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When Harvard-trained astrophysicist Stephen Perrenod looked at Bitcoin on a log-log chart, what he saw completely changed how he understood the asset. The real breakthrough for moneyordebt ∞/21M came in 2019. Applying a physics background and computational tools revealed to him a pattern unseen in traditional finance: On a...

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"Where are the servers of Bitcoin located?” - Prof Jiang That single question from Jiang shows the misunderstanding immediately. Bitcoin does not run on one company’s servers, Bitcoin runs on a distributed network of nodes spread across the world, which is exactly why it is hard to censor, shut down, or control, plus the mining system on top of it to protect it with energy. When someone frames Bitcoin like a centralized system, they are not critiquing Bitcoin as it is. They are critiquing a version of Bitcoin that exists only in their own confusion.
0:33

"Where are the servers of Bitcoin located?” - Prof Jiang That single question from Jiang shows the misunderstanding immediately. Bitcoin does not run on one company’s servers, Bitcoin runs on a distributed network of nodes spread across the world, which is exactly why it is hard to censor, shut down, or control, plus the mining system on top of it to protect it with energy. When someone frames Bitcoin like a centralized system, they are not critiquing Bitcoin as it is. They are critiquing a version of Bitcoin that exists only in their own confusion.

MDB

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Bitcoin isn’t secured by hope. It’s secured by incentives. Marty Bent puts on a clinic in this clip with Nick Nemeth (Mispriced Assets) . He defends the design of Bitcoin’s protocol and how the incentives debunk the mining death spiral. The difficulty adjustment factor and the purpose built ASIC’s create a system that almost defends itself. From TFTC channel.
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Bitcoin isn’t secured by hope. It’s secured by incentives. Marty Bent puts on a clinic in this clip with Nick Nemeth (Mispriced Assets) . He defends the design of Bitcoin’s protocol and how the incentives debunk the mining death spiral. The difficulty adjustment factor and the purpose built ASIC’s create a system that almost defends itself. From TFTC channel.

J64 - SignalStation.app

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Bitcoin to $1M isn't a prediction. It follows a law of nature. Giovanni's BTC_POWER_LAW joins me to break down the Power Law governing Bitcoin's price trajectory. The same pattern exists behind earthquakes, galaxies, the growth of cities, the internet's adoption and more. TIMESTAMPS: 00:00 What is Bitcoin Power Law Theory? 7:58 What Does Bitcoin Power Law Explain? 14:03 The Bitcoin Chart You Can't Unsee 14:52 Bitcoin's Price = Time to the Power of ~6 21:30 Bitcoin Follows Laws of Nature, Just Like the Universe 26:22 97% of Bitcoin's Behavior Explained by One Equation 33:37 Bitcoin's Addresses Grow Like the Internet, But Faster 34:10 Why Bitcoin Is a Bottom-Up Network, Not an S-Curve 37:44 Does the Power Law Apply to Gold or Nvidia? No. Here's Why. 39:18 S&P 500 Is Just Beating Inflation - Bitcoin Is Something Else 49:43 Price Predictions: $120K in 2026, $1M in 8 Years, $10M in 20? 56:40 Bitcoin Has Gone Up 100 Million Times. Still Has 100x Left.
1:05:19

Bitcoin to $1M isn't a prediction. It follows a law of nature. Giovanni's BTC_POWER_LAW joins me to break down the Power Law governing Bitcoin's price trajectory. The same pattern exists behind earthquakes, galaxies, the growth of cities, the internet's adoption and more. TIMESTAMPS: 00:00 What is Bitcoin Power Law Theory? 7:58 What Does Bitcoin Power Law Explain? 14:03 The Bitcoin Chart You Can't Unsee 14:52 Bitcoin's Price = Time to the Power of ~6 21:30 Bitcoin Follows Laws of Nature, Just Like the Universe 26:22 97% of Bitcoin's Behavior Explained by One Equation 33:37 Bitcoin's Addresses Grow Like the Internet, But Faster 34:10 Why Bitcoin Is a Bottom-Up Network, Not an S-Curve 37:44 Does the Power Law Apply to Gold or Nvidia? No. Here's Why. 39:18 S&P 500 Is Just Beating Inflation - Bitcoin Is Something Else 49:43 Price Predictions: $120K in 2026, $1M in 8 Years, $10M in 20? 56:40 Bitcoin Has Gone Up 100 Million Times. Still Has 100x Left.

Natalie Brunell ⚡️

203,447 Aufrufe • vor 3 Monaten

This is how DNA turns coded information into functional proteins - the building blocks of the nanomachines that keep the cells in your body alive. This complex process highlights the sophisticated interconnected systems of Life which must all exist together from the beginning, or Life doesn't happen. First, an RNA molecule is copied from a short segment of DNA. Without the specifically ordered DNA information, RNA cannot form, proteins cannot be built, cells stop working, and life ceases to exist. Life is information first. Once the RNA Molecule is created, it gets ejected from the Polymerase where it was built, and it travels through a complex molecular machine called a Nuclear Pore Complex (NPC), which is an information recognition device that controls the flow of information in and out of a cell's nucleus. The NPC is highly complex - composed of about 500-1,000 protein subunits, derived from a set of about 35 distinct proteins. Without this molecular machine, there is no regulation for what goes in and out of the cell's nucleus, which would lead to catastrophic death for the cell. It must exist for cells to exist. Once the RNA Molecule passes through the NPC, it travels to the Ribosome, a 2-part chemical factory which reads the information on RNA and uses it to construct functional proteins using a specifically sequenced chain of amino acids. Once complete, this protein will then be sent to the section of the cell it belongs to integrate into another molecular machine and do its job. The Ribosome is another highly complex molecular machine - consisting of between 56-80 proteins. Without this molecular machines, proteins cannot be built. Proteins are the building blocks of every cell in every organism on Earth. Without Ribosomes, Life doesn't exist. If you're paying attention, you'll start to realize that Life relies on a highly sophisticated interdependent network of complex machines, which all rely on each other for the function of the system. DNA requires the cell for stability, but the cell requires the proteins for its structure and function, but those proteins require DNA and RNA to be built - it's a circle of necessary interdependence. Systems like this cannot be built by evolutionary processes, which requires that each piece of the process is built by gradual incremental means over lots of time. Without all the pieces there, from the beginning, none of it works. There is only one known source of complex & interdependent informational systems like those we find in life: and that is from Intelligence. Molecular Biology is the best and most obvious evidence of the Intelligent Design in Life.
0:55

