Red

@redvelvet

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72 Followers

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-BTC (the asset) has a larger community than Bitcoin (the network). Metaprotocols and other layers will flip this over the next 210,000 blocks -After that, BTC.D will rise as liquidity, narratives, and entire sectors migrate from crypto to Bitcoin (layers). Crypto was the testnet happy halving

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Fifth Epoch Forecast Bitcoin programmability is the name of the game for Epoch Five. It will be defined by community rebalancing and liquidity rebundling

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ok I'm convinced, I'll start running Ord alongside my Bitcoin node

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let this man cook

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Dove into Bitcoin layers in the latest Messari quarterly Check out the Layer Analysis section https://messari.io/report/state-of-bitcoin-q1-2024

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State of Bitcoin Q1 2024 Get up to speed on Ordinals, network activity, ETFs, layers, and more https://messari.io/report/state-of-bitcoin-q1-2024

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Here's a neat idea for storing arbitrary data in blocks through tx ordering A formalized metaprotocol could become more accessible with the rise of hashrate marketplaces (eg Lumerin) and private mempool as a service products (eg marathon's slipstream) https://twitter.com/salvatoshi/status/1772619501370036477

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are you bullish on tradfi asset issuers eg blackrock tokenizing things themself or do you think RWAs can be better run by crypto native orgs that take other's assets and go tokenize them onchain (ie act as a custodian) option 2 gives you dedicated focus (they only care about crypto) but another trust assumption

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2 weeks ago I tried an experiment in bounty based research. Could a $1k @bountycaster bounty successfully solve a research question? TL;DR: Bounty-based research worked pretty well!

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BitVM 2 looking super cool. Unlike the first model, this one supports permissionless verification of proofs Looking fwd to seeing some implementations of the concept

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Stay tuned for analyses on live layers to launch Stacks, Core, Lightning, and more will be reviewed and available soon!

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We launched bitcoinlayers.org , an open-source tool for keeping up with the many Layers being built and analyzing their risks and security assumptions

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There are many projects that identify as Bitcoin Layers. We analyze them against the five different criteria pictured below:

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Without enforcement of tx validity, your btc is only safe when static Safety in motion (collateralizing stables, lending, DeFi, yield etc etc) comes from enforceable proofs posted to L1 with bitcoin’s level of security. This part is not as clear today as the bridging part is

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Once we can activate the hundreds of billions of $ worth of BTC, which is currently underutilized We have activated the need for layers It is at this point that tx validity becomes important. We’ve ‘safely’ moved btc to a new execution environment (safe enough) So now we must make sure our actions are safe

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Risk is not a binary yes/no, it’s a spectrum At some point, a bridge design will cross the arbitrary threshold that is safe enough, and boom we get a liquidity avalanche. There’s a reason so few btc are locked in wbtc or other bridges, we aren’t there yet. Tbtc, sbtc, and bitvm are promising steps towards it

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At the risk of being reductive, there are only two areas to focus on for Bitcoin layers to be realized 1. A ‘safe enough’ BTC bridge 2. Tx validity enforcement And 2 doesn’t reallyyy matter until we have 1

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New desoc @drakula 👀

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Chainway opensourced their BitVM zk verifier woop woop https://github.com/chainwayxyz/bitvm-zk-verifier

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