Stacks Bitcoin Ecosystem Ready For Explosive Growth
Summary
TLDRIn 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
🚀 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.
🌐 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.
📈 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.
Mindmap
Keywords
💡Stacks
💡Nakamoto upgrade
💡Bitcoin finality
💡DeFi (Decentralized Finance)
💡Bitcoin wallet
💡Staking
💡Airdrop
💡Stablecoin
💡Decentralized Exchange (DEX)
💡Wrapped Bitcoin
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
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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
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