MuddieToes
Joined October 2021
- Tweets12K
- Following1.2K
- Followers399
- Likes18.3K
MuddieToeNails retweeted
StackedUp EP.4 is live tomorrow, 3PM UK / 10AM EST
This week:
→ $STX rally
→ BTC Staking Bond 2
→ DeFi updates
→ Market data from @tenero_io
→ Community spotlight & more
Building on @Stacks? I want to hear from you, reply to this post if you want me to check out your app 👀
What else should I cover?
Follow @StackedUpStream so you don’t miss it 🔔
STACKED UP is the weekly @Stacks & Bitcoin show
Every Wednesday · 3PM UK / 10AM EST, live on X
Each week:
→ $STX & $BTC news you missed
→ Market check & how you stack up against it (powered by @tenero_io)
→ Community, builders & more
Hosted by @reubs_btc.
Turn on 🔔 so you never miss a show!
MuddieToeNails retweeted
STACKED UP EP.2 - BTC reaches $85k, Stacks Market Heating Up nitter.gq/i/broadcasts/1kJzDPVYE…
MuddieToeNails retweeted
LATEST: ⚡️ 21Shares, HashKey Cloud, UTXO Management, and Sypher Capital have bonded 250 BTC in Stacks' first institutional Bitcoin Staking round.
MuddieToeNails retweeted
The best of Bitcoin and Ethereum.
There is an idea I’ve been obsessed with for over a decade. It’s a very simple idea. It’s a trillion-dollar idea if it works.
The idea is simply to take the best qualities of Bitcoin and Ethereum and combine them.
Bitcoin is the superior asset. Ethereum has better rails. BTC is winning as digital capital. Ethereum pioneered on-chain capital markets (Solana is challenging that position). Why can’t we have best of both?
ETH tried being internet money and that didn’t work. BTC clearly won as digital capital. Ethereum rails, however, have created thriving on-chain capital markets. Not just directly on Ethereum, but on derivative chains like Arbitrum (used by Robinhood), Tempo (by Stripe), Tron (largest Tether usage), etc.
Bitcoin and Ethereum have been #1 and #2 digital assets for close to a decade now. There is obviously competition between them. ETH has nowhere else to go but try to be #1. This is what the entire “flippening” movement was about (it failed, for now).
If we take the best parts of Ethereum (like faster transactions, programmability) and vertically integrate them on top of Bitcoin, like HTTP on top of TCP/IP, then we have a scenario where the best asset, BTC, can be integrated with modern rails. Simple.
The internet didn’t become *the* internet until HTTP took off atop TCP/IP. Fragmented networks don’t become global standards. We’re still fragmented in crypto, but the consolidation phase has started.
If a vertically integrated modern rails like Stacks truly takes off for BTC, then Bitcoin solidifies its #1 spot even further. BTC gets native BTC yield, and gets deployed in bitcoin capital markets. Bitcoin can then keep evolving (like adding privacy features) without ever changing the base.
The best of Bitcoin and Ethereum. In one vertically integrated system. That’s the dream. We’ve built it at Stacks.
MuddieToeNails retweeted
Solid, detailed take on the $STX B2 filing.
What stands out to me:
📃 Zero post-2018 insider vesting, no exchange token deals, no POL/purchased TVL
🌐→ No team members still unlocking free tokens from after 2018, no free tokens handed to exchanges for listings, and they didn’t buy fake liquidity or TVL with tokens.
Market maker fully named (Wintermute, 6M $STX loan + options, quarterly restrike)
🌐→ They openly say Wintermute is the market maker and exactly how the deal works (6 million $STX loan + options that reset every 3 months).
Most projects hide this.
📃 #SIP-031 endowment emissions on-chain and auditable (despite the 400M/500M inconsistency)
🌐→ The new tokens being printed for the ecosystem fund are controlled by a public smart contract anyone can check. There’s a small numbers mismatch in the filing, but the actual emissions are transparent.
Old 2018 supply completely unlocked by Oct 2025. Nearly a year ago, now.
🌐→ All the early investor and team tokens from the original 2018 raise finished vesting last October. Nothing from that era is still locked up.
