What Bitcoin Did

Brandon Black is a Bitcoin software engineer. In this episode we discuss why quantum computing is unlikely to threaten Bitcoin in the foreseeable future, how exaggerated claims around qubit scaling and Shor’s algorithm distort the real risk, what concrete evidence would actually force Bitcoin to act, and how questions around soft forks, post quantum cryptography, property rights, and confiscation should be framed if progress ever becomes real.

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Caitlin Long is the founder and CEO of Custodia Bank, and in this episode we discuss the repricing of gold and its implications for Bitcoin, how derivatives and ETFs suppress price signals, why Wall Street cannot control Bitcoin the way it controlled gold, the strategic role of stablecoins in sustaining dollar demand, and how recent shifts in Treasury and Fed power matter for Bitcoin.

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Amiti Uttarwar is a Bitcoin protocol developer and founder of Waye. In this episode we discuss her path from Bitcoin Core to building support structures for long term open source contributors, the limits of permissionless work, funding and sustainability tradeoffs in Bitcoin development, and why social and human layers now matter as much as technical ones.

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Waye: https://www.waye.dev/

Lawrence Lepard is an investment manager and author of The Big Print. In this episode, he explains why the Federal Reserve has already pivoted back to money printing and why inflation is now structurally embedded in the system. We discuss the growing inevitability of yield curve control, what gold and silver are signaling and why Bitcoin is the most asymmetric response to policy failure and monetary decay.

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Cory Klippsten joins the show for a conversation on Bitcoin, power, and what is actually happening beneath the surface of the crypto industry. We break down why offshore exchanges are tolerated by governments, how surveillance and enforcement shape market structure, and why much of the crypto economy exists to extract rather than create long term wealth. Cory explains why Bitcoin adoption advanced structurally in 2025 despite a flat price, why tariffs and macro uncertainty weighed on markets, and why the old four year cycle narrative is likely dead.

We then get into Bitcoin treasury companies, MicroStrategy, leverage, preferred structures, and why most companies holding Bitcoin are not actually competing in the same game. We also get into self custody risks, education versus attention driven media, prediction markets, macro liquidity, and why Bitcoin is maturing into a real macro asset even if price action has not caught up yet.

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Danny Knowles: https://x.com/\_DannyKnowles or https://primal.net/danny

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