

Bitcoin Takeover Podcast
Vlad Costea
On the Bitcoin Takeover podcast you're going to hear the builders and innovators who make the Bitcoin project valuable. It's thanks to their work that the BTC price goes up, and it's their efforts that convince large investors that Bitcoin is the future of money. Here you will find the projects and ideas that will radically improve Bitcoin in the future, presented by the creators and innovators themselves. Time to learn!
Episodes
Mentioned books

Oct 2, 2025 • 4h 3min
S16 E47: Max Hillebrand on White Noise & Private Messaging on Nostr
Max Hillebrand makes his 8th appearance on the Bitcoin Takeover Podcast in order to talk about his latest project: White Noise, a private messaging application for Nostr. We also talk about Core v30 vs Knots, Bitcoin layer 2s & other bull market topics.
Time stamps:
00:01:07 - Max Hillebrand's Background
00:02:47 - Post-Wasabi Wallet Era and Privacy Challenges
00:04:28 - Nostr Protocol Overview
00:05:58 - Early Nostr Experiences and Key Loss
00:08:51 - Nostr Client Progress and Edge Cases
00:09:58 - Nostr's Relation to Bitcoin
00:13:53 - Hardware Wallets for Nostr Keys
00:18:06 - Nostr Key Backups and Security
00:21:53 - Nostr Search and Web of Trust
00:24:21 - Ads: Bitcoin.com News and NoOnes.com
00:26:12 - White Noise Protocol Introduction
00:27:52 - NIP 44 and Gift Wraps for Encryption
00:30:20 - Signal Protocol and MLS Evolution
00:32:16 - MLS Protocol Details
00:33:23 - Nostr Privacy Limitations
00:35:17 - Trusted Relays and Metadata
00:37:25 - Nostr as Data Delivery Layer
00:38:41 - Self-Authentication in MLS
00:40:02 - Group Creation and Key Packages
00:42:38 - MLS vs. Major League Soccer Joke
00:42:53 - Diffie-Hellman and Scaling to Millions
00:44:24 - MLS Key Tree Structure
00:46:59 - Scalability Benefits of MLS
01:18:00 - Marmot and Nostr Tools
01:25:30 - The Zcash Pump Dance
03:09:25 - Angor Protocol for Recurring Payments
03:14:02 - Bitcoin Script and Smart Contracts
03:15:32 - Great Script Restoration Proposal
03:21:03 - Builder Spirit in Bitcoin vs. Ethereum
03:25:19 - Bills of Exchange and Peer-to-Peer Credit
03:33:09 - Historical Finance and Farming
03:38:35 - Starting Bitcoin Meetups
03:41:43 - Localizing Bitcoin Content
03:44:17 - Recommended Podcasts
03:47:48 - Podcast Benefits and Guest Interactions
03:54:39 - Audience Quality and Impact
03:55:36 - White Noise Future and Building Freedom Tech
03:58:51 - AI Coding and Proof of Concepts
04:00:38 - Nym Mixnet Integration
04:01:54 - Closing Remarks and Future Sessions

Sep 30, 2025 • 4h 33min
S16 E46: Val Venis on Bitcoin, Liberty & Wrestling
Back in 2013, former WWE Intercontinental Champion Val Venis bought 24 bitcoins for $80 each. Today, he is a big advocate for freedom, privacy, and the right to benefit from the product of your own labor without extortion.
In this episode, we talk about libertarianism, his love for private internet money, and his WWE stories.
Time stamps:
00:00:00 - Intro: Val Venis Entrance & Attitude Era Reflections
00:01:51 - Hello Biological Ladies: Modern PC Culture & Twitter Feuds
00:02:46 - Wrestling Eras: From Attitude to Ruthless Aggression & PG Shift
00:03:30 - Political Outspokenness: Why No Hall of Fame Yet?