This is how DNA turns coded information into functional proteins - the building blocks of the nanomachines that keep the cells in your body alive. This complex process highlights the sophisticated interconnected systems of Life which must all exist together from the beginning, or Life doesn't happen. First, an RNA molecule is copied from a short segment of DNA. Without the specifically ordered DNA information, RNA cannot form, proteins cannot be built, cells stop working, and life ceases to exist. Life is information first. Once the RNA Molecule is created, it gets ejected from the Polymerase where it was built, and it travels through a complex molecular machine called a Nuclear Pore Complex (NPC), which is an information recognition device that controls the flow of information in and out of a cell's nucleus. The NPC is highly complex - composed of about 500-1,000 protein subunits, derived from a set of about 35 distinct proteins. Without this molecular machine, there is no regulation for what goes in and out of the cell's nucleus, which would lead to catastrophic death for the cell. It must exist for cells to exist. Once the RNA Molecule passes through the NPC, it travels to the Ribosome, a 2-part chemical factory which reads the information on RNA and uses it to construct functional proteins using a specifically sequenced chain of amino acids. Once complete, this protein will then be sent to the section of the cell it belongs to integrate into another molecular machine and do its job. The Ribosome is another highly complex molecular machine - consisting of between 56-80 proteins. Without this molecular machines, proteins cannot be built. Proteins are the building blocks of every cell in every organism on Earth. Without Ribosomes, Life doesn't exist. If you're paying attention, you'll start to realize that Life relies on a highly sophisticated interdependent network of complex machines, which all rely on each other for the function of the system. DNA requires the cell for stability, but the cell requires the proteins for its structure and function, but those proteins require DNA and RNA to be built - it's a circle of necessary interdependence. Systems like this cannot be built by evolutionary processes, which requires that each piece of the process is built by gradual incremental means over lots of time. Without all the pieces there, from the beginning, none of it works. There is only one known source of complex & interdependent informational systems like those we find in life: and that is from Intelligence. Molecular Biology is the best and most obvious evidence of the Intelligent Design in Life.

Divinely Designed

62,517 Aufrufe • vor 7 Monaten

Vinny Lingham on exactly how the MSTR empire could crash step by step "The moment MSTR trades at a discount he cannot raise more cash. He is locked out. He cannot sell MSTR. He cannot sell STRC. Then he starts running out of cash. Call it nine months, eight months, seven months" "The market prices this in well in advance. The biggest buyer of Bitcoin is being removed. People selling Bitcoin are going to push the price down" "There is a void that forms in the market. The person who has been providing liquidity for years is no longer providing it. The price of Bitcoin goes into a deeper bear market. And then he has to sell Bitcoin to pay the interest on the preferreds"
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Vinny Lingham on exactly how the MSTR empire could crash step by step "The moment MSTR trades at a discount he cannot raise more cash. He is locked out. He cannot sell MSTR. He cannot sell STRC. Then he starts running out of cash. Call it nine months, eight months, seven months" "The market prices this in well in advance. The biggest buyer of Bitcoin is being removed. People selling Bitcoin are going to push the price down" "There is a void that forms in the market. The person who has been providing liquidity for years is no longer providing it. The price of Bitcoin goes into a deeper bear market. And then he has to sell Bitcoin to pay the interest on the preferreds"

Laura Shin

98,694 Aufrufe • vor 1 Monat

When people talk about Bitcoin, they usually anchor the conversation to price, halving & liquidity cycles, ETF flows, short-term volatility. But that mindset is far too limited. While price is signal, its short term variations are meaningless. Grant Cardone If we genuinely want to understand where Bitcoin can go, we have to stop fixating on price entirely and shift toward TAM (Total Addressable Market). Not TAM in a linear sense, but TAM in a cubed sense. This is where Peter Dunworth framework is so powerful. Instead of treating Bitcoin as an asset that competes in one market, he forces us to recognize that Bitcoin is simultaneously disrupting and replacing three of the most fundamental monetary domains: •store of value, •medium of exchange, and •unit of account. Put together, this is the worlds first “triple point asset”, or what you could call money cubed - a monetary technology that compounds across all three functions at once. And once you understand that framing, the conversation shifts from short-term price movements to the structure of the global financial system and the total markets Bitcoin is absorbing. Dunworth walks through those mechanics with absolute clarity. He illustrates how a fixed-issuance monetary network interacts with a world built on constantly expanding economic activity. When global settlement flows and monetary throughput collide with an asset whose supply schedule is permanently capped, the system is forced to revalue itself to handle that load. It’s a simple but profound dynamic: increasing global demand flowing through a monetary base that cannot expand. The result isn’t a forecast; it’s the natural economic physics of a system that cannot inflate to absorb growth, and therefore must reprice to accommodate it. This is how TAM compounds in an exponential, not linear, way… and why thinking in terms of “price targets” misses the entire point. And if it takes 30 or 40 years for this transition to unfold, that still aligns with the broader monetary reality. Fiat currencies will continue to debase, global economic output will keep expanding, and Bitcoin will remain the one monetary instrument whose supply is perfectly fixed. At some point, we have to place a net present value on all future economic activity being denominated, settled, or stored in a system that cannot be diluted. That is the essence of Dunworth’s framework: Don’t focus on numbers. Don’t obsess over timelines. Focus on the mechanics, the TAM, and the triple-layered monetary disruption. Because once you see Bitcoin as money to the third power (a store of value, medium of exchange, and unit of account all compounding together) the future valuation isn’t a prediction. It’ a logical endpoint of how the protocol is built.
8:08

