The Bitcoin Frontier

James Check (aka Checkmate) is the co-founder of Checkonchain and one of the leading voices making onchain data accessible for everyday bitcoiners. Known for his ability to turn complex charts into compelling stories, James blends his engineering background with market analysis to help people see human behavior imprinted in bitcoin’s ledger. In this episode, James joins The Bitcoin Frontier to share why realized cap is one of the most powerful adoption metrics, how to interpret profit and loss across holders, and what onchain data is saying about the current cycle. We dig into the role of ETFs and treasury companies, the impact of derivatives on market structure, and why the future of onchain analytics remains deeply human.SUPPORT THE PODCAST: → Subscribe → Leave a review → Share the show with your friends and family → Send us an email: podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=you... → Book a free call with a bitcoin expert: https://unchained.com/consultation?ut...TIMESTAMPS: 0:00 – Intro & why onchain data matters for bitcoin 1:30 – Buying the 2017 top, engineering background & finding bitcoin 4:50 – Realized cap, cost basis, and why it just crossed $1T 7:30 – From civil engineering to onchain analysis 10:00 – Orange pill moments, macro influences, and early metrics 12:40 – Human behavior, fear & greed mapped onchain 15:00 – Turning raw data into stories people understand 18:00 – State of the market in 2025: leverage, ETFs, and demand 22:00 – Cycles, late-stage dynamics & institutional flows 26:00 – Rethinking market cycles: the three-cycle structure 31:00 – Sell-side pressure, hodlers, and ETF dynamics 35:00 – Are ETFs and treasury companies changing onchain analysis? 40:00 – Profit, loss, and building decision frameworks for different price scenarios 46:00 – Key support zones: 110K, 90K, and Sailor’s liquidation line 49:00 – Derivatives, ETFs, and how flows shape volatility 54:00 – Risks of leverage, banks entering, and future fireworks 58:00 – Rapid fire: desert island metrics, entry point for retail, and data wish list 1:02:00 – The Australian bitcoin community & grassroots conferences 1:05:30 – The future of onchain analytics, AI, and Checkonchain’s next reportWHERE TO FOLLOW US: → Unchained X: https://x.com/unchained → Unchained LinkedIn:   / unchainedcom  → Unchained Newsletter: https://unchained.com/newsletter → James Check’s Twitter: https://x.com/_Checkmatey_ → Connor Dolan’s Twitter:

Rob Warren is Head of Research and Education at Bitcoin Park and the author of The Bitcoin Miners Almanac. He brings a unique ability to explain the economic incentives of bitcoin mining in a way that makes sense across industries and expertise. In this episode, Rob joins The Bitcoin Frontier to share how bitcoin’s incentive structure creates resilience, why mining is misunderstood but critical, and how energy markets and bitcoin naturally align. We dig into the history of mining and the difficulty adjustment, the realities of mining pools and decentralization, and the surprising ways bitcoin miners are accelerating global electrification.SUPPORT THE PODCAST: → Subscribe → Leave a review → Share the show with your friends and family → Send us an email: podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=you... → Book a free call with a bitcoin expert: https://unchained.com/consultation?ut...TIMESTAMPS: 0:00 – Intro & Rob’s role at Bitcoin Park 2:30 – From home mining experiments to Riot Platforms and Bitcoin Park 5:00 – Why Rob wrote The Bitcoin Miners Almanac 8:10 – The three essentials of mining: energy, cooling, and connectivity 9:30 – The brilliance of the difficulty adjustment 13:00 – Satoshi’s hard cap and why it broke economic orthodoxy 20:30 – How incentives keep miners aligned, even without ideology 24:00 – The “security budget” debate and what it misses 29:00 – Mining economics: liabilities, waste energy, and heat as an asset 31:00 – Flare gas, hydro, and turning liabilities into profitable inputs 37:00 – Gridless and bitcoin’s role in electrifying rural Africa 43:00 – AI superclusters and their overlap with bitcoin mining 49:00 – The history of mining pools and how Slush solved variance 56:00 – Difficulty, shares, and how pools account for work 1:02:00 – Centralization risks, hidden white-labeling, and Ocean’s model 1:11:00 – Bitcoin’s anti-fragility and the long-tail theory 1:18:00 – Adoption as a 140-year game, not a 5-year scheme 1:21:40 – Where to find Rob and upcoming Bitcoin Park summitsWHERE TO FOLLOW US: → Unchained X: / unchained → Unchained LinkedIn: / unchainedcom → Unchained Newsletter: https://unchained.com/newsletter → Rob Warren’s Twitter: https://x.com/BikesandBitcoin → Timot Lamarre’s Twitter: https://x.com/TimotLamarre

