What Bitcoin Did

Brandon Black, Bitcoin software engineer who implemented Taproot multi-sig and MuSig2, discusses quantum computing and Bitcoin security. He explains what quantum computers actually do. He questions exaggerated qubit scaling claims. He outlines which Bitcoin key types would be most exposed and how post-quantum upgrades and soft-fork paths might work.

Caitlin Long, founder and CEO of Custodia Bank and former Wall Street veteran turned Bitcoin advocate. She discusses gold’s recent repricing and why that matters for markets. She explores how ETFs and derivatives mute price signals and why tokenized deposits and stablecoins reshape dollar demand. She also covers shifts in Fed and Treasury power and the race to bridge TradFi with crypto.

Amiti Uttarwar, Bitcoin protocol developer and founder of Waye, who improved Bitcoin Core and builds support for long‑term open source contributors. She discusses limits of permissionless work and the hidden burdens on independent contributors. Conversation covers funding and sustainability tradeoffs, why social and human layers now matter as much as technical ones, and Way’s coaching and support model.

Lawrence Lepard, an investment manager and author of The Big Print, discusses the Federal Reserve's anticipated pivot back to money printing amid structurally embedded inflation. He argues that both gold and Bitcoin are crucial responses to monetary decay, predicting Bitcoin's dramatic rise as debasement accelerates. The conversation dives into yield curve control, the shifting dynamics of national reserves, and the intricate relationship between physical demand and the paper markets. Lepard warns of political pressures on the Fed and the implications for individual custody of assets.

Cory Klippsten, a Bitcoin-focused entrepreneur and founder of Swan, sheds light on the evolving crypto landscape. He discusses the structural shifts in Bitcoin adoption and how offshore exchanges are often linked to money laundering. Cory critiques the outdated four-year market cycle narrative and highlights the critical role U.S. tariffs have played in Bitcoin's pricing. He explains the need for self-custody protections and contrasts genuine treasury firms like MicroStrategy with those lacking competitive edges. With sleek insights, he frames Bitcoin as an emerging macro asset.

Mark Moss, a savvy entrepreneur and Bitcoin investor, dives deep into the transformative power of Bitcoin. He argues that it's not just an investment but a cheat code that reveals the flaws in our financial systems. Mark emphasizes how traditional saving falls short against inflation and advocates building wealth through assets and leverage. He explores treasury strategies, risk management, and how individuals can create a Bitcoin treasury while responsibly navigating liquidity. His insights challenge the hustle culture, promoting a system-focused approach to lasting wealth generation.

Michael Saylor, the visionary entrepreneur behind MicroStrategy, dives into the mechanics of Bitcoin treasury strategies and corporate adoption. He passionately argues that Bitcoin's real progress lies in institutional acceptance rather than price fluctuations. Saylor defends treasury companies against criticism, emphasizing their role in financial resilience. He shares his insights on transforming weak company performance through Bitcoin and envisions a future where digital credit redefines finance, urging support for adopters in a community often critical of its own.

Peter McCormack, a political commentator and podcaster, dives into the broken state of the UK government. He discusses how debt and inflation are hollowing out public services and destroying the middle class. Peter highlights the inability of both political sides to fix systemic issues and critiques the impact of asset inflation on society. He also explains his 'I No Longer Consent' movement, advocating for constitutional constraints on government power and emphasizing a vision for smaller government and enhanced liberty.

Simon Dixon, a monetary reform advocate and early Bitcoin investor, dives deep into the intricacies of banking and power dynamics. He argues that modern capitalism is a trap, with fractional-reserve banking as a Ponzi scheme. They explore Bitcoin's resilience while acknowledging ongoing threats from corporate centralization and Wall Street. Simon highlights the importance of self-custody in protecting Bitcoin's integrity. He also connects the dots between geopolitics, financial interests, and historical banking structures, offering practical resistance strategies for individuals.

American HODL, a Bitcoin commentator dedicated to long-term adoption, and Matt Odell, a Bitcoin developer and researcher, dissect a tumultuous year for Bitcoin. They explore why super cycle expectations fell flat and the shifting dynamics of institutional investment versus retail absence. The duo highlights how market distortions, driven by influencers and leverage, impacted true adoption. They delve into Bitcoin's performance against gold, the implications of quantum risk, and the complex relationship between governance and the crypto space.