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BTCFI: A New Leader In Crypto?
Recorded: April 24, 2025 Duration: 0:43:40Space Recording
Short Summary
The crypto community is buzzing with excitement over BTCFi, a new project poised to revolutionize Bitcoin's role in DeFi. With a public token sale underway and discussions around yield generation, BTCFi is drawing parallels to Ethereum's early growth, signaling a potential shift in the landscape of decentralized finance.
Full Transcription
Music Thank you. so
oh running it back for a part two x does love a rug these days elon you do know people are
trying to utilize the streaming service right like come on my man like i know you're too busy
running the u.s but geez like this man we we weren't special enough and he just shut us down
real quick it was it was the shortest space i've ever been on that's exactly what just happened yeah yeah he asked us what we do for a living and we couldn't
justify it quick enough for him and uh so we do crypto no gone like literally these millennials
or these zoomers who are just coming in and taking all our jobs right now are even getting
onto spaces that's that's niche that's niche how many of these minions does elon actually have and look guys it's gonna be a fun show get the likes
and retweets out so we can get our audience back but really appreciate all of the listeners who've
already found the show again you guys are the real mvps also massive shout out to omnity and waggle
for finding us back so soon and the legend behind the x3 account who got the show ran straight back up
right alex you just did a great tldr i was just finishing doing my tldr about how we contribute
to the show so guys i was asking for that hand raise um if you do want to come in we're looking
at a bunch of pfbs on stage so yeah if you do want to come in with any takes feel free to just
get the hand in the air we'll get the mic straight over to you and one thing i didn't mention is the incentive of doing that as well
because look this is a crypto show so there's always incentives this incentive like the majority
of crypto has no actual tangible rewards but we're still here for it jack points jack points have no
tangible rewards whatsoever but you do get 10 jack points for every time you raise your hand in the
air and at the end of the show we will tally all of those points together and the winner will receive No tangible rewards whatsoever, but you do get 10 jack points for every time you raise your hand in the air.
And at the end of the show, we will tally all of those points together and the winner will receive absolutely nothing for doing so.
Because as I've just said, they're completely worthless, non-tangible.
But you will get my love and admiration and a lot of respect from our listeners for contributing a ton to the conversation today.
So that being said, let's get the mic over to the speakers.
Who wants to take what is BTCFi?
Anyone want to come in on what exactly BTCFi is? Why it's starting to get attention in the crypto
space right now? I talk too much, so I'll chime in pretty shortly and without a hand raise.
I'll pick up my jack points next time. But there's an easy way
that we could sort of liken it to DeFi, but I think there's a better contrast that we can focus
on, which is that BTCFi has built-in provenance. It has much, much, much greater liquidity,
not because ETH has low liquidity, but because Bitcoin just has a few years over ETH, right?
But that traceability property and that sorting of assets and that sortingFi means that you have a you know much better
provenance much better compliance and a lot better history for assets so it's a different type of DeFi
a DeFi that depends on the uniqueness of Bitcoin. Absolutely love that and you're getting them
jack points whether you want them or not that was absolute alpha so throwing them 10 jack points your way waggle coming in not to be left behind on
the points though waggle over to you yeah omni i think you gave you know a great tldr but i also
think that um you know btc5 is still so early right right? You know, nobody's really cracked the BitVM2 yet.
You know, I know our team's working on kind of a BitVM2, BitVM3 solution.
But, you know, for people that haven't gotten really into BTC5 yet, you know, I think we are so early.
I think this is, you know, the stage of kind of right as ETH was taking off, you off, this is where Bitcoin is right now.
We see
ETH L2's
having its moment
in the last run.
I think
we'll have that
same moment, but with Bitcoin in this cycle.