In this episode, Tuur joins The Bitcoin Frontier to talk about his latest report, How to Position for the Bitcoin Boom (2025 Edition). He share why he believes the 2025 bitcoin cycle will be longer than past cycles, why confiscation risk should be taken seriously, and how bitcoin treasury companies could reshape global adoption. We dig into stagflation, institutional adoption, and how to approach investing not only in bitcoin but also in bitcoin-native companies.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email: podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=you...→ Book a free call with a bitcoin expert: https://unchained.com/consultation?ut...TIMESTAMPS:0:00 – Disclaimer & intro1:00 – Why Tuur released his latest report mid-cycle3:00 – Longer bitcoin cycles and why 2021 was an anomaly5:00 – The institutional cycle and bitcoin as an escape hatch6:30 – Long-term holders, conviction, and whale behavior8:00 – Risks to bitcoin: liquidations, hacks, confiscation, and more10:00 – Government stakes, Intel, and parallels to ETFs and MicroStrategy15:00 – Custody risk, avoiding low-hanging fruit, and the importance of self-custody18:00 – Politics, legitimacy, and bitcoin as a reserve asset19:30 – Macro outlook: dollar weakness, stagflation, and commodities23:00 – Why money printing is inevitable and lessons from Latin America29:00 – The “gradually, then suddenly” moment in markets31:00 – Bitcoin treasury companies, ETFs, and adoption dynamics35:00 – Consolidation, risks, and differences between ETFs and strategy companies40:00 – Investing in bitcoin companies vs bitcoin itself: diligence, timing, geography47:00 – Example: Anchorwatch and the importance of insurance for bitcoin custody49:00 – Philosophy: bitcoin as a side quest and avoiding idolatry53:00 – Swords into plowshares: virtue, stewardship, and technology for goodWHERE TO FOLLOW US:→ Unchained X: / unchained→ Unchained LinkedIn: / unchainedcom→ Unchained Newsletter: https://unchained.com/newsletter→ Tuur Demeester's Twitter: https://x.com/TuurDemeester→ Connor Dolan’s Twitter: https://x.com/conhodlan

Roberto Rios, known online as Peruvian Bull, is a macro researcher and writer. He’s best known for his Dollar Endgame series, where he explores global debt dynamics, reserve currency shifts, and the future of money. In this episode, Roberto joins The Bitcoin Frontier to share his insights on inflation mechanics, the breakdown of the yen carry trade, and how bitcoin fits into the global monetary reset. We dig into debt spirals, Triffin’s dilemma, and why liquidity is the ultimate driver of financial markets.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email: podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=you...→ Book a free call with a bitcoin expert: https://unchained.com/consultation?ut...TIMESTAMPS:0:00 – How QE, deficits, and government spending really drive inflation4:00 – Roberto’s background, macro research journey, and Dollar Endgame series7:30 – Separating truth from propaganda in economics education12:00 – QE in 2010 vs. 2020: why one caused inflation and the other didn’t16:00 – The 2022 rate hike cycle, liquidity drains, and banking crises20:30 – Reverse repo, TGA, and creative liquidity injections25:00 – Why global liquidity is the best barometer for bitcoin’s price31:00 – Triffin’s dilemma and the birth of the dollar system37:00 – Foreigners owning US assets and the long-term risk to Americans43:00 – The simulacrum of markets: why asset prices detach from reality46:00 – The US debt spiral and foreign demand for Treasuries52:00 – Long-term debt risks, short-term bills, and emerging market dynamics57:00 – Breakdown of the yen carry trade and why it matters globally1:03:00 – Japan as a testing ground for future Federal Reserve policies1:06:00 – How bitcoin solves Triffin’s dilemma and fits into the new order1:09:00 – Where to follow Roberto and his Dollar Endgame researchWHERE TO FOLLOW US:→ Unchained X: https://x.com/unchained → Unchained Newsletter: https://unchained.com/newsletter→ Trey Sellers’ Twitter: https://x.com/ts_hodl

Brian Harrington is a long-time bitcoiner, educator, and the gift card product lead at Fold. He’s spent years helping people integrate bitcoin into their personal finance habits, while building deep local roots in his community in Temecula, California. In this episode, Brian joins The Bitcoin Frontier to share why bitcoin is uniquely important for both the individual and society, how “compounding” your geography and network can expand your influence, and why purposeful consumption can be as strategic as stacking sats. We dig into his journey from politics to bitcoin startups, the 10,000 people who could tip U.S. adoption, and how everyday purchases send powerful market signals for bitcoin companies.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email: podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=you...→ Book a free call with a bitcoin expert: https://unchained.com/consultation?ut...TIMESTAMPS:0:00 – Intro & why bitcoin matters for both the individual and society3:00 – Compounding geography and network for long-term influence7:00 – Homeownership, perception, and credibility in your community12:30 – Growing up as bitcoiners and recognizing “the payoff”16:00 – Local politics, planning committees, and building influence24:00 – The 10,000 people who could tip U.S. bitcoin adoption29:00 – The best argument against bitcoin and why incentives matter33:00 – Balancing stacking sats with purposeful consumption40:00 – How Fold integrates bitcoin into everyday spending & market signals53:00 – Fold going public, future plans, and closing thoughtsWHERE TO FOLLOW US:→ Unchained X: / unchained→ Unchained LinkedIn: / unchainedcom→ Unchained Newsletter: https://unchained.com/newsletter→ Trey Sellers’ Twitter: https://x.com/ts_hodl