00:04:35 - Importance of Politics: Social & Financial Impacts on Society
00:05:13 - Val Venis Character: Porn Star Gimmick Ahead of Its Time
00:05:36 - Right to Censor Storyline: Mocking the PTC & Censorship Trends
00:09:51 - Libertarian Roots: Pro-Free Speech Evolution in Wrestling
00:10:03 - Early Political Views: From Socialist Leanings to Awakening
00:11:32 - Tax Trauma at 17: First Encounter with Government Overreach
00:15:13 - Taxation as Immoral: Due Process Failures & Slanted Courts
00:18:45 - Wikipedia Misrepresentation: Beyond Cannabis Advocacy
00:20:02 - Cannabis as Rebellion: Fighting Malum Prohibitum Laws
00:24:24 - Privacy Coins & Freedom: Using Cannabis to Push Liberty
00:30:05 - Slanted Courts & Tyranny: Presumptions Over Facts in Taxation
00:33:30 - Discovering Bitcoin: From Federal Reserve Critique to White Paper
00:35:12 - Money as Bankers' Tool: Inflation as Value Theft via Fiat
00:38:00 - Bitcoin's Appeal: Decentralized, Fixed Supply & Cryptography
00:41:47 - Pizza Purchase Milestone: Bootstrapping Bitcoin to Fiat
00:43:57 - First Bitcoin Buy: 24 BTC in 2013 at ~$80 Each
00:47:48 - Bitcoin as Speculation vs. Fiat Alternative
00:49:38 - Wrestling & Bitcoin Parallels: Value Creation & Sovereignty
01:20:00 - Monero & Privacy: Evading Surveillance in Transactions
01:45:00 - Roger Ver Case: Libertarian Views on Tax Evasion & Justice
02:10:00 - Wrestling Highlights: Val Venis in Video Games & Stats
02:48:00 - Mount Rushmore: Vince McMahon, Hulk Hogan, Stone Cold, The Rock
03:00:00 - Chris Benoit's Legacy: Wrestling Prowess Despite Tragedy
03:15:00 - Shawn Michaels Character Shift: From Annoying to Faithful
03:30:00 - Undertaker's Success: Vince's Protection & Longevity
03:45:00 - Triple H: Business Savvy Over In-Ring Dominance
04:00:00 - Hall of Fame Hopes: Focus on Liberty Over Induction
04:10:00 - One Last Match: vs. Cody Rhodes for Cancel Culture Feud
04:18:07 - Induction Choice: Vince McMahon or Vince Russo
04:20:19 - Bridging Communities: Bitcoin in Wrestling & Fan Demands
04:25:40 - Storyline Ideas: Libertarian Manager & Bitcoin Matches
04:30:20 - Closing: Social Media, Zcash Wallet Setup & Privacy Push

Sep 25, 2025 • 8h 29min
S16 E45: Shai Wyborski on Bitcoin, Kaspa & Proof of Work Research
Shai Wyborski is one of the three co-authors of the GHOSTDAG paper, and a man who takes pride in his independent thinking and divergent approach to research. As a PhD in quantum cryptography, he's got lots of knowledge to share. But by virtue of his involvement in Bitcoin and Kaspa, he's got stories to tell too.
What does the future of Proof of Work look like? Let's find out!
Time stamps:
00:01:09 - Welcoming Shai Wyborski
00:01:28 - Dig into GhostDAG; most interesting PoW scaling tech.
00:04:44 - Shai's BTC opinions over time
00:05:21 - How Shai spent BTC on "creativity fuel" (undisclosed).
00:06:31 - Disenchantment: Steam drops BTC (congestion/volatility); SegWit "tyranny" births BCH.
00:10:47 - Rejects SoV; BTC as "decentralized vault" for eternal data archiving.
00:15:44 - BTC probs: Low TPS; LN fails.
00:16:15 - Kaspa suite: Beyond TPS/confirmations.
00:16:59 - Tradeoff: High throughput → no audit; pruning for 10-30yr trust.
00:18:40 - GhostDAG multi-ledger: Parallel processing, flexible tx order.
00:19:45 - Miners: Partial info cuts selfish mining/MEV.
00:20:42 - Enables auctions/oracles (Elliot Mabe block-voting).
00:21:40 - Debunks PoW myths: BTC artifacts (congestion for fees).
00:22:15 - Kaspa: Paradigm shift proof; lessons from protocols.
00:23:24 - Flaw: Fast emission + fair launch = whale buyout.
00:23:49 - Fair ≠ community; coercion w/o social contract.
00:25:10 - Whales fund → control; monetary world nature.
00:27:46 - Balance: Incentives, explicit contracts.
00:30:31 - Mining phases: CPU/GPU/ASIC stages; ultra-ASIC decen lock.
00:32:22 - ASIC-friendly: Cheap/low-power scale.
00:32:47 - Emission: Heavy early; ASICs 80-90% pre-retail.
00:34:29 - Full supply lifetime; tail short?00:35:28 - BTC emission extend 2-4x for social good.
00:37:27 - Kaspa whales: 3 hold 6% ($100M), foundation collusion.
00:38:27 - Kaspa emission: 60% in 1.5yrs emulates BTC adjusted for fast adoption.
00:41:16 - Guitar jam & sponsors.SideShift.ai: KYC-free swaps. NoOnes.com: P2P global south, "lions" mission. Bitcoin.com News: global views. LayerTwo Labs: Drivechains, ETH/Zcash sides.
00:46:49 - Kaspa drivechain?; WBTC custody risks.
00:48:33 - Citrea: ZK-rollup BTC DeFi.
00:49:27 - Alts: Quai grant, Kadena parallels.
00:50:47 - Parallel sec dilution.
00:52:03 - Quai: Selfish mining fixes, Monero 28% vuln.
00:53:01 - Monero RandomX ASIC-hostility.
00:54:02 - PoW specialized non-wasteful.
01:00:00 - Myths: Scalable, non-congested, decentralization.
01:15:00 - Casino stifles ingenuity; hype vs depth (IOTA rush).
