

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

Dec 23, 2025 • 3h 21min
S16 E64: Alex Chepurnoy on Ergo & Bitcoin Smart Contracts
Alex Chepurnoy is a cryptographer & researcher who famously wrote a Bitcoin client in Haskell in only 3600 lines of code. He is currently working on Ergo, a proof of work blockchain which improves upon Bitcoin's design in order to achieve smart contracts and DeFi. How does it work? Let's find out!
Time stamps:
00:01:11 Introducing Alex Chepurnoy
00:01:51 Alex’s Bitcoin Discovery & Early Development
00:02:37 Namecoin, SmartContract.com, and Cardano Involvement
00:05:15 Satoshi Theories & Code Analysis
00:07:00 Rewriting Bitcoin & Distributed Systems Perspective
00:08:39 Consensus Protocols & Altcoin Proliferation
00:10:20 Bitcoin’s Early Appeal & Peer-to-Peer Motivation
00:14:08 Bitcoin’s Revolutionary Monetary Model
00:15:45 Staying in Crypto: Problems to Solve
00:17:19 Bitcoin as Digital Gold & Smart Contracts
00:21:29 Ethereum vs. Bitcoin: Contractual Capabilities
00:23:02 Ergo’s Approach: Contracts & Protocol Upgrades
00:26:56 Namecoin’s History & Technical Innovations
00:31:10 Merged Mining & Sidechain Politics
00:34:35 Early Bitcoin Contributions & BTC Scala Client
00:38:49 Conference Presentations & ZeroJoin
00:41:49 Demurrage, Storage Rent, and Bitcoin Upgrades
00:45:01 NFTs, Inscriptions, and Bitcoin Community Divisions
00:50:10 Hard Forks, Immutability, and Ethereum Classic
00:55:17 Markets, Transaction Fees, and Bitcoin’s Security Budget
00:57:59 Lightning Network Limitations & Off-Chain Cash
01:01:58 Challenging Bitcoin’s Scaling & Off-Chain Solutions
01:06:38 Ergo’s Protocol Design & Civil War Lessons
01:08:25 Ergo’s Innovations for Bitcoin
01:15:38 Quantum Resistance & Hard Fork Challenges
01:19:51 Consensus Cleanup & Upgrade Difficulties
01:23:10 Community Proposals & Development Gridlock
01:25:07 Alex’s Tech Stack & Personal Devices
01:31:07 Satoshi’s Identity & Coding Style
01:38:34 NXT, Bitcoin 2.0, and Ethereum’s Success
01:45:35 Proof of Work vs. Proof of Stake
01:50:44 Philosophy of Proof of Work & Fair Distribution
01:53:09 VCs, Token Dumps, and Proof of Work Revival
01:54:16 Proof of Stake Attacks & Network Resilience
01:59:20 Ergo’s Network Parameters & Smart Contracts
02:21:17 Privacy Features: Mixers & Stealth Addresses
02:28:40 Monetary Policy, Emission, and Pre-mine
02:34:09 Monero vs. Zcash: Community & Funding
02:48:03 Bridging Blockchains & Rosen Bridge
02:51:04 Peer-to-Peer Finance & Smart Contract Design
02:53:57 Future Vision: Interconnected PoW Blockchains
02:56:41 Double Merged Mining Sidechains
03:17:45 Community Resources & Getting Involved
03:20:11 Conclusion & Final Thoughts

Dec 19, 2025 • 2h 7min
S16 E63: David Bailey on NAKAMOTO, BTC Media & The Bull Market
David Bailey is the chairman of Bitcoin Magazine, the organizer of the most successful series of Bitcoin conferences, and the mastermind behind the Nakamoto BTC treasury company. In this episode, we talk about his latest business dealings and the current state of the Bitcoin bull market.
Time stamps:
00:01:47 Bitcoin Magazine’s Bitcoin-Only Pivot
00:02:17 Surviving 2018 and the COVID Pivot
00:04:09 Scaling Up: Conferences and Global Expansion
00:05:11 Bringing Politicians to Bitcoin
00:07:35 Trump’s Embrace of Bitcoin and Global Perception
00:09:48 Bitcoin Price Expectations and Political Impact
00:10:56 Presidential Pardons and the Lack of a Strategic Bitcoin Reserve
00:14:10 Trump Meme Coins and Industry Signals
00:17:07 Privacy, Regulation, and Privacy Acceleration Thanks to Zcash
00:20:53 Nakamoto Stock Price and Public Company Challenges
00:23:00 Bitcoin Treasury Companies: Purpose and Model
00:24:40 Evolution of Bitcoin Financialization (Banks, ETFs, Strategic Reserves, Reserve Companies)
00:35:42 David Bailey Addresses Accusations of Mismanagement
00:44:00 Bitcoin Price, Narratives, and Community Factions
00:45:05 Bullish Narratives and Breaking the Four-Year Cycle
00:46:21 Core vs. Knots: Development and Forks
00:49:35 Bitcoin Improvement Proposals and Development Stagnation
00:50:28 Jeremy Rubin in the Epstein Files, Bitcoin's Public Perception
00:54:01 Trump, Epstein, and Political Distractions
00:55:00 Bitcoin.com’s Shift and Roger Ver Reflections
01:01:48 BCH Fork, Losses, and Historical Lessons
01:02:41 Conspiracy Theories: Censorship and Satoshi’s Coins Post-Quantum
01:05:00 Quantum Risk and Bitcoin’s Long-Term Security
01:10:24 Altcoins: Legitimacy and Usefulness
01:18:11 Ethereum, Solana, and Bitcoin’s Competitive Edge
01:22:27 Bitcoin’s Youth and Historical Significance
01:22:58 Operation Choke Point 3.0 and Wall Street Resistance
01:30:20 Would David Bailey Become Crypto Czar?
01:34:04 Why Invest in Nakamoto?
