muneeb.btc Profile picture
14 Jan, 13 tweets, 4 min read
Stacks turns one year old today!

With my party hat on, let’s reflect on the year. Tweet thread👇
1/ The Stacks whitepaper came out in 2017 outlining design for Bitcoin apps.

It typically takes 2-3 years to build new blockchains. Projects that raised in the 2017 era (Filecoin, Dfinity, Stacks, etc.) went heads down and launched their mainnets in 2020-2021.
2/ Stacks brought a new type of PoX mining and consensus to life. PoX is a cross-chain consensus between Bitcoin and Stacks and recycles PoW energy.

Connecting chains to BTC to add new features is an idea that goes back to Satoshi in 2010. Stacks turned this idea into reality!
3/ It was unclear if the consensus and game theory would work in practice. Given the decentralized nature, there was no “soft launch”.

Designing blockchains is like launching rockets; you get one shot. Seeing everything work flawlessly was both exciting and a relief. It worked!
4/ Earning BTC was a completely new concept introduced by Stacks. More than $1B got locked in the contract, and people earned 1201 BTC ($51M today).

The PoX contract put Bitcoin DeFi on the map and is now the largest product in the category.
5/ The mainnet launch introduced Clarity, a new language that focuses on safety. Clarity is decidable, and developers like it for safety features.

We saw 10x growth in deployed contracts in H2 of 2021. See the inflection point after summer:
6/ Bitcoin DeFi apps came online.

This includes @ArkadikoFinance @alexgoBtc @Stackswap_BTC & others.

The ecosystem map below captures the Cambrian explosion of apps:
7/ We saw a revived interest in Bitcoin NFTs through Stacks. NFTs started on Bitcoin but got popularized by ETH.

Now NFTs are coming back home!

140,000+ minted NFTs, 7+ marketplaces, and trading volumes going into tens of millions. This is just the beginning in many ways.
8/ The .btc domains didn’t exist until recently. We saw 23,000+ registrations and an active community of .btc folks.

Whenever you see a .btc name, you know that it’s a friendly Bitcoiner rooting for Bitcoin apps.

I love this community: ₿ + Ӿ = 🔥
9/ There are always new, unthinkable things. Citycoins is one such project.

We saw the community-driven, mining-only launch for Miami and NYC. Mayor @FrancisSuarez made history by officially voting to accept the protocol treasury and by giving BTC rewards to Miami citizens.
10/ The API by Hiro Systems, a dev tooling company in the ecosystem, saw a 6x increase recently: 50M → 100M → 200M → 350M monthly requests.

We saw infrastructure and tooling improve with 120+ monthly active devs.

Stacks emerged as the fastest-growing web3 project in Bitcoin.
11/ Everything that happened within the first year of Stacks mainnet launch is hard to capture in a tweet thread.

2021 laid the foundations.
2022 is the year of growth.

Cheers to unleashing the true potential of Bitcoin: happy birthday, Stacks! 🎉
P.S: Hiro Systems made this quick website capturing the year:

• • •

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

Keep Current with muneeb.btc

muneeb.btc Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!


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

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @muneeb

6 Jan
I'm a Bitcoin Centrist.

Bitcoiners don't like labels, but we need a term differentiating from Bitcoin maximalists. Call it progressives, centrists, moderates, or simply Bitcoiners, but we need to distinguish ourselves from the loud maximalists. 🧵
1/ Bitcoin will attract people with different beliefs and views, and we shouldn't expect all Bitcoiners to think alike. It is, however, essential to realize that maximalists are a loud minority.

Let's look at some ways maximalists differ from centrists like me.
2/ A Bitcoin centrist likes Bitcoin as sound money but is open to other assets.

A Bitcoin maximalist hates all non-Bitcoin crypto assets (extreme view).
Read 13 tweets
23 Dec 21
Bitcoin maxi paradoxes:

- Love decentralization yet use centralized exchanges (no DEX for BTC).

- Love free markets yet hate venture capitalists (free market actors).

- Love open-source yet hate an entire revolution of new open-source apps.
- Love freedom to do what you want but don’t work on non-Bitcoin things please.

- Love freedom of speech but will censor devs from Bitcoin podcasts.

- Love Bitcoin as best money but only hold as passive asset please.

- Love truth-seeking but create thought bubbles to live in.
I love Bitcoin, am long BTC & have worked in the Bitcoin ecosystem for years. I have several friends who are on the maximalist side, but oh man, the discourse is rapidly getting worse!

Where is the open-minded, freedom-loving, intellectually curious community of 6-7 years ago?
Read 5 tweets
21 Dec 21
The people will own web3.

VCs have reduced power and ownership in crypto protocols. Tweet thread👇
1/ Founders, VCs, and employees primarily owned web2 companies. The general public couldn’t participate in any economic upside for the first 10+ years.
2/ Web3 protocols are different. These are not companies.

These protocols can launch through mining-only (e.g., Bitcoin, CityCoins), regulated public offerings (e.g., Stacks), Reg S, and Reg CF (e.g., on platforms like CoinList and Republic).
Read 12 tweets
6 Dec 21
Bitcoin maximalism is limiting the growth of Bitcoin.

Retweet for visibility if you agree.

Tweet thread👇
1/ Bitcoin maximalism as a strategy for growing Bitcoin is failing.

The maximalist narrative has lost touch with reality. I say this as a Bitcoiner who started in 2013. I’ve held BTC through multiple bear markets & spent years building apps & protocols on Bitcoin.
2/ Bitcoin maximalism assumes a zero-sum world. However, we’re in an expanding crypto economy.

Attacking developers and new use-cases doesn’t help Bitcoin. It only encourages those developers and use-cases to move to other ecosystems like Ethereum and Solana.
Read 13 tweets
11 Nov 21
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).
2/ The bullish case for Bitcoin as sound money is already well explored.

I recommend people to read this excellent article by @real_vijay:…
Read 10 tweets
29 Oct 21
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

Did Thread Reader help you today?

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

Or Donate anonymously using crypto!


0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy


3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!