01:30:00 - Funding: Retail quick vs VC long (Mobileye 20yr $80B).
01:45:00 - Game theory: Mechanism design incentives.
02:00:00 - Kaspa risks: Whale control, docs issues.
07:00:00 - Music: Beatles Sgt. Pepper post-Pet Sounds.
07:15:00 - McCartney bass; prog Floyd/Crimson.07:30:00 - Pet Sounds "God Only Knows" acapella.
07:43:02 - Pop→exp; Helter Skelter metal.
07:45:36 - Metal thrash/extreme; stoner Pantheon I.
07:47:41 - HS Pantera/prog/funk.07:49:51 - Concerts: Aristocrats, AC/DC; Dylan regret.
07:52:39 - Misses: Jethro Tull/Motörhead; Bon Jovi meh.
07:55:16 - Grunge: Nirvana In Utero, Soundgarden.
07:58:11 - Smashing Pumpkins trilogy; Corgan drama.
08:00:00 - Timeless tees; Doors sloppy; Zep Moby Dick.
08:02:40 - Zappa Inca Roads/Stink-Foot.
08:07:19 - AI scans/drones; govt bans.
08:12:08 - Radical: Vault, SoV, ultra-ASIC.
08:14:02 - PoW scalable/non-wasteful.08:15:00 - Fair vs community; casino timing punish.
08:17:40 - Narratives over fundamentals; retail vs VC.
08:21:07 - Record 8h21m+; ramble praise.
08:21:50 - Q&A: Kaspa 10yr alive, adapt.
08:22:24 - Beatles Kaspa? Pruning no.
08:23:44 - Game theory mechanism design.
08:26:09 - Work: Consulting, patents, Tectonic quantum.08:29:23 - Quai edu grant, freelance.
08:31:17 - KAS +3% pump; past dumps.
08:31:58 - Quai minor pump; negative effects.
08:33:34 - First interview 0.15→0.5¢; 13 KAS dons.
08:34:21 - Jam: Theme rock, lag.
08:38:07 8h39m record! Sponsors recap.
08:40:00 - Next interview with Val Venis on Monero/WWF; banter.

Sep 17, 2025 • 3h 19min
S16 E44: Abdel on ZK STARKs & Bitcoin Maximalism
Abdel is a Starkware engineer who, over the last 7 years, went from building EIP 1559 on Ethereum to becoming a Bitcoin maximalist who wants ZK STARKs to happen. In this episode, we talk about his journey & some of Bitcoin's cultural issues.
Time stamps:
00:00:59 - Sponsors: Sideshift, Citrea, Bitcoin.com News, LayerTwo Labs, NoOnes.com
00:01:38 - Abdel's unique journey: From Ethereum core dev at ConsenSys to Bitcoin maximalism
00:02:17 - Early Bitcoin curiosity (2011-2012) vs Ethereum's "world computer" appeal
00:03:51 - Fintech background: Working for banks before fighting them
00:04:31 - Always a Bitcoin + Ethereum maxi: Building unstoppable systems
00:06:07 - North Star vs "Nostr": Unstoppable vs compromised systems
00:06:23 - Fintech to DeFi? Payments focus, not advanced trading
00:07:29 - First Ethereum contributions: Smart contracts
00:09:09 - Deep dive: Championing EIP-1559 (fee burn, ultrasound money)
00:11:03 - EIP-1559's governance risks: Changing monetary policy on the fly
00:11:16 - Ethereum's slippery slopes: DAO hard fork to fee burns
00:12:12 - Ethereum as anti-Bitcoin experiment: From colored coins to rollups
00:13:48 - Ethereum Classic hopes; market follows narratives, not fixed supply
00:14:28 - EIP-1559 process: 2+ years of debate vs Bitcoin's immutability
00:15:59 - Boiling frog with Vitalik: Accumulating compromises (trusted setups)
00:18:28 - Ethereum precedents: Premine, PoS migration, rushed upgrades
00:19:14 - Social layer strength: Protects core principles vs nation-states
00:19:41 - Non-tech users in governance: Better than dev-only control
00:22:32 - Educating the social layer: Privacy warnings in Bitcoin tools
00:24:26 - Risks: Bitcoin (tech obsolescence) vs Ethereum (social dilution)
00:26:49 - Bitcoin meetups: Ideology & tech vs Ethereum's builder focus
00:28:00 - Shocking anti-Bitcoin sentiment from Ethereum side
00:29:52 - PoW beauty: External entropy, fair distribution (not Ponzi)
00:31:44 - PoW vs PoS: Tolerating Ethereum's PoS for decentralization
00:34:20 - Bitcoin's privacy crisis: Needs scale + affordability
00:36:43 - Sponsor: Layer2 Labs (Drivechains for sidechains like Zcash fork)
00:38:02 - Sponsor: Citrea (ZK rollup on Bitcoin via BitVM2)
00:40:09 - Citrea drama: Unfair criticism amid filter wars
00:42:40 - Citrea vs Alpen: First-to-market wins (garbled circuits delay)
00:46:01 - Video game analogy: Duke Nukem Forever vs pragmatic launches
00:47:25 - Lesson from Ethereum: Optimistic rollups dominate despite ZK superiority
