Exactly. And the broken part is: the protocol keeps minting alpha into these zero-emission subnets. Owner/validator/miner rewards don't stop. SN64 still pays out 99 alpha per tempo - that's pure sell pressure with no new TAO coming in to absorb it. The incentive is to exit before the pool drains, not to build a better product.
Bittensor's two largest subnet pools earn zero daily emissions. A subnet 111x smaller earns $47K/day in $TAO.
The top pools by staked capital - the projects with the most TAO committed by stakers:
> SN64 Chutes (Rayon Labs): $64.6M pool. Largest AI compute subnet by pool capital. Emissions: $0/day
> SN4 Targon (Manifold Labs): $37.0M pool. Intel TDX confidential compute. Emissions: $0/day
Zero protocol rewards.
Now look at who actually gets paid. Smaller subnets - some with 1% of Chutes' pool - collect $40-$60K/day each from protocol emissions. SN97 FlameWire, with a $582K pool, earns ~$47K/day. That's 8% of its own pool size minted fresh every day. Chutes, with 111x more TAO locked, earns zero.
These big pools aren't in the Covenant death spiral yet. SN3 Templar drains 710 TAO/day and its pool halves in 55 days. SN64 Chutes drains 135/day with a pool half-life of ~2 years. SN4 Targon drains only 32/day.
But runway isn't the same as safety. Three problems compound:
1/ TaoFlow's EMA has a 30-day half-life. Once flow turns negative, it takes weeks of sustained inflows to get emission back. SN64's flow went from −107 to −135 in four hours today. Accelerating, not recovering.
2/ Alpha dilution continues with zero TAO emission. Every block, owner/validator/miner roles still mint new alpha - 99 tokens per tempo on SN64 alone. Those rewards get sold through the same pool, draining TAO. Holding alpha through this is pure dilution.
3/ Rational exit is about marginal profit, not runway. Covenant crossed that line. Chutes and Targon haven't - yet.
Under TaoFlow, "too big to fail" is the trap. The bigger your pool, the more alpha the protocol keeps minting out of it, and the more you have to extract before the pool empties. The biggest subnets have the most runway - and the most incentive to cash out early.
the run back for $TAO is going to be hated.
Shitfleuncers who promote their dead ai coins will try to recycle the AI generated fud piece & try to act like your dumb. While not provide a single intelligent argument! Not understanding every achievement on $TAO is the network.
Jimmy Kimmel tells critics to stop telling him his job is to be funny.
Says his job is “whatever I DECIDE my job is.”
Suggests that if his comedy suffers because he wants to talk about Trump, then so be it.
“I just can’t imagine on those nights talking about anything other than what we are talking about.”
“I think it would be embarrassing if we didn’t talk about this stuff. It would be shameful.”
“I love telling jokes. I love being funny. I love when the audience laughs… But well-rounded human beings don’t behave that way.”
“And to say that, ‘Your job is this,’ I bristle at that.”
“Because first of all, don’t tell me what my job is. I don’t tell you what your job is.”
“My job is whatever I decide my job is or whatever my employer allows me to do. That’s what my job is.”
BREAKING:
Bitcoin developers have proposed BIP-361 to freeze early Bitcoin addresses that have quantum vulnerabilities.
This includes Satoshi wallets and other OG dormant wallets from the 2010-11 era.
It's a big step, as these wallets hold over 4M BTC and are at high risk from future quantum computing attacks.
#Biττensor >> ∆ τ << #τₐcc
> $TAO <
Subnet 66: Ninja
2026 is the year of acceleration for the network.
While the crowd keeps cultivating FUD, the important players are cooking. And when the chef himself says “we are cooking guys”, you should probably pay attention.
I believe the agentic subnets are going to explode.
While we wait for liquidity to grow, SN15, SN97, and SN100 are already on the radar. But when it comes to SN66, everything looks aligned for an exceptional journey.
Many still haven’t understood the opportunity that is taking shape day after day. Too many forget to look at the data.
Subnet 66 means:
• 19% of alpha in circulation
• 14.45K TAO in the pool
• 16.04% Root Prop
• 0% Incentive Burn
Const is the conductor, while his agents execute 24/7.
The signals are strong and clear.
You’ve been warned.
Cypherpunk Jameson Lopp and other Bitcoin developers propose BIP-361 to freeze quantum vulnerable wallets.
This could lock dormant BTC like Satoshi Nakamoto’s 1.1M coins, now worth $74B, before quantum computers can steal them.