📃 This is one of the cleaner transparency filings among large-cap protocols. Self-reported, yes — but no “confidential” black boxes and the sellers/schedules are explicit.
#Bitcoin #L2 capital markets need exactly this level of disclosure.
Good work 👏.
@Stacks got marked down on its transparency filing for three things it doesn't do.
(I hold blockstack:native, same size, six years.)
What it says isn't there: no post-2018 insider vesting, no tokens committed to exchanges, no listing fees in tokens, no protocol-owned liquidity or purchased TVL, no loans against unissued tokens.
What it does say: the market maker is Wintermute, 6,000,000 blockstack:native, 24 months, a loan and option that restrikes quarterly. Morpho answers that same question with "confidential." Stacks uses that word zero times.
There is a seller, and it is named. SIP-031 emits new STX into an ecosystem endowment over five years, which funds Stacks Labs and spends on grants, liquidity and marketing on a published split. Its contract is onchain, history auditable, spend and runway quarterly.
The filing puts that emission at 500 million STX in three places and 400 million in one. Completeness is not accuracy.
Old supply is done. The 2018 rounds vested over 24 to 36 months; the last tranche, 8.33% of supply, ended October 2025.
Three of the four gaps are formatting. The form says that with no exchange deals, "state that explicitly; doing so earns full credit." Stacks typed N/A into a table.
It is self-reported: @Blockworks "reviews completeness only." But it is dated, and Coinbase, Kraken, Anchorage, BitGo and Copper have agreed to use it in diligence.
In this filing the sellers are named, the schedules are public, nothing is marked confidential.
NFA, DYOR. The filing is public, read it yourself.
Tell me if I'm wrong and I'll fix it.
MuddieToeNails retweeted
Stacks Self-custodial BTC staking launches on September 10th
Want to be the first to get access? You can join the waitlist here -stacks.co/bitcoin-staking
Selected retail participants can join the genesis bond via pooled access and capacity will increase each month
MuddieToeNails retweeted
"Bitcoin was never going to need a second place to sit. It needed a way to earn from where it already is."
- Quoting this!
MuddieToeNails retweeted
$STX just hit No.1 on the 7 day board and No.4 on the 30 day.
That looks like another bitcoin beta trade at first. The interesting part isn't that $STX goes up when $BTC does. It's why this run could be different from the last ones.
Bitcoin cannot pay you: Every product built to fix that asked holders to give something up first. Wrap it, bridge it, give it to a custodian. The yield was real, but the bitcoin stopped being yours.
@Stacks is changing this: Since mainnet launch in 2021 it has paid out 4,200 BTC to participants, and the new BTC staking protocol bonds launch expands on this strong foundation.
The difference is that $STX now sits between bitcoin and its yield by rule.
BTC is bonded alongside STX, with the STX position set at approximately 5% of the BTC position value. The first bond opens September 10.
Bitcoin was never going to need a second place to sit. It needed a way to earn from where it already is.
I hold $STX and have been following Stacks for the long term.
Well that didn't take long...
$STX now No.1 on @CoinMarketCap 7 day gainers and 4th on the 30 day timeframe
STX is THE beta play to BTC
MuddieToeNails retweeted
Every Stacks transaction settles with Bitcoin finality: reversing one would mean reorging Bitcoin itself. That's the settlement layer Bitcoin-native finance is built on.
MuddieToeNails retweeted
The original Bitcoin exchange @bitfinex shares a report on how Bitcoin is being put to work, with Stacks taking the first spot on the list.
Bitfinex is one of the longest standing and original crypto trading platforms, proudly representing Bitcoin.
Read the article below 1/2.
MuddieToeNails retweeted
Follow The Money.
This is how you lose your Bitcoin.
It’s a war on self-custody.
Here are a few of the players you are cheering or resisting.
Your choice.
MuddieToeNails retweeted
The Stacks community is actively shaping a clearer STX mission: attract and compound Bitcoin capital, but also turn it into real applications, users, businesses, and economic activity.
My new version after the discussion:
Make Stacks the open Bitcoin economy where capital is deployed and Bitcoin-powered applications are used by people, businesses, and agents worldwide.
