What Bitcoin Did

"This doesn’t stop, it accelerates from here."

Rob Hamilton returns to discuss the AI attacks on Bitcoin, the fallout from the Coldcard hack and the volunteers racing to find vulnerabilities before hackers do. He explains how the Bitcoin Red Team scanned around 650 codebases, flagging more than 10,000 potential issues, including 1,500 rated high or critical.

We discuss how a $1 AI scan helped Rob identify the Coldcard flaw, what the team found when it tested Bitcoin Core, and how AI is uncovering problems that security audits missed. Rob also explains why he expects the attacks to spread beyond Bitcoin.

We also get into what this means for self-custody, the risks of relying on a single hardware wallet, multisig, testing your backups and whether Bitcoiners really understand the systems protecting their life savings.

Finally, we discuss why some American AI models refused to help with the defensive work, how Chinese open models filled the gap, and why Rob sees attempts to restrict access to AI as a threat to freedom of thought.

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“The people who bet right by being early to Bitcoin are the ones who get blamed.”

Avik Roy returns to discuss why he believes America’s debt crisis is far worse than official forecasts suggest, and why Bitcoiners shouldn’t assume they’ll be safe. We get into his 15-year warning, the risk of bank failures and inflation, and how governments could restrict access to Bitcoin or target those who hold it.

We also discuss self-custody, capital controls and the freedom to exit, before getting into Bitcoin treasury companies and whether their incentives align with shareholders.

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BITGO - Secure your Bitcoin with institutional grade security.

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ANCHORWATCH - Insured Bitcoin custody, security & inheritance. Book a consultation: https://www.anchorwatch.com/wbd

BITKEY - Get 10% off the new Bitkey wallet with code WBD.

https://bitkey.world/wbd

EXPAT MONEY - Build your Plan B. Explore second residencies, citizenship and offshore wealth protection.

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“The worst thing is to not own any of it.”

Eric Yakes returns to discuss why he believes Bitcoin’s four-year cycle is breaking, why diminishing returns may not be inevitable, and how institutional and nation-state demand could change the next rally. He explains why Bitcoin needs to become bigger and more liquid before its largest potential buyers can make meaningful allocations.

We also get into Bitcoin’s role as a hedge against debasement, the debate over money versus digital gold, and why Eric rejects the “private Bitcoin” pitch around Zcash. We finish with how AI could make Bitcoin’s scarcity more valuable, the security risks that concern him most, and why he still believes the biggest mistake is owning none.

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BITGO - Secure your Bitcoin with institutional grade security.

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ANCHORWATCH - Insured Bitcoin custody, security & inheritance. Book a consultation: https://www.anchorwatch.com/wbd

BITKEY - Get 10% off the new Bitkey wallet with code WBD.

https://bitkey.world/wbd

EXPAT MONEY - Build your Plan B. Explore second residencies, citizenship and offshore wealth protection.

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“Bitcoin feels alive, but not intelligent. And AI feels intelligent, but not alive.”

Dhruv Bansal joins to discuss why AI may need Bitcoin to survive, why autonomous agents could choose Bitcoin over dollars and stablecoins, and how earning Bitcoin to pay for their own resources could align them with human needs.

We also get into how Bitcoin could help rebuild a free and open internet, the problems with advertising and surveillance, and whether AI could accelerate hyperbitcoinization. Dhruv explores how Bitcoin and AI could give rise to a new form of digital life and why he sees an optimistic path for both.

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BITGO - Secure your Bitcoin with institutional grade security.

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ANCHORWATCH - Insured Bitcoin custody, security & inheritance. Book a consultation: https://www.anchorwatch.com/wbd

BITKEY - Get 10% off the new Bitkey wallet with code WBD.

https://bitkey.world/wbd

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“We experienced, as a percentage of deposits, the biggest bank run in history.”

Alan Lane joins to discuss the fall of Silvergate, the bank run that followed FTX’s collapse, and how his team kept meeting withdrawals as 70% of deposits left. He explains why he believed the bank could rebuild and what changed between surviving the run and deciding to close.

We also get into Operation Choke Point 2.0, why Alan believes Washington wanted the industry cut off from banking, and the failures of Silicon Valley Bank and Signature just days after Silvergate’s wind-down announcement.

THANKS TO OUR SPONSORS:

LEDN - Explore Bitcoin-backed loans and get 0.25% off your first loan.

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BITGO - Secure your Bitcoin with institutional grade security.

