Enrique and I exchanged excited glances, taking it all in.

From Resolvr's instant insurance settlements to Cascdr's AI-powered Lightning Network apps, the event was a testament to Bitcoin's emerging ecosystem.

No bullshit, no hype – just raw innovation and real-world applications set to change the game. Buckle up, Bitcoiners. Here's what you missed at PlebLab's Startup Day, starting with Yopaki's gritty journey...

Francisco recounted Yopaki's early struggles, including their initial lack of investor interest and the challenges of building something new in the Bitcoin ecosystem. He highlighted their innovative approach to generating buzz, such as organizing Mexico's first non-technical Bitcoin-only conference and projecting a Bitcoin message on the Central Bank of Mexico.

The presentation culminated with the announcement of Yopaki's latest project: a Bitcoin-themed version of Lotería, a culturally significant game in Mexico. This clever adaptation aims to make learning about Bitcoin more engaging and accessible to a wider audience, demonstrating Yopaki's commitment to education and community building in the Bitcoin ecosystem. By combining traditional Mexican culture with Bitcoin education, Yopaki is creating a unique bridge between heritage and financial innovation, showcasing their ability to adapt and innovate in the face of challenges.

Francisco's honest account of their struggles and subsequent growth served as an inspiring message for fellow startups, demonstrating that even in the face of near-failure, success is possible with resilience and innovation.

Alamo Labs' dedication to fostering local talent and building a strong Bitcoin community in San Antonio is commendable. For those looking to dive into Bitcoin development, especially in the San Antonio area, Alamo Labs presents an exciting opportunity to gain valuable knowledge and experience. As they say in Texas, "Remember the Alamo" - and now, thanks to Alamo Labs, you can remember where your Bitcoin journey began.

It was our turn to present, and my heart raced as Enrique and I took the stage. Despite countless rehearsals, the real deal brought a mix of pride and nervousness. Enrique began the demo with fluid confidence, executing each click and transition flawlessly, just as we had envisioned.

Next up was Orange Metrics; a powerful platform that Lightning Bounties can leverage to enhance our bug bounty platform. By utilizing Orange Metrics' data visualization and analysis tools, we can gain deeper insights into Bitcoin and Lightning Network projects.

The platform allows us to query and visualize open-source data from Bitcoin, Lightning, and various GitHub repositories using SQL. This capability is particularly valuable for Lightning Bounties, as we can analyze trends in developer activity, code quality, and project growth. For example, we could track open issues, pull requests, and commit frequencies across multiple repositories, helping us identify high-impact areas for bounties.

The presentation showcased Resolvr's Reinsurance Premium Manager (RPM), which enables instant, accurate, and global settlement payments. Dave demonstrated the platform live, processing payments instantly across multiple parties, including reinsurers. He emphasized that while they use Bitcoin and Lightning for settlements, the platform can also handle fiat-to-fiat transactions. Resolvr's approach significantly reduces processing costs and eliminates friction between different parties in the insurance chain, potentially transforming how insurance claims are processed and settled globally.

Shopstr, is a user-friendly decentralized marketplace that aims to revolutionize online selling. Built on Nostr and leveraging Bitcoin and Lightning Network technology, Shopstr offers a compelling alternative to traditional e-commerce platforms.

What sets Shopstr apart is its focus on simplicity and user control. Users can easily create an account without extensive personal information, list items quickly, and maintain ownership of their data. The platform integrates seamlessly with other Nostr-based applications, allowing users to manage their marketplace presence across multiple platforms effortlessly.

These user-centric approaches make Shopstr accessible to anyone, from tech-savvy Bitcoin plebs to casual shoppers looking for a straightforward online marketplace experience.

Comet Notes is a clever open-source note-taking application that prioritizes user privacy and data sovereignty. Unlike traditional note-taking apps that store data in centralized clouds, Comet Notes allows users to keep their notes locally encrypted on their devices, ensuring complete control over their information. The platform is designed to be intuitive and accessible, making it easy for anyone to use without overwhelming them with complex features.

Jim Carucci, the founder and CEO of Cascdr, delivered an insightful presentation. He focused on the synergy between the Lightning Network and AI, explaining how these technologies form the core of Cascdr's vision. Jim's explanation of AI chatbots as "autocorrect on steroids" was particularly enlightening, helping to demystify the complex world of AI for those unfamiliar with its inner workings. He broke down complex concepts into digestible parts, using examples like optical character recognition to explain neural networks and vectorization in language processing.

Cascdr is a platform that leverages the Lightning Network and AI to create innovative solutions in the Bitcoin ecosystem. By combining the advantages of the Lightning Network, such as low-fee, high-resolution payments, and instant transactions, with the power of AI and large language models, Cascdr aims to offer unique services.

Branta's focus on Bitcoin transaction safety is crucial in today's increasingly complex and sometimes treacherous digital landscape. As someone who values the security of their Bitcoin, I'm relieved to see a company tackling this important issue head-on. The rise of sophisticated scams, including clipboard attacks and imposter sites appearing in Google search results, poses a significant threat to Bitcoin users. These malicious tactics are designed to exploit even a moment's inattention, potentially resulting in the loss of valuable Bitcoin.

Branta's approach of providing instant address verification is a game-changer in this environment. By automatically checking clipboard contents against known wallet addresses, Branta offers a vital layer of protection against these types of attacks. This feature gives users like me peace of mind, knowing that we have an extra safeguard against accidentally sending our Bitcoin to the wrong address or falling victim to a cleverly disguised scam.

Jippi is an innovative mobile app that combines elements of Pokémon Go with Bitcoin education and rewards. The app encourages users to explore their real-world surroundings to find and collect digital assets, specifically sats (the smallest unit of Bitcoin). As users engage with the app, they learn about Bitcoin concepts and earn actual sats, creating a fun and interactive way to understand cryptocurrency. Key features of Jippi include geolocation-based gameplay, educational content integrated into the experience, and the ability to earn real Bitcoin while playing.

The app's approach of gamifying Bitcoin education has the potential to attract younger users and those new to cryptocurrency, making the learning process enjoyable and rewarding. As someone eagerly anticipating Jippi's launch in the Boston area, I believe it will spark engaging discussions within the local Bitcoin community and contribute significantly to wider Bitcoin adoption and understanding.

The Yopaki Block Party: A Celebration of Community

Throughout the party, we seized the opportunity to connect with the brilliant minds behind the startups, absorbing as much knowledge and inspiration as possible. Two individuals stood out, deserving special mention:

The connections made, knowledge gained, and support received have been invaluable. We're honored to be part of this vibrant ecosystem and look forward to contributing to its growth.

WTF is the Lightning Network?

Aight, gather 'round beautiful people because I'm about to break down this Lightning Network thing in a way that'll blow your damn minds. This is about taking Bitcoin, the greatest innovation in money since Belle Delphine's bathwater, and turbocharging it to fulfill Satoshi's original vision of being the ultimate medium of exchange.

You see, the whole point of Bitcoin is that it's decentralized - no single overlord or institution calling the shots. That's what gives it that revolutionary, censorship-resistant power that we all love. But with that decentralization comes some inherent challenges, like the fact that the Bitcoin blockchain can only process ~7 transactions per second before things start to slow down and transaction fees start being more expensive than a jar of Belle Delphine's bathwater (Don't judge me, Pleb).

Lightning Network - this is the clever solution that lets Bitcoin scale up without compromising its core principles. It's like taking your favorite neighborhood bar and turning it into a well-oiled, lightning-fast operation that can serve the whole fucking state of Massachusetts!

Here's how it works: instead of recording every single drink order (I mean, transaction) directly on the main Bitcoin blockchain, the Lightning Network lets you and the bartender (or anyone else you want to do business with) open up a private tab between you. Within that personal channel, you can go back and forth all night, ordering round after round, without having to wait for that laggy credit card terminal to process each of your drink orders, holding up the entire bar.

Then, when you're ready to stumble home, you just settle up the whole tab in one quick final transaction. The Lightning Network handles all the tiny individual payments behind the scenes, aggregating them into one efficient, low-cost settlement on the main Bitcoin blockchain. This massively reduces the strain on the main network, allowing for faster confirmations, lower fees, and the kind of high-volume, low-friction transactions that Bitcoin was always meant to enable.

And the beauty of it is, the Lightning Network is still 100% built on that same decentralized, censorship-resistant foundation as Bitcoin itself. It's not some separate cryptocurrency or centralized service trying to replace the original - it's an elegant, second-layer solution that supercharges Bitcoin's capabilities without compromising the core principles that make it revolutionary.

Now, I know what some of you might be thinking - "But doesn't this introduce new security risks or single points of failure?" It's a fair concern, but the Lightning Network developers have put a ton of work into bulletproofing the protocol.

There are built-in mechanisms to ensure your funds are still under your control, and the decentralized nature of the network makes it resistant to any one weak link bringing the whole thing down.

In fact, the Lightning Network actually opens up a whole world of new use cases that simply weren't feasible with regular Bitcoin or traditional payment methods. Instant, high-volume micropayments? No problem - you can now tip your favorite bartender (or content creator, or freelancer) fractions of a penny in the blink of an eye (Freudian Slip, I mean, at least a few dollars). Pay-per-view pricing for articles, apps, and digital services? Lightning makes that kind of granular, on-demand billing totally possible.

And let's talk about the global implications here. Billions of people around the world are still cut off from basic financial services - no banks, no credit cards, no way to participate in the modern economy. But the Lightning Network's ability to enable fast, cheap, borderless payments has the potential to be a real game-changer for economic inclusion and financial freedom in the developing world. No more relying on slow, centralized institutions - the Lightning Network could be the key to unlocking prosperity for the unbanked masses.

So in a nutshell, the Lightning Network takes everything that makes Bitcoin great - the decentralization, the censorship resistance, the cryptographic security - and dials it up to 11. It's the missing piece that helps Bitcoin truly fulfill its destiny as the world's most powerful medium of exchange. As far as I'm concerned, this is the breakthrough that's gonna launch us into the next era of Bitcoin dominance.

Who's ready to order another round on the house?

August 10, 2024

In the early 18th century, the British government faced a formidable challenge: how to accurately determine a ship's longitude at sea. The inability to do so led to numerous shipwrecks and lost lives, posing a significant threat to the empire's naval dominance and maritime trade. To solve this critical problem, the British Parliament, in 1714, offered a substantial reward known as the "Longitude Prize." This bounty was open to anyone who could devise a reliable method for calculating longitude at sea. While many prominent scientists and astronomers attempted to solve the problem, it was a relatively unknown clockmaker, John Harrison, who ultimately succeeded. Harrison's marine chronometer revolutionized navigation and underscored the potential of using innovation prizes, or bounties, to solve complex challenges.

