Trading Pub – 26 June 25

06:36: A full reset of portfolio, investing, and personal mental models
07:20: Bull market is definitely inbound within next six months
08:29: US needs to refinance $9.1 trillion over next four months, with most hitting in September
10:40: No countries currently buying US debt, leaving only the Federal Reserve as potential buyer
11:24: Bull market will not start until rates are cut and money printing recommences
17:14: Potential purchase of failing publicly listed company to establish strategic token reserve
18:33: Waiting until token value increases before purchasing controlling stake in a public company
22:10: Bittensor’s risk is distributed across 128 subnets, with approximately 20 having significant potential
35:41: Subnet investment strategy requires active management, not a passive ‘buy and hold’ approach
36:24: Subnet price ceilings expected to increase as protocol grows and liquidity deepens
40:11: Bittensor development progressing through three phases: infrastructure, intelligence, and retail applications
44:55: Discussing AI infrastructure development phases: real-world infrastructure, data generation, and intelligence creation
45:47: AI infrastructure requires energy generation, data centres, networking, and strategic data acquisition and curation
49:12: Bittensor positioned uniquely across AI development stack with specialized subnets targeting different infrastructure challenges
55:30: Investment strategy focuses on going all-in on promising technologies instead of traditional diversification
01:05:20: AI expected to be a 20-30 year transformative technology wave, comparable to internet’s long-term impact
01:22:40: Bitcoin viewed as financial Noah’s Ark and most effective wealth preservation method for older investors
01:35:15: Unknown Bittensor subnets need to demonstrate value or potentially face deregistration
01:42:30: Several promising subnets identified including Gaia, Synth, and subnet 57 for potential investment
01:56:17: Grok AI expected to become market-leading LLM in 3-6 months due to Elon Musk’s massive computational resources
02:01:30: Jerome Powell maintains independence on interest rate decisions, potentially cutting rates in September or December.
02:05:45: Subnet prices unlikely to 500x, but potential for significant dollar value growth exists.
02:10:22: Subnet owners should prioritize business profitability before investing in alpha token price.
02:15:50: Tao blockchain market expected to bottom out, potential recovery anticipated.