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ANCHORWATCH - Insured Bitcoin custody, security & inheritance. Book a consultation: https://www.anchorwatch.com/wbd

BITKEY - Get 10% off the new Bitkey wallet with code WBD.

https://bitkey.world/wbd

EXPAT MONEY - Build your Plan B. Explore second residencies, citizenship and offshore wealth protection.

https://expatmoney.com/wbd

“You actually have the president and the Treasury working for Bitcoin because they’re working for a weaker dollar.”

Matt Cole joins to discuss why he believes America’s debt crisis leaves the government with few good options, how rising bond yields could force the Treasury and Fed to intervene, and why a weaker dollar could fuel Bitcoin’s next bull market.

We also get into why AI could create abundance without generating enough tax revenue to fix the debt problem, his case for $500K Bitcoin by 2030, and whether Bitcoin is entering a supercycle.

THANKS TO OUR SPONSORS:

LEDN - Explore Bitcoin-backed loans and get 0.25% off your first loan.

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ANCHORWATCH - Insured Bitcoin custody, security & inheritance. Book a consultation: https://www.anchorwatch.com/wbd

BITKEY - Get 10% off the new Bitkey wallet with code WBD.

https://bitkey.world/wbd

EXPAT MONEY - Build your Plan B. Explore second residencies, citizenship and offshore wealth protection.

https://expatmoney.com/wbd

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“I think everyone is underestimating the speed of AI.”

Jordi Visser joins the show to discuss why he believes AI could trigger a major shift in global wealth, weaken the investment appeal of stocks and real estate, and create a new bull case for Bitcoin. He explains why wealthy investors haven’t needed Bitcoin yet, and how AI’s deflationary effects could change that.

We also get into whether AI is a bubble, how agents and tokenization could transform finance, and why Big Tech may struggle to maintain its dominance.

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“The things they need to do to bring inflation down are just too painful for them.”

Andy Constan returns to discuss why he thinks politicians will keep running large deficits, how inflation can shift the cost of America’s debt onto savers and future generations, and why that creates a bull case for Bitcoin.

We also get into how institutions decide whether to own Bitcoin, why its volatility and weak correlation with gold keep Andy on the sidelines, and whether a US debt collapse is inevitable. Andy explains why bonds look more attractive to him today, what it would take to bring inflation down, and whether AI could change America’s debt outlook.

THANKS TO OUR SPONSORS:

LEDN - Explore Bitcoin-backed loans and get 0.25% off your first loan.

SWAN - Buy Bitcoin, Build Wealth. Discover Swan’s Bitcoin products for individuals and businesses.

ANCHORWATCH - Insured Bitcoin custody, security & inheritance. Book a consultation:

BITKEY - Get 10% off the new Bitkey wallet with code WBD.

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“You don’t need inflation for anything whatsoever. It’s essentially a counterfeiting cartel.”

Peter St Onge returns to discuss why he believes 2% inflation is a scam, how central banks transfer wealth from savers to governments and Wall Street, and why technological progress should be making life cheaper.

We also get into Austrian economics, his argument that the Fed causes the recessions it then tries to fix, and America’s growing debt problem. Peter explains why he thinks the AI bubble still has room to run, how he uses Bitcoin as a place to park profits, and what could bring money back from AI into Bitcoin.

THANKS TO OUR SPONSORS:

LEDN - Explore Bitcoin-backed loans and get 0.25% off your first loan.

SWAN - Buy Bitcoin, Build Wealth. Discover Swan’s Bitcoin products for individuals and businesses.

ANCHORWATCH - Insured Bitcoin custody, security & inheritance. Book a consultation:

BITKEY - Get 10% off the new Bitkey wallet with code WBD.

CAPE - Get 33% off your first six months with code WBD.

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“I think the primary product that they’re the most interested in selling is AI psychosis.”

Erik Cason returns to discuss why he believes American capitalism has already ended, how AI could accelerate the rise of the surveillance state, and why owning your own AI could become as important as holding your own Bitcoin.

We also get into AI dependence, his warning of a “digital 9/11”, the competition between Chinese open models and American AI companies, and the personal AI system he’s building. Erik explains how Bitcoin and cryptography fit into this future, and why Bitcoin could become essential for paying for AI when governments restrict access.

THANKS TO OUR SPONSORS:

LEDN - Explore Bitcoin-backed loans and get 0.25% off your first loan.

SWAN - Buy Bitcoin, Build Wealth. Discover Swan’s Bitcoin products for individuals and businesses.

ANCHORWATCH - Insured Bitcoin custody, security & inheritance. Book a consultation:

BITKEY - Get 10% off the new Bitkey wallet with code WBD.

CAPE - Get 33% off your first six months with code WBD.

FOLLOW:

Danny Knowles: https://x.com/_DannyKnowles

Erik Cason: https://x.com/Erikcason