The concept of bounties as a catalyst for innovation has a long and storied history. These prizes have been used by governments, organizations, and private entities to encourage individuals and small teams to tackle specific problems. Unlike large-scale efforts such as the X-Prize, which often require significant resources and are typically pursued by well-funded organizations, bounties are accessible to a broader audience. They offer a unique opportunity for independent inventors, small teams, and even hobbyists to compete on a level playing field, where creativity and ingenuity are the primary currencies.

One of the most compelling aspects of bounties is that they democratize innovation. By opening competitions to anyone with the skills and determination to solve a problem, bounties tap into a diverse pool of talent that might otherwise go unnoticed. This inclusivity fosters a wide range of solutions, often leading to breakthroughs that traditional research and development methods might not achieve. Furthermore, because bounties typically focus on specific, well-defined problems, they encourage participants to think creatively and pragmatically, leading to solutions that are both innovative and practical.

Modern Day Bounties

In the modern era, the concept of bounties has been revitalized and expanded through platforms like Kaggle. Kaggle is a popular online community that hosts machine learning competitions, where individuals and small teams can compete to develop the best models for various data science challenges. These competitions offer cash prizes, but more importantly, they provide participants with the opportunity to demonstrate their skills, gain recognition, and contribute to solving real-world problems. Kaggle competitions have led to significant advancements in fields such as healthcare, finance, and environmental science, illustrating the power of bounties to drive innovation in diverse areas.

The success of platforms like Kaggle highlights another key advantage of bounties: they encourage collaboration and knowledge sharing. While participants compete against each other, many also share their approaches and insights with the community. This open exchange of ideas accelerates the pace of innovation, as participants build on each other's work and refine their solutions. Moreover, the competitive nature of bounties incentivizes participants to push the boundaries of what is possible, often leading to breakthroughs that extend beyond the scope of the original challenge.

Bounties: Powering Innovation Ecosystems

Bounties also serve as a powerful motivator by offering a clear and tangible reward for innovation. Unlike traditional research grants or funding, which may require extensive applications and approval processes, bounties are straightforward: solve the problem, and you win the prize. This simplicity appeals to many innovators who prefer to focus on the challenge itself rather than navigating bureaucratic hurdles. Additionally, the competitive aspect of bounties adds an element of excitement and urgency, driving participants to work harder and faster to achieve their goals.

The impact of bounties extends beyond the immediate winners. Often, the solutions developed in response to a bounty have broader applications, leading to new products, services, or technologies that benefit society as a whole. For example, John Harrison's marine chronometer not only solved the problem of determining longitude at sea but also laid the groundwork for the development of precise timekeeping, which is crucial for various fields, including telecommunications and GPS technology.

Furthermore, bounties can stimulate entire industries by drawing attention to specific challenges and encouraging a focus on innovation. For instance, in the field of machine learning, Kaggle competitions have inspired thousands of data scientists to hone their skills, leading to a surge in expertise and interest in this critical area. As a result, bounties can play a crucial role in shaping the direction of technological progress and ensuring that key challenges receive the attention they deserve.

Another important aspect of bounties is their ability to uncover hidden talent. By opening competitions to a wide audience, bounties often attract participants who may not have traditional credentials or experience but possess the creativity and problem-solving skills needed to succeed. This inclusivity allows for a more diverse range of perspectives and approaches, which can lead to more innovative and effective solutions. It also provides an entry point for individuals who may not have had the opportunity to contribute to a particular field, fostering a more inclusive and dynamic innovation ecosystem.

Lightning Bounties: The Next Step in Micro Bounties

As discussed, most innovation bounty prizes took months or years to complete in the past. While some of these bounties are still remembered today due to their difficult and impactful nature, the problem bounty solvers is the significant risk of spending so much time.

This is why Lightning Bounties is a significant advance in bounties. We break them down into very small pieces and reward the prize immediately. It's not unheard of to earn multiple bounties in a single day. With this rate of feedback, bounty hunters can focus their efforts on the languages, projects that are best suited to their skills and earning goals.

Earn Your First Bounty Now - By adding to this article

So much for theory, time to take action...and get paid!

Respond to this article by adding an example of a historical or modern day bounty system and add to the article. To do this simply

• Wait for a team member to review your changes and merge them into the git repo

After these steps are complete: you should now have sats deposited into your profile. Now you can use those sats to withdraw them into your wallet or to post a bounty of your own.

Community Contributions

What are some examples of bounties you've seen that have been effective?

from @sutt:

Vitalik Buterin earned his first bitcoins in 2011 by writing articles for Bitcoin Weekly (1). Vitalik also offered bounties to Gavin Wood for his Ethereum C++ client on their first communications (2).

Looks like in both cases, bounties were a key part of bringing in talent that did not have any official credentials in the space.

(1)

(2)

End.

The State of Open Source Development

The challenge lies not in a lack of talent but in infrastructure and incentives. Millions of skilled developers, especially in the Global South, remain disconnected from high-impact opportunities due to traditional banking restrictions, complex payment systems, and geographical barriers. This untapped potential hinders innovation and stifles the growth of critical projects.

Introducing Lightning Bounties: A Solution for Global Collaboration

Lightning Bounties emerges as a transformative platform to bridge this gap, leveraging Bitcoin's Lightning Network to create a truly borderless bounty aggregator for open-source development. By leveraging the speed and efficiency of the Lightning Network, Lightning Bounties enables immediate Bitcoin payouts for approved pull requests, eliminating delays and fees associated with traditional payment methods.

Key Features and Benefits:

1. Instant Compensation: Utilizes the Lightning Network for immediate Bitcoin payouts.

2. Global Accessibility: Opens doors for talent worldwide, including those in underserved regions.

3. Lowered Barriers to Entry: Seamless integration with GitHub streamlines the contribution process.

4. Diverse Contributions: Welcomes various forms of input, from coding to documentation and design.

5. Community-Driven Crowdfunding: Enables collective funding of critical issues and features.

6. Lightning-Fast Payments: Processes transactions at unprecedented speeds, regardless of amount or destination.

Driving Lightning Network Development

Lightning Bounties plays a crucial role in accelerating the growth and security of the Lightning Network itself. By incentivizing contributions to Lightning Network projects, the platform ensures that this vital infrastructure receives the attention and resources it deserves. This collaborative effort not only accelerates the network's development, it also ensures its resilience, paving the way for a more efficient and scalable Bitcoin ecosystem.

Democratizing Participation

Our platform emphasizes inclusivity by welcoming diverse contributions beyond complex coding tasks. This approach nurtures the growth of individual developers and cultivates a diverse community that taps into the collective genius of developers worldwide.

Aligning with Open-Source and Bitcoin Principles

Lightning Bounties embodies the ethos of both the open-source community and Bitcoin itself. It aligns with principles of transparency, collaboration, permissionless contribution, decentralization, and censorship resistance. By enabling anyone to contribute to open-source projects and be instantly rewarded, it creates a new paradigm where online collaboration mirrors these core values.

Promoting a Global, Decentralized Workforce

Lightning Bounties transcends the limitations of traditional freelance models, empowering developers worldwide to collaborate seamlessly. It challenges the notion of a centralized workforce, fostering a paradigm of decentralized collaboration where talent is recognized based on merit, not location. This shift democratizes access to opportunities, enabling developers to forge their own paths as global freelancers.

A New Paradigm for Innovation

Lightning Bounties symbolizes a paradigm shift in open-source collaboration and the future of work. By aligning with principles of decentralization, permissionless participation, and financial inclusivity, it paves the way for a more equitable and innovative digital economy. The platform's commitment to financial inclusivity empowers individuals to take control of their financial futures and participate in the global marketplace on their own terms.

Conclusion

Lightning Bounties represents a transformative vision that aligns the ethos of open-source development with the principles of decentralization and global accessibility. By leveraging the Lightning Network and Bitcoin's borderless nature, it empowers a global workforce of developers to contribute to the future of the decentralized web. As we move forward in this interconnected world, platforms like Lightning Bounties serve as beacons of what's possible when technology, creativity, and inclusivity converge, paving the way for a more equitable and innovative digital future.

Introduction:

Here’s how we made the most of it:

Day 1: Setting the Stage and Building Connections 🌟

We had some amazing conversations, including with:

Talking with these builders wasn’t just inspiring—it gave us a ton of ideas about how Lightning Bounties can help streamline workflows and support creators globally 🌎.

Day 2: Learning and Growing Through Workshops

It was amazing to see how the lessons from these workshops directly reinforced the importance of seamless integration 🌐, something we prioritize in our platform 🛠️.

Day 3: Exploring Real-World Impact

These discussions reinforced the global impact of tools like ours 🌎—making open-source contributions and Bitcoin adoption more accessible, particularly in regions like El Salvador.

Day 4: Closing Strong and Looking Ahead

The energy on the last day ⚡️ solidified a recurring theme throughout TABConf—collaboration is key 🤝. It’s the foundation of the Lightning Bounties vision, and seeing it in action here was inspiring 🚀.

Reflection: Lightning Bounties at TABConf 24

Armed with these experiences and insights 💡, we’re more committed than ever to empowering developers with instant Bitcoin rewards ⚡️💰 and streamlined workflows 🔧. Watch this space 👀 as we take the next steps in redefining open-source collaboration 🌐.

Will Sutton - June 21, 2023

First, LightningAPI's for AI services is the definitive answer to the objection "What can you even buy with bitcoin?" Similar to SilkRoad days, the main thing people will want sats for, is things you can only buy with sats. And since OpenAI, Microsoft et al. will be pressured by their compliance departments, the most powerful and most creative uses will be open source, but difficult to run for the average users (software skills, access to hardware), thus lightning-AI.A couple of overlooked ideas in the thesis for serving models:

• EC2 for GPUs - Generative AI artists have highly variable demand for image generation: sometimes they want access to multiple GPU's at once to generate a bunch of different draft images or render frames in a video, and sometimes they are doing just touch-up and paying for full use of even 1 GPU is overkill. Existing services (or self-service) will not allow you to both pay-per-use and scale up to multiple processing units on-demand.

• This brings up another intriguing idea...the AirBNB GPU strategy, buy to fulfill your own need but also to rent spare capacity. This strategy was mentioned yesterday by GeoHot for his new AI server which have "FLOPcoin" apparently. (See video below)

• Etsy for Models - Currently there's not a great way to monetize a fine tuned model, if you check out civit.ai people are uploading their stable diffusion models simply for clout. With a strong financial incentive, this could supercharge this space, and give the most succeful fine tuners ways to invest into more serious training runs.

