The Bitcoin Layer 2 Thesis
1. Bitcoin is the most reliable, secure foundation to build decentralized applications. At $500B market cap, it is also a large and mostly untapped market.
2. Institutional adoption will result in significant capital inflows to BTC. As Bitcoin ETFs
1/ I’m excited to share I’m starting a new adventure at
@Stacks
, leading partnerships and go-to-market strategy for sBTC.
A few thoughts on why I’m bullish on the future of
#Bitcoin
layers 🧵👇
some important dates
$GRIN HF - 2mrw?
$LTC 1/2ing - Aug 5th
$ETC HF - Sept 17th
$EOS HF - Sept 23rd
$ETH HF - Late Oct
$ZEC HF - Oct 28th
$XMR 1/2ing ish - Nov 5th
$ETH 2.0 phase 0 - Jan ish
$BTC 1/2ing - May 19th
$MKR m-c $DAI - Soon
💡sBTC is a 1:1 bitcoin-backed programmable asset that will enable you to put your Bitcoin to work in a secure and decentralized way.
Today, we’re releasing more details on the roadmap.
🛣️👇
In the last 6 months Zcash has launched:
🛡️Shielded mobile wallet
🎯Zcash Developer Alliance
🔎Viewing key support
👩💻Community programs (Zeal calls and Gardening club)
🤖Successful Gitcoin Grants Pilot
Day 36 of quarantine and I can finally report that my girlfriend is DOWN THE RABBIT HOLE
Currently setting up her
@Gemini
account to get her first
#bitcoin
, ETH, and Zcash.
#Bitcoin
is the new gold paradigm. Ether $ETH is the new oil paradigm. Crypto is the new decentralization paradigm that will eat the centralized world.
Judging by my twitter feed Coronavirus is helping us to:
-Spend time with family
-Exercise more outdoors
-Shift to remote work
-Cut carbon emissions
-Embrace universal basic income
Maybe this is what we needed all along 🤔😂🤷♂️
Bitcoin will do to banks what Netflix did to cable.
Cord-cutting is real, but vastly overstated early on. Netflix didn’t replace cable, but it gave people a choice and forced cable to adapt. Both can coexist, but the new landscape will look very different.
Published some thoughts on the
@Figment_io
x
@Stacks
announcement.
This is an important step toward a robust validator network for Stacks, and I'm thrilled that Figment has decided to join us on the frontier of Bitcoin L2s!
The road to socialism via inflation:
• Print money, crash the reserve currency, destroy savers, and force them into inflated assets.
• Asset inflation leads to inequality. Demonize asset holders and tax the nominal gains, thereby confiscating the real value of the assets.
@StacksStartups
@mineCityCoins
“Play to earn” model that allows you to earn MIA for doing something productive, such as volunteering or working on a particular cause.
ICYMI: According to a proposal by
@JudeCNelson
, the sBTC system could support wrapping/unwrapping for Ordinals.
This would create a more programmable layer for Ordinals trading rather than dealing with BTC script.
sBTC + Ordinals = sOrdinals 🤝
The first sBTC testnet app is finally here!
Introducing the Hermetica Earn vault:
Leveraging
@Stacks
' sBTC dev release we are offering a glimpse into the future - the first non-custodial Earn product fully powered by
#Bitcoin
.
Learn more 👇
Today,
@Gemini
announced support for shielded Zcash withdrawals. This is an important milestone for financial privacy and shows that Zcash’s confidential transactions are compliant with NYDFS regulations.
#Zcash
$ZEC
Heard on a partner call this week:
“Here's what I know about
#Zcash
:"
- It uses elliptic curve zero-knowledge proofs.
- Zooko is involved.
- They have the best cryptographers.
- Unlike most blockchains it’s not a money grab.
