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$TAO
-To be in the top 1000 holders all you need to hold is 335+ $TAO ($18,000)
$BTC
-To be in the top 1000 holders you need to hold 1439+ $BTC ($31.26m)
Understand what you hold and how early you are..
Understand the scarcity of $TAO & $BTC
So many big accounts & AI specialists speak about the need for @bittensor_ without even knowing its existence..
Only a matter of time before the masses find out & see the true potential of @bittensor_ $TAO
Cryptodaz_fx retweeted
The wait is over. Hippius is now on iPhone and Android.
It's been a long time coming, but now it’s here for everyone.
Back up your photos and files automatically, encrypted on your phone before they upload. No one can read them but you.
Your whole Drive, now in your pocket.
Cryptodaz_fx retweeted
What happens if the internet goes down? BlackSky - the UK's emergency backup plans bbc.in/4BLDC3u
Cryptodaz_fx retweeted
🥇 REAX 1.3 is #1 on the Hugging Face Decision Index.
We produced the best decision model in the world.
274 models. One top spot. Built on Bittensor $TAO.
Four weeks ago, Subnet 92 didn't exist. Then the miners went to work: an open competition, two selected miner models, one post-production run.
Now REAX 1.3 sits at the top of Decision Index 0.4.1 with a Full score of 74.0.
This is what decentralized AI looks like when it ships.⚡
Live today on a Jev-compatible API
decisionmodels.io
huggingface.co/spaces/multim…
Cryptodaz_fx retweeted
I've been doing quite a bit of research into $MORE since it launched on the London Stock Exchange last Wednesday, and the more I understand the structure, the more interesting I think it becomes.
For anyone looking for income from UK-listed investments, an initial 12% annual dividend paid weekly in sterling is difficult to ignore.
But I don't think it's simply the 12% that makes MORE interesting. It's the combination of the dividend, the variable-rate mechanism, the reserves behind it and what we've already seen happening with similar products in America.
Firstly, let's look at what's available in the UK preference-share market.
Lloyds Banking Group 9.25% preference shares (LLPC) are currently yielding approximately 6.7%.
Lloyds 9.75% preference shares (LLPD) are yielding around 6.6%.
Ecclesiastical Insurance 8.625% preference shares (ELLA) are also yielding approximately 6.6%.
Those are running yields based on market prices as of 16 October, rather than the headline coupon rates.
All three are established UK preference shares, and investors have been prepared to pay significantly above their £1 nominal amounts to receive that income.
Now compare them with MORE.
MORE has a £100 dividend reference amount and launched at £90 per share with an initial annual dividend of £12.
That represents a 13.33% running yield for those who bought at the IPO price, assuming the dividend rate remains unchanged.
That's roughly double the running yield of those established UK preference shares.
Naturally, the risks aren't identical. Lloyds and Ecclesiastical are established financial institutions with very different balance sheets. MORE is new, and its issuer has significant exposure to Bitcoin.
But I think the yield premium makes it worth investigating.
The really interesting comparison, though, is with $STRC and $SATA in America.
Strategy's STRC currently carries a 12% annual dividend, calculated on $100 per share, with payments twice monthly.
Its dividend rate is variable, and Strategy has made clear that one of its objectives is to encourage the shares to trade consistently close to $100.
When STRC trades below that level, management can consider increasing the dividend rate to make the shares more attractive to income investors.
A higher dividend can bring additional demand, potentially helping the share price recover towards $100.
It's important to understand that this isn't automatic. Strategy considers market conditions, reserves and other factors, and the share price can still fall below $100.
Strive, whose ordinary shares trade under $ASST, has developed a similar product called SATA.
SATA currently has a 13% annual dividend, paid every business day.
Strive tightened its target trading range to $99–$101 earlier this year and has now gone a step further, introducing a binding restriction preventing the company from issuing additional SATA shares below $100.
That's a significant difference from a conventional preference share.
Strive has demonstrated that SATA can return to around $100, although it hasn't stayed there permanently. The variable dividend and disciplined issuance policy provide tools to help support that objective.