Maybe most exciting for the average StackerNews reader is potential for the much awaited bitcoin circular economy: Artists use sats to pay for gpu cycles, gpu suppliers use these sats to buy more servers/models/gpus, and Artists use the images they create to collect more sats from fans/customers. None of these participants even have to like bitcoin, just recognize it's the mana that ties this decentralized ecosystem together.

Welcome to the LB x Top Builder Weekly Recap, where we document our journey through the Top Builder competition. Each week, we provide insights into our progress, highlight key milestones, and share challenges faced by our team. This blog serves as a comprehensive overview of our development efforts, showcasing feature updates, collaborative strategies, and lessons learned along the way. Join us as we reflect on our achievements and outline our next steps in this exciting competition!

Will Sutton, September 13, 2022

A lot of Saylor's Bitcoin concepts, I see originating in a set of ideas that were prominent around MIT in the mid 1980's at the intersection of tech/engineering/operations industry and was adjacent to the failed "cybernetics" project. In this intellectual framework, a key opportunity for the future firm was by collecting and analyzing data at the individual level, corporate outlays and decision would be more efficient. The computing power necessary for this was just beginning to be feasible. I think Saylor was influenced by this view given he is the ceo of a business intelligence vendor doing just this.

As his own firm's product offering hit a ceiling to the value it would deliver from micro-economic measurements (e.g. trying to track inventory level changes) I think he became influenced by the idea of Bitcoin doing something similar, but in the invisible hand manner of pricing in changes and shocks to energy cost, risk preference etc across time and space into one number. In Saylor's view, no firm, of business intelligence software could outcompete the Bitcoin protocol for discovering information and properly factoring it a fair market value.

It's a good sign when people take the idea of Bitcoin, and see in it another idea that they admire and trust. I think the problem you mention is that Saylor's school of thought and lingo are not exactly a well known or admired idea by the vast majority of people considering buying bitcoin.

In my opinion, Saylor is onto something insightful with his "wall of energy" hypothesis, but he hasn't been able to quantify it. The analogy I would make is just as the finance profession prices firms by a discounted set of projected cashflows, a blockchain token could be valued by its projected future hashrate. Stated another way: A bitcoin has value 1.) if and only if producers continue to mine it in the future, 2.) the growth in value is proportional to the growth in the hashrate in the long run.

Welcome to the Lightning Bounties Blog

Our blog serves as a hub for the latest updates, insights, and success stories from our community of bounty hunters and organizations.

Here, bugs become Bitcoin, and code turns into collaboration. As a Bitcoin-powered bug bounty platform, we connect developers and organizations through open-source bounties, rewarding fixes instantly via GitHub and the Lightning Network.

This blog is your backstage pass to:

1. Recaps of Industry Events

2. Blog Posts Written by the Lightning Bounties Team

3. Lightning Bounties in the Media

4. In-depth tutorials for Using Lightning Bounties

5. Platform updates and new features

6. Lightning Network Startup Spotlight

7. and so much more!

Whether you're hunting bounties or securing your codebase, dive into stories of bugs turned into Bitcoin, platform updates, and the future of decentralized development.

Lightning Bounties Event Recaps

Follow our journey through the heart of Bitcoin and Lightning Network events—from global conferences to grassroots meetups. These recaps unpack key debates, live demos of our platform in action, and collaborations forged with builders pushing Bitcoin development forward. Whether we’re onstage discussing protocol upgrades or workshopping ideas at hackathons, you’ll get a front-row seat to how we’re shaping the future of open-source innovation.

Blog Posts Written by the Lightning Bounties Team

Our posts range from historical deep dives into the origins of bug bounties and opinion pieces on Bitcoin’s most influential thinkers, to technical breakdowns of Lightning Network upgrades and candid reflections on building a Bitcoin-native startup. Stay tuned as we share insights, debates, and behind-the-scenes stories.

Lightning Bounties In the Media

Lightning Bounties has been featured in Bitcoin-focused outlets like Bitcoin News and the EarlyDays Podcast, spotlighting our unique model of rewarding developers with instant Bitcoin payouts via the Lightning Network. PlebLab Startup Day highlighted our role in advancing open-source collaboration through real-time bug bounties. Stay tuned for more updates on our growing media presence!

[Coming Soon] Mastering Lightning Bounties: Detailed Tutorials & New Feature Updates:

Welcome to the Lightning Bounties blog section, where you can find in-depth tutorials and the latest platform updates. Our tutorials will help you navigate the Lightning Bounties platform, covering everything from initial setup to advanced features, ensuring you can make the most of your experience.

Stay informed about new features and enhancements to the Lightning Bounties platform, so you can leverage the latest tools and improvements.

Whether you're a newcomer or an experienced user, this section is your go-to resource for mastering Lightning Bounties.

This series explores the diverse teams competing in the Top Builder challenge. Each week, we shine a spotlight on a different team, diving into their project goals, development approach, and unique perspectives. Learn about the innovative solutions, collaborative strategies, and individual experiences that fuel the Top Builder competition. Follow along as we look inside the teams striving to be this year's Top Builder!

Imagine a world where online commerce is truly free - no middlemen taking 15% cuts, no data harvesting, and no restrictions on what you can buy or sell. That's exactly what Shopstr has built. Born from a simple question ("What can you actually buy with Bitcoin?"), Shopstr has emerged as one of the most promising projects in the Top Builder competition.

What is Shopstr?

Shopstr is a decentralized marketplace enabling users to buy and sell goods using Bitcoin anonymously. Unlike traditional platforms like eBay that extract up to 15% from sellers, or Facebook Marketplace's restrictive policies and data collection practices, Shopstr provides a free, open, and globally accessible platform for online commerce. The key differentiator is its commitment to privacy and user sovereignty - there's no KYC, no data harvesting, and most importantly, no middlemen taking hefty fees from transactions.

Technical Innovation:

Built on Nostr and utilizing Cashu for private Bitcoin payments, Shopstr's technical architecture demonstrates how modern protocols can create superior user experiences. The platform gained significant traction after being integrated into Amethyst, a popular Nostr client, showcasing the power of open protocols and community collaboration. This interoperability means listings can appear across multiple platforms while maintaining the privacy-preserving features that make Shopstr unique.

Why It Matters:

Shopstr represents what online marketplaces should be: open, private, and accessible to everyone. By combining Bitcoin payments with Nostr's decentralized communication, they're creating a platform where anyone can participate in global commerce without restrictions or excessive fees. Their focus on privacy and user sovereignty aligns perfectly with Bitcoin's core values, while their commitment to simplicity makes it accessible to newcomers.

Looking beyond traditional e-commerce models, Shopstr's approach to merchant empowerment is revolutionary. While platforms like eBay and Amazon focus on maximizing their own profits through fees and data collection, Shopstr prioritizes creating direct connections between buyers and sellers. This approach not only reduces costs but also builds stronger community relationships and trust within the marketplace.

The Inspiration behind Shopstr:

The idea for Shopstr came from a simple question - what can you actually buy with Bitcoin? When founder Calvadev's father asked this, it highlighted a crucial gap in the Bitcoin ecosystem. While inspired by early pioneers like Silk Road's vision of free market exchange, Shopstr takes a different approach - focusing on empowering individual creators and artisans through Bitcoin and Nostr. This vision of enabling permissionless commerce while maintaining privacy and security has resonated strongly with the community.

Advice for Aspiring Builders:

Calvadev's journey offers valuable insights about the importance of just starting and finding your community. "The most important thing is throwing something out there," he shares, emphasizing how surrounding yourself with motivated builders can spark innovation. From attending hackathons to joining builder communities, Shopstr's growth demonstrates how community connections can transform an idea into reality.

Getting Started:

Enrique Gamboa, May 5 2024

Introduction 🌟

The Hackathon Challenge ⚙️

(continued...)

Will Sutton - August 27, 2024

LN economics are anti-exciting

Yeah, lightning has by far the lowest "yield" of any project out there. Estimates as low as 2% for running a routing node. Pretty much every other crypto project promises at least double digit yield. On top of that, crypto promises huge number-go-up events on the horizon. Further, all lightning companies combined have less than 1% of the on-chain capital deployed to them. While most other projects take huge pre-mines for insiders. So lightning has low yield, capped upside, and almost no starting capital of its own to disburse. In other words: all the financing tricks and marketing tricks which make starting a speculative venture in every other sphere of crypto so easy are not available to us.

LApp economics ain't pretty either

Building tech on lightning has an similar feeling and it's easy to turn envious seeing lots of other fluff startups in both crypto and non-crypto get easy investments, get connections made for them, and even if it fails they get acqui-hired .But 99% of venture capital is not going to consider backing a lightning company. So those easy short term wins - money, status, validation - aren't walking through the door tomorrow. But a hacker just might, and zero your funds. This is no country for old men.

Why do we do this?

From a man who chose to do something really hard without a clear reason: "It is not the mountain we conquer, but ourselves." That might be the right mindset for people who are battling the really bad odds in this industry. We ourselves cannot conquer the crony capitalists, the fed, the world financial system. It's our own selves that we can battle: our laziness, close-mindedness, fear, greed, and envy of others. You climb that mountain one painstaking breath at a time. Look to the left and to the right, death falls into a crevasse. It's strangely beautiful up here, but keep looking forward because if you stop you will die. But if that's not you, yeah turn back now. Like I said before, the yield sucks.

PlebLab's Week 5 Recap: Lightning Bounties

Week 5 of PlebLab's Top Builder competition marked a pivotal moment for Lightning Bounties. Not only did we advance to Round 2, but we also had the privilege of learning from industry leaders who shared invaluable insights about building in the Bitcoin space. From mastering UI/UX design with AI tools to understanding startup growth strategies, this week's mentorship sessions and workshops equipped us with practical knowledge to enhance our platform.

Let's dive into the key insights from this week's mentor sessions and workshops:

Austin Kelsay (PlebDevs & Voltage)

Ted Thayer (FeedFilter AI)

Ted Thayer from FeedFilter.AI delivered a thought-provoking session focused on the critical aspects of building and pitching Bitcoin startups. Drawing from his experience with three early-stage startups, Ted emphasized the fundamental importance of thorough market research and understanding user problems. His current venture, FeedFilter.AI, which helps users filter out unwanted content from social media feeds, served as a practical example of identifying and solving real user pain points. For our team at Lightning Bounties, his insights about conducting market research early and often resonated deeply with our mission to make bug bounty hunting more accessible and rewarding.

