⚫️ Alvin LL ✴️ 🔶

Family | Faith | Freedom | BTC | 允執厥中 | FIGHT✊🏻 | INTP | HK🇭🇰 | MPC Wallet | Physical AI

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

@myrawang0 共享做中国人的榮耀。🤡

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

@Andr3jH Both are great, not necessarily to pick one.

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

When BTC Price drops by 37.72%.

[kira 👾 @kirawontmiss]

wtf happened to him😭

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

@Mike_Banana 對得起財神爺了嗎？🤡

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

「高息理財局」。

[AB Kuai.Dong @_FORAB]

结束了，全都结束了。

一位名为 betoor619 的老哥，在昨晚拿 100 万美金，押注西班牙会战胜佛得角，当时西班牙获胜概率为 92%，但因为最终爆冷平局，这笔钱蒸发了。

他此前习惯押注，胜率极高的队伍，所以老哥胜率极高。

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

目前在走的股票代幣化是被中國強監管的中國用戶扭曲而成的需求。說穿了就是監管套利。

[加密韋馱｜Skanda 🔶 @thecryptoskanda]

未来某一天我们回头看今天这次交易所IPO打新

才会大概率意识到：

股票代币化是Crypto里做RWA生意的一段历史弯路

是一种没有问题，创造问题的产品逻辑

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

@thecryptoskanda 哈，Crypto行業走過的彎路還少嗎？

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

@fez22204764 @ajoey91_ 獸醫不能算low和低調吧？
香港這邊貓狗看一次醫生少說幾千。

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

@ChinaTruth 一眼AI, 水花、盾牌、跌落，都不符合物理定律。

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

@tangjinzhou 說明不是直正的Fable?

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

估計很快會有人做 $SPCX 和 $RKLB 的pair-trading 了。

[美股仙人 @hanking66]

今天很多人抛弃旧爱追寻新欢，RKLB 直接跌了7%。一度甚至到了99元，记住这个价格，很快会有50%的收益。😂😂

不过我想说的是另一件事，由于SPCX和RKLB之间的巨大市值差异（2.2万亿 vs 600亿），这让我想到了另外两兄弟：MU和SNDK。MU 无论从业务和市值看妥妥的大哥，市值万亿，SNDK 则是小弟，市值约3000亿。今年大哥涨幅259%，小弟涨幅744%，我一直在寻找原因，很多人告诉我那是因为小弟市值小😂，所以…🤔

我今天帮RKLB说了不少好话，但有一点，我不是踩一捧一。看好太空赛道的我，不可能不看好SPCX，如果价格合适我也会买，只不过RKLB今天真的挺惨的。😇😇

Buy the dip，长期持有，Discord在个人资料。

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

@giantcutie666 人間慘劇

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

CPI落地了沒爆雷，但回調的風險還沒結束。

數據方面，明後天有PPI、失業金申請人數、通脹預期、消費者信心指數等。

伊朗戰爭方面要關注協議是否能在這幾天內達成。

下週更有Warsh上任美聯儲主席後的首個FOMC會議，市場關注的風險點有 1. 美聯儲內部的分歧 2. 鮑威爾是否會成了美聯儲的影子主席從而影響美聯儲內部決策的一致性 3. Warsh對中性利率的判斷 4. Warsh對後續息率路徑的演繹

基本上下週的FOMC會議會決定在下個財報季來臨前的市場情緒。

[大老师Bugsbunny ｜DRAM UP only @octopusycc]

SPX在CPI符合预期后依然陷入极度的防守
整体的负Gamma程度更强了

这周大家可以休息了

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

@bubbleunoffical 市場是非理性的，牛市後期由散戶和槓杆主導的市場更是如此。

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

@wangchangfu88 韮菜來炒幣就行，大佬炒甚麼幣。

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

中本聰當年發明比特幣的定位是一種電子貨幣系統，後來 @VitalikButerin 發明了以太坊，說世界計算機及智能合約的故事。

比特幣作為區塊鏈的電子貨幣應用，市場更關注的是它作為價值儲存的純粹性。甚至連其支付屬性都未被大規模應用。而比特幣可編程性的故事到此似乎暫告一段落了。
之前一堆比特幣二層方案，不知道後續發展怎麼了。
聽說部分團隊已soft rug 魔轉AI賽道了。