Isabella Santos is a content creator, educator, and bitcoiner. She runs BTC Isla on Isla Mujeres, where she’s planting seeds of financial literacy, self-custody, and sovereign empowerment—starting with Bitcoin education for locals. In this episode, Isabella joins The Bitcoin Frontier to share how she’s turning a sleepy island into a vibrant circular economy, what she’s learned documenting bitcoin adoption across Latin America, and why saving in sats is changing lives in Mexico.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email: podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=youtube→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtubeTIMESTAMPS:0:00 – Intro1:18 – From journalism to bitcoin advocacy3:02 – Why she moved to Isla Mujeres4:38 – Building BTC Isla and teaching bitcoin to locals6:01 – Financial literacy, circular economies, and bottom-up adoption9:10 – Saving in sats vs. fiat: real stories from her students11:00 – Why Western bitcoin narratives don’t always resonate globally13:02 – Documenting bitcoin in Peru, El Salvador, and beyond15:03 – Adapting messaging to different cultures and education levels17:03 – Launching Get Based TV for sovereign storytelling20:41 – What “awakening the sovereign individual” really means25:33 – Cultural hurdles to long-term thinking—and how Bitcoin helps27:04 – Escaping abusive systems via bitcoin circular economies29:34 – Lightning vs. on-chain: what matters on the ground31:04 – How self-custody education meets infrastructure limits34:18 – BitFit Games: gamified bitcoin education + community fitness36:07 – Building her own bitcoin citadel, gym, and villas39:02 – Accepting bitcoin at the gym and beyond40:05 – What’s next: villas, education reform, and new docs42:13 – How to support BTC IslaWHERE TO FOLLOW US:→ Unchained X: / unchained→ Unchained LinkedIn: / unchainedcom→ Unchained Newsletter: https://unchained.com/newsletter→ Trey Sellers’ Twitter: https://x.com/ts_hodl

In this episode, we speak with Jeff Booth—entrepreneur, author of The Price of Tomorrow, and founding partner at Ego Death Capital—about what happens when deflation meets a free market for the first time. Jeff unpacks how AI and robotics are accelerating exponential productivity, and why only bitcoin can encode that abundance into the economy without extraction. We talk about what it means to denominate your life in bitcoin, why the future is being built by people who have already opted out of the legacy system, and how venture capital looks different when the benchmark is no longer 8%—but 45%. Jeff offers a deeply moral take on progress, pricing, and why building on bitcoin is no longer risky—it’s necessary.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=you...→ Book a free call with a bitcoin expert: https://unchained.com/consultation?ut...TIMESTAMPS:0:00 – Intro1:10 – Why Jeff started Ego Death Capital5:22 – Bitcoin vs crypto: protocol vs casino8:35 – 45% risk-free rate: why Jeff invests in bitcoin companies13:40 – How deflation changes the game17:12 – The new benchmark: outcompete bitcoin20:44 – Why exponential tech and fiat money can’t coexist24:20 – How Jeff thinks about AI and marginal cost29:05 – Productivity, value creation, and economic first principles33:40 – The myth of capitalism under fiat36:59 – AI, robotics, and what the merge looks like41:10 – Bitcoin as mirror and map: get out of the dying system43:37 – Hope, energy, and building for othersWHERE TO FOLLOW US:→ Unchained X: /unchained→ Unchained LinkedIn: /unchainedcom→ Unchained Newsletter: https://unchained.com/newsletter→ Connor Dolan's Twitter: /conhodlan

Ben Justman is a winemaker, entrepreneur, and bitcoiner. He founded Peony Lane in western Colorado with a bet on long-term thinking: plant grapes, make wine, and stack bitcoin. In this episode, Ben joins The Bitcoin Frontier to share how he built a handcrafted wine business from the ground up—during a drawdown—and how his best customers turned out to be bitcoiners.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-descriptionTIMESTAMPS:0:00 – Intro1:14 – Bitcoin bull run and building a business on conviction7:10 – Wine, frost, and learning the hard way in two industries13:45 – Why winemaking and bitcoin both reward patience21:15 – What’s really in your wine—and why bitcoiners care27:00 – Selling wine for sats: accepting bitcoin and adapting systems33:00 – Borrowing at the top, stacking through the drawdown40:00 – How bitcoiners became his core customer base46:30 – Fighting industry headwinds with niche alignment49:40 – The downside of leverage and the value of conviction59:25 – What’s next for Peony LaneWHERE TO FOLLOW US:→ Unchained X: https://twitter.com/unchained→ Unchained Linkedin: https://www.linkedin.com/company/unchainedcom → Unchained Newsletter: https://unchained.com/newsletter → Trey Sellers' Twitter: https://x.com/ts_hodl