01:37:28 Comparing Treasury Companies
01:40:28 If You Could Change One Thing in Bitcoin: Drivechains
01:42:03 Security Budget, Scaling, and Miner Incentives
01:46:50 Bitcoin Price Predictions and the Four-Year Cycle
01:55:02 Social Media, Narratives, and Bitcoin Culture
01:58:24 Bitcoin as Money and Regulatory Setbacks
02:03:13 Closing Thoughts and Pardons

Dec 17, 2025 • 2h 32min
S16 E62: Abdel's Updates on Starkware & ZK STARKs Adoption
Abdel is one of the most prolific developers in the Zero Knowledge space. Since our conversation in September, he was able to accomplish so much that he requested another interview to talk about it. So what happened with ZK STARKs that is so important?
Time stamps:
00:01:04 Podcast Introduction & Sponsor Acknowledgments
00:02:15 Vlad's Rant on Bitcoin Media & Podcast Landscape
00:03:24 Bitcoin Takeover Podcast Mission & Seven-Year Anniversary
00:04:39 Transition to Abdel’s Updates & ZK-STARKS
00:05:44 Abdel’s Zcash & Bitcoin Proposals
00:07:00 Comparing Bitcoin and Zcash Community Reactions
00:08:36 Altcoins as Experimentation Grounds
00:11:23 Scaling, Rollups, and Drivechains
00:13:10 Abdel’s Proposal for Native STARK Verification
00:17:19 Zcash’s TDE and Layer 2 Possibilities
00:19:22 ZK-Rollups, Privacy, and Regulatory Pressures
00:21:02 Government Surveillance & KYC Concerns
00:24:26 Cultural Stigma Around Bitcoin Privacy
00:25:34 Zcash’s SEC Presentation & Institutional Acceptance
00:28:58 Debate on Privacy, Transparency, and Backdoors
00:30:00 Bitcoin’s Social Layer & Governance
00:32:47 Critique of Bitcoin Perfectionism & Altcoin Dismissal
00:35:49 Bitcoin’s Mission: P2P Cash vs. Store of Value
00:36:49 Learning from Ethereum & Second-Layer Innovations
00:37:24 Sponsor Plugs & BTCfi Introduction
00:40:14 BTCfi: Bitcoin Staking & Yield Mechanisms
00:46:15 Bridging BTC to StarkNet & Atomic Swaps
00:48:36 BTCfi: KYC, Permissionless DeFi, and Institutional Offerings
00:50:59 DeFi Risks & Bitcoin Staking Security
00:51:40 ZK-STARK Verifiers on Bitcoin Cash
00:53:10 Bitcoin Cash, Zcash, and Social Layer Value
00:58:54 Bitcoin Cash’s Technical Innovations & Community Dynamics
01:00:04 Quantum Resistance: Investor Fears & Satoshi’s Coins
01:02:29 Quantum Threat Timeline & Migration Planning
01:10:25 Quantum-Resistant Signatures & Scalability Trade-offs
01:11:20 Hard Fork vs. Soft Fork for Quantum Resistance
01:13:08 Consensus, Confiscation Proposals, and Social Risks
01:17:56 Stagnation in Bitcoin Development & Altcoin Innovation
01:23:12 Ethereum’s Role in Crypto Ecosystem
01:25:24 Zcash’s Dual Incentives & Institutional Recognition
01:28:08 Zcash’s Future: Innovation vs. Ossification
01:30:39 Sponsor Plugs: Noones & SideShift
01:33:42 Quantum Resistance Migration: Hard Fork Efficiency
01:37:11 Bitcoin’s Future: Security, Consensus, and Upgrades
01:43:09 Bull Markets, Technological Breakthroughs, and Lightning
01:45:18 Lightning’s Shift to B2B & Retail Challenges
01:47:02 Bitcoin Treasury Companies & Business Models
01:49:18 Seinfeld Analogy & Bitcoin’s Societal Impact
01:52:11 Magic Wand: Abdel’s One Change for Bitcoin
01:54:03 Legitimate Altcoins & Project Criteria
01:57:16 Monero, Kaspa, Litecoin, and Altcoin Usefulness
02:02:06 ZK-STARKs: Complementary or Standard?
02:06:21 ZK-STARKs for Fast Bitcoin Syncing
02:10:27 Call for Wallet Integration & User Experience
02:14:08 Bull Bitcoin Wallet & Open Source Security
02:22:02 Freedom Tech, Nostr, and ZK for Sovereignty
02:26:02 ZK-STARKs: Career Opportunities & Verification
02:28:41 Outro & Listener Easter Egg

Dec 11, 2025 • 2h 41min
S16 E61: Alan Szepieniec on Privacy, Scaling & Quantum Resistance
Alan Szepieniec is a cryptographer & systems architect who specializes in Zero Knowledge proofs. He created Neptune Cash, a L1 network which combines ZK STARKs with Proof of Work in order to have a money system that's private, scalable & quantum resistant.