When people talk about Bitcoin, they usually anchor the conversation to price, halving & liquidity cycles, ETF flows, short-term volatility. But that mindset is far too limited. While price is signal, its short term variations are meaningless. Grant Cardone If we genuinely want to understand where Bitcoin can go, we have to stop fixating on price entirely and shift toward TAM (Total Addressable Market). Not TAM in a linear sense, but TAM in a cubed sense. This is where Peter Dunworth framework is so powerful. Instead of treating Bitcoin as an asset that competes in one market, he forces us to recognize that Bitcoin is simultaneously disrupting and replacing three of the most fundamental monetary domains: •store of value, •medium of exchange, and •unit of account. Put together, this is the worlds first “triple point asset”, or what you could call money cubed - a monetary technology that compounds across all three functions at once. And once you understand that framing, the conversation shifts from short-term price movements to the structure of the global financial system and the total markets Bitcoin is absorbing. Dunworth walks through those mechanics with absolute clarity. He illustrates how a fixed-issuance monetary network interacts with a world built on constantly expanding economic activity. When global settlement flows and monetary throughput collide with an asset whose supply schedule is permanently capped, the system is forced to revalue itself to handle that load. It’s a simple but profound dynamic: increasing global demand flowing through a monetary base that cannot expand. The result isn’t a forecast; it’s the natural economic physics of a system that cannot inflate to absorb growth, and therefore must reprice to accommodate it. This is how TAM compounds in an exponential, not linear, way… and why thinking in terms of “price targets” misses the entire point. And if it takes 30 or 40 years for this transition to unfold, that still aligns with the broader monetary reality. Fiat currencies will continue to debase, global economic output will keep expanding, and Bitcoin will remain the one monetary instrument whose supply is perfectly fixed. At some point, we have to place a net present value on all future economic activity being denominated, settled, or stored in a system that cannot be diluted. That is the essence of Dunworth’s framework: Don’t focus on numbers. Don’t obsess over timelines. Focus on the mechanics, the TAM, and the triple-layered monetary disruption. Because once you see Bitcoin as money to the third power (a store of value, medium of exchange, and unit of account all compounding together) the future valuation isn’t a prediction. It’ a logical endpoint of how the protocol is built.

MarylandHODL #BIP-110 (aka The Transition)

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Twenty-five years of working with RNA taught one medical biochemist three things you should never do with it: modify it, stabilize it, or inject it. The mRNA COVID vaccine did all three, and I asked him to walk me through why that's important. He described RNA as the blueprint of a cell, the instructions it uses to translate into proteins that do the actual work. If that blueprint is modified mid-construction, you don't get the protein you designed. You get fragments, and he said that's what is being produced in the majority of cases after the modification and injection of the spike protein RNA. The greater danger is reverse transcription. When the RNA template persists in the cell long enough, it can be converted back into DNA. A cell with more DNA than it should have is something every physician recognizes. It's called aneuploidy, and it's a transformed cell. It's cancer. He told me that, in his assessment as someone who has spent his career studying exactly this biology, the impact of all of this is beyond a disaster.
1:53

Twenty-five years of working with RNA taught one medical biochemist three things you should never do with it: modify it, stabilize it, or inject it. The mRNA COVID vaccine did all three, and I asked him to walk me through why that's important. He described RNA as the blueprint of a cell, the instructions it uses to translate into proteins that do the actual work. If that blueprint is modified mid-construction, you don't get the protein you designed. You get fragments, and he said that's what is being produced in the majority of cases after the modification and injection of the spike protein RNA. The greater danger is reverse transcription. When the RNA template persists in the cell long enough, it can be converted back into DNA. A cell with more DNA than it should have is something every physician recognizes. It's called aneuploidy, and it's a transformed cell. It's cancer. He told me that, in his assessment as someone who has spent his career studying exactly this biology, the impact of all of this is beyond a disaster.

Del Bigtree

161,659 Aufrufe • vor 13 Tagen

Wow a memecoin CTO has unearthed a piece of crypto history... A 12 year-old boy made a youtube video in 2011 talking about Bitcoin when it was still at only $8... even before Davinci Davinci Jeremie made his viral video and before Michael Saylor has even heard of Bitcoin. The $TPU community has made a memecoin to honour First Bitcoin Kid Token and has since found him and gotten in touch with him, with the mission of spreading this story and getting eyes on this piece of crypto history. 🔥 Tom the First Bitcoin Kid now holds and has agreed to lock nearly 12,000,000 TPU for 6 months and has since come onto a spaces to tell the rest of his story, explaining that he was too young to invest in Bitcoin at the time. Their next mission is to get 1 bitcoin for Tom so he can purchase it for $8 so he can buy it at the price he found it at! Super dedicated and cultish community have been working hard and are making quick progress with their missions.
0:31

Wow a memecoin CTO has unearthed a piece of crypto history... A 12 year-old boy made a youtube video in 2011 talking about Bitcoin when it was still at only $8... even before Davinci Davinci Jeremie made his viral video and before Michael Saylor has even heard of Bitcoin. The $TPU community has made a memecoin to honour First Bitcoin Kid Token and has since found him and gotten in touch with him, with the mission of spreading this story and getting eyes on this piece of crypto history. 🔥 Tom the First Bitcoin Kid now holds and has agreed to lock nearly 12,000,000 TPU for 6 months and has since come onto a spaces to tell the rest of his story, explaining that he was too young to invest in Bitcoin at the time. Their next mission is to get 1 bitcoin for Tom so he can purchase it for $8 so he can buy it at the price he found it at! Super dedicated and cultish community have been working hard and are making quick progress with their missions.

Kate Miller

152,762 Aufrufe • vor 1 Jahr

Threadguy explains why ZEC is one of the only attractive crypto asset to him right now “It's marketcap is only $8B, it's pennies. It's shown the ability to pump like no other" "It has the institutional love, people are doing the DATs, the Winklevoss twins are coming in. It has this privacy narrative, which I think is giga undervalued, and it is the antithesis of the Bitcoin narrative” “I’m in the business of narratives and trading charts. The narrative says it’s quantum resistant and it’s everything Bitcoin is not. I look at the chart and it looks like this is a once-in-a-year setup”
1:15

Threadguy explains why ZEC is one of the only attractive crypto asset to him right now “It's marketcap is only $8B, it's pennies. It's shown the ability to pump like no other" "It has the institutional love, people are doing the DATs, the Winklevoss twins are coming in. It has this privacy narrative, which I think is giga undervalued, and it is the antithesis of the Bitcoin narrative” “I’m in the business of narratives and trading charts. The narrative says it’s quantum resistant and it’s everything Bitcoin is not. I look at the chart and it looks like this is a once-in-a-year setup”