Yeah, that is a really
important piece of additional context there absolutely love that
waggle but yes this is really early this conversation in its entirety is super super early
but the attention that's coming to it right now is significant and i really love that we are still
able to have a conversation like this and really really just shine a bit more spotlight as to where
we are
in this journey as well when people do hear btc5 because also it's important for you guys to know
that this is what transparency looks like and this is what real builders utilizing or looking at this
technology are saying about it because if you hear someone saying we have the new btc5 exchange it's
coming tomorrow it's going to solve all your problems. Be wary of that
because it's way too early in the tech isn't there yet. So really love that context. I want to dive
in further. Would love to get a take from Omniti or Waggle or any of the speakers, but Alex, I know
you're a bit like me here. You're a listener participant in terms of wanting to understand
this with a bit more context. And then I'll ask you how that connects to xfee alongside but how does btcfi differentiate itself from existing crypto or
d5 platforms omnity you initially mentioned the fact that it is there to utilize the specific
uniqueness that bitcoin brings can you elaborate on that a little bit yeah Yeah. So when you go into DeFi on ETH and you go into a DeFi pool,
the assets that you put into that pool are now one with the pool, right? The pool itself
is not unique. It does not recognize that the difference between Jack's assets and Omnity's
assets and Alex's assets. No, they've become this one unified number, which makes them, you know,
more fungible effectively, which is great. You know, there's some benefits for that.
But a very, very light reduction in fungibility is a feature and not a bug. And that feature is
traceability. So if anybody remembers Wi-Fi or YFI on Ethereum quite a while ago, one of their main innovations was being able to track, sort and manage pools in DeFi very, very effectively and safely in order to separate pools and manage risk and try to create DeFi that didn't have quite as much breakage at the time, right? 2021 was an interesting
time for DeFi. So those same properties that Wi-Fi had to work very hard to establish on Ethereum,
including an NFT standard that was designed specifically for managing DeFi pools, none of
that is necessary on Bitcoin because it's kind of built in. You know, when you go to a DeFi pool on Bitcoin and you're trying to deposit assets, you're
going to go into that pool.
But when you withdraw your assets from the pool, they still retain their uniqueness.
Even if you clear out your UTXOs, there's still a provenance that we can find for each
of those Bitcoin pennies, each of those sats.
And, you know, initially this was seen as a significant problem or a negative.
Why Ethereum said, hey, we want this account model.
We want an increase in fungibility.
And Bitcoin said, hey, you know, we're not going to change the way sats work.
We're not going to change this UTXO model.
And that means that it becomes a feature.
It's not a bug. You know, there's a
whole bunch of benefits for legal compliance and working with traditional finance. But there's also
a lot of L1 native scripting that's possible on Bitcoin that really doesn't exist on ETH without
Solidity. And I think that's perfectly healthy and fine. But as an example, you know, a large insurance company locking up Bitcoin in a two of two
multisig, you know, that is a very open source, very sort of transparent and manageable operation
to do the exact same thing on solidity requires identity, requires key management, requires
contract audits.
There's a lot of detail and extra features that have
to be built into it in order to sort of manage that uniqueness so again feature not bug utxo
model versus account model that's the real big difference is that when you you know just have a
whole bunch of way in a pool uh it'll behave very differently than than sets in a pool
it'll behave very differently than than sets in a pool that's so so interesting and look it
reminds me a bit of like not not quite related but just in terms of bitcoin functionality that's
like baked in i don't know if you guys have seen the news but we've had a little bit of drama in
the nft world over on ethereum right now because um CloneX, the project that was acquired by Nike,
I think it began with a B, guys. It was a lot, a lot of money. The difference between Ethereum
and Bitcoin in that regard is, again, down to that uniqueness, but it's down to the inscription process.
And with ordinals, the images, the JPEGs especially, like linked to ordinals,
they're inscribed on the blockchain.
They're like built into the code of Bitcoin. They are set up through Bitcoin itself.
So as long as Bitcoin exists, so do these images.
Ethereum, it still connects to the cloud
servers, the traditional native Web2 cloud servers. The one CloneX was on stopped being paid for
because Nike did screw up the project, but now the artwork itself no longer exists as well.