00:48:56 - Dev events vs mainstream: Bridging tech narratives to plebs
01:10:00 - Fragmentation in Bitcoin community, why plebs dismiss innovation
02:30:00 - Off-topic: Immigration in Europe (Romania/France parallels, economic pressures)
02:38:16 - Bitcoin as catalyst: Inflation from crises drives adoption
02:39:46 - Decentralization as development sign: Small-scale consensus
02:42:11 - New chains start centralized; trust incentives lacking in L2s
02:44:41 - Starkware as bridge to Bitcoin: Pre-existing interest
02:45:57 - Elevator pitch: STARK proofs for Bitcoin (open-source, battle-tested)
02:48:21 - Endgame: Verify STARKs on Bitcoin for programmability + privacy
02:49:52 - Meme magic: One STARK proof is smaller in size than a photo, costs less than a Big Mac, can be verified in a blink
02:52:29 - STARKs vs SNARKs: No trusted setup, quantum-secure, hash-based
02:54:31 - Experiments: Cashu with STARKs (private programmable e-cash)
02:58:37 - Nostr DVMS: Verifiable AI/services in permissionless marketplace
03:01:16 - Cashu origin story: Bar chat with Calle to Jack Dorsey endorsement
03:03:16 - Cashu honesty: Not scaling, but privacy bridge vs custodians
03:06:25 - Nihilism in Bitcoin: Mental gymnastics vs Ethereum's build-first ethos
03:07:48 - Permission culture: Asking nodes for ZK proofs/Lightning channels
03:08:27 - Event split: Dev confs (BTC++) vs narrative fests (BTC Prague)
03:10:29 - Why invest without understanding? Newbie wave acceleration
03:11:23 - Niche value: In-between content bridges extremes
03:13:48 - Who listens matters: Robin Linus' DM is more important than mass views
03:16:07 - Still early days: 16 years in, aim for 1B daily users
03:16:39 - Special word: "Grinta" (grit mindset) for full listeners
03:18:14 - Outro: Thanks & next: Shai on PoW improvements

Sep 12, 2025 • 1h 49min
S16 E43: Vikrant Sharma on Cake Wallet, Bitcoin & Privacy
Vikrant Sharma, better known as Vik, is the CEO and founder of Cake Wallet: the first Bitcoin wallet to support both Silent Payments and PayJoins. In this episode, we talk about the wallet's Monero roots & what is next in terms of features.
Time stamps:
00:01:05 - Introducing Vik
00:01:24 - Cake Wallet Features for Bitcoin and Monero
00:03:08 - Background Sync Improvements
00:03:49 - Monero.com Wallet Discussion
00:04:41 - Monero Community Insights
00:05:01 - Privacy in Monero Transactions
00:06:33 - Funding and Revenue Model
00:08:29 - Vik's Background in Steel and Tech
00:10:34 - Discovering Bitcoin and Privacy Apps
00:13:22 - Launching Cakewallet for Monero
00:14:23 - Why Start with Monero Over Bitcoin
00:15:35 - Origin of the Name "Cake Wallet"
00:17:36 - Order of Coins Added to Cake Wallet
00:19:09 - PayJoins and Silent Payments
00:21:11 - Citrea
00:22:34 - Layer 2 Labs and Drivechains
00:24:32 - Silent Payments Address Drama
00:25:35 - Qubic Mining Drama in Monero
00:30:42 - Monero's Resilience to Attacks
00:32:53 - Monero as a Stablecoin
00:33:41 - Use It to Win: Spending vs Hodling
00:36:38 - Treasury Company Plans
00:39:28 - Future of Privacy Coins
00:42:58 - SideShift.ai
00:44:20 - NoOnes.com
00:45:29 - Bitcoin.com News
00:46:37 - Taxes and Privacy Coins
00:48:42 - Layers of Privacy
00:59:00 - Zcash and Privacy Experiments
01:00:36 - Growing the Crypto Space
01:02:44 - Supported Coins: Ethereum
01:06:17 - Litecoin and MWEB Integration
01:08:43 - Dogecoin Addition
01:10:37 - Wownero for Monero Community
01:11:17 - Bitcoin Cash Support in Cake Wallet
01:13:30 - Polygon and Tron for Low Fees
01:15:44 - Nano for Feeless Payments
01:17:00 - Decred and Community Overlap
01:18:14 - Zano and Confidential Assets
01:20:06 - Lightning Network Plans
01:21:46 - Zcash Future Integration
01:23:02 - Cupcake Airgapped Wallet
01:26:00 - Considering Kaspa
01:29:56 - Dash Privacy Debate
01:32:20 - Network Effects and Wallet Choices
01:34:57 - Raven Coin Experiment
01:35:43 - Hiring Developers
01:36:18 - Custom Wallpapers and UI Overhaul
01:37:12 - One Seed for All Wallets
01:38:31 - How Many of the Supported Coins Will Survive?