The session transformed how we view Lightning Bounties' market potential and pitch strategy. Ted's advice to "build your startup deck, then think about removing 90% of your words to condense your value prop" helped us refine our core message: anyone with a GitHub account can earn Bitcoin instantly through open-source contributions. His warning about Bitcoin founders underselling their total addressable market (TAM) hit home - our platform's reach extends to every developer and organization using GitHub worldwide.

Bitcoin UX For the Streets by Stephen Delorme

The workshop's emphasis on UI/UX testing strategies, particularly gathering multiple perspectives while making users comfortable with statements like "We are testing the UI/UX, not you," is a statment I'll be repeating when gathering feedback on our own platform.

Must Watch Branta on Early Days Podcast

Top Builder Round 2 Team Announcements

Click the project cards below to explore what each Round 2 team is building and discover the next wave of Lightning Network innovation.

Lightning Bounties' Round 1 Recap In 100 Seconds

Want to see Lightning Bounties' journey through Round 1? Check out our "Lightning Bounties Round 1 Recap in 100 Seconds" below for a rapid-fire tour of our key milestones and achievements!

Closing Thoughts:

As we move into Round 2 of Top Builder, the competition is fiercer than ever. We're already brainstorming ideas for a 'home run' feature or partnership that would energize the entire PlebDev ecosystem and strengthen our bid for the final five. The caliber of projects advancing alongside us is incredible, pushing us to think bigger and build better.

Imagine this: After months of stacking sats on exchanges, you're ready to take the orange pill and truly own your Bitcoin. The horror stories of exchange collapses like FTX have you itching to self-custody. But as you prepare to move your hard-earned Bitcoin to your own wallet, a pit forms in your stomach. What if you make a mistake? What if you send your Bitcoin to the wrong address, never to be seen again?

This fear isn't unfounded. In the unforgiving world of Bitcoin, one wrong move can mean irreversible loss. It's precisely this anxiety that Branta, part of PlebLab's Top Builder Season 2, aims to address. By tackling one of the most critical challenges in the Bitcoin ecosystem, Branta is on a mission to make transactions safer and more accessible for everyone. But how exactly does it work to alleviate the fear of sending your Bitcoin to the wrong address?

What is Branta?

Branta acts as an invisible layer of protection that runs alongside Bitcoin wallets. It provides an extra shield against phishing attacks and malicious threats, such as clipboard attacks. Branta verifies the authenticity of wallet software, which helps protect users from inadvertently interacting with harmful entities.

Here's a simplified diagram of its functionality:

Key Features of Branta

Branta enhances your Bitcoin experience with the following key features:

1. Wallet Verification

   • Automatically scans your downloads folder.

   • Checks PGP keys of wallet installation files against known legitimate keys.

   • Ensures you're not installing malware or compromised wallets.

2. Transaction Protection

   • Provides visibility into your clipboard at runtime.

   • Prevents malware from swapping your Bitcoin addresses during transactions.

   • Protects against man-in-the-middle attacks.

3. Merchant Verification

   • Offers API support for verifying the authenticity of merchant addresses.

   • Reduces the risk of sending funds to impersonators.

4. Lightning Network Integration

   • Supports Lightning Network functionality.

   • Enables faster and more efficient Bitcoin transactions while maintaining security.

Here's how Branta works in practice:

Example 1: Wallet Download Protection

Imagine you're downloading Sparrow Wallet for the first time. You might not realize there's a difference between sparrow .com and sparrow .org, and one of these could be an imposter site.

Here's how Branta protects you:

This proactive approach significantly reduces the risk of users falling victim to sophisticated phishing attempts that target the very tools meant to keep Bitcoin safe.

Example 2: Transaction Protection

When making a Bitcoin transaction, Branta ensures your intended recipient address isn't swapped by malware:

Branta x Lightning Bounties Partnership

We at Lightning Bounties are thrilled to be partnered with Branta! We've integrated Branta directly into our application, providing an unparalleled level of security for our users. We can't think of a better way to keep our users safe than having Branta as our security layer. This integration ensures that every transaction, whether on-chain or through the Lightning Network, is protected by Branta's advanced security features.

The Inspiration Behind Branta

The development of Branta stems from a deeply personal understanding of the risks involved in handling Bitcoin. Keith, the creator of Branta, was inspired by his own journey into Bitcoin security. As he puts it, "Once you buy your first significant amount of Bitcoin, you start thinking, how do I keep my Bitcoin safe?" This relatable concern led him to explore the mindset of potential attackers, ultimately driving the creation of Branta. Keith Gardner's approach to Bitcoin security extends beyond just software solutions. He emphasizes the importance of user education and vigilance.

Some of his top tips for guarding against phishing and man-in-the-middle attacks include:

1. Protecting your email inbox vigorously, as it's often the first point of entry for attackers.

2. Being extremely cautious of any messages that create a sense of urgency, especially those asking you to log in immediately to prevent account closure.

3. Exercising caution when using large group messaging apps like Telegram or Signal, and avoiding clicking on links shared in these platforms.

By combining robust software protection with user education, Branta aims to create a comprehensive security solution for Bitcoin users of all levels of experience.

Conclusion

Branta is transforming Bitcoin security. Whether you're self-custodying your first sats or managing a significant stack as a seasoned Bitcoiner, Branta offers peace of mind by addressing critical vulnerabilities like phishing attacks, wallet authenticity, and address verification. It doesn’t hold your seed phrase and integrates seamlessly into existing setups or applications.

Bitcoiners deserve tools that make transacting safe without sacrificing sovereignty. Branta delivers exactly that—an invisible layer of protection that ensures you're sending to the right place and using authentic software. It’s simple to add, powerful in its protection, and essential for anyone serious about securing their Bitcoin.

Branta isn’t just a product; it’s a solution helping Bitcoiners sleep better at night.

To discover more about Branta, click on the images below to explore their website, Twitter, and GitHub!

Want to make our documentation even better? First of all, thank you! This page will guide you through our contribution process, including:

• The steps you need to follow to make contributions and edits on our blog.

Understanding GitBook's integration with GitHub

First page
├── A group of pages

│   ├── A page
│   ├── Another page
│   ├── One more page
│   │   ├── A nested page
│   │   └── Another nested page

Its mirror to GitHub, on the other hand, would have the following structure:

├── .gitbook/
│    └── assets/
│    │    └── an-image.png
├── a-group-of-pages/
│    ├── a-page.md
│    ├── another-page.md
│    ├── one-more-page/
│    │    ├── README.md
│    │    ├── a-nested-page.md
│    │    └── another-nested-page.md
├── README.md
└── SUMMARY.md

• The .gitbook/assets folder manages every file used in any page.

• The SUMMARY.md file tells GitBook in which order we wish to display our pages and what groups there are in our documentation.

• The README.md file in the main folder has the contents of the first page users see when accessing the documentation website.

• Groups of pages are controlled by folders named after the group title (i.e. a-group-of-pages).

• Nested pages have a similar structure to groups of pages; however, a README.md file with the contents of the parent page must be added to the folder named after the parent page title.

Editing Existing Pages

1. Open the page you want to edit. What you see next depends on the resolution of your screen and whether you are viewing that page zoomed in or not.

a. On certain occasions, you may see a button saying Edit on GitHub above the Table of Contents on the right side of the page.

2. Click on the GitHub icon. This will direct you to the Markdown file in which the contents of the page are stored.

3. Click on the pencil icon (labeled "Edit this file"). This will open a basic editing environment in which you are able to customize aspects like line wrap and indentation.

5. When you are done making changes, scroll down and write a short description of your changes. Select the option Create a new branch for this commit and start a pull request and click on Propose file change. This will direct you to the Pull request page.

6. On the Pull request page, write a short comment explaining why are proposing those changes (e.g. improving readability, covering cases that weren't mentioned, adding critical details about our platform) and publish your pull request clicking on Create pull request.

Earning Rewards

2. Look for bounties titled "Help Improve Our Blog & Docs and Earn Sats!"

3. Claim a bounty by linking your pull request

4. Once approved, you'll receive sats as a reward!

Additional Info

Thank you for helping us improve our documentation!

PlebLab's Week 3 Recap: Lightning Bounties

Documenting our journey through PlebLab's Top Builder competition is more than just a weekly update—it's an inside look at the valuable resources and mentorship shaping the future of Bitcoin innovation. Week 3 was particularly intense, packed with workshops that delivered crucial insights for early-stage startups like Lightning Bounties. This week, we had the privilege of attending four transformative sessions:

Documenting our journey through PlebLab’s Top Builder competition isn’t just about weekly check-ins—it’s a front-row seat to the groundbreaking ideas and mentorship shaping Bitcoin’s next wave of innovation. Week 3 pushed us to new limits, packed with intensive workshops that delivered critical insights for early-stage startups like Lightning Bounties. This week, we participated in four transformative sessions led by industry pioneers, each unpacking strategies to navigate the unique challenges of building in Bitcoin. From refining user experiences to rethinking fundraising, here’s how these lessons are accelerating our mission to create a Bitcoin-powered bug bounty platform that rewards developers worldwide—in real time, directly through GitHub—for fixing software bugs.

5. Timestamp Financial: Invest In Bitcoin Startups with as Little as $100

Each workshop was so rich with actionable advice that we've decided to focus on highlighting key takeaways rather than diving deep into each one. To do justice to these presentations would require a much longer read, but we encourage fellow builders to seek out these mentors directly.

Each workshop was packed with actionable insights that could fill an entire playbook. While we’re focusing on key takeaways here, we encourage you to watch the full sessions (links below) to absorb the depth of knowledge shared. No summary can fully capture the wealth of knowledge that came with each of these session, but we're gonna try anyways. First up Media strategy with 21M Communictions.

Key insights included refining our messaging for distinct audiences—crafting specialized pitches for project owners (B2B) versus developers (B2C)—and building partnerships to strengthen trust. We’re also prioritizing collaboration with Bitcoin communities in regions like Africa, where challenges like currency volatility make Lightning solutions critical. To combat legacy media’s narrow focus on price swings, we’re steering conversations toward our core purpose: enabling instant, borderless payments for developers. These strategies not only sharpen our focus during Top Builder but also lay groundwork for lasting impact, ensuring Bitcoin remains a tool for global financial freedom.