Mikli

89,788 Aufrufe • vor 3 Monaten

NEW: Farida Nabourema gives a powerful opening keynote at the Africa #Bitcoin Conference 🇰🇪 Bitcoin “is a system that says your time, your life matters, and this is what Satoshi taught us, to disrupt systems of control that exploits the many for the benefit of the few. To create a world where financial sovereignty is not a privilege, but a right, and to believe in the possibility of freedom, monetary equality.”
7:42

NEW: Farida Nabourema gives a powerful opening keynote at the Africa #Bitcoin Conference 🇰🇪 Bitcoin “is a system that says your time, your life matters, and this is what Satoshi taught us, to disrupt systems of control that exploits the many for the benefit of the few. To create a world where financial sovereignty is not a privilege, but a right, and to believe in the possibility of freedom, monetary equality.”

Simply Bitcoin

20,322 Aufrufe • vor 1 Jahr

They looked at the energy industry and saw a broken system. So Alan Chang and charles orr rebuilt it — from EVs to the smart devices on your wall. Fuse is a virtual power plant putting energy back in the hands of the people. This is DePIN on Solana.
2:23

They looked at the energy industry and saw a broken system. So Alan Chang and charles orr rebuilt it — from EVs to the smart devices on your wall. Fuse is a virtual power plant putting energy back in the hands of the people. This is DePIN on Solana.

Solana

536,528 Aufrufe • vor 1 Jahr

"I used to be a bitcoiner. The transition to a new store of value only happens once every 3,000 years. That's the main prize -- just focus on that. But [security] is the criteria that ultimately convinced me to flip from Bitcoin to ETH." "I have a higher degree of certainty that Ethereum will be around longer [than Bitcoin]. The reason for that is because Bitcoin relies on proof-of-work, which is less efficient than proof-of-stake and doesn't scale with the value of the network. And as the block subsidy of Bitcoin halves every four years, it is increasingly becoming more and more reliant on transaction fees to fund the security budget paid to miners." "If you look at [Bitcoin's] security budget right now, about 0.6% of revenue to miners is transaction fees... The problem with that is if Bitcoin becomes 'digital gold', flips gold, and becomes a $30 trillion asset, but it only costs $10-20 billion to attack it, that's too asymmetric." "You want the security budget to scale with the market cap, similar to how countries spend a % of their GDP on defense. The more valuable something is, the more you need to spend to protect it." "Ethereum, with the Merge, migrated to proof-of-stake, which is fundamentally more secure because it's less reliant on transaction fees and it scales with the value of the network. If 1/3rd of ETH is staked and then you need 1/3rd of those ETH to censor the network, you're looking at roughly 10% of the total market cap as the cost to attack the network." "So if Ethereum flips Bitcoin and gold and becomes a $30 trillion asset, it'll cost ~$3 trillion to attack the Ethereum network versus Bitcoin at like $10 billion." "The other aspect here is that as AI hyperscalers invest more and more in AI, proof-of-work becomes increasingly vulnerable because the cost to attack the Bitcoin network is starting to look close to the quarterly CapEx these hyperscalers are spending on their data centers." Full interview on Bankless with Vivek Raman discussing the new Etherealize "Productive Money" report below.
2:34

"I used to be a bitcoiner. The transition to a new store of value only happens once every 3,000 years. That's the main prize -- just focus on that. But [security] is the criteria that ultimately convinced me to flip from Bitcoin to ETH." "I have a higher degree of certainty that Ethereum will be around longer [than Bitcoin]. The reason for that is because Bitcoin relies on proof-of-work, which is less efficient than proof-of-stake and doesn't scale with the value of the network. And as the block subsidy of Bitcoin halves every four years, it is increasingly becoming more and more reliant on transaction fees to fund the security budget paid to miners." "If you look at [Bitcoin's] security budget right now, about 0.6% of revenue to miners is transaction fees... The problem with that is if Bitcoin becomes 'digital gold', flips gold, and becomes a $30 trillion asset, but it only costs $10-20 billion to attack it, that's too asymmetric." "You want the security budget to scale with the market cap, similar to how countries spend a % of their GDP on defense. The more valuable something is, the more you need to spend to protect it." "Ethereum, with the Merge, migrated to proof-of-stake, which is fundamentally more secure because it's less reliant on transaction fees and it scales with the value of the network. If 1/3rd of ETH is staked and then you need 1/3rd of those ETH to censor the network, you're looking at roughly 10% of the total market cap as the cost to attack the network." "So if Ethereum flips Bitcoin and gold and becomes a $30 trillion asset, it'll cost ~$3 trillion to attack the Ethereum network versus Bitcoin at like $10 billion." "The other aspect here is that as AI hyperscalers invest more and more in AI, proof-of-work becomes increasingly vulnerable because the cost to attack the Bitcoin network is starting to look close to the quarterly CapEx these hyperscalers are spending on their data centers." Full interview on Bankless with Vivek Raman discussing the new Etherealize "Productive Money" report below.

