Tips for those new to TAO who are sincerely interested in this insane new technology: 👇
1⃣ Careful who you follow- many KOLs are new to bittensor and they think it's just another AI crypto. The tip here is to scroll through their post history and look for posts about bittensor from before a week ago when @Jason and @chamath started shilling.
2⃣ Understand that Bittensor is way bigger than anyone can possibly imagine. This is due to the radical free market nature allowing for maximum human creativity and participation in producing bittensor commodities. It's not just a crypto, it's the first global free market where people can create/mine/buy digital commodities with sane tokenomics without middle-men.
3⃣ Be careful buying subnet alpha tokens. Alpha tokens come with significant risk. On the other hand, staking TAO to root (subnet 0) is risk-free and. I don't recommend risking much on alpha until you've been playing with small amounts for MANY months and get used to the alpha markets.
4⃣ If interested in learning more about how it works, the first few videos in this playlist go over the various parts of the network in detail https://t.co/W2z3ZjaCR7
Amateur FUD. At the very least mention @Bitcast_network is paying us to shill TAO.
I guess if you mentioned @Bitcast_network then you'd have to acknowledge it's the first/only flywheel on bittensor so far and that'd be a self-defeating argument.😏
Though there's a lesson out of this- we're now in the "I don't know if this person actually understands TAO or if they're just shilling their bags thinking that TAO is just another crypto"-stage.
Hard to say who actually understands bittensor and will be here for the long run and who understands the insane economic engine that has been built.
Honestly, bittensor has highlighted the need for more benchmarks- because we honestly don't know which service providers are the best in the world. A few years ago I had an idea for a subnet like @zeussubnet , some sort of weather prediction subnet. And I wanted to find out which weather forecaster was currently the best.
You know what I found? They all said they were the best, but there wasn't any way to properly benchmark them against each-other.
We can build the best commodities on earth thanks to global competition. There's NOW a reason to measure/prove that fact for bittensor subnets, whereas with traditional businesses, there wasn't.
The worst part about @tplr_ai#sn3 is that they make my videos old, fast. This video is from 10 months ago when they were training a 1.2B model. They're at 72B now, making this video's model size roadmap complete.
So now my video is obsolete 😭
Insane progress @DistStateAndMe
I know we all enjoy looking at bittensor subnet APY. However, I've been ignoring APY since I've always thought it would be negated by the alpha supply increase (until maybe first subnet halvings?). I don't know if anyone has done the math on this yet, but I'm starting to and will eventually add and surface the data on https://t.co/M7cIsu0exk
So far:
Last month the median circulating supply increase for subnets was 6%. Supply increase is affected by taoflow (more TAO+Alpha into pools per block), miner burn %, and manual burns (usually in the form of buyback+burn).
Let's look at some subnets:
1⃣ Subnets with <1m alpha have maximum alpha supplies that increase drastically every month. Like #sn80 - went from 418k max supply last month to 694k this month, a 65% increase in supply in 1 month!!
2⃣ The best happens to be #sn20 ⁉️whose max supply in alpha went DOWN from 4.2m alpha to 3.6m alpha due to a massive manual burn by the subnet owner 👏👏
3⃣ The best from a subnet owner who didn't do manual burns was #sn3 @tplr_ai whose alpha supply increased only 2% from 4.1m to 4.2m. The caveat here is that the subnet was at 100% miner burn (not producing work) for most of the month. The good news is that @DistStateAndMe is being very conscientious not to dilute the token with miner sell-pressure while the subnet is not in use.
4⃣ My #1 favorite subnet as far as a subnet who has been productive (low miner burn AND very low supply increase) is #sn51 @lium_io . Their alpha supply increased by only 3.5% from 3.67m to 3.81m. Their buyback+burn is temporarily on hold (and piling up), which means the supply increase could be reduced even further once it's switched back on (although with buybacks+burns, they will likely cause more alpha to be emitted into their pool so it's hard to say). However, if we're being fair Lium's alpha supply increase was low mostly because it didn't have pool injections all month.
5⃣ #sn64 @chutes_ai had pool injections for half the month and was still able to squeeze under the median with a 5% alpha supply increase (4.4m->4.6m) last month due to their buyback+burn policy.
So the question is- is the 6% supply inflation going to offset the 60% APY on your favorite subnets? What are your thoughts?
It's insane to keep up with everything going on with bittensor. But you know what's been really easy recently- video ideas. Can't even keep up with all the wild stuff happening.
Another one very soon on the subnet owned by an AI 🤣
At this point, I don't think anyone can doubt that we're at the start of the singularity. We've got bittensor subnets starting their flywheel, we've got AI agents running and improving trading strategies. We've got AI agent subnet owners. We now work for the machines. Wen neo?
Bittensor's most historic moment: First Flywheel
🚀🚀🚀
🪰🛞
Exactly how the first Bittensor Flywheel works and how it offsets miner emissions.
TAO Bullishness - still at max.
https://t.co/paVgvzHS0X
tldr; we need educated stakers for Bittensor to succeed. That's what I'm pouring all my time into via my youtube channel and https://t.co/sm7kinCLPp !!