Innovators of the Bitcoin Ecosystem: Jack Liu's Journey and Insights

Early Explorers of the Bitcoin Ecosystem

Jack Liu's Bitcoin journey began in 2013 when he stumbled upon the Bitcoin white paper on a financial website. At that time, the price of Bitcoin was only around $175. By chance, he bought his first Bitcoin from a Bitcoin ATM in Vancouver.

The early Bitcoin industry was relatively small and mainly led by technical experts. For someone like Jack, who had no programming background, entering this field was a challenge. However, his passion for Bitcoin drove him to become a blogger in 2013 and 2014, sharing his insights.

Jack's career took a turn because of a blog post. The founder of a well-known trading platform contacted him after reading Jack's blog. This opportunity allowed Jack to get involved with the platform and ultimately helped launch another well-known trading platform. He has also worked at other cryptocurrency companies, experiencing the developments and debates within the Bitcoin scaling community firsthand. Despite the emergence of other cryptocurrencies like Ethereum, Jack remains focused on the Bitcoin space, contributing to various projects and innovations.

Unique Investment Philosophy

Jack shared his investment philosophy, emphasizing the importance of simplicity and liquidity in a decentralized economy. His approach to evaluating cryptocurrency opportunities is based on the principles of "simple, novel, and liquid." In a decentralized world, the goal is to connect with strangers globally, so investments must be easy to understand and widely accepted.

He illustrated that the reason a certain token on Bitcoin can quickly gain market value is because it is simple and easy to understand, and can be traded easily across various platforms. Jack also reflected on missed opportunities, emphasizing the importance of identifying and seizing new trends early, even if these trends initially appear unconventional or risky.

BAMK and NUSD: Innovative Token Projects

Jack introduced two innovative projects, BAMK and NUSD. BAMK is a meme token, while NUSD is a synthetic dollar on the Bitcoin network. The initial allocation of BAMK includes providing 6.25% of the tokens to the public and 6.25% to NUSD holders, with the remaining token supply reserved for future demand. Jack emphasized the importance of sustainable growth and plans to burn tokens based on specific milestones.

NUSD, as a synthetic dollar on the Bitcoin mainnet, provides a decentralized alternative to traditional centralized stablecoins. Although Bitcoin transactions are slower and more expensive, significant on-chain activity proves the existence value of NUSD. Unlike traditional stablecoins, NUSD is an algorithmic stablecoin that attracts Bitcoin holders who wish to avoid centralized exchanges and maintain on-chain transactions.

Build On-chain Influence and Community

Jack emphasized that the success of the crypto world comes from genuine interaction with the on-chain community, rather than traditional marketing strategies. He believes more in the power of on-chain existence and activities, rather than social media hype or media exposure.

The rapid development of BAMK and NUSD is attributed to their organic growth, transparency, and active community participation. By launching tokens on-chain and fostering a decentralized economy, these projects have attracted a dedicated user base that contributes to the success of the projects through trading, holding, and building additional tools and applications.

The community engagement of BAMK is particularly remarkable, thanks to its user-centric approach. The initial distribution strategy reflects this philosophy: 6.25% of the tokens are minted for free to the public, and 6.25% of the tokens are airdropped to NUSD holders. This inclusive approach has led to a highly engaged community that contributes spontaneously to marketing and content creation.

Future Outlook

Looking ahead, Jack discussed the development goals of BAMK and NUSD. These include further increasing the total locked value, integration with layer two solutions, and broader adoption within the Bitcoin ecosystem. An important long-term goal is to reduce reliance on centralized exchanges through the automation of on-chain perpetual swap project operations.

Jack emphasized the importance of organic growth and addressed potential issues before seeking to go public. The ultimate goal is to ensure that BAMK and NUSD are sustainable, transparent, and beneficial to the community in the long term. It is worth noting that these projects have already attracted a certain level of institutional attention, with a management company investing $1 million in NUSD.

Conclusion

BAMK and NUSD are emerging projects that have quickly become important entities in the Bitcoin ecosystem. Their rapid rise has surprised many and has made them projects worth paying attention to in the Bitcoin space. It will be interesting to observe how developers like Jack create the infrastructure and tools needed for Bitcoin finance. Despite the potential risks of synthetic dollars, how Jack and his team respond to these challenges and continue to develop the project will be a process worth watching.