Nostr Web Client

A few thoughts on the run this morning:

1) We don't need blackrock.

2) Allow me to ramble and make no sense for a second:

I don't pretend to understand the "VC" world, but in many cases, if not all, the payout is on the sale of the venture to a bigger entity. Many of the #bitcoin startups are learning on the fly how to monetize a product built on top of FOSS.

This isn't a new problem, of course. Monetization and the need to pay our builders to ensure we recruit the best and brightest minds to the bitcoin ecosystem isn't easy.

Most of the builders are here because they believe in the mission, not a desire to make more fiat. Despite this, we need to continue to recruit the world's best.

Builders should consider, if they plan to sell, to pay out investors...who is the buyer?

For instance, if apple or microsoft wanted to get in the game, they could buy the entire mutiny team and product line, perhaps they could buy coinkite, etc.

I became worried about who the builders will sell to? Is it a team of people who care about the mission of bitcoin?

Its hard to blame people for taking the money when it would secure their family for generations.

***I only single out mutiny and coinkite b/c they are two of the teams/companys I am happy are in the space and building.***

Let us not lose site of the goal: open, permisionless, censorship resistant, decentralized money not issued by the state (or central authority who can debase the currency or use money as a system of control and surveillance).

3) Technologists sometimes view tech as "good" or "bad" based on how many features they can pack into a product. But it is okay for money to be boring. Sometimes, the end product doesn't reflect the mission or goal of the development team.

4) Thanks to all of the people who are building on bitcoin. I am in your debt.

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Discussion

Ralphy 2y ago

At the end of the day, very few people would turn down obscene amounts of wealth in order to “not sell out” to the establishment. I’m sure there is a number at which even someone who seems very mission oriented (like the coinkite folks) would sell to a larger company like ledger or coin base or google/apple.

It’s why I’m excited about projects like seedsigner

hongumart 2y ago

🙏

GigaBTC 🌽⚡️🔑 2y ago

I think it depends on timing. I have been a co-founder of a startup and stayed until we listed. Had it been a #Bitcoin focused startup, the timeline for the “exit” could have been longer. In Fiat land, it’s typically 3-5 years to list, get acquired, etc.

With Bitcoin, if you are committed to the mission and over time the fiat value is going up, you can sell enough to cover your expenses and keep building.

I am hopeful that we have enough true believers who will keep building until the fiat value hits the point of no return. Once hyperbitcoinization happens, it won’t matter if they will be tempted by a Lamborghini or whatever, because they will be able to have that without selling the company.

TGD-BTC 2y ago

I'm starting to agree with the "we don't need the etf"

I fear that if we do, the govt and Blackrock could just use it to surveil us further. Great read.