Watch out: Web3 VCs started pouring into bitcoin/lightning startups \ stacker news ~bitcoin

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Watch out: Web3 VCs started pouring into bitcoin/lightning startups

80 sats \ 21 comments \ @starbuilder 9 Apr 2022 bitcoin

Lightning labs announcing $70 M round and focusing on TARO assets while the community was asking for support of BOLT12
Samson Mow starting JAN3 and announcing $21M round
Strike was solving real world problems last year at El-Salvador but now solving the payments solution and partnering with NCR
So many new companies spending VC dollars in marketing to solve the same problems already solved
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?

24 sats \ 3 replies \ @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

11 sats \ 1 reply \ @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..!

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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160 sats \ 5 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.

15 sats \ 1 reply \ @jeff 9 Apr 2022

tl;dr This is good for bitcoin.

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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10 sats \ 1 reply \ @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.

0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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0 sats \ 0 replies \ @247bf84fda 25 Aug freebie

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11 sats \ 3 replies \ @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?

11 sats \ 1 reply \ @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...!