That is what is going around currently. And these, by the way, at at their top top price were like in the tens of eath when eath was
three four thousand dollars so you know we are talking significant valuable assets um where now
the holders can't even actually demonstrate that these things are unique or that they hold them
anymore um and i know that's not quite in relation to what we're talking about in the uniqueness on
that side but again like that
was something that i think people initially thought was a feature not a bug on ethereum
being able just to point to something very simply and not have to go through an inscription process
or put this all on chain and it's only literally like five years later that we're now like oh
maybe every piece of art should be on
chain. And I just, with Omniti's take, I just want to give that little bit of connection there,
because I think it's important to understand that even if you don't understand those value
propositions as they currently are, stuff like this happens quite consistently. And just being
able to fully rely on the chain itself and the assets existing on that chain as long as that chain
exists and obviously bitcoin being that chain the mother chain the one that if every other crypto
goes away bitcoin's going to be the last i again i think that's a really valuable value proposition
there waggle your hand was up i'd love to get the mic over to you next yeah i think somebody put like
100 eth into one of those.
Imagine you spent 100 ETH on that NFT and all of a sudden you can't even see it.
Oh, it was way more than 100 ETH, brother.
Way, way more.
At the top, yeah, yeah.
Like the things were going for 30, 40 just on their own.
I think one of the one of ones went for, yeah, like it was over a million dollars,
if I'm not incorrect.
I couldn't remember what I said.
Maybe like 300 ETH, regardless.
So that's unbelievable.
But the problem right now is that the Bitcoin layer one is so expensive.
That's really why we're focusing on building the Bitcoin layer two,
because I think it's unsustainable.
And we saw that with ETH.
It's unsustainable to pay $100 for a gas fee. You want to transfer $10 and the gas fee is $100, you're not going to do it.
That's why people and BTC5 has really emerged because people have decided they want to scale Bitcoin. It's too slow and too expensive to do it on the actual Bitcoin network. So now people
are working to find those solutions in order to bring those costs down. Yeah, that's super
interesting. Can I, can I double click on that waggle? How, how realistic is even the term BTC
in terms of more of a mass adoption sense right now with Bitcoin as the technology currently stands?
Are we waiting for an opcat or like some upgrade or not necessarily upgrade, but some sort of tweak
to Bitcoin to really be able to do this so that you don't have those really lengthy transaction
times or yet there's really high costs? Yeah. You know, I think most teams are
working on a BitVM2 solution right now that brings
the scalability to Bitcoin with sharing the Bitcoin network security. I think until a team
truly upgrades to that, I don't think BTC Phi will really go mainstream. I think that
you know, will really go mainstream. I think that people will play around with it a little bit.
But right now, you know, a lot of chains in the BTC, quote unquote, BTC5 space are, you know,
side chains built with solidity. You know, until chains really inherit that Bitcoin security,
you know, what's the difference between using a quote-unquote sidechain versus e-mail too there's
not really much it's just the gas fees you know btc instead of eef yeah yeah that's that's such
an important point for this conversation today so i love that you added that which is yes look
there's an element going on right now but just sort of like the correlation we've just made with
the um the clone x and the fact that fact that the inscriptions on Bitcoin are linked to
Bitcoin. So as long as Bitcoin exists, this exists. That's the same with what's going on
with BTC5 right now. It's trying to leverage, look, we exist and we work in a way that is
fundamentally core to what Bitcoin function is. And the assets on there will exist as long as
Bitcoin does. But right now
with the Solidity layer, that isn't necessarily always the case. So can I ask you a little bit
more about the BT... So you mentioned BTCBM2. Can you tell me a little bit about that? Like,
give us context as to what that is, how far away teams are from like getting there and like what's
actually required? So Amnidi, I don't know if you want to speak to this.
You know, I know that you're pretty technical, but, you know, I think teams are, you know,
I would say between six months to a year from getting a true BitVM2.
And Omni, I don't know if you want to add anything to that.
Yeah, I appreciate the invite.