What if orange-pilling isn’t persuasion—but marketing, ethics, and timing? In this episode, we sit down with Tad Smith—partner at One Roundtable Partners, former CEO of Madison Square Garden and Sotheby’s, and one of bitcoin’s most articulate educators—to explore the moral case for orange-pilling, and why it’s not a right but a responsibility. Tad shares hard-won lessons from orange-pilling family members across generations and wealth brackets, and explains why alignment—not argument—is the key. We break down how different cohorts—from boomers to creatives—encounter bitcoin, and why effective orange-pilling starts with listening, not preaching. From bitcoin vs. college and homeownership, to AI’s threat to knowledge workers, Tad lays out how bitcoin becomes not speculation, but protection—not rebellion, but insurance—not utopia, but sovereignty. SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=you...→ Book a free call with a bitcoin expert: https://unchained.com/consultation?ut...TIMESTAMPS:0:00 – Intro1:10 – The moral case for orange-pilling5:47 – Why persuasion fails and alignment works10:08 – Mistakes made orange-pilling family and friends15:02 – You need an invitation to orange-pill18:48 – Cohort-based messaging: it’s not religion, it’s marketing23:27 – Orange-pilling high-net-worth individuals28:12 – Retirees, boomers, and fear of complexity31:40 – Tech-savvy, libertarian, and progressive angles35:20 – Why creatives matter: expression, ownership, and ordinals38:47 – College vs bitcoin: a post-AI investment dilemma44:02 – Should you buy a house or stack more bitcoin?49:55 – Narrative shapes price: the Marian Antoinette necklace lesson53:10 – What bitcoin really is: protection, insurance, sovereignty57:35 – How to orange-pill with respect and precisionWHERE TO FOLLOW US:→ Unchained X:   / unchained  → Unchained Linkedin:   / unchainedcom  → Unchained Newsletter: https://unchained.com/newsletter  

What if the future of credit markets is built on bitcoin? In this episode, we sit down with Jon Melton, Head of Lending at Unchained and a veteran of Morgan Stanley, Silvergate, and Xapo. Jon shares his journey from Wall Street to building a bitcoin-backed credit business, helping institutions safely borrow dollars against their bitcoin without losing control. We explore why bitcoin is pristine collateral, how interest rates in this market may evolve, and why re-hypothecation risk matters. Jon explains how collaborative custody transforms the borrowing experience and outlines the future of institutional credit on a bitcoin standard. We also discuss why the regulatory tide in America has turned—and what that unlocks for bitcoin’s next wave.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Read Joe Burnett’s new report, Repricing the Economy in Bitcoin: https://www.unchained.com/go/repricing-the-economy-in-bitcoin?utm_campaign=strivereport&utm_medium=podcast&utm_source=tbf&utm_content=youtubeTIMESTAMPS:0:00 - Intro4:45 - Conviction through doing the work10:07 - Managing $1.5b in bitcoin loans with zero losses16:08 - What Wall Street still doesn’t understand about bitcoin20:11 - Why bitcoin embodies American values26:27 - How interest rates might evolve in bitcoin lending30:12 - Why Unchained never rehypothecates your bitcoin36:22 - How big will bitcoin lending get in 10 years41:10 - What unlocks the next wave of bitcoin credit markets46:25 - The biggest risk to bitcoinWHERE TO FOLLOW US:→ Unchained X: https://twitter.com/unchained→ Unchained Linkedin: https://www.linkedin.com/company/unchainedcom → Unchained Newsletter: https://unchained.com/newsletter → Joe Burnett’s Twitter: https://twitter.com/IIICapital→ Jose Burgos (Director of Media Production) on Twitter: https://x.com/DeFBeD→ Jon Melton’s Twitter: https://x.com/jmelton21mm

What if you were introduced to digital scarcity before bitcoin even existed? In this episode, we sit down with Anil Patel, author of The Bitcoin Handbook and creator of widely shared bitcoin graphics featured in Michael Saylor keynotes. Anil shares how selling concert tickets sparked his early understanding of scarcity, and how that insight shaped his approach to bitcoin. We discuss his take on bitcoin’s future as a store of value, treasury asset, and sovereign protection tool, and why he believes bitcoin’s price will rise forever. Anil unpacks his journey from pitching bitcoin to MBA classmates in 2013 to now building educational content that simplifies complex ideas. We explore the rise of bitcoin treasury companies, how centralized platforms differ from bitcoin’s ethos, and the enduring value of reading and low time preference in a distracted world.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Read Joe Burnett’s new report, Repricing the Economy in Bitcoin: https://www.unchained.com/go/repricing-the-economy-in-bitcoin?utm_campaign=strivereport&utm_medium=podcast&utm_source=tbf&utm_content=youtubeTIMESTAMPS:0:00 - Intro  1:09 - Anil’s early digital scarcity insight from concert ticketing  5:12 - Why bitcoin will go up forever, according to Anil  12:07 - Building a personal and family bitcoin reserve  14:18 - Bitcoin treasury companies vacuuming up supply  16:17 - Pitching bitcoin to his MBA class in 2013  23:32 - Evolving bitcoin education and content creation  29:22 - Why early bitcoiners understood digital scarcity  32:16 - Sovereignty vs number go up—why both matter  40:16 - Mental models and heuristics to cut through noise  43:08 - Innovation is accelerating—so is bitcoin’s upside WHERE TO FOLLOW US:→ Unchained X: https://twitter.com/unchained→ Unchained Linkedin: https://www.linkedin.com/company/unchainedcom → Unchained Newsletter: https://unchained.com/newsletter → Joe Burnett’s Twitter: https://twitter.com/IIICapital→ Jose Burgos (Director of Media Production) on Twitter: https://x.com/DeFBeD→ Anil Patel’s Twitter: https://x.com/anilsaidso

