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?
Personally, I think the coin is overhyped. It only went up because of the AI hype. But with the bear market settling in, I doubt it's going to reach a new ATH. At least, in the short-term. Honestly, I don't see what all of the buzz is about. Bittensor promises to combine AI with the power of Blockchain tech. But is it truly viable? Because running AI models on a P2P system, comes with bottlenecks in performance (due to Blockchain's scaling issues).
TAO is just an altcoin like the rest, so it could fail in the long run if investors move on to the next big thing. I would "stick" with cryptos with smart contract capabilities. At least, that's where the money is. We'll see what happens...
