In this year-end review episode, we take an honest look at our 2025 predictions and how they held up against reality. Bitcoin started the year around $94k with high expectations, hit $122k in October, but closed near $87k - not quite the moonshot we anticipated. The institutional adoption we were excited about brought mixed results, with Wall Street playing their own games rather than simply pumping the price.
We reflect on what went right and wrong this year - from the disappointing lack of meaningful progress on the Strategic Bitcoin Reserve to the continued regulatory challenges in Europe. Despite missing our price targets, the fundamentals remain strong and adoption continues to grow.

Bitcoin Price at Time of Recording

Dec 23rd, 2025: $87,770 USD | 74,450 Euro

Block Height at Time of Recording

929,162

Music Credits

The Top Hats Orchestra - Nut Cracker Suite
The Top Hats Orchestra - Let It Snow

Bitcoin Price at Time of Recording

Dec 23rd, 2025: $87,770 USD | 74,450 Euro

Block Height at Time of Recording

929,162

Music Credits

The Top Hats Orchestra - Nut Cracker Suite
The Top Hats Orchestra - Let It Snow 

Website

https://satoshis-plebs.com

Podcasting 2.0 Apps available at http://podcastapps.com and Value4Value information page available here: https://value4value.info

McIntosh can be reached by email at [email protected] and on Twitter at @McIntoshFinTech. His mastodon handle is @[email protected] and his Nostr.  Kenshin can be reached on Twitter at @kenshin_ninja or on Nostr. Kenshin’s email is [email protected]. You can also follow the Satoshi’s Plebs podcast account on Nostr. We are looking forward to hearing from you!

We are looking forward to hearing from you!

In this episode, Mcintosh and Kenshin discuss the IMF's influence over El Salvador's Bitcoin adoption, exploring how international financial institutions exert control over sovereign nations through monetary policy. The conversation expands to examine France's ongoing monetary colonialism in Africa through the CFA franc system, and how organizations like the IMF enable economic control over developing nations. The hosts also debate different forms of governance, from monarchies to democracies, and their long-term impacts on nations and families. Along the way, they cover personal updates including Kenshin's unexpected ban from Claude AI, mining developments in China, Japan's massive stimulus budget, and various Bitcoin ecosystem updates.

Bitcoin Price at Time of Recording

Dec 17th, 2025: $85,700 USD | 72,991 Euro

Block Height at Time of Recording

928,310

News and Resources

https://www.reuters.com/world/asia-pacific/japan-passes-118-billion-extra-budget-fund-its-biggest-post-covid-stimulus-2025-12-16/

https://www.cryptopolitan.com/china-btc-miners-shut-down-hashrate-amid-ccp-scrutiny/

Boss Challenge

Music Credits

The Top Hats Orchestra - Let It Snow
The Top Hats Orchestra - Hot Chocolate 

Website

https://satoshis-plebs.com

Podcasting 2.0 Apps available at http://podcastapps.com and Value4Value information page available here: https://value4value.info

McIntosh can be reached by email at [email protected] and on Twitter at @McIntoshFinTech. His mastodon handle is @[email protected] and his Nostr.  Kenshin can be reached on Twitter at @kenshin_ninja or on Nostr. Kenshin’s email is [email protected]. You can also follow the Satoshi’s Plebs podcast account on Nostr. We are looking forward to hearing from you!

We are looking forward to hearing from you!

In this episode, McIntosh and Kenshin react to the Federal Reserve's latest quarter-point rate cut and discuss its implications for Bitcoin. They explore the broader economic landscape, including concerns about AI's impact on employment and the economy, the potential for an AI bubble, and what various economic scenarios could mean for Bitcoin's future. The hosts also touch on the challenges of monetary policy, inflation targets, and housing markets in both the US and Sweden. They wrap up with updates on Bitcoin mining hardware, open-source development opportunities, and current market metrics.