What if bitcoin treasury companies become the most powerful corporations of the next decade? In this episode, we’re joined by Sam Callahan to explore how lightning adoption, corporate strategy, and macro uncertainty are reshaping the global economy. Sam explains why companies like Strategy are pioneering a new capital structure based on bitcoin, how BTC-native yield on the Lightning Network could disrupt traditional finance, and why institutions are finally waking up to sound money. We cover everything from regulatory arbitrage and ETF flows to lightning yield flywheels, safe haven behavior, and the future of corporate balance sheets. Sam also breaks down how tether and stablecoin adoption could drive a new phase of economic activity on lightning—and what it means for investors looking to outperform.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Read Joe Burnett’s new report, Repricing the Economy in Bitcoin: https://www.unchained.com/go/repricing-the-economy-in-bitcoin?utm_campaign=strivereport&utm_medium=podcast&utm_source=tbf&utm_content=youtubeTIMESTAMPS:0:00 - Intro  1:21 - How bitcoin treasury companies are revolutionizing finance  5:20 - Bitcoin treasury companies vs real estate leverage  10:01 - Why this cycle could mimic 2017’s parabolic run  12:46 - Why bitcoin adoption is at a major inflection point  16:36 - Who’s next to buy bitcoin: corporates or governments?  22:31 - If bitcoin hits 50% of gold, price hits $1 million  28:06 - Bitcoin is starting to show safe haven behavior  34:39 - How lightning and tether could explode BTC-native yield  46:16 - Spend fiat or spend and replace bitcoin?52:30 - Why DOGE can’t stop the era of fiscal dominanceWHERE TO FOLLOW US:→ Unchained X: https://twitter.com/unchained→ Unchained Linkedin: https://www.linkedin.com/company/unchainedcom → Unchained Newsletter: https://unchained.com/newsletter → Joe Burnett’s Twitter: https://twitter.com/IIICapital→ Jose Burgos (Director of Media Production) on Twitter: https://x.com/DeFBeD→ Sam Callahan’s Twitter: https://x.com/samcallah

Bitcoin’s volatility is falling—and Trace Mayer thinks that may signal the end of its wealth creation era. In this episode, we sit down with early bitcoin investor and proof of keys holiday founder Trace Mayer to unpack where we are in bitcoin’s lifecycle and what comes next. Trace breaks down his recent debate with Peter Schiff, explaining why subjective value theory and entrepreneurship are at the heart of bitcoin’s superiority over gold. We explore bitcoin’s declining volatility, why Strategy’s strategy may be riskier than it looks, and how bitcoin financialization is accelerating faster than expected. Trace also shares why proof of reserves matters, the long-term risk of custodial centralization, and how legal frameworks might evolve to protect against contentious forks.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Read Joe Burnett’s new report, Repricing the Economy in Bitcoin: https://www.unchained.com/go/repricing-the-economy-in-bitcoin?utm_campaign=strivereport&utm_medium=podcast&utm_source=tbf&utm_content=youtubeTIMESTAMPS:0:00 - Intro1:24 - Debating Peter Schiff on sound money and bitcoin5:44 - Why Satoshi was a monetary entrepreneur10:07 - Bitcoin vs gold: scarcity, portability, and use cases20:36 - The light side vs dark side of investing with bitcoin23:18 - Saylor’s strategy: capital gains vs cash flow28:01 - Bitcoin volatility is declining—is the wealth creation phase over?33:45 - The financialization of bitcoin is accelerating40:01 - Global instability, geopolitics, and bitcoin49:46 - Capital controls: bitcoin’s roleWHERE TO FOLLOW US:→ Unchained X: https://twitter.com/unchained→ Unchained Linkedin: https://www.linkedin.com/company/unchainedcom → Unchained Newsletter: https://unchained.com/newsletter → Joe Burnett’s Twitter: https://twitter.com/IIICapital→ Jose Burgos (Director of Media Production) on Twitter: https://x.com/DeFBeD→ Trace Mayer’s Twitter: https://x.com/TraceMayer