Time stamps:
00:00:00 Intro & Sponsors
00:02:30 Welcome Alan Szepieniec
00:03:02 Alan's Background in Cryptography & Libertarianism
00:05:15 Path to Bitcoin & Privacy Disillusionment
00:07:30 Privacy as Essential for Fungible Money
00:09:44 Network-Level Privacy & Censorship Resistance
00:12:15 Debate on Privacy Improvements in Bitcoin
00:14:01 Scalability Trade-offs with Recursive ZK Proofs
00:17:26 Lightning Network Privacy Limitations
00:22:39 Lightning's Potential for High-Frequency Trading
00:26:41 Custodial Risks & ZK-Proven Custodians
00:31:21 Sponsor: Unstoppable Wallet
00:33:17 Sponsor: Sideshift.ai
00:34:20 ZK-STARKs Explained & vs ZK-SNARKs
00:36:12 Quantum Resistance & Transparent Setup
00:41:56 Drivechains (BIP 300) & STARK Integration Potential
00:44:58 OP_CAT vs Custom Opcodes for STARK Verification
00:49:46 Why Coinjoins Aren't Sufficient for Privacy
00:56:27 Lightning's Unique Privacy Properties
00:56:50 Halo 2 & Removing Trusted Setup from SNARKs
00:58:44 Zcash L2 on Starknet
01:00:26 Why ZK-STARKs on Layer 1
01:03:20 Neptune Cash: Privacy, Scalability & Smart Contracts
01:07:33 Custom STARK Engine & Assembler Language
01:09:09 Proof-of-Work Design & GPU Mining
01:14:08 Inflation Bug & Network Relaunch
01:17:13 Decentralization Roadmap
01:19:00 Current Drawbacks: UX & Proof Generation
01:22:39 Node & Transaction Hardware Requirements
01:29:36 Quantum Computing Threats Discussion
01:33:01 Satoshi's Coins & Quantum Risks
01:36:38 Store of Value vs Medium of Exchange
01:43:13 Regulations Hurting Adoption
01:45:40 Monero Talk & Signatureless Transactions
01:47:58 Monero vs Bitcoin Communities
01:54:06 Adding Lightning Network to Neptune Cash
01:55:06 Lightning Network & Atomic Swaps Potential
01:56:48 Removing Centralized Exchanges via Bridges
01:57:17 Neptune Cash Lightning Network Plans
01:58:36 Prioritizing Faster Proving & Smart Contracts
02:00:36 Rapid Fire: Max Supply (40.5M after burn)
02:01:24 Block Time (9.8 minutes) & Difficulty Adjustment
02:01:56 Block Size (8 MB limit)
02:02:21 Elevator Pitch for Neptune Cash
02:03:17 Sidechain/Drivechain/Rollup on Bitcoin?
02:04:33 Privacy Comparison: Neptune vs Zcash vs Monero
02:05:38 Mutator Set vs Nullifier Set Explained
02:06:48 Privacy Ratings (Zcash 8/10, Monero 9/10 future, Neptune 6-7/10 + scalability bonus)
02:09:18 Scaling Ratings (Bitcoin 9/10, Neptune 8/10 future, Zcash/Monero 6/10)
02:12:24 Price Movement During Interview & Shitcoin Debate
02:14:54 Premine vs Fair Launch Discussion
02:17:35 Ethereum Premine Success & Grin vs Beam
02:19:10 Zcash Dev Fund Model
02:22:17 Building Circular Economies & Network Effects
02:27:04 Could Bitcoin Become Like Neptune Cash?
02:30:44 Connection Issues & Wrap-Up
02:33:05 Legacy UTXOs & Quantum Vulnerability
02:35:09 Where to Follow Neptune Cash & Alan
02:37:09 Is Satoshi an AI/Time Traveler?
02:38:46 Final Thanks & Goodbye

Nov 24, 2025 • 3h 12min
S16 E60: Jonathan Bier on Bitcoin Civil Wars & BitMEX Research
Jonathan Bier is the author of the influential best-seller "The Blocksize War: The battle over who controls Bitcoin’s protocol rules", as well as one of the most prolific and respected researchers in Bitcoin. He is also an active investor who sits on various company boards and advises projects in the space.
In this episode, we talk about parallels between the Bitcoin scaling debate and the filter wars, but also highlight some debunked Satoshi Nakamoto claims.
Time stamps:
00:01:11 - Introducing Jonathan Bier and Blocksize War Book
00:02:44 - Meeting BitMEX Founders and Starting Research
00:05:31 - Arthur Hayes' Blog Writing and Vision
00:07:32 - BitMEX Success: Leverage, Perpetual Swaps, Troll Box
00:10:43 - FTX Copying BitMEX and Backend Issues
00:11:20 - Binance's Rise and Market Dominance
00:13:49 - BitMEX's Slow Adoption of Stablecoins
00:16:39 - Current BitMEX Volumes and Rankings
00:17:39 - History of Bitcoin Derivatives and Innovations
00:23:49 - Jonathan's First Bitcoin Encounter in 2010
00:26:12 - 2011 Bubble and Mt. Gox Scandal
00:28:02 - Views on Bitcoin Bubbles and Valuations
00:30:19 - Ad: Bitcoin.com News
00:31:00 - Layer 2 Labs Question: Is Lightning a Waste?
00:32:08 - Lightning Network Success and Limitations
00:35:02 - Scaling Challenges and Sidechains
00:37:30 - Current Filter Wars and Ordinals/Inscriptions
00:39:40 - History of Relay Policies and RBF
00:43:49 - OP_RETURN Limits and Debates
00:47:04 - Bitnod.es Website and Node Peers
00:48:39 - Ineffectiveness of Filters
00:50:00 - Super TestNet's Bandwidth Argument
00:51:42 - Generational Crusades in Bitcoin
01:01:55 - London Meetup Stories and Fanaticism
01:15:00 - Loss of Merchants Post-Blocksize War
01:18:13 - Ethereum Benefiting from Bitcoin Decisions
01:18:48 - 2014 OP_RETURN Wars and Counterparty
01:23:03 - Reasons Counterparty Failed
01:27:31 - Mastercoin, First ICO, and Omni/Tether
01:29:37 - Zcash Launch and BitMEX Futures Shenanigans
01:33:26 - Ethereum DevCon 2016 Attack Story
01:35:04 - Conferences Then vs Now
01:38:00 - Cultural Divide in Bitcoin Maxis
01:39:46 - Misconceptions About Bitcoin Core Developers
01:43:25 - Youth of Early Developers Like Tamas
01:46:59 - Criteria for Developers and Unicorn Myth
01:48:41 - Educators in Bitcoin History: From Satoshi to Saylor
01:52:05 - Dumbing Down of Bitcoin Narratives
01:55:34 - Past Idiocy and Learning Curves
