My latest nerdy curiosity deep-dive: how Bitcoin NFTs work, since Bitcoin support smart contracts
What I learned: Bitcoin NFTs take advantage of the Taproot Bitcoin upgrade****
Taproot lets you permanently inscribe Satoshis — the smallest atomic units of Bitcoin equal to 0.00000001 BTC — with any arbitrary data (e.g. artwork)
Bitcoin NFTs are just Satoshis that contain inscribed data 🤔
DeFi just makes sense — especially permissionless composability
We can't even imagine the financial products that'll emerge 5 years from now as developers keep building on top of each other's protocols like lego building blocks
You should be so excited
Stop hunting down signers for every multisig transaction
Den now lets you create batched transactions, so your signers can approve more transactions in less time
Send tokens, interact with contracts, and connect to dapps — all in one transaction
Stop doing this to increase your social authority at work
Most first time founders and new professionals make this mistake trying to sound friendly
#bytes
Avoid this if you want to start a company
There's a mistake that almost all first time founders make. Avoid it.
#startups #businessadvice #bytes
How the FTX "Infinite Equity" Machine worked:
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FTX loans customer deposits to Alameda Research
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Alameda Research invests those deposits into startups
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Alameda Research makes those startups deposit funds on FTX
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Repeat 🔁
This is how FTX scammed startups for equity
You know that FTX loaned customer deposits, but the story gets crazier.
Here's how they turned stolen customer funds into an infinite startup equity machine.
#bytes
How FTX imploded
This has been the craziest week in crypto history — maybe ever
Prices tanked and cortisol levels spiked
Here's how it happened
Reddit NFTs Turned Out Successful?
Reddit's crypto expedition has been surprisingly successful. Reddit NFTs have had large daily trading volumes and have onboarded more than 3 million new people to Web3.