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64 sats \ 6 replies \ @k00b 5 May 2022 \ on: Hey stackers it's Paul from Sphinx & Stakwork, AMA bitcoin
Any generic advice for Bitcoin startups?
We do things a bit odd here: "MVB" minimum viable beta. Try to burn as little devel and support time while you try out ideas. These things take time to build on btc, so keep burn low and "days alive" long. We have zero W2 employees including me and no spending commitment greater than 30 days.
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I think there is also a danger that you can think you have product market fit because the people in lightning are so supportive and you get an initial boost. The reality is that there are a few thousand of us and not nearly enough to build a solid company yet outside of exchanges. I think of Strike with remittances as the closest app to reaching a general audience.
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Great reminder for all of us to realize the world is a big place outside of our bubble. With the macro situation growing shakier by the day, it’s a good time for founders to make sure they’re prepared and able to withstand a down turn
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This hits home. The Strike remittances example is a good one. The advantages of Bitcoin for this use case + the intense focus on a more familiar Bitcoin UX are so compelling that non-bitcoiners are willing to switch.
It really seems to require building something that's
- 10x better
- just happens to require Bitcoin to work
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Integrating more tightly with Strike, e.g. getting them to support lnauth and adding an in/out option from the SN wallet to/from strike wallet the way it works with Alby but with Strike's API (on both PC and mobile) could be some first steps. Not that you want SN to be a 'strike-extension' but to ride their coat-tails could be beneficial to attract some less technical contributors who want to talk about bitcoin
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Yo, you hire yourself as a contractor? Chad.
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