Capital brings gravity. Applications bring users. Together, they create a powerful economy.
In short, STX should empower the Bitcoin Economy
I shared a framework for how @Stacks Bitcoin Capital Markets can become the foundation, not the limit, of the broader Bitcoin economy. 👇
nitter.gq/IceArcBtc/status/20854…
I love seeing the community shape this together, thank you Muneeb!
I think Bitcoin Capital Markets is the clearest category and the strongest immediate wedge. But it should serve a larger mission, not become the limit of the vision.
Perhaps the complete framework is:
Category: Stacks is the Bitcoin Capital Market.
Promise: Institutional-grade Bitcoin rails, open to EVERYONE.
Mission: Make Stacks the open Bitcoin economy where capital is deployed and Bitcoin-powered applications are used by people, businesses, and agents worldwide.
That mission brings together the strongest ideas form the discussion:
- Open and accessible to everyone.
- Productive Bitcoin capital.
- Applications with real utility.
- People, businesses, and agents.
- Global ambition.
The North Star should therefore measure both BTC capital deployed and real economic activity created. This last part is very important.
Capital brings gravity. Applications bring users. Together, they create a powerful economy.
In short, STX should empower the Bitcoin Economy
MuddieToeNails retweeted
Self custody is NOT dead.
SHUT UP!
If you believe you’ve been lead astray by being recommended using a cold wallet, you are mistaken.
When entropy is done correctly, cold wallets remain virtually impossible to hack.
Coldcard generated keys that could be cracked in minutes.
Wallets that generate keys using 156 bit to 256 bits of entropy will technically take thousands of years to crack.
And if you believe moving your crypto to an exchange is the solution, it’s not.
How do you think exchanges manage funds? Hmmm. Perhaps using a wallet?
One of the biggest exchanges in the world, Bybit, literally use Ledger wallets as part of their security protocol for users funds.
So, you can either keep your crypto in your own wallet where you maintain control and ownership.
Or you can send it to a company’s wallet where you lose control and ownership, and don’t gain anything in return.
To be clear. I am still pro self custody.
I do NOT recommend storing crypto with centralized platforms.
If you are a Coldcard user and temporarily need to move funds to an exchange, sure. That makes sense.
But the amount of influencers recommending moving your crypto to an exchange, which again, still utilizes wallets, is outright irresponsible.
Yes, what happened to Coldcard was horrible, but it doesn’t define self custody.
And don’t forget more than 1.5 Million of users Bitcoin was lost/frozen across just 7 different exchanges.
Over 1,300+ from Coldcard…
The data speaks for itself.
I’m going live today to talk about all this. I’ll pin the link to the livestream in the comments if you want to join or watch later.
- Scrilla
MuddieToeNails retweeted
We made a short visual explainer to help people understand the Coldcard bug, and what it means for the security of affected wallets.
Bitcoin's entire security model depends on a user's ability to select astronomically large numbers from a truly random set.
If you imagine every possible Bitcoin private key as individual atoms, when a private key is generated properly, the pool of possibilities is so large that it's like an attacker is hunting for one specific atom hidden somewhere across 2 billion galaxies. No classical computer could ever search that many possibilities.
Unfortunately, affected Coldcard firmware drew its seeds from a much smaller, more predictable pool. If every possible Coldcard private key was an atom, the possible set of keys would only be about the size of a large virus. In comparison, a standard computer could work through that space in just a few hours.
Our video helps visualize what this difference looks like, we hope this is helpful for everyone to establish the importance of true entropy in key generation.
We are deeply sorry for anyone who lost funds to this bug. We know several people that were personally affected, including members of the BPI team. Losing funds after working hard protect your wealth is extremely difficult.
We are developing a set of policy reflections based on this vulnerability that we hope to publish as soon as possible.
MuddieToeNails retweeted
JUST IN: Bitcoin stolen from Coldcard hardware wallet hack now exceeds $100,000,000
just wondering but where did the name ALEX Labs come from @ALEXLabBTC ? ie: what was the reason for choosing that particular name?