What You Need to Know:
- The ever-controversial Barry Silbert, founder of Digital Currency Group, compared Bittensor’s TAO to Bitcoin. And guess what? Bitcoiners did *not* take it well. 😬
- TAO, much like BTC, has a fixed supply of 21 million tokens and enjoys the thrill of block reward halvings.
- But, oh boy, TAO is an entirely different beast – it’s all about AI and machine learning. And let’s not forget, TAO’s price volatility would make any rollercoaster look tame. 🎢
TAO, the token born from Bittensor, an AI-driven blockchain, is stirring up quite a ruckus on X, with Barry Silbert and the die-hard Bitcoin loyalists clashing in an epic face-off. Silbert, of course, is never one to shy away from drama.
Bitcoin proponent Parker Lewis didn’t mince words, calling Silbert and Raoul Pal – the host of *The Journey Man* podcast – a “group of affinity scammers” for singing TAO’s praises. Yikes. 🧐
Silbert’s retort? “Calling $TAO a scam is such a lazy attack. Do better.” Ouch, that’s gonna sting. 🔥
By the way, Grayscale Investments, a subsidiary of Silbert’s Digital Currency Group, is backing Bittensor Trust with about $8 million in assets. Oh, and they also have the spot bitcoin ETF with a massive $16.6 billion under management. That’s some serious crypto dough right there. 💰
So, What Exactly is TAO?
It all started when Silbert stirred the pot by comparing Bittensor to Bitcoin. Because, of course, nothing says “calm down” like suggesting that these two are somehow twins. 🤷♂️
“It’s just like bitcoin,” he mused on a podcast. “There was a white paper, then it turned into code, and now it’s here with the same token economics.” Sounds familiar, right? Sure, if you squint real hard. 🤓
Okay, sure, TAO’s supply is capped at 21 million tokens, and yeah, it goes through block reward halvings. But that’s where the similarities stop. *Big* differences ahead, folks.
Bittensor isn’t just a token; it’s a decentralized network that merges blockchain with machine learning. The dream? A peer-to-peer AI marketplace where you can share and make money off your fancy AI models. No biggie. 🤖
Meanwhile, Bitcoin was born out of a desperate need to avoid government control, emerging from the Libertarian cypherpunk crowd. Its goal was simple: be the ultimate peer-to-peer payment method. Fast forward, and it’s now also a store of value. Who would’ve thought, right? 😏
The TAO token came into existence two years ago, and its price history reads like a soap opera. In 2024, it soared above $700 twice, only to crash back down to around $200 each time. Right now, it’s chilling at $339. Will it rise again? Who knows… 🤔
Bitcoin, however, has been on a much steadier path. From $22,000 in early 2023, it hit an impressive $109,000 in January. Not quite as volatile, but still, it’s had its highs and lows. Currently, it’s hovering around $90,000 with a market cap around $1.8 trillion. In comparison, TAO’s market cap sits at about $2.98 billion. Quite the contrast, huh? 💸
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2025-04-22 19:14