Hosted by James Altucher and Joseph Jacks.
In this episode, James and JJ discuss Bittensor's unbeatable scale against centralized companies, parallels to the internet/crypto revolutions, unregulatable open source AI, demand math for TAO with subnet growth (e.g., 10-15M additional staked TAO for 1,000 subnets), the upcoming halving event in December 2025, alpha token economics/volatility, regulation debates (e.g., Eric Schmidt on open source AI), dual-use tech risks, and rational optimism for AI's future. They also did a small Q&A at the end of the episode.
Key Timestamps & Topics:
- 00:00:00 - Intro: Bittensor's humanity-scale advantage; internet/crypto parallels; unregulatable open source creativity.
- 00:01:00 - TAO Demand Math: Staking/users/validators for 1,000+ subnets; 10-15M additional TAO needed (vs. 9.5M circulating).
- 00:02:00 - Halving Event: December 2025 cuts emission from 7,200 to 3,600 TAO/day; scarcity impact.
- 00:03:00 - Alpha Tokens: 21M supply cap; faster emission (1.5-2x TAO); volatility from thin liquidity (e.g., 2M circulating alpha).
- 00:06:00 - Pool Dynamics: Price sensitivity in early stages; stability in 6-9 months as supply reaches 10-20%.
- 00:08:00 - Market Factors: Organic exchange listings; daily volume $100-200M; staking for emission ranking.
- 01:04:00 - Regulating Open Source AI: Eric Schmidt's views critiqued; impossible to regulate human curiosity/creativity.
- 01:05:00 - Dual-Use Tech: AI vs. nuclear weapons; kitchen knife analogy; good intentions vs. bad outcomes (e.g., student loans).
- 01:09:00 - Rational Optimism: History shows good outpaces bad (e.g., internet, Bitcoin); societies at all-time highs despite fears.
- 01:12:00 - Wrap-Up: Relax if not understanding everything; ride the wave of Bittensor's evolution.
Key Takeaways:
- Bittensor scales infinitely like the internet/crypto, outcompeting centralized solutions via permissionless, humanity-wide incentives—no company can match global creativity.
- TAO demand surges with subnet growth (post-128 cap removal): Back-of-envelope math shows 10-15M additional staked TAO for 1,000 subnets, vs. current 9.5M circulation; halving adds scarcity.
- Alpha tokens are volatile early due to thin liquidity (2M circulating vs. 21M cap), but stabilize as emission progresses—faster halving (every 2-3 years) accelerates price discovery.
- Open source AI is unregulatable, as it equates to stifling human curiosity; dual-use fears (e.g., biological weapons) are flawed—history proves innovation's net good outweighs risks.
- Optimism prevails: Regulations often backfire (e.g., tuition inflation from student loans); AI's progress mirrors societal advances, with good far outpacing bad in unregulated environments.
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