Bittensor Halving: What's the Deal?

Bittensor's Halving: Is This Just Crypto Bro Deja Vu?

Okay, so Bittensor's doing the halving thing on December 10th. Big whoop. We've seen this movie before, right? Crypto does a thing, prices pump, everyone shouts "To the moon!", and then, crickets.

Halving Hysteria: A Familiar Tune

TAO's up 50% in the last month. Color me shocked. Anytime anything even smells like Bitcoin, the lemmings line up to throw their money at it. It's like clockwork. And yeah, I get it, TAO’s tokenomics are “modeled after Bitcoin’s.” So what? Modeling after something doesn't guarantee success. It just means you copied the homework.

We're told BTC usually pumps after the halving. Except this year, it pumped before. So already, the "rules" are out the window. And now we're supposed to believe Bittensor will follow the old rules? Give me a break.

Then you have the "expert" opinions. Sami Kassab from Unsupervised Capital expects the price to keep going up. Offcourse he does. He's got a vested interest. These guys are always saying the same thing: "Buy my bags!"

And this subnet valuation crap? $1.28 billion? Up 100% since August? Who even knows what these subnets do? Are they actually contributing anything of value, or is it just a bunch of nerds patting each other on the back and inflating their own egos?

Subnets and Silbert: Follow the Money

Speaking of subnets, apparently Subnet 64 (Chutes) and Subnet 62 (Ridges) are the “leading” ones. And Yuma, led by Barry Silbert, is all over the place, contributing to 14 different subnets. $71 million of the circulating subnet valuation is tied to Yuma. So, it's all connected, isn't it? It's the same old story: insiders propping up insiders.

Greg Schvey from Yuma Asset Management says institutions are finally recognizing Bittensor as "an important component of global AI infrastructure." Oh, really? Since when did institutions become so smart? Last I checked, they were still trying to figure out what a blockchain is.

I mean, maybe I'm missing something. Maybe Bittensor really is the future of AI. But let's be real, this whole thing reeks of hype and speculation.

The Real Question: Does Anyone Actually Care?

Here's what I want to know: are actual users building anything real on these subnets? Are they solving real-world problems? Or is it just a playground for crypto bros to gamble on the next shiny object? And more importantly, does any of this actually matter to anyone outside of the crypto echo chamber? I mean, I'm writing about it, but honestly...

This is Just a House of Cards

Look, I'm not saying Bittensor is a scam. Maybe it'll change the world. Maybe it'll be the next big thing. But I've seen this movie too many times. The hype, the promises, the "revolutionary" technology... it all sounds so familiar. And usually, it ends with a crash. So, forgive me if I'm not exactly holding my breath.