AMA Session with Topher Scott

This week’s AMA with Topher Scott highlighted a critical insight: Lightning’s growth depends on lowering barriers to entry, not just moving money. At Lightning Bounties, we’re leveraging our Lightning Instance—a self-hosted node that enables developers to earn Bitcoin without needing external wallets. This approach directly addresses the friction many new users face, especially those transitioning from Web2. Hearing Super Testnet’s emphasis on comprehensive documentation resonated deeply, as we’re currently building detailed guides through our documentation, crafting short form YouTube tutorials for using our platform, and planning future workshops to educate users. For developers unfamiliar with Lightning, these resources will demystify everything from claiming bounties to withdrawing sats, making sure no one gets left behind.

This session reminded us that Lightning is still in its infancy, with vast opportunities for innovation. Collaboration, not competition, drives progress. We’re actively partnering with Top Builder teams and engaging the PlebLab community to refine our platform.

Product, Users, and Revenue with Santos Hernandez

Santos' mentorship session discussed the importance of user-centric design and strategic monetization for Bitcoin startups. A key takeaway was the need to prioritize honest user feedback through anonymous surveys, asking questions like “What frustrates you about our platform?” to uncover pain points. For Lightning Bounties, this means incentivizing developers with sats for candid feedback, ensuring we address barriers for global contributors. Santos stressed that ignoring competitors is a red flag—rigorous SWOT analysis helps identify gaps in the market. For example, studying how competitors handle onboarding or fees allows us to refine our own approach, focusing on what Michael Porter calls “choosing what not to do.”

Monetization & Growth: Lessons for Lightning Startups Santos challenged the myth of delaying revenue, urging startups to monetize early. For Lightning Bounties, this could start with testing a small fee-per-bounty model while focusing on retention through gamification (e.g., achievement badges for top contributors). Email marketing, often overlooked in Bitcoin, offers a 36:1 ROI—a tool we’ll leverage for product updates and educational content. Retention tactics like rewarding loyal users and reactivating inactive ones are 5-25x cheaper than acquisition.

Collaboration within the Top Builder ecosystem, such as cross-promotions with other teams, amplifies growth organically. Ultimately, the workshop reinforced that Bitcoin startups thrive by balancing user needs with sustainable revenue. This means staying lean, iterating quickly, and keeping the “build in public” ethos at the core—turning every piece of feedback into a step toward reshaping open-source collaboration.

Investing in Bitcoin Companies with Dr. Arman Meguerian

For Lightning Bounties, Timestamp represents more than funding—it’s a community-powered launchpad. While we’re early in our C-corp transition, the platform’s ethos mirrors our vision of open collaboration. Future listings will invite supporters to back our mission directly, turning users into stakeholders. As we refine our pitch and structure, Timestamp’s model—like Arman’s mantra of “no half-measures”—reminds us that Bitcoin’s future is built by those willing to democratize access, one satoshi at a time.

Wrapping it Up

These workshops have reshaped our approach to everything from user onboarding to fundraising strategy. As we apply these lessons, we're more committed than ever to building in public and iterating quickly based on user feedback.

Next week's edition, we'll shift focus to Lightning Bounties' recent developments, including:

• More bounties are being solved on our platform thanks to the addition of new bounty hunters.

• A comprehensive explainer on why GitHub login is necessary (we only request read-only access)

• Exciting discussions at the MIT BTC Expo on mentoring hackers and organizing bounty postings for hackathon projects.

Plus much much more! Tune in next week for TopBuilder Recap week 4!

PlebLab's Week 1 Recap: Lightning Bounties

Let's Dive into Week 1 of Top Builder

In this section, we'll explore the events and highlights of the first week.

Welcome to the inaugural edition of PlebLab's Week 1 Recap, presenting insights from the perspective of Lightning Bounties! In this edition, we’ll share the valuable lessons we've learned, highlight the progress we've made with developing our bounty platform, and offer an overview of the engaging Top Builder workshops.

Meeting the Teams

We had an exciting opportunity to preview and meet the participants in the Top Builder contest. This competition is filled with innovative projects designed to onboard new users to start stacking sats and use Bitcoin in unprecedented ways.

Seeing all of these amazing projects and meeting the teams behind them got us over at the Lightning Bounties team excited to roll up our sleeves and get involved. Here is a brief breakdown of what we have accomplished in Week 1

Putting Together Our Roadmaps: Dev and Biz Dev Bored

Roadmap and Task Breakdown

Before diving into development, we prepared a milestone roadmap and task list. Our roadmap is divided into two main sections:

• Developer Tasks: Handled by Will and Pavel.

• Business Development: Managed by Enrique and Mike.

Developer Roadmap /Issue Tracker for Top Builder

Biz Dev Roadmap /Tasks Tracker for Top Builder

Together, these tools ensure we’re not just moving forward but doing so with clarity and purpose.

New Feature: Lock Time and Expiration for Bounties

The Dev Team introduced a lock time feature that holds each bounty’s reward in escrow for a set period—typically recommended at two weeks. This locked window confirms for bounty hunters that if they submit a valid solution before the time is up, the reward is guaranteed. However, once the lock time ends, the reward doesn’t automatically disappear—bounty hunters can still claim it. What does change is that the bounty poster now has the option to expire the bounty if their priorities shift or if they solve the issue independently. Through this approach, bounty hunting becomes less risky for contributors (they know funds are firmly allocated) and more flexible for project teams (they can quickly adapt and reclaim funds for other pressing needs).

Overall, lock times protect hunters by assuring them the reward is available, while expiration safeguards bounty posters by letting them recover any unclaimed rewards for future bounties or other development tasks. This balance of certainty and flexibility makes bounty-driven collaboration smoother and more efficient.

This feature is currently in our test app but willl be implemented in our main app in the coming weeks.

Workshop: 'Beyond the Hype Validating Your Bitcoin Idea' By Teresa Martin

One of the key takeaways was the importance of concept viability. It's not enough to have a cool idea; we need to ensure our solution addresses a real problem and is unique enough to stand out in the market. This immediately resonated with me due to my past experiences with doing tokenomics analysis for early-stage projects looking to launch a token. Most of my work involved competitor analysis researching how our clients' projects would bring in demand for their tokens. To make a long story short, most of the projects I researched were forks of existing successful projects that claimed to be different or innovative. The truth is, these projects were all the same, just different front-end code.

Another valuable lesson was about gathering feedback and testing early. Teresa suggested building prototypes and testing concepts before investing too much time and resources into full product development. We have begun interviewing our bounty hunters and the feedback has been incredible. However, we are always looking for feedback and implementing features, so feel free to contact us with any suggestions and we can set up a time to discuss each other’s projects. For your time, we are happy to pay you some sats for your feedback.

Teresa’s presentation has reinforced the importance of thorough in-depth research, resilience, and tapping into the experience of those who have navigated these waters before can be incredibly beneficial in building a successful Bitcoin-focused business.

With this in mind, we are lucky to be part of Top Builder where we can connect with founders who've secured investments in the Bitcoin space which will be a priority for us. Their insights and advice will be crucial as we navigate the unique challenges of building a Bitcoin-native business.

Wrapping it Up:

The Lightning Bounties team is dedicated to sustaining our current momentum and is excited to see continued growth from the ideas and projects generated this week. These will significantly contribute to the wider Lightning Network community. For those interested in joining our mission, we welcome your involvement to help make an impact.

After an energizing Week 1, we are focused on advancing our roadmap, launching new features, and applying insights from Pleblab mentors and fellow builders. This week has laid a solid foundation for future initiatives.

The Top Builder competition has already emerged as an excellent avenue for growth, learning, and networking with other passionate Bitcoin builders. We eagerly anticipate the developments of Week 2 as we continue advancing Lightning Bounties!

PlebLab's Week 4 Recap: Lightning Bounties

Week 4 of PlebLab's Top Builder competition has been transformative for Lightning Bounties. From laying groundwork as possible mentors at the 2025 MIT Bitcoin Expo to enhancing our platform's documentation with a revamped blog landing page, and launching our first experimental live coding session - each milestone demonstrates our commitment to building value for the Bitcoin ecosystem. These achievements not only showcase our progress in the competition but also highlight our dedication to making bug bounty hunting more accessible and rewarding for developers worldwide. Let's dive into these developments that are shaping our journey through Top Builder.

This Week's Journey: A Snapshot

Must Watch Content

Lightning Bounties: Milestones & Achievements

Bitcoin Marketing & Media with Brandon Keys

Brandon Keys delivered some hard-hitting truths that changed our perspective on marketing in the Bitcoin space. The biggest wake-up call? The best products don't always win—it's the ones that are effectively marketed and sold that succeed. As we build Lightning Bounties, this hit home: creating an amazing platform is crucial, but getting our message out there is equally important. Brandon encouraged us to start marketing now, not wait for some mythical "perfect moment," and to keep our branding consistent even if we're still refining our approach.

His practical content creation tips were game-changing, especially around the power of presentation. When Brandon shared how he achieved 55x more views just by improving a thumbnail, it really drove home the importance of these seemingly small details. For our team, this means rethinking how we showcase our demos, educational content, and technical updates. What really resonated was his emphasis on personal branding within the Bitcoin ecosystem—showing the human side of our platform and sharing our building journey openly. It's exactly what we need as we continue building in public and engaging with fellow developers.

Shopstr on Early Days Podcast!

What makes Shopstr truly revolutionary is how it solves fundamental problems in e-commerce. In their Early Days interview, CalDev shares how Shopstr emerged from the need to create a truly permissionless marketplace - one without the restrictive policies, high fees, and centralized control that plague Web2 platforms. Their mission extends beyond just creating another shopping site; it's about building a future where commerce is peer-to-peer, borderless, and accessible to everyone. The team's approach to bridging the gap to mainstream users is particularly impressive - making Bitcoin commerce as simple as traditional online shopping while maintaining the core benefits of decentralization.

For aspiring builders in the Bitcoin space, Shopstr's journey offers valuable insights about focusing on user experience without compromising on decentralization principles. Want to experience the future of e-commerce yourself?

Lightning Bounties: Milestones & Achievements

Week 4 marks significant strides in our platform's evolution and community engagement. From taking our first steps toward mentoring at the 2025 MIT Bitcoin Expo to improving our documentation with a revamped blog landing page, and conducting our first live coding session trial - each milestone reflects our commitment to building in public and fostering collaboration within the Top Builder competition. Let's dive into these achievements.

Initial Steps Toward Mentoring in the 2025 MIT Bitcoin Expo Hackathon

Recent discussions with the MIT Bitcoin Expo organizers have opened exciting opportunities for Lightning Bounties to give back to the community that helped launch us. We'll be sharing our experience and knowledge with the next generation of Bitcoin builders, helping teams develop their ideas and navigate the challenges we faced just a year ago. Our focus will be on supporting projects that align with freedom tech principles and fostering the kind of innovation that can shape Bitcoin's future.

