Why Bitcoin solves permissioned banking

In this Confab, Max sits down with Vik Sharɱa, founder and CEO of Cake Wallet, for a candid journey from his early hacking days on the Apple II, through decades in the steel industry, to discovering Bitcoin in 2013 and Monero in 2016. 

Vik shares the eye‑opening moment Coinbase shut his account for a small darknet market purchase of antibiotics—an incident that catalysed his deep dive into privacy and ultimately inspired Cake Wallet’s creation. Max and Vik explore why privacy should be a default, how Monero’s out‑of‑the‑box protections compare with Bitcoin’s more complex privacy tooling, and why a multi‑coin world empowers users rather than divides them. Max and Vik also dig into the rapid rise of AI: how it’s reshaping software development, enabling non‑coders to build real tools, and what it might mean for self‑custody and user experience in the months ahead.

Vik reflects on the growing global demand for financial privacy and access—especially via stablecoins as on‑ramps—while emphasising real‑world utility as the backbone of value. He recounts Cake’s experimental culture (silent payments, PayJoin v2, Lightning via Spark) and the team’s willingness to learn in public. Max and Vik wrap on why decentralised money and local/secure AI can help people everywhere earn, spend, and build without permission, and why he’s more optimistic today than he was a few years ago about privacy tech gaining mainstream traction.

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FOUNDATION

https://foundation.xyz/ungovernable

Foundation builds Bitcoin-centric tools that empower you to reclaim your digital sovereignty.

As a sovereign computing company, Foundation is the antithesis of today’s tech conglomerates. Returning to cypherpunk principles, they build open source technology that “can’t be evil”.

Thank you Foundation Devices for sponsoring the show!

Use code: Ungovernable for $10 off of your purchase

CAKE WALLET

https://cakewallet.com

Cake Wallet is an open-source, non-custodial wallet available on Android, iOS, macOS, and Linux.

Features:
- Built-in Exchange: Swap easily between Bitcoin and Monero.
- User-Friendly: Simple interface for all users.

Monero Users:
- Batch Transactions: Send multiple payments at once.
- Faster Syncing: Optimized syncing via specified restore heights
- Proxy Support: Enhance privacy with proxy node options.

Bitcoin Users:
- Coin Control: Manage your transactions effectively.
- Silent Payments: Static bitcoin addresses
- Batch Transactions: Streamline your payment process.

Thank you Cake Wallet for sponsoring the show!

MYNYMBOX

https://mynymbox.io

Your go-to for anonymous server hosting solutions, featuring: virtual private & dedicated servers, domain registration and DNS parking. We don't require any of your personal information, and you can purchase using Bitcoin, Lightning, Monero and many other cryptos.

Explore benefits such as No KYC, complete privacy & security, and human support.

(00:00) INTRO

(01:11) BOOSTS

(03:42) THANK YOU FOUNDATION

(04:40) THANK YOU CAKE WALLET

(05:53) Welcome Vik!

(07:11) Before Crypto: Steel, Engineering & Early Tech

(14:36) The Bitcoin Rabbit Hole

(23:05) Building Cake Wallet

(27:07) Privacy, Tribalism & the Maxi Mentality

(42:14) Where It's All Going

(49:25) THANK YOU MYNYMBOX