Michael McGuiness

120,514 Aufrufe • vor 4 Monaten

Debunking the Flat Bitcoin Theory 🧵 In the early days of Bitcoin (2009-2014) there was a massive amount of experimentation and innovation on bitcoin The first NFTs and cryptoart started on Bitcoin The first memecoins started on Bitcoin The first stablecoins and real world assets started on Bitcoin The first dapps started on Bitcoin The first DEX started on Bitcoin The first on-chain governance started on Bitcoin The first crypto degens were playing Satoshi Dice on Bitcoin But then the OP_RETURN wars happened and people like Luke Dashjr vilified innovation and scared builders away resulting in a long period of stagnation (2015-2023) This period of stagnation gave birth to the Flat Bitcoin Theory which infected the minds of nearly everyone The Flat Bitcoin Theory is a belief held by "Flat Bitcoiners" who think that Bitcoin is a boring blockchain that is not capable of the innovative use cases that we see on alt L1s like Ethereum or Solana But thankfully in January 2023 Casey burst onto the scene with the ordinals protocol and one by one people have been waking up from this lie and realizing that Bitcoin is actually multidimensional and capable of everything you could possibly imagine and more Since then Bitcoin has experienced a renaissance of innovation with a new set of builders picking up where the set of OG builders left off Jeremy Lin | 🔄 DotSwap (On Nexus) from DOTSWAP•DOTSWAP - Official has defied all FUD and delivered a trustless liquidity pool style experience on Bitcoin L1 for Runes with zero MEV Stan from Sats Terminal has built an advanced order routing and aggregation engine for Runes trading on Bitcoin L1 Scott 🟠 from radFi has revived the Runes trenches with a token launchpad on Bitcoin L1 that thousands of people use every day Robin from Liquidium | Bitcoin Loans built a Runes and Ordinals lending protocol that has processed hundreds of millions of dollars of volume which proves that DeFi can thrive on Bitcoin L1 domo and Binari from BRC 2.0 and Tagga from Alkanes have been relentlessly pursing a vision for general purpose smart contracts on Bitcoin L1 TO from Pizza Pets built a fully on-chain multiplayer game directly on Bitcoin L1 Ken Liao from built a Bitcoin wallet for interacting with Bitcoin L1 dapps that is so sleek that it puts Ethereum's flagship wallet MetaMask to shame danny huuep from OnChainMonkey® pioneered a new way to store an entire 10K PFP collection on Bitcoin for only $23 that is now widely adopted by hundreds of other Ordinals collections SergeSats has formed the Bitcoin Art Society to preserve Bitcoin's on-chain culture for future generation has dedicated months of his life to ensuring that once a year there is a place where bitcoin builders can gather to celebrate experimentation on bitcoin at Bitcoin Summit Massive decentralized communities like the $DOG Army and Bitcoin Puppets have rallied together to support all of these innovations and champion the Bitcoin ecosystem Do not ever let anyone tell you that Bitcoin is not capable of something or that you must only use Bitcoin in a certain way The Bitcoin network is more secure and robust longterm when it is winning at developer mindshare and blocks are filled with a diverse set of on-chain activity It is up to us, the Ordinals, Runes, and Bitcoin DeFi ecosystem to be stewards of this technology now so go build the most badass applications possible and never stop fighting for innovation on Bitcoin!
13:29

Debunking the Flat Bitcoin Theory 🧵 In the early days of Bitcoin (2009-2014) there was a massive amount of experimentation and innovation on bitcoin The first NFTs and cryptoart started on Bitcoin The first memecoins started on Bitcoin The first stablecoins and real world assets started on Bitcoin The first dapps started on Bitcoin The first DEX started on Bitcoin The first on-chain governance started on Bitcoin The first crypto degens were playing Satoshi Dice on Bitcoin But then the OP_RETURN wars happened and people like Luke Dashjr vilified innovation and scared builders away resulting in a long period of stagnation (2015-2023) This period of stagnation gave birth to the Flat Bitcoin Theory which infected the minds of nearly everyone The Flat Bitcoin Theory is a belief held by "Flat Bitcoiners" who think that Bitcoin is a boring blockchain that is not capable of the innovative use cases that we see on alt L1s like Ethereum or Solana But thankfully in January 2023 Casey burst onto the scene with the ordinals protocol and one by one people have been waking up from this lie and realizing that Bitcoin is actually multidimensional and capable of everything you could possibly imagine and more Since then Bitcoin has experienced a renaissance of innovation with a new set of builders picking up where the set of OG builders left off Jeremy Lin | 🔄 DotSwap (On Nexus) from DOTSWAP•DOTSWAP - Official has defied all FUD and delivered a trustless liquidity pool style experience on Bitcoin L1 for Runes with zero MEV Stan from Sats Terminal has built an advanced order routing and aggregation engine for Runes trading on Bitcoin L1 Scott 🟠 from radFi has revived the Runes trenches with a token launchpad on Bitcoin L1 that thousands of people use every day Robin from Liquidium | Bitcoin Loans built a Runes and Ordinals lending protocol that has processed hundreds of millions of dollars of volume which proves that DeFi can thrive on Bitcoin L1 domo and Binari from BRC 2.0 and Tagga from Alkanes have been relentlessly pursing a vision for general purpose smart contracts on Bitcoin L1 TO from Pizza Pets built a fully on-chain multiplayer game directly on Bitcoin L1 Ken Liao from built a Bitcoin wallet for interacting with Bitcoin L1 dapps that is so sleek that it puts Ethereum's flagship wallet MetaMask to shame danny huuep from OnChainMonkey® pioneered a new way to store an entire 10K PFP collection on Bitcoin for only $23 that is now widely adopted by hundreds of other Ordinals collections SergeSats has formed the Bitcoin Art Society to preserve Bitcoin's on-chain culture for future generation has dedicated months of his life to ensuring that once a year there is a place where bitcoin builders can gather to celebrate experimentation on bitcoin at Bitcoin Summit Massive decentralized communities like the $DOG Army and Bitcoin Puppets have rallied together to support all of these innovations and champion the Bitcoin ecosystem Do not ever let anyone tell you that Bitcoin is not capable of something or that you must only use Bitcoin in a certain way The Bitcoin network is more secure and robust longterm when it is winning at developer mindshare and blocks are filled with a diverse set of on-chain activity It is up to us, the Ordinals, Runes, and Bitcoin DeFi ecosystem to be stewards of this technology now so go build the most badass applications possible and never stop fighting for innovation on Bitcoin!

