Less of the “tourists” and “weak hands” jibes, please.
I’ve been holding TAO since early 2023, but I’m a passive investor rather than a trader. I held various subnets for a year, but I sold a couple of weeks ago. dTAO is too volatile, with too much rotation and whale manipulation for investors like me who don’t want to check taostats constantly.
I really hope subnets succeed, as Bittensor wouldn’t be much of a project without them. Best of luck to everyone holding the tokens.
Good article. I agree and I’m in a similar situation. I left subnets to keep my TAO safe.
I think subnets will be great again in the future, and there are some really promising projects.
For now though, as you said in your article, it’s too risky to have my TAO parked in a small, illiquid and extremely volatile market.
Some subnets will eventually explode, but that’s the problem - only some will. If you simply hold the top subnets long term and hope your TAO will grow, as I did, it won’t work. For passive investors, there are too many bad projects, extractors, and too much rotation by whales to feel confident about holding long term.
It’s fine for traders, but not so much for passive investors like me. That’s why, with regret, I’m back in root.
I sold all my subnet holdings about 10 days ago. It wasn’t because I wanted to sell my TAO during a pump, but simply because my risk tolerance changed. I’d lost a lot of TAO just holding the top subnets over the past year and I wasn’t prepared to put up with it any longer.
There are some great subnet projects, but I got tired of my portfolio bleeding while I checked taostats multiple times a day. Now I can sleep better at night. I’m sure dTAO will eventually pick up, but there’s too much rotation, whale manipulation, and miner dumping for me to stay in that ecosystem. For now, I’m more comfortable sitting in root.
@Donaxbt I agree with you. Something needs to change because subnet holders have been losing out for too long. Watching your subnet portfolio lose value all the time is not sustainable. dTAO needs to be more welcoming to investors.
@investCryptobro Agree that there are too many extractors. Also, there were a lot of people that mined TAO early on that are still dumping. Have to wait until these people are out, and also subnet halvings should help too.
@CryptoZPunisher At the moment, zero. Last week I had 50% of my TAO in subnets but sold all and went back to root.
Too much dumping and rotating by miners and whales. The dTAO market /ecosystem is immature and not investor-friendly.
I’ll get back in when there are signs of improvement.
@TalkingTensor Extreme inflation will be behind us after the SN halvings. Until then, and even after to some extent, expect the extreme dumping by miners and whales to continue.
I agree with you. The SN market is still immature, and you always have to stay alert to handle it. That’s why I left. It’s not for me. I prefer to be a passive investor, buying and holding. I don’t like checking charts all day or constantly moving in and out.
I still think some of these subnets are good projects and doing useful work, but I’ve lost a lot of TAO just holding these SNs.
Good luck to anyone who can handle the ups and downs.
@DrocksAlex2 I’m tired of it all. I sold all my subnet holdings last week and moved everything back to root. Like you said, there’s too much switching around and the whales are playing games. dTAO isn’t worth investing in right now. Until things change, I’m staying in root.