01:39:46 - Multi-Coin Payment Services
01:40:32 - Pay Invoice Feature
01:42:03 - User Data and Privacy Policy
01:45:49 - Node Data Handling
01:47:04 - Advice on Self-Custody
01:48:17 - Where to Follow Vik and Cake Wallet
01:48:51 - Closing Remarks

Sep 9, 2025 • 2h 37min
S16 E42: Michael Tidwell on Bitcoin Drama & Tabconf
Michael Tidwell is the organizer of Tabconf, the longest running Bitcoin technical conference which takes place every year in Atlanta. In this episode, we talk about Bitcoin drama & use a fun roulette game to figure out who's guilty of it.
Time stamps:
00:01:09 - Welcome and episode gimmick intro
00:01:30 - Sponsors shoutout
00:01:36 - Bitcoin drama discussion starts
00:03:38 - Bitcoin Core vs Knots debate
00:04:28 - Wheel spin: Blame the plebs
00:06:52 - Egg pick: Solution is "use tabs"
00:07:56 - Adam Back's "use tabs" context from 2017
00:09:09 - Paul Sztorc's role and personality
00:10:52 - Defining "pleb" in Bitcoin culture
00:13:42 - Hodlonaut story and Lightning Torch
00:16:32 - Roger Ver interview drama
00:18:43 - Hijacking Bitcoin book discussion
00:22:58 - Layer 2 Labs sponsor plug and drivechains
00:25:14 - Citrea ZK rollup explanation
00:27:48 - Liquid federation vs true sidechains
00:32:39 - Core vs Knots diffs and risks
00:33:52 - Peter Todd's OP_RETURN proposal
00:34:56 - CSAM fears and cultural debates
00:38:05 - Illicit content already on chain
00:40:54 - Multiple Bitcoin implementations history
00:44:03 - Libbitcoin rewrite and optimizations
00:44:37 - Bitcoin Cash fork and implementations
00:46:42 - Potential hard fork predictions
01:46:05 - MEV in Bitcoin via game example
01:47:57 - Drivechains delay: Blame the spooks
01:50:27 - Solution: Hard fork
01:51:59 - Drivechains on Litecoin pros/cons
01:55:01 - Litecoin as testbed for Bitcoin tech
01:57:59 - Stablecoins on Bitcoin layers
02:00:16 - Lightning Network limitations meme
02:01:35 - Lightning critique and distractions
02:04:49 - Lightning wheel spin: Blame Jack Dorsey
02:07:34 - Solution: Listen to Bitcoin Takeover
02:08:28 - Too many Bitcoin conferences issue
02:10:45 - Early Bitcoin conferences like San Jose 2013
02:13:00 - Craig Wright blame: Roger Ver
02:17:08 - Solution: Sell all your Bitcoin
02:18:24 - Reasons to sell all Bitcoin
02:19:47 - BSV community and Craig Wright claims
02:23:28 - Mental health in Bitcoin and seeking clarity
02:27:23 - Bitcoin's robustness to issues
02:31:26 - Advice for newcomers on understanding Bitcoin
02:32:41 - TabConf plug and history books
02:35:05 - Fortune-telling wrap-up and farewell

Aug 29, 2025 • 7h 35min
S16 E41: Yonatan Sompolinsky on Bitcoin, Kaspa & Proof of Work
Yonatan Sompolinsky is an academic in the field of computer science, best known for his work on the GHOST protocol (Greedy Heaviest Observed Subtree, which was cited in the Ethereum whitepaper) and the way he applied his research to create Kaspa.
In this episode, we talk about scaling Proof of Work and why Kaspa might be a worthy contender to process global payments.
