Hi everyone! I am @bradmillscan, long time Bitcoiner and angel investor in Bitcoin companies.

I'm host of the Magic Internet Money podcast (bradmills.ca/podcast) and run the Pleb Ventures group, which is a group of Bitcoin-only angel investors & VCs deploying capital to the Bitcoin-only ecosystem.

I am also known for being the Peter Schiff of DeFi as I'm very critical of Ethereum & Crypto generally, while I spend a lot of my time using other blockchains & also investing in that ecosystem to have a deep understanding of not just Bitcoin but everything going on in the crypto ecosystem.

One thing I'm super excited about right now is Geyser Grants, which is an initiative I co-founded recently with the Geyser.fund team to help fund Bitcoin culture by supporting Bitcoin-only creators (artists, musicians, podcasts, books, etc) as well as developers & educators globally.

AMA!

What opportunities do you see for entrepreneurs to build bitcoin-centric companies, or put another way, what gaps in the market most need to be filled?

I think there's a lot of opportunity to build in the Bitcoin gaming space.

Bitcoin for boomers.

Converting home equity to Bitcoin (diversification as a service)

Bitcoin security tokens.

Bitcoin DeFi on Liquid Network.

Decentralized exchange applications using the upcoming decentralized web stack that bitcoiners are building (synonym's slashtags, Tether's hole punch, Block's TBDEX, webs of trust)

Integrating with Fedimint.

Building Bitcoin-only & BItcoin adjacent exchanges & onramps that prioritize privacy & peer to peer.

Those are a few.

Thanks. I've been thinking about where to invest my energy for my next thing and I'd like it to be in bitcoin. πŸ™ŒπŸ»

110 sats \ 1 replies \ @Kukks 28 Jul

What's your take on Liquid?

I'm a big fan of Liquid network for things like game assets (I'm an investor in Infinite Fleet) https://twitter.com/InfiniteFleet

I am following the guys from Vulpem and what they are doing with Fuji https://twitter.com/fuji_money

They are building covenants (a form of smart contracts) for Bitcoin which not many bitcoiners are paying attention to yet https://twitter.com/adam3us/status/1552099964603564032?s=20&t=_k0aM0esfzi2kPyZ5IeSoA

You should also follow what James Wallace is doing with Digitl and security tokens, that's a huge opportunity. https://twitter.com/ijameswallace/status/1527809935827927041?s=20&t=_k0aM0esfzi2kPyZ5IeSoA

If you would have a time machine and you could go back in time (but no more than 15 years), what would you change? (only one option)

  1. Buy/mine more BTC in 2010
  2. Stop the mess and inside job of Mt.Gox
  3. Educate more people about BTC in 2010-2012
  4. Change BTC code to be more than 21 M :)
  5. Other crazy shit you can do with a time machine. Please specify.

I think I would buy more Bitcoin and not sell it.

That way I could be more effective with my investing now.

MtGox actually taught us a very valuable lessons of not trusting insiders via "don't trust, verify" culture & "not your keys not your coins"

The 21 Million meme is very strong, I don't think it needs to be changed.

Educating more people in 2010-2012 is not necessarily needed ... waves of adoption make sense to bootstrap Bitcoin to be a global reserve asset over multiple decades.

Yeah, I think I'd want more BTC myself so I could fund more bitcoin development & research etc.

I like your answer!

117 sats \ 1 replies \ @sagaz 28 Jul

Geyser is a global crowdfunding platform that helps Bitcoin builders and creators to fund their ideas.

Also I read about Bitcoin Education and adoption in Nigeria, Geyser have plans to expand to another's Africans Countries?

Ty!

Yes, the Geyser team built this actually because a lot of countries can't access crowdfunding tech ... Bitcoin makes it so that the barriers to crowdfunding are removed.

Also, Bitnob has a crowdfunding platform for Nigeria that they'll be launching soon.

136 sats \ 1 replies \ @sb 28 Jul

How can we improve financial, history and Bitcoin education in languages other than English to reach those that need it the most? How can Geyser Fund help in the developing world (specifically a market like India which has a large, young population)?