Which brings me back to MORE.
MORE's initial dividend is 12%, but the board can adjust that rate.
It can be increased to a maximum of 20% annually. Reductions are restricted to 0.5 percentage points over any four-week period, and the rate cannot fall below the Bank of England base rate plus 1%.
That flexibility could become extremely valuable.
If MORE trades below its £100 reference amount, the company has the ability to make the income more attractive by increasing its dividend rate.
As an example, at £90 a share, the current £12 annual dividend represents a 13.33% running yield.
If the dividend were increased to 14%, the running yield at that same £90 share price would become 15.56%.
You can see why variable-rate preferred shares have the potential to attract additional buyers when prices weaken.
Of course, increasing dividends also increases the issuer's costs, so it has to be managed responsibly.
Another feature I particularly like is that MORE's dividends are cumulative.
If a dividend isn't paid, the unpaid amount accumulates rather than disappearing. Those arrears don't earn interest, but while they remain outstanding, restrictions apply to reducing the dividend rate and making distributions to ordinary shareholders.
MORE also has a £100 liquidation preference, ranking ahead of ordinary shareholders but behind creditors.
And if the company chooses to redeem the shares, the contractual redemption amount is £110 plus accumulated unpaid dividends. That is the company's option, not something shareholders can demand.
Now here's something I think deserves far more attention.
MORE launched with a dividend cash balance equivalent to approximately TWO YEARS of payments at admission.
That's a meaningful starting point for a brand-new income product.
The Smarter Web Company, which issues and backs MORE, has also completed a £210 million capital reduction to create distributable reserves. Those aren't £210 million of cash, but they are relevant to the company's legal capacity to make distributions.
There's also the Bitcoin treasury and income from its operating businesses, although Bitcoin itself doesn't generate cash income.
The two-year cash coverage is based on the position at admission, not a permanent guarantee. If more MORE shares are issued or the dividend rate rises, the dividend obligation grows and the cash balance needs managing accordingly.
For me, the next stage is going to be fascinating.
MORE has only been trading since 14 October. It needs time to develop liquidity, establish a reliable payment record and build confidence among income investors.
STRC and SATA have had longer to establish themselves, build investor followings and demonstrate how variable-rate preferred shares work through changing market conditions.
MORE is at the very beginning of that process.
What interests me is the potential for the UK income market to start valuing MORE as a serious alternative to more conventional preference shares.
A 12% initial dividend, paid weekly in sterling, with a variable-rate mechanism, cumulative dividend protection and approximately two years of initial cash coverage is an unusual proposition in the UK.
And if MORE can develop a consistent payment history and meaningful liquidity, I think there could be considerable demand from investors looking for income rather than ordinary-share growth.
The UK has a huge investment market, with investors holding income-producing securities in ISAs, SIPPs and other accounts.
MORE is eligible for both ISAs and SIPPs, subject to provider availability.
I'm not suggesting the price is guaranteed to reach £100, or that a 12% dividend carries the same risk as a traditional bank preference share.
But I do think the American experience gives us a very interesting example of what these products can potentially become.
And when I compare MORE's initial income proposition with what is currently available in the UK, I can't help thinking this product deserves a lot more attention than it's receiving.
It's early days, but I'm very bullish on the potential for $MORE to establish itself in the UK income market.
$MORE $SWC $STRC $ASST $SATA
ethereum:0x4a220e6096b25eadb88358cb44068a3248254675 is the most overbought it’s ever been on ever single time frame
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Cryptodaz_fx retweeted
I know you guys are lazy and don't like to read long articles. So I tasked Claude to create a short documentary to explain the premise of $TAO. It isn't perfect but it is pretty watchable!
Do me a favour, give it a go?
@lium_io @engyai @webuildscore @taodotcom mentioned.
bittensor:native
Ok, I just put together a proper effort post here, so hopefully you read it, but the TL;DR is that TAO hits all the notes you mentioned above. You want a coin that's essential to an AI business, where that business generates real-world value and that value drives back to the coin itself. That's Bittensor.
