Member Info for 21ATS

A reality check on the 100x or 500x.....

The sheer number of shares in issue here is a limiting factor.

6,327,665,972 as of today.

At todays SP £0.0012 the mcap is just under £7.6m

At 1p the mcap would be £63.27m

An SP of £0.158 would make this a £1 billion company based on mcap.

I'm looking forward to seeing how this develops. A lot of potential here.

A few nice trades trickling through today also.

That needs to be articulated in a manner that the market understands and can quantify.

Even better, it needs to be demonstrated in value, cold hard income.

When that occurs, the SP will hopefully reflect the potential here. Until then I can't see a case for an increase in SP.

There may be blips with director buys of course, but there needs to be some substance or formal roadmap laid out clearly to make a material difference.

Hopefully that unfolds this month.

Think the difference you are missing is by buying some TAO directly, you will not gain the TAO emissions compounding from our mining/validating operations within the network and with the deals with subnet.

This can make a massive difference over a short period of time. In November we earned 114 TAO per day. It might have risen, it might have fallen but we are earning significant TAO per day.

You wouldn't get that by buying TAO directly.

In perspective 114 TAO per day was £25,000 per day!

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I understand the outputs very clearly, what I don't understand is how that benefits ASTR if it's made very clear that £25,000 per day is not going to leave the Bittensor ecosystem but simply be eternally reinvested.

As VernetLes states. The BOD needs to make the case for investing in ASTR as opposed to TAO itself.

What/where is the revenue? What is the long term goal? What is the exit strategy? Is there an exit strategy?

I'm absoultely fine with a 1,2 or 5 year plan as long as I understand there is an exit strategy with an eye on shareholder value.

Why are you holding.....FOMO?

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A very reasonable question, and one I'm asking myself objectively.

Like everyone else here, I didn't invest in a 100% Bittensor company, even though I'm a recent buyer. So before I make a knee jerk reaction and sell I'm waiting for all the information to present itself.

As others have alluded, we're still in a closed period, so the guys can't be completely transparent. We're still not in possession of all the facts.

The one overwhelming question I have still yet to receive a satisfactory answer to is how ASTR benefits from its subnet holding in revenue/FIAT in a manner that grows the SP?

That is the investment case. Otherwise I'll sell and buy Tao directly.

I'm very interested in Bittensor/Tao at this reasonably early stage. There's still a disconnect between Bittensor (SN127 and other investments) and how ASTR benefits in revenue/real world income.

If you did watch the zoom meeting, it was made unequivocally clear that drawing Tao from the ecosystem into USD/FIAT was extremely discouraged and frowned upon.

So in a nutshell, where is the income for ASTR to drive the SP?

BTW, the zoom meet was recorded, so those who missed it can watch it in their own time.

I’m a latecomer here. So I’m not sat on a loss, I’m actually sat looking at a tiny profit/breakeven if I sell today.

I watched the zoom meeting from beginning to end and asked a couple of questions that were addressed at the end.

This is my takeaway.

Bittensor is still in its early evolution stage, even the framework isn’t fixed (number of subnets may or may not expand in the near future etc). The only thing that is fixed right now is the number of Tao that will exist, based on the same premis as BTC, 21 million.

I feel a strong case exists to invest in Tao, particularly if you have the ability/understanding to be able to invest it in alpha, in subnets.

Where I struggle to see an investment case (after the zoom call) is in ASTR.

When I asked how ASTR (or any other external entity for that matter) benefits in income/value from being an owner/operator of a subnet. It appeared to be a difficult question to give a relatively straight answer to.

If the two most senior officers of this company can’t articulate how ASTR benefits or receives income from its position within Bittensor then you’re going to struggle to attract new investment, or even retain existing investment.

The incentive is very strongly made clear to not draw any value out of the system. In fact that seems to be frowned upon.

So I’m now asking why I’m invested in ASTR when the main BOD have made it clear the investment case appears to be in Tao itself.

As ever this is my perspective and opinion, and I’d like to hear what others took away from yesterday’s meet in case I’ve missed something, misinterpreted and explanation etc.

Another member asked “what is the exit strategy” and I don’t recall a satisfactory answer to that either.

I’m here to make money, we’re all here to make money. If the path to doing so (an increase in SP in ASTR) isn’t clear, then the case to remain here is slim.

I’ll wait for the RNS and formal announcements, see how the SP reacts, then make a call on whether to hold or sell.

Interested in what others took away from the meeting.