Sounds about right. 💯
Huge news - sOrdinals are live on Stacks
With rising BTC fees, trading Ordinals can be expensive. Stacks enables creators to inscribe and transfer with fees often < $1
The team at
@asignaio
continues to cook 🔥
🔥 Exciting Update for
@Stacks
family: sOrdinals now live on ! For those following experiment releases, you're in for a treat. Detailed protocol explanation at .
In the next 6 months Zcash has:
⬆️Two major network upgrades (Heartwood, Canopy)
🚀First block reward halving
⚖️New dev fund (ECC/ZF/MGRC)
🤖Native support on Gitcoin grants
🥇 (£6,000) SeedSwipe is Tinder for investors! Built by
@imperialcollege
and
@KingsCollegeLon
engineering grads, their iOS app allows investors to invest in companies using crowdfunding features enabled by sBTC 💰 You’ll want your sound ON for this amazing demo! 👇
Bitcoin L2s are here. Loving the energy at Bitcoin Renaissance today. Together, we’re going to scale Bitcoin to a billion users 🟧
Huge thanks to the organizers and sponsors
@babylon_chain
@build_on_bob
@hirosystems
Looks like there is already an Exchange-Traded Product (ETP) for
@Stacks
.
ASTX by
@21Shares
is 100% physically backed and tracks STX performance.
Discovering new things!
Yesterday, the sBTC working group released details on the sBTC launch plan that will occur shortly after Nakamoto.
TLDR: sBTC is fully scoped with the release candidate planned for this summer. Phase 1 of the rollout will fast follow Nakamoto.
🧵👇
For those who have been bullish on Bitcoin layers for a long time, this week has been validating.
There's still a long road ahead and we won't stop until all BTC is used onchain as a productive asset.
The orange tsunami is coming 🌊
I bought a beautiful carving on OpenBazaar Haven (). It's a carving of a traditional Inuit hunter pursuing a whale. The user experience was great! Totally easy. I paid in ZEC.
I'm glad to see the enthusiasm in the community for Zcash Shielded Assets.
With ZSAs, Zcash is positioned to become the privacy layer for digital money.
Here's a quick thread on what this could mean 🧵👇
Yesterday we finished cohort 1 of the
@clarity_lang
bootcamp with some incredible insights for the program and opportunities moving forward 🙌🚀
Huge thank you to
@Stacks
@MDCollege
and everyone involved for making this possible. See you this weekend at
#MiamiforEveryone
"Zcash is well-positioned to act as the privacy layer for these chains. By supporting user-defined assets and encouraging bridges from other ecosystems, Zcash can maintain relevance and drive privacy in a multi-chain world."
Things just got really interesting.
4/ A few things I’m excited about exploring:
-A world-class UX for stablecoin loans and NFT trading with BTC
-Lightning: fund DeFi apps straight from a LN wallet
-BNS: send/receive BTC to a .btc address
-Liquid staking: earn a yield on BTC while trustlessly using it in dapps
Happy Friday Stackers. There's been a lot happening in the ecosystem lately, so I broke down the latest to help you stay up to speed.
Check out this week's issue of Bitcoin Writes here 👇
Excited to join a panel with
@alexlmiller
@castig
&
@kyleellicott
this Friday for a discussion on all things Bitcoin and leak some sBTC alpha 👀
Let's keep Bitcoin Weird!
@UnstoppableByHS
is easily one of the most underrated crypto wallets.
They've developed a smooth UX with an approach that is trust minimizing and privacy maximizing.
Also, they support shielded $ZEC
The ALEX team doubled down during the bear and their conviction in Stacks has been unshakeable.
Massive congrats to the whole team, this has been well deserved
@RuleBasedInvest
@5eightandeight
@rachel_alexgo
With immense pride, we share the milestone achievement that ALEX has secured $10 million in our latest funding round, led by
@TheSpartanGroup
. This funding round reflects the trust in our mission to innovate the Bitcoin financial landscape. Thanks to our partners and investors
@ElectricCoinCo
@jswihart
@zooko
@ZcashFoundation
I will be joining as Business Development Manager, focused on driving adoption of
#Zcash
$ZEC and managing global partnerships
If you're working on an app or company that could provide value to the Zcash ecosystem, feel free to slide into my DMs
After multichain the community need to decide on the next group of chains.
