Businessman’s HOT Ordinal Takes
In an intriguing interview, @businessmaneth shared his journey from a traditional business background in healthcare to a full-blown crypto enthusiast. Having sold a company, he ventured into the crypto space through ENS domains and committed fully to Bitcoin Ordinals in February 2023. Businessman emphasized his project evaluation approach, stating, "I'm looking at, is this going to create value for the users?" The interview also delved into his criticism of projects like Quantum Cats and his practices of blocking on Twitter.
Businessman's criticism of Quantum Cats:
He took issue with the high mint price and the amount raised: "12 million for a secondary collection."
He criticized the project's approach: "We care so much about the space, to prove how much we care we are going to charge an exorbitant mint price and making you do quests to show your loyalty for these ugly cat JPEGs."
Defense of Quantum Cats:
Others pointed out that Quantum Cats is up 160% since mint, and holders are generally happy.
They argued that Udi (the founder) has a good track record and is likely to continue delivering value.
Businessman's concerns:
He questioned the ethics of raising such a large amount through JPEG sales.
He expressed worry about potential future dilution when the main Taproot Wizards collection launches.
He criticized Udi's approach and what he perceived as a "God complex."
Counter-arguments:
Some participants argued that if people are willing to pay the mint price, it's fair for the project to charge it.
They pointed out that the project is building something (Cat VM) and using non-dilutive financing.
Broader discussion:
The conversation touched on the nature of speculative assets in the crypto space.
There was debate about the responsibilities of project founders to their holders.
RunesDex: Revolutionizing Bitcoin L1 with AMMs
@RUNES_DEX discussed their ambitious plans for RunesDex, developing an Automated Market Maker (AMM) for Runes on Bitcoin Layer 1. Scheduled to launch by July 15th, the platform aims to integrate with the Lightning Network and RGB. The team is focused on decentralizing the system over time and implementing measures to prevent rug pulls and protect users from bad actors. Viktor from RunesDex expressed optimism about the project's potential to boost Lightning Network adoption, stating, "We will bring lots of transactions to Lightning."
Other key discussion points:
Lightning Network adoption and its synergy with Runes.
The importance of liquidity in decentralized exchanges.
Strategies to onboard liquidity and prevent malicious actors in the ecosystem.
Key quotes:
Businessman: "At the end of the day, I think we're all in the right space collectively. I think kind of a sky's the limit on what can be built here."
Viktor (RunesDex): "We can actually make lightning big, because like we will bring lots of transactions to lightning... Let's build on top of Bitcoin and optimize it to compete with centralized systems."
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