Bittensor (TAO) is currently priced at $275 with a market cap of $2.6 billion, but the subsidy income ratio of its core subnet Chutes reaches 22:1 to 40:1. After removing subsidies, the cost is over 1.6 times more expensive than centralized solutions. The valuation multiple of 175-400x far exceeds industry standards, with the market trading on scarcity narratives rather than true fundamentals. This article is sourced from Pine Analytics' piece "The Bear Case for Bittensor (TAO)", edited, translated, and compiled by Blockbeats. (Context: Balancer founder announces "dissolving team, preserving protocol," DeFi hacked with TVL down to $158 million, subsequently taken over by DAO)

MicroStrategy has been aggressively accumulating Bitcoin over the past two consecutive weeks, with holdings reaching 761,068 BTC and unrealized gains of 0.21%. CEO Saylor emphasized that with the development of AI, Bitcoin as digital capital will become increasingly valuable due to its scarcity and neutrality, making it a safe asset against technological disruption.

The cryptocurrency market is currently at a crucial technical juncture for ETH. The second largest digital asset is poised for a structural change, with Ethereum testing a critical resistance zone near $2,150 in mid-March 2026. A breakthrough above that level is the main signal technical analysts ne

Quantitative analyst PlanB has proposed the Stock-to-Flow (S2F) prediction model for Bitcoin, projecting that Bitcoin will average $500,000 between 2024 and 2028. Although the current price is around $67,000, PlanB believes now is the optimal time to buy. The S2F model is based on asset scarcity, and its historical predictions have hit their targets multiple times, indicating the market has not yet overheated. However, he also acknowledges the model has blind spots and the need to monitor demand-side dynamics.

Yann LeCun's AI company AMI recently completed a seed round of funding worth approximately $1.03 billion, with a valuation of $3.5 billion. The company focuses on developing World Models to transcend the limitations of traditional large language models. Unlike LLMs that rely solely on corpora, AMI aims to build systems that understand the structure of the world and causal relationships, addressing the challenge of future data scarcity.

Quantitative analyst PlanB has made a new Bitcoin forecast, estimating that the average price from 2024 to 2028 will reach $500,000, based on its S2F model. The model calculates scarcity through asset stock and annual production, indicating that the market is currently entering a buying opportunity. PlanB emphasizes the historical accuracy of the forecast but also acknowledges the model's blind spots and the need to pay attention to market demand changes.

Quantitative analyst PlanB has made a new Bitcoin forecast, estimating that the average price from 2024 to 2028 will reach $500,000, based on its S2F model. The model calculates scarcity through asset stock and annual production, indicating that the market is currently entering a buying opportunity. PlanB emphasizes the historical accuracy of the forecast but also acknowledges the model's blind spots and the need to pay attention to market demand changes.

The cryptocurrency market is currently in a consolidation phase, with Bitcoin showing resilience around $70,000. Institutions are increasing their positions at lower levels, and the market is focused on macro risks and BTC scarcity. Ethereum and other mainstream coins also present trading opportunities, with some tokens like NEAR and TAO performing well in the AI sector, and are expected to have significant growth potential. Overall market sentiment remains cautious.

As of March 9, 2023, the total Bitcoin mined has surpassed 20 million, accounting for 95.24% of the 21 million cap. This means Bitcoin has entered a new era of "extreme scarcity," with future mining remaining extremely slow, and the last Bitcoin is expected to be mined around 2140. Miners' revenue models are undergoing a transformation, increasingly relying on transaction fees, and there are differing opinions in the market regarding its impact.

Quantitative analyst PlanB once again presents Bitcoin price outlook, predicting an average of $500,000 from 2024 to 2028 based on his S2F model. The model quantifies Bitcoin's scarcity but also faces criticism for ignoring demand-side dynamics. PlanB believes the current investment opportunity is favorable, and the market has not yet overheated.