/biz/ - Business & Finance

I read & watched more about it it became my 3rd largest holding after BTC and ETH. Overnight. Free fucking money

I get it. No takers. The current price is like $1.8. Guess I'll screencap this for when it's $30 so I can say I told you guys

>>57550093
I'm already balls deep in this project. I tried to shill it to others last year but people faded it. I'm almost at my target stack of 500,000 stx so its good to see others spreading the word now. My bags are ultra packed

>>57550093
Hello Mr researcher. Did you even know these are the fags who launched Miami coin? They literally pivot cycle after cycle. They're failures and you're the latest sucker.

>>57550177
Jesus that's fucking based. I wish I had come across this sooner. It's the fucking ticket

>>57550182
How did they launch it? That's like saying ETH launched shib

>>57550185
Yep. Its the only coin I own that I plan on never selling. As long as PoX continues working and BTC just keeps streams into my wallet there is no reason to ever get rid of it.

>>57550211
Figure it out newfag. I'm saving you a lot of money right now

>>57550224
How does that work? I'm hesitant about it. it reminds me of ridiculous compounding gains ponzis from 2021. Where does the money come from?

>>57550093
it's not actually an L2 on BTC. People who think that are literal brainlets. They inscribe data on BTC as snapshots of the state of the Stacks chain. That's it. Anyone can do that.

>>57550275
I appreciate the FUD but all I can find is patrick stanley who isn't involved with stacks anymore but was the "head of growth"
>>57550306
Who else is doing it? Is anyone doing it better?

>>57550286
PoX stands for proof of transfer. Stacks miners compete to mine blocks by submitting bids using native BTC to earn the right to order stacks transactions and claim the coinbase. Their probability of winning is dependent on how much BTC they bid. The people who receive those BTC payments are the stackers who lock up their stacks similar to staking and will essentially be the arbiters of what the true stacks chain is. Those transactions also include cryptographic data that links BTC and the Stacks blockchains together. This is dramatically improved with the upcoming Nakamoto update which will also have much faster speeds (~5s blocks) vs current btc block timing (10 min per block).

TL;DR miners want to win the 1000 STX coinbase every block and fees from the stacks chain and send an amount of BTC they think that's worth as payment to stackers in order to claim that STX.

>>57550352
Thanks for the spoonfeed. It's interesting. But I guess I'll just have to kill myself. I only have about 3000 stacks. If you really have almost 500k why would you even buy more dude? This is going to x20 if it takes off. Though I guess you're in profits bigly so you can afford to add more.

>>57550306
It doesn't need to fit the technical definition of an L2 to be useful in a very similar manner to 99% of users.

Especially after sBTC launches there will be 3 different varieties of tokenized BTC that end users can pick from for moving their BTC over to Stacks and they can choose the tradeoffs they are comfortable with.

Is it as secure as BTC itself? No.
Is it secure enough to be useful in smart contracts and defi? Yes.
Do most users even care about this definition of an L2? No.

>>57550382
Just keep stacking man. You'll build up. I was working in big tech and dumping full paychecks into this when no one believed in it. People still underestimate it so much, so there's still time to get more

>>57550403
>People still underestimate it so much
Given the price action and lack of youtube moonboy vids I tend to agree.

One thing I wonder about is, 5 seconds is still a lot slower than some run of the mill platforms like MATIC/SOL etc. Then again, will it matter? Considering the value of BTC... It's just an insane proposal so I understand your bullishness

>>57550427
Yeah, 5 seconds is such an astronomical improvement from the previous 10 minutes that it's plenty fast for most use cases. It's differentiator is always going to be the link to btc, not its speed vs Solana etc.

I mean think about it, do you really care if your loan takes 5 seconds to be issued vs 1 sec or even less than a second? What matters to me is that it's fast enough to not be annoying but also just works well with my preferred money (BTC) and is trustworthy.

>>57550465
>It's differentiator is always going to be the link to btc, not its speed vs Solana etc.
Yeah, same thoughts here...
Finally, since you worked in tech, I'm really curious about your opinion why it took so long for something like this to happen for Bitcoin. Defi has been around for a while. Is it technically difficult to achieve this on BTC? During my research I only came across a very small amount of "L2"s for Bitcoin (e.g. Rootstock) that compete with STX

In any case thanks for dropping info chad

>>57550511
Stacks kinda screwed itself over by doing things by the book with the SEC for its token ICO. The upside was its transparent to investors and it has low legal risk in the USA now, but the downside is I believe it slowed down it's actual creation and it missed valuable mindshare in the early days.

It's also been around since 2013, but the design has also gone through a few different iterations. It wasn't really finalized in its current form until 2020.

It's definitely harder to build on top of bitcoin without making changes to bitcoin itself (op codes, soft forks, etc.). Stacks had a plan to make a layer for BTC that does not need to change the base layer to avoid the problem of being at odds with base layer immutability. That kind of design takes time so it's why it seems late to market.

Now that it's here hard-core bitcoiners still yell at us for not passing purity tests, but their influence has gone down over time so people are more open minded to it these days too.

>>57550550
So they're the 0.001% who tried to do everything right and this sBTC thing is hopefully finally happening. Volume has increased by a ton. Pretty bullish. Anon I think you're going to be rich as fuck. Thanks again for the value effortposts

>>57550550
>>57550719
Good thread, will pick up a bag. What else do you guys hold?

>>57550738
I'm just a midwit but here are my holdings in terms of size.

BTC ETH SOL/STX SEI MATIC (leftovers) SUI MANTA RENDR

Priced out of INJ