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Greg Schvey
@GSchvey
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- Tech, markets, history, occasional MMA - CEO @Axoni, sold @TradeBlock - Life is too short for lazy workouts
Joined May 2022
This means bittensor dtao alpha tokens are meme coins driven by speculation, with inverted supply/demand dynamics It's befuddling; the network is generating real value for end users tapping global compute, but there seems to be an aversion to directly tying that to token value
Further to this point, there’s no fundamental demand driver for alpha tokens with bittensor dtao They’re not required to use a subnet’s compute. Why hold them other than speculation? The most compute intensive SNs have strong fundamental selling and no fundamental bid
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@TheDemocrats @AyannaPressley Please keep posting things like this. Really, we couldn't be happier about these brilliant takes on public policy.
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Further to this point, there’s no fundamental demand driver for alpha tokens with bittensor dtao They’re not required to use a subnet’s compute. Why hold them other than speculation? The most compute intensive SNs have strong fundamental selling and no fundamental bid
dTao alpha token price is driven by net demand. Miners who have power intensive compute will naturally be forced sellers to cover high power costs. This would disfavor alpha token value in subnets performing high complexity / high value tasks. Seems inverted…
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@xanderatallah @manifoldlabs "Free" meaning paid for by inflation (emissions) It's impressive that this is possible for now, but tough not to question the longevity / long-term reliability of a system designed this way
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@Cernovich Particularly perverse given the COVID shots themselves are proven to create risk of heart issues in children
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Don’t make me tap the sign
Bitcoin selling off after higher-than-expected CPI print shows there is still opportunity left in the asset. The market is reacting to expected Fed actions (i.e. lower chance of stimulating rate cuts in the near term) and ignoring the bigger trade: the Fed is not in control.
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@dgsommersmkts Amazing how, once into power and responsible for short term outcomes, people abandon these views Greenspan used OMO to buy UST with newly created money after the 87 crash Did the same thing after dot com crash. M2 increased 8% in 2001 alone Always the same story
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@dgsommersmkts Oh I agree with you. It's reprehensible that governments print money for short-sighted goals at the cost of their population's wealth and, potentially, their very existence - and it most affects those already struggling Unfortunately, history has shown us that's human nature
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@hanslorei @krassenstein @NexxMeta @realDonaldTrump Genuinely curious why you say they look bad and hurt your eyes? I have my entire place outfitted with Philips Hue LEDs that I keep set to the perfectly comfortable warmth and dimness. Couldn't be happier with them
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