Matt

Bitcoin class of 2016. Blockchains rewrite the failing social contract.

[Tom Dunleavy @dunleavy89]

Stablecoin volumes have already surpassed Visa and in 2026 will likely pass ACH to become the biggest payment medium in the world.

Crypto is officially mainstream.

H/T @a16zcrypto

[Matt @matt_potato]

@BlockEnthusiast @fiddyresearch Wouldn’t this be in a smart contract that couldn’t be defaulted on?

[Matt @matt_potato]

@smileycapital That you king?

[MartyParty @martypartymusic]

Solana’s core team Anza said last night’s liquidation event was the network’s biggest stress test, reaching 100,000 TPS (transactions per second) while remaining fully stable.

[Brian Rose, Founder & Host of London Real @LondonRealTV]

Only 18% of Wall Street interns own crypto.
Just 7% hold $ETH.

At first glance, that looks bearish. But it’s actually bullish.

Think about it—these interns are the future analysts, traders, fund managers. If most of them haven’t touched crypto yet, it shows adoption is still in its earliest stages.

As institutions, governments, and new generations gradually enter, the market size grows exponentially.

[Ejaaz @cryptopunk7213]

powell to cut rates

trump takes majority control of fed

money printer turbo mode

run up AI capex spend (north of $400B already)

U.S. gov takes equity stake in top beneficiaries (eg intel) propping debt with “americas finest”

GENIUS act turns crypto into largest U.S. treasury holder (already larger than Germany, UAE)

CLARITY act allows any american company to ico, drawing in even more foreign capital

*something breaks*

we crash.

but think we have a lot longer than people are estimating before things get ugly.

US knows AI is the only hail-mary so they have to send it.

[Matt @matt_potato]

@milkroad Aren’t these the guys who turned off the buy button for retail on GameStop?

[Matt @matt_potato]

I hope so Marty I hope so

[MartyParty @martypartymusic]

The next internet applications will be run on single state global distributed super computer networks (high speed blockchains)

These systems will be sub 150ms finality settlement and represent rich object models of the worlds users, their messaging between each other and their interactions with the commercial economy, shared globally as a single instance of human mindshare. All on chain, secure and composable.

The magnitude of efficiency and innovation in functionality this delivers will start the next human evolutionary chapter.

Slow gen 1 and 2 networks cannot participate.
Roll ups are irrelevant.
Layer 2s are irrelevant and transitory.
Nothing off chain will be relevant.
All development of functionality will transition to these networks.

Web content, apps and messaging will be served directly from the chain, there will be a single identity object for every human, not 1000s of logins and versions of you and your data.

Anything important will be onchain, there will a wave of truthful state that sweeps through our reality disrupting law, finance, social media, content consumption, news, and AI agents will co-ordinate with the network to bring hyper efficiency to the human race at levels incomprehensible.

Developers will rebuild the antiquated web 2 internet functionality on chain with autonomous co-ordination between value assets, services and users. There will be no APIs it will all be on the super computer in one giant object model.

This reality is already here you are just not aware of it.

Look further than money.
Money was the first use case for the truthful technology. Ownership is next, then markets, ID and then every human construct that requires truth and verification.

We have only begun to understand the collision of LLMs, AI Agents and the high speed open source public distributed super computing networks.

[Matt @matt_potato]

@martypartymusic I hope so Marty I hope so

[Kun @0x_Kun]

The middle class was built on homogenous stable jobs with long term viability

Jobs today are fragmented and insecure so a true “middle class” can’t exist as it’s no longer homogenous

The extremes then come to:
UBI
Taxing the rich

But neither will bring back a middle class

Without structural change we just whipsaw between voting extreme left & right with no solution until both sides of politics end up with communism or socialism

This is my longer term concern when thinking about the West - even with Trump trying to do things you can already see that Doge and other programs are hitting huge resistance

We need someone who is willing to die on the cross politically speaking to do whats needed where we think "this is not in his best interest but he did it for the people" - I think if we dont get that by 2032 we will be living in a serfdom

An the part that sucks about that is even if you are well off you cant escape it

[nairolf @0xNairolf]

the AI agents framework war is basically over

90%+ mindshare for virtuals

[Matt @matt_potato]

@KaiUzama @female_adonis don't you need a prescription?