Bitcoin Price at Time of Recording

Dec 10th, 2025: $92,860 USD | 79,500 Euro

Block Height at Time of Recording

927,308

News and Resources

https://www.businessinsider.com/yen-carry-trade-boj-japan-interest-rate-hike-stocks-bonds-2025-12

https://www.theblock.co/post/380466/texas-reportedly-kicks-off-state-bitcoin-reserve-5-million-ibit-purchase

https://www.theblock.co/post/380056/hoskinson-involves-fbi-after-developers-careless-experiment-splits-cardano-blockchain

https://finance.yahoo.com/news/us-fed-ends-qt-13-095949732.html


Music Credits

The Top Hats Orchestra - I've Got My Love To Keep Me Warm
The Top Hats Orchestra - A Charlie Brown Christmas

Website

https://satoshis-plebs.com

Podcasting 2.0 Apps available at http://podcastapps.com and Value4Value information page available here: https://value4value.info

McIntosh can be reached by email at [email protected] and on Twitter at @McIntoshFinTech. His mastodon handle is @[email protected] and his Nostr.  Kenshin can be reached on Twitter at @kenshin_ninja or on Nostr. Kenshin’s email is [email protected]. You can also follow the Satoshi’s Plebs podcast account on Nostr. We are looking forward to hearing from you!

We are looking forward to hearing from you!

McIntosh and Kenshin explore the dangerous world of "fiat games" and their consequences across global markets. They discuss Cardano's spectacular collapse after an AI-assisted coding error split the blockchain, triggering FBI involvement, and celebrate Texas becoming the first US state to actually purchase Bitcoin with $5M in iBit ETF. The Federal Reserve's pivot back to quantitative easing with a liquidity injection draws parallels to COVID-era money printing that launched Bitcoin from $3,800 to $29,000. The Japan carry trade unwind takes center stage as rising interest rates force massive deleveraging, with Bitcoin serving as the "canary in coal mine" through overnight liquidations. The episode explores Austrian versus Keynesian economics and sobering statistics from https://wtfhappenedin1971.com showing how abandoning the gold standard distorted everything from housing affordability (average first-time buyer now age 40) to soup prices—proving that playing fiat games only wins you fiat prizes.

Bitcoin Price at Time of Recording

Dec 4th, 2025: $92,800 USD | 79,500 Euro

Block Height at Time of Recording

926,308

News and Resources

https://www.businessinsider.com/yen-carry-trade-boj-japan-interest-rate-hike-stocks-bonds-2025-12

https://www.theblock.co/post/380466/texas-reportedly-kicks-off-state-bitcoin-reserve-5-million-ibit-purchase

https://www.theblock.co/post/380056/hoskinson-involves-fbi-after-developers-careless-experiment-splits-cardano-blockchain

https://finance.yahoo.com/news/us-fed-ends-qt-13-095949732.html

1971 charts

https://wtfhappenedin1971.com/
 
Music Credits

My Favorite Band - Racer Wide Number Two

Website

https://satoshis-plebs.com

Podcasting 2.0 Apps available at http://podcastapps.com and Value4Value information page available here: https://value4value.info

McIntosh can be reached by email at [email protected] and on Twitter at @McIntoshFinTech. His mastodon handle is @[email protected] and his Nostr.  Kenshin can be reached on Twitter at @kenshin_ninja or on Nostr. Kenshin’s email is [email protected]. You can also follow the Satoshi’s Plebs podcast account on Nostr. We are looking forward to hearing from you!

We are looking forward to hearing from you!

In this Thanksgiving-themed episode, McIntosh and Kenshin discuss what they're thankful for regarding Bitcoin. They reflect on their gratitude lists from the previous year and share new perspectives, including appreciation for Bitcoin's educational value in economics, its ability to encourage long-term thinking, and the growing possibility of it becoming a neutral global reserve currency. They also discuss local Bitcoin meetups, recent market volatility showing over 8% of Bitcoin moving in the last seven days, and current price action following a significant draw down from October's all-time high. The hosts debate whether Bitcoin remains in a bull market or has entered a bear phase, with differing perspectives on what patterns suggest for the future.

