What Bitcoin Did

Ben Perrin is the creator and host of BTC Sessions, one of Bitcoin’s longest-running educational channels. In this episode, Ben breaks down what true Bitcoin self-custody looks like — from beginner-friendly wallets to advanced multi-sig setups — and explains how to protect your family’s Bitcoin if something happens to you. We discuss the trade-offs between wallets like BitKey, Coldcard, Trezor and Ledger, how inheritance planning really works, and why too much complexity can be your biggest risk. We also explore what it means to live entirely on Bitcoin, how Ben helped build a thriving circular economy in Calgary, and why teaching the next generation to value freedom over convenience might be the most important inheritance of all. THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY FOLLOW: Danny Knowles: https://x.com/\_DannyKnowles or https://primal.net/danny BTC Sessions: https://x.com/BTCsessions

Marty Bent is the Founder of TFTC and Managing Partner at Ten31, Erik Cason is the Co-Founder of Vora, and American HODL is… American HODL. In this Bitcoin Whitepaper Day special, marking 17 years since Satoshi published the paper that changed the world, the three reflect on Bitcoin’s wild evolution from a fringe internet experiment to a $2 trillion, geopolitically relevant asset. We discuss how Bitcoin can free society from financial decay, why the future risks sliding into either communism or fascism, and why Bitcoiners must walk the narrow middle path to preserve individual sovereignty. We get into the Trojan horse of institutional adoption, the spiritual war at the heart of money, and what it means to build in an age of surveillance. THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY FOLLOW: Danny Knowles: https://x.com/\_DannyKnowles or https://primal.net/danny American HODL: https://x.com/americanhodl8 or https://primal.net/hodl Erik Cason: https://x.com/Erikcason or https://primal.net/erikcason Marty Bent: https://x.com/MartyBent or https://primal.net/marty

Obi Nwosu is the CEO and co-founder of Fedi. In this episode, Obi explains how Bitcoin can uplift billions by creating new forms of community-based finance, why privacy is the dividing line between freedom and surveillance, and how tools like Fedimint and Fedi are re-engineering what custody means for the world. Obi also warns that if Bitcoin drifts toward convenience at the cost of freedom, it could become the surveillance system it was designed to escape. The only way to protect financial liberty is to build systems that are decentralized and private. THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY FOLLOW: Danny Knowles: https://x.com/\_DannyKnowles or https://primal.net/danny Obi Nwosu: https://x.com/obi or https://primal.net/obi

Alex Gladstein is the Chief Strategy Officer at the Human Rights Foundation and author of Check Your Financial Privilege and Hidden Repression. In this episode, Alex explains why Bitcoin is the most powerful tool for human rights in the 21st century, freedom money that protects people from surveillance, censorship, and financial control. Alex breaks down how money evolved from an instrument of freedom to a weapon of control, how governments now use financial repression as their first tool of censorship, and why Bitcoin is the only technology capable of reversing that trend. He discusses his new essay for The Journal of Democracy, how it reframes Bitcoin as a human rights revolution rather than a financial asset, and why even stablecoins ultimately strengthen state power instead of limiting it. THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Alex Gladstein: https://x.com/gladstein or https://primal.net/gladstein

Nik Bhatia is a financial researcher and the author of Layered Money and The Bitcoin Age. In this episode, Nik explains why last week’s repo market spike was a potential warning shot that liquidity in the system is drying up. He breaks down how the Fed’s plumbing actually works, why banks are hoarding reserves instead of lending them, and what it means when the “floor and ceiling” of the system stop holding. Nik argues that quantitative tightening is reaching its limits and that a new era of liquidity is coming, not necessarily from the Fed, but from a massive private credit boom. He lays out why this will supercharge U.S. industrial growth, fuel long-term inflation, and make Bitcoin one of the most valuable forms of collateral in the world. We also discuss the run in the price of gold, what it could signal geopolitically, and why Bitcoin’s volatility compression might mean the end of traditional market cycles. THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Nik Bhatia: https://x.com/timevalueofbtc

