A Debate on Bittensor | Crypto x AI Event
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Welcome everybody to Delphi's bit tensor panel. This was, one of the most requested panels, and I'm joined by 3 of what I believe are the top analysts, in the space on this, on this project. So Nick Hotz is a senior analyst at Tangent. Sammy is a partner at OSOS Capital, and Seth is a research analyst at Messari. And I'm Michael. I'm a researcher at Delphi. All of us are here in our personal capacities, and none of, what we're about to say represents investment advice. So let's have a good conversation, First question, I'll just throw this to the group. You know, Bitcoin was kind of founded, i
happy to kick this one off. I think it's pretty obvious that BitTensor is focusing on decentralizing AI. And everybody knows about the risks of, you know, AGI being developed by a state or one company and having control over, that entity. And so similar to what you said, just like Bitcoin was the counterweight to fiat, bit tensor, in my opinion, is the counterweight to centralized AI. And we we're obviously seeing, you know, a lot of the drama and problems that are originating within open AI. And the lack of transparency there, the fact that a lot of these AI systems or models are black boxes.
I would probably echo much of what Sammy said. You I think Sammy is probably also much deeper into the the lore and history of bit tensor than I am. So I don't know exactly what was originally intended. But I think that's what it's become at least is this all alternative platform to develop AI, typically open source AI models. And I think the other component, Sami might not have mentioned there is the continuous development of these models. So building incentive structures that hopefully produce, continuously, more performant, or better models. Yes.
Stepping back a bit. Go ahead. Sorry, Nick. I was gonna say stepping back a bit. You know, the founders of BitTensor actually have had been working on, you know, this protocol, I think, back since, like, 2016. There's, like, a tweet from Const, which basically, like I I can't remember the exact wording of it. But, like, the idea of BitTensor has been in the works for almost like 8 years. And, you know, before BitTensor became this network of networks, it originally was just like a text prompting network. And Nick, you might remember the exact date that the network went live. I think it was lik
Yeah. And, Michael, you kinda asked about what it was intended to develop. And I think if you asked, like, ConsurAlla today, they would still tell you that it's for AI development. But it's really kind of become something more than that where you've got these subnets now that really don't have very much at all to do with AI development that are that are on there. But people have just been able to with, you know, with the incentive mechanism that it creates, been able to do even more stuff outside of, AI. Yeah. You
could launch Bitcoin. You could you could you could build, like, a Bitcoin subnet, for example. You can you can really do anyt
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