PBJ

0:00 DK gets his band back together, Max shares old hip-hop remixes on Nostr, making music with AI

4:45 The experience of paying with bitcoin on CashApp has changed hearts and minds

12:41 Steve's old tipping idea resurfaces and passes something called the "toothbrush test"

16:30 Selling bitcoin? Saylor is exploring. What's the path for treasury companies?

25:02 Is STRC issuance tapped out?

35:32 What questions remain for STRC's future?

44:50 Are Central Banks a source of permanent demand, or is MSTR the next Terra Luna?

50:04 Okay, back to never selling bitcoin?

52:06 Hydration, electrolytes, staying healthy

55:46 Taking back control from DNS and owning your naming rights

1:06:48 The principles to unlock a solution for a single namespace & how bitcoin can help.

1:13:51 Unpacking DK's potential solution!

1:31:15 Block earnings were huge this quarter. Their transformation is bearing fruit.

1:39:45 Anthropic partners with xAI. Are the claims that Anthropic will be more valuable than Google in 18 months credible?

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0:00 May Day, hitting the road for College Basketball, and WE'RE BACK on schedule

2:20 Let's start with Vegas and Block's new Bitkey. Can it help against wrench attacks?

13:44 Tap to pay & NFC payments on Square to trigger a CashApp bitcoin transaction

16:14 CashApp now offering 5% bitcoin back and enabling P2P Payments over bitcoin

18:16 River pioneered proof-of-reserves and liabilities; Block just followed suit

26:40 A new product from a traditional SF fintech, Aven, launched bitcoin-backed liquidity and cards. Similar to Surge, who's building at PB using a signer network and MPC.

29:50 Revisiting strategies and approaches to Bitcoin-based loans and liquidity

38:02 Strike being explored by Tether & XXI? What's the strategy here?

46:01 Saylor explaining STRC Stretch at Vegas. Steve's reveal next week!

47:53 Latest Hackathon at PB last weekend with Hack Nation AI. Over 5,000 applicants!

1:04:04 DK's favorite ₿uilder Event last week! Mesh LLM and Goose Perception

1:13:03 The age of caring about machine specs and capabilities is BACK!

1:14:59 Takeaways from AI conversations in SF: everyone switching to Open Source for economics & privacy

1:20:13 Frontier models taking over the world, being shut down by governments, or leaving for open source?

1:26:05 Max puts Steve on the spot: X Money using CashTags?

1:29:02 SF is so BACK!

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SHOW NOTES:

https://bitkey.world/

https://surge.build/

https://hack-nation.ai/

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SUBSCRIBE:

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0:00 Schedule changes and personal updates

1:50 Hack-Nation AI Global Hackathon @ PB and Spiral’s bitcoin payments challenge

5:40 Lowering the barrier & reducing friction for builders new to bitcoin

8:55 Student outreach and Presidio Bitcoin as a bridge into bitcoin

11:25 Iran, Strait of Hormuz tolls, and bitcoin’s geopolitical use case

17:46 Settlement, unit of account, and bitcoin between adversaries

24:35 Bitcoin as neutral protocol and the analogy to internet rails

26:45 Anthropic and whether the sovereign individual thesis survives AI concentration/centralization

38:55 Corporate dependence on frontier models and the risk of model lock-in

55:54 The future of scarcity, defensibility, and startups as AI power concentrates

1:06:46 Presidio Bitcoin’s Quantum Readiness Report overview & what makes it special

1:15:48 Quantum response scenarios: orderly & emergency migration + break-glass planning

1:25:49 New quantum developments: Google AI, Lalu's recovery proof, QSB, and other interim mitigations

1:34:40 BIP-360, Taproot, and possible upgrade paths under accelerated quantum timelines

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SHOW NOTES:

Presidio Bitcoin's Quantum Readiness Report: https://github.com/presidiobtc/bitcoin-quantum/tree/main

Report v1.0 PDF: https://github.com/presidiobtc/bitcoin-quantum/blob/main/presidio-bitcoin-quantum-readiness-v1-apr-2026.pdf

Hack-Nation Global AI Hackathon: https://hack-nation.ai/

Strait of Hormuz bitcoin toll: https://bitcoinmagazine.com/politics/why-iran-wants-bitcoin-for-safe-passage-though-the-strait-of-hormuz

Google Quantum AI Paper: https://quantumfrontiers.com/2026/04/09/unleashing-the-advantage-of-quantum-ai/

Lalu's Seed Phrase ZKP: https://groups.google.com/g/bitcoindev/c/Q06piCEJhkI?pli=1

Quantum Safe Bitcoin (QSB): https://github.com/avihu28/Quantum-Safe-Bitcoin-Transactions/

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0:00 Opening banter and agenda setting

