Stephan Livera Podcast

Official Podcast Episode: https://stephanlivera.com/77000:00 - Interview with Gabriele Vernetti of Stratum V2 @gitgab1915:38 - Interview with Jimmy Kostro @jimmykostro13:14 - Interview with James Check of checkonchain.com Links: https://x.com/gitgab19https://x.com/jimmykostrohttps://x.com/_checkonchainhttps://x.com/_checkmatey_https://x.com/stratumv2Bitcoinchiangmai.orgStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack#Bitcoin #BitcoinPodcast #StephanLiveraPodcast #SLP770 #OriginSeoul #BitcoinSeoul #Bitcoin2026 #StratumV2 #BitcoinMining #BitcoinMiningDecentralization #BitcoinDevelopment #BitcoinOnChain #OnChainAnalysis #JamesCheck #CheckonChain #JimmyKostro #GabrieleVernetti #BitcoinAsia #BitcoinConference #BitcoinKorea

Interviews at Bitcoin Asia 2026 Day 200:00 - Piriya Sambandaraksa05:14 - Alexander Mann11:04 - Shone Anstey of LQWD17:03 -Liam Eagen from Ideal GroupLinks: https://x.com/piriyahttps://x.com/idealgrouphttps://x.com/liameagenhttps://x.com/LQWDTechhttps://x.com/shoneansteyhttps://x.com/alex_singh_mannStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, I interviewed several people at Bitcoin Asia 2026.Timestamps:00:00 - Interview with Adam Poulton06:28 Interview with Giovanni Santostasi15:18 Interview Jeff Walton of Strive34:11 Interview with Alex B from ArkLabsLinks: http://x.com/Giovann35084111http://x.com/adampoultonhttp://x.com/bergealex4http://x.com/arklabshqhttp://x.com/punterjeffhttp://x.com/striveStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, Piers Macrae demonstrates Wallet Playground and explains why hardware wallets are signing devices, not wallets.Timestamps:01:10 — Teach Me vs Do It For Me03:23 — Test Any Wallet Free in Browser09:09 — Coldcard Drama Forced Early Release14:03 — Generate Seeds Using Your Webcam17:52 — Hardware Wallets Aren't Real Wallets21:52 — Only 1% Use Multisig for Life Savings25:33 — Self-Custody Like Firearms Drilling?27:30 — Only Tiny Percentage Will Self-CustodyLinks: X: @mineracks — https://x.com/mineracksWallet Playground: https://walletplayground.com/mineracks: https://www.mineracks.com/Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, Keith Mukai of SeedSigner joins to explain why 1.4 percent variance in cheap dice still delivers full 128-bit entropy and how to verify rolls across devices.Timestamps:03:10 — Cheap Dice Only 1.4% Unfair?06:29 — Shake Multiple Dice in a Box08:26 — Verify Dice Rolls Across Devices11:02 — Verify Dice Seeds With Fake Rolls13:50 — Multiple Test Rounds Foil Attackers16:36 — 90% Users Choose Easy RNG Mode19:08 — Jade's D&D Dice Method?21:53 — Build Your Own: Avoid Mailing List Leak24:48 — Stateless Device: Evil Maid Gets Nothing26:45 — Hand-Drawn SeedQR: Skip Typing 24 Words29:02 — SeedSigner: Built for Long-Term Cold Storage31:30 — Evil Maid SD Card Swap Destroys Security35:27 — Why Multisig Beats Single-Sig + Passphrase37:14 — Scan Sparrow PDF QR to Load Multisig42:16 — No One-Size-Fits-All Security46:41 — Understand Dice Rolls Yourself49:13 — Take Baby Steps to MultisigLinks: https://seedsigner.com/https://x.com/keithmukaihttps://x.com/SeedSignerStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, Rich from the team at Blockstream explains Jade, offline dice entropy, blind oracle protection, multisig descriptor recovery and the new Blockstream Swaps beta.Timestamps:00:45 — AI Scans & Audits Secure Jade03:21 — Jade Core $99, Plus Up to $16905:51 — Roll Dice for Offline Seed Entropy08:23 — Blind Oracle: Remote Secure Element Explained11:15 — Seed QR: Hand-Draw Your Recovery Phrase15:24 — Jade Sends Back Lost Multisig Descriptor19:40 — People Choosing Multisig Over ETFs25:03 — Blockstream Swaps Beta: Lightning to LiquidLinks: blockstream.com/jade https://x.com/blockstreamhttps://x.com/blockstreamjadeStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