[Matt @matt_potato]

@lior_eth Isn't the whole point that Bittensor incentivizes the tech stack to be created at the subnet level? Its value is in aligning incentives to create the tech stack, not be a tech stack itself.

[Matt @matt_potato]

@rawrmaan Not convinced that the mint and burn mechanism is good at all for value accrual to the token, but cool project nonetheless

[Matt @matt_potato]

@DrocksAlex2 @badenglishtea Yeah, Chutes is earning $152M USD of TAO per yr at a $100M market cap, lmao 152% returns in TAO. If it sustains the 16.5% emissions, things look pretty good. You do have to subtract the substantial alpha inflation to non-subnet owners though, only 4% alpha in circulation of FDV.

[Matt @matt_potato]

@DrocksAlex2 @badenglishtea Yeah, by my napkin calculations, Chutes (42B tokens / d) is at about 4% of what ChatGPT (~1T/d) is processing, which is quite impressive. I'm interested in how much market share it can take over this year.

[Matt @matt_potato]

@wizardofsoho Lol

[Crypto YoYo (τ,α) @Cryptoyoyo64]

@sobczak_mariusz

[TAOisTheKey @TaoIsTheKey]

With regards to $TAO dTAO subnet tokens, it’s really important to understand that, even though some of them have run a good amount, is the following:

1) Their market caps, EVEN for chutes, are still very low.

If you’re a crypto veteran, then you know that a $100mm market cap is still considered EARLY on a good project.

Many of you own $TAO and I can guarantee that the large majority of you bought it way higher than a 100mm mkt cap. I started buying TAO at a $180mm-$200mm mkt cap. And I felt like it was a STEAL.

2) This rally hasn’t been broad based. It’s largely been driven by Chutes, Gradients, Nova, Targon, and a select few others.

Most subnet tokens are still sub $10mm mkt cap and many are under a $5mm mkt cap and have yet to truly break out.

Don’t fool yourself into thinking there are only 5-7 really great subnets that are worth buying. So many subnets are doing great work, building useful and revolutionary AI tools and services, and spending lots of time building in public and communicating with the TAO community.

It’s not 5-7 subnets that make Bittensor revolutionary. It’s going to be hundreds and then thousands of subnets, and the way they interact with and feed off each other that make it revolutionary.

3) We’re not even a full 90 days into this ecosystem being live. May 14 marks 90 days. If you think there is no more opportunity left bc it’s run a lot already, you are going to be very upset when the train TRULY leaves the station after this correction and breather period. We are going so much higher.

4) TAO is currently sitting at a paltry $2.9bb mkt cap. This is a $100bb mkt cap project minimum in the next 1-3 years.

The more interest and exposure $TAO gets, the more people buy TAO.

The more people by TAO, the more they will start to get exposure to the ecosystem and the subnets.

Eventually, that TAO will flow into subnets. They probably will be a lag time between when people buy TAO and when they start to invest in subnet tokens because it takes a little while to wrap your head around the whole thing.

But it’s coming and I’ll tell you why I know this for sure:

Because greed knows no bounds.

And the more people start to understand the opportunity there is in these subnet tokens at such low market caps, the more they will be willing to risk it for the biscuit. That’s just the way greed works.

Couple that with M2 rising exponentially rt now, an improving landscape across risk assets and bitcoin starting to fly as well as other alt coins starting to fly, and confidence will come back to the market.

There’s no way in hell that that confidence and sidelined cash is not going to find its way into the subnet ecosystem.

Look at what https://t.co/g2qJDjEZBS accomplished with absolute garbage scam tokens? Billions were pumped into that garbage.

You don’t think that the best decentralized AI competitor to OpenAI, AWS and Google is going to be able to draw attention from the greater crypto markets and even institutional money as a he word keeps getting out?

This is the most obvious play since bitcoin was launched in 2009.

If you’re scared off by dips in the subnet tokens, it’s likely because you don’t fully understand what this ecosystem is and what’s coming. Know what you hold. When you know what you hold, dips are for buying, not panicking.

The more we dip, the more I will buy.

[Matt @matt_potato]

@DrocksAlex2 @badenglishtea Since Chutes is basically being subsidized by the TAO it's earning, I wonder if long-term it will be able to sustain adoption if/when this flow of TAO reduces by charging customers - perhaps its adoption is rising so fast because Bittensor is effectively subsidizing it.