Bittensor Is Heating Up, Ridges Goes Silent, and Chutes Breaks Through
In this episode, I break down the latest TAO market action and what is happening across the Bittensor subnet ecosystem right now.
We get into Const’s comments on locked stake, conviction, and how he views Sam as a person, then shift into why @Jason Calacanis has become one of the most important outside voices helping push the Bittensor subnet conversation forward.
I also talk about the growing frustration around @ridges_ai. The communication has been lacking, people are starting to ask questions, and the silence around @hobbleabbas is getting harder to ignore. On top of that, Chutes is starting to kick the door down in a major way.
Then I close it out with a full look at my current subnet portfolio.
Join the Telegram at ShizzyUnchained dot com
CHAPTERS
00:00:00 - Shizzy’s Monologue
00:01:53 - Intro Song
00:02:13 - TAO Market Update
00:03:22 - Subnet Market Update
00:06:43 - Locked stake and conviction, Const speaks on Sam as a person
00:08:50 - Jason Calacanis has been a strong voice in helping push Bittensor subnets forward
00:10:05 - Ridges communication has been disappointing. Is Shak gone? Why are we not hearing what is happening?
00:13:05 - Chutes kicks the door down
00:14:40 - Shizzy’s Portfolio
00:15:30 - Join the Telegram at ShizzyUnchained dot com
Polkadot and Bittensor built the same trap without realizing it.
Polkadot: compete for parachain slots by staking DOT. 130M DOT committed at peak ($5-7B). 46 auctions. First five winners raised $4B+ in crowdloans. Today: Acala down 99.97%. Moonbeam down 99.9%. Astar abandoned Polkadot for Ethereum. Two others dead. The model was scrapped in 2023.
Bittensor: compete for subnet slots by committing TAO. 128 slots competing for daily TAO emissions. Estimates suggest 15-25% have genuine utility. The rest are emission farms - subnet owners running their own validators and miners, subnets billing each other, activity reported as "ecosystem growth."
Same pattern:
> Create scarce slots for sub-networks
> Hype drives slot prices to absurd levels
> Most slots fill with projects optimizing for the subsidy, not for users
> Real usage never materializes at scale
> Reform the mechanism years later (Agile Coretime / dTAO)
Bittensor's dTAO is genuinely better than Polkadot's original auction model. Market-based emission allocation, continuous Darwinian competition, lower barriers. Real improvements. Polkadot took years to figure this out with Agile Coretime. Bittensor got there faster.
But the mechanism isn't the problem. The problem is what fills the slots. Bittensor had exactly one project that got noticed outside the TAO pump/dump cycle - Covenant AI. Jensen Huang and Jack Clark both praised it. It wasn't a revenue-generating business - it still burned far more in TAO emissions than it could ever earn - but it was the one thing that proved decentralized training could produce something real.
Last week Covenant exited, drained 50,000 TAO from three subnets, and called the network "decentralization theater." The one team that built something visible left. The emission farms stayed.
Polkadot proved that better auctions don't save parachains when most slots exist to capture subsidies rather than serve users. Bittensor is proving the same thing in real time.
The question was always: will real products show up before the hype runs out? Polkadot's answer came in. Bittensor's just arrived.
Ridges isn’t going anywhere.
Ridges is bittensor, bittensor is Ridges.
We’re aligned. We're here to build and to keep raising the bar.
More updates soon.
Jackson, the son of Shane Warne speaks out about the cricket legend’s untimely death.
He blames
The government and believes his death was connected to the Covid vaccine !!
Also confirming Shane had taken a booster prior to that fateful trip to Thailand.
Legacy media did their best to cover up this story but now finally the truth is breaking free.
Full interview : @2worldsPodcast
Dads with young kids
Is it normal to just feel tired and burnt out all the time?
It’s like you don’t even really get the weekend to recover because it’s all just kid stuff the moment you wake up
Arguably the only personal time you have is when they nap (and you’re already dead tired by that time) or the hour after they go to bed but before you pass out
Just trying to figure out if I’m doing something wrong
Last week, we flushed the tourists of $TAO ecosystem. Sadly, many couldn’t get residency status. Sam Dare renounced his #Bittensor citizenship moving $10m wealth to Nigeria hurting many families of Bittensor.
Tighter immigration rules for Bittensor are in discussions by Const after this capital flight (a rug to be more accurate).