Bitcoin Price at Time of Recording

Nov 25th, 2025: $86,800 USD | 74,900 Euro

Block Height at Time of Recording

925,159

Episode Page

https://satoshis-plebs.com/episode-234

Music Credits

Joe Martin
The Jetsons

Website

https://satoshis-plebs.com

Podcasting 2.0 Apps available at http://podcastapps.com and Value4Value information page available here: https://value4value.info

McIntosh can be reached by email at [email protected] and on Twitter at @McIntoshFinTech. His mastodon handle is @[email protected] and his Nostr.  Kenshin can be reached on Twitter at @kenshin_ninja or on Nostr. Kenshin’s email is [email protected]. You can also follow the Satoshi’s Plebs podcast account on Nostr. We are looking forward to hearing from you!

We are looking forward to hearing from you!

In this episode, McIntosh and Kenshin dive into the current Bitcoin market conditions and whether we're heading into a bear market. With Bitcoin hovering around $83,000—down roughly 34% from its all-time high—the hosts debate what historical patterns suggest versus what unique factors might be at play this cycle. They discuss the impact of ETF selling pressure (including BlackRock's record outflows), institutional buying from El Salvador and MicroStrategy, and the macroeconomic forces that could shape Bitcoin's trajectory in the coming months.
The conversation touches on potential U.S. monetary policy shifts, the effectiveness of recent economic measures, and why the hosts believe DCA remains the smartest strategy regardless of short-term price action. Whether you're nervous about the dip or seeing it as a buying opportunity, this episode offers perspective on staying grounded during volatile times.

Bitcoin Price at Time of Recording

Nov 21st, 2025: $83,500 USD | 72,500 Euro

Block Height at Time of Recording

924,609

Episode Page

https://satoshis-plebs.com/episode-233

Music Credits

Joe Martin
The Jetsons

Website

https://satoshis-plebs.com

Podcasting 2.0 Apps available at http://podcastapps.com and Value4Value information page available here: https://value4value.info

McIntosh can be reached by email at [email protected] and on Twitter at @McIntoshFinTech. His mastodon handle is @[email protected] and his Nostr.  Kenshin can be reached on Twitter at @kenshin_ninja or on Nostr. Kenshin’s email is [email protected]. You can also follow the Satoshi’s Plebs podcast account on Nostr. We are looking forward to hearing from you!

We are looking forward to hearing from you!

In this episode, hosts McIntosh and Kenshin explore whether quantum computing poses a real threat to Bitcoin. They discuss findings from the Presidio Bitcoin Quantum Summit, where experts' concern about cryptographically relevant quantum computers arriving within 5-20 years increased after the event. However, the hosts emphasize this is not an imminent threat—current quantum computers are extremely expensive, error-prone, and nowhere near capable of breaking Bitcoin's cryptography. Solutions like BIP 360 are already being proposed to implement quantum-resistant algorithms when needed.

Bitcoin Price at Time of Recording

Nov 5th, 2025: $104,436 USD | 90,800 euro

Block Height at Time of Recording

922,362

Episode Page

https://satoshis-plebs.com/episode-232

Music Credits

Joe Martin
The Jetsons

Website

https://satoshis-plebs.com

Podcasting 2.0 Apps available at http://podcastapps.com and Value4Value information page available here: https://value4value.info

McIntosh can be reached by email at [email protected] and on Twitter at @McIntoshFinTech. His mastodon handle is @[email protected] and his Nostr.  Kenshin can be reached on Twitter at @kenshin_ninja or on Nostr. Kenshin’s email is [email protected]. You can also follow the Satoshi’s Plebs podcast account on Nostr. We are looking forward to hearing from you!

We are looking forward to hearing from you!

In this episode, McIntosh and Kenshin have an honest conversation about the podcast's sustainability and future direction. After over four years of producing content, they discuss the challenges of maintaining a value-for-value podcast and share their plans to improve the show through better audio quality, enhanced content, and potentially bringing in sponsors while maintaining their ethical standards.