* must have a Defi ecosystem and/or be economically significant
* must have community devs to spear-head the work
The team have the following short list:
* Dogecoin
* Haven
* Polkadot
* Zcash
* BSC
1/ ECC recently concluded a pilot program with Bronx Community College. 25 students enrolled in a six-part series to learn about cryptocurrencies and financial literacy.
Here's what we learned and what we hope to see in the future.
🧵👇
5/ Ordinals has revealed strong demand for Bitcoin NFTs. Stacks complements this in a few ways:
-Scalability: only hash stored on main-chain, reducing load on full nodes
-TX fees: drives demand for block space resulting in increased security budget
-UX: trading & atomic swaps
My talk on Growing the Bitcoin Economy is now live!
TLDR: Bitcoin is the ideal base layer for the decentralized web and now is the time to bring DeFi to Bitcoin.
Full video:
Who uses Bitcoin DeFi? 🤷♂️
Our assumption is that Bitcoin holders and DeFi users have different views and motivations.
The former optimizes for security and sovereignty while the latter optimizes for experimentation and collective ownership.
Excited that
@yalaorg
has chosen to launch their Bitcoin-backed stablecoin on Stacks.
This is a big unlock, enabling greater liquidity and composability across DeFi applications 🔥
🔥We're excited to announce that
#Yala
and
@Stacks
join forces to improve the
#Bitcoin
#DeFi
experience with a strategic partnership.
#Stacks
is a Bitcoin L2 enabling smart contracts & apps with Bitcoin as a secure base layer.
Yala will leverage its meta yield
#stablecoin
to
JUST IN: With the newly formed Zcash Developers Alliance,
@ElectricCoinCo
is helping to bring Zcash-inspired privacy tools to Bitcoin's Lightning Network,
@ethereum
,
@cosmos
and more.
@La__Cuen
reports
Huge news,
@Ryder_ID
is absorbing Fast Pool!
They will become one of the largest Signers on Nakamoto and sBTC.
The Ryder team are true Stacks OGs. Excited for them to bring their cutting-edge wallet designs to Bitcoin, enabling deep sBTC integrations and payment UX.
We're proud to introduce
@TheFastPool
one of the 1st & largest Stacking Pool (~90M USD TVL) in the
@Stacks
ecosystem will be operated by Ryder.
From here on out, you can expect more innovation:
✅Future sBTC payout
✅Liquid Stacking
✅Off-ramp & On-ramp
2/ Building on Bitcoin has become contrarian.
Bitcoin has limited scripting by design to provide security + reliability. These qualities are good for SoV, but impossible to do more expressive use cases.
Yet $BTC still has the largest mkt cap with $400B+ waiting to be deployed
Another gem from
@Snowden
"Ultimately, saying that you don’t care about privacy because you have nothing to hide is no different from saying you don’t care about freedom of speech because you have nothing to say."
#PermanentRecord
To help us judge
#Zcash
submissions for the
@gitcoin
Protect Privacy Hackathon, we've enlisted some help from
@VitalikButerin
. There is still time to submit your project idea, because THE DEADLINE HAS BEEN EXTENDED to Monday, July 6. Happy hacking!
Multiple
#Stacks
Signers are listed on the
@StakingRewards
Top Staking Providers list 🧡
Shout out to
@luganodes
, earlier announced as Stacks Signer, for their AAA ranking.
Guess what Signer on this list you think will be announced next for the leading Bitcoin L2 👇
Introducing sORDINALS (sORDS) - a groundbreaking initiative for Inscriptions on Stacks! This development brings image inscriptions to the Stacks ecosystem and enhances scalability for Bitcoin Ordinals. Ready to dive in? Inscribe now at . Explore further