Bitcoin might still be wildly undervalued—and Adam Back explains why. In this episode, we sit down with Adam Back, CEO of Blockstream, early cypherpunk, and inventor of hashcash, the proof-of-work system that inspired bitcoin mining. Adam shares the story of receiving the first known email from Satoshi Nakamoto, why he didn’t buy bitcoin until it hit $100, and how early ideas like b-money and bit gold shaped Satoshi’s breakthrough. We explore the importance of a fixed supply, why halvings still move the market, and how doubt keeps bitcoin underpriced. Adam weighs in on treasury adoption, supply shocks, and whether this cycle could break the diminishing returns theory. We also discuss volatility, long-term thinking, and the $100 trillion opportunity bitcoin is unlocking.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Read Joe Burnett’s new report, Repricing the Economy in Bitcoin: https://www.unchained.com/go/repricing-the-economy-in-bitcoin?utm_campaign=strivereport&utm_medium=podcast&utm_source=tbf&utm_content=youtubeTIMESTAMPS:0:00 - Intro1:00 - Why selling bitcoin is like playing against a rigged casino7:38 - Why Adam didn’t buy bitcoin until it hit $10010:11 - Realizing bitcoin had bootstrapped into something real13:35 - The underrated role of Nick Szabo, Wei Dai, and Hal Finney19:24 - Why the 2008 financial crisis was perfect timing for bitcoin22:32 - Is bitcoin drifting from its cypherpunk roots?26:01 - How doubt keeps bitcoin undervalued27:52 - Why $10 million bitcoin is still possible31:19 - Why volatility makes bitcoin hard to sell36:36 - Why halvings still impact the price despite being predictable42:35 - Why this cycle could invalidate the diminishing returns theory46:14 - The global unbanked: a $100 trillion bitcoin market48:12 - The 200-week moving average as a price floor50:10 - Price reflexivity: why people buy because it’s going up53:07 - The shrinking tradable supply and why halvings still matterWHERE TO FOLLOW US:→ Unchained X: https://twitter.com/unchained→ Unchained Linkedin: https://www.linkedin.com/company/unchainedcom → Unchained Newsletter: https://unchained.com/newsletter → Joe Burnett’s Twitter: https://twitter.com/IIICapital→ Jose Burgos (Director of Media Production) on Twitter: https://x.com/DeFBeD→ Adam Back’s Twitter: https://x.com/adam3us

In this episode, we sit down with Vijay Boyapati, author of The Bullish Case for Bitcoin, to explore where we really are in the current market cycle and what comes next. Vijay breaks down four frameworks for valuing bitcoin, explains why gold parity is almost inevitable, and outlines how ETFs and corporate treasury strategies are reshaping adoption. We talk through HODL waves, why the current price action still feels boring, and what it might take to push bitcoin to $10mm+ per coin. Vijay also discusses quantum computing and AI as emerging risks, the importance of ossification, and how a future of abundance may still require sound money. Finally, he shares what he’d update in his original thesis and why the story of Satoshi may become one of the defining legends of the next thousand yearsSUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Read Joe Burnett’s new report, Repricing the Economy in Bitcoin: https://www.unchained.com/go/repricing-the-economy-in-bitcoin?utm_campaign=strivereport&utm_medium=podcast&utm_source=tbf&utm_content=youtubeTIMESTAMPS:0:00 - Intro2:08 - Valuing bitcoin at $1M and $10M4:01 - HODL waves and the psychology of selling5:49 - Four frameworks for bitcoin valuation10:06 - Why bitcoin surpassing gold is nearly certain12:27 - How early we still are in global adoption14:38 - Why ETFs changed the bitcoin game17:32 - How MicroStrategy tapped the bond market20:36 - What’s holding bitcoin back today22:41 - Why hyperbitcoinization is unlikely this cycle23:18 - How bitcoin cycles crash and reset27:11 - What could break the MicroStrategy model29:34 - How long-term investors may soften future crashes30:27 - Would you change anything in the bullish case?35:06 - Quantum computing and bitcoin’s biggest risk38:02 - Will AI abundance make money obsolete?41:29 - Why time guarantees bitcoin’s role in the future46:00 - Bitcoin ossification vs. protocol changes49:27 - Will self-custody or custodians win long term?51:40 - What would Satoshi think today?54:19 - Is bitcoin a digital organism?56:05 - Outside of bitcoin, what excites Vijay most?57:09 - Where to find Vijay and his workWHERE TO FOLLOW US:→ Unchained X: https://twitter.com/unchained→ Unchained Linkedin: https://www.linkedin.com/company/unchainedcom → Unchained Newsletter: https://unchained.com/newsletter → Joe Burnett’s Twitter: https://twitter.com/IIICapital→ Jose Burgos (Director of Media Production) on Twitter: https://x.com/DeFBeD→ Vijay Boyapoti’s Twitter: https://x.com/real_vijay

