Bittensor (Tao) - Number 1 AI pick

[JamesDaniel90]

Looking at the AI category on Coinmarketcap Bittensor (TAO) is currently number 1 with a $1.6B market cap.

I have heard many say this can be the number 1 for many years and potentially hit $50b market cap by 2029.

I don't know too much about it, but thinking if we are in a bear market now for many months then I will start buying if it falls down to $1b market cap to then hopefully see pretty good returns next few years.

Anyone invested? Do we think it can hit $50b next few years or is it overhyped?

[bangjoe]

You should analyze from the fundamentals first not in terms of current capitalization because it could be due to hype, we must look at what they offer to their community and to users of their services if you have a reason why TAO will get a large market capitalization in 2029 then you don't need to ask anymore “should I buy?”, with the development of AI and the increasing adoption of AI we must have complete data about the long-term projects and how the AI industry will increase in the future. ", with the development of AI and the increasing adoption of AI we must have complete data about the long-term project and how the AI industry will increase in the future, if you find that the project you have is unlikely to survive in the long run because the model is easy to imitate or is already common, why should you buy market goods right?

[JamesDaniel90]

This flew up 40% in just a few days after i posted, I should have just bought some but i felt at the time we were going lower.

Its a hard one to call, some are saying we only have another month or so of this down and sideways action left before we bounce and start going up again but those who believe in the 4 year cycle still are saying we will have another 6-8 months before we find a bottom.

It is now a $2b market cap again, i will not buy at this level and just hope it falls next few weeks so i can get a better entry.

[passwordnow]

Looking at the AI category on Coinmarketcap Bittensor (TAO) is currently number 1 with a $1.6B market cap.

I have heard many say this can be the number 1 for many years and potentially hit $50b market cap by 2029.

I don't know too much about it, but thinking if we are in a bear market now for many months then I will start buying if it falls down to $1b market cap to then hopefully see pretty good returns next few years.

Anyone invested? Do we think it can hit $50b next few years or is it overhyped?

As you've said, you don't know much about it and what you've heard were just speculation of what's coming in it. I have a thought about AI coins that they're probably overhyped now. While the technology of AI looks good but it's overwhelmed and overcrowded in terms of projects that have tokens in AI. From the $700 top that it has got for two times it reached that on 2024, while last year the top was almost $500. The $50B market cap is overhyped IMO.

[asriloni]

This flew up 40% in just a few days after i posted, I should have just bought some but i felt at the time we were going lower.

Its a hard one to call, some are saying we only have another month or so of this down and sideways action left before we bounce and start going up again but those who believe in the 4 year cycle still are saying we will have another 6-8 months before we find a bottom.

It is now a $2b market cap again, i will not buy at this level and just hope it falls next few weeks so i can get a better entry.

Bittensor is -25% from the peak price after its 40% last days. So just be patience waiting for it goes even lower. It may be going back to the 162 - 165 range to touch the demand supply. It's good to see you hodl yourself instead of buying when it was pumping.

However, you can always watch its chart. If there will be a parabolic chart to be formed. It's likely it will be pumping much higher. Yet, always be careful caused by market is not that good.

It can also get affected by BTC dump that may happen anytime. Entering at lower price guarantee us to suffer lesser impermanent loss if it goes down even further. So patience is key.

[shinratensei_]

50B in 2029 is ridiculously optimistic valuation are you sure? do you know Bittensor is not zero emmision coin and annual inflation is ~25.6% according to jellyc data?.

HYPE with :
1. good market adoption
2. buy back
3. good revenue
4. huge utility

is nowhere near that only valued at $7B right now unfortunately, let alone a decentralized AI infrastructure that nobody really uses.

[JamesDaniel90]

50B in 2029 is ridiculously optimistic valuation are you sure? do you know Bittensor is not zero emmision coin and annual inflation is ~25.6% according to jellyc data?.

HYPE with :
1. good market adoption
2. buy back
3. good revenue
4. huge utility

is nowhere near that only valued at $7B right now unfortunately, let alone a decentralized AI infrastructure that nobody really uses.

Dogecoin, a meme coin, hit $80b market cap so this hitting $50b by 2029 is definitely possible.

[dansus021]

Anyone invested? Do we think it can hit $50b next few years or is it overhyped?

50b next is definetly overhyped, all i know that bittensor spike up because the project has narrative of AI related, I remember that TAO price is soaring high even tho bitcoin is down. The Math To reach a $50B market cap with the expected supply in 2029, the price would need to be around $3,000+ Which I dont think is gonna be clicked in.

To be honest the market of AI is slowing down people are scared about AI bubble burst in real life and geopolitical issue make it worse.

[JamesDaniel90]

Anyone invested? Do we think it can hit $50b next few years or is it overhyped?

