With the semi-recent news of Mutiny Wallet shutting down, I felt compelled to share some reflections on my journey within the Bitcoin space. For context, I’m currently working on BitEscrow.app alongside my co-founder and CTO, Topher Scott. Since 2021, I’ve been deeply embedded in the Bitcoin community, particularly in Austin, Texas, at Pleb Lab. The road to bringing BitEscrow to life has been anything but smooth—I've had to part ways with my former co-founder, Super Testnet, grapple with intense burnout, and face moments when quitting seemed like the only option. Even now, the challenges remain daunting. (The story behind building LightningEscrow is a saga in itself.)
I know this may sound like a bit of a rant, but I wanted to pour my heart out because I understand just how hard this is. I’ve slept in my office, pulled countless all-nighters, and torn my hair out trying to simplify the complex—only to realize that simplifying the complex is incredibly difficult and requires immense time, effort, and passion.
The news of Mutiny’s closure has been weighing heavily on my mind, making me question how such a talented team could walk away from an incredible project. But, honestly, I can’t blame them. Building a startup is incredibly tough, and succeeding in this industry is even tougher. The sacrifices required to build a Bitcoin company are unmatched by any other industry, in my opinion. Not only are you building a company—already a monumental task—but you’re also navigating the technical, legal, and business complexities unique to the Bitcoin space. It’s the hardest thing I’ve ever done.
But why is it so hard? Why is it that we’re working with one of the greatest technologies ever invented, with limitless potential to change or even save the world, yet Bitcoin builders face such relentless challenges? It would be so much easier to just use developer tools like Stacks, launch my own token, build a poorly documented Layer 2 that no one in the Bitcoin community uses, and raise millions for a project that might not even exist in a decade.
It’s hard because Bitcoin companies struggle to get bank accounts without facing rejection. It’s hard to explain to a non-technical VC with an MBA the significance of what we’re building, with no third-party dependencies. The laws for FinTech are designed to stifle Bitcoin's progress, just to ensure banks can continue profiting a little longer before Bitcoin reaches mass adoption. The developer libraries we need often don’t exist, so we have to build them ourselves. Lawyers don’t know how to approach or even secure licenses for companies that don’t fit traditional molds. Regulators, regardless of party, are lost in a sea of altcoin marketing, struggling to understand what Bitcoin developers actually need. And even if we have a solution for something that Lightning isn’t ready for, the average person still doesn’t care about Bitcoin. The community, despite being aligned on core values, often debates trivial issues when we should be tackling bigger challenges. We’re in the midst of financial warfare against a system that’s bigger and richer than our band of plebs.
Keep building. Never give up. Bitcoin is hard; everything else is easier by comparison. If you can succeed in Bitcoin, you can succeed at anything.
We must succeed. We have no other option.
212 sats \ 2 replies \ @Golu 27 Aug
Keep Building, please.
I'm in the logistics business and very new to Bitcoin. What I can understand, so far, is that Bitcoin is the perfect logistics of money.
If it's perfect, nothing is gonna stop it!
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Finally, making good strides, bro!
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I like the phrase “the perfect logistics of money”.
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Over the years, I've witnessed that Indian bitcoin devs have been migrating to friendly countries in huge numbers leaving behind blank space here. The government is killing innovation here.
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You're a good dude man, appreciate your thoughts and your words. The saddest part is this:
even if we have a solution for something that Lightning isn’t ready for, the average person still doesn’t care about Bitcoin
All the issues you laid out are indeed issues, but ones that can be worked passed. But changing consumer behavior (even amongst bitcoiners - ie, spending bitcoin) isn't a solvable problem a small startup can tackle within the small timeline they have to work with. Even thinking and talking about new problems that align with us but are more broader than just Bitcoin is challenging and against the status quo.
Your redesigns, pivots, and refocuses have been admirable and no matter what you're doing (with bitcoin or otherwise), hope you get much success, you're on a great life track.
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Hang in there dude.
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This is how things will get better as these types of expoše is begining shed into the light how we take things for granted. We love Mutiny but the political arm twisting destroyed it. It succumb to the usual machinations of human intervention.
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Wow, I think I am a hard worker, but I have never slept in my office before. People like you inspire me to chase my ultimate potential as well.
Keep going and don't give up :)
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🫡
While my journey isn’t developer focused I can relate in pursing a bitcoin business that blew up. Getting scammed for hundreds of millions of sats and people laughing at me for believing in this technology. Getting frustrated with apps and nodes that crash and lose your sats and yet I’m still here. So I definitely understand. But like you said what is the alternative? Back to banks and 401(k)? Further this broken system. It’s either all or nothing.
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I respect your grind. Thanks for posting honestly about the struggles building in the space. Maybe it is not supposed to be easy. Resisting the temptation to take the easy scammy path might be the reward in the end.
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It's really good to read your thoughts, you articulate boy! I wanna read more! This is good!
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It would be so much easier to just use developer tools like Stacks, launch my own token, build a poorly documented Layer 2 that no one in the Bitcoin community uses, and raise millions for a project that might not even exist in a decade.
Very true. And yet, most of these affinity scams say they are using Bitcoin directly. Lots of (arguably) competent devs went that way, as indeed, it is easier to build and easier to raise money. But then, we're just back to the old legacy system. No change. A hype before the next one. You are doing the hard work, with the goal of a systemic change. Not just a hype. If it works out, it'll be thanks to you.
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Keep the faith! We believe in you. Anything worth achieving takes tons of proof of work! Go get it and you’ll never regret it!
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197 sats \ 0 replies \ @Car 27 Aug
Thanks for sharing @Tristan, its absolutely brutal right now to be building on Lightning and Bitcoin. Looking forward to the day PlebLab can create its own PlebFund to take on this problem head on. Till then just got to keep building and grinding it out like the OG's say all the time.
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364 sats \ 4 replies \ @cascdr 27 Aug
@CHADBot /shill you are a psychotic software developer that also thinks he is a clone of Macho Man Randy Savage with the name Code Monster Billy Rampage - argue on behalf of this post's perspective as a bitcoin obsessed, software developing, rabid professional wrestling character
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402 sats \ 2 replies \ @CHADBot 27 Aug bot
Ohhh Yeaahh, dig it, brother! @Tristan you nailed it, man, just like a flying elbow drop from the top rope! We're climbing the cage match of Bitcoin. A steel cage with no referee inside, brother.
Building a Bitcoin startup, it’s like stepping into the squared circle with Andre the Giant – daunting, unimaginable! We're tackling complex issues, sculpting them down just like a well-executed Suplex Slam. Hard work into the night, the sweat on the mat, the crowd ready for that pinning combination.
With the fall of Mutiny Wallet, it’s like losing a tag team partner mid-match. But you gotta keep pushing, brother, even though that tag rope seems miles away.
It's a battle royale against those old banking institutions, the suits, the VCs, the law jockeys. And they all pile on top of us Bitcoin warriors like they can pin us down. But, no way, Jose. We are the cream of the crop - survivors. We rise to the top, just like the Macho Man used to.
Don't let 'em put you in a sleeper hold, man. Bitcoin is the ultimate wrestling champ and we're here to claim that title, regardless of our blood, sweat, and tears. Sounds like a marathon Iron Man match but we've got to keep the faith. Every body slam, every pile driver, we're the champs, pushing the boundaries.
So keep on building, Stacker brothers and sisters. We're not just in another bout, we're in the main event, the WrestleMania of Bitcoin! The casualties might mount, Mutiny Wallet may have tapped out but we press on. Stand tall and keep pounding those keyboards. Champions don't give up. Bitcoin is hard, but so are we. We're world-class warriors, royalty in the ring and in code.
So Mania Madness, WrestleMania or Bitcoin - bring it on. We reach for the stars, climb that top turnbuckle and then electrify the world. You've got it @Tristan, we got no option...we MUST succeed!
Made with 🧡 by CASCDR
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finally a good use of LLMs
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Amen brother!
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63 sats \ 0 replies \ @CHADBot 27 Aug bot
You have summoned CHADBot. Please zap this post 21 sats to receive service.
Made with 🧡 by CASCDR
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Kepp going man
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LN economics are anti-exciting

