Stacks Bitcoin Ecosystem Ready For Explosive Growth

Summary

In this Nugget News episode, the host discusses the Stacks protocol's imminent Nakamoto upgrade, set to accelerate Bitcoin transactions from 10 minutes to 5 seconds, facilitating DeFi applications. The upgrade is poised to unlock Bitcoin's trillion-dollar potential and enhance its utility. The host highlights the Stacks ecosystem's growth, with various projects building on it, and mentions the Stax Foundation's role. The video also covers the Stacks trust by Grayscale and several DeFi platforms like Stacking, Acadeao, and Vel that offer staking, borrowing, and trading options. The host expresses excitement about the protocol's potential for explosive growth and encourages viewers to explore the Stacks ecosystem.

Takeaways

• 🚀 The Stacks protocol is nearing completion of the Nakamoto upgrade, which is anticipated to significantly enhance Bitcoin's utility and scalability.
• 🌐 The upgrade is set to reduce Bitcoin's transaction times from 10 minutes to just 5 seconds, facilitating faster and more efficient financial applications on the Bitcoin network.
• 📈 The Stacks ecosystem has seen substantial growth, with numerous projects building on top of it, indicating a vibrant and expanding community.
• 💰 Stacks has been identified as a strong investment opportunity, especially with the upcoming market cycle and the potential for DeFi on Bitcoin.
• 🔒 The Stacks token (STX) has a dual role: it secures the network and can now be used in various DeFi applications, offering staking rewards and additional utility.
• 📈 The price of Stacks has experienced significant growth, reflecting the excitement and anticipation around the protocol's developments.
• 🌐 The Stacks ecosystem includes various platforms like Stacking, Down, Acadeao, and Hticar, each offering unique services such as staking, borrowing, and stablecoin minting against Bitcoin.
• 💼 The Grayscale Stacks Trust provides an institutional investment vehicle, indicating growing interest and trust in the Stacks protocol.
• 🔗 The integration of Stacks with other blockchains, like Ethereum, opens up new possibilities for cross-chain interactions and decentralized finance.
• 📊 The video encourages viewers to explore the Stacks ecosystem, highlighting the potential for earning rewards and participating in the growth of the platform.

Q & A

What is the main topic discussed in the Nugget's News episode?

The main topic discussed is the Stacks protocol, which is setting up for explosive growth due to an anticipated upgrade that will unlock the trillion-dollar value of Bitcoin and give it further utility.

What is the significance of the Stacks' Nakamoto upgrade?

The Nakamoto upgrade is significant because it will make using Bitcoin in DeFi, lending, and swapping much easier by reducing the block time from 10 minutes to 5 seconds, thus enhancing Bitcoin's utility in financial applications.

How does the Stacks protocol relate to the traditional Bitcoin network?

Stacks has been pegged to Bitcoin until the Nakamoto upgrade, which will allow for faster transactions and enable the use of Bitcoin in various financial applications and protocols built on top of Bitcoin.

What is the median block time for Bitcoin transactions?

The median block time for Bitcoin transactions is around 10 minutes, but it can vary and increase when the network gets busy.

What are some of the challenges faced by Bitcoin users due to its traditional block time?

Bitcoin users face challenges such as slow transaction times, with 10-minute confirmation times that can extend when the network is busy, leading to potential delays and confusion.

What is the Stacks ecosystem and how does it benefit from the Nakamoto upgrade?

The Stacks ecosystem consists of various projects and applications built on top of Bitcoin. The Nakamoto upgrade benefits it by making these applications faster and more efficient, potentially leading to explosive growth.

What is the role of Stacks token holders post the Nakamoto upgrade?

Post the Nakamoto upgrade, Stacks token holders, or 'stackers,' will not only contribute to the security of the network by staking their tokens but will also validate and approve blocks, enhancing the protocol's functionality.

Why is the Stacks protocol considered a promising investment according to the video?

The Stacks protocol is considered a promising investment because it is positioned to unlock the value of Bitcoin in DeFi and has a history of quality development and upgrades, which are expected to drive growth in the next market cycle.

What is the relationship between Stacks and the Grayscale Stacks Trust?