The expo represents a unique opportunity to connect with builders, learn from industry leaders, and potentially launch your own Bitcoin journey - just like we did.

Blog Landing Page Improvements

The evolution of our blog's landing page reflects our commitment to building comprehensive, accessible documentation for the Lightning Bounties community. By restructuring our content into clear categories - from event recaps and team insights to media coverage and upcoming tutorials - we're making it easier for users to navigate our growing knowledge base.

Whether you're exploring our platform updates, diving into technical guides, or following our building journey through the Bitcoin ecosystem, the improved layout ensures a smoother path to the information you need. It's all part of our iterative approach to building in public and growing alongside our community of builders and bounty hunters.

Click the video below to see a quick visual of the before and after!

First Live Coding Session (Trial Run)

PlebBook stands as the essential builder's manual for the Bitcoin and Lightning ecosystem, serving as a comprehensive resource hub where developers and enthusiasts can learn, contribute, and grow. Think of it as community-driven documentation that helps bridge the gap between curiosity and capability in the Bitcoin building space. This week's featured bounty presents an exciting opportunity to help refresh PlebBook's content across 24 different categories. The Bitcoin ecosystem evolves rapidly, and keeping documentation current is crucial for newcomers and experienced builders alike.

By contributing to PlebBook, you're not just earning sats—you're helping maintain a vital resource that empowers the next generation of Bitcoin builders.

Why does this matter? Because documentation is the foundation of adoption. Every line you update, every concept you clarify, and every category you refresh makes Bitcoin development more accessible to someone starting their journey. Plus, you'll earn sats for each successfully updated category while gaining recognition as a PlebBook contributor. Ready to make an impact?

Looking Ahead: What's Next for Lightning Bounties

As we wrap up Week 4 of PlebLab's Top Builder competition, anticipation builds for next week's crucial milestone - the end of Round 1. The competition has pushed us to grow, innovate, and strengthen our platform in ways we couldn't have imagined.

Will Lightning Bounties advance to Round 2? The stakes are high, and we've poured our hearts into building value for the Bitcoin ecosystem. Tune in next week for our final Round 1 recap to find out if we make the cut and continue our journey in this incredible competition!

Welcome to Lightning Bounties x Top Builder Page

Thank you for checking out our blog! We document our progress in the PlebLabs Top Builder competition, provide insights into what Lightning Bounties is all about, and share updates on what we and other top builder teams are working with each week.

We're Lightning Bounties, dedicating ourselves to Bitcoin Bug Bounties on GitHub!

Our Goals For Top Builder

At Lightning Bounties, our main goal through the Top Builder competition is to collaborate, build, and learn with participating teams and mentors. You can join us with building Lightning Bounties and earn sats in the process. Need help fixing a pesky bug or want to add a cool feature on your Top Builder projct?

About Lightning Bounties

Open-source software powers the world, yet millions of talented developers remain on the sidelines, constrained by geographical and financial barriers. Imagine if these brilliant minds could contribute freely, unburdened by banking restrictions or currency conversion headaches. What if their code could instantly translate into fair compensation, regardless of their location?

Enter Lightning Bounties: the fusion of Bitcoin's borderless ethos with GitHub's collaborative spirit. We're not just incentivizing developers; we're liberating them. With our platform, contributors receive Bitcoin payments at the speed of committing, directly on GitHub. No more waiting. No more restrictions. Just pure, unadulterated coding freedom.

Lightning Bounties isn't just changing how developers get paid—it's transforming the very fabric of open-source collaboration. Welcome to the future of GitHub, where your code doesn't just make a difference—it makes you money.

Weekly Insights

Read our weekly blogs on what the LB team is building/learning & the innovative projects in Top Builder!

Follow Lightning Bounties Throughout Top Builder

Stay informed about our progress and updates during the Top Builder competition by using the following trackers:

Lightning Bounties Team

TopBuilder Teams

Discover the projects shaping the future of Bitcoin and Lightning Network in this year's Top Builder competition. Each team card links to their project site, Click each project to visit their site and engage with their fun and game-changing apps.

Lightning Bounties Socials

Connect with us and stay up-to-date. Engage through direct communication, code exploration, or follow us on our various social media platforms.

About Top Builder

Top Builder is a three-month competition that invites teams from around the globe to tackle real-world challenges and create impactful Bitcoin solutions.

This program emphasizes mentorship, community collaboration, and technical innovation, offering participants a unique opportunity to gain exposure and showcase their work.

Key Dates:

• Round 1 (January 6 – February 8): Teams are mentored and judged on initial milestones.

• Round 2 (February 9 – 22): Half the teams continue, refining their projects.

• Final Round (Starting February 23): The top 5 teams are selected to pitch live at Startup Day in Austin.

About PlebLab

PlebLab is a Bitcoin-focused hackerspace and accelerator dedicated to supporting open-source innovation and fostering a thriving community of developers, creatives, and entrepreneurs.

Based in Austin, Texas, PlebLab empowers the next generation of Bitcoin builders to turn bold ideas into impactful solutions.

This week, Lightning Bounties doubled down on growth—sharpening strategy with mentors like Alby’s Moritz Kaminski, tightening legal safeguards via Jim Chester’s no-nonsense advice, and refining PR tactics with Phil's media mastery. On our own platform, two new features (Anonymous Rewards and Add Without Login) began dismantling barriers to collaboration, letting anyone contribute sats—privately or effortlessly. Here’s what went down in Week 6 of PlebLab's Top Builder competition.

Mentor Session - Moritz Kaminski of Alby

During our mentorship session Moritz showcased, his deep understanding of two-sided markets in Bitcoin shone through. He pointed out a crucial insight about bounty platforms: while finding hunters is relatively straightforward, securing organizations to post bounties presents the real challenge. His experience with Alby's scattered bounty system across GitHub, separate bounty platforms, and their website highlighted the need for consolidation. The suggestion to start with simpler bounties - focusing on front-end fixes or documentation - before tackling complex Lightning-specific issues resonated strongly. His emphasis on tiered difficulty levels to manage submission quality felt particularly relevant.

On the fundraising front, Moritz didn't sugarcoat his advice. He stressed quick closure when a fund shows interest rather than shopping for better terms. For pre-seed valuations, he shared that companies with solid user traction could reasonably target a $3 million pre-seed valuation cap. The fundraising strategy he outlined was refreshingly practical: rank potential investors from most to least desirable, and work down the list systematically.

Company Killers: 8 Common Legal Mistakes that Startups Make with Jim Chester

Navigating Bitcoin’s legal gray zones demands equal parts innovation and prudence. In a recent mentorship session with Jim Chester, a 25-year tech lawyer and SMU professor, Lightning Bounties absorbed hard truths about startup pitfalls. Chester—a veteran of Bitcoin ventures—stressed that legal hygiene isn’t optional, even in decentralized ecosystems.

Here’s how his advice applies to Bitcoin builders:

1. No Legal Budget

“Bitcoin startups aren’t exempt from legal fires.”

Set aside funds for foundational legal work upfront—even 5-10% of early capital. For Lightning Bounties, this meant drafting multisig escrow clauses and reviewing state-specific Bitcoin regulations.

2. Wrong Lawyer Choice

“BigLaw bills like Fortune 500 clients; Bitcoin needs specialists.”

Opt for lawyers fluent in crypto’s risks (e.g., securities law for holding bounties in escrow). Avoid firms allergic to “chaotic awesomeness” of startups.

3. Overcomplicated Entity Structure

“Delaware C-Corp? Coming Soon”

Start as a simple LLC (e.g., Texas) to avoid governance bloat. Convert only when investors demand it. Lightning Bounties is staying lean until traction justified complexity.

4. Copied Contracts

“ChatGPT privacy policies = legal Russian roulette.”

Generic template terms from the likes of ChatGPT miss Bitcoin-specific risks (e.g., time-locked sats, Nostr integrations). Jim advised reverse-engineering competitors’ docs for industry nuances—then customizing these documents with the help of an expierenced attorney.

5. Inadequate Founder Agreements

“Ambiguity = litigation grenade.”

Define equity splits, vesting (4-year cliffs), and IP ownership day one. Lightning Bounties added clawbacks for inactive co-founders.

6. Giving Equity Like Candy

“Equity is irreversible—vest it or regret it.”

No free shares for “advisors” without deliverables. For Bitcoin projects, tie equity to code commits or bounty resolutions.

7. Ignoring IP Ownership

“Your dev’s code ≠ your company’s code.”

Use Founder IP Agreements to transfer ownership. Lightning Bounties now auto-include these for open-source contributors.

8. No Succession Plan

“What if your CTO gets hit by a bus?”

Define buyout terms (sats-based valuations) and equity redistribution. For decentralized teams, codify this in smart contracts.

Jim’s Bitcoin-Specific Wisdom

• “Your v1 legal strategy will suck. Iterate publicly.”

• Use BDD (Budget/Deadline/Deliverable) with lawyers: “Draft a Lightning-compliant bounty agreement”

• Never lie to counsel—regulators already assume you’re guilty.

Lightning Bounties left with actionable fixes: tightening NDAs, and auditing competitor TOS.

Bitcoin PR for Startups with Phil from 21M

Phil from 21M Communications broke down PR strategy into three core buckets for Bitcoin builders: announcements, media activity, and content—with events as a bonus lever. For startups like Lightning Bounties, announcements (funding rounds, partnerships, novel features) offer the biggest visibility spikes, but only if they’re truly newsworthy. Phil stressed avoiding AI-generated fluff words (i.e: “revolutionary,” “game-changing”) and keeping announcements concise (1-1.5 pages max) with founder quotes that add grit—like explaining how Bitcoin-native escrow solves real dev pain points.

Long-term, Phil framed PR as a marathon: weekly refinement of op-eds (800-1,000 words problem-solving Bitcoin’s friction points), podcast clips repurposed into social soundbites, and “newsjacking” trends (e.g., tying announcements to nation-state adoption). His blunt advice? “Be spicy but strategic.” For Lightning Bounties, this means pitching data-driven stories (e.g., “Nigeria Tops Bounty Earnings Amid Hyperinflation”) while building relationships with reporters who live in Bitcoin’s trenches.

“PR isn’t about hype—it’s about proving you’re solving real problems.” – Phil’s parting wisdom.