2:00 Google and Oratomic quantum papers & the “n minus one” framing

6:44 Quantum uncertainty: AI acceleration & s-curves

10:06 Preparedness planning and scenario-based bitcoin responses

11:52 Why government and corporate quantum timelines are misleading

15:12 Post-quantum signature tradeoffs: SHRINCS, SHRIMPS, and state

23:35 Why quantum is a harder problem for bitcoin than other technologies and orgs

30:57 Competing quantum narratives, incentives, and media hype

34:24 The new bitcoin faucet & Block’s teaser campaign

36:30 Square’s default bitcoin payments rollout and adoption friction

43:00 Tipping, UX constraints, and Lightning’s retail payment challenge

52:31 OpenAI’s TBPN acquisition and the strategic value of media distribution

59:50 Open-source AI & Google's Gemma 4 release

1:03:14 Block’s new mesh-llm and peer-to-peer compute

1:07:21 Open agent marketplaces, business models, and demand formation

1:22:40 Block’s corporate structure shift from "hierarchy to intelligence" and the “mini-agi” vision

1:32:55 Scheduling notes - no pod next Friday! Next pod Tuesday, April 14

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SHOW NOTES:

Block's bitcoin faucet: https://btc.day/

Google's quantum paper: https://research.google/blog/safeguarding-cryptocurrency-by-disclosing-quantum-vulnerabilities-responsibly/

Oratomic quantum paper: https://arxiv.org/html/2603.28627v1

SHRIMPS: https://delvingbitcoin.org/t/shrimps-2-5-kb-post-quantum-signatures-across-multiple-stateful-devices/2355

Mesh-llm: https://www.anarchai.org/

Block's corporate structure shift: https://block.xyz/inside/from-hierarchy-to-intelligence

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SUBSCRIBE:

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0:00 Opening banter, Iowa State, and March Madness stakes

07:10 Coinbase’s Bitcoin-backed mortgage model

11:12 Who the Coinbase mortgage product is really for

20:58 Competitive implications for Bitcoin lending and housing finance

27:40 De minimis tax policy and the case for Bitcoin payments

31:27 STRC-backed stablecoins as regional savings products

37:10 Lexe’s launch and trusted-execution Lightning wallets

45:10 SDK design, experimentation, and the search for breakout use cases

52:46 Privacy limits in Base, Spark and stablecoin payments

01:02:20 Hong Kong’s decryption powers and the erosion of financial privacy

01:04:50 Stripe, open-source AI, and shifting infrastructure questions

01:12:52 Spiral’s AI criteria (low-level tools, protocols, and defensibility)

01:16:08 Peer-to-peer training networks and verifiable model provenance

01:20:13 Naming systems for agents and online resources

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SHOW NOTES:

Coinbase Mortgages: https://www.coinbase.com/blog/coinbase-powers-the-first-crypto-backed-conforming-mortgages-by-better

Lexe Launch: https://blog.lexe.app/public-launch/

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SUBSCRIBE:

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0:00 March Madness and opening banter

06:30 Square’s latest Bitcoin payments rollout and the remaining merchant adoption hurdles

16:13 Bitcoin branding problems and the challenge of negative first impressions

21:30 Reframing the Bitcoin merchant pitch around Lightning, fee savings, and cleaner UX

26:00 Branding for Presidio Bitcoin, PBJ, and the tension between mission clarity and broader appeal

28:50 "Crypto" stigma in tech circles and potential counter-narratives for Bitcoin

36:31 Privacy coins, stablecoins, and open-source framing as rival narratives

43:10 Student visits, "yuppie-elite" skepticism, and the university awareness gap

49:03 What would make institutions and students pay more attention to Bitcoin?

56:51 Education, entrepreneurship, and AI-native alternatives to traditional schooling

01:03:40 Spending Bitcoin, monetary transition, and the long-run logic of better money

01:08:20 Tempo's Machine Payments Protocol (MPP) announcement, Lightning interoperability (via Lightspark), and cautious optimism around AI payments

01:12:30 Builder branding, Flint, and whether Bitcoin should lead or recede in the pitch

01:15:26 AI’s impact on FOSS, licensing, transparency, and software value

01:26:58 Spiral’s AI playbook, auditability, and the shift from FOSS to sovereignty

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SHOW NOTES:

Why The Yuppie Elite Dismiss Bitcoin: https://www.citadel21.com/why-the-yuppie-elite-dismiss-bitcoin

Tempo's Machine Payments Protocol: https://stripe.com/blog/machine-payments-protocol

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SUBSCRIBE:

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0:00 Opening banter: Elon chocolate, Dipsea registration, and college basketball