I'll just briefly say that we have some BitVM partners and, you know, we do want to see more progress and value come from BitVM2.
But there are some, you know, alternate perspectives. I think there's BitVMX and a handful of other takes on it.
So I think that there is a, you know, still a significant desire for a virtual machine on Bitcoin, and this will obviously make things a lot easier for a lot of different folks.
But even without BitVM, there's still quite a lot we can do with scripting, with HTLCs, and with the standards that we have.
So I think it's true that OpCAD and other products can bring a lot of value to Bitcoin.
But if you look at what's growing in OperaTern, you'll see that BRC20s or BRC2.0, rather,
are looking at OperaTern as part of that protocol upgrade.
Alkanes are built on OperaTern.
Runes and Ordinals are very heavily dependent on OperaTern.
are very heavily dependent on Opertern.
That's kind of the bread and butter of what makes that possible.
That's kind of the bread and butter
of what makes that possible.
So I think there's still a lot of tooling
outside of virtual machines
that are healthy for Bitcoin,
that make Bitcoin a reliable and reasonable choice.
But the reason why virtual machines
are such a target is because it's kind of,
I don't want to say easy mode,
but from a development perspective,
it's much more direct and simplified and unified to say, oh, hey, I have this kind of canvas in front of me instead of saying, oh, I have this code that I have to aggregate over here.
And then I have to recursively check this place for these values.
And, you know, there's there's a lot more flexibility and sort of ease of development that comes with virtual machines.
But even without them, we've we've made a great deal of progress in BTC Phi and just in, you know, Bitcoin financialization and monetization in general.
Yeah. And, you know, I think that you're 100% right.
There are certainly other ways, you know, just not BitVM2.
there are certainly other ways, you know, just not BitVM2.
But, you know, I think, and, you know,
maybe it's just a personal feeling,
but I have a feeling that will be the most adopted one.
And I think that's kind of where we'll get first.
You know, don't quote me on that.
And if you have me again next year, I hope that I'm right.
But, you know, maybe I'm not.
But that's kind of where I see the market going.
Oh, my God.
Can I just thank you both for hopping in today?
Like this level of context is fantastic to hear.
And honestly, just being able to break that down,
both for myself, for Alex and the audience,
I think is a fantastic way to go.
Alex, how are you feeling about this so far?
This is some high level Bitcoin stuff.
Do you ever see Ifee looking at bitcoin
as like a layer that could also be supported uh yeah i mean the the way and and by the way as you
said like uh omni t waggle definitely like some some really amazing takes and i'm super grateful
to to have you here uh answer those things and and do this kind of deep dive but uh looking at
it right it's like part of the i guess the
challenge itself is because bitcoin itself is like the largest asset there's like massive
untapped capital just uh sitting like uh on chain and and it's like um the the the teams and the
the technology manages to crack that to to sort of encourage adoption and wider use.
It's like sort of Bitcoin transition from this store of value to, I don't know, like capital that can be put at work at scale while being sort of adopted by like nations and governments, so on and so forth.
So I think at the point where this will be just beyond,
I would say, not necessarily hype, but its inception phase
and it will be sustainable,
like every serious and major player in the industry
has to look at this from uh from a perspective where it
can become uh uh basically the the new sort of uh d5 protocol that that relies on the underpinning
aspects of of bitcoin as being like uh uh most secure morally most liquid asset uh uh and and
being able to sort of uh start utilizing it in a totally different way
that has never been done up to this point.
Yeah, look, I'm super excited.
I'm a Bitcoin maxi from the sense that,
and I don't know if maxi is even the right word
because I'm definitely multi-chain,
but I do genuinely believe Bitcoin is here to solve
not just the crypto
native issues but also like the way the economy is currently going i do see bitcoin actually
supporting a lot of that and i do think that having a little bit more decentralization when
it comes to these key decision makers right now on a central platform i.e the u.s government the
trade wars that are going on all of these sort of things and having something that is separate from that is not required at this point.
It's necessary, like it's entirely necessary.