What if bitcoin could spark a nuclear renaissance? In this episode, we’re joined by Ryan, better known as Nuclear Bitcoiner, to explore the intersection of nuclear energy and bitcoin. Ryan shares how bitcoin aligns with long-term infrastructure like small modular reactors and how it may reshape the economics of power generation. We walk through the advantages of nuclear over wind and solar, the implications of AI and data center demand, and how microgrids could decentralize the future energy landscape. Ryan also breaks down fusion vs. fission, the role of hash rate flexibility, and why nation-states will inevitably compete for mining dominance. From financing nuclear with bitcoin bonds to rethinking scarcity itself, this episode offers a forward-looking view of energy, incentives, and acceleration.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Learn why every business will buy bitcoin: https://unchained.com/frontierTIMESTAMPS:00:00 - Intro01:01 - Why Ryan became the nuclear bitcoin03:03 - How bitcoin mining fits perfectly with nuclear microgrids06:36 - Why nuclear beats wind and solar on resilience11:32 - Can small nuclear reactors decentralize the grid?14:11 - The AI and data center energy boom is bullish for nuclear16:24 - Why Microsoft wants to own a nuclear plant20:02 - Bitcoin may fix nuclear financing22:43 - How radiation is misunderstood—and actually saves lives25:14 - What’s the difference between nuclear fusion and fission?27:33 - The myth of “cheap” wind and solar energy30:09 - Bitcoin mining adds unmatched flexibility to the grid36:25 - Could bitcoin mining one day use more energy than the world does today?41:05 - Why perfect scarcity is so hard to understand44:51 - How bitcoin bonds could revolutionize nuclear financing52:30 - Final thoughts on bitcoin, nation-states, and the future of energyWHERE TO FOLLOW US:→ Unchained X: https://twitter.com/unchained→ Unchained Linkedin: https://www.linkedin.com/company/unchainedcom → Unchained Newsletter: https://unchained.com/newsletter → Joe Burnett’s Twitter: https://twitter.com/IIICapital→ Jose Burgos (Director of Media Production) on Twitter: https://x.com/DeFBeD→ Nuclear Bitcoiner’s Twitter: https://x.com/NuclearBitcoinr

What happens when a former underground miner and Navy fighter pilot goes all in on bitcoin? In this episode, we sit down with George Bodine to find out. George shares his unique journey—from hauling rock beneath the earth to flying jets—and how it led him to see bitcoin as the only escape from a broken monetary system. We explore his view on inflation, the collapse of the American dream, and why he believes bitcoin could reach $2.4 million by 2030. George breaks down the risks of yield products, the role of ETFs and MicroStrategy, and the repeal of SAB 121. He shares his thoughts on Tether and 21 Capital, the rise of the national strategic bitcoin reserve, and the possibility of sovereign accumulation. We close with a thoughtful discussion on whether bitcoin is ultimately for optimists or pessimists—and his message to the next generation.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Watch the video premiere of Bitcoin, Not Crypto: https://unchained.com/frontierTIMESTAMPS:0:00 - Intro1:14 - From underground miner to Navy pilot to Delta captain4:17 - Realizing you can’t outrun fiat money after the GFC6:57 - Living through Nixon’s gold shock and the petrodollar pivot9:06 - Why gold bugs are future bitcoiners12:51 - Will young people be locked out of owning meaningful bitcoin?16:49 - A volatile but hopeful transfer of wealth to ethical builders18:59 - Coinbase yield product and the future of bitcoin financial services27:52 - Tether, 21 Capital, and Strategy30:19 - SAB 121, stablecoin legislation, and the national strategic reserve46:51 - Bitcoiners will inherit the world50:11 - TradFi anger, denial, and inability to accept yield-less assets01:05:28 - Will art improve on a bitcoin standard?WHERE TO FOLLOW US:→ Unchained X: https://twitter.com/unchained→ Unchained Linkedin: https://www.linkedin.com/company/unchainedcom → Unchained Newsletter: https://unchained.com/newsletter → Joe Burnett’s Twitter: https://twitter.com/IIICapital→ Jose Burgos (Director of Media Production) on Twitter: https://x.com/DeFBeD→ George Bodine’s Twitter: https://x.com/Jethroe111

What if bitcoin really is decoupling from the stock market? In this episode, we’re joined by Rational Root, creator of the Bitcoin Strategy Platform and one of the top on-chain cycle analysts in the space. We explore whether macro chaos and rising gold prices are setting the stage for bitcoin to chart its own path. Root breaks down how the 4-year cycle could break, what historical data says about the current inflection point, and why he believes institutional flows are quietly limiting downside volatility. He also shares his custom spiral and 3D valuation charts, how to track hype in the market, and why 100k bitcoin might be harder to break than most think.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Buy bitcoin in an IRA—sign up today and get your first year free: unchained.com/frontier→ Watch the video premiere of Bitcoin, Not Crypto: https://unchained.com/frontierTIMESTAMPS:0:00 - Intro1:06 - Why bitcoin’s fundamentals have never looked better4:20 - Could macro chaos trigger bitcoin’s decoupling?10:06 - Bitcoin trades on optimism, gold trades on fear17:09 - Is gold’s rise setting up bitcoin’s breakout?22:01 - Will the next recession break the 4-year cycle?30:23 - Why 100k bitcoin may face resistance36:09 - The 3D chart that could predict the cycle top44:10 - Bitcoin’s floor price keeps rising50:23 - Will bitcoin crack 100k or break down?WHERE TO FOLLOW US:→ Unchained X: https://twitter.com/unchained→ Unchained Linkedin: https://www.linkedin.com/company/unchainedcom → Unchained Newsletter: https://unchained.com/newsletter → Joe Burnett’s Twitter: https://twitter.com/IIICapital→ Jose Burgos (Director of Media Production) on Twitter: https://x.com/DeFBeD→ Rational Root’s Twitter: https://x.com/therationalroot