Leonidas 🧡 $DOG

62,981 Aufrufe • vor 11 Monaten

Larry Fink’s "Evolution" on Bitcoin Is a Masterclass in Oligarchic Hypocrisy BlackRock CEO & WEF co-chairman Larry Fink just admitted he was "wrong" about Bitcoin. But his confession reveals a chilling worldview. In 2017, he stood with Jamie Dimon, dismissing Bitcoin as the "currency for money launderers and thieves." Today, BlackRock runs the world's largest Bitcoin ETF. What changed? According to Fink, it wasn't a moral awakening; it was a cold, calculated realization of where true power lies in a decaying global system. Here’s what Fink is really saying: - Bitcoin is the "Currency of Fear." He admits people don't buy it out of hope, but out of desperation. They are "frightened of their security" and "frightened of the debasement" of their national currency. He sees the crumbling faith in the very fiat system his institution profits from. - It's a Tool for Bypassing Failed States. He learned of an Afghan woman using Bitcoin to pay female workers under the Taliban. His takeaway? When state-controlled banking becomes an instrument of oppression or collapses, decentralized networks become essential. He’s not celebrating freedom; he’s acknowledging a new, unstoppable geopolitical reality. - He Admits Its Illicit Use Case is Overblown. By highlighting that 20% of Bitcoin ownership is Chinese despite it being illegal, he implicitly concedes its primary use is not crime, but as a safeguard against authoritarian capital controls and economic instability. The Stunning Conclusion: Fink’s journey is the ultimate indictment of the system he helps lead. He now embraces Bitcoin not because he believes in its libertarian ideals, but because he recognizes it as the inevitable "digital gold" for a world losing trust in governments and central banks. BlackRock isn't "believing" in Bitcoin; it's commodifying your fear. They failed to kill it, so now they're seizing it, packaging it into an ETF, and selling your desperation back to you. The man who called it a tool for thieves now runs the world's biggest vault. The "evolution" isn't in Fink's character; it's in his strategy to control the very asset built to escape his control.
2:28

Larry Fink’s "Evolution" on Bitcoin Is a Masterclass in Oligarchic Hypocrisy BlackRock CEO & WEF co-chairman Larry Fink just admitted he was "wrong" about Bitcoin. But his confession reveals a chilling worldview. In 2017, he stood with Jamie Dimon, dismissing Bitcoin as the "currency for money launderers and thieves." Today, BlackRock runs the world's largest Bitcoin ETF. What changed? According to Fink, it wasn't a moral awakening; it was a cold, calculated realization of where true power lies in a decaying global system. Here’s what Fink is really saying: - Bitcoin is the "Currency of Fear." He admits people don't buy it out of hope, but out of desperation. They are "frightened of their security" and "frightened of the debasement" of their national currency. He sees the crumbling faith in the very fiat system his institution profits from. - It's a Tool for Bypassing Failed States. He learned of an Afghan woman using Bitcoin to pay female workers under the Taliban. His takeaway? When state-controlled banking becomes an instrument of oppression or collapses, decentralized networks become essential. He’s not celebrating freedom; he’s acknowledging a new, unstoppable geopolitical reality. - He Admits Its Illicit Use Case is Overblown. By highlighting that 20% of Bitcoin ownership is Chinese despite it being illegal, he implicitly concedes its primary use is not crime, but as a safeguard against authoritarian capital controls and economic instability. The Stunning Conclusion: Fink’s journey is the ultimate indictment of the system he helps lead. He now embraces Bitcoin not because he believes in its libertarian ideals, but because he recognizes it as the inevitable "digital gold" for a world losing trust in governments and central banks. BlackRock isn't "believing" in Bitcoin; it's commodifying your fear. They failed to kill it, so now they're seizing it, packaging it into an ETF, and selling your desperation back to you. The man who called it a tool for thieves now runs the world's biggest vault. The "evolution" isn't in Fink's character; it's in his strategy to control the very asset built to escape his control.

Camus

16,327 Aufrufe • vor 10 Monaten

STRATEGY & BITCOIN CREDIT: THE GREATEST ASYMMETRIC BET This is my attempt to fully explain the massive opportunity with digital credit, starting from first principles by defining money and debt, and then articulating the massive opportunity Strategy has to do something totally unprecedented. We are on the frontier of changing the global financial landscape and a world being rebuilt on Bitcoin. A new monetary operating system. This is the biggest story in all of global finance, and a whole lot larger than worrying about leverage to outperform Bitcoin on a short time horizon. This is about fundamentally rewriting the rules of the capital markets and being first when the information isn't consensus. FEW.
22:00

STRATEGY & BITCOIN CREDIT: THE GREATEST ASYMMETRIC BET This is my attempt to fully explain the massive opportunity with digital credit, starting from first principles by defining money and debt, and then articulating the massive opportunity Strategy has to do something totally unprecedented. We are on the frontier of changing the global financial landscape and a world being rebuilt on Bitcoin. A new monetary operating system. This is the biggest story in all of global finance, and a whole lot larger than worrying about leverage to outperform Bitcoin on a short time horizon. This is about fundamentally rewriting the rules of the capital markets and being first when the information isn't consensus. FEW.

Adam Livingston

173,972 Aufrufe • vor 10 Monaten

It takes a lot of experience to essentially nail every higher and low on #bitcoin for weeks on every timeframe, but the ability to remain objective, and assess the data in-front of you each day makes is possible. In this video I explain exactly how I did it, and what I am looking for next $BTC
17:25

It takes a lot of experience to essentially nail every higher and low on #bitcoin for weeks on every timeframe, but the ability to remain objective, and assess the data in-front of you each day makes is possible. In this video I explain exactly how I did it, and what I am looking for next $BTC

Lucky Chart Ape

12,021 Aufrufe • vor 1 Jahr

On the Dutch television a stock market analyst explains #Bitcoin as an illiquid asset, hence why big players can’t sell & the drop to $90K took place. He also told that one of the biggest holders of Bitcoin is Elon Musk, as he owns ‘blocks’ of Bitcoin and its in their best interest to see Bitcoin succeed. Anno 2024, 15 years after the birth of Bitcoin, there’s still a platform for unknowledged analysts to spread lies about Bitcoin. Imagine what you’re being told about fiat currencies and the financial system.
2:23

On the Dutch television a stock market analyst explains #Bitcoin as an illiquid asset, hence why big players can’t sell & the drop to $90K took place. He also told that one of the biggest holders of Bitcoin is Elon Musk, as he owns ‘blocks’ of Bitcoin and its in their best interest to see Bitcoin succeed. Anno 2024, 15 years after the birth of Bitcoin, there’s still a platform for unknowledged analysts to spread lies about Bitcoin. Imagine what you’re being told about fiat currencies and the financial system.