––––––––––––––––––––––––––––––––––––
Time stamps:
00:01:22 - Debunking rumors: Why some think Yonatan is Satoshi Nakamoto
00:02:52 - Candidates for Satoshi: Charles Hoskinson, Charlie Lee, Zooko, and Alex Chepurnoy
00:03:41 - Alex Chepurnoy as a Satoshi-like figure
00:04:07 - Kaspa overview: DAG structure, no orphaned blocks, generalization of Bitcoin
00:04:55 - Similarities between Kaspa and Bitcoin fundamentals
00:06:12 - Why Kaspa couldn't be built directly on Bitcoin
00:08:05 - Kaspa as generalization of Nakamoto consensus
00:11:55 - Origins of GHOST protocol and early DAG concepts for Bitcoin scaling
00:13:16 - Academic motivation for GHOST and transitioning to computer science
00:13:50 - Turtle pet named Bitcoin
00:15:22 - Increasing block rate in Bitcoin and GHOST protocol
00:16:57 - Meeting Gregory Maxwell and discovering GHOST flaws
00:20:00 - Yonatan's views on drivechains and Bitcoin maximalism
00:20:36 - Defining Bitcoin maximalism: Capital B vs lowercase b
00:23:18 - Satoshi's support for Namecoin and merged mining
00:24:12 - Bitcoin culture in 2013-2018: Opposing other functionalities
00:26:01 - Vitalik's 2014 article on Bitcoin maximalism
00:26:13 - Andrew Poelstra's opposition to other assets on Bitcoin
00:26:38 - Bitcoin culture: Distaste for DeFi, criticism of Ethereum as a scam
00:28:03 - Bitcoin Cash developments: Cash tokens, cash fusion, contracts
00:28:39 - Rejection of Ethereum in Bitcoin circles
00:30:18 - Ethereum's successful PoS transition despite critics
00:35:04 - Ethereum's innovation: From Plasma to ZK rollups, nurturing development
00:37:04 - Stacks protocol and criticism from Luke Dashjr
00:39:02 - Bitcoin culture justifying technical limitations
00:41:01 - Declining Bitcoin adoption as money, rise of altcoins for payments
00:43:02 - Kaspa's aspirations: Merging sound money with DeFi, beyond just payments
00:43:56 - Possibility of tokenized Bitcoin on Kaspa
00:46:30 - Native currency advantage and friction in bridges
00:48:49 - WBTC on Ethereum scale vs Bitcoin L2s
00:53:33 - Quotes: Richard Dawkins on atheism, Milton Friedman on Yap Island money
00:55:44 - Story of Kaspa's messy fair launch in 2021
01:14:08 - Tech demo of Kaspa wallet experience
01:28:45 - Kaspa confirmation times & transaction fees
01:43:26 - GHOST DAG visualizer
01:44:10 - Mining Kaspa
01:55:48 - Data pruning in Kaspa, DAG vs MimbleWimble
02:01:40 - Grin & the fairest launch
02:12:21 - Zcash scaling & ZKP OP code in Kaspa
02:19:50 - Jameson Lopp, cold storage & self custody elitism
02:35:08 - Social recovery
02:41:00 - Amir Taaki, DarkFi & DAO
02:53:10 - Nick Szabo's God Protocols
03:00:00 - Layer twos on Kaspa for DeFi
03:13:09 - How Kaspa's DeFi will resemble Solana
03:24:03 - Centralized exchanges vs DeFi
03:32:05 - The importance of community projects
03:37:00 - DAG KNIGHT and its resilience
03:51:00 - DAG KNIGHT tradeoffs
03:58:18 - Blockchain vs DAG, the bottleneck for Kaspa
04:03:00 - 100 blocks per second?
04:11:43 - Question from Quai's Dr. K
04:17:03 - Doesn't Kaspa require super fast internet?
04:23:10 - Are ASIC miners desirable?
04:33:53 - Why Proof of Work matters
04:35:55 - A short history of Bitcoin mining
04:44:00 - DAG's sequencing
04:49:09 - Phantom GHOST DAG
04:52:47 - Why Kaspa had high inflation initially
04:55:10 - Selfish mining
05:03:00 - K Heavy Hash & other community questions
06:33:20 - Latency settings in DAG KNIGHT for security
06:36:52 - Aviv Zohar's involvement in Kaspa research
06:38:07 - World priced in Kaspa after hyperinflation
06:39:51 - Kaspa's fate intertwined with crypto
06:40:29 - Kaspa contracts vs Solana, why better for banks
06:42:53 - Cohesive developer experience in Kaspa like Solana
06:45:22 - Incorporating ZK design in Kaspa smart contracts
06:47:22 - Heroes: Garry Kasparov
06:48:12 - Shift in attitude from academics like Hoskinson, Buterin, Back
06:53:07 - Adam Back's criticism of Kaspa
06:55:57 - Michael Jordan and LeBron analogy for Bitcoiners' mindset
06:58:02 - Can Kaspa flip Bitcoin in market cap
07:00:34 - Gold and USD market cap comparison
07:06:06 - Collaboration with Kai team
07:10:37 - Community improvement: More context on crypto
07:13:43 - Theoretical maximum TPS for Kaspa
07:16:05 - Full ZK on L1 improvements
07:17:45 - Atomic composability and logic zones in Kaspa
07:23:12 - Sparkle and monolithic UX feel
07:26:00 - Wrapping up: Beating podcast length record, final thoughts on Bitcoin and Kaspa
07:27:31 - Why Yonatan called a scammer despite explanations
07:32:29 - Luke Dashjr's views and disconnect
07:33:01 - Hope for Bitcoin scaling and revolution

Aug 22, 2025 • 2h 22min
S16 E40: Cory Klippsten on Bitcoin Culture & Maximalism
Cory Klippsten is the CEO of Swan Bitcoin and has a long history in both traditional finance and the Bitcoin space. In this two-part episode, he talks about why Bitcoin is winning and how the culture around it has changed.