Leopoldo López is a Venezuelan opposition leader, former political prisoner, and founder of the World Liberty Congress, a global alliance of democracy defenders and freedom fighters. In this episode, Leopoldo tells the story of how he went from mayor of Caracas to being hunted, imprisoned, and sentenced for “sending subliminal messages” through his speeches. He reveals what four years in solitary confinement does to the human mind, how he led a prison uprising from inside his cell, and the insane escape that finally got him out of Venezuela. Now living in exile, Leopoldo explains how he’s using Bitcoin to fight back. Funding resistance movements, paying doctors and activists when banks are weaponised by dictators, and building a new freedom network through the World Liberty Congress. THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Leopoldo Lopez: https://x.com/leopoldolopez or https://primal.net/leo

Andrew Hohns is founder and CEO of Battery Finance and CEO of Newmarket Capital. In this episode, we get into how Bitcoin-backed credit can rebuild trust in the global financial system — and why integrating Bitcoin into institutional finance could change everything from mortgages to sovereign debt. We explore why Bitcoin is the ideal form of collateral and how it can transform credit markets distorted by inflation and fiat mismanagement. We also get into Andrew's idea for BitBonds, and how a Bitcoin-infused U.S. Treasury bonds could revolutionise sovereign debt issuance. THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Andrew Hohns: https://www.linkedin.com/in/andrew-hohns-6901226

Matt Odell is host of Citadel Dispatch, co-host of Rabbit Hole Recap, managing partner at Ten31 and co-founder of OpenSats & Bitcoin Park. In this episode, we dive into the rise of surveillance capitalism, why freedom tech is the only path forward, and what a truly sovereign digital society could look like. We explore how Nostr and Bitcoin together create an open foundation for speech, identity, and money. A new digital commons built on permissionless code, not corporate control. Odell also gives his take on the wave of Bitcoin treasury companies and why some have drifted from Bitcoin’s core ethics, and why real, profitable businesses saving in Bitcoin will thrive. THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Matt Odell: https://primal.net/odell

Luke Gromen is the founder of Forest for the Trees. In this episode, we discuss why the U.S. debt cycle is reaching a breaking point, how AI and geopolitics are accelerating structural change, and why we could be witnessing the endgame of the fiat era. We get into why stablecoins may represent the next phase of the petrodollar system, the rise of financial repression, the return of inflation as a political tool, and why gold and Bitcoin are the only real safe havens this decade. He also lays out how AI threatens the debt-based monetary system itself, why autonomous labor could cause mass unemployment, and why meaning, not money, might become society’s scarcest resource. In this episode: - Why the Fed has to cut rates and inflate away debt - The new “petrodollar” built on stablecoins - The coming wave of financial repression THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Luke Gromen: https://x.com/LukeGromen

Checkmate is a Bitcoin analyst known for his on-chain & macro research. In this episode, we get into the weekend’s deleveraging event across the markets, the structural fragility it exposed, and why Bitcoin’s resilience through it all might mark a new era of maturity for the asset. Checkmate breaks down what caused over $20 billion in liquidations, how cascading leverage turned minor sell-offs into total wipeouts, and why market makers simply “walked away.” He also explains why Bitcoin’s fundamentals, ETF inflows, spot demand, and deep capital pools make it better positioned than ever despite short-term volatility. We discuss how Bitcoin is becoming the world’s 24/7 macro signal, why "crypto" may be entering terminal decline, and what the data says about sentiment, and the critical price levels that will determine whether this was just a reset, or the start of a broader bear market. In this episode: - The $20 billion liquidation and what triggered it - How leverage cascades break the market - Bitcoin’s structural strength - Why Bitcoin is the world’s macro thermometer THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Checkmate: https://x.com/_Checkmatey_

Dr. Roman Yampolskiy is a computer scientist and AI safety researcher whose work explores the existential risks of artificial intelligence and the limits of human control. In this episode, we dive deep into whether superintelligence can be contained, why AI may already be on an unstoppable trajectory, and what that means for humanity’s future. Roman explains the difference between narrow AI, AGI, and superintelligence, and why building systems smarter than us may be a form of mutually assured destruction. We cover the ethics of open-source models, whether AI could ever be conscious, and how Bitcoin fits into a world dominated by intelligent machines. In this episode: - Why superintelligence may be impossible to control - The existential risk of AI - Whether consciousness can exist in machines - How AI will replace all human labor - Why AI might eventually use Bitcoin as its native money THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Dr. Roman Yampolskiy: https://x.com/romanyam

