NEW EPISODE - Rebuilding the $12T Repo Market on @Bitcoin Bitcoin’s next era may be digital credit. David Seroy aka Bitcoin Dave joins @TrustlessState to explain how BitVM, ZK rollups, and fixed-duration lending could turn Bitcoin into the foundation of a new onchain credit market. They break down the race to create pristine collateral, why @Morpho Midnight matters, how @AlpenLabs plans to compete with @base and Michael @saylor's corporate model, and why most Bitcoin L2s have failed. --- TIMESTAMPS 0:00 Hyperbitcoinization 3:51 Bitcoin’s Next Phase 9:57 The Talent Crisis 11:29 BitVM and ZK 16:26 Bitcoin L2s 19:06 Bitcoin Credit 28:28 Onchain Repo 34:09 The Yield Curve 38:21 Borrowing and Risk 43:24 Why L2s Failed 48:29 Saylor vs Onchain 54:51 Alpen and Strata 56:36 Ethereum’s Purpose