@BitlayerLabs @Stacks @MerlinLayer2 @build_on_bob @BSquaredNetwork @fractal_bitcoin @BTCLayer2 @Liquid_BTC @alt_layer

[Botanix 🕷️ @botanix]

It is with a heavy heart that we announce we are winding down the Botanix network.

This decision is the hardest one we have made in four years, and we want to share the reasoning openly because the people who backed us, built with us, and used what we shipped deserve more than a quiet shutdown notice.

First off, an immediate practical consideration for the Botanix community: please withdraw your Bitcoin and other assets before July 9th, 2026.

When we started in 2022, the pitch was simple enough to say in a sentence: bring real utility to Bitcoin. What that actually meant in practice, and what we have spent nearly four years building toward, was more ambitious than that sentence made it sound. We were trying to build a Bitcoin-based blockchain that could find genuine product-market fit as a platform for Bitcoin applications, without using token incentives to drive growth, manufacture users, or simulate utility. Almost every chain that has launched in the last cycle has reached for the same playbook (issue a token without PMF, engineer the incentive surface, point at the resulting metrics), and we did not believe this route is a viable strategy in the long term. We wanted to know whether a Bitcoin chain could earn its users on the strength of what was built on top of it, the value it brings in the market with Bitcoin itself as the only meaningful economic primitive in the system.

And we built it. The Spiderchain went live and stayed live, a year of mainnet operation with one hundred percent uptime and zero security incidents on a genuinely novel cryptographic architecture. We built Dynafed, a dynamic federation that turned the Spiderchain from a static multisig set into a rotating, decentralized one, the technical milestone that most people in this space said could not be built on Bitcoin without compromising trust assumptions. Twenty-five million transactions, two hundred thousand wallets, and tens of millions of dollars in assets moved across the chain, every single number of that earned organically without a token, without airdrops, without points programs, or any of the manufactured-demand machinery. Chainlink, Morpho, GMX, Dolomite, Fireblocks, Alchemy, Galaxy, OKX Wallet, all integrated. We shipped a Bitcoin neobank with BINK on iOS and Android, with self-custodial email login for Bitcoin (something that had never existed before), native Bitcoin yield, and the lowest borrowing rates against Bitcoin anywhere in the world, all of it downstream of owning the infrastructure. The point of saying this is not to argue with our own conclusion. The protocol works, the product works, and our team and ecosystem worked in concert to do exceptional work.

We have run this experiment in earnest, with a working protocol, real applications, and a serious team, for over a year on mainnet and nearly four years in total. The honest answer we have arrived at, after living inside it every day, is that it did not work, at least not in this market and not on this timeline.

We want to share what we think we learned, with the caveat that some of this is conviction and some of this is still suspicion, and we would rather be transparent about the difference than pretend to have clarity we do not have.

The first thing I've had to sit with is timing. Bitcoin utility, making Bitcoin programmable, productive, and integrated into real financial activity, isn't where the real world users sit right now. The conversation is still on Bitcoin as a reserve asset, on its monetary and political positioning, on base-layer conservatism. Those questions are upstream of the ones a Bitcoin L2 needs people to be asking. I still believe Bitcoin gets there, but belief in the destination is not the same as being able to predict when, and nobody can. It's also possible the destination never materialises at all, and that Bitcoin's role as a reserve asset is simply where it settles. If that's true, there will never be a market for what we were building, and no amount of time or capital would change that.

The second is the token question. We intended to eventually launch a token. We saw it, and still see it, as a genuinely new form of equity, something closer to an IPO than an airdrop, to be done when you reach product market fit and the moment is right. That moment never came. What became clear over the last year is that the market largely stopped rewarding even the more considered versions of that playbook. Token launches across the board have broadly underperformed, and those that did go to market with tokens haven't seen the outcomes or PMF that the model is supposed to produce.

