2024

Bittensor

Influencer

<div class="finbold">
 <p class="paragraph">The well-known crypto influencer, Eric Wall, has raised thoughtful criticisms over the new hyped artificial intelligence (AI) cryptocurrency, Bittensor (TAO). Its community, however, surged in disapproval.</p>
 <p class="paragraph">On March 29, Eric Wall made a long post on X (formerly Twitter) explaining how Bittensor’s AI system works. The influencer mentioned TAO’s “spectacular uselessness” through the different subnets and their mining mechanisms that reward miners with the token.</p>
 <p class="paragraph">Using the ‘Subnet 1’ for text prompts as an example, Wall highlights a “redundant” work. In his explanation, all miners will run the “exact same task,” and will validate each other outputs according to their similarities.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Solana price prediction as mysterious whale moves $332 million worth of SOL <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    3 best Cardano tokens to invest in 2024 <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Opportunity? Bitcoin's next 'immediate target' is a fresh all-time high <span class="self-center text-xs text-slate-500">4 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Bitcoin Cash’s Easter comeback amid impressive price surge <span class="self-center text-xs text-slate-500">5 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">Therefore, the network excludes all outliers from the reward, while paying everyone with a similar answer. This, in Eric’s opinion, creates incentives to miners simply copying the first broadcasted output, to increase the mining profitability.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">The uselessness of $TAO is truly spectacular<br><br>$10 billion marketcap for an "AI coin"<br><br>Go check it out—what does it actually do?<br><br>It runs a bunch of different subnets. Okay? What are these subnets? Check out subnet #1.<br><br>Okay, so text prompting. Cool. That's easy enough to… pic.twitter.com/MRUly6yjEl</p>— Eric Wall | OP_ (@ercwl) March 29, 2024
   </blockquote>
  </div>
 </figure>
 <h2 class="wp-block-heading" id="h-common-users-still-can-t-interact-with-bittensor-s-crypto-ai">Common users still can’t interact with Bittensor’s crypto AI</h2>
 <p class="paragraph">Additionally, the post brings to light the issue that common users still can not interact with Bittensor’s Subnet 1. In particular, only people running a node can prompt and use the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> AI system.</p>
 <p class="paragraph">On that note, Eric Wall slams that this system is simply a way for miners to feed each other with random prompts, that they give the same responses while farming the issued TAO tokens as rewards.</p>
 <p class="paragraph">However, for this to be a profitable endeavor, the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency market must be willing to pay a high price for TAO. In this context, Wall continues his criticism mentioning what looks like an overbought $10 billion market cap “useless” asset.</p>
 <p class="paragraph">According to the post, this looks like a non-sustainable long-term economic model, which Eric wants to see priced at $0.00.</p>
 <h2 class="wp-block-heading" id="h-tao-community-fights-back">TAO community fights back</h2>
 <p class="paragraph">Such harsh criticisms have fueled a determined community to unite and defend the AI <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> project they are invested in. Among the supporters, Dr. Martin Hiesboeck slammed Eric’s post as “one of the most misinformed, ignorant post about TAO ever written,” calling it “hilariously dumb.”</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">Enjoy one of the most misinformed, ignorant post about $TAO ever written this “critique” is hilariously dumb. https://t.co/q3kgFM9Acb</p>— Dr Martin Hiesboeck (@MHiesboeck) March 30, 2024
   </blockquote>
  </div>
 </figure>
 <p class="paragraph">In the original post, another community member linked a front end for common users to interact with Bittensor. Nevertheless, Eric explained that the app does not integrate Subnet 1.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“You fundamentally do not understand what you’re looking at. This is just a centralized LLM.”</p> <cite>– Eric Wall</cite>
 </blockquote>
 <figure class="wp-block-image size-full is-resized"><img decoding="async" width="922" height="440" src="https://cdn.thebittimes.com/images/2024/03/31/10bd298bd9ecd1d2c087a5e75ef55b45.webp" alt class="wp-image-165094" style="width: 100%;height:auto" srcset="https://cdn.thebittimes.com/images/2024/03/31/10bd298bd9ecd1d2c087a5e75ef55b45.webp 922w, https://cdn.thebittimes.com/images/2024/03/31/10bd298bd9ecd1d2c087a5e75ef55b45.webp 300w, https://cdn.thebittimes.com/images/2024/03/31/10bd298bd9ecd1d2c087a5e75ef55b45.webp 768w" sizes="(max-width: 922px) 100vw, 922px">
  <figcaption class="wp-element-caption">
   Discussion among Layer1Hunter and Eric Wall. Source: X
  </figcaption>
 </figure>
 <p class="paragraph">As the polemic develops, investors of this trending <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> AI can access a different perspective and make their conclusions.</p>
 <p class="paragraph">All in all, learning how to filter the information available is fundamental to thriving in the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency landscape. Investors must be able to meet different perspectives and challenge their biases while researching trending projects like TAO.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/influencer-declares-war-on-ai-crypto-community-fights-back-tbt84000.html">https://thebittimes.com/influencer-declares-war-on-ai-crypto-community-fights-back-tbt84000.html</a></p>

Influencer declares war on AI crypto; Community fights back

목차

TheBitTimes

2024년 3월 30일에 게재된 다른 기사

Whales On The Move: Transfers Of Over 264 Million Dogecoin On Robinhood Spark Market Buzz

OpenAI Launches Voice Engine ‘Now Clone Voice in 15 Sec’

SHIB Netflow Spike: Negative 1146% Impact

AI-Related Cryptocurrencies Experience Notable Price Movements in March

The Advantages of XRP Ledger

Is 100X Possible in Kelexo Presale: LTC Holders Diversify & BTC Nears ATH Again

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!