What Bitcoin Did

“I think the primary product that they’re the most interested in selling is AI psychosis.”

Erik Cason returns to discuss why he believes American capitalism has already ended, how AI could accelerate the rise of the surveillance state, and why owning your own AI could become as important as holding your own Bitcoin.

We also get into AI dependence, his warning of a “digital 9/11”, the competition between Chinese open models and American AI companies, and the personal AI system he’s building. Erik explains how Bitcoin and cryptography fit into this future, and why Bitcoin could become essential for paying for AI when governments restrict access.

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"The rest of the world, of course, should always have been paying attention to Bitcoin, but they should be paying attention to it for a very different set of reasons now because they’re next.”

Jameson Lopp returns to discuss how AI is accelerating the race between hackers and defenders, what the Coldcard and Liquid hacks reveal about Bitcoin security, and why he sees Bitcoin as the canary in the coal mine for other industries.

We also get into hardware wallets, multisig and protecting life-changing amounts of bitcoin, the risks of KYC leaks and physical attacks, and what Jameson learnt from talking to scammers and interviewing North Korean applicants trying to get jobs at Casa.

THANKS TO OUR SPONSORS:

LEDN - Explore Bitcoin-backed loans and get 0.25% off your first loan.

SWAN - Buy Bitcoin, Build Wealth. Discover Swan’s Bitcoin products for individuals and businesses.

ANCHORWATCH - Insured Bitcoin custody, security & inheritance. Book a consultation:

BITKEY - Get 10% off the new Bitkey wallet with code WBD.

CAPE - Get 33% off your first six months with code WBD.

FOLLOW:

Danny Knowles: https://x.com/_DannyKnowles

Jameson Lopp: https://x.com/lopp

Jameson Get's Swatted: https://www.youtube.com/watch?v=yCWJY8olZHU

“I think AI is officially too big to fail.”

Jeff Ross returns to discuss why he expects an AI-led manufacturing boom in the US and how rising productivity could help America grow its way out of debt.

We also get into why AI-driven deflation could benefit people but threaten a debt-based monetary system, and why the government may eventually have to backstop the AI buildout with QE or yield curve control.

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THANKS TO OUR SPONSORS:

LEDN - Explore Bitcoin-backed loans and get 0.25% off your first loan.

SWAN - Buy Bitcoin, Build Wealth. Discover Swan’s Bitcoin products for individuals and businesses.

ANCHORWATCH - Insured Bitcoin custody, security & inheritance. Book a consultation:

BITKEY - Get 10% off the new Bitkey wallet with code WBD.

CAPE - Get 33% off your first six months with code WBD.

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FOLLOW:

Danny Knowles: https://x.com/_DannyKnowles

Jeff Ross: https://x.com/FormerDrJeff

“We don’t really have the tools to deal with fiscal-driven inflation.”

Lyn Alden returns to discuss why the US is entering deeper fiscal dominance, what the Treasury’s recent buybacks signal, and why America’s growing debt and $2 trillion deficits are changing what monetary policy can actually achieve.

We discuss the increasingly K-shaped economy, why developed markets are beginning to take on characteristics once associated with emerging markets, and why Lyn believes this macro environment could persist well into the 2030s.

Lyn also explains why she believes Bitcoin is increasingly well positioned for the years ahead, why capital could rotate out of the AI trade, and what would need to happen for Bitcoin to enter a stronger bull market.

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Danny Knowles: https://x.com/_DannyKnowles

Lyn Alden: https://x.com/LynAldenContact

“There is a reckoning. There is a point at which something has to be addressed.”

Nik Bhatia returns to get into America’s $40 trillion debt problem, why the real danger is the share of tax revenue being consumed by interest, and how continued Treasury bill issuance could eventually trigger stress in the repo market and force the Fed to intervene.

We discuss whether Treasury buybacks helped drive Bitcoin’s recent 20% rally, why the UK, France and Japan may face major monetary intervention before the United States, and how Washington is attempting to reclaim control of the offshore dollar system. Is the world entering a new kind of financial war?

Nik also explains why he believes Bitcoin’s bottom is in but the next bull market has not yet begun, what his liquidity indicators are signalling, and why the bond market could determine Bitcoin’s next major move.

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LEDN

SWAN

ANCHORWATCH

BITKEY

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FOLLOW:

Danny Knowles: https://x.com/_DannyKnowles

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The Bitcoin Layer: https://www.youtube.com/c/TheBitcoinLayer