317. TBR - Bitcoin’s Failed Rocket Launch | The Diminishing Returns Problem | RWAs and the Collectibles Wave

In Episode 317 of The Block Runner Podcast, hosts William and I-man unpack why this Bitcoin cycle felt like a failed rocket launch, how unrealistic expectations soured market sentiment, and what Bitcoin's diminishing returns mean for miners and the long-term security budget. They then dive into the real world asset wave sweeping crypto: graded sports cards and Pokemon moving on-chain, Meteora and OpenSea entering the RWA arena, and what past collectible bubbles, from tulips to trading cards, teach us about speculative media. Finally, they share NAT.fun updates: the second rocket launch, a move toward systemic periodic launches, fame-score based caps, and ten thousand dollars up for grabs for creators. Disclosure: The hosts are founders of NAT.fun and hold positions in assets discussed. Nothing in this episode is financial advice. Watch the full episode on YouTube and subscribe to the newsletter at TheBlockRunner.com.