Lightning Labs built Wavelength to deliver self-custodial Lightning payments without forcing users to run nodes, manage channels, or handle liquidity.Olaoluwa Osuntokun, CTO and co-founder of Lightning Labs, and Michael Levin, VP of Product, join me to detail the design choices behind their Ark implementation.They explain why Ark was selected, how hop hints let every payment use ordinary Lightning invoices, and why the four-endpoint SDK targets AI agents and vibe coders. The conversation covers sub-dust vouchers, unilateral exits, offline payment delivery, and one-basis-point alpha pricing.Wavelength shows that self-custodial Lightning can match the integration ease of custodial services while preserving Bitcoin sovereignty.Timestamps01:28 — Why Wavelength: Lightning Without Node Pain03:00 — Why Ark? 05:28 — No New Addresses: Just Lightning Invoices08:40 — Targeting Vibe Coders & AI Agents13:06 — Lightning Beats Credit for LLM APIs17:51 — Receive Sub-1k Sat Vouchers Seamlessly19:32 — Normal User Spins Up Ark Wallet Fast23:02 — Build Wallets with Just 4 Endpoints24:46 — Telegram Self-Custodial Wallets Already Live26:21 — Offline Payments Still Arrive Automatically29:17 — Drop-In SDK for iOS and Android31:26 — Can Servers Steal Your Funds?33:36 — Wavelength Alpha: Just 1 Bip Fees37:57 — AI Attacks Targeting Bitcoin Services?44:05 — Bug Bounties Shift to Token Spending48:36 — Self-Custody as Easy as CustodialLinks: https://x.com/roasbeehttps://x.com/MichaelLevinWavelength Announcement: https://x.com/lightning/status/2079620936567779707Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

Old self-custody approaches collapse once Bitcoin reaches six figures, physical threats rise, and AI tools proliferate. Single hardware wallets and mattress myths no longer match the scale or risks that large holders now face.Michael Tanguma, CEO and co-founder of Onramp, returns to examine how custody must adapt to family obligations, mortality, and market structure that turns concentrated holdings into targets.The discussion covers why repeated exchange failures keep Bitcoin looking speculative to outsiders, how multi-institution setups reduce scam ROI, and the limits of adding more dice or vendors in an AI era. It also addresses custody pricing models and the practical question of whether any current setup survives a tenfold price increase.Game theory now requires diversified institutional layers rather than pure self-reliance for serious stacks.Timestamp:03:43 — Bitcoin Custody Won't Work Like 201205:49 — Self-Custody Rules Changed With Your Life07:19 — Why Bitcoiners Must Stop the Mattress Myth09:01 — Bitcoin's Asset Layer Makes It Unstoppable11:22 — Private Keys Are Like Firearms15:40 — Custody Losses Keep Bitcoin Speculative18:56 — AI Just Changed Self-Custody Forever21:41 — Why Bitcoin Robberies Are Skyrocketing25:41 — Multi-Institution Custody Kills Pig Butchering27:57 — Bitcoin at $650K: Security Nightmare?29:30 — Game Theory Demands Multi-Custody Bitcoin32:03 — Centralized Custody: The Honeypot Risk37:56 — Why Custody Fees Should Be Zero39:51 — Full Bitcoin Custody for $100/Month42:51 — Would Your Setup Survive 10x Bitcoin?Links:https://x.com/mtangumahttps://x.com/OnrampBitcoinStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack#Bitcoin #SelfCustody #Custody #OnrampBitcoin #StephanLivera #StephanLiveraPodcast #BitcoinSecurity #MultiSig