01:56:50 - BIP 444 Dangers and Ineffectiveness
02:00:59 - Irony of Anti-Spam Fork and Spam Magnets
02:01:22 - Parallels to Blocksize Wars, Bitcoin Cash Price Peaks
02:03:30 - Excitement and Fear During BCH Surge
02:04:28 - Reasons Big Blockers Couldn't Compete, Craig Wright's Role
02:05:16 - Satoshi's Response to Scaling Concerns (2008)
02:06:05 - Jeff Garzik's Early Block Size Proposal (2010)
02:07:33 - Early Onchain Exchanges and Scaling Realization
02:07:58 - Defining Small Blocker vs Big Blocker
02:08:56 - Surplus Capacity in Blocks Debate
02:10:10 - Cultural Biases: Technical vs Business Sides
02:11:32 - Competent Developers on BCH Side, Inflation Bug
02:12:35 - Block Size Numbers Not the Core Issue
02:13:29 - Modern Block Size Increase Justification
02:14:15 - Hard Forks Unlikely, Quantum Signatures
02:15:03 - James O'Beirne's Block Size Presentation
02:15:54 - Filter Wars Impact on Future Changes
02:17:13 - Spam as Reason Against Block Size Increase
02:18:18 - Quantum Safe Spending Proposal
02:19:31 - Fee Market vs Crusades Against Spam
02:20:45 - Craig Wright's Unintentional Help to Small Blockers
02:22:04 - Jihan Wu's Dislike of Craig Wright
02:23:34 - ASIC Boost Role in BCH Creation
02:24:50 - Covert vs Overt ASIC Boost Explained
02:30:00 - Treasuries and MicroStrategy Debt Structures
02:35:00 - Bitcoin Treasuries vs Ponzi Schemes
02:40:00 - Balancing Professional Life and Cypherpunk Roots
02:42:31 - Advisor Roles: Bitwise, Brink, Maelstrom
02:53:16 - Privacy Tools: Payjoin, Silent Payments, CoinJoin
02:54:41 - Ethereum vs Bitcoin on Privacy Support
02:55:45 - Ross Ulbricht Pardon and Government Misconduct
03:00:13 - Curtis Green's Torture and Fake Death
03:03:00 - Aaron Swartz Comparison
03:04:29 - Cypherpunk Culture Not Scaling
03:05:53 - ETFs as Bitcoin Scaling Layer
03:07:39 - IBIT vs WBTC Similarities
03:09:00 - Three Legit Altcoins: Monero, Dogecoin, Litecoin
03:10:02 - Satoshi's Views on Block Sizes
03:11:02 - Closing and Follow Jonathan Bier

Nov 14, 2025 • 5h 5min
S16 E59: Curtis Green on Bitcoin, Silk Road & Forgiveness
Curtis Green, better knows by OG bitcoiners as "Chronicpain" or "Flush", is a former forum moderator and website administrator of the Silk Road internet marketplace. He is a man who has mined bitcoin early enough to get scammed by Butterfly Labs, and was allegedly also the target of a bounty on assassination markets.
He's seen all eras of Bitcoin, and today he seeks to get pardoned by the Trump administration. He will accept donations from community members in order to get the legal help he needs.
Read Curtis Green's book, "Silk Road Takedown": https://www.amazon.com/dp/1729436889
Donate to Curtis Green: https://www.satlantis.io/events/1210/Evening-with-OG-Curtis-Green%2C-admin-of-The-Silk-Road
Time stamps:
00:01:18 Welcome Curtis Green, Silk Road OG
00:02:06 Seeking Clemency, Focus Shift from Ross
00:04:02 Misnomers, Site Rules & Govt Narrative
00:07:27 Bitcoin Skepticism, Forum Learning
00:11:02 PGP/Key Lessons
00:13:04 Harm Reduction Suggestion, Forum Admin
00:15:23 Freedom Emphasis, Site Growth Post-Schumer
00:17:00 Bitcoin as Freedom Tool
00:21:36 Verify Mindset
00:22:59 Mining & Gifting BTC, Family Rejection
00:26:01 Price Doubts, Ethereum Shift
00:29:02 Arrest Warning
00:33:40 Mining Fun
00:36:02 When Schumer Promoted Silk Road
00:38:17 Arrest Story, Corrupt Agents
00:39:55 BTC Theft by Shaun ridges
00:43:04 Faked Torture, Murder Threat
00:45:04 Playing Dead for 10 Months
00:48:03 Narrative Control, Cash Seizure
00:51:21 Limited DPR Info, Accusations
00:53:28 Site Takedown, Personal Hell
00:55:00 Family Struggles, Entrepreneurship
00:57:12 Book & Documentary Distortions
00:59:45 Corrupt Agents' Trials
01:02:30 Force's Extortion Attempts
01:05:15 Bridges' Theft Details
01:07:50 Sentencing, No Prison
01:10:20 Clemency Petition
01:13:45 Bitcoin Evolution Reflections
01:16:10 Mining Zcash, Privacy Views
01:19:30 Early Bitcoin Doubts
01:22:45 Forum Discussions, Community
01:25:00 Harm Reduction Impact
01:27:30 Global Revolution Hopes
01:32:03 Consensus & Debates
01:34:02 Aha Moments
01:39:01 Narrative Shaping Power
01:41:23 Life Experiences Gratitude
01:43:37 Speaking Out, Misjudgments
01:45:03 Educating on Crypto Choices
01:46:00 Future Optimism
01:47:32 Educators like Antonopoulos
01:49:52 Community Support Moments
01:52:07 Bitcoin Changes Narrative
01:53:02 Lightning Node Experience
01:55:55 Lightning Hopes & Issues
01:57:05 Wrapped BTC Concerns
01:59:14 WBTC on Ethereum Popularity
02:00:14 Block Size Debates
02:02:07 Satoshi's Scaling Views
02:04:33 Lightning Limitations
02:06:00 Scaling Consensus Challenges
02:08:44 Roger Ver's Unity Point
02:10:10 Early Empty Blocks
02:12:04 Zcash Proposal for Bitcoin
02:14:03 Sponsors: NoOnes & SideShift
02:16:42 ShapeShift Confusion
02:18:00 Tunnel Vision on BTC Amounts
02:18:07 Bitcoin Changes & Consensus Hopes
02:18:30 ETFs Caution, Mainstream Adoption
02:19:33 Peer-to-Peer Origins, Early Exchanges
02:20:05 Postal Money Orders for BTC
02:21:02 Alpaca Socks & Honey Purchases
02:21:49 Early BTC Buys, Galaxy Tab Scam
02:23:15 BTC as Tool, Not Dollars
02:24:01 Holding vs Spending
02:26:00 Early Satoshi Discussions
02:27:27 Adoption Decline Rant
02:28:22 BTC Scarcity & Usage
02:29:03 Layer 2 Hopes, Wife's Worries
02:30:05 Mining Challenges Over Time
02:31:03 Still Early in Bitcoin?
