0G's capital and better-distributed token supply put it in a good position to gain attention this cycle. After speaking with its founders, the project looks adequately funded, and the token's distribution has improved after a long decline; it is a pretty okay AI coin, not the best one. x.com 

TAO's narrative took a big hit after Covenant appeared to completely rug existing holders of its subnet tokens Templar, Grail and Basilica, prompting an exit from both the subnets and TAO. It is like the largest app on a layer-1 rage-quitting the chain and taking all value from its own token. Coming back depends on seeing network-level updates that prevent a repeat, which are in the works. x.com  x.com  x.com  x.com 

GPU DePIN's inference opportunity is far more interesting, but its moat now depends on reliable routing and repeat paying customers rather than incentivized GPU supply. Render Network logged $539K in paid jobs and $512K in RENDER burns over 30 days, though not all jobs were inference and emissions continue. Bittensor subnet rewards do not prove customer demand either. Real utilization, retention, healthy margins and revenue without emissions will show who can sustain the business. x.com  x.com  … Show more

Bittensor's TAO suffers because the network lets subnets like SN95 extract millions in emissions without delivering. SN95 has made promises for over a year, shown no functional product or code, keeps pushing deadlines, barely communicates and raised money on the side. Its owner not selling, as @0xSunRun notes, doesn't change that: emission-inflated prices let others sell into the pool, and if the subnet is deregistered, the TAO is paid out and leaves the chain. x.com  x.com  x.com  x.com  x.com  … Show more

Microsoft's Azure and Amazon's AWS are among the likely winners as enterprises shift to cheap open-source models. Moving a $25 Opus workload to $4.40 GLM frees $20.60; enterprises likely keep about half and spend the rest on roughly 3.34 times more usage, minus a cut to hyperscalers for enterprise services. Token prices have fallen about 50%. Open source should lift paid infrastructure revenue over 12 months, more slowly than usage, while frontier-lab margins and new-capex returns suffer. x.com  … Show more

Bittensor's subnet economy could lift TAO via Alpha-token demand, but a major rally needs paying AI customers, not emission farming. About 64.2% of circulating TAO was staked as of Oct 7. At ~$3.24B, TAO is no cheap microcap. Still constructive long term, but stronger conviction needs verifiable revenue, demand above issuance, competitive AI products and institutional access. AI sentiment and crypto liquidity must also recover; Grayscale trust filings alone do not guarantee inflows. x.com 

Inference demand, not model release cadence, drives AI infrastructure, so dips in inference suppliers are unwarranted. Anthropic's CEO, with OpenAI's Sam Altman agreeing, committed only to third-party evaluations before releases, saying pacing does not mean halting training. Even if releases slowed, inference demand keeps climbing and older models need more infrastructure, benefiting Nvidia's GPUs, Micron's memory, Astera Labs' GPU connectivity, Marvell and Broadcom. x.com  x.com  x.com 

Bitcoin and decentralized compute networks such as Render stand to benefit if compute becomes a tradable commodity like oil. Cheaper compute means easier mining, higher hash rate and stronger Bitcoin security, while DePIN networks turn idle GPUs into a global marketplace with blockchain handling payments and coordination. GPU hours could be tokenized with futures and on-chain trading. BlackRock CEO Larry Fink says compute futures will be a new asset class. x.com  x.com  x.com  x.com  x.com 

Bittensor's promise of decentralized AI is starting to show real revenue, which is the part that matters for TAO. Twenty-four Bittensor subnets are already making real revenue rather than just burning emissions, and that open funding for research came from crypto degens, not academia. x.com  x.com  x.com 

Nvidia B300 GPUs look like a better investment than bitcoin. B300s can pay back in 8-10 months, or about 13 months on a one-year lease, and hold their value as inference demand rises. Bitcoin has underperformed for years: institutions have already entered, but no fresh capital is flowing in, and money flows where it multiplies most. If AI slows, the whole market would crash and take bitcoin down with it. x.com  x.com  x.com  x.com  x.com  x.com  x.com