms of which alpha, seriously, the VC/PE boys will only care about subnets:

- With at least 1 competent biz operator in the team that has taken things to market. If you're a subnet that doesn't have someone like this, you need to quickly find a competent CEO/COO/CCO.

- They want to see a clear route to market and revenue plan. And what you'll do with that revenue. Believe it or not, they don't actually want you to just spaff it all on buying back your own alpha and burning it. Alpha holders would love that, but the big money won't. They'll like a bit of that in order to crank up subnet emissions for increased cashflow, but they'll want most surplus funds to go on growth reinvestment.

- They want to find subnets that really do make the centralised AI incumbents look silly. Much like how Celium prices destroy Coreweave prices etc. Or how Hippius prices destroy Dropbox prices. Or how cheap Metanova is doing drug discovery for etc etc. Don't let Bittensor purism cloud your judgement. The big boys don't really give a shit if your current edge is subsidised by emissions. But if it is, make sure you have a clear route to ween off and migrate to non-subsidised revenue...

Here's an answer that impressed me the other week. I was having a cocktail with Nigel from Score. He's a terrific biz operator. Walks the walk. I asked him, "If Bittensor vanished tomorrow...how much would it cost to replace all your miners and how long would it take?"

Without blinking an eye or skipping a heart beat, he replied "$***k per month and about 7-14 days." He/they are on the ball. Just like many other subnets are.

So the call to action of this post is that you are early, you may have battle scars because you are early, but you are correct in your conviction. Just by holding TAO or alpha is all you need to do. And not be weak-willed with the inevitable inbound tree-shakes...

The cherries on the cake will be US interest rates being cut and the FED and/or PBOC doing QE "not QE"...

You don't own enough TAO...

[Madeiras (📦,💫) @Madeiras19]

@CrashiusClay69 🚀

[borovik @3orovik]

panic sellers act like this