Antoine Poinsot is a Bitcoin Core contributor and researcher at Chaincode Labs. In this episode, we dive deep into the growing divide between Bitcoin Core and Knots, why mistrust in Core development has reached new levels, and what the v30 policy changes really mean for the future of Bitcoin. Antoine explains the history behind the OP_RETURN controversy, how “spam” and arbitrary data affect the UTXO set, and why multiple implementations like Knots may be both a strength and a serious risk to the network. We also cover Core’s security-disclosure process, how decisions are actually made inside the project, and whether Bitcoin should ossify or continue to evolve. In this episode: - The Core vs Knots debate - Spam, inscriptions, and the limits of filtering policy - UTXO bloat, miner incentives, and decentralisation risks - Why unreviewed Knots code could become a systemic threat - How Core handles policy vs consensus changes THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Antoine Poinsot: https://x.com/darosior

Peter Dunworth is the Director of a multi-family office and is the co-founder of The Bitcoin Adviser. In this episode, we dive into why Bitcoin is the ultimate vehicle for generational wealth, how to actually protect it across jurisdictions, and why collateral, not debt, is the real story of global finance. We get into why Bitcoin could underpin the collateral markets, how hyperbitcoinisation might play out both personally and globally, and why coexistence with fiat may last much longer than many expect. Peter explains how capital protected Bitcoin bonds could revolutionise sovereign debt, why the financialization of Bitcoin by Wall Street may actually be a net positive. In this episode: - Why 1 BTC could soon be generational wealth - The challenges of preserving wealth - Bitcoin as the foundation of collateral markets - The case for Bitcoin bonds - How Wall Street will financialize Bitcoin - Coexistence of Bitcoin and fiat THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Peter Dunworth: https://x.com/PeterBTCAdviser

Checkmate is an on-chain analyst and founder of Checkonchain, Joe Carlasare is a Commercial Litigator and macro commentator & Matthew Pines is the Executive Director at the Bitcoin Policy Institute. They explain why the four-year cycle may finally be dead, how ETFs and institutional flows are reshaping Bitcoin’s volatility, and why 95K has become a critical “Hodler’s Wall.” We get into gold’s resurgence and how central bank accumulation signals a structural shift in global finance, and how fiscal dominance is eroding the Fed’s independence. The roundtable also dives into the politics of debt, the prospect of yield curve control, and the AI-driven capex boom that could both fuel growth and deepen inequality. In this episode: - The end of the four-year cycle - ETFs, flows, and the new volatility profile of Bitcoin - The Federal Reserve & fiscal dominance - AI & the future of productivity THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Checkmate: https://x.com/_Checkmatey_ Joe Carlasare: https://x.com/JoeCarlasare Matthew Pines: https://x.com/matthew_pines

Samson Mow is the CEO of JAN3 and former CSO at Blockstream. In this episode, we get into the growing rift between Bitcoin Core and Knots, why mistrust in Core development is at an all-time high, and what it means for the future of the network. We discuss the battle over spam and data storage on-chain, whether Bitcoin should ossify or adapt, and how governance really works in Bitcoin. Samson breaks down why the UTXO set could become a systemic risk, how mempool fragmentation is reshaping the network, and why multiple implementations of Bitcoin may be both a blessing and a curse. In this episode: - The origins of the Core vs. Knots debate - Spam, filters, and the slippery slope of arbitrary data on Bitcoin - UTXO bloat, miner incentives, and decentralization risks - How nation-state adoption may trigger the suddenly moment for Bitcoin THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Samson Mow: https://x.com/Excellion