But all of that being said, it is really, really interesting to hear how like C5 platforms, how traditional banks are going to look at this and all of that as well, which is really, really core to, you know, the mass adoption stage that we, I think we're around the corner from,
in all honesty. Like, I think it's going to come much, much faster than we actually realize. I'm
just hoping we're prepared for it and that we can still keep it for the majority of what it is.
is waggle your hand came up there would love to hear your take on this yeah and you know i love
Waggle, your hand came up there. We'd love to hear your take on this.
you called yourself a btc maxi um you know a lot of people nowadays um you know like
shit coining more than the actual btc itself but you know one thing that we're working on
at goat network is you know yield for btc um know, something that I see as important for the future of BTCFY
is yield. You know, right now, there's not many places where you can get BTC yield. You know,
you can put it on Aave for 0.2%. You know, you could put it in some other things for very small
yield. But until, you know, the crypto industry has cracked, you know, not only the scalability of Bitcoin,
but also, you know, a way to generate yield on Bitcoin. I think that's when we really see BTCFi,
you know, start running. You know, a lot of people who are BTC maxis like yourself, Jack,
you know, are hesitant to put, you know, their Btc to work but at the same time though there are
a lot of people that are interested in it as you know paying yield on bitcoin and you know stacking
sats on sats oh definitely like and i'm in that camp by the way like i think the thing for me if
and again like people will definitely you know argue where where I fit in this spectrum of like being a Bitcoin maxi or whether
I can even call myself one. But for me, it very much is every Satoshi that I acquire is never
being sold. Every Bitcoin as a total that I hold will never leave my wallet. And for that reason,
I need an ability to still stack it like you know like this is my overarching
goal is i have a certain amount of bitcoin that i would love to have in the next decade and through
that acquisition if you can help me get there faster by stacking sats on sats and for people
who are unfamiliar maybe into this show more for you know x3 themselves than hearing about the btc
five sides satoshis are the like the lowest denomination of bitcoin you know there's like a
is it 100 million satoshis in every single one bitcoin think of it as dollars to cents
you know waggle you came off mute there i did get that right right yeah yeah you explained that
perfectly thank you brother thank you and look, these are the things.
So I think for the most part,
outside of the guys who maybe were in Bitcoin early enough
where they're all very happy with their bags
and maybe just don't want it to change
because they're concerned with any change at that point
when you've got such a significant financial stake in something.
For me, yeah, just give me more of it.
Give me an opportunity to get more of it
so that the value that I want never has to be diminished. But if I do need to take profits in a decade or two's time, it's a surplus. It's based on a yield that I'm generating whilst being completely comfortable with the amount that I hold and the fact that I can hold that forever.
forever because for most people then just not in a financial position where they can say look i'm
gonna hold this financial asset not touch it not gain anything from it and i'm just always going to
be in that financial position where i don't need to touch this thing that's very very valuable to
them omnity your hand came up there would love to hear your take on this i mean it's been a great
flow but i'm just i'm really just absolutely hungry for jack points because I have not had breakfast yet and there's just not been enough hand raising in here.
No, I'm kidding. I'm kidding. I did want to chime in briefly on something because I think that, you know, where the yield comes from and what is the risk reward model?
You know, these are the kinds of things that were ignored very early in Ethereum.
You know, there was a high amount of speculation. Lots of new people came in.
You know, the protocol was developed at a,
I don't want to say breakneck speed,
but, you know, before we got to ERC20
and then after ERC20 became popular,
there was a lot of drive that moved Ethereum very quickly.
That led to a kind of less responsible investor thesis.
And I think that's not really acceptable to Bitcoiners.
You know, we should ask where the yield comes from and at the same time recognize that the
majority of opportunities for BTC yield, they tend to obfuscate and not talk about those risks.
I think that GOAT and a handful of other organizations have been, you know, pretty
understanding and wise to say like, hey, if you, you know, want, like, hey, if you want to audit the risk,
if you want to look at what this risk is intimately, like, hey, this is what the risk looks like.
