BITCOIN SEASON 2: How To Beat Coinbase On-chain w/ Flashnet’s Ethan Marcus

Flashnet CEO Ethan Marcus breaks down Bitcoin’s on‑chain trading, fee wars, stablecoin hurdles, and why Spark aims to outpace Lightning—all in under 35 minutes. Flashnet CEO Ethan Marcus joins us to discuss Bitcoin’s scaling landscape, on‑chain spot markets, the challenges of stablecoins, and how Spark’s signing protocol offers a fast, cheap alternative to Lightning. He also shares candid lessons from a $300 k load test and his vision for Bitcoin‑native finance. Subscribe to the newsletter! https://newsletter.blockspacemedia.com Notes: Coinbase charges ~70 bps per trade. Spark handled $300 k in 9 min during beta. Bitcoin spot volume ≈ $20‑30 trillion yr. Lightning’s fee‑free stablecoin rollout deemed “disaster”. Spark’s operator model uses threshold signatures. Braille’s USD‑BTC stablecoin launches on Spark. Timestamps: 00:00 Start 01:52 Is Flashnet crypto or fintech? 02:23 What is Spark? 03:25 Role of the Operator 05:06 Like a State Chain but different 06:50 Spark idea origins 08:54 Flashnet 11:08 Why not build on Lightning? 12:16 Hyperliquid 15:00 How does Spark fit into BTC scaling? 16:30 Why use a DEX? 18:38 Evolution of on-chain exchanges 20:35 Braille & stablecoins 21:58 RGB & other protocols 24:15 Park launch troubles 26:16 Degens lend a helping hand 28:08 Corporate chains 30:21 Single sequencer = server 32:09 Zero Day 33:08 Innovations in BTC - 👋Bitcoin Season 2 is produced Blockspace Media, Bitcoin’s first B2B publication in Bitcoin. Follow us on Twitter and check out our newsletter for the best information in Bitcoin mining, Ordinals and tech! Enjoy the show? Check out our website and newsletter by clicking here. Questions or want to sponsor? hello@blockspace.media