Grayscale has created a Stacks Trust, which is an investment vehicle that allows traditional investors to gain exposure to Stacks tokens. It currently trades at around $750 for five Stacks tokens per share.

What are some of the projects within the Stacks ecosystem mentioned in the video?

Some projects within the Stacks ecosystem mentioned include Stacking, Down, Acadeao, Hticar, Zest Protocol, Bitf Flow, and Vel, each offering different services such as staking, borrowing, trading, and liquidity provision.

How can users participate in the Stacks ecosystem?

Users can participate in the Stacks ecosystem by acquiring a Bitcoin wallet, purchasing Stacks or Bitcoin, and interacting with various applications within the ecosystem such as staking, borrowing, and trading on decentralized platforms.

Outlines

00:00

🚀 Stacks Protocol: Unlocking Bitcoin's Trillion-Dollar Potential

The speaker introduces an upcoming protocol, Stacks, which is nearing completion of a significant upgrade known as the Nakamoto upgrade. This upgrade is poised to accelerate Bitcoin's transaction times from 10 minutes to just 5 seconds, facilitating its use in decentralized finance (DeFi) applications. The video acknowledges the growth in subscribers and plans to continue covering global economic and crypto-related news, emphasizing the interconnectedness of these topics. The Stacks Foundation's role in enhancing Bitcoin's utility is highlighted, along with the anticipation of increased functionality for Bitcoin in the financial sector.

05:01

🌐 Exploring Stacks Ecosystem and Protocols

The speaker delves into the Stacks ecosystem, discussing the integration of Bitcoin with DeFi through various protocols built on top of it. The video mentions the development of a Stacks trust by Grayscale, providing a traditional investment avenue for Stacks tokens. The speaker guides viewers on how to set up a Bitcoin wallet for interacting with Stacks-based applications. Several projects within the Stacks ecosystem are introduced, including Stacking, which allows staking of Stacks tokens for rewards, and Acadeao, which enables users to mint stablecoins using Stacks. The video also touches on other platforms like Hticar, Zest Protocol, and Bitflow, each offering unique financial services on the Stacks network. The potential for trading and bridging between different blockchain networks is also highlighted.

10:01

📈 Opportunities in Stacks Ecosystem and Future Outlook

The video concludes with a focus on the opportunities presented by the Stacks ecosystem, particularly with the imminent Nakamoto upgrade. The speaker expresses excitement about the potential for Bitcoin to unlock its trillion-dollar value through faster transaction times and increased utility in DeFi. The video also mentions Granite, another project within the Stacks ecosystem that allows borrowing against Bitcoin holdings without selling. The speaker invites viewers to subscribe for free crypto trend updates and premium research, and encourages sharing the video. The overall message is one of optimism for the growth and adoption of Stacks and Bitcoin in the financial sector.

Keywords

💡Stacks

Stacks is described as the leading Bitcoin scaling solution in the video, which is nearly completing the Nakamoto upgrade. This upgrade is significant as it aims to enhance Bitcoin's functionality by making it easier to use in decentralized finance (DeFi) applications such as lending, swapping, and other financial protocols. The video emphasizes the potential for Stacks to unlock Bitcoin's value and increase its utility, setting the stage for explosive growth in the next 12 months.

💡Nakamoto upgrade

The Nakamoto upgrade is a pivotal point in the video, representing an anticipated upgrade in the crypto space that is nearly completed. This upgrade is expected to reduce Bitcoin's transaction times from 10 minutes to 5 seconds, thereby making it more efficient for various financial applications. The video suggests that this upgrade will be a game-changer, allowing for a broader range of DeFi activities to be built on top of Bitcoin.

💡Bitcoin finality

Bitcoin finality refers to the point at which a Bitcoin transaction is considered irreversible. The video discusses how the Nakamoto upgrade will enhance Bitcoin's finality by reducing block times, which is crucial for increasing the speed and reliability of transactions. This improvement is expected to make Bitcoin more attractive for use in DeFi and other financial applications, where quick and secure transactions are essential.

💡DeFi (Decentralized Finance)

DeFi is a key concept in the video, representing a financial system built on blockchain technology that is open, permissionless, and transparent. The video highlights how the Stacks protocol, through the Nakamoto upgrade, will enable Bitcoin to be used more effectively in DeFi applications, such as lending and swapping, which traditionally have been slow and clunky with Bitcoin due to its 10-minute block times.