I am going to assume you don't know much about Bittensor beyond the "AI Bitcoin" moniker and start with a brief origin story, since I think it's important and helps illuminate where "AI Bitcoin" came from. The interesting thing about Bitcoin for the Bittensor story is that it figured out how to use a token to bootstrap a decentralized compute network, owned by nobody and accessible to everyone, that to this day is the largest computing network on Earth. Bittensor's founders are AI researchers. They knew how important compute was going to be for building AI, and they set out to build the same thing for intelligence: a decentralized intelligence network, owned by nobody and accessible to everyone. Just as Bitcoin could coordinate a disparate group of people to fight centralized control of money, perhaps a new primitive, Bittensor, could be designed to fight the coming centralized control of intelligence.
So they abstracted the Bitcoin incentive system (i.e., spend energy securing the network by solving SHA-256 hashes, get paid in BTC) so it could be applied to a whole new set of problems, all aimed at one goal: mining for intelligence. Mining SHA-256 today on Bitcoin is incredibly difficult, but as a system it's simple and objective. Mining for intelligence is orders of magnitude more complex. It's subjective, so it has to be scored on a gradient (study: Yuma Consensus), and there are multiple components that all need to be mined (compute, data, algorithms, etc.). That's where subnets come in. Each one tackles a piece of the problem.
(1) Outside revenue + value to the tokens:
It took years and a lot of iteration, but Bittensor is now doing exactly what it set out to do. It's mining intelligence.
Compute/inference: ~5 subnets are coordinating GPUs around the world to serve raw compute and inference into the open market. Customers range from retail to enterprise, with the crypto abstracted away entirely. Estimates vary, but I put this group at ~$40-50MM aggregate ARR and scaling fast (for context, think ~200% QoQ and ~50% MoM growth).
Training: two subnets are doing SOTA decentralized pre-training right now (SN3 and SN9). SN9 just wrapped up a 100B-parameter run with the highest MFU reported for a distributed pipeline-parallel run. SN3's current run is a 110B-parameter model, the largest decentralized pre-train ever attempted. These teams are past proof of concept and working on scale. And SN120 Affine is post-training Chinese OSS models at SOTA levels.
Applied AI: a whole set of subnets incentivize miners to build verticalized models that power real products. Score for computer vision. RedTeam and Bitsec for cybersecurity. Minos for genomics. Yanez for identity and fraud. Trishool for alignment. Vidaio for video compression. I'm missing plenty more. These are real products being used in the wild by enterprises. I'd put this category at $10-20MM ARR, also scaling quickly.
For context, 12 months ago I'd have said ARR across the entire network was under $5MM. The TAMs here are massive, and the blue-chip subnets are exiting the pre-revenue stage and entering the scaling-revenue stage right now.
Critically, these teams are taking that revenue and buying/burning their tokens. Not because they're altruistic. Because the network makes it the only rational move. Two reasons for this:
(1) A subnet pays its miners in its own token, a fixed number of tokens per block. So the only way to grow the supply side (more GPUs, better models, more output) is for the token to go up. If you're a compute subnet and want more capacity, you take your revenue, cover miner COGS plus some margin, and buy your token. Buy pressure on your token becomes a derivative of your compute bill. The token is the production budget.
(2) And the chain runs the same game one level up. Subnets compete against one another in a fight for daily $TAO emissions, and the scoreboard is the price of each subnet's alpha token (a clever way to let the broader market instruct the protocol on how to allocate its resources). The winners get a bigger share, and for mature subnets that TAO goes straight into buying their own token off the pool. Fall too far in the ranks and you not only lose out on emissions, you risk being deregistered.
So you might astutely point out that revenues < emissions today. That is true, but the trend is our friend. Bittensor is essentially running the Uber playbook, which I would argue a cryptocurrency is tailor-made to do. Use the token, rather than VC funding, to bootstrap supply before the demand exists. Once supply is there, demand scales and the flywheel kicks in: demand up → revenue up → buy+burns → alpha price up → miner rewards up → more/better supply → repeat. The early alpha buyers were the pre-revenue seed/Series A investors. Now we're entering the revenue/scaling era.
