This week we start off discussing the relationship between the separation of church and state and the separation of state and money, and how bitcoin and bitcoin maximalism plays a role. From there we discuss the macro base case for bitcoin. We finally wrap with the weekly ethereum beef and a discussion of blockchain governance and how stablecoins may play a roll.

1:00 - 13:00 - Separation of Church and State vs. Separation of State and Money

13:00 - 17:30 - Defining "toxicity"

17:45 - 39:45 - Bitcoin narratives and macroeconomics

40:00 - 56:00 - Dap discusses his recent podcast appearance/the weekly Ethereum beef