PBJ

0:00 - The COLDCARD hack: bitcoin’s worst security incident ever?

4:30 - What happened and how thefts were identified

7:04 - The random-number failure behind the hack

13:24 - The right way to generate wallet entropy (i.e., dice rolls)

20:45 - Who is affected and what users should do

31:43 - Custody options and why diversification matters

37:37 - The source-license change behind the COLDCARD bug

40:33 - How AI changes open-source security audits

52:30 - How the community can limit further theft

59:56 - Why patches cannot fix keys and recovering stolen bitcoin

1:10:37 - Does AI strengthen the case for custodians?

1:16:30 - Future of self-custody

1:21:43 - Evaluating Bitkey, Ledger, Trezor and multisig post-COLDCARD

1:31:04 - ETFs, custodians and new transparency standards

SHOW NOTES:

PBJ custody survey episode: https://www.youtube.com/watch?v=OSanv5Z-DA4

Block COLDCARD blog post: https://engineering.block.xyz/blog/predictable-rng-fallback-and-32-bit-reseed-in-coldcard-firmware

0:00 - Opening banter, Nostr momentum & voice-first computing

7:21 - Presidio Bitcoin’s visiting member program

10:30 - Bitcoin Security Consortium: quantum preparedness, tradeoffs & independent funding

26:07 - Buzz launches to strong early adoption

35:53 - Buzz’s Nostr architecture and user-owned identity

48:28 - Can Anthropic or OpenAI copy Buzz?

53:24 - Buzz onboarding, local agents & security tradeoffs

1:03:37 - Learning through shared agents and 15-minute hackathons

1:07:54 - Mesh LLM and bitcoin-powered agent onboarding

1:18:52 - Wavelength and the growing Ark ecosystem

1:27:08 - Foundry’s BIP 110 vote and Stratum V2

1:37:20 - Nostr web of trust for humans and agents

1:41:10 - DK's treasure hunt progress and AI-assisted mysteries

0:00 Making music with AI and the limits of today’s models

3:21 - Latent spaces & the future of creativity

8:04 - Will AI surpass human curiosity?

12:54 - Using AI to rediscover the ancient past

18:23 - How AI is transforming real-world treasure hunting

33:09 - Using Buzz and agents to solve unsolved mysteries

42:32 - Project Loupe’s early success and who should it scan next?

48:07 - Which projects deserve Loupe's audits?

1:08:20 - What Stripe could gain by acquiring PayPal

1:09:56 - Bitcoin’s worsening performance against gold

1:15:51 - Kimi K3, the open-weight AI race, and what it means for frontier AI labs

0:00 - World Cup fallout and opening banter

5:23 - Goose Development Kit (GDK) week at Presidio Bitcoin

9:29 - Why Spiral is expanding into AI & how it helps bitcoin

19:01 - GDK’s near-term roadmap and Mesh LLM

25:52 - Combining open and frontier AI models

33:20 - Preventing data leaks between AI models

38:02 - Anthropic's possible window into how AI models think

42:24 - How Goose connects apps, agents, and models

47:36 - Subscription pricing versus open agent ecosystems

54:37 - Can bitcoin support a global naming system? (the data-availability challenge)

1:03:10 - Who decides which bitcoin name is valid?

1:11:48 - Merkle batching and the hidden-name problem

1:21:00 - Can auctions work if the data stays hidden?

1:29:00 - Applying bitcoin’s peer-to-peer model to names

1:32:53 - Should bitcoin names use its own blockchain?

SHOW NOTES:

Goose: https://goose-docs.ai/

Spiral: https://spiral.xyz/

Spiral x AI announcement substack: https://spiralxyz.substack.com/p/spiral-x-goose-the-best-is-yet-to

Presidio Bitcoin GDK event recording: https://www.youtube.com/watch?v=m7NGzb8m0nk

0:00 Summer camp. Teaching DK what the World Cup is. Steve visits the PBJ Remote studio.

13:52 What is Goose & the alpha of what's to come with open source AI

20:40 The kinds of things Goose Development Kit enables

33:10 Come and meet the Goose team at PB next Wednesday!

39:26 DK's experience using Buzz as a great example of the ACP standard and using Nostr

54:22 Steve's take on how Buzz changes open source software development

1:04:46 Max's Claude pilling moment, and it becoming more paternalistic over time

1:10:05 Compute constraints causing strange market dynamics

1:13:03 OUSD Stablecoin and its effects on Circle, Tether, and the broader market

1:27:58 Quick comment on Strategy, MSTR & STRC, and its long-term outlook

SHOW NOTES

Join us on Jamchat.fun

0:00 World Cup chatter, DK searching for sports on Google, Good times on Jamchat.Fun

6:05 Recap of the Local AI Builder last night here at Presidio Bitcoin. Tom's local AI setup and how he's using it.

15:05 A watershed moment when Fable received export control from the US government

20:12 Is this like the Satoshi moment for banking in 2008 for AI in 2026?

28:23 Presidio Bitcoin's Open Source AI Summit this September!

36:25 Do you still have a business if everything is built on an AI platform? What's the moat?

40:25 Takes on SpaceX as an AI company post-Cursor buy. Launch is still unique.

