⚫️ @chamath just lauded @tplr_ai's decentralised and permissionless 72B parameter pre training model to Jensen Huang, the CEO of @nvidia
All roads lead to #bittensor..
$TAO
What $TAO's @VantaSN8 is building:
A decentralized prop firm that can't:
• Manipulate spreads
• Deny payouts arbitrarily
• Change rules retroactively
Bittensor | $TAO
Why?
Approximately 94% of traders fail to complete the challenges during the first or second phase, with only 6% successfully meeting the profitability and drawdown requirements.
Of the small percentage 6% who do succeed in completing the challenge, an overwhelming 98% choose to sever their ties with the prop firms within the following six months.
Even more damning:
Around 3% of all applicants get funded. Of those 3%, about 10–15% make a payout. That means 0.3% to 0.5% of all traders actually make money in the end. (Dealpropfirm)
92% of traders reported issues with prices that do not reflect real market conditions.
73% experienced problems with their orders not being executed as expected, particularly when they were set to generate profits.
The business model speaks for itself:
The firm profits off failed challenges and subscription renewals. According to DailyForex, 90%+ of challenges fail, and those fees are sufficient to pay the small percentage who do get funded.
Most funded accounts are demo accounts. No real trading occurs.
Italy's Consob (regulator) found that prop firms were making challenge tests "contrived to push players to try again"
For most prop firms, their primary business is selling the dream of getting funded, not the actual business of funding traders.
The industry grew 1,264% between 2015-2024. Between 2023-2024, an estimated 80-100 prop firms closed due to tighter rules.
This is a $20B industry.
0.5% of traders ever get paid.
94% fail challenges.
92% report non-market prices.
73% have winning orders cancelled.
And the funded accounts?
Mostly demo accounts.
The business model isn't funding traders.
It's selling the dream of being funded.
Now imagine a prop firm that can't cheat you.
Open-source. Verifiable payouts. 0% take.
No news trading rules designed to eliminate winners.
That's what @taoshiio@VantaSN8 is building.
Sources:
https://t.co/JtXOGNLYZL
https://t.co/4rtd8BgCOg
https://t.co/m91AoQJLyZ
Exciting News: Chutes SN64 Alpha Token Will Be Listed on MEXC!
We’re thrilled to share that the Chutes SN64 Alpha Token will be officially listed on MEXC Exchange tomorrow, making it easier than ever to participate in the Chutes ecosystem.
A lot of people are going to think I’m crazy but I really do believe that we can grow the size of @Bittensor by 1,000 times from today… Maybe even 10,000 times.
This top band on $TAO should act like a magnet here..
- Broken out of year long downtrend
- First ever #Bittensor Halving in 40 days
- Subnet products going live
- Major ecosystem upgrades coming
- Alpha's bottomed out
- Huge subnet partnerships and developments
People are now starting to realise just how stupidly undervalued and scarce $TAO is
The great repricing is underway..
$TAO
Bittensor at $100B MC next year will be cute.
We need to scale to $1T+ shortly thereafter.
The best teams in the world need to be competing.
It will happen.
Permissionless, borderless, cryptographically scarce, deflationary incentives for continuously improving openly developed AI … is the only way to guarantee decentralized collaboration (aka real progress) for all of humanity.
Not just inference. Not just compute. Not just training data. All of it. Everything. End to end.
Maybe an unpopular opinion..
But I think where most people will go wrong this cycle is by comparing it to previous ones..
When in reality, we’re playing an entirely different game now
It's just fundamentally not the same anymore
- Massive ETFs
- Institutional crypto custody
- US government embracing #Bitcoin
- Digital asset treasuries
- Stablecoin regulations
- AI + blockchain convergence
- Crypto friendly SEC
- Nation state #BTC adoption
We're in the cycle where Bitcoin and crypto are becoming part of the system
I think we're in completely unchartered waters
And you can see it in the way most of the market has behaved.. its been no where near similar to past cycles
So yeah.. This time is different
What happens when a brand new product is released..
And the product is not only better than the global leading solutions.. but also way, way cheaper?
There can't be many instances in history where that has occurred..
Usually if its cheaper then its slightly worse.. and if its better then its valued on par or slightly more
But better AND cheaper?
We're abouts to find out with @ridges_ai
Even if #Ridges product isn't better on day one.. given the new product incentive mechanism, the rate of improvement will be rapid
Meaning within a couple of months, it will be better than Cursor or Claude and the gap will only widen
I think people are sleeping on @ridges_ai here..
$TAO
I feel like the last bull standing..
Everyone on my timeline's flipped to bear market mode
- You do not get a cycle top when everyone’s convinced it’s the cycle top
- You do not get a bear market when everyone's convinced its coming
Higher..
I’ve been talking about #Bittensor pretty much every day for over three years now
When I first started posting, $TAO was under $15..
And honestly, apart from a few small groups tucked away and some absolute legends spreading the gospel.. there wasn't a lot of chatter about it online
Back then, it wasn't really about the price.. it was just obvious that there was something special about #Bittensor
I started posting every day, trying to break the vision down piece by piece.. one thread or post at a time
I remember thinking..
“This shit is genius.. but it’s too complex for most people to understand”
So I tried to bridge that gap.. to break it down in simple terms, to make it relatable and to show why it matters..
Not from a technical angle, but from a dumbed down human one
It wasn’t always perfect, my dumb monkey brain is not that great and half the time I was learning as I went.. but I felt it was needed
To help spread the word about what $TAO was creating.. even if it meant figuring it out in real time with everyone else
I just hoped a few people would see what I saw..
That this thing could change everything.. and maybe give them a chance to jump aboard before the rest of the world caught on
Because #Bittensor was never just another crypto project.. It was something new all together
A network where intelligence itself is decentralized, shared and rewarded
A powerful, open system where knowledge competes, collaborates and evolves
Where incentives literally drive the creation of intelligence
That shit is fucking powerful..
At its core, #Bittensor is the coordination layer for all intelligence.. the protocol that could define how humanity builds and aligns AI at scale
Looking at it now.. it’s grown into something far bigger and more powerful than I initially imagined
It’s moving faster, attracting absolute chads and starting to ripple through the wider world..
Yet.. it still feels super damn early
My conviction in #Bittensor is stronger than it’s ever been
I’m proud of every single person who’s helped push this thing forward..
Everyone in the community who’s been out there spreading the word along the way..
Every builder who saw the potential of #Bittensor and decided to take the leap..
All the people quietly running the infrastructure that keeps this shit alive and growing..
And now its the new wave.. the guys and girls helping take $TAO to the level it deserves to be
I’m just a tiny barnacle hanging onto the side of some insanely talented whales.. yelling from the back while they quietly build one of the most groundbreaking technologies humanity’s ever seen
Its been wild watching this evolve from a small idea into a global movement
There has been some dark days, for sure.. but now is where the real fun begins
#Bittensor is about to take the world by storm..
You ready?
$TAO
One day, someone will tell you they bought $TAO when it was $300..
And you’ll feel the same way people do now when they hear someone bought #Bitcoin at that price
$TAO