Tao, the native token of the Bittensor blockchain focused on AI, caused a tension on X between the founder of the digital currency group Barry Silbert and loyal Bitcoin (BTC), the original and the largest cryptocurrency.
The author and supporter of Bitcoin, Parker Lewis, called Silbert and Raoul Pal, the presenter of the Podcast Journey Man, a group of “affinity crooks” for the promotion of Tao in a recent episode.
Silbert replied by writing: “Call $ Tao A scam is such a lazy attack. Do better”
Grayscale Investments, one of the subsidiaries of Digital Currency Group, manages a Bittensor trust which currently has around 8 million dollars in management. It also has a Bitcoin Exchange Traded (GBTC) Spot Fund with $ 16.6 billion under management and an ETF Bitcoin Mini Trust.
What is Tao?
Silbert sparked the anger of the bitcoiners by comparing Bittensor with the Bitcoin blockchain.
“It’s like Bitcoin, there was a white paper that turned into a code and then launched and it has the same symbolic economy,” he said in the podcast.
Although there are Similarities with BTC insofar as TAO’s offer is capped at 21 million tokens and it involves reward reward events, there are also striking differences in terms of ethics and the use of the project.
Bittensor is a decentralized network that merges Blockchain technology with automatic learning. It was designed to become an AI market between peers, where users can share and monetize AI models.
Bitcoin has been generated from the Libertarian Cypherpunk era and mainly designed as a peer payment method which avoided the currency issued by the government. In recent years, a reserve of value has also emerged, becoming a pillar on business balance sheets to mitigate the increase in inflation.
The Tao token was released two years ago and experienced extreme volatility, exceeding more than $ 700 twice in 2024 before spending about $ 200 in the twice. He recently exchanged about $ 339.
Bitcoin has increased from $ 22,000 from the start of 2023 to $ 109,000 in January. Although he had his ups and downs, they are not as marked as the dives generally seen on the Altcoin market. Bitcoin currently costs around $ 90,000 with a market capitalization of around 1.8 dollars. TAO has a market capitalization of around 2.98 billion dollars, according to CoinmarketCap data.