My statements are mutually exclusive. I can trade today, in either direction on IG and HL.

Insiders can't buy right now without breaching closed period rules.

I have accounts with HL and IG and can trade ASTR in either direction.

Until the accounts are issued via RNS we are in a closed period, so no insiders can trade.

Reality (in either direction) will reveal itself once the year end numbers have been formally issued, which is imminent.

That means it's reasonably likely that the results RNS should be posted any day. It wouldn't make sense to record the interviews whilst still unable to speak freely.

Now would be a good time to stop digging.

Stupid because it offers one of two possibilities.

1. If you do know what's going on behind the scenes, you're stating on a public bulletin board that you're insider trading.

2. You don't actually know what's going on, and you're a Walter Mitty character.

Either option = Stupid.

Re Director buys.

I have a feeling we're currently in a closed period until the formal (RNS) announcement of numbers is made.

Everything will unfold in real time once that cork has been released.

Gold is still the way to go IMO. Especially as the USA kicked the tier 1 requirements of the Basel iii framework down the road to 2027.

In a little over 12 months they're going to be forced to buy 1000's of tonnes of gold to underpin their banks. It wouldn't be absurd to see gold continue its record breaking streak for some time yet. Even hit $10,000 oz, a number which feels frankly absurd.

Along with what's going on with Silver right now. Where the gap between paper value and real world physical trades has simply disconnected.

We're watching something life changing taking place globally. The BRICS countries are positioning themselves to control energy as much as possible, creating their own currency the "unit" in preparation for the USD ceasing to be the global currency.

The USA have just effectively invaded (politically) Venezuela to control the oil supply in an attempt to play chess with the BRICS nations.

Energy is the endgame here.

Money is flowing to gold. Physical gold, not paper or ETF's, but bars in your safe.

The only questions are where does BTC and ETH fit into all this as it unfolds. And where do your park your FIAT whilst we sit back and watch the poo hit the fan? Gold looks like the only sensible option.

Reads like a holding RNS an amuse bouche until the starter and main course arrive.

Communication is a step in the right direction, even if it's something like this. Silence is never welcome.

Siam had mentioned on X that the results and numbers were due "early" January. In my mind, that's the first couple of weeks. Lets hope they reamin on target.

Clive, you can follow the real time output of SN107, that hasn't been named Tiger Alpha since August.

https://taostats.io/subnets/107/chart

Currently ranked 95 of the 127 subnets.

There is also a Tiger Beta Subnet owned by Tiger resources:-

https://taostats.io/subnets/126/chart

Again, you can follow the real time numbers.

There is currently disconnet between Tao, Bittensor in general and how "the market" attributes a GBP or USD value to it when it comes to the balance sheet of a listed company.

For pure comparison purposes only, the Astrid subnet is this one.

https://taostats.io/subnets/127/chart

I have read it. It's generic and unspecific, which is why the SP is languishing where it currently is.

Staking is known, but staking what and where?

"Decentralised AI" again, in what, where and how?

If you want to invest in a company that's gone all in on decentralised AI, and understands it, whose officers are involved in the very fabric of the industry in which they are investing, then ASTR is a better choice.

Until SATS reveal/provide specifics, it's an unknown. That may unfold now that they're not spending 100% of their attention fighting fires just to stay alive. But that is the key to the SP, not just the measure of the mcap/nav disparity.

I have read it. It's generic and unspecific, which is why the SP is languishing where it currently is.

Staking is known, but staking what and where?

"Decentralised AI" again, in what, where and how?

If you want to invest in a company that's gone all in on decentralised AI, and understands it, whose officers are involved in the very fabric of the industry in which they are investing, then ASTR is a better choice.

Until SATS reveal/provide specifics, it's an unknown. That may unfold now that they're not spending 100% of their attention fighting fires just to stay alive. But that is the key to the SP, not just the measure of the mcap/nav disparity.

Zoom out for a moment and take a look at other DAT companies within the UK right now and note that they are almost all trading under NAV.

Including the poster child, SWC.

So the bigger question isn't specifically, why is SATS trading under Nav? But why the entire sector is?

The even more important question is, where is the revenue coming from? Or is this entire business based on the premise that there will be an exponential increase in the price of BTC?

For me personally though, the revenue question is key to all these businesses. The one that manages to create revenue and grow its treasury organically rather than via massive debt is likely to be the winner long term.

Https://x.com/SiamKidd/status/2001702114750534106

Yup, got it.

Mcap at £0.0065 currently just under £73m.