Hash Rate - Ep. 189: Jev on Bittensor SN92
🧙 Guest: @airesearch12 of @decisionmodels_ and @reaxlabs
Rent Jev models: https://t.co/52owdshpYR
Mine SN92: https://t.co/7Py3ZLbpQU
00:00 Introduction
02:02 Viral success of Florian's subnet announcement
03:26 Launch of https://t.co/52owdshpYR
04:42 What's Jev?
06:16 Jev models v. traditional LLMs
08:26 Speed, cost, and intelligence
13:06 Jevbench
15:10 Open source Jev
22:07 Jev models in $TAO Subnets
27:24 Mining
33:24 Leaderboard
41:04 Decentralized Training of Jev models
49:37 Impact on traditional AI giants
55:19 The democratization of AI
Bittensor doesn't need to beat GPT-5 on a benchmark.
It needs to be the place where the next efficiency breakthrough gets built, deployed, and priced by competition instead some where in San Francisco.
Chamath said to get out before this seeps into the water table.
What he didn't say is where the value goes when the incumbents crack.
It goes to whoever built the open market.
The people who read the docs already knew $TAO wasn't done after $236.
$TAO just printed ~$250.
24h: +10%
Week high: $277
Volume holding the $180M to $240M range
Capital can now route ETH and USDC straight into TAO and subnet tokens. No wrapping, no bridge theater.
Bittensor is pricing the marketplace, not the narrative.
Next targets unchanged:
$350
$500
Volume precedes price. The chart is always the last to know.
NFA | DYOR
Everyone watching TAO price action.
Nobody watching what's actually happening inside the network.
Subnets stopped being experiments. Now they're:
- Generating real revenue
- Signing enterprise clients
- Publishing peer-reviewed research
The subnet layer is where value actually accrues, not the token ticker.
7 Bittensor subnets doing real work right now:
@chutes_ai - Inference layer already doing ~$5.5M annualized. Real usage, real developers, and one of the clearest revenue signals across all subnets.
@tplr_ai - Decentralized pre-training. Running one of the largest permissionless training experiments, with actual academic validation (NeurIPS).
@webuildscore - Computer vision subnet with enterprise clients (sports, retail, infrastructure). Turning video into structured data at scale.
@yanez__ai - Compliance + RegTech. Generates adversarial datasets to stress-test KYC/AML systems. Selling directly to financial institutions.
@metanova_labs - Drug discovery subnet. Early stage, but targeting a massive market with asymmetric upside if validation works.
@IOTA_SN9 - Pre-training competitor targeting undervalued training infrastructure. Positioned as a value play within the training layer.
@TargonCompute - Confidential compute subnet enabling private AI execution. Focused on secure environments for sensitive data and models.
Nvidia is worth $4.4 trillion.
OpenAI just raised $110 billion in a single round. More than all of crypto VC since 2022. Combined.
And the #1 AI blockchain is sitting at $2.3 billion. Nobody is paying attention.
Bittensor just ripped 30% in a week. Not on hype. On a real technical milestone.
A team on Subnet 3 just trained a 72 billion parameter language model. Fully decentralized. No central cluster. Anyone with GPUs could join.
That's never been done before. Anywhere.
Here's what most people are missing about Bittensor:
• 21 million max supply. Same as Bitcoin. 4-year halving cycle. No pre-mine.
• First halving already happened December 2025. Daily emissions cut 50%.
• Grayscale filed for a TAO ETF (ticker: GTAO) on NYSE Arca. Bitwise is right behind them.
• Founder stepped down February 2026. Fully headless protocol now. No CEO.
• 129+ active subnets producing real AI products. Not roadmap promises.
• Subnet market cap hit $822 million. Record 27% of TAO's total value.
The subnets are what make this different from every other AI token.
Chutes (Subnet 64) is the #1 inference provider on OpenRouter. Beating centralized players. 85% cheaper than AWS. First subnet to $100M market cap.
Ridges (Subnet 62) builds autonomous coding agents. Outperformed Claude 4 on benchmarks. Backed by Stillcore Capital. $10K+ daily prize pool for miners.
Bitcast (Subnet 93) is building a decentralized creator network. Brands pay for results. Creators earn TAO. No contracts. No middlemen. Up 50% this week alone.
While most of crypto chases memecoins, capital is quietly rotating into AI.
AI tokens led the entire market last week. +7% sector-wide. Bitcoin did 2.5%.
The ETF filing is the part nobody is talking about.
Think about what the Bitcoin ETF did. $42K to $73K in three months. TAO is at $2.3 billion market cap right now. Imagine institutional money pouring into that.
AI is not a trend. It's the infrastructure of the next 20 years. And the largest AI blockchain is still early.
Most crypto tokens were designed so founders and insiders got rich while you held the bag.
$TAO is structurally different.
No Pre-mine.
No VC rounds.
No Massive founder allocations.
Most are Locked tokens that “unlock” and dump right when retail FOMO hits. Same story every cycle.
BITTENSOR is built completely different.
- Fair launch. No pre-mine. No VC slush fund.
- 21 million hard cap, just like Bitcoin.
- Every single $TAO emitted goes to people actually doing the work: miners (41%), validators (41%), subnet owners (18%).
- You stake, you mine, you build a subnet, you earn. No one gets a free 20% slice at genesis.
- Subnet alphas let anyone capture upside from real products (leads, inference, predictions, compute) without waiting for some insider unlock schedule.
The incentives are aligned with the network, not with a small group cashing out.
That’s why this one actually has a shot at becoming the infrastructure layer for decentralized intelligence instead of another exit liquidity play.
Enough of the same old shit.
This one was structured for the long game.
$TAO #Bittensor
Early…YES....but the structure is finally right
@SJosephBurns Every mutual fund. Money comes in and it does not go straight to investments. It is held in cash and can be used for redemptions. Isn't that the definition of Ponzi?