02:32:25 Satoshi's Blueprint, Competition
02:33:30 First Bitcoin Encounter
02:34:51 Silk Road Catalyst for BTC
02:35:25 Rabbit Hole Journey
02:36:31 Govt Op Doubts Nixed
02:37:02 Aha Moment in 2012
02:38:00 Grateful for Silk Road Lessons
02:39:02 Bad Rap Focus on Drugs
02:40:47 Pinnacle in BTC History
02:41:29 Speaking Out & Education
02:42:03 DPR's Clean Water Ideas
02:43:00 Zcash Mining Hype & Launch Supply Dynamics
02:45:01 Keeping ZEC, Mining Costs
02:46:09 Buying vs Mining Regrets
02:47:11 Hindsight on Holding
02:48:31 ASIC Delivery Post-Arrest
02:49:03 Keeping Quiet on Miners
02:50:07 Side Stories Justification
02:51:03 Mentality Shifts
02:52:17 Hopes for Bitcoin Win
02:53:01 Cultural vs Technical Issues
02:53:46 SegWit & Taproot Changes
02:55:38 Privacy Proposals
02:57:01 Developer Frustrations
02:58:04 Greed & Humanity Balance
02:59:20 Year-by-Year Changes
03:00:04 ETF as Scaling Layer
03:02:05 High Hopes & 21M Cap Worries
03:03:05 Verification Defeat
04:03:30 Genesis Block & Bailouts
04:04:03 Fractional Reserves Drop
04:04:38 ETF Trust Issues
04:04:52 Proof of Keys Celebration
04:05:55 Back to Banks Cycle
04:06:07 Lightning Custodial Wallets & Centralization
04:14:02 Start9 & Braiins BMM Miner
04:18:02 Home Miners Appeal
04:49:44 Guilty Plea Frustrations
04:51:18 AlphaBay Documentary & Monero Adoption
04:52:48 Dark Web Warnings
04:55:32 Trusted Escrows
04:56:47 Bitcoin Talk Scams
04:57:13 Satlantis Donations & Adopting Bitcoin Talk

Nov 12, 2025 • 2h 41min
S16 E58: Leona Hioki on INTMAX, ZK Rollups & Privacy
Leona Hioki is the CEO, co-founder & architect of INTMAX: a ZK rollup layer 2 that focuses on private payments, scalability, and low fees. In this episode, we talk about scaling & privacy tech for Bitcoin & what we can learn from Ethereum.
Time stamps:
00:01:17 -Introducing Leona
00:02:47 - Leona Hioki's Background
00:03:38 - Discussion on Past Podcasts and Zcash Pump Dance
00:05:00 - Privacy Trends in Crypto
00:05:26 - INTMAX Overview: Privacy, Scalability, Trade-offs
00:05:44 - Client-Side Validation and ZKP in INTMAX
00:08:22 - Comparison to Zcash and RGB
00:08:46 - INTMAX on Ethereum and Potential Bitcoin Integration
00:11:02 - INTMAX vs. StarkWare
00:14:15 - Stateless vs. Stateful Systems
00:15:05 - Evolution from Plasma to INTMAX
00:18:56 - Similarities to Lightning Network
00:19:47 - Market Dynamics of Ethereum L2s
00:20:25 - ZK Rollups vs. Optimistic Rollups
00:24:45 - Fragmentation in Ethereum L2 Ecosystem
00:26:19 - Role of Money and Base Outage Concerns
00:28:03 - Trade-offs in Decentralization
00:29:34 - Differences Between Rollups and Sidechains
00:32:42 - Bitcoin Script Limitations and ZKP Verification
00:35:18 - Cultural Issues in Bitcoin Upgrades
00:36:56 - Miner Revenue and Drivechains
00:41:58 - Bitcoin in Japan and Satoshi's Name
00:43:24 - Speculation on Satoshi's Identity
00:44:48 - Early Bitcoin Community in Japan
00:45:28 - Post-2018 Regulations in Japan
00:48:37 - Moving to Switzerland for Privacy Projects
00:50:55 - Amir Taaki's Experiences
00:52:37 - Japanese Society and Libertarianism
00:56:30 - Cryptography History and Crypto Wars
01:00:22 - Podcast Milestone and Hardware Wallets
01:02:38 - Trezor Safe 5 and Quantum Resistance
01:05:58 - Quantum Computing and Privacy Risks
01:08:06 - UTXO Model and Bitcoin's Design
01:09:48 - Satoshi's Intentions and Op Codes
01:11:57 - Bitcoin as Money Network, Not Just Digital Gold
01:14:21 - Monolithic vs. Modular Blockchains
01:17:07 - Drivechains and BIP Proposals
01:20:58 - Stateless Clients for Drivechains
01:24:23 - Zcash's Potential and Comparisons to Monero
01:27:52 - Future Scenarios for Zcash
01:30:57 - Zcash vs. Monero Market Focus
01:33:39 - Client-Side Validation for Zcash
01:36:27 - Interactions with Zooko Wilcox
01:39:47 - Proof of Work vs. Proof of Stake
01:46:16 - Fairness in Proof of Work
01:47:17 - Home Mining Devices
01:51:53 - Decentralizing Mining
01:53:05 - AML in INTMAX Privacy Mining
01:56:34 - Confidential Layers and Bridges
01:57:59 - Proof of Innocence in Privacy
02:00:04 - Replacing Centralized Exchanges with DEXs
02:00:48 - Uniswap and Decentralized Fiat Onramps
02:00:44 - Narrative on Zcash vs Monero Exchange Listings
02:01:04 - Zcash Listings on Major Exchanges
02:01:55 - Monero Listings and Volume
02:03:26 - Ranking of Exchanges
02:05:00 - Alternative Ways to Buy Monero
02:05:31 - Flashshift App for Swaps
02:06:34 - Zcash Support in Flashshift
02:07:15 - Zashi Wallet Features
02:08:00 - Planning Privacy Vampires Conference in Romania
02:09:58 - Vampires and Privacy Analogy
02:11:06 - Challenges of Privacy Conferences
02:12:22 - Interest in Visiting Romania and Japan
02:13:21 - Japan Recommendations and Metaplanet
02:14:15 - Japan vs Switzerland Bitcoin Culture
02:17:18 - Personal Story with Bitcoin
02:19:49 - Reactions to Bitcoin and Ethereum
02:22:27 - Bitcoin vs Ethereum Purposes
02:23:10 - Coin Distribution and Fairness
02:26:49 - Perfect System for Fairness
02:28:03 - Proof of Work Fairness
02:29:02 - Grin Fair Launch Example
02:31:07 - Premines and Dev Taxes
02:32:58 - Spreadsheet Coins and Competition
02:33:05 - Ethereum ICO Success
02:35:28 - Ethereum Competitors' Impact
02:36:50 - Zcash Dev Tax Benefits
02:38:20 - Issues with Scams in Premines
02:39:22 - Value of Experimentation
02:39:38 - Closing Remarks and Follows
02:40:55 - Thanks and Sponsors

Nov 10, 2025 • 54min
S16 E57: Trezor Safe 7 Setup with Matej Zak & Tomáš Sušánka
Recently, Trezor unveiled the Safe 7: the first hardware wallet in the world to include the Tropic Square verifiable secure element chip, a true game-changer for Bitcoin security. In this episode, Matej Zak & Tomáš Sušánka explain how it works.
