Tweet

muneeb.btc

11 Nov, 10 tweets, 2 min read

The bullish case for Bitcoin: beyond sound money.

Tweet thread👇

1/ Bitcoin found product-market fit as decentralized sound money.

People are already using it as an inflation hedge.

Estimates for future Bitcoin value range from $10 trillion (gold market cap) to $100+ trillion (subset of global wealth).

@real_vijay

2/ The bullish case for Bitcoin as sound money is already well explored.

I recommend people to read this excellent article by @real_vijay:
vijayboyapati.medium.com/the-bullish-ca…

3/ The value capture by Bitcoin can go beyond sound money.

Specifically, Bitcoin as a global settlement layer can make Bitcoin block space extremely valuable in the future.

4/ Decentralization of Trust is the most significant opportunity for value creation since the internet.

The internet transformed Information Access. Bitcoin transforms Trust.

5/Trust has obvious value: not just money but other assets, identity, reputation, and trade depend on it.

Decentralization of Trust enables new apps and business models across several industries.

6/ Bitcoin is the best settlement layer for applications: Bitcoin provides the most secure and grassroots Decentralized Trust.

Apps utilizing the decentralization properties of Bitcoin will be more valuable, which in turn makes Bitcoin more valuable, and a network effect starts.

7/ If you factor in the settlement layer value capture, then the $10 trillion estimates start to look conservative.

What is the value of global real estate tokenization? Settlement layer for global trade? Future derivatives markets? The list goes on.

8/ The bullish case for Bitcoin as sound money is well understood. The bullish case for Bitcoin as a settlement layer is at the early stages.

If you’re bullish on Bitcoin just as sound money, then you’re not bullish enough.

P.S: The news out of Miami today of BTC yield to residents is an example of such settlement layer use cases where new apps grow the Bitcoin economy.

• • •

Missing some Tweet in this thread? You can try to force a refresh

This Thread may be Removed Anytime!

Twitter may remove this content at anytime! Save it as PDF for later use!

More from @muneeb

muneeb.btc

@muneeb

29 Oct

Bitcoin NFTs represent Bitcoin culture.

This is a powerful emerging trend.

Tweet thread👇

1/ Humans are social animals. We thrive in communities.

Every community has its own culture represented in stories, art, symbols, and values.

2/ Digital communities have their shared culture going beyond physical borders.

In an increasingly digital world, digital communities become increasingly more important than geographic ones.

Read 13 tweets

muneeb.btc

@muneeb

24 Oct

@adam3us

I've been politely responding to criticism from @adam3us @notgrubles for weeks.

It's time to set the record straight RE Liquid vs. Stacks.

Please retweet to help educate people.

Tweet thread👇

1/ First of all, I highly respect the contributions of Adam Back and Grubles. We can disagree on some topics, but that does not take away my respect for them.

Let's dive into their criticism of Stacks and how it compares to the work they prefer: Liquid.

2/ Liquid is a federated (closed) network where you trust a handful of signers to operate the network and secure your LBTC (a Bitcoin-derived asset).

Liquid has no connection to Bitcoin other than using LBTC, i.e., no connection for consensus, smart contracts, security, etc.

Read 17 tweets

muneeb.btc

@muneeb

24 Aug

Decentralized lottery game on Bitcoin.

How can this work? Tweet thread👇

1/ Satoshi Dice showed in 2012 how popular Bitcoin-based betting games could get.

Now with smart contracts for Bitcoin, developers can build much more sophisticated games. Let’s walk through a Powerball-like game.

2/ First, I’m not a lawyer, and any developer building such lottery games should consider appropriate laws in local jurisdictions.

I’m interested in the technical design and possibilities.

Putting the legal disclaimer aside, let’s dive in!

Read 8 tweets

muneeb.btc

@muneeb

19 Aug

The opportunity window for starting new layer-1 blockchains was in 2017-2018.

Some thoughts on the L1 landscape👇

1/ First, let’s separate Bitcoin (sound money) from smart contract platforms.

New money layers (e.g., Bitcoin forks) have failed miserably.

Bitcoin is the clear winner for sovereign money (with recent attempts from Ethereum to compete there.)

2/ Smart contract platforms, however, remain a rapidly growing and competitive market.

The opportunity window for starting new L1 blockchains for smart contracts was in 2017-2018. These platforms typically require 2-3 years of development before mainnet launch.

Read 10 tweets

muneeb.btc

@muneeb

2 Aug

@FrancisSuarez

City governments can embrace Bitcoin and crypto faster than nations.

Miami Mayor @FrancisSuarez is experimenting with crypto to give Miami a Bitcoin-yielding treasury.

A thread on cities and crypto👇

1/ There are at least two ways city governments can embrace crypto:

(a) cities can put Bitcoin on their balance sheet, and

(b) they can issue a "governance token" to engage their citizens.

@michael_saylor

2/ Cities like NYC run on billions of dollars. Like public companies, city governments can also diversify their cash balances into Bitcoin.

@michael_saylor wrote the book for Bitcoin corporate treasuries; forward-looking mayors like Suarez might write a similar book for cities.

Read 9 tweets

muneeb.btc

@muneeb

30 Jul

“When everyone zigs, Stacks zags.”
— Nick Grossman, USV

The popular opinion in crypto is that proof-of-stake is the future. Stacks recycles Bitcoin’s PoW and avoids PoS.

Why do we prefer PoW? Tweet thread👇

1/ First of all, intelligent people I respect, e.g., Silvio Micali (Algorand), are working on proof-of-stake, so clearly, I think it’s a design space worth exploring.

Given that enough smart people are already exploring PoS, I’m more interested in researching other designs.

2/ I don’t like slashing conditions in PoS. An event like a network partition (however rare that might be) can slash funds of honest nodes.

That’s why in Stacks, we had a design requirement not to have any slashing conditions.

Read 8 tweets

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Thank you for your support!