But that risk reward model has changed a lot.
And just as Waggle was saying, that stuff needs to be bound to Bitcoin.
If you have a third party lockup or you have some, let's say, I don't know, an Ethereum L2 that specifically
manages HTLCs to lock up Bitcoin in order to, you know, have a sort of wrapped version of it
on another validator network. That's perfectly fine. And, you know, it's nice to have Bitcoin
involved in other blockchains. But at the same time, you know, that point of just maybe not
where the yield comes from, but what what's the risk?
That's something that we've been obfuscating pretty significantly.
And, you know, in more junior retail environments and in more retail investing type environments, it's it's normal to not spend lots of time on the risk.
risk. But the more you get into, let's say, 10 trillion BlackRock AUM territory, the more you get
closer to, you know, big boy banking, you'll see that risks are a really, really critical focus of
investment and finance. So I think for that reason, you know, it's been a very productive step forward,
not just for organizations like GOAT, but, you know, for organizations that are campaigning
to Bitcoiners to leverage their Bitcoin for yield. You know, you've got to talk about the risk and the reward, right?
Yeah, look, as someone who recently lost a 16 to 18k asset, depending on the day, due to just not being super concerned with the risk or at least being more concerned about acquiring the asset that I really wanted and just for a second
a little tired and a little bit preoccupied just you know making really poor decisions
yes it is the most important thing and honestly especially when it comes to your bitcoin and
especially as that value of that bitcoin becomes significantly higher part of your whole portfolio
but also the entire world's value
i think i saw it like top five recently in terms of assets it just overtook google so like you know
this this is something that a hundred percent we need to look at more closely um and yeah the you
know no matter how much i want to stack sats on sats unless i get a definitive answer to the risk and the risk basically being zero i'm not i
just i can't not not with not with my forever bitcoin and right now that's all of it and why
you came off mute there mike over to you yeah i mean you hit it right on the head jeff um you know
you have to know what the risk is in terms of reward um you know something that we're working
on a little alpha for uh you know the chat today um you know if i'll pose this question to you
if you were able to keep your bitcoin in your wallet and earn two percent just keeping it there
would you do it dude literally like the best thing ever yes yes um you know so that's something we're working on
it go um you know hopefully um you know we'll have some more information around that soon but
you know hopefully uh you know we'll get some good traction with the product that we're going
to launch soon yeah honestly dude that is music to my ears i think gonna be a music to a lot of people's ears as well
the only next step that i would ask for is also let me in that on my ordinals
no one's ever done this on any of the ordinals you are certainly right about that
yeah and look this is the thing like maybe just those singular satoshi that my ordinals connected
to i'll get two percent on that
um but literally yeah this is the thing i i've been wanting forever is like let my act like an
ordinal is a house in some places you know especially depending on the value of these
things let me in yield on that too let me in on the nfts i think this is going to be next stage
but i think that's definitely longer away absolutely
love the conversation where btc phi really evolves right like what you just said around
sacks like you know this is where the industry will end up it's just we are so early you know
um i i really believe this is like a pre-optimism comparing it to like an ethel too like this is where we are in btc5 and
btcl2s and yield generation for you know sats and runes and ordinals all those things yeah
definitely i'm so excited as well this conversation has done nothing but make me more bullish on where
this is all going so massive shout out to all of our speakers as well and look guys i guess just to bring this
back to risk and but very specifically and omnity this one might be for you because i know you
initially started talking a little bit more about virtual machines and just putting two and two
together here bit bm i am assuming now means bit virtual machines if i'm wrong there do let me know
i'm just putting two and two together there um is there any risk to this you know if this is because both yourself omnity and waggle you guys
both seem to be in an agreement that this is going to be the first thing that people are going to be
able to build on top of and get a little bit more um a bit more alignment with when it comes to
bitcoin and actual true btc phi is there any concerns that come with getting to BitVM?