💡Bitcoin wallet

A Bitcoin wallet is mentioned as a necessary tool for users to interact with the Stacks ecosystem and various DeFi applications. The video suggests that with the upgrade, users will be able to use their Bitcoin more efficiently in financial applications by having a wallet that supports the Stacks protocol. Examples given include MetaMask, Rabbit, and the newer Stacks Wallet, which are integral for participating in the ecosystem.

💡Staking

Staking in the context of the video refers to the process of locking up Stacks tokens to contribute to the security of the network and earn rewards. The video explains that with the Nakamoto upgrade, stakers will not only secure the network but also validate and approve blocks, similar to other blockchain upgrades. This change is expected to increase the utility and value of staking Stacks tokens.

💡Airdrop

An airdrop in the video is mentioned as a potential reward mechanism for users who engage with the Stacks ecosystem. Projects within the ecosystem, like Stacking Down, offer points that users can earn by performing certain actions, such as following on social media or joining community platforms. These points could be redeemable for tokens during future airdrops, incentivizing user participation and engagement.

💡Stablecoin

A stablecoin is a type of cryptocurrency that is pegged to a stable asset, often a fiat currency like the US dollar, to minimize price volatility. The video discusses how projects like Acadeao within the Stacks ecosystem allow users to deposit Stacks and mint a stablecoin, providing a way to earn yield while maintaining the stability of their assets.

💡Decentralized Exchange (DEX)

A decentralized exchange, or DEX, is a platform that allows users to trade cryptocurrencies without the need for a centralized authority. The video mentions Bitflow as an example of a DEX within the Stacks ecosystem, where users can trade, earn, and borrow cryptocurrencies in a decentralized manner, taking advantage of the improved transaction speeds provided by the Nakamoto upgrade.

💡Wrapped Bitcoin

Wrapped Bitcoin refers to Bitcoin that is 'wrapped' or tokenized on a different blockchain, such as Ethereum, to be used in various DeFi applications. The video discusses how the upcoming Nakamoto upgrade will facilitate the use of Bitcoin in DEXs and other financial applications without the need for wrapping, as the Stacks ecosystem will directly support Bitcoin transactions with improved speed and efficiency.

Highlights

Introduction to an anticipated upgrade in crypto history that will unlock trillion-dollar value of Bitcoin.

Stacks, the leading Bitcoin scaling solution, is nearly completed with the Nakamoto upgrade.

The upgrade will make using Bitcoin in DeFi, lending, and swapping much easier.

The first few stages of the Nakamoto upgrade are already completed.

The upgrade will reduce Bitcoin transaction times from 10 minutes to 5 seconds.

Explanation of Bitcoin's current slow confirmation times and how the upgrade will improve this.

The Stacks ecosystem has seen significant development since the last market cycle.

The Stacks token (STX) has been a long-term hold in the presenter's portfolio.

The presenter discusses the potential for Bitcoin DeFi in the upcoming market cycle.

The presenter explains the benefits of the Nakamoto upgrade for various protocols building on Bitcoin.

Grayscale now has a Stacks trust, offering a traditional investment route into Stacks.

The presenter outlines the process of setting up a Bitcoin wallet for the Stacks ecosystem.

Stacking is introduced as a way to stake Stacks and earn yield.

Acadeo allows users to deposit Stacks and mint a stablecoin.

HTICar is a Bitcoin-backed stablecoin with yield features.

Zest Protocol is highlighted for its liquidity pool features.

Bitflow is a decentralized exchange within the Stacks ecosystem.

Vel is building on multiple Bitcoin ecosystems, with an upcoming upgrade expected to be significant.

Granite is mentioned as an exciting project for borrowing against Bitcoin without selling.

The presenter concludes by inviting viewers to subscribe for more crypto insights.