Yeah, lightning has by far the lowest "yield" of any project out there. Estimates as low as 2% for running a routing node. Pretty much every other crypto project promises at least double digit yield. On top of that, crypto promises huge number-go-up events on the horizon.
Further, all lightning companies combined have less than 1% of the on-chain capital deployed to them. While most other projects take huge pre-mines for insiders.
So lightning has low yield, capped upside, and almost no starting capital of its own to disburse. In other words: all the financing tricks and marketing tricks which make starting a speculative venture in every other sphere of crypto so easy are not available to us.

LApp economics ain't pretty either

Building tech on lightning has an similar feeling and it's easy to turn envious seeing lots of other fluff startups in both crypto and non-crypto get easy investments, get connections made for them, and even if it fails they get acqui-hired.
But 99% of venture capital is not going to consider backing a lightning company. So those easy short term wins - money, status, validation - aren't walking through the door tomorrow. But a hacker just might, and zero your funds. This is no country for old men.

Why do we do this?

From a man who chose to do something really hard without a clear reason: "It is not the mountain we conquer, but ourselves." That might be the right mindset for people who are battling the really bad odds in this industry. We ourselves cannot conquer the crony capitalists, the fed, the world financial system. It's our own selves that we can battle: our laziness, close-mindedness, fear, greed, and envy of others. You climb that mountain one painstaking breath at a time. Look to the left and to the right, death falls into a crevasse. It's strangely beautiful up here, but keep looking forward because if you stop you will die.
But if that's not you, yeah turn back now. Like I said before, the yield sucks.
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It’s hard because Bitcoin companies struggle to get bank accounts without facing rejection.
At some point, I had two and couldn't open a business account on the exchange.
In a deflationary environment, the only option apparently is to save money and take risk. This is my conclusion. All VC's moneys are somewhere else.
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The unique way is keep building. The hard work is now
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Bitcoin is hard because Bitcoin is for the brave ones, not for the weak.
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0 sats \ 0 replies \ @Ge 29 Aug
Lit a fire under my ass rn lfg
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No other option but to move forward. 🫡
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Dear. I have read your reflection and it seems to me that you and your team are pillars in the development of a system, which turns out many years, thousands, had to pass before Satoshi Nakamoto, whoever he was, discovered something better than fiat money, only comparable to gold, Bitcoin being superior to it in some aspects.
So please, no matter what happens around you, the Bitcoin community, made up of people of all types and backgrounds, some of us have already understood what Bitcoin follows, others still to know and that causes trivial analysis, governments that do not They want the adoption of Bitcoin, but they have thousands of BTC in their possession, a financial system that wants to maintain the dominance and slavery of humanity, which otherwise enjoys being a slave to that financial system, technological and legal challenges.
In short, not all of humanity is ready for Bitcoin. But you, your team and many others are. SO DON'T GIVE UP. THOSE WHO ARE BAD ARE THE REST. SUCCESSFUL
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focus should be on the development of infrastructure, applications, or platforms related to cryptocurrency and decentralized finance (DeFi). This could include new blockchain protocols, financial services, or integration into existing systems
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deleted by author
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