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A podcast that explores the emergence of Bitcoin as the world's greatest monetary upgrade.
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- Episode #196 – What Wealth Is · 30 minMost people misjudge Bitcoin because they have never been given a working definition of wealth. David Deutsch's is the set of transformations you could perform without generating…
- Episode #195 – The Gap · 37 minBitcoin is a machine for remembering, and it works because of one deliberate hole in its memory. The Coldcard entropy failure filled that hole with facts the world had already…
- Episode #194 – States that Travel · 33 minBeing early and being wrong are the same position, and the original Bitcoin thesis, the one that expected people to figure it out quickly, was 90 percent wrong. Out of that error…
- Episode #193 – The Locus of Intelligence · 31 minThe intelligent party in a conversation with a frontier model is not the model. Both the people building these systems and the people warning against them assume otherwise, and…
- Episode #192 – The Universe Demands Horns · 35 minA persistent knowledge structure can only take one shape. Information is physical, verification is asymmetric, and those two facts force a Gabriel’s horn topology on anything…
- Episode #191 – Why The Search Has To Be Expensive · 41 minP versus NP is the question of whether finding a solution is genuinely harder than checking one. Almost every working mathematician believes finding is harder, and the entirety…
- Episode #190 – Time · 51 minSomewhere in the world a person has either lost their private keys or has chosen to take them to the grave, and a fixed quantity of Bitcoin will never move again. The surface…
- Episode #189 – Gabriel’s Horn: The Shape of Everything · 40 minEpisode #189 | Published April 23, 2026 In 1641, Evangelista Torricelli rotated the curve y = 1/x around the horizontal axis and obtained a shape whose interior volume converges…
- Episode #188 – The Exhaust Principle · 32 minIn 1973, Jacob Bekenstein, then John Wheeler’s graduate student at Princeton, demonstrated that a black hole’s entropy is proportional to its surface area, a formula that Stephen…
- Episode #187 – The Shannon Trap · 41 minIn 1948, Claude Shannon published A Mathematical Theory of Communication and solved, in a single paper, the problem of how to transmit a signal reliably through a noisy channel…
- Episode #186 – The Anti-Demon · 45 minEpisode #186 | Published March 23, 2026 This episode builds a physical theory of Bitcoin from first principles. It starts with a clay jug, works through Rolf Landauer’s 1961 IBM…
- Episode #185 – ABS Ratings = Milkshake NGU · 36 minEpisode #185 | Published February 26, 2026 A lender took a pool of bitcoin-collateralized loans, packaged the pool into an asset-backed security, sold roughly $188 million of…
- Episode #184 – On the Same PageEpisode #184 | Published February 19, 2026 | Duration: 38:24 Two independent research tracks converged on the same conclusion from different directions: Bitcoin blocks function…
- Episode #183 – Capital in the 22nd CenturyEpisode #183 | Published January 23, 2026 | Duration: 37:05 A response to “Capital in the 22nd Century” by Philip Trammell and Dwarkesh Patel, a paper arguing that AI will…
- Episode #182 – Kabuki TheatreEpisode #182 | Published December 5, 2025 | Duration: 33:13 The financial system is Kabuki Theater. The reverse repo facility just saw its second-largest injection ever…
- Episode #181 – Fermi’s Folly · 38 minEpisode #181 | Published November 11, 2025 | Duration: 38:30 If intelligent life should be common, why does the universe look silent? This conversation reframes Fermi’s Paradox…
- Episode #180 – Gradients Are Everywhere · 34 minEpisode #180 | Published November 3, 2025 | Duration: 34:17 How do capital flows actually move in a world where trust is decaying and verification is becoming more important?…
- Episode #179 – Pizza Dough · 46 min
