Michael Levin⚡️

previously product @lightning, @google | @Wharton @PennEngEntrep | fix the money. fix the world.

[Michael Levin⚡️ @MichaelLevin]

Predict the size of the seed round that Jensen raises for his new company in 6-12 months

[Michael Levin⚡️ @MichaelLevin]

@marksuman @MartyBent 👀

[Olaoluwa Osuntokun @roasbeef]

lnd v0.21.8+v0.20.8 have been released!

⚡️ https://t.co/Q140MNfUD9
https://t.co/xC1UPMN6QC
⚡️

this release contains a number of important bug fixes, p2p stability improvements, on-chain sweeping improvements, and more!

as usual we recommend that all users update 🛡️

[Michael Levin⚡️ @MichaelLevin]

I honestly think we’re mostly in agreement! We might be talking past each other with regard to some semantics, which 1) I view as not that important to my actual point above 2) X is not great for nuance.

A “stablecoin balance” moved over LN using atomic swaps (for either send or receive) still increases LN volume/traffic unless I’m misunderstanding something? My point is simply I think the LN volume grows with more stablecoin “usage” on LN, whereby usage to me simply means that from a normie user perspective it appears that they can seamlessly send/recieve stablecoins over LN. That can be accomplished with more native flows (Taproot Assets), atomic swaps, last mile solutions like Wavelength, Spark, etc.

[Michael Levin⚡️ @MichaelLevin]

I believe…

Bitcoin is one of the most important technologies of this century.

Lightning is the best payment network architecture in existence.

The next stepwise jump in Lightning Network volume will come from enabling stablecoins.

💸⚡️

[Michael Levin⚡️ @MichaelLevin]

@roy_breez In simplest and UX focused terms, I think the next big jump in LN volume comes when users can use stablecoins/dollars to pay LN invoices or recieve stablecoins/dollars over LN. At scale.

Cash App/Strike have/had versions of this, but it’s custodial and limited geographically.

[Michael Levin⚡️ @MichaelLevin]

@roy_breez Did I say “on Lightning”? 😉

The quote: “The next stepwise jump in Lightning Network volume will come from enabling stablecoins.”

How does the stablecoin infra work in Breez? I assume it’s possible to have stablecoins and send them “over LN” (through some conversion?).

[Michael Levin⚡️ @MichaelLevin]

@roy_breez 1) I don’t really disagree with this? Not sure it’s relevant.
2) They certainly can. They haven’t at scale.
3) There are last mile solutions that can plug into LN, which you’re intimately familiar with because you use them :)

Curious, why did Breez prioritize stablecoins?

[Michael Levin⚡️ @MichaelLevin]

You’re right! Stablecoins are tablestakes for most fintech apps. The economic activity associated with that goes to non-bitcoin businesses and other chains. That’s a lot of economic activity.

I want the most users possible to have access to bitcoin. I also think it’d be beneficial for the Bitcoin ecosystem to be able to capture some of the economic activity associated with these use cases rather than ceding it all to shitcoin chains and businesses.

[Michael Levin⚡️ @MichaelLevin]

@bergealex4 The best builders prioritize what their users want. Users want stablecoins. Builders prefer a single infra stack rather than bolting on ETH/Tron infra to a BTC/LN stack.

Benefit: Enabling builders to more easily create compelling user experiences on Bitcoin/LN.

[Michael Levin⚡️ @MichaelLevin]

@bergealex4 You don’t think it matters at all what developers building on Lightning and Bitcoin want?

[Michael Levin⚡️ @MichaelLevin]

@bergealex4 From talking to users, developers, and companies, there are countless benefits. But, let’s start with 2 questions to see if we’ll just have to agree to disagree.

1) Do you think users want stablecoins?
2) Do you think developers building on BTC/LN want to run ETH/Tron infra?

[Michael Levin⚡️ @MichaelLevin]

@BigpictureBTC 💯 Stablecoins enable a competitive product for agentic commerce and payments

[calle @callebtc]

around 99% of my bitcoin lightning payments settle successfully within 2 seconds, and that's been the case for over 5 years.

lightning haters are either hallucinating or they're trying to sell you some shitcoin.

[Michael Levin⚡️ @MichaelLevin]

@Hello_World *see the 🤦‍♂️

[Michael Levin⚡️ @MichaelLevin]

@Hello_World Congrats on 1.0! Incredible product that I use regularly, excited to the continued development!

[Michael Levin⚡️ @MichaelLevin]

@awayslice @gladstein @BrandSanderson couldn’t recommend any higher. though i read them, didn’t do audiobooks.

[Michael Levin⚡️ @MichaelLevin]

geaux tigers 🐅

[MacroScope @MacroScope17]

A huge print is starting to come into view. We’re obviously not there yet, not even close, but the eventuality is taking shape.

Traders should be developing a gameplan in advance -- things to keep on the screen and an understanding of historical precedent.

Before a print happens, there can be a window in which inflation protection can be bought cheaply, because protection initially gets sold along with everything else. A good template for this (and everyone should get familiar with it) is gold’s decline in mid-late 2008, then its surge over the next few years as the Fed’s policy response to the crisis took hold. And note: In 2008, gold bottomed before stocks.

The main questions in these situations are timing and price: How long does the window stay open for acquiring protection before a policy response takes hold, and how cheap does protection get?

Big prints are rare (and history doesn’t repeat exactly) so there are no set answers or rules. Gold and BTC may have already seen most of their selling. But if opportunities do develop, investors with dry powder will be best positioned to take advantage of them (as always).