50b next is definetly overhyped, all i know that bittensor spike up because the project has narrative of AI related, I remember that TAO price is soaring high even tho bitcoin is down. The Math To reach a $50B market cap with the expected supply in 2029, the price would need to be around $3,000+ Which I dont think is gonna be clicked in.

To be honest the market of AI is slowing down people are scared about AI bubble burst in real life and geopolitical issue make it worse.

Lets see anything is possible in crypto during the good times.

I have seen altcoins pump 30x in less than a month.

I still havent bought any of this, want it to go lower its currently $2.2b market cap, i will buy if it goes down to $1.25b.

[dansus021]

~SNIP~

Lets see anything is possible in crypto during the good times.

I have seen altcoins pump 30x in less than a month.

I still havent bought any of this, want it to go lower its currently $2.2b market cap, i will buy if it goes down to $1.25b.

Agreed hahah during the good times everything could possible but 50B is a big number if this happen now it could dethrown Solana by marketcap, and tbh Im still confused with their product tho.

1.2B - 2B of markecap is the base in my opinion and this bottomed based on the past data

[JamesDaniel90]

~SNIP~

Lets see anything is possible in crypto during the good times.

I have seen altcoins pump 30x in less than a month.

I still havent bought any of this, want it to go lower its currently $2.2b market cap, i will buy if it goes down to $1.25b.

Agreed hahah during the good times everything could possible but 50B is a big number if this happen now it could dethrown Solana by marketcap, and tbh Im still confused with their product tho.

1.2B - 2B of markecap is the base in my opinion and this bottomed based on the past data

Tao has pumped 100% in a month just hitting $3B market cap the other day.

Not sure if you know much about altcoins but this can definitely hit $50b market cap by 2029. It will pump very well during next bull run being the number 1 AI play.

I should have just bought when it was $1.6B market cap when I started this thread but thought it would go lower, if it falls back down below $2b then I will start buying.

[JamesDaniel90]

Damn should have just bought when i started this thread 6 weeks ago as it has pumped 150% since.

I am hoping for a pullback down below $2b market cap again to get in but not sure if it will, seems to be a lot of hype around it currently.

[zeroknowledgeproofs]

Bitcoin has been infiltrated by evil and greed. It has failed to achieve its original purpose...  Zcash and Bittensor are the next step forward. 

[JamesDaniel90]

Anyone else buying Tao?

I should have just bought when i started this thread as looks like it was the low then at $1.6b market cap.

It is currently $2.3b and went as low as $2b last week during the crash but not low enough for me.

Hoping it falls back down to $1.6b at least one more time next few months to buy some before the bear market is over and crypto starts to recover.

[jossiel]

Anyone else buying Tao?

I should have just bought when i started this thread as looks like it was the low then at $1.6b market cap.

It is currently $2.3b and went as low as $2b last week during the crash but not low enough for me.

Hoping it falls back down to $1.6b at least one more time next few months to buy some before the bear market is over and crypto starts to recover.

It's currently up when you should have bought it during that time but, it has reached its peek twice.

Your way of looking at its value is different through the market cap of it although that's just a wider way of telling its price.

While this isn't the #1 AI pick for the majority, it can be yours depending on what you actually know about it.

I'll buy this? probably not now.

[JamesDaniel90]

Anyone else buying Tao?

I should have just bought when i started this thread as looks like it was the low then at $1.6b market cap.

It is currently $2.3b and went as low as $2b last week during the crash but not low enough for me.

Hoping it falls back down to $1.6b at least one more time next few months to buy some before the bear market is over and crypto starts to recover.

It's currently up when you should have bought it during that time but, it has reached its peek twice.

Your way of looking at its value is different through the market cap of it although that's just a wider way of telling its price.

While this isn't the #1 AI pick for the majority, it can be yours depending on what you actually know about it.

I'll buy this? probably not now.

We are going lower, its too early in the summer for the bottom to be in now as summer is typically red months for crypto.

I expect Bitcoin to go below $55k at least, so Tao should go back down to around $1.6b market cap so i will buy then as feel it can easy 5x from that price, probably 10x.

[jossiel]

It's currently up when you should have bought it during that time but, it has reached its peek twice.

Your way of looking at its value is different through the market cap of it although that's just a wider way of telling its price.

While this isn't the #1 AI pick for the majority, it can be yours depending on what you actually know about it.

I'll buy this? probably not now.

We are going lower, its too early in the summer for the bottom to be in now as summer is typically red months for crypto.

I expect Bitcoin to go below $55k at least, so Tao should go back down to around $1.6b market cap so i will buy then as feel it can easy 5x from that price, probably 10x.

Good luck on that plan.

It's likely that we'll see btc moving down in the next months to come or before this year ends.

And when that happens, the alts are going to move the same direction as btc and maybe it will hit that market cap that you're waiting for tao.