Must Watch: Cozy on Early Days Podcast

Kiki’s Journey to Building Cozy

Kiki’s path to tech innovation defies convention. A former artist, and dog trainer, she stumbled into coding while helping an artist collective explore virtual reality (VR) and 3D modeling. Her Venezuelan upbringing—marked by hyperinflation and distrust in centralized systems—fueled her fascination with Bitcoin’s decentralized promise. After enrolling in a VR program and winning third place at her first Bitcoin hackathon in Austin, Kiki merged her creative instincts with technical rigor. This fusion birthed Cozy, a gaming experience blending Tamagotchi-like digital pets with Bitcoin-powered utility. Players train AI agents to perform real-world tasks—like purchasing items via Lightning or managing social media—while earning sats through challenges. For Kiki, Cozy isn’t just a game; it’s a gateway to financial sovereignty, where playful interactions teach Bitcoin’s value without complex jargon.

Cozy’s Vision: Where Play Meets Pragmatism

Cozy reimagines gaming as a tool for everyday Bitcoin adoption. Set in a vibrant, interconnected world, players customize AI agents that handle practical tasks—think virtual pets that pay invoices or crowdfund projects. Kiki envisions a deep in-game economy reflecting real-world transactions, powered entirely by Bitcoin. Drawing inspiration from machine-to-machine payment trends and Nostr’s decentralized social layer, she aims to eliminate friction between play and utility. Within 18 months, Kiki plans to assemble a team to expand Cozy’s ecosystem, emphasizing community collaboration—a lesson from her hackathon days. For newcomers intimidated by Bitcoin’s complexity, Cozy offers a whimsical on-ramp: “Play,” she says, “is the best teacher.” As VR and AI reshape digital interaction, Kiki’s work proves creativity and decentralized principles can coexist—one playful agent at a time.

Meet the Top Builders Stream

Here’s a closer look at the teams pushing Bitcoin’s boundaries.

Meet the Teams

• Description: A Bitcoin-native bug bounty platform where developers solve GitHub issues for Bitcoin.

• Mission: Democratizing open-source development: We pay contributors in Bitcoin to fix bugs and grow the Lightning Network, one bounty at a time.

• Origin Story: Lightning Bounties was born at the 2024 MIT Bitcoin Expo Hackathon, where our team developed the initial prototype to bridge the gap between open-source development and Bitcoin compensation. The project gained significant momentum after participating in the 2024 PlebLab Startup Day in Mexico City. Our platform aims to strengthen the Bitcoin ecosystem by providing sustainable incentives for developers while maintaining the decentralized ethos of both Bitcoin and open-source development.

• Quote: “We’re building tools to turn every developer into a Bitcoin contributor.”

• Description: Jippi is Pokémon GO for Bitcoin.

• Mission: To educate the next generation of Bitcoiners through gamification.

• Origin Story: Jippi began as a hobby project in 2022 and was born from Oliver's love for Bitcoin and education. As a receiver of the orange pill in 2020, he started learning through various books, podcasts, and articles that make up the recommended learning for new Bitcoiners. This multitude of content was overwhelming at the time. He decided to set to work to build the most accessible on-ramp into the Bitcoin ecosystem for beginners. A fun and friendly tool to educate the next generation.

• Quote: “Bitcoin’s future depends on capturing 8-second attention spans.”

• Description: Branta offers payment verification for various bitcoin and lightning technologies.

• Origin Story: Read the Bitcoin Standard and never looked back.

• Quote: “Bitcoin’s final settlement needs good security.”

• Description: Inherit is a self-custodial Bitcoin recovery solution, enabling users to time-lock their BTC to guard against wrench attacks and quantum threats, with an optional dead man's switch for recovery in case of key loss or unexpected life events.

• Mission: Empower more people to self-custody Bitcoin by making it safer.

• Origin Story: I befriended an elderly man seeking a self-custodial way to pass on his Bitcoin without changing his wallet setup, inspired by John McAfee's "dead man switch" concept.

• Quote: “Your keys shouldn’t die with you.”

• Description: A gamified platform for AI agents to be created by non technical users.

• Mission: Make Bitcoin interactions fun, playful, and accessible.

• Origin Story: As a new mom, I rely on voice assistants like Alexa a lot, but they constantly frustrate me. I find myself repeating commands, dealing with irrelevant ads, and realizing Alexa is designed to serve Amazon—not me. It doesn’t learn, adapt, or truly assist in a meaningful way. This frustration led me to create Cozy during my student innovation project at the University of Advancing Technology—a personalized, intelligent assistant built on open protocols like Bitcoin, Lightning, and Nostr to prioritize the user, not a corporation.

• Quote: “Delight as a gateway to financial sovereignty.”

• Description: Shopstr is a global, decentralized Nostr marketplace for Bitcoin commerce.

• Mission: Permissionless, KYC-free marketplace on Nostr.

• Origin Story: Having attended the alma mater of Ross Ulbricht (founder of Silk Road), Cristian drew inspiration to create a market for p2p trade, but on the right foundation with Nostr. As time worked on the project has progressed, the potential and conviction with regards to the project has only grown. The mission is to allow anyone to be able to trade globally and permissionlessly directly with Bitcoin and to make Bitcoin earn-ramps more accessible.

• Quote: “Free markets shouldn’t require permission.”

• Description: BitcoinOnly Events is a platform dedicated to organizing, promoting, and supporting Bitcoin-focused meetups, conferences, and community events worldwide.

• Mission: To help HODLers, professionals, and newcomers stay informed, connected, and engaged with the events that matter most.

• Origin Story: Andrew founded BitcoinOnly Events after years of attending grassroots Bitcoin meetups, where he saw firsthand how fragmented event organization had become. Frustrated by reliance on centralized platforms like Eventbrite, he envisioned a decentralized alternative that aligned with Bitcoin’s ethos. Inspired by the Lightning Network’s scalability and community-driven growth, he built a tool to empower organizers, amplify Bitcoin-only principles, and foster local adoption through education-first gatherings.

• Quote: “Bitcoin’s community thrives when it gathers.”

New Features on Lightning Bounties: Anonymous Rewards & Adding Rewards Without Login

This week, Lightning Bounties introduced two powerful features to enhance user participation. Anonymous Rewards allows logged-in users to contribute sats to bounties privately, ensuring their identity remains hidden while still supporting open-source development. Add Without Login enables anyone to add sats to bounties without creating an account, making it easier for non-developers or those without GitHub accounts to get involved.

Explore these features in detail below and see how they’re shaping the future of collaboration on Lightning Bounties.

Anonymous Rewards

The Anonymous Rewards feature enables logged-in users on Lightning Bounties to add sats to bounties without revealing their identity. This is ideal for contributors who value privacy but still want to incentivize progress on open issues. With Anonymous Rewards, users can fund bounties discreetly while maintaining full control over their contributions.

This feature encourages participation from individuals and organizations that prefer to stay private while supporting the Bitcoin and Lightning ecosystem. It’s another step toward decentralizing collaboration and ensuring that anyone can contribute, regardless of their need for anonymity.

Add Without Login

The Add Without Login feature allows anyone to contribute sats to existing bounties on the Lightning Bounties platform without needing to create an account or log in. This is perfect for users who want to support developers but don’t have a GitHub account or prefer not to login. By removing this barrier, more people can participate in funding open-source development, helping bounties grow faster and attracting more contributors.

To ensure security, this feature leverages Branta’s address verification, protecting both the platform and bounty hunters while maintaining trustworthiness. Add Without Login expands accessibility, making it easier than ever for anyone to back projects they care about.

Wrapping Up Week 6:

Week 6 wasn’t just about coding or compliance—it was about building with intention. Moritz’s insights on balancing user needs, Jim’s legal firewalls, and Phil’s PR pragmatism gave us tools to navigate Bitcoin’s chaos. With new features empowering contributors and a community stacking sats (and principles) together, Lightning Bounties is proof that collaboration outpaces competition. Onward to Week 7!

PlebLab's Week 2 Recap: Lightning Bounties

In this weeks edition, we’ll explore the key milestones and achievements from the second week of Pleb Lab's Top Builder competition. For week 2, Lightning Bounties focused on expanding our business development efforts, documenting our journey, and implementing our Time Lock and Bounty Expiry feature onto our production app. Join us as we dive into an eventful Week 2 of Top Builder and explore what these developments mean for Lightning Bounties!

Time Lock and Expiry Feature Now Live on Lightning Bounties!

Key Features:

• Time Lock: Each bounty's reward is held in escrow for a set period (typically two weeks), guaranteeing the reward for valid submissions within this timeframe.

• Expiry Option: After the lock period, bounty posters can expire unclaimed bounties if priorities change or issues are resolved internally.

Why It Matters: This feature makes bounty hunting less risky for contributors while giving project teams more control over their resources. It ensures that funds are firmly allocated for a specific period, encouraging participation, and then allows for adaptability as project needs evolve.

GitHub Integration Improvements

• We encountered and swiftly addressed a schema change in GitHub's API.

• This led to improved health checks and more reliable integration with GitHub.

• A key improvement: GitHub now guarantees that merging a PR will close associated issues, enhancing our workflow reliability.

What's Next: Dev Milestone 2 Planning

Key Focus Areas

• Non-logged-in crowdfunding has been identified as a top priority to drive business development traction.

• We've reshuffled some items:

  • Lightning Network withdrawal enhancements moved to v3

  • Some infrastructure and developer experience items from v1 added to v2

Ongoing Tasks

• Implementing time tracking for development periods

• Collaborating with @BrantaOps for expiry feature testing

We're excited about these developments and the direction we're heading. Stay tuned for more updates as we continue to build and improve Lightning Bounties!

Documenting Our Journey: Week 1 Recap & Diving Into Branta

Analytics Dashboard for Lightning Bounties

Thanks to Enrique's efforts, the Biz Dev team has developed an internal dashboard to visualize key metrics for our bug bounty platform. This dashboard tracks essential data, including the percentage of open versus solved bounties, average and total sats per bounty, the number of developers, unique repositories, and Twitter follower growth. These insights will enhance our understanding of user engagement and help us refine our strategies. In the coming weeks, we will actively monitor these metrics and make necessary adjustments to ensure our platform remains attractive to both bounty issuers and hunters.

Below are some screenshots of our Dashboard in action:

Documentation Bounties Are Live—Contribute with Ease!

YoPaki Mentorship Session

The YoPaki Mentorship workshop, led by Francisco, whom we met at the 2024 PlebLab Startup Day in Mexico City, provided valuable advice for developers and entrepreneurs looking to build on Bitcoin & Lightning. Francisco anticipates a significant influx of developers entering this space within the next 12-18 months, highlighting the growing importance of Lightning Network applications. The workshop emphasized the challenges of getting apps approved on Apple and Android app stores, particularly for those dealing with Bitcoin payments. Key advice included being prepared for initial rejections, appealing decisions after multiple rejections, and carefully framing the app's functionality to avoid raising red flags with app store reviewers.