Energy production is broken—and rebuilding it could unlock a new era of abundance. In this episode, we sit down with Isaiah Taylor, founder of Valor Atomics, to explore how cheap energy can reshape the world. Isaiah shares his family’s history with the Manhattan Project, why nuclear innovation stalled in the West, and how Valor is building modular giga-sites to produce cleaner, cheaper energy at scale. We discuss how robotics, AI, and manufacturing are shifting cost curves, the future of energy demand, and why decentralization is key to national resilience. Isaiah also shares his thoughts on bitcoin, the dangers of regulatory bloat, and how restoring antifragility to America’s legal system could unleash a new industrial boom.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Buy bitcoin in an IRA—sign up today and get your first year free: unchained.com/frontier→ Watch the video premiere of Bitcoin, Not Crypto: https://unchained.com/frontierTIMESTAMPS:0:00 - Intro1:04 - Isaiah Taylor’s Manhattan Project family history3:18 - Secrecy inside America’s Secret City5:37 - Why America needs new Manhattan Projects today7:39 - How Valor Atomics is rethinking nuclear reactors10:01 - How a nuclear reactor really works13:38 - Why building reactors became a legal and talent problem16:59 - How AI is pushing investors toward hard tech18:59 - The future of energy: exponential demand and production21:46 - Why energy prices have been broken since the 1970s26:06 - Valor’s giga-site model to transform energy markets30:27 - Could machines create an infinite energy feedback loop?33:57 - Humanity’s mission: garden the universe36:19 - Will money still matter in a post-scarcity world?40:34 - How regulatory bloat crushed American industry48:10 - Why Isaiah Taylor is suing the Nuclear Regulatory CommissionWHERE TO FOLLOW US:→ Unchained X: https://twitter.com/unchained→ Unchained Linkedin: https://www.linkedin.com/company/unchainedcom → Unchained Newsletter: https://unchained.com/newsletter → Joe Burnett’s Twitter: https://twitter.com/IIICapital→ Jose Burgos (Director of Media Production) on Twitter: https://x.com/DeFBeD→ Isaiah Taylor’s Twitter: https://x.com/isaiah_p_taylor

What if bitcoin development stopped tomorrow? In this episode, we sit down with Mike Schmidt, Executive Director at Brink, and Buck Perley, Director of Product Engineering at Unchained, to explore the state of open source development and why it matters more than ever. Mike shares his path from software engineer to funding bitcoin core developers, while Buck recounts his early bitcoin experiences in China. We cover what bitcoin core developers actually do, how brink evaluates contributors, and why maintenance, security, and review are essential—even without major protocol changes. The conversation also touches on ossification, governance, and the future of soft forks. If you’ve ever wondered who maintains bitcoin’s foundation and why it matters, this episode pulls back the curtain.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Buy bitcoin in an IRA—sign up today and get your first year free: unchained.com/frontier→ What is bitcoin: A tech stock? An inflation hedge? A ponzi scheme? Can DOGE Fix The Dollar? Come listen to Professor Peter St. Onge give a keynote presentation on April 16th: https://unchained.com/dogeTIMESTAMPS:0:00 - Intro1:14 - Why open source matters for bitcoin6:20 - How Buck discovered bitcoin in China11:12 - What bitcoin core developers actually do16:57 - How brink evaluates developers before funding22:15 - What brink would do with unlimited funding27:34 - Why bitcoin needs more reviewers, not just coders32:10 - Should bitcoin ossify or stay flexible?36:36 - The messy politics of soft forks and consensus42:18 - What is bitcoin governance really?47:18 - Unpopular opinions from Mike and Buck51:25 - The biggest long-term risk to bitcoinWHERE TO FOLLOW US:→ Unchained Twitter: https://twitter.com/unchainedcom→ Unchained Linkedin: https://www.linkedin.com/company/unchainedcom → Unchained Newsletter: https://unchained.com/newsletter → Joe Burnett’s Twitter: https://twitter.com/IIICapital→ Jose Burgos (Director of Media Production) on Twitter: https://x.com/DeFBeD→ Mike Schmidt’s Twitter: https://x.com/bitschmidty→ Buck Perley’s Twitter: https://x.com/puckberley