Well, I think that there is a larger sort of standardization versus specialization discussion.
This is something that actually led me to join Omniti about four years ago. And, you know, it comes up pretty regularly in deep
tech discussions in crypto. But ultimately, you know, having a digital asset network that is
public and interesting and flexible and very, very useful means that it's difficult to kind
of sit on one standard. You know, the way that Ethereum was birthed by a group of people and sort of, you know,
had its moment of hello world, that makes things a lot easier to, you know, sort of focus on or say,
hey, we're all going to do this one thing. We're all going to use ERC-20. We're all going to use
721. We're all going to use 1155. For Bitcoin projects, I think this is a very different
conversation, not just because people might consider BitVMX or BitVM2 or, you know, some
other alternative, but because there's so many Bitcoin applications and businesses that are
currently basing their structure off of, let's say, a couple of private servers and HTLCs because
they, you know, maybe they don't want to manage a validator
network because they are a publicly traded company in the United States. It's not something that they
want to see as an extra layer of risk that they have to have public validators where anybody could
join that network and potentially find a security vulnerability. So there's a great value in standardization, because if we all use the same
framework for assets, then obviously it's easier to swap back and forth between them and
do other kinds of things to interact. But the way that Bitcoin's been building is kind of as
an ecosystem with multiple ecosystems. I think that in 10 years, we'll see the BitVM ecosystem.
We won't necessarily see BTC Phi as a single thing.
BTC Phi could easily be a category that describes a number of traditional finance institutions
that use on-chain Bitcoin, that use HTLCs know, have some value built into sats. But at the same time,
that doesn't have to be the one of one, the, you know, interoperable or exactly similar,
you know, BitVM environment where a BitVM environment would have greater integrations
with social FI, greater gaming opportunities. You know, it's difficult to sort of choose and say, hey,
we do want to have this one way of doing things so that that is the way that we all can do
it together.
And I think that's how we're going to see this kind of pan out is that there will be
some unification and there'll be some stickiness where, you know, multiple groups will say,
hey, this is worth the trouble.
You know, we do want to all use BitVM and then, you know, share maybe not liquidity, but, you know, share the same sort of service addressable
market that we're going to campaign to and things like that. So I think there's a, again, a very
high value in unification behind a standard, but also Bitcoin is way too catty for that. We've been
fighting over block size. We've been fighting over all kind of fun stuff in design of Bitcoin for a long time. There's no reason to take away those joyful bouts and debates. You know, it just means that some, you know, projects are going to focus on some standards.
And, you know, as long as there is a sort of reasonable level of decentralization of these ideas, that means that you can, you know, get some of the
benefits of that unification and get some of the benefits of that specialization.
Absolutely love that. And yeah, I also love this idea of the bouts being a nice thing. Like,
you know, it's like disagreeing without being disagreeable. Like, yeah, this is fun. And also,
this is for life, right? Like some right like some people look if you it's almost
like that saying if you love what you do you never work a day in your life like i feel like people
need to look at bitcoin and building on it a little bit more like that and crypto more generally as
well like the fights can be heavy debates but you should still be enjoying them otherwise you've
went that one step too far in the work direction and this is too fun and it's going to impact too many generations when we're all way
dead and gone and nobody remembers who the hell we are, that we should be having a really fun
freaking time doing this. We should be so, so excited about being able to be here right now,
whilst these decisions are being made made whilst these things are being built
like i don't know about you guys but i literally for the longest time looked at the people during
the dot-com bubble and the like the dot-com era and was just like these guys are the luckiest
guys on the planet getting to go through the apples and the microsoft's and the google's and
the you know it just and now it's us like we literally get our own turn at this for way way
bigger stake waggle your hand came up we'd love to get the mic over to you and then guys it's
nearly end of show so i have to get the mic back over to alex before we close out um yeah i was
just gonna add that i think bitcoiners are a little more serious in terms of tech compared to ETH, right? Like, you know, I don't see like an ERC 404 standard coming to Bitcoin.