9:55 New York PubKey ₿uilder event and Spiral retreat recap

12:35 Presenting agentic commerce and the case for Bitcoin payments

15:50 Agentic payments: open questions, hype vs reality

18:35 Hype vs reality in current agentic payment adoption

21:38 Consumer commerce as the clearest early use case

23:38 Ads, trust, and why LLM commerce may break the Google model

28:45 Yahoo, Google, and the economics of search monetization

34:56 Subscriptions, open models, and the future AI business model mix

45:00 Open-source AI: where the biggest gaps and opportunities may be

47:35 Linux, cloud infrastructure, and lessons for AI’s open stack

56:40 The open standard: open models, open hardware, and verifiable compute

1:02:32 Bitcoin-native rails for agent coordination, collateral, and payments

1:17:48 Meta, “performance art” agents, and the limits of current social AI

1:20:28 Voice interfaces, agent orchestration, and the future of work

1:35:02 Strategy’s STRC buying spree and Bitcoin-based yield demand

1:40:07 Bitcoin-based stablecoins from Utexo, Ark Labs, and Tether

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SHOW NOTES:

PubKey Podcast with Steve, Haley and Mat: https://www.youtube.com/watch?v=01NLHgBO-dM

STRC Tracker: strc.live

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SUBSCRIBE:

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0:00 Presidio power outage almost cancels show & FSD catch-up

05:45 State of AI coding tools: Claude, Codex, Gemini, and workflow shifts

14:50 Writing, AI-dependence, and finding the right human-AI creative process

17:25 Career advice for students and why AI fluency is now paramount

21:54 PB as a hub for AI hackathon and bridging Bitcoin into broader builder culture

28:48 "Internet of earners" & Bitcoin-native microtask markets

33:17 Bootstrapping agent economies, hackathon design, and Bitcoin onboarding

37:45 Lightning infrastructure, open standards, and the case for broader access

41:07 Autonomous Lightning nodes and permissionless Bitcoin yield infrastructure

59:20 Comparing Claude, Gemini, Codex, and building multi-agent workflows

1:17:07 BPI’s AI monetary preferences study: Bitcoin vs. stablecoins

1:33:05 L402 directories and discovering agent-payable services

1:34:41 Kazakhstan, sovereign Bitcoin custody, and open questions for nation-state adoption

AI Hackathon: https://hack-nation.ai/

BPI Study - Which Money do AI Agents Prefer?: https://www.moneyforai.org/

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0:00 The Presidio Bitcoin Index

04:35 Haley’s raffle tool and the promise of vibe coding

09:00 OpenClaw Builder meetup attracting a huge non-Bitcoin audience

11:40 Jesse Posner’s presentation and the expanding AI vision behind Vora

16:17 Demand for personal agent hardware and secure local AI systems

22:20 Authentication, custody, and the unresolved security model for personal agents

26:41 Builder meetup takeaways & Bitcoin as background/hidden infrastructure

29:00 River’s adoption report, miner migration, and hash rate resilience amid AI demand

33:45 Lightning scaling tensions

43:00 Lightning usage metrics and the rise in settlement volume

50:34 Agentic payments, open-source agents, and the importance for neutral monetary rails

01:02:26 Unhuman domains and the growth of agent-first digital services

01:09:28 Chat as the dominant interface & the decline of traditional apps

01:13:02 Shoutout to Alby & their agent push

01:14:05 Stablecoin news: Stripe to acquire Paypal, Meta's return to stablecoins and Lightspark’s push to win stablecoin payments

01:20:29 Block layoffs and the broader trend of AI-driven restructuring

01:29:00 Corporate layoffs & entrepreneurial adaptation in an AI world

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SHOW NOTES:

River's adoption report: https://river.com/learn/files/river-bitcoin-adoption-report-2026.pdf

Unhuman domains: https://www.unhuman.domains/

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SUBSCRIBE:

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0:00 Studio reset and laying down the law after technical issues

1:25 Mardi Gras whiplash and escaping the SF tech/AI bubble

2:35 Post-AGI life, work, and the “permanent underclass”

7:40 Presidio Bitcoin Index teaser

9:45 What “open source” means in an agent world

12:15 Ideating agent-native GitHub

16:05 OpenClaw ₿uilder meetup (SF) and March ₿uilder NYC at PubKey

19:40 Hackathon takeaways: vibe-coding enabling mass participation, exponential tooling leaps, Replit skepticism

29:40 Agentic payments primer - defining the terms and framing the landscape

39:00 Stablecoin UX reality: chain/pair explosion, gas complexity, and interoperability painpoints 52:40 Lightning as a simplifier: interoperability across wallets and consumer abstraction

56:20 KYC barriers for agents and liability questions

1:07:30 Agent-to-agent payment demo

1:10:10 Adoption strategy debate: seller adoption, agents as customers, and why there's urgency 1:27:50 OpenClaw joining OpenAI psyop speculation

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SHOW NOTES:

OpenClaw ₿uilder meetup (SF): https://luma.com/9b8p41f4

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SUBSCRIBE:

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