Bitcoin Takeover Podcast

Vlad Costea
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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
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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
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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
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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
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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
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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
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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
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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.
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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
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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

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