Buy your Trezor Safe 7 (referral link): https://affil.trezor.io/SHuM
Time stamps:
00:01:13 - Introduction to the podcast episode and guests (Matej Zak, CEO, and Tomáš Sušánka, CTO of Trezor).
00:01:34 - Discussion of the Trezor Safe 7 product launch event in Prague and the host's excitement about the Tropic Square chip.
00:01:55 - Mention of the live unboxing and potential for things to go wrong.
00:02:17 - Addressing rumors about paying influencers; clarification that no payments were made, only travel costs covered.
00:03:11 - Start of unboxing the Trezor Safe 7, focusing on packaging security and tamper-proof elements.
00:04:31 - Overview of Trezor Safe 7 features: flagship product, auditable secure element, large color touchscreen, premium build quality, Bluetooth connectivity, and quantum protections.
00:07:20 - Explanation of "quantum ready" label: Post-quantum signatures for bootloader updates and device authenticity, not full quantum-proofing for Bitcoin.
00:09:00 - Deeper dive into quantum readiness, industry trends (e.g., Cloudflare, Apple), and why it's not a gimmick.
00:12:51 - Continuation of unboxing: Tamper-proof seals, holographic stickers, and physical security layers.
00:14:18 - Confirmation that devices ship without firmware; installation happens via Trezor Suite for added security.
00:15:26 - Setup process on iPhone: Downloading the app, Bluetooth pairing, and why iPhone compatibility was prioritized.
00:16:10 - Market insights: US as the biggest market, challenges with Apple (MFi program), and opting for Bluetooth over cables.
00:18:30 - Ads segment (Sideshift.ai, Layer 2 Labs, NoOnes.com, news.bitcoin.com).
00:20:13 - Resuming app setup: Privacy options, biometrics, Bluetooth permissions, and pairing code.
00:21:42 - Counting physical security layers (five in total) and their purpose.
00:23:07 - Authenticity checks in the app: Confirming purchase source, seals, and packaging integrity.
00:24:09 - Firmware installation process and confirmation that devices ship with only bootloader.
00:25:05 - Discussion of dual secure elements (Tropic Square T01 and Infineon Optiga Trust M) for enhanced security.
00:26:01 - Bluetooth security: End-to-end encryption using Noise protocol.
00:27:04 - Haptic feedback and one-time code for pairing confirmation.
00:28:00 - Device authenticity verification via secure elements.
00:29:39 - More on quantum readiness: Post-quantum certificates for future implementation.
00:30:23 - Tutorial walkthrough: Power button, menu options, and Tropic Square chip explanation.
00:30:59 - Background on Tropic Square: Origin story, name meaning (Truly Open IC), and founding to create auditable secure elements.
00:32:06 - Experience with proprietary secure elements: Discovering vulnerabilities under NDA and deciding to develop an open alternative.
00:34:25 - Why Tropic Square chip is described as "auditable and transparent" rather than fully "open source" (digital parts open, analog parts not yet due to costs; no NDAs required).
00:37:18 - Advantages of Tropic Square for competitors: Better security, transparency, and ability to discuss vulnerabilities openly.
00:38:46 - Competition philosophy: Focus on features, software, third-party integrations, and innovation rather than aggressive tactics.
00:40:29 - Bitcoin-only version mention and pre-order availability.
00:41:26 - Completion of setup tutorial; default 20-word SLIP-39 backup with options for multi-share.
00:43:41 - Metrics for setup experience: Emphasis on user understanding over speed.
00:45:32 - Compatibility with BIP-44 for multi-asset support; differences limited to SLIP-39 replacing BIP-39.
00:47:09 - Status as production-quality device; shipping soon, with room for early feedback.
00:49:19 - Audience questions: Ordering in Southeast Asia (via trezor.io or vetted resellers).
00:50:35 - Audience questions: Coin control in mobile app (planned for parity with desktop in a few months).
00:51:29 - Audience questions: Shielded Zcash support (on backlog, no ETA; space issues resolved but requires further cryptography work).
00:53:18 - Pricing ($250) and pre-order info.
00:53:43 - Closing remarks: Pride in the product, future features, and thanks.

