Travis Millott: Bittensor Governance, Proof of Useful Work, dTAO, Conviction Lockups | Ep. 92

In this episode, we are joined by Travis Millott, the TAO Templar, Bittensor educator and data analyst, returning for a second conversation centered on philosophy and governance. He discusses the evolution of money from proof of violence to proof of valuable work, Bittensor's decentralization progress since dTAO, and whether Const holds too much concentrated power. Travis also details his framework for reading alpha flywheel strength through buyback-and-burn rates, the rationale for quantum-proofing the chain before full decentralization, the reality behind AI-agent-owned subnets, and alpha conviction lockups as a trust signal for subnet owners. *In this episode, you'll learn* - Why Travis doesn't engage with Sam Dare's exit paper, believing it was AI-generated, and how he frames Bittensor's decentralization progress since dTAO as genuine movement toward an open market - The evolution of money from proof of violence (fiat currency) to proof of hard work (Bitcoin) to proof of valuable work (Bittensor), and why TAO is only earnable by producing something the market values - Travis's case for quantum-proofing Bittensor's substrate before full decentralization, arguing that a centralized chain can adopt quantum resistance faster than one requiring broad consensus - Why Travis believes Const holds too much power — and why he believes every individual, including those at the OTF, is corruptible by power, making structural decentralization the only real safeguard - His framework for evaluating alpha flywheel strength using buyback-and-burn rates and alpha supply growth as a proxy for a subnet's proximity to real revenue - Alpha conviction lockups as a trust-building mechanism ranked below buyback-and-burns but above verbal commitment, and what mandatory lock periods could mean for subnet owner key transfer - The two futures for Bittensor — permissionless global commodity competitions versus gradual centralization — and why Travis believes a fork is always available if the

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Taosis indexes announcements, articles, posts and releases about Bittensor subnets from their own channels and keeps a record of each. The text above is the source’s; the figures are read from the chain by Taosis.