You know, that was a fun week in terms of in the Ethereum ecosystem.
But, you know, for BTC, I truly believe that like Omni said that they they'll decide the community will decide one way
and kind of move forward with it i don't see you know a lot of different token standards coming to
um you know bitcoin like we do with ethereum
yeah yeah 100 like it's it's the mother chain right like you know ethereum for like all its
great use cases and all its
incredible giga brains behind both the people who've built it out but also the people building
on it like it it doesn't have the same feel to it and also because you know satoshi and the fact
that you know this is this is no going back at this point um it just doesn't have those same
stakes attached to it like we can go back that just
isn't something that i feel ties to bitcoin in the same way um look guys fantastic show when it
comes to jack points omnity and waggle you guys at tie just absolute alpha today so you take 100
jack points each is the most i've ever given out on a show but it just so much context and you guys
have absolutely crushed it i really hope these things are worth
something one day but they're very much not right now i will say though if any of you guys are at
dubai and that's obviously including alex and xf you can definitely redeem any amount of jack points
for drinks whether that be just a coffee if we can catch up or whether it be for something stronger
then yeah definitely those jack points will come in handy there. Alex, we are basically at time.
I'd love to get the mic back over to you
for just the closing consensus
for how you feel the show's gone right now,
how you feel having learnt a little bit more
about BTC5 when it comes to XF and what you guys can do.
And obviously this will be a great time
to also give us a little bit more alpha
on any of these updates, the milestones,
and what you guys have got planned next now that you've done that incredible raise uh yeah amazing thanks again like
omnity wiggles it's been just a pleasure to to sort of like uh tune in with you guys and then
just really listen to some ogs in in the space uh talk about uh btc5 i definitely think it can become a major player.
Just not there yet, but
think by listening to
you guys, it's definitely
something that I will look
forward to in the next couple
of months, maybe
one year, to
see how this evolves.
With that being said, definitely back definitely circling back to what you were
saying, Jack, about Dubai. We'll be there, Token 2049. If some of you guys will be there, we'd
definitely love to meet, have a chat, have some drinks, maybe see you at some side events. It
will be an insane period. The market looks like it's heating up again
so uh we are good in terms of xv as previously said a big big round for us super super grateful
for all the people who have contributed uh phase two is is coming up so we are doing essentially
with split the uh public sale in in in two phases um the difference being like for the first phase,
like slightly lower token prices.
And we also have a bonus, participation bonus.
So everybody that basically bought got 30% up to 30% bonus.
And then in the second round,
we are doing up to 15% bonus on the token purchase.
So that's part of our larger airdrop campaign that we're hosting.
That being said, we are definitely not going to stop.
Super exciting things that we are start to showcase after the public sale is the fact
that we are launching our own payments infrastructure.
our own payments infrastructure.
It's called XVPay.
It's called XvPay.
It will be sort of hand in hand
with the cards that we are launching.
So we'll have quite some interesting developments
that add up to the token utility itself,
plus a burning mechanism.
The plan is to burn 50% of the supply
to ensure that we have a sustained token value and
and sustainable model so 20 25% of the quarterly profits forever allocated up
to the point where we burn 50% of the token supply that being said guys thanks
again for joining Jack as always an amazing co-host
Elon did rug us at the beginning,
but I think this one turned out quite well.
So thank you for tuning in, guys.
Yeah, Elon's not keeping us down.
Absolute banger show, guys.
Massive shout out to XF, to Alex, Omniti, and Waggle.
Thank you so much to all our listeners who've tuned in as well.
Love seeing this show just grow so quickly and just see all those familiar faces but all the new ones as well really really
appreciate everybody today it's been a banger we'll catch you on the next one Watch me go.
I'll be running circles around you sooner than you know.
A little upset when I'm out of tune.
Just kicking this girl on the avenue
But I'm alright
It's easy once you know all it's done
You can't stop now, it's already begun
You feel it coming through your phone
And you jerk it out Shut up, hush your mouth.