The hosts outline their timeline and goals for growth, ask for listener feedback on proposed improvements, and emphasize their commitment to serving the Bitcoin community. They also cover the current Bitcoin price sitting at $106,885 and revisit the discussion about market cycles and potential patterns that may indicate where we are in the current cycle.

Resources

https://bullishmarket.onrender.com

https://primal.net/e/nevent1qqs99hxfvhsgxu0s0s9g5mr8p09fd9gs2us6z4j5j3ehu8mvw2ttzqs2du4vw

https://bitcoin.clarkmoody.com/dashboard/

Nodes distribution:

https://bitref.com/nodes/

Bitcoin Price at Time of Recording

October 30th, 2025: $106,885 USD | 92,200 euro

Block Height at Time of Recording

921,516

Episode Page

https://satoshis-plebs.com/episode-231

Music Credits

Joe Martin
The Jetsons

Website

https://satoshis-plebs.com

Podcasting 2.0 Apps available at http://podcastapps.com and Value4Value information page available here: https://value4value.info

McIntosh can be reached by email at [email protected] and on Twitter at @McIntoshFinTech. His mastodon handle is @[email protected] and his Nostr.  Kenshin can be reached on Twitter at @kenshin_ninja or on Nostr. Kenshin’s email is [email protected]. You can also follow the Satoshi’s Plebs podcast account on Nostr. We are looking forward to hearing from you!

We are looking forward to hearing from you!

In this episode, McIntosh and Kenshin tackle the question on everyone's mind: is this the start of a bear market? With Bitcoin consolidating around $107k and noise on the internet getting louder about a potential downturn, the hosts dive into price action, market sentiment, and what indicators might signal a true bear market versus healthy consolidation.

News

Proton at the United Nations Forum
Signal with Ecash

Resources

Bitcoin Node Comparison Chart
"The Prophecy"

Bitcoin Price at Time of Recording

October 22nd, 2025: 107,640 USD | 92,700 euro

Block Height at Time of Recording

920,290

Episode Page

https://satoshis-plebs.com/episode-230

Music Credits

Joe Martin
The Jetsons

Website

https://satoshis-plebs.com

Podcasting 2.0 Apps available at http://podcastapps.com and Value4Value information page available here: https://value4value.info

McIntosh can be reached by email at [email protected] and on Twitter at @McIntoshFinTech. His mastodon handle is @[email protected] and his Nostr.  Kenshin can be reached on Twitter at @kenshin_ninja or on Nostr. Kenshin’s email is [email protected]. You can also follow the Satoshi’s Plebs podcast account on Nostr. We are looking forward to hearing from you!

We are looking forward to hearing from you!

In this week's episode, McIntosh and Kenshin answer listener questions from Nostr, covering topics ranging from European Bitcoin adoption to the future of decentralized social media. The hosts discuss where European Bitcoiners might consider relocating as regulations tighten, with Switzerland emerging as a top choice despite its costs. They tackle questions about Bitcoin's role as money versus store of value, Nostr's current challenges with relay infrastructure and growth, and whether CBDCs pose any real threat to Bitcoin. The conversation also touches on Strike's new Bitcoin-backed loans in Europe, the latest Sparrow wallet update with silent payment support, and predictions for Bitcoin adoption over the next decade.

Resources

Kenshin's Nirvati Install

Software Updates

Sparrow 2.3.0

Bitcoin Price at Time of Recording

Oct 8th, 2025: 123,687 USD | 106,300 euro

Block Height at Time of Recording

918,225

Episode Page

https://satoshis-plebs.com/episode-229

Music Credits

Freedom Code Revolution
Send It Mike

Website

https://satoshis-plebs.com

Podcasting 2.0 Apps available at http://podcastapps.com and Value4Value information page available here: https://value4value.info

McIntosh can be reached by email at [email protected] and on Twitter at @McIntoshFinTech. His mastodon handle is @[email protected] and his Nostr.  Kenshin can be reached on Twitter at @kenshin_ninja or on Nostr. Kenshin’s email is [email protected]. You can also follow the Satoshi’s Plebs podcast account on Nostr. We are looking forward to hearing from you!

We are looking forward to hearing from you!