The third lesson is about where DeFi demand on Bitcoin actually lives. For most use cases that exist today, lending, yield, leveraged exposure, WBTC on a mature general-purpose L2 is genuinely sufficient. Users have voted with their behaviour, and the verdict is that the trust assumptions of a wrapped representation on Ethereum are acceptable to almost everyone who wants Bitcoin-denominated DeFi. Decentralisation matters to people in principle and in conversation; in practice, when something cheaper and easier is in front of them, they use it. The security case for a dedicated Bitcoin L2 is real, but it only matters for a narrower band of applications than our thesis required, one of the clearer lessons this market has taught us.

The fourth lesson is structural. The on-chain economy is consolidating around venues that own the user relationship: Hyperliquid, Robinhood, the major CEXes, and now TradFi participants absorbing an ever-larger share of attention, flow, and revenue. Convenience and institutional credibility win, every time, as soon as they're available. As retail participation thins, that concentration only deepens. We were, and still are, believers in decentralisation, but the current direction of on-chain growth is running through distribution, and any team building base-layer infrastructure today is rowing upstream against that current. We were no exception.

The fifth lesson is the most concrete. Both of the above played out directly in our economics. The users we attracted were primarily using Bitcoin as a store of value for yield, a legitimate use case, but not the high-frequency transaction volume that drives fee revenue on a network like ours. BINK was our answer to that: a Bitcoin neobank designed to bring daily usage of BTC and stablecoins on-chain, driving the transaction volume the network needed. It was the right strategic instinct, and one we never got the chance to fully test. BINK only landed on both app stores in the last few weeks, a product that by its nature could only be built once the underlying infrastructure was proven and live. When users choose the convenient option and economic gravity pulls toward distribution, what's left on a decentralised infrastructure layer is a user base that costs more to serve than it generates. Infrastructure costs are what they are, and the fee income never came close to covering them.

If you would like to see how we were imagining a Bitcoin future and what we have been working on since September, feel free to download BINK and give it a spin: it’s a full-fledged self-custodial Bitcoin Neobank with email login, one click borrowing, a Lightning integration and more.

App store: https://t.co/36aTfvcfHF

Play store: https://t.co/qoSQ26vbWr

This UX is where we think Bitcoin is ultimately heading towards although it feels too early. You can use invite code 1SD31R, but remember to remove your funds by July 9th.

We could keep going. We have chosen not to, however, because continuing past the point where additional time stops producing additional learning is not conviction, it is something that looks like conviction from the outside while corroding into something else on the inside. We would rather stop now, with integrity intact and resources available to take care of the people who took a chance on us, than push the experiment past the point where it still has something to teach us.

Reminder: Please withdraw all your assets by July 9th. After this, the federation will sweep the remaining Bitcoin. Any other assets or tokens on the network from then onwards will unfortunately be unrecoverable.
After this, the federation will sweep the remaining Bitcoin. Any other assets or tokens on the network from then onwards will unfortunately be unrecoverable.

To our investors, who backed a thesis that was harder to defend than it should have been, to our partners who built alongside us and bet pieces of their own roadmaps on ours, to the developers who deployed on Spiderchain, to our users and the BINK community who showed up for something experimental and stayed, and most of all to the Botanix team who shipped a genuinely novel system with rigour and care and who made every hard day worth the difficulty: Thank you, more than the words available here can carry.

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

@FFFenizz852 @trdEverything 幣圈項目有幾多係“正常”？🤡

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

@ShanghaoJin 去看下 @Polymarket 有沒有Insider Trading就知道了。

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

@octopusycc 說不定是covered call?

[⚫️ Alvin LL ✴️ 🔶 @ll6424]

@w23752946 這畫面應該是調光了，我記得原畫黑得幾乎看不清。