Michaël van de Poppe

203,217 Aufrufe • vor 1 Jahr

Making Sense Of Strategy What is happening with $MSTR? If you’ve been following me on X for any meaningful length of time, you will know that I have been attempting to calibrate people’s expectations of the stock's performance for the best part of 2025. Here I have synthesised all of my thoughts and distilled them into a single video. If you prefer YouTube, you can watch it here: If you prefer written format, continue reading. The first thing we need to understand is what Strategy is and why people invest in it. Strategy At the highest level, Strategy is leveraged Bitcoin. That’s it. Strategy leverages debt to acquire more Bitcoin. Therefore, the main reason you invest in Strategy is because you want to outperform Bitcoin. The only thing better than Bitcoin is more Bitcoin. The second thing we need to understand is mNAV. mNAV Generally speaking for a pure-play Bitcoin Treasury Company like Strategy, mNAV is a reflection of the market's expectation of future Bitcoin Yield. Bitcoin Yield comes with diminishing returns because each additional Bitcoin purchase contributes less to Bitcoin Per Share. Thus, the larger your Bitcoin stack, the harder it becomes to generate Bitcoin Yield and by extension the harder it becomes to outperform Bitcoin. This is why on a Bitcoin Standard, over a long enough time horizon, mNAV trends towards 1 since the maximum amount of Bitcoin you can own is 21M. With all this in mind, why is Strategy trading where it is and why is it trading at such a low mNAV? There are a few reasons. 1. Strategy Is A Different Company In 2025 Firstly, Strategy is a totally different company in 2025 to the one it was in 2020. For context, believe it or not, the company only introduced Bitcoin Yield and Bitcoin Per Share in the July 2024 Q2 Earnings Call and so it was only after that that they began optimising for those metrics. In my view, that is also when Michael Saylor truly started to understand the opportunity that was in front of him, which is why in October 2024 we saw Strategy announce the 21/21 plan which became the catalyst for the parabolic run we saw in November 2024 where $MSTR went on to briefly hit an all-time-high of around $550. Since people are comparing $MSTR this cycle to the $MSTR of last cycle when it briefly traded at an mNAV of over 8x, it is distorting their expectations. Again, Strategy is a totally different company today with a totally different set of dynamics. 2. New Industry Secondly, we need to recognise that the Bitcoin Treasury Company industry is entirely new which means that the market has been forced to learn and adapt in real-time. With Strategy being the first and by far the largest Bitcoin Treasury Company, it has gained a disproportionate amount of attention and as a result it has attracted a disproportionate amount of speculative capital along the way while everyone has been trying to figure out how to value it. Consequently, in my view, the move we saw in November 2024 was an over-correction to the upside — which by the way coincided with Bitcoin’s parabolic run following Donald Trump’s election win — and what we’re now seeing is an over-correction to the downside. 3. Bitcoin Yield Thirdly, as I mentioned at the beginning, Bitcoin Treasury Companies are currently valued based on how much Bitcoin Yield they are expected to generate in the future. At the time of recording, Strategy currently holds precisely 637,460 Bitcoin — that’s over 3% of the total Bitcoin supply — which means that it is much, much harder to generate meaningful Bitcoin Yield, which again is why we’re seeing the mNAV compress. However, there is a caveat here. There is another metric that Strategy have introduced which is Bitcoin $ Gain. Bitcoin $ Gain is defined as the $ value of newly acquired Bitcoin within any period. Strategy — and I don’t blame them — have been attempting to encourage the market to interpret Bitcoin $ Gain as “earnings” and to value the company based on how much earnings it is expected to generate in the future. For full disclosure, I personally dislike Bitcoin $ Gain as a valuation metric. I think framing it as “earnings” is misleading and disingenuous. I understand why it has been introduced because it speaks the language of Wall Street. However, traditional earnings are final. Bitcoin $ Gain is not because it is forever subject to the price of Bitcoin. Therefore, for Bitcoin $ Gain to be embraced by Wall Street, the market must collectively agree that Bitcoin is going up forever. I remain very sceptical of that happening — especially in the short-to-medium term. However, I am also not attached to my beliefs and so if Wall Street does decide to embrace Bitcoin $ Gain as its primary valuation metric, then $MSTR is likely undervalued by a factor of 5-10x. If not, then $MSTR is likely undervalued by a factor of 1-2x. If you’re not content with the latter being the worst case scenario, then the stock probably isn’t for you. 4. Preferred Products Fourthly, the Strategy thesis right now revolves entirely around the success of its preferred products. Remember, Michael Saylor wants Strategy to become the Amazon of the fixed income market. Thus, we’re not talking about a small innovation here — we are talking about completely transforming global finance. This means that the process of generating awareness and educating the market that will ultimately drive demand for these products is going to take years — not months — which is why you need to have a long time-horizon. Presently, the market is completely discounting the success of Strategy’s preferred products. What it’s not factoring in however is that the capital markets are desperate for yield right now. Thus, when — not if — but when, they eventually wake up to Bitcoin, how do you think they’re going to get that yield? Who is going to be the entity that is offering Bitcoin-backed credit instruments at scale? The answer is obviously Strategy, but again, this is a 5-to-10 year and beyond story. So with all that said, if you’re reading this right now, what should you do? Valuing Strategy There are 3 steps you need to take: 1. Firstly, you need to define your time horizon. In other words, how long do you intend on holding the stock for? 2. Secondly, you need to estimate either — depending on your preferred metric — how much Bitcoin Yield or how much Bitcoin $ Gain you expect Strategy to generate during that period and then calculate how much you expect $MSTR to outperform Bitcoin based on those values. 3. Thirdly, ask yourself whether you’d be satisfied with the level of outperformance you have calculated? In other words, is the trade-off worth it? Or would you be better off investing in either spot Bitcoin, an alternative Bitcoin Treasury Company or a Bitcoin ETF. If you’re satisfied with the level of outperformance that you’ve calculated, then $MSTR it probably a good choice of investment for you. If you're not satisfied, then $MSTR is probably a bad choice of investment for you. I personally believe that $MSTR will outperform Bitcoin by a minimum factor of 1-2x over the next 5/10 years and potentially much more if Bitcoin $ Gain becomes the primary metric by which it is valued, but again, I remain sceptical of that happening. Regardless, the best is yet to come.
11:54