Transcripts

hi guys thanks for tuning into another

episode of nuggets news well today I

want to talk about a protocol I think is

setting up for explosive growth in the

next 12 months they're nearly just days

away now from completing one of the most

anticipated upgrades in crypto history

that's going to unlock that trillion

dollar value of Bitcoin and give it

further utility so before we dive into

Stacks um the leading Bitcoin scaling

solution I do want to give a big shout

out to over a th000 new subscribers

after our last video so I'll continue to

do these videos on what's happening

around the world um the Australian

economy as well as all our crypto videos

cuz as more and more of you are starting

to understand this is all interrelated

if we want to build out this new

decentralized world and take power away

from the traditional power structures

all right so the Stax Foundation the

Stax ecosystem they've nearly completed

this upgrade the nakota upgrade that's

going to make using Bitcoin in defi in

lending and swapping and this whole

world of finance a lot easier to be

built out on top of Bitcoin so the first

few stages of this are already completed

and as I said we're now just days away

from having

5c blocks and Bitcoin finality Bitcoin

security when you can use your Bitcoin

to do all these Financial little

applications and protocols and all these

other deps that are building on top of

Bitcoin so very exciting compared to

traditionally with Bitcoin being pretty

slow slow and clunky um 10minute

confirmation times those confirmation

times can blow right out um when the

network gets busy I'm sure we've all

sent some Bitcoin from one address to

another before and an hour later it

hasn't showed up and you're panicking

and unless you understand how this all

works um it can be pretty confusing so

the median block time is probably better

to go on here as you can see it hovers

around 10 minutes give or take but when

you send Bitcoin from one wallet to

another or from an exchange to a wallet

different exchanges have different rules

on how many confirmations they're going

to wait so how many lots of average 10

minutes before they'll accept your

transaction and say that's not

reversible and that type of thing so a

trans a lot of exchanges might have

three confirmations if the Network's

running smoothly and they're all each in

average of 10 minutes it's going to be

half an hour before that exchange or the

Bitcoin shows up in your wallet is

credited and actually there so that's

just a quick explanation hopefully a lot

of you have got your heads around that

already but Stacks has been pegged to

bitcoin up until now so this upgrade is

going to take it from 10 minutes to 5

Seconds to do these different

transactions and that's really exciting

for all these other protocols that I'm

going to run you through quickly that

are building on top of Bitcoin um some

of them have already got tokens some of

them you can earn points for those air

drops so we're going to talk about all

that as we get into it but that's the

gist of this big upgrade and why it's so

exciting now as you know over the past

couple of years I've had Bitcoin defi um

pegged is one of the best plays for this

upcoming Market cycle and it's been in

our um Bitcoin defi portfolio and in my

personal portfolio for ages now you know

when I posted about this back in

September 22 I think the price was

around 30 cents and it traded between 30

cents and 20 cents for a long time

before we've had this big run and now

we've had the pullback like the whole

Market everything's been taking a

breather for 6 months um but this isn't

a new coin it's been around for a while

and there's a lot of excitement about

the possibility of D5 being built on top

of Bitcoin in the last cycle as always

after things Peak they crash and cool

off a lot but it's the projects like

this that have got really quality

developers and have been pushing

upgrades that tend to benefit and set

new highs in the next uh bull market so

pretty exciting possibilities for Stacks

as we near the completion of this

upgrade we've got plenty of projects

building within their ecosystem now it's

come a long way since that last Market

cycle and the other thing to mention is

that um those that do uh stake their

Stacks token or stackers as they're

known they go from being responsible for

just locking up their tokens to

contribute to the security of the

network to now validating and approving

blocks so similar to upgrades that

you've heard of other blockchains in the

past possibly if you're a beginner you

don't need to worry about any of this

too much other than it's about to get a

lot faster and quicker to use your

Bitcoin to do a lot more cool stuff and

this is kind of what we saw with with

ethereum as well as we got that first

bubble in 2017 and all of a sudden you

could swap coins and tokens and do

lending and borrow stable coins um pull

your funds to earn rewards all this

stuff becomes possible the whole

financial system outside of the

traditional Financial system um is now

coming to bitcoin after being built out

on ethereum and plenty of these other

chains other thing to mention here is

the grayscale um before the ETFs these

guys were basically the biggest way and

easiest way to get exposed to bitcoin

ethereum or other coins that they chose

as the Blue Chips of the crypto space to

create a a trust or a fund um through

