SUMMARY: This discussion between Siam Kidd and Mark Creaser explored whether Bittensor’s $TAO should be viewed as a typical crypto asset or as something closer to equity in real, revenue-generating networks. The argument was that subnet ‘$ALPHA’ tokens are largely insulated from traditional crypto market cycles because their value is driven by usage, liquidity, and real demand for services.
As subnets began generating revenue, they can offset sell pressure through buybacks, creating a model where token prices are structurally supported even during downturns. While $TAO itself may fluctuate with broader risk markets, $ALPHA could remain resilient due to their business-like economics.
More broadly, the conversation framed AI and decentralized networks as deeply deflationary forces that will disrupt incumbents, reshape markets, and redefine how value is created and priced.
By: Siam Kidd
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