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The Bitcoin market has its way of separating true believers from tourists.

6/ Bitcoin doesn’t change, but the additional layers can. Sovereign money should be durable and immutable (Bitcoin base layer), but you can build new features on top (additional layers like Lightning, RSK, Stacks). Bitcoin is not a rock; it’s programmable sovereign money.

5/ More environment-friendly transactions are possible on Bitcoin. The base layer maximizes decentralization and independent verification through proof-of-work. Additional layers like Lightning or Stacks don’t consume any PoW energy for transactions.

4/ Bitcoin’s base layer optimizes for decentralization and durability. The only metric that matters for sovereign money is decentralization. The only metric that matters for a settlement layer is durability. Bitcoin maximizes both. Experiments happen at additional layers.

3/ Transaction speeds are different from finality. Lightning transactions can be fast. Microblocks on Stacks can be fast. It’s the finality on Bitcoin that takes longer, as it should.

2/ Bitcoin is for settlements, not payments. The additional layers, like Lightning or Stacks, is where payments happen. On Lightning, people use sats, and on Stacks, people can use stablecoins like xUSD or Bitcoin-based assets like xBTC.

1/ People don’t think beyond the Bitcoin base layer. L2s in Ethereum or subnets in Avalanche bring additional features to base layers.  Similarly, Bitcoin layers, like Lightning for payments or RSK/Stacks for smart contracts, bring additional functionality to Bitcoin.

Bitcoin is often misunderstood within the crypto industry. Here is how: Tweet thread

Some crypto projects want to replace Bitcoin with something “better.” What they don’t realize is that without Bitcoin there is no crypto industry. If Bitcoin falls, everything else follows.

There is a decentralization trade-off for the speed/size metrics Elon listed. Decentralization is the only thing that matters for a sovereign currency.

You can run a database to do all this. Bitcoin is for true decentralization.https://twitter.com/elonmusk/status/1393738154889338884 …

New oracles for Bitcoin DeFi. Tintash is developing Chainlink oracles for Stacks, smart contracts for Bitcoin. Chainlink post: https://blog.chain.link/tintash-receives-co-sponsored-grant-to-integrate-chainlink-on-stacks/ …

For the folks trying to calculate the carbon footprint of Bitcoin transactions, try adding settlements to your model. BTC transactions can settle thousands of Lightning or Stacks transactions. Your per transaction footprint just became a lot greener. You’re welcome!

NFTs on Bitcoin + Stacks. Artist Chemical X in collaboration with Cara Delevingne, Fatboy Slim, & others. This is #1: http://thisisnumberone.com 

Elon balanced three things: - protect the reputation of Tesla’s environment-friendly brand, - continue to hold Bitcoin, and - leave carrots for the crypto industry to continue having fun with crypto.

I never imagined that the journey to a decentralized internet would have a chapter on trading dogs and poop.

Arkadiko lending and xUSD stablecoin is launching on Stacks + Bitcoin. Part of a new crop of protocols utilizing the trillion dollars of Bitcoin capital. Blog: https://arkadikofinance.medium.com/arkadiko-protocol-hello-world-e3932293dafd …

A period of rest should theoretically make your mind more productive. Yet a lot of smart people I know are always on and can’t stop working. Something seems broken about this.

First time using Twitter Spaces. We’re talking about building on Bitcoin: https://twitter.com/i/spaces/1PlKQPLzppMxE …