47:12 Elon says regulation is the hurdle to getting more solar on Earth, which is why he's going to space

50:56 Bitcoin Forks, working on Bitcoin Core, and how updates happen

1:06:22 What is the timeline for these activities?

1:12:20 Touching on Drive Chain, Quantum, BIP 110, & BIP 361

1:18:42 What is the Paul Sztorc eCash hard fork? First one in 9 years?

1:23:53 Illinois signed into law a transfer tax for digital asset moves like Bitcoin

1:28:15 US Sovereign Wealth Fund buying, or taking, AI company equity as they did with Intel?

SHOW NOTES:

https://opensourceaisummit.org/

https://tomtunguz.com/

0:00 We keep getting requests to talk about basketball. What about the World Cup?

7:40 The future of livestreaming is https://jamchat.fun/

15:30 Unveiling Buzz, an open source project, for AI native communications built on Nostr

25:26 Bitcoin is open source money, Nostr is open source identity

31:13 To summarize, Buzz brings together agents to collaborate; multiplayer & multiagent workflows

36:11 Extending Buzz functionality with a Lexe wallet integration for bitcoin payments

40:30 What is the future of the corporate structure with autonomous agents and AI personhood?

53:29 Anthropic's Fable 5 drama, what is going on?

1:00:25 What is the best approach for AI deployment?

1:07:34 We're most excited about really good open models & layers coming to the market

1:09:52 Bark launches on mainnet as a bitcoin layer 2, and comparing it to Lightning

1:21:44 Will interoperable decentralized money matter more to agents than humans?

1:26:55 Feedback from last show, Surge uses USDC on Base, and what is the Ethereum vs. Base value proposition?

SHOW NOTES:

Max's Article on Nostr Identity

https://www.hivemind.vc/identity

00:00 Welcome back (we missed a week)

00:56 The Cash App Wand: tap-to-pay NFC device that sold out in 10 hours

09:07 Surge: a self-custody, no-KYC bitcoin-backed credit line

16:07 The Taproot design and how Surge uses it

21:28 How Surge tackles the oracle & liquidation problem

28:08 Base/Ethereum dependence, MPC & the signer network (Surge's lender side)

37:34 Borrowing against your bitcoin to buy AI stocks instead of selling

38:41 Cash App's USDC integration

51:14 Living design docs, AI-native shows & project constitutions

54:24 Is AI sucking liquidity out of bitcoin?

1:00:00 The IPO wave and the AI bubble debate

1:06:00 The Zcash crash: Opus uncovers an inflation bug

1:07:55 Privacy vs. auditable supply, and why this can't happen to bitcoin

1:11:19 Turnstiles & Orchard: can Zcash actually recover?

1:14:22 AI vs. software security & Spiral's Project Loupe

1:23:40 Cloudflare: AI agents overtake humans in web requests

1:27:32 Wrap-up & teasers (Spiral's AI work, NVIDIA, Sprout)

0:00 Getting off Twitter, losing passwords, and staying up to date with Stackernews

4:30 Why we find the Strategy conversation interesting, and we will still cover basketball

7:11 Can MSTR blow up? Unpacking the claim that Saylor is a new SBF

13:34 What are the outcomes and probabilities of Bitcoin and MSTR's future

21:00 How much does bitcoin need to grow to support MSTR's credit products?

25:00 Is the biggest risk Coinbase and its custodians or esoteric DeFi demand?

32:15 What's the investment thesis of holding MSTR vs STRC?

41:40 Finding new products from the synthesis of old concepts

45:41 Using Proof of Work for hot tubs creates a security issue?

55:55 Bigger picture and putting into context the security budget for bitcoin

1:05:27 Is this a design flaw of bitcoin?

1:11:40 Underlying issue is we don't know what the annual security budget should be.

1:21:00 What are the attack vectors to Bitcoin from a non-economic actor, like a nation-state?

SHOW NOTES:

Transaction Fee Paper (Budish, 2024)

https://socialsciences.uchicago.edu/sites/default/files/2024-09/Economic%20Limits%20Crypto%20Blockchains%20-%20QJE%20Sept%202024.pdf

0:00 Streaming in any language you want via https://babelagent.xyz/

10:09 It used to be that if you left your job to study bitcoin. Now it's study vibecoding.

11:50 PBJ Podcast worth a MILLION dollars?

16:44 Okay, let's talk about bitcoin

17:24 Unpacking Bitcoin Core v31

21:12 Steve's top three highlights from Core v31. Feature 1: Embedded ASMAP

30:14 DK's security concerns and Anthropic Mythos model

31:16 Getting to Max's questions and other initiatives around node security

39:27 Feature 2: private transactions

47:47 Feature 3: cluster mempool & discussing block rewards vs fee.

58:22 Okay, what is cluster mempool, how it works, and why this could matter

1:01:56 Closing out the Bitcoin Core conversation and why it's important

1:03:22 Project Loupe, AI security scanning, to discover vulnerabilities in projects

1:13:26 This is important as bitcoin is the biggest honeypot for AI to hack

1:20:31 Another big release! Updates to LDK Server to ease building and operating an LSP

1:29:45 Steve's hot takes on the Lightning Network

SNOW NOTES

https://babelagent.xyz/

https://bnoc.xyz/