Nov 8, 2025 • 2h 60min
S16 E56: Super Testnet on Papa Swaps, BIP 444 & Prediction Markets
Recently, Super Testnet built Papa swaps: a novel & optimistic way of doing atomic swaps on Bitcoin. In this episode, he talks about his new projects, why he is in favor of filtering the mempool + BIP 444 activation, and prediction markets.
Time stamps:
00:01:28 - Intro: Super Testnet's Return to the Bitcoin Takeover Podcast
00:03:03 - Lightning Privacy Wars: Recapping Super's Monero Challenge & Layer 2 Debates
00:03:43 - Papa Swaps Unleashed: Super's Lightning-Fast Innovation Explained
00:04:57 - Submarine Swaps 101: From Layer 1 to Layer 2 in a Flash
00:06:04 - Phoenix Wallet Magic: Splicing vs. Submarine Swaps – Why Capacity Matters
00:07:55 - Birth of Papa Swaps: From Mexico Chats to Single-Transaction Breakthrough
00:09:19 - Why "Papa"? The Hilarious Submarine Speed Pun Behind the Name
00:10:23 - Hedgehog Protocol Update: When Will It Launch? (Spoiler: Probably Never)
00:12:00 - Hedgehog's Fate & Super's Conference Show-and-Tells
00:12:47 - Papa Swaps Deep Dive: Relative Time Locks & Happy vs. Sad Paths
00:14:47 - How Papa Swaps Work: Secrets, HTLCs, & Atomic Swaps Simplified
00:18:33 - Risks & Tradeoffs: Double Spends, RBF, & Trust in Small Transactions
00:21:02 - Block Space Savings: Papa Swaps vs. Boltz, Moon Wallet, & Lightning Loop
00:22:29 - Papa Swaps' Edge in a Crowded Layer 2 World
00:23:29 - Sidechain Shoutouts: Citrea, Alpen, & Scaling Debates Revisited
00:24:32 - Papa Swaps Today: Proof-of-Concept, Mainnet Risks, & Wallet Adoption
00:27:02 - Will Phoenix & Breeze Integrate Papa or Hedgehog?
00:28:47 - Boltz Exchange Scoop: CEO Kilian Rausch & Co-Founder Michael
00:29:35 - Lightning History: Joule, Bottle Pay, & Nostr Wallet Connect Ideas
00:33:06 - Ad Break: Layer 2 Labs' Drivechains
00:34:57 - Sideshift.ai: Swap Stables for BTC
00:37:10 - BIP 444 Drama
00:38:18 - Spam Filters Work for Bandwidth Savings
00:39:32 - Miners' Risks: Orphan Blocks & 50% Filter Adoption Scenarios
00:42:44 - Mempool Art: Portland Hodl's Block Painting Software & Mara Pool Deals
00:44:28 - Spam Defined: Extra Data vs. Permissionless Purity Debate
00:48:21 - BitVM Dreams: Catching Pikachu on Bitcoin Without Spam
00:50:29 - Citrea & Alpen: BitVM 2/3, ZK Proofs, & Data Availability Concerns
00:52:55 - Citrea Marketing Myths: Inscriptions Over OP_RETURN in Launch
00:53:29 - OP_RETURN vs. Inscriptions: Base Space Scarcity & Pruning Debates
00:56:35 - BIP 444 Breakdown: Temporary Spam Ban & Consensus Changes
01:00:06 - Legal Slippery Slope? OFAC Lists, Sanctions, & Permissionless Fears
01:02:05 - BIP 444 Odds & Details
01:07:15 - Inscriptions as Anchors: Layer 2 Onboarding or Hidden Spam?
01:10:26 - OP_RETURN Drama: V30 Update vs Filters
01:13:31 - Community Toxicity: "Knotzis," "Coretards," & Ad Hominem Fallacies
01:16:40 - Pleb Slop & Purity Quests: Dogma vs. Base Layer Privacy Push
01:20:01 - Spam Doesn't Pay Node Runners – Miners Only
01:21:42 - Pro-Choice Nodes: Custom Policies, Wizards, & Hackathon Ideas
01:25:18 - Windows Wizards & Idea Generation: Super's Creative Process
01:26:24 - Ad Break: Bitcoin.com News – Balanced Global Crypto Coverage
01:27:28 - NoOnes: Ray Youssef's P2P Marketplace for the Global South
01:29:57 - Chat Q&A: Money Transmitters, Legal Fears, & Miner Roles
01:34:00 - Spark Wallet Exposed: Privacy Leaks & Statechain Explorer Risks
01:35:31 - Mercury Wallet Nod: Statechains' Real-World Usage Milestone
01:35:31 - Statechains' Demand: Spark's Success vs. Mercury's Shutdown
01:36:05 - Blinded Servers: Hiding Balances & History in Statechains
01:37:20 - Privacy Mitigations: IP Hiding, VPNs, & Avoiding Key Reuse
01:38:43 - Spark Improvements: CoinJoins & Future Privacy Features
01:40:27 - GDPR Compliance: Bull Bitcoin's CoinJoins & Legal Privacy Push
01:41:57 - Nostr Frustrations: Searching Old Posts Sucks
01:42:58 - ARCash DExplained
01:48:31 - Spam Subjectivity & Consensus Rules Debate
01:51:08 - Objective vs. Subjective: Mempool Policies as Good Rules
01:53:10 - No Hard Fork: BIP 444's Low Adoption & Hash Rate Doubts
01:54:41 - Cultural Conflicts: Ossified Bitcoin & Soft Fork Stalls
01:55:26 - Influencer Consensus
02:37:56 - Bitcoin Prediction Markets: Non-Interactive DLCs & Proxies
02:38:41 - Poly Market UX: Early Exits & Position Transfers
02:40:03 - PSBT Auctions: Non-Interactive Sales Explained
02:41:48 - Agias Protocol: Native Bitcoin Prediction Markets
02:43:03 - Paul Sztorc Story
02:44:19 - Oracle Problem
02:45:48 - Hivemind Insights
02:46:57 - Build Agias
02:48:39 - Predix Collaboration
02:49:16 - Favorite Thinkers: Robin Linus, Liam Eagen
02:50:24 - BitVM's BSV Origins
02:52:52 - Turing Completeness & Craig Wright
02:54:58 - BitVM Evolution
02:55:24 - 2010 Spam Debates with Satoshi & OGs
02:56:52 - Block Size Wars vs. Current Fights
02:57:28 - Nostr Threads with Aaron van Wirdum
02:58:01 - Follow Super: Supertestnet.org
02:59:03 - Infighting Fuels Ethereum & Zcash Growth
02:59:29 - Outro: Thanks to Sponsors & Farewell

Nov 4, 2025 • 1h 30min
S16 E55: Mert Mumtaz on Zcash, Privacy & Zillions
Mert Mumtaz is the man of the hour: the Zcash bull who successfully popularized privacy in DeFi, and one of the architects behind the spectacular price action we've seen in the month of "ZECtober".
