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Watch out: Web3 VCs started pouring into bitcoin/lightning startups
80 sats \ 10 comments \ @starbuilder 9 Apr 2022 bitcoin
  1. Lightning labs announcing $70 M round and focusing on TARO assets while the community was asking for support of BOLT12
  2. Samson Mow starting JAN3 and announcing $21M round
  3. Strike was solving real world problems last year at El-Salvador but now solving the payments solution and partnering with NCR
  4. So many new companies spending VC dollars in marketing to solve the same problems already solved
  5. Industry day pitching competition included so many exchanges/wallet companies who's focus is to make money on exchange rates rather than solving UI/UX issues
Anything else I am missing?
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24 sats \ 1 reply \ @TheBTCManual 9 Apr 2022
I think it depends on the type of Vc, if you're raising with the likes of a16z you're bound to turn into shitcoining like that litenight did moving to solana after getting funding but if you're funded with bitcoin only vc, then they encouragment to shitcoin is far less
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11 sats \ 0 replies \ @starbuilder OP 9 Apr 2022
agree with you on changing the focus to shitcoin...! but mostly they push the company in the money making direction rather than build tools and services to help the need..!
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160 sats \ 2 replies \ @k00b 9 Apr 2022
Only (1) seems like it might be related given that Taro is a protocol for adding other assets.
2 and 3 don’t seem related. Both those announcements are strictly good for Bitcoin. 4 is common in any market that’s beginning to emerge. 5 - exchanges are the most predictable way to make money in the space so I’m not sure there’s much relation.
I don’t think we can tell who is investing based on what the companies are doing because it’s so early. It would be better to look at raise announcements and actually see if the investors have misaligned incentives with Bitcoin and then maybe connect it with company direction.
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15 sats \ 0 replies \ @jeff 9 Apr 2022
tl;dr This is good for bitcoin.
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10 sats \ 0 replies \ @starbuilder OP 9 Apr 2022
agree it is early...! it is like a ship changing direction.. very slow and you don't know until it happens.. That is why we need to watch out for and call out when it happens.
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11 sats \ 1 reply \ @timechain 9 Apr 2022
Yeah, VC's tend to want to make their money. Does anybody know how Samson plans on making money off of orange-pilling jurisdictions?
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11 sats \ 0 replies \ @starbuilder OP 9 Apr 2022
yes. it buys them access..! You saw billionaires and companies raiding El-Salvador after the announcement...! It is the same thing. Samson probably working with bunch of other countries we don't know/ By the time the announcement comes out in the next bitcoin conference, the area will be divided among elites who got access...!
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10 sats \ 0 replies \ @spraveenitpro 9 Apr 2022
What could go wrong? /s
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5 sats \ 1 reply \ @jeff 10 Apr 2022
Might as well add Impervious.ai to the list.
I'm curious how they expect to make money.
The investors are Ten31, Trammell, and "Strategic Cyber Ventures".
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3 sats \ 0 replies \ @starbuilder OP 10 Apr 2022
100%
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