Roy Sheinfeld of Breez returns to walk through Glow, the team's new reference wallet built using Spark. It’s designed so non-custodial Bitcoin feels simple: send, receive, and go.Glow uses passkey onboarding (no seed phrase to write down), automatic backup via the passkey provider, and a single-balance UX so users can pay Lightning, on-chain, and stablecoin destinations without wrestling settings.They also cover client-side swaps (Flashnet, multi-vendor architecture after Boltz), AI-driven attacks on swap providers, where Lightning volume actually comes from, Spark unilateral exits, and how AI plus the Breez SDK lets non-developers ship Bitcoin apps from a prompt.Timestamps04:21 — Bitcoin Wallet Onboard with One Passkey08:05 — Stables on Lightning: Overhyped?09:59 — Swaps Needed Even With Lightning Stables11:48 — AI Attacks: Cheaper to Attack Than Defend15:07 — Why Small Teams Get Hacked First17:15 — Swaps Going Private to Survive?19:17 — Backends Drive Most Lightning Volume21:32 — 80/20 Rule: B2B Drives Lightning Volume25:13 — Making Unilateral Exit Economically Viable29:48 — Spark Public Mode31:38 — One Prompt Builds a Bitcoin App33:13 — Non-Technical Users Now Ship Bitcoin AppsLinks: https://x.com/roy_breezhttps://x.com/breez_techhttps://breez.technology/glow/Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, Nick Neuman of Casa argues that it’s not the end of self-custody. Instead, it highlights why multisig with multiple vendors provides stronger protection without the hidden complexity of passphrases or dice rolling for single sig setups.Timestamps:03:12 — Not the End of Self-Custody06:14 — Single Sig Is Actually More Complex08:45 — Multisig Simpler Than Secure Single Sig15:37 — $1K Single Sig, $10K Multisig?17:32 — Casa's $250 2-of-3 Multisig Plan20:01 — Private Clients Get Dedicated Advisors22:21 — Bitkey vs Casa27:36 — Going Closed Source Versus AI Attacks30:23 — AI Code Audits Now Cost $1K33:04 — Auto-Rejecting Unknown Callers Saves You34:35 — Guardian Mode Requires Video VerificationLinks: https://x.com/Nneumanhttps://x.com/CasaHODLhttps://casa.io/Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

Kruw (@kruwed) runs one of the highest-volume WabiSabi coordinators, giving him direct insight into how the protocol handles liquidity, Sybil resistance, and real-world usage.Timestamps:00:42 — Wasabi 2.8 Privacy Features 02:45 — Taproot As Wasabi's Default Address07:25 — Pay Inside CoinJoin Saves 40 Minutes10:26 — Auto CoinJoin 12:21 — WabiSabi Blocks Whale Sybil Attacks14:31 — Payjoins16:37 — ClusterMempool Wins for CoinJoins20:00 — Upcoming forks21:14 — CoinJoin: Free Replay Protection Hack22:53 — CoinJoin Ban Myth Debunked25:41 — Black Hole: Earn While MixingLinks: https://x.com/wasabiwallethttps://x.com/Kruwedhttps://wasabiwallet.io/Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, Mike Schmidt executive director of Brink, and volunteer coordinator for the consortium, explains how the group formed, autonomy over funding, and how it plans to avoid repeating earlier centralized roadmap fights.Timestamps:00:55 — Quantum Risk and the Consortium Pledge03:10 — The Nine Consortium Members11:40 — Publishing Quantum Research Publicly13:39 — Brink Role and Funding Concerns16:20 — Defining Early Success Metrics19:00 — Informing the Public on Quantum Progress21:17 — Institutional Influence and Protocol Concerns25:13 — Research First on Quantum Signatures29:25 — Expanding Quantum Expertise33:14 — Scope Beyond Quantum Security35:31 — Why Quantum Motivates Corporate Involvement37:43 — Debates Over Development Funding40:30 — No Protocol Roadmap From the Consortium42:57 — Three-Year Goal: Mature ProposalsLinks: Press release: https://www.strategy.com/press/leading-financial-institutions-bitcoin-companies-launch-the-bitcoin-security-consortium_07-23-2026Mike’s thread: https://x.com/bitschmidty/status/2080263159152091455Consortium X: https://x.com/BTCconsortium Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

Buchner, known for his work on decentralized identity at Proof, brings a technical and game-theoretic lens to the debate over Bitcoin's monetary focus versus attempts to restrict arbitrary data.The conversation covers narrative shifts driving spam to Bitcoin, the limits of relay policy versus consensus rules, why the house analogy fails, economic node power over basement operators, and the lack of miner or buyer support that dooms the proposal.Timestamps:01:31 — Locusts Flock to Bitcoin's Last Pasture03:32 — Core Policy Tweaks Aren't Consensus Rules08:44 — Spam Hides in Any Public Key or Hash11:12 — Spammers Adapt in a Day, Consensus Can't14:59 — BIP110 Debate Exposes Major Inconsistency20:44 — Why the House Analogy Totally Fails25:25 — Nodes Get Cheaper Even With Max Spam28:08 — Set Tolerances Assuming Worst Case30:35 — No Legal Liability for Bad Chain Data33:04 — Filter Regime Creates Government Backdoor35:13 — BIP 110 Risks Centralizing Devs Around Luke37:33 — Economic Incentives Trump 'Good Guy' Miners39:03 — Economic Nodes Outweigh Basement Node Runners43:49 — BIP 110 Has Near-Zero Economic Support48:43 — Why Game Theory Kills BIP 11055:52 — BIP 110 Fork Dies With a WhimperLinks: https://x.com/csuwildcatStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

