Damus
Lyn Alden profile picture
Lyn Alden
@LynAlden
Muneeb from Stacks says that Bitcoin ecosystem development is lacking.
https://twitter.com/muneeb/status/1631672600085577729

Obviously this contrasts with the fact that, during the recent episode of Bitcoin Review with NVK and others, they had to go long for the episode and also had to cut out a lot of content due to too much bitcoin ecosystem development happening to cover it all. And with my work at ego death capital, we have no shortage of new bitcoin development to invest in; it's merely a matter of prioritization.

I met Muneeb at Princeton back in November when Princeton launched their new center for decentralized tech and power, which does have some serious bitcoiners in the mix amid the altcoin noise. And I might meet these folks again in upcoming Princeton events, since I'm based near them in NJ and want to keep a bitcoiner perspective there. They have some good people involved.

If you had questions or discussion points for Muneeb, what would you ask or bring up (kindly)?

My impression is that the Stacks ecosystem is too focused on financialization platforms, similar to the altcoin ecosystems. It's all about financial leveraging, NFTs, etc. In other words, rails on which fiat currency operates. Whereas there is massive development in bitcoin being better money at the root layer, which doesn't necessarily vibe with their ecosystem. Throwing shade at that, or ignoring that, seems disingenuous.

For me, the best development is about wallets, infrastructure, and protocols that make bitcoin easier to use as global root layer money from a payments and savings perspective, and more censorship-resistant in general. Often, it's the small details that matter. This includes lightning, nostr, fedimint, certain sidechains, etc. Anything else is secondary.
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DETERMINISTIC OPTIMISM 🌞 · 162w
Muneeb and crew know exactly how to affinity scam bitcoin.
someone · 162w
Ego death capital 😹💟
Peepal · 162w
They must not know about zaps
Nyoro~n · 161w
In a post-segwit world they chose to mint tokens instead of writing software 😤 Affinity scammers, wouldn't waste time with them
Mysth · 161w
Really nothing to ask, you said it all. They’re just recreating the shitcoin casino through Bitcoin affinity scams. Whatever they do on BTC can be done anywhere, not interesting.
someone · 161w
Finance on a volatile thing is pretty much a casino
grolsch · 161w
This whole push for Stacks recently, feels like a "me too" riding in the back of Ordinals popularity. They throw flowers at BTC in general and then push the narrative that, it lacks x or y that (no wonder) Stacks brings to the table.
Stackcoon ⚡️ · 161w
I think that most important point is, that they approach the general topic with a mindset, which is underset by fiat principles. To overcome this is, is/was even hard for a BTC maximalist. And second i always feel that to fully understand Bitcoin, you have to be a generalist, not just a specialist...
lucash.dev · 161w
Spent weeks studying the Stacks code base. I wouldn’t put any money in there. Tbf that’s not different from most projects I study — I hunt and report bugs for a living so I tend to focus on things that I think have issues or are broken. On the other hand there’s basically no money in hunt...
Ryan · 161w
I have a sincere question related to the economics of Stacks: Proof of transfer is a neat idea for transferring Bitcoin to a sidechain that is not federated, and also not burning it. In order to mint STX, the miners must transfer bitcoin to some kind of contract in exchange for the opportunity to m...
siim · 161w
Ask him if Stacks has zaps
🐢 · 161w
While the stacks ecosystem is surely an interesting topic, Id like to dig into the mining mechanism he calls proof of transfer. To me the ecosystem is secondary to the creation of the blockchain, and the “mining”’of said blockchain seems suspiciously similar to a proof of stake methodology. ...
David Rassiner · 161w
It seems like Muneeb is ignoring or not paying attention to the use cases for 3rd world countries. Instead he is focusing on 1st world problems. Nothing wrong with that but that does leave out a major bucket. For me bitcoin/lightning development can be split in two major buckets (1) Solving for 1...
techjunkie · 161w
🚨🚨🚨 huge scammer alert. Stay far away from this person.
Tarik Sammour · 161w
I dont think his intentions are genuine. Ask him why STX token is necessary and if this is distracts from the main Bitcoin use case and philosophy.
nostrich · 161w
Absolute scam. If you haven’t read this thread, please do— https://twitter.com/coryklippsten/status/1587186802145861633
👁️⃤.sats / Hobo.sats · 161w
With all the BTC development happening over the last few years, honestly it's been surprising how little it has impacted BTC. A. That's a testament to how far along BTC already was, but also B. As we see by Ordinals/inscriptions, there are other use-cases which require very little actual developme...
Faraz · 161w
I would ask him why / how Stacks will attract the best devs over Bitcoin/Lightning?
Neo 13%⚡️ · 161w
Muneeb reminds me of Charles from Cardano. They want to rule, not abide by rules. I guess too late for them to pivot and focus on what matters…
Samee · 161w
Notice how none of these guys promote NOSTR? Could have anything to do with the fact that there’s no 💩 coin to pump and no cross financial play (NFT) to co opt?
NachoDacal.btc · 161w
In my humble opinion muneeb is a truly genious and I will love to meet him one day. The best way to make a great ecosystem is thru enhance more opportunities for devs to build all amazing shit that we love and have crazy ideas like stacks foundation for sure will empower bitcoin ecosystem
CryptoSpastic · 161w
I thought the focus of stacks was block solve distribution while maintaining PoW?
Ortiz · 161w
Spot on, Lyn. The key barrier to universal BTC adoption is the lack of technology for "non-freak" self-custody that is inheritance friendly. There is great technology for the tech-savvy but the masses require something far simpler. The development in this area is far more important than anything els...