Although revenue isn't yet covering emissions, as discussed above, it is growing. Meanwhile, the supply side is in its first halving cycle. TAO had its first halving last December, alpha halvings are coming in 2027/28, and the subsidy shrinks on schedule as revenue takes over. I am not speculating here either - a couple of subnets already bring in more from customers than they pay out to miners.
Important to mention: to buy and burn its alpha token, a team has to buy TAO first and stake it into the pool that pairs TAO against its token. Every alpha burned leaves TAO behind in the pool. ~2M TAO already sits in those pools, and every subnet token can only trade against TAO. So subnet revenue = TAO buy pressure, mechanically. Speculative investing in subnets = TAO buy pressure. Subnet/miner/validator registrations = TAO buy pressure. Taken to its logical end... TAO is literally an index of all 128 subnets, or in other words, an index of 128 AI startups building on crypto rails.
(2) It's cypherpunk:
TAO also represents the right ethos for crypto x AI. It leverages a novel crypto primitive to bootstrap networks that coalesce edge compute and edge talent from around the world, coordinate them to produce the real inputs to intelligence (compute, data, algos, etc.), and serve them to anyone, anywhere. A network that serves open, permissionless, decentralized, uncensored intelligence. A true alternative to centralized labs and governments. And because it harnesses the world's edge compute and talent, it can scale in ways the fiat companies just can't.
(3) You're still early:
The top 3 compute subnets are ~$100MM market caps. The next two are $30-60MM. Promising subnets in other categories are sitting at $10-20MM. There are 128 subnets today and there'll be 256+ down the road. Maybe many more in the future. Bad teams get deregistered and new ones take their place. As the ecosystem grows, so do miner and owner rewards, which pulls in more teams and better talent. There will be fantastic teams launching subnets a year from now that you can buy at $5-10MM or less.
CT isn't woke to this. 99% have not bridged over to the native Bittensor chain to participate in this ecosystem. Cross-chain bridges are only just going live. In my mind, this screams opportunity.
And that's before you get to TAO itself, the L1/index/launchpad under all of it, sitting at ~$3B. That's comically low. Its 1:1 comp is ETH at ~$327B. 100x with size is viable here.
Will follow up with some longer-form sources to check out.
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Cryptodaz_fx retweeted
Hey @DCENTWALLETS why so quiet?
What’s going on?
When will you release more info about what happened?
Who’s affected?
Several reports of hardware wallet users losing funds too
And update would be cool
Thank you
Cryptodaz_fx retweeted
The Hippius mobile app is live on Android.
Your photos and files, backed up automatically and end-to-end encrypted on your phone before they ever upload.
The same account and storage you already use on desktop and web. Your whole cloud, now in your pocket.
iOS is coming next.
Cryptodaz_fx retweeted
I’m a lot more concerned about Jews using AI to kill humans than AI using AI to kill humans.
Today’s announcement marks an important step for The Smarter Web Company. Subject to approval of the Prospectus by the FCA, launch, and all conditions to the Possible IPO being satisfied, we expect the proposed Preferred Shares to be the first of their kind in the UK: a pounds sterling-denominated, London Stock Exchange Main Market-listed perpetual preferred share issued by a UK-incorporated commercial company with a Bitcoin treasury strategy. We have been working towards the Possible IPO for some time, and I am very pleased that we are now able to share this exciting development with our Shareholders.
The proposed Preferred Shares are designed to provide an additional source of long-term capital, broaden the range of investors able to invest in the Company and further diversify our capital structure. We believe that by providing a differentiated investment option alongside our Ordinary Shares, we can create a capital structure that gives us greater flexibility to pursue our long-term ambitions through different market conditions.
This is a natural next step in our 10-Year Plan and supports our ambition to build a stronger, more adaptable business, combining the growth of our operating businesses with the continued development of our Bitcoin treasury strategy to create long-term value for our investors.
LSE: #SWC | OTCQB: $TSWCF | FRA: $3M8
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Cryptodaz_fx retweeted
Hey @grok
Is this quote by Martin Luther real?
