“We don’t really have the tools to deal with fiscal-driven inflation.”

Lyn Alden returns to discuss why the US is entering deeper fiscal dominance, what the Treasury’s recent buybacks signal, and why America’s growing debt and $2 trillion deficits are changing what monetary policy can actually achieve.

We discuss the increasingly K-shaped economy, why developed markets are beginning to take on characteristics once associated with emerging markets, and why Lyn believes this macro environment could persist well into the 2030s.

Lyn also explains why she believes Bitcoin is increasingly well positioned for the years ahead, why capital could rotate out of the AI trade, and what would need to happen for Bitcoin to enter a stronger bull market.

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“There is a reckoning. There is a point at which something has to be addressed.”

Nik Bhatia returns to get into America’s $40 trillion debt problem, why the real danger is the share of tax revenue being consumed by interest, and how continued Treasury bill issuance could eventually trigger stress in the repo market and force the Fed to intervene.

We discuss whether Treasury buybacks helped drive Bitcoin’s recent 20% rally, why the UK, France and Japan may face major monetary intervention before the United States, and how Washington is attempting to reclaim control of the offshore dollar system. Is the world entering a new kind of financial war?

Nik also explains why he believes Bitcoin’s bottom is in but the next bull market has not yet begun, what his liquidity indicators are signalling, and why the bond market could determine Bitcoin’s next major move.

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“You could have a massive cycle here this time around that will shock people.” — Joe Carlasare

Joe Carlasare is a commercial litigator, Bitcoiner and author of Unconfiscatable.

In this interview, we discuss why he believes the Bitcoin bottom is in, how the recent drawdown changes Bitcoin’s risk profile, and why a move above $100K could trigger the next major cycle.

We also discuss institutional adoption, the future of the four-year cycle, Bitcoin-backed banking and credit, Treasury buybacks, fiscal dominance, AI investment, structural inflation and why Joe is bullish on the economy, markets and Bitcoin.

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“Everything’s structurally changed.”

Eric Yakes is back on the show to explain why Bitcoin may never suffer another 80% crash, and why the recent 50% drawdown could prove that the four year cycle is finally dead.

We discuss whether yield curve control has arrived under another name, why Bitcoin is becoming a hedge against monetary debasement and the potential for a great rotation out of AI and gold and why gold could reach $10,000 while Bitcoin runs from $80,000 to $800,000.

Eric also gets into how the US push for stablecoins could unintentionally accelerate Bitcoin adoption, why stablecoins may provide the route to hyperbitcoinization, how Bitcoin could become the world’s most valuable collateral and why fractional reserve banking might actually help Bitcoin win.

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“Your conversations and your money should not have to live in totally separate places.”

Seth for Privacy is the COO of Cake Wallet and Radar, a Signal-compatible messenger combining encrypted conversations with self-custodial Bitcoin payments. In this episode, he explains why the next wave of Bitcoin adoption may begin inside an everyday messenger—not a standalone wallet.

We discuss how Radar makes sending Bitcoin feel as natural as sending a message, why Spark made that experience possible, and the challenge of combining simple UX, privacy and self-custody at scale. Seth also breaks down Radar’s connection to the Signal network, its plans for fiat top-ups and stablecoins, and why compromising someone’s phone can defeat even the strongest encryption.

We also get into Zcash’s historic counterfeiting vulnerability, Monero’s privacy model, Bitcoin privacy and how Silent Payments, PayJoin and better developer tools could make private, self-custodial Bitcoin practical for everyday users.

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“They’re saving all their money in Bitcoin and they’re doing all the right things. They’re self-custodying it. And then overnight, it’s just gone.”

Frostsnap’s Lloyd Fournier and Nick Farrow join me to break down the catastrophic Coldcard vulnerability that made supposedly secure Bitcoin keys guessable and allowed attackers to drain more than 1,700 BTC without ever touching the devices.

We discuss how a five-year failure in Coldcard’s randomness generation went undetected, why every safeguard failed and the role AI played in discovering and exploiting the bug. Nick also explains how he reproduced the attack himself, what the on-chain evidence reveals about the attackers and why this has shaken trust in Bitcoin self-custody.

We also get into whether hardware wallets are really trusted third parties, the limitations of dice rolls and air gaps, how Dark Skippy can leak a seed through a single transaction and why single-signature custody may need to change.

Finally, Lloyd and Nick explain how Frostsnap uses distributed key generation and threshold signatures to remove single points of failure, simplify recovery and secure Bitcoin across multiple locations.

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“The reason it goes up is because you get to seller exhaustion. No one wants to sell anymore.”

Checkmate is a Bitcoin analyst and founder of Checkonchain. In this episode, he explains why Bitcoin may be entering the final stage of the bear market, even after $8.2 billion of ETF outflows, Strategy selling, the Coldcard attack and the failure of BIP110.

We discuss whether $58k marked the bottom, why a fall to $45k would inflict damage comparable to the brutal 2015 bear market, and the key levels that would signal Bitcoin is turning bullish again. We also get into the massive accumulation between $58k and $78k, why bull markets begin before the narrative arrives, whether the parabolic phase of the AI trade is over, and why money printing will eventually bring investors back to Bitcoin.

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“We’ve already fucking won.”

Bitcoin went from a weird internet experiment to an asset that Wall Street, corporations and governments can no longer ignore. But as the suits pile in, is Bitcoin losing the culture that made it matter?

Recorded live at PubKey in New York City, American HODL, Junseth and Erik Cason & Thomas Pacchia are on the show for an unfiltered conversation about Bitcoin’s conquest of Wall Street, why everyone still thinks they’re late, the promise of $100 million Bitcoin and whether Bitcoin needs a new narrative.

We also discuss the rise of Bitcoin treasury companies, building businesses with AI, escaping economic nihilism, individual sovereignty and why prosperity remains Bitcoin’s true killer app.

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“The people who are truly productive are going to be on a rocket ship.”

AI is about to split society in two: those who learn to command it and those whose value it destroys.

Zack Shapiro, Head of Policy at the Bitcoin Policy Institute, explains why AI could dismantle the traditional white-collar career ladder while creating millions of millionaires. He argues that judgment, agency and decisive thinking will become exponentially more valuable, while simply working hard may no longer be enough.

We discuss why most people are using AI incorrectly, how it could transform law and business, whether mass unemployment and universal basic income are coming, and why Zack believes there is a 15% chance AI could wipe out humanity.

We also explore the battle between technological abundance and authoritarian control, why autonomous AI agents may naturally choose Bitcoin, the future of the CLARITY Act, protections for Bitcoin developers, and whether America will ever meaningfully build a Strategic Bitcoin Reserve.

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“There’s no balance sheet in the world that can cough up a trillion dollars.”

In this episode, Mauricio Di Bartolomeo explains why he believes Bitcoin-backed loans could become a $1 trillion market within the next five to ten years, and why traditional lender balance sheets cannot finance that growth alone.

Mauricio breaks down Ledn’s $188 million Bitcoin-backed securitisation, the significance of its investment-grade senior notes, and how institutional capital could transform Bitcoin lending into a global credit market. He also explains partial liquidations, auto top up, tokenised gold and the potential for hybrid Bitcoin-and-gold collateral.

The conversation also explores the hidden risks behind “no-liquidation” loans, why cheaper borrowing can conceal dangerous counterparty risk, and whether parts of the industry are repeating the mistakes that preceded the last crypto credit collapse.

We also get into the ongoing changes in Venezuela following Maduro’s capture, the devastation caused by the La Guaira earthquakes, and why he believes the country may finally have an opportunity to rebuild.

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