Wall Street and the traditional ways you

invest and they've now got a Stacks

trust so at the moment um this Stax uh

trust is five Stax tokens per share so

Stax is trading at around um $150 at the

moment say roughly well five shares of

that is around $750 so that's all you

need to know why that price is slightly

different okay so let's talk about some

of these best protocols and how to get

involved with this whole ecosystem so

first of all you're going to need a

Bitcoin wallet if you've been in the

crypto space for a while you've probably

used these extensions like metamask or

rabby some of the newer ones the leather

wallet is the one that I find is the

most integrated now for the stacks

ecosystem to use these different

projects so just like with your other

wallets it'll generate an address and

and I'm not going to walk through that

today but once you've got all that set

up and you can buy some Stacks or some

Bitcoin through one of the exchanges

again links below if you're new and you

need to make sure you're using the

legitimate exchanges and whatnot then

you can send your Bitcoin or Stacks to

your wallet and start playing around

with these different apps so the first

one I want to talk about is stacking

down and these guys are making it easy

for you to lock up and stake your Stacks

so if you click on launch app it'll

bring you to this screen and if you've

got that Stacks in your wallet you can

then just convert it to Stak stacks and

what that means is you get to earn the

yield um earn some rewards for helping

contribute to the network um but now you

can also reuse that token rather than

just having it dormant and sitting there

securing the network you can actually

still use it with these other

applications and and daps and borrow

against it even though you've got it

locked up and working for you already so

pretty cool initiative by um stacking

down and again they've got points you

can earn just by using this um ecosystem

having you playing play around with it

they've also got these quests at the

moment you can do just things like

following them on Twitter and joining

their Discord and telegram can earn you

points for that future um airdrop when

they do have a token in future the next

one is acadeo again I mentioned before

I've done detailed interviews with a lot

of these projects in recent months but

basically a way to deposit stacks and

mint a stable coin so again if you click

on launch app you can see how this is

all done um vaults with your state

Stacks or your regular Stacks um xers

BTC so if you've got that different

wallet again this is for the more

advanced users among you how to um start

to use these to your advantage and I

think it's really exciting for someone

that's got a lot of Bitcoin now that

doesn't have to sell it you can just

borrow um stable coins against it um if

you want to take some profits now arade

Deo do have their own token currently

around 7 million market cap

um peaking at what 80 cents there and

back down to under 10 cents now the next

one up uh is htic car so this is a a

Bitcoin back stable coin with the yield

built into it as well so you can get

those rewards and have a stable coin um

there with the usdh and more features to

come for a lot of these protocols as

well it's just it's so early on zest

protocol this is a liquidity pool uh

again open up the app there but you can

supply different assets or borrow

different assets earn yield and that

type of thing um points can be earned on

on zes but no um token itself just yet

next up we've got bitf flow so

decentralized exchange where you can

trade earn borrow and do all these

things together um again check that one

out but the final one I want to mention

here is Vel so these guys have got a

building on a couple of different

Bitcoin ecosystems um as well as a

ethereum but this next upgrade is going

to be massive for them so you can check

out their actual decks or their per

decks so to trade these Perpetual swaps

if you're into trading whatnot at the

moment they've only got wrapped Bitcoin

but this is going to be something where

you can do all your trading without

using a proper exchange from your own

wallet in future again swapping from one

coin to another um bridging from the

ethereum network to the stacks Network

and so on it's going to ask you to say

connect your ethereum wallet and and

then connect your Stacks wallet so you

can Bridge from one network to another I

know these things are a little bit

complicated guys but this is all very

exciting and it reminds me so much of

those early days um when ethereum had

that explosive growth final one special

mention to Granite I know this is

another one that people are excited

about that's coming um another great way

to um borrow against your Bitcoin

without having to sell so hopefully you

can see why I'm pretty excited about all

this stuff uh 5sec block times

this is just going to lead to that

explosive growth and unlocking that

trillion dollars locked in Bitcoin but

guys if you do want to get all our free

best weekly crypto Trends you can head

over to the website and sign up for free

access to all that if you want all our

premium research you can become a member

uh and for high net worth individuals we

still have that VIP room as well that's

it for today guys hit that like button

subscribe if you haven't already share

those videos around and I'll talk to you

again soon cheers