Lyn Alden warns that BIP 110 is unlikely to curb spam and instead mostly rearranges non-monetary data, raising the risk of a minority fork attempt that could split the Bitcoin chain.Lyn Alden is a leading macro analyst and Bitcoiner who examines how fiscal dominance now overrides traditional monetary policy tools.She breaks down why high debt-to-GDP ratios prevent rate hikes from taming inflation, how broad money supply still expands 5-8 percent annually, the limits of semiconductor and AI valuations, and the structure of a new Bitcoin-backed permanent capital vehicle for acquiring cash-flowing businesses.Timestamps:02:14 — BIP 110 Won't Stop Spam04:56 — Bitcoin Faces August Chain Split Risk12:12 — Bitcoin in Bottom Decile of Cycle15:37 — Nothing Stops This Fiscal Train18:04 — Why Volcker Can't Work Today22:02 — Higher Rates Won't Break the System24:44 — Net Issuance Matters, Not Gross Refi27:34 — Fed Balance Sheet Stays Flattish32:56 — Broad Money Grows Despite Flat Fed36:05 — US Money Supply Growth Hits 5-8%38:51 — Fiscal Dominance: Who Wins the Money?41:50 — Why Semiconductors Print Money45:13 — Software Stocks: Value Trap or Opportunity?47:31 — AI Is the New Dot-Com Bubble52:00 — Orange Juice: Bitcoin-Backed Business Buyer57:57 — Permanent Capital Vehicle, Not a Fund59:39 — Founders Keep Equity Upside After SaleLinks:  X: https://x.com/LynAldenContactWebsite: https://www.lynalden.com/0BIP 110 debate ("motte-and-bailey" critique): https://x.com/LynAldenContact/status/2078599151043162159 Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

Bitcoin desire sentiment has fallen to an eight-year low, a contrarian signal that historically aligns with market bottoms rather than tops.Michael Sullivan, an engineer and author, applies machine learning to individual X accounts to track granular Bitcoin emotions and moods over time.He examines how entry eras shape lasting narratives, why pro-BIP 110 cohorts show strikingly low conviction, how individual tracking avoids bot pollution, and why boredom plus infighting often mark optimal accumulation zones.Timestamps:01:44 — Conviction Isn't Bullish or Bearish07:05 — Why Individual X Tracking Beats Bots09:53 — Desire Peaks Flag Bull Market Tops11:49 — Bitcoin Desire Hits 8-Year Low16:27 — New Bitcoiners Angriest Right Now21:00 — Bitcoin Entry Era Shapes Your Views Forever?22:48 — BIP 110 Backers Show Strikingly Low Conviction25:33 — Pro-BIP 110 Group Lives in Its Own Bubble28:39 — BIP110 Brigading Creates Fake Consensus31:57 — OGs Optimistic, Plebs Stay Angry37:13 — X Algo Shift Sparks Bitcoin Optimism39:57 — Why Sentiment Metrics Fail for Trading41:55 — Boredom and Infighting Signal Bitcoin BottomLinks: Michael's X: https://x.com/SullyMichaelvanBitcoin Sentiment Weekly on Substack: https://sentimentsully.substack.comMichael’s novel, Blood of the Bourgeoisie: https://www.amazon.com/Blood-Bourgeoisie-Michael-R-Sullivan-ebook/dp/B0FRZTM49YStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

Even as ETFs and MicroStrategy sell into weakness, natural spot demand has kept Bitcoin from collapsing in what may be the shallowest bear market on record. The real test now is time pain, the grinding boredom that forces out remaining weak hands after the initial price capitulation.James Check, founder of Checkonchain.com, joins me to break down the current cycle through on-chain data and market psychology. His framework distinguishes price pain from the subsequent time pain that historically marks the true bottom.Checkmate examines why short-term holders flipped into high-conviction buyers, why 53K realized price now acts as a floor, the Pareto distribution among Bitcoin treasury companies, and why most copycat strategies will fail in the months ahead.Timestamps:00:56 — Last Day of Bear Feels Worst03:26 — Time Pain Grinds Out Weak Hands05:53 — Shallowest Bear Market Ever Seen08:53 — Spot Buyers Saving Bitcoin From Zero11:14 — Short-Term Holders Are Now Smart Money15:28 — July Bear Bottom: 8-Method Average18:50 — 53K Realized Price Now the Floor23:00 — Buy Bottom 15% and Just DCA28:30 — The AI Trade30:46 — Bitcoin and Gold Share a Rare Moat35:23 — Will Most Bitcoin Treasuries Fail?37:37 — MSTR's Sale of Bitcoin41:28 — Bitcoin Treasuries Follow Harsh Pareto Rule47:30 — Bitcoin Treasuries Next Cycle49:05 — High-Yield Trap?Links: https://x.com/_Checkmatey_https://x.com/_checkonchaincheckonchain.comhttps://charts.checkonchain.comhttp://newsletter.checkonchain.com/Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack#StephanLivera #StephanLiveraPodcast #Bitcoin #BearMarket #OnChain #Checkmate #TimePain #RealizedPrice #BitcoinTreasury #MarketCycles