Brandon Quittem is a the Author of The Mycelium of Money and VP at Swan. In this episode, we discuss the fourth turning, how history’s generational cycles shape today’s political chaos, and why Bitcoin could be the institution that emerges from the wreckage of a failing system. We explore the death of monoculture, the erosion of trust in institutions, and whether the coming crisis ends in war, civil unrest, or a re-founding of the American republic. Brandon also breaks down how generational archetypes repeat across history, why social cohesion feels impossible in the algorithmic age, and how Bitcoiners can help reshape the world. In this episode: - The Fourth Turning framework and why 2008 was the catalyst - Loss of faith in institutions and the rise of political nihilism - Monoculture, social fragmentation, and the crisis of identity - Why every Fourth Turning ends in war - How Bitcoin could serve as the foundation for the next era THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Brandon Quittem: https://x.com/bquittem

Lawrence Lepard is an Investment Manager and Author of The Big Print. In this episode, he explains why the dollar system is “doomed,” how inflation is as much psychological as monetary, and why the Fed and Treasury are now trapped in a cycle of money printing and yield curve control. We explore why America may already be in a “fourth turning,” how gold’s surge signals a repricing of trust, and why Bitcoin is the ultimate escape hatch in a world of policy failure and political decay. Lepard also explains how U.S. intelligence agencies are using it to study hyperinflation as an existential risk, and why he’s convinced Bitcoin will hit $1 million. In this episode: - The Fed and the trap of yield curve control - The risk of inflation - Gold’s surge, Bitcoin’s inevitability, and the repricing of trust - Why America may be entering a “fourth turning” THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Lawrence Lepard: https://x.com/lawrencelepard The Fed's Third Mandate (TFTC Article): https://www.tftc.io/the-feds-third-mandate-the-looming-credit-crisis-and-bitcoin/

Pete Rizzo breaks down how Bitcoin’s culture and institutions are being reshaped in 2025. From Trump’s executive orders and the creation of a strategic Bitcoin reserve to the rise of treasury companies and institutional adoption, we explore why this cycle feels different — and why that may not be entirely bullish for freedom money. We get into the shifting monocultures of Bitcoin, from grassroots self-custody to Saylor's vision. Rizzo explains why treasury companies must prove they can outperform Bitcoin itself and the risks if hundreds of them collapse in the next bear market. In this episode: - How institutions are changing Bitcoin adoption - Trump, strategic reserves & Bitcoin policy - The cultural shift in Bitcoin - Why treasury companies may struggle to survive - The next phase of Bitcoin culture THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Pete Rizzo: https://x.com/pete_rizzo_

Freddie New unpacks why the next wave of Bitcoin treasury companies could change the game, and why his new venture, B Hodl, is designed to be more than just another balance sheet play. From Lightning Network infrastructure and UK policy battles to raising fresh capital without leverage, Freddie explains how Bitcoin-only businesses can scale sustainably while strengthening the network itself. We dig into why so many treasury companies risk collapse in a bear market, how B Hodl is structured to avoid forced selling, and why the UK urgently needs a strong Bitcoin voice in both finance and politics. Freddie also explores why institutions will eventually be forced to hold Bitcoin, how mNAV multiples shape valuations, and why every treasury company needs to prove it’s building real infrastructure, not just stacking sats. In this episode: - Why B Hodl is more than a Bitcoin treasury company - How Lightning node operations create real Bitcoin-denominated revenue - Why avoiding leverage is key to long-term survival - Why every company will one day hold Bitcoin on their balance sheet THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Freddie New: Freddie New: https://x.com/freddienew

James Lavish unpacks why the Federal Reserve, runaway debt, and global liquidity cycles are setting the stage for Bitcoin’s next explosive move. From stagflation and deficits to institutional rebalancing and treasury companies, James explains why Bitcoin is unlike any asset the Fed can control. We dig into why policymakers are trapped between inflation and recession, how trillions in debt force them to keep the Ponzi going, and why every rate cut is bullish for Bitcoin. James also explores the role of Black Swan events, how institutions dampen volatility while driving adoption, and why neutral, permissionless money is the only escape from today’s broken system. In this episode: - Are we heading for stagflation? - How $324T in global debt guarantees more money printing - The rise of treasury companies and institutional rebalancing - Why global liquidity is the key signal for Bitcoin’s price - What a Fed cornered by inflation means for the future of money THANKS TO OUR SPONSORS: IREN RIVER ANCHORWATCH BLOCKWARE LEDN BITKEY Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny James Lavish: https://x.com/jameslavish