Check out what Anita Posch is doing with Bitcoin For Fairness on Geyser: https://geyser.fund/project/bitcoinforfairness

Then look what Guantai is doing with Bitcoin Mtaani: https://twitter.com/BitcoinMtaani

Paxful is doing "Built with Bitcoin" https://twitter.com/LordFusitua/status/1527808527950942208

Hope House in El Salvadro https://twitter.com/natbrunell/status/1493746280157401088

There's lots of people trying to translate bitcoin materials into other languages & build community banking in developing communities.

I think doing more of that is the way to go!

Thanks for doing an AMA! Whether DeFi, Bitcoin, Lightning, etc, what kind of data is most interesting and valuable to you when looking at adoption, use cases, or overall success?

It's hard to value anything on crypto because it'a all incentivized growth with honeypots & perverse incentives.

All of the TVL & users on "crypto" are paid to be there.

The growth of Lightning Network is natural, altruistic usage - I value that a lot more.

I take sentiment from all sorts of places.

Does that make sense?

That definitely makes sense on the "crypto" front.

On Lightning growth, adoption, and usage - what kind of sentiment are you referring to?

I see you invested in Galoy - are there some data points there or other anecdotes or overall data you are looking at when telling people about Lightning, its adoption, and its evolving success?

One of the things i'm most excited about for Lightning is Square / Cash App.

The fact that the square / cash app team is focusing on lightning network is very bullish for the future of money.

They have distribution.

millions of merchants and tens of millions of users are going to be exposed to bitcoin and decentralized web thanks to Jack and team.

Thanks, it's really inspiring to see all of the work they are doing for everything in the space (and with the massive distribution to play those cards) πŸ™

can you post a YT video of your best vitalik buterin impression?

what's youtube?

105 sats \ 2 replies \ @k00b 28 Jul

What are the main things you look for when investing in companies?

I look for impact on bitcoin adoption globally & impact on Bitcoin culture.

If someone is building something in another part of the world that's meant to onboard people to Bitcoin as a savings technology or peer to peer cash to help protect them from the collapse of the fiat system, I'm very excited to invest in that.

Things like Galoy Money, Bitnob, Bitcoin Mtaani, etc ... global bitcoin impact startups I like to invest in.

There are some projects that would otherwise fit that, but they are shitcoin-related.

For example, Kotani Pay (Celo, cUSD stablecoin), and World Mobile (Cardano, plus their own WMT token).

Unfortunately, no bitcoin equivalents for those.

Cory Klippsten just asked this on Twitter:

What are some ideas to help ONE MILLION people go from standing start to Bitcoiner, skipping "crypto" diversions completely?

Would you have a response to that?

Why do Bitcoin VCs invest in risky companies instead of simply buying bitcoin for better risk reward?

Curious to know what you look for in a project before investing? Significant traction already, a proven track-record, or just a badass business plan?

What advice would you give to those looking to:

  1. start a career
  2. to build a startup

...in Bitcoin? Particularly those without the best dev skills

What would be the best way to stack sats in Canada, with support for Canadian banks?

Hi Brad thanks for doing this SN AMA.

What kind of music do you listen to? What are some of your favorite albums?

Also...do you think ARRR is more sound money than BTC?πŸ˜‰

Thoughts on privacy coins? ARRR, XMR etc?

What's the most promising project in the Bitcoin DeFi space right now?

100 sats \ 2 replies \ @sagaz 28 Jul

I'm planning visit Canada soon, do you recommend extending my trip until Cape Breton Island?

yes and DM me we'll get some cape breton pizza

Definitely I will, ty Brad!

100 sats \ 1 replies \ @sagaz 28 Jul

What's your thoughts and the main target about Bitcoin Genome Project?