The session also touched on the complexities of navigating Geo-IP restrictions and jurisdictional rules, emphasizing the need for patience and collaboration with other Bitcoin companies to overcome these hurdles. Francisco encouraged Top Builder teams to collaborate with each other and stressed the importance of discerning good advice from bad when receiving feedback. For those seeking funding, the workshop highlighted that VCs often look for founders with a track record of successful fundraising and teams capable of delivering on their roadmaps. Setting realistic goals and maintaining momentum throughout the development process were identified as crucial factors for success in the Lightning Network ecosystem.

To learn more about YoPaki, click the images below to view their presentation and elevator pitch at PlebLab’s 2024 startup day. Also, stay tuned for their Android app store release coming soon and if you have an iPhone check out YoPaki's website to download the app and start stacking sats!

PlebLab Early Days Interview with Lightning Bounties

Our interview with Car on PlebTV's Early Days Podcast was a highlight of the week. It was a great opportunity to reflect on how Lightning Bounties came to life and share our journey so far. Car asked insightful questions about our decision to build on the Lightning Network, how we’ve tackled challenges like managing development alongside operations, and the lessons we’ve learned along the way.

We also discussed how using Lightning Bounties for our own development has helped us refine the platform while staying connected to the needs of both developers and organizations. The conversation touched on fun topics like AI in coding and the future of decentralized technologies, making it both thought-provoking and fun.

It was a blast being featured on the podcast, and we’re looking forward to tuning into other Top Builder teams’ stories in upcoming episodes!

Bitcoin Design UX & UI Workshop with Sam Brewton

Sam Brewton’s recent workshop on Bitcoin interface and experience design was both insightful and inspiring. His focus on creating designs that support mass adoption resonated deeply with our team as we work to make Lightning Bounties accessible to a broad range of diverse users.

Sam highlighted three key principles that we’re excited to apply. First, he stressed the importance of reducing friction in Bitcoin transactions by carefully designing every step of the user journey. Small details, like animations providing feedback during transactions, can go a long way in building user confidence. Second, he underscored the value of accessibility by designing for edge cases, such as users with disabilities, which ultimately improves usability for everyone. Lastly, Sam emphasized real-world testing with actual users to uncover issues that might not surface otherwise—a hands-on approach we plan to incorporate into our development process.

This workshop gave us actionable insights as we continue building a platform that welcomes new developers and drives Bitcoin adoption. Simplicity, accessibility, and user-focused testing will remain at the core of our design philosophy moving forward.

Wrapping Up Week 2

As we wrap up our Week 2 recap, we’re pleased with the progress made at Lightning Bounties. The deployment of the Time Lock and Expiry feature and improvements to our documentation and analytics have enhanced our platform's functionality. Additionally, insights from the YoPaki Mentorship session and Sam Brewton's presentation on Bitcoin design have provided valuable guidance as we work to improve user experience.

This week tested builders under intense pressure as the Top Builder competition narrowed from 14 teams to just 5, with finalists set to pitch at PlebLab’s Startup Day in Austin. Amidst the high stakes, founders balanced critical workshops on Bitcoin’s most urgent challenges—from Joe Wood (Satoshi Pacioli) demystifying accounting pitfalls to Phil (21M Communications) refining PR strategies for Bitcoin’s no-bullshit ecosystem. For every team, the goal was clear: build products that survive Bitcoin’s volatility and outlast crypto’s noise.

Did Lightning Bounties secure a spot in the final round? We’ll share the results at the end.

Spoiler: Tears were shed. Sats were stacked. Let’s dive in.

Bitcoin Startup Accounting

1. Accounting for Bitcoin: What Actually Matters

• Valuation: Bitcoin’s price swings hit your balance sheet. Unrealized gains/losses now get tracked, so monitor them like a hawk.

• Taxes: Holding Bitcoin? No taxes until you sell/spend it. But every transaction (sending, receiving, swapping) triggers a taxable event. Track sats like your startup depends on it—because it does.

2. Using Bitcoin as Payment

• Price It in USD: When accepting Bitcoin for goods/services, record the USD value at receipt. Volatility isn’t an excuse for lazy bookkeeping.

• Employees Love Sats: Paying team members in Bitcoin boosts morale (if you’re already holding). But warn them: selling = taxable income.

3. Holding Bitcoin: Treasury Strategy

• Risk Check: How much volatility can your startup stomach? If investors panic at -30% dips, maybe don’t put 80% of cash reserves in Bitcoin.

• Investor Optics: Fundraising? Assume VCs will grill your Bitcoin treasury strategy. Prepare answers tighter than a 21M supply cap.

4. International Payments: Bitcoin’s Killer App

• Speed Wins: Pay global contractors in minutes, not days. Traditional banks can’t compete.

• Tools Matter: Use non-custodial processors like Zap to avoid third-party risk.

5. Accounting Tools for Bitcoiners

• Zap: Track payments without handing keys to a custodian.

• Clan Tech: Open-source accounting suite for Bitcoin-only businesses.

• Banking: Mercury/Brex still work, but keep Bitcoin transactions separate.

Biggest Pitfalls

• Tax Surprises: That Lightning payment you sent? Taxable. That refund you received? Taxable. Assume everything’s taxable until proven otherwise.

• Custody Risks: Mixing custodial/non-custodial wallets? Recipe for audit hell. Segregate funds like a cypherpunk monk.

Why This Matters for Builders Bitcoin accounting isn’t about compliance—it’s about survival. Messy books attract regulators. Sloppy tax reporting kills startups. Joe’s takeaway? “Run your Bitcoin business like a Fortune 500 company, but with better money.”

Phil 21M Communications on Early Days Podcast

Phil's Background and the Birth of 21M Communications

Phil's journey into the Bitcoin realm began with a solid foundation in media, having worked across various platforms, including print, digital, and podcasts. His experiences in traditional PR agencies led him to recognize a gap in the market for Bitcoin-focused PR services.

• Key Motivations for Founding 21M Communications:

  • Focus on Bitcoin: Phil's disillusionment with the broader crypto space, particularly the prevalence of "shitcoins," drove him to concentrate solely on Bitcoin.

  • Community-Centric Approach: He aimed to create a PR agency "for Bitcoiners, by Bitcoiners," ensuring a deep understanding of the Bitcoin ethos.

  • Long-Term Vision: Phil emphasized the importance of aligning with companies that have a long-term vision, contrasting them with the high time preference often seen in the crypto space.

The Unique Nature of Bitcoin PR

Phil articulated the distinctiveness of PR in the Bitcoin ecosystem compared to the broader crypto market.

• High vs. Low Time Preference:

  • High Time Preference in Crypto: Many crypto companies focus on short-term gains, leading to a volatile and often unethical environment.

  • Low Time Preference in Bitcoin: Bitcoin companies tend to prioritize long-term goals, fostering a more stable and ethical business environment.

• PR Strategies for Bitcoin Companies:

  • Authentic Storytelling: Phil highlighted the importance of crafting narratives that resonate with both the media and the Bitcoin community.

  • Understanding the Audience: He stressed the need for PR professionals to grasp the intricacies of Bitcoin to effectively communicate its value.

Marketing Insights for Bitcoin Startups

Phil shared his thoughts on the marketing landscape within the Bitcoin ecosystem, emphasizing the need for a strategic approach.

• Seth Godin's Philosophy: Phil referenced Godin's quote, "Marketing is no longer about the stuff you make; it's about the stories you tell," underscoring the importance of narrative in marketing.

• Technical vs. Accessible Communication: He noted that while Bitcoin products may be technically complex, the messaging should be simplified for broader understanding.

Practical Advice for Early-Stage Founders

Phil provided practical advice for founders looking to establish their presence in the Bitcoin space.

1. Create a Document for Announcements:

   • Maintain a running list of potential announcements, product updates, and partnerships to keep the media informed.

2. Engage in Media Activity:

   • Social Listening: Monitor conversations in the Bitcoin space to identify trends and opportunities for engagement.

   • Trend Jacking: Leverage existing conversations to insert your brand into relevant discussions.

3. Content Creation:

   • Opinion Editorials: Write op-eds to establish thought leadership and address pressing issues within the Bitcoin ecosystem.

   • Utilize Newsletters: Engage with industry newsletters to share insights and gain visibility.

The Role of Influencers in Bitcoin Marketing

Phil discussed the evolving landscape of influencer marketing within the Bitcoin community.

• Authenticity Matters: Phil emphasized that consumers are increasingly interested in the people behind the brands, making it essential for founders to be authentic and relatable.

• Building Trust: By positioning themselves as thought leaders, founders can foster trust and credibility within the community.

Conclusion

Phil's insights into Bitcoin PR and marketing reveal a landscape that is both challenging and ripe with opportunity. His emphasis on authenticity, long-term vision, and community engagement provides a roadmap for Bitcoin startups looking to navigate the complexities of the media landscape. As the Bitcoin ecosystem continues to evolve, the strategies outlined by Phil will be crucial for founders aiming to make a meaningful impact.

Key takeaways from Phil:

• Focus on Bitcoin: Prioritize long-term goals and ethical practices.

• Craft Authentic Narratives: Engage with the media through compelling storytelling.

• Leverage Community: Build relationships within the Bitcoin ecosystem to enhance visibility and credibility.

By following these principles, Bitcoin startups can effectively position themselves for success in a competitive and rapidly evolving environment.

Top Builder Final 5 Teams Announced

This season’s competition was fierce. With 243 applications reviewed, 35 projects submitted, and 17 teams onboarded, the talent pool was staggering.

To every builder who participated: your work inspired us. It really did. The creativity and grit we saw over these six weeks pushed boundaries and reminded us of the incredible potential within our community. Some of the projects I'm personally excited about include:

and the list goes on.

These projects prove that Bitcoin’s ecosystem is stronger than ever. To those not advancing: keep building. This space needs you!

Pleb Lab’s stats say it all: 65+ Bitcoin projects launched since 2022, 280+ workshops held, and a community of 640+ learners. This isn’t just a competition—it’s a movement.

We’ve got two weeks to refine our pitch for Austin. No victory laps. Just gratitude for the push from peers, mentors, and the other founders in this trenches with us. Let’s show why Bitcoin collaboration matters!

To Austin, with purpose.

“Iron sharpens iron. Keep building.” — Car PlebLab CEO