In this episode, we talk about the meaning of privacy, why Zcash plays a leading role in this new paradigm, and what "zillions" really means.
Time stamps:
00:01:25 - Zcash's Encrypted Messaging Magic: Scan QR for Questions!
00:02:37 - Mert's Zcash Origin Story: From Solana Scaling to Privacy Powerhouse
00:03:52 - Diving into Project Tachyon: Scaling Zcash with Solana Insights
00:04:03 - Untapped Potential: Why Zcash's Story Needs a Epic Rewrite
00:04:40 - Paid Shill Myths Busted: Mert's Honest Zcash Journey Exposed
00:06:20 - VC Conspiracies & Israel Coin Nonsense: Salty Narratives Debunked
00:07:56 - Monero vs Zcash Tribalism: Why Privacy Coins Should Unite
00:09:04 - Privacy as the Ultimate PVE: Battling Surveillance States
00:10:31 - EU CBDC Nightmare: Digital Euros Tracking Your Every Move
00:13:03 - Individual Liberty Through Crypto: Privacy Isn't About Hiding Crimes
00:14:15 - Mert's Bitcoin Discovery: From Uni Skeptic to Crypto Convert
00:17:02 - Bitcoin's Simplicity Wins: Why It Outshines Programmable Chains
00:19:16 - Elevating Zcash to Push Bitcoin Privacy Upgrades
00:19:42 - Cypherpunk vs Austrian: Choose Your Crypto Philosophy
00:22:06 - Mert's Self-View: Builder, Storyteller, No Labels Needed
00:23:02 - Solana Triple-Digit Glory & Zcash Meme Mastery Unleashed
00:24:41 - Engineering Meets Memes: Richard Feynman Vibes in Crypto
00:25:12 - Tweet Chaos: From Shalom Sign-Offs to Zillions Mania
00:25:49 - Zideline, ZECtober, Zovember: Z-Prefix Memes Taking Over
00:26:51 - Pushing Zcash into DeFi: Bridges, Liquidity, and Game-Changing Integrations
00:28:38 - Solana for Offense, Zcash for Defense: The Ultimate Barbell Strategy
00:30:41 - Solana vs Ethereum: Sci-Fi Computer vs Multi-Role Juggernaut
00:33:21 - Ads Shoutout: SideShift.ai & Layer2 Labs Drivechain Magic
00:35:52 - Solana's UX Edge: Why Memecoin Mania Thrives Here
00:38:00 - Vitalik's Node Critique: Solana's Verification Smarts Revealed
00:40:33 - Why Zcash Rocks: Encrypted, Unruggable Internet Money
00:42:10 - Pitching Zcash to Noobs: Private Digital Gold Unlocked
00:45:32 - Bitcoin as HTTP, Zcash as HTTPS: Killer Privacy Memes
00:46:52 - Noah's Ark Fork: Shielding Bitcoin's UTXO Set on Zcash
00:48:25 - Bitcoin's Toxic Shift: From Revolution to Rent-Seeking Stock
00:51:22 - Zcash's Revival: Outperforming Bitcoin with Privacy Power
00:53:00 - Day One for Zcash: Cypherpunk Hackathon & Future Builds
00:54:28 - Zcash Dance Tease: Hitting $400 Milestone Vibes
00:55:04 - Shielded Q&A: Rare Pepe on Zcash? Merchant Adoption Tips
00:59:03 - Ads Plug: NoOnes.com & Bitcoin.com News for Global Crypto Wins
01:02:29 - Privacy on Solana: MPC Wallets & Yield-Earning Mixers
01:03:35 - Monero's 51% Attack Impact: Zcash Pump Unaffected
01:04:44 - P2P Zcash Markets: Hackathon Idea Gold
01:05:45 - Flipping Cardano & XRP: Zcash's Tech Triumph Incoming
01:07:24 - Uber Driver Sell Signals: Crypto Folklore Debunked
01:08:13 - XRP Vendetta: Lobbyists vs Engineers Showdown
01:10:43 - Zcash Price to Flip XRP: 23x Moonshot to $9K
01:11:37 - Proof-of-Stake Debate: Stick to PoW for Zcash's Core Strength
01:14:11 - Zashi Wallet Praise: UX Masterclass in Privacy
01:15:22 - AI Payments with Zcash: Nano-GPT & Browser Wallet Woes
01:16:23 - Zcash as Global Privacy Hub: Cross-Chain Vault Vision
01:18:19 - Fast Finality Fixes: PoW Tweaks Over PoS Risks
01:19:19 - DAG Chains Like IOTA & Kaspa: Interesting But Test Elsewhere
01:21:09 - Helios Labs Lowdown: Solana's RPC Powerhouse CEO Life
01:23:55 - Zillions Decoded: Crypto's Trillion-Dollar Destiny Call
01:25:03 - Zcash ATH Hunt: Long-Term Bullish Beyond $4K Peaks
01:26:07 - Final Q&A: Dictator Memes? Onboarding Feedback & Top 5 Coins
01:28:18 - Future Top 5: Bitcoin, Solana, Zcash, Hyperliquid, ETH Dominance
01:29:01 - Zcash's Cursed History to Glory: 9 Years of Resilience
01:29:37 - Closing Call: Build, Advocate, Hack for Cypherpunk Wins


