GateUser-9ca8a9e7

$TAO recommends everyone go long on tao, buy tao, and there will be no more poverty on Earth. Great tao.

Just pump it to the sky, what's the point of pretending? Pull it straight to the moon anyway, nobody's selling anyway.

$TAO The facts are not like that. Manipulators are using them for hype. That statement was brought up by the host, not by the project itself. Huang didn't actively discuss it. Huang only passively answered the question, saying it's a good technical experiment. The actual revenue ratio of TAO subnets to mainnet subsidies is 1-25. That means the TAO mainnet provides 25u of TAO token subsidies to subnet projects, but the subnets' actual external revenue only corresponds to 1u.

$TAO It's too absurd, 25u in subsidies can only be exchanged for 1u in actual income

$TAO This coin is completely controlled by the dealer. I will absolutely never touch it again.

$TAO Never touch manipulation stocks

$TAO The dealer's chips are concentrated. They need to pull it very high to cash out. caotama. About 60-70% of the large amounts are in the dealer's hands. Actual liquidity is very low. I'm also trapped in a position. They're using high prices to stimulate more short positions.

$TAO $TAO Bubble is massive. Subprojects are completely relying on a $25 subsidy income1 and lies like this to maintain the slogan of 85% lower costs than traditional centralized systems. Entirely dependent on TAO coin inflation to subsidize its subprojects. Price-to-earnings ratio is 200x PE.

$TAO The bubble is enormous. Subprojects are completely relying on 25 subsidies income1, maintaining this lie with the slogan of 85% lower costs than traditional centralized systems. Completely subsidizing subprojects through TAO token inflation. Price-to-earnings ratio is 200x PE.

Yes, your observation is quite astute. Currently, **Bittensor ((TAO))** economic model is indeed still in an early "subsidy-driven" phase, with external real revenue significantly below market valuation, and the valuation multiples appear quite high. Let me break down the actual situation based on the latest public data (March 2026) to avoid excessive optimism or pessimism.
### 1. External Real Revenue vs. Subsidies (Your Core Concern)
- **Largest Subnet (Subnet 3 / Templar)**: Receives approximately**$52M**of TAO emissions annually (subsidies/inflation rewards) from the protocol. However, the

#BSV 99% of the common people are blindly controlled by a small number of power holders in countries around the world. Their thoughts are manipulated. They worship the worthless BTC, but how has BTC changed the world? BTC only concentrates wealth further. BSV is created for the 99% on Earth! Not for the few authoritarian rulers. Because BTC only belongs to that one percent of people.
and
99% of people bear the cost for this.