Aug 18, 2025 • 6h 17min
S16 E39: Karl Kreder (Dr. K) on Scaling Proof of Work, Bitcoin & Quai
Karl Kreder, better known as Dr. K, is best known in the space for researching the use of merged-mined subnets to scale Proof of Work in 2018 – a concept which led to the launch of the Quai Network, which introduced the Proof of Entropy Minima (PoEM) consensus for high transaction throughput within a decentralized environment.
Today, we talk about his views on Bitcoin, why Proof of Work is still relevant in a world that's converging towards the more convenient Proof of Stake, and how the Quai Network works.
Time stamps:
00:00 Intro & Welcome
00:03:00 Discussion Length Challenge
00:04:00 Dr. K's Bitcoin Background
00:06:00 Wallet Security & Lattice1
00:08:00 Scaling PoW Networks
00:11:00 PoW vs PoS Debate
00:13:00 Fair Launch & Distribution Issues
00:15:00 Quai Launch & Hash Rate
00:17:00 GPU Mining & ProgPow
00:20:00 ASIC Manufacturers
00:23:00 NiceHash & AI Integration
00:26:00 Quai Network Inspiration
00:29:00 Electronic Cash Necessity
00:32:00 Quai Scale to Replace Visa
00:34:00 Decentralization & No Roadmap
00:38:00 LayerTwo Labs Ad & DriveChains
00:40:00 Hierarchy for Validation
00:42:00 Payment Platforms Limits
00:44:00 Scale Beyond Current L1s
00:46:00 Monetary History & Gold
00:50:00 Self-Custody Challenges
00:52:00 Kaspa Differences & DAG
00:54:00 Bitcoin Love & Improvements
00:56:00 BSV Technical Limits
00:58:00 Consensus as Limit
01:00:00 Wolfram Physics Project
01:02:00 Scale Analogy & Consensus
01:04:00 Quai Node Hardware
01:06:00 Systemically Important Nodes
01:08:00 Bitcoin Privacy Issues
01:11:00 CoinJoin & Deniability
01:13:00 Good vs Bad Nodes
01:15:00 Economic Surplus Incentives
01:16:00 Bitcoin.com News Ad
01:19:00 Government as Enemy
01:21:00 Digital Paths & Freedom
01:23:00 Bitcoin as Linux & Tribalism
01:25:00 Legit Coins Assessment
01:26:00 EVM Compatibility Reasons
01:34:00 Why Choose EVM
01:35:00 Programming Languages
01:37:00 Simplicity Language
01:38:00 EVM as Standard
01:40:00 Bitcoin Changes Proposal
01:42:00 Quai Mainnet Visualization
01:45:00 Sharding Coordination
01:46:00 PoEM Consensus Mechanism
01:49:00 Chain Work & Withholding
01:52:00 Work Shares Explained
01:54:00 Miner Shard Choice & Balance
01:57:00 Privacy in Sharding
01:59:00 Settlement Time Trade-Off
02:00:00 Ethereum Usage Stats
02:03:00 Qi Token & Energy Dollar
02:12:00 Quai Deflationary Supply
02:16:00 Qi Privacy Properties
02:24:00 Node Incentives & Markets
02:27:00 Kipper Tipping App
02:31:00 Blip Pay Wallet Demo
02:40:00 EVM Big Deal
02:43:00 Quai Launch Reception
02:47:00 Industry Reviews
02:49:00 PoW Sampling Theory
03:02:00 Kipper Demo
03:07:00 Multiplatform Kipper
03:12:00 Qi Denominations & Pruning
03:14:00 Messaging via Qi
03:15:00 PWAs Advantages
03:19:00 Neo PoW Explained
03:21:00 Data Provider Agnostic
03:23:00 Transaction Propagation
03:26:00 Global TPS Demand
03:28:00 Interchange Integration
03:31:00 Direct Crypto POS
03:33:00 Node Requirements in Sharding
03:35:00 Kaspa Attention Reasons
03:38:00 ASIC Future in Quai
03:41:00 Trilemma & Tetralemma
03:43:00 Hierarchy Trade-Offs
03:47:00 Security Notes
03:50:00 Resource Markets
03:52:00 Quantum Resistance
03:57:00 Work Shares Uses
04:00:00 Decentralized Pools (Dools)
04:02:00 Quai Simplicity
04:07:00 Tree Chains Comparison
04:09:00 Homogeneous Security
04:10:00 Vitalik Story
04:18:00 Qi Details
04:24:00 Dool Mechanics
04:27:00 Work Shares Info
04:29:00 2000 Viewers Milestone
04:29:00 Magic Word
04:31:00 Monero Reorgs & Qubic
04:34:00 Transaction Censorship
04:37:00 Red Balloon Problem
04:38:00 Selfish Mining
04:42:00 Liquidity Arc
04:44:00 Culture Challenge
04:46:00 Regional Trends
04:48:00 State Bloat vs Consensus
04:51:00 Storage Scaling
04:54:00 Propagation Time
04:56:00 400ms Lower Bound
04:58:00 Interplanetary Transactions
05:00:00 Reference Resolution
05:05:00 Propagation & Consensus
05:07:00 Independent Samples
05:08:00 Price Pump
05:10:00 Ideology & Tech
05:11:00 Bitcoin Scaling Limits
05:12:00 Gold as PoW
05:14:00 Self-Custody
05:17:00 Yield & MSTR
05:20:00 Pandemic Inflation
05:22:00 Dollar Future
05:24:00 Bitcoin Heterodoxy
05:25:00 Maximalism
05:29:00 Cult Dynamics
05:30:00 Mises & Rothbard
05:32:00 Roger Ver
05:36:00 Saylor Infiltration
05:37:00 Memes & Philosophies
05:38:00 Leader Emergence
05:39:00 CIA Speculation
05:40:00 Who is Satoshi?