Hey Brad! I've talked to a few investors and business development people in the Bitcoin space that are super skeptical about the long term viability and business models of a lot of the bitcoin only startups today. What do you think are some of the most promising business models in Bitcoin today outside of mining/exchanges?

https://stacker.news/items/50782

There's a lot of opportunity ... we're only at 5% max penetration right now.

If you have any ideas, feel free to reach out to becca on twitter and we can setup a call https://twitter.com/BeccaAmilee

100 sats \ 1 replies \ @kr 28 Jul

are there any books that have meaningfully changed your view of the world?

Reminiscences of a Stock Operator Tao of Seneca Humans Need Not Apply The Price of Tomorrow Blood Meridian

Hi Brad. What is your bitcoin origin story?

I heard about Bitcoin in 2011 from a youtube video at $5 and instantly recognized how awesome it was that you could have a censorship resistant peer to peer cash system that also acted as a digital gold for the internet.

I came in through the Ron Paul / Occupy Wall St era of post-bailout angst & rage.

I looked at Bitcoin as both an exciting new technology and a protest / activist mission.

I fancied myself a trader though, and when BTC pumped to $30 I sold half, then a couple years later I lost a bunch more in MtGox, and lost on a cloud mining scam a couple years later.

Over the years I've learned a lot more about risk management and thankfully I've had enough conviction on where Bitcoin is going, so I'm still here despite all the mistakes I made!

That's why I only advocate for Saving in Bitcoin.

Reminds me of Eric Cason. Wow, ok rough ride. Great you made it through. Looking forward to Geyser. I applied for a grant a few weeks ago. Thank you for bringing that platform into existence.

What kind of company specific financial metrics and growth rates are most important to you as an investor at this stage of bitcoin adoption? How do you look at balancing investments in specific companies vs any expected returns on bitcoin the asset?

I really look at most of my investing as a way to strengthen network effects of Bitcoin. I really don't think I'm going to beat bitcoin gains over the next 10 years with VC investing - I'm doing it to help strengthen the fundamentals of Bitcoin so that my Bitcoin position is more valuable over the long term.

I've been curious about this question for some time, thanks for your transparency. And thanks for pushing forward the whole ecosystem and everything it represents - and the btc price along the way :)

who do you vote as the bitcoin maxi most likely to be related to the Buterins

Jason Williams

What’s the fastest way to attain and stack 1000 Bitcoin in my cold wallet?

Did you hear about that guy who lost thousands of bitcoin in a landfill? You could start digging.

100 sats \ 1 replies \ @k00b 28 Jul

What's something you disagree with nearly all Bitcoiners on?

I disagree that "there's nothing interesting being built on other blockchains" that most bitcoiners believe.

I think that's burying your head in the sand.

We should definitely try to cope better with the rise of other blockchains, figure out where the valuable things are and put those on Bitcoin layers.

There's better ways to criticize what's happening in crypto - there's a lot to criticize, but there is some actual legit things being built there that we need to acknowledge if we want to have better arguments.

15 sats \ 1 replies \ @k00b 28 Jul

What's your favorite thing you've funded with Geyser Grants?

Round 1 of Geyser Grants is just wrapping up now, there's still 2 days left to make a submission!

https://geyser.fund/grants

There's 60+ applications so far, Giacomo Zucco and others will be helping me and the Geyser team go through all of the applications in August to award sats.

If you have a website/tech business but you want to pivot to supporting bitcoin and laying bitcoin into the product what are your tips for doing so without alienating your current user base and how do you attract funding for something that is deemed as a "risk" to many

Damn I missed this but Brad I passed you on a geyser fundraiser! Yup I DID DAT

Can you tone down that Canadian accent?

It hurts my ears

Thanks for doing this!

Can you share any stories of terrible or scammy pitches you’ve witnessed first hand? πŸ˜‚

I just love your geyser.funds

Incredible initiative

Shitcoiner in the sheets...gross

Anyway, question, do you only fund software companies?

no, I also support media & education, as well as art & culture.

Love the BTC focus.

Is "sheets" a reference to paper money?

no it's just a take on a popular (or so I thought) saying.