Making Sense Of Strategy What is happening with $MSTR? If you’ve been following me on X for any meaningful length of time, you will know that I have been attempting to calibrate people’s expectations of the stock's performance for the best part of 2025. Here I have synthesised all of my thoughts and distilled them into a single video. If you prefer YouTube, you can watch it here: If you prefer written format, continue reading. The first thing we need to understand is what Strategy is and why people invest in it. Strategy At the highest level, Strategy is leveraged Bitcoin. That’s it. Strategy leverages debt to acquire more Bitcoin. Therefore, the main reason you invest in Strategy is because you want to outperform Bitcoin. The only thing better than Bitcoin is more Bitcoin. The second thing we need to understand is mNAV. mNAV Generally speaking for a pure-play Bitcoin Treasury Company like Strategy, mNAV is a reflection of the market's expectation of future Bitcoin Yield. Bitcoin Yield comes with diminishing returns because each additional Bitcoin purchase contributes less to Bitcoin Per Share. Thus, the larger your Bitcoin stack, the harder it becomes to generate Bitcoin Yield and by extension the harder it becomes to outperform Bitcoin. This is why on a Bitcoin Standard, over a long enough time horizon, mNAV trends towards 1 since the maximum amount of Bitcoin you can own is 21M. With all this in mind, why is Strategy trading where it is and why is it trading at such a low mNAV? There are a few reasons. 1. Strategy Is A Different Company In 2025 Firstly, Strategy is a totally different company in 2025 to the one it was in 2020. For context, believe it or not, the company only introduced Bitcoin Yield and Bitcoin Per Share in the July 2024 Q2 Earnings Call and so it was only after that that they began optimising for those metrics. In my view, that is also when Michael Saylor truly started to understand the opportunity that was in front of him, which is why in October 2024 we saw Strategy announce the 21/21 plan which became the catalyst for the parabolic run we saw in November 2024 where $MSTR went on to briefly hit an all-time-high of around $550. Since people are comparing $MSTR this cycle to the $MSTR of last cycle when it briefly traded at an mNAV of over 8x, it is distorting their expectations. Again, Strategy is a totally different company today with a totally different set of dynamics. 2. New Industry Secondly, we need to recognise that the Bitcoin Treasury Company industry is entirely new which means that the market has been forced to learn and adapt in real-time. With Strategy being the first and by far the largest Bitcoin Treasury Company, it has gained a disproportionate amount of attention and as a result it has attracted a disproportionate amount of speculative capital along the way while everyone has been trying to figure out how to value it. Consequently, in my view, the move we saw in November 2024 was an over-correction to the upside — which by the way coincided with Bitcoin’s parabolic run following Donald Trump’s election win — and what we’re now seeing is an over-correction to the downside. 3. Bitcoin Yield Thirdly, as I mentioned at the beginning, Bitcoin Treasury Companies are currently valued based on how much Bitcoin Yield they are expected to generate in the future. At the time of recording, Strategy currently holds precisely 637,460 Bitcoin — that’s over 3% of the total Bitcoin supply — which means that it is much, much harder to generate meaningful Bitcoin Yield, which again is why we’re seeing the mNAV compress. However, there is a caveat here. There is another metric that Strategy have introduced which is Bitcoin $ Gain. Bitcoin $ Gain is defined as the $ value of newly acquired Bitcoin within any period. Strategy — and I don’t blame them — have been attempting to encourage the market to interpret Bitcoin $ Gain as “earnings” and to value the company based on how much earnings it is expected to generate in the future. For full disclosure, I personally dislike Bitcoin $ Gain as a valuation metric. I think framing it as “earnings” is misleading and disingenuous. I understand why it has been introduced because it speaks the language of Wall Street. However, traditional earnings are final. Bitcoin $ Gain is not because it is forever subject to the price of Bitcoin. Therefore, for Bitcoin $ Gain to be embraced by Wall Street, the market must collectively agree that Bitcoin is going up forever. I remain very sceptical of that happening — especially in the short-to-medium term. However, I am also not attached to my beliefs and so if Wall Street does decide to embrace Bitcoin $ Gain as its primary valuation metric, then $MSTR is likely undervalued by a factor of 5-10x. If not, then $MSTR is likely undervalued by a factor of 1-2x. If you’re not content with the latter being the worst case scenario, then the stock probably isn’t for you. 4. Preferred Products Fourthly, the Strategy thesis right now revolves entirely around the success of its preferred products. Remember, Michael Saylor wants Strategy to become the Amazon of the fixed income market. Thus, we’re not talking about a small innovation here — we are talking about completely transforming global finance. This means that the process of generating awareness and educating the market that will ultimately drive demand for these products is going to take years — not months — which is why you need to have a long time-horizon. Presently, the market is completely discounting the success of Strategy’s preferred products. What it’s not factoring in however is that the capital markets are desperate for yield right now. Thus, when — not if — but when, they eventually wake up to Bitcoin, how do you think they’re going to get that yield? Who is going to be the entity that is offering Bitcoin-backed credit instruments at scale? The answer is obviously Strategy, but again, this is a 5-to-10 year and beyond story. So with all that said, if you’re reading this right now, what should you do? Valuing Strategy There are 3 steps you need to take: 1. Firstly, you need to define your time horizon. In other words, how long do you intend on holding the stock for? 2. Secondly, you need to estimate either — depending on your preferred metric — how much Bitcoin Yield or how much Bitcoin $ Gain you expect Strategy to generate during that period and then calculate how much you expect $MSTR to outperform Bitcoin based on those values. 3. Thirdly, ask yourself whether you’d be satisfied with the level of outperformance you have calculated? In other words, is the trade-off worth it? Or would you be better off investing in either spot Bitcoin, an alternative Bitcoin Treasury Company or a Bitcoin ETF. If you’re satisfied with the level of outperformance that you’ve calculated, then $MSTR it probably a good choice of investment for you. If you're not satisfied, then $MSTR is probably a bad choice of investment for you. I personally believe that $MSTR will outperform Bitcoin by a minimum factor of 1-2x over the next 5/10 years and potentially much more if Bitcoin $ Gain becomes the primary metric by which it is valued, but again, I remain sceptical of that happening. Regardless, the best is yet to come.

Chris Millas

36,835 Aufrufe • vor 11 Monaten