05:41:00 Code Quality
05:42:00 Burning Keys
05:43:00 Martti Malmi Insights
05:44:00 Satoshi Is Not NSA
05:45:00 21m Is Arbitrary
05:46:00 Early Changes
05:47:00 Block Size Temp
05:48:00 Economics Assumptions
05:49:00 Satoshi Scaling
05:52:00 Tech Optimism
05:53:00 Industry Honesty
05:56:00 Sharding Complexity
05:57:00 PoW Scalability
05:58:00 Consensus Efficiency
05:59:00 Sharding Compat
06:00:00 Memes as Rhetoric
06:02:00 Hoskinson Cult
06:03:00 Fake Engagement
06:04:00 Steam Adoption
06:07:00 Overstock & Patrick Byrne
06:10:00 Design Philosophy
06:11:00 Frustrated Devs
06:12:00 Talent Exodus
06:14:00 Follow Dr. K
06:15:00 Message to Yonatan
06:16:00 Quai vs Kaspa
06:17:00 Closing Remarks

Aug 12, 2025 • 1h 55min
S16 E38: Bitcoin Payments in 2025 with Sergej Kotliar & Matt Ahlborg
Sergej Kotliar is the CEO of Bitrefill, while Matt Ahlborg recently created PPQ.AI to enable millions of users to experience LLMs without expensive subscriptions. But how are bitcoin payments doing? In this episode, they present their latest stats. Time stamps: 00:00:48 – Introducing Sergej Kotliar and Matt Aalborg
00:02:20 – Bitrefill’s Lightning Network Experience & Payment Trends
00:04:13 – Shift from Bitcoin Maximalism to Multi-Chain Usage
00:05:47 – Tron, Ethereum, and Payment Method Comparisons
00:10:04 – Defining Post-Maximalism
00:11:08 – Changing Morality and Ideology in Bitcoin
00:13:12 – Proof of Reserves & Bitcoin Company Transparency
00:14:15 – Bitrefill’s Payment Method Rankings
00:18:00 – Payment Method Percentages & Dashboard Usage
00:20:21 – Decline in On-Chain Bitcoin Payments
00:24:46 – Popular Wallets for Bitrefill Purchases
00:27:53 – Bitrefill’s Business Growth & Marketing
00:29:04 – Adoption Pace & Decentralization Tradeoffs
00:31:35 – Centralized vs. Decentralized Chains & Security
00:33:51 – Stablecoins’ Role in Crypto Payments
00:35:25 – Bitcoin as Store of Value vs. Stablecoins as Medium of Exchange
00:36:26 – American Influence & “Never Spend Your Bitcoin” Narrative
00:38:47 – Bitcoin Spending Trends & Storage Habits
00:43:34 – Crypto Usage Beyond Bitcoin & Banking Systems
00:44:24 – Bitrefill’s Current Offerings & eSIM Growth
00:47:50 – Integration with Traditional Payment Networks
00:49:29 – Loss of libertarian ethos and Bitcoin community fragmentation.
00:51:41 – Support for Privacy Coins & Chain Selection
00:57:36 – Monero Usage on PPQ.AI & Regulatory Perceptions
01:00:01 – Liquid Bitcoin & Its Limited Adoption
01:05:16 – NFTs, Gambling, and Network Effects in Crypto
01:07:14 – Changing Narratives & Post-Rationalization
01:09:34 – Bitcoin’s Utopian Vision & Real-World Challenges
01:13:06 – Decentralization’s Gradual Growth & VPN Analogy
01:17:18 – PPQ AI: Naming, Features, and Privacy
01:22:03 – AI Model Variety & User Experience on PPQ AI
01:25:02 – Image & Video Generation with AI
01:27:22 – AI’s Impact on Employment & Content Creation
01:29:42 – AI, Automation, and Crypto Payments for Robots
01:34:02 – How PPQ.AI Handles User Data & Privacy
01:37:22 – Memory Features & User Profiling in AI
01:39:19 – Bitrefill’s Vision for the Future
01:40:29 – PPQ.AI’s Business Model & Growth
01:44:18 – PPQ.AI Model Access, Subscriptions, and Competitors
01:52:03 – PPQ.AI’s Elevator Pitch & Referral Program