Radar integrates self-custodial Bitcoin payments directly into Signal's messaging network, eliminating the need for separate apps or custodians when sending value to contacts.Seth for Privacy, from the Cake Wallet team, explains how Radar targets everyday users rather than Bitcoin maximalists by preserving Signal's privacy model while adding instant Lightning-enabled transfers via Spark.The discussion covers seamless account migration from Signal, offline payment receives, wallet risk limits for non-critical funds, and the decision to pursue VC funding through a separate entity.Timestamps:00:49 — Why Messaging & Payments Stay Separate03:34 — Migrate Signal Account Without Losing Data08:18 — Send Bitcoin Instantly With One Tap10:10 — Receive Payments Completely Offline11:40 — Bitcoin for Everyone, Not Just Bitcoiners14:21 — Don't Put Life Savings in Hot Wallet17:10 — Signal Can't See Your Bitcoin Payments19:13 — Donating Monthly to Signal Foundation22:48 — Radar Takes VC Path Unlike CakeLinks: Radar Chat: https://radar.chat@SethForPrivacy: https://x.com/sethforprivacyCake Wallet: https://cakewallet.comStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

Payjoin delivers transaction batching driven by real economic activity rather than waiting for pool participants, while also cutting fees through direct net settlement between counterparties.Dan Gould, maintainer of Payjoin DevKit, explains how the new async protocol and oblivious HTTP relay change what is practical for mobile wallets today.The conversation covers current live deployments in Bull Bitcoin and Cake Wallet, remaining fingerprinting heuristics beyond common input ownership, the multi-party roadmap, and how developers can integrate the library with under ten thousand lines of code.Timestamps:00:00 — Payjoin DevKit01:46 — Live Payjoins in Wallets Today04:25 — No Waiting for Batch Pools06:14 — Payjoin Works on Mobile Phones08:29 — Oblivious HTTP Hides Your IP10:05 — Fingerprinting Still an Issue?14:02 — Net Settlement Saves Big Fees15:36 — Multi-Party Payjoin Roadmap17:10 — Build Payjoin in a WeekendLinks: https://x.com/brian_trollz/status/2069465912143749462 https://github.com/payjoin/payjoin.org/pull/143 https://payjoindevkit.org/ https://x.com/bitgouldStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

A South African circular economy is already running real payments on Fedimint with seven guardians on Start9 boxes. Users send eCash with zero fees inside the federation and feel the same simplicity as Wallet of Satoshi—except the custody is local and the privacy model is different.Hermann and Joshi explain how non-technical guardians set up 5-of-7 multisig, how the Conduit wallet hides complexity, and why Fedimint beats Liquid on on-chain integration and local trust. They also cover Lightning gateway economics and why small federations may beat one global Spark.Bitcoiners exploring Lightning, eCash privacy, and circular economies in emerging markets should listen.Key Takeaways:Seven-guardian 5-of-7 multisig on Start9 now runs daily in South Africa with high reliability.Users inside the same federation enjoy true zero-fee eCash transfers.Conduit wallet offers a lighter, payments-focused alternative to Fedi with regional QR support.Migration between federations is smooth with parallel running and user-controlled timing.Fedimint severs the transaction graph for privacy while Liquid hides amounts but retains the graph.Local guardians reduce the “custodial guilt” felt when onboarding users to foreign services.Lightning gateways can become profitable side businesses with only a few hours of monthly work.Geographic spread of guardians improves resilience against local internet or power outages.Onboarding still requires one extra step—joining the federation—after app install.Fedimint is on-chain native, allowing direct receive and send without intermediate swaps.Timestamps:00:00 - Fedimint Goes Live in South Africa01:48 - Magic: Pay Across Africa04:15 - Onboard Users Without Custodial Guilt08:08 - Zero Fees Shock Rural Users11:04 - Liquid vs Fedimint Privacy Showdown13:32 - Many Small Federations Or Global Spark16:09 - Non-Techies Run Bitcoin Guardians Easily18:14 - 5-of-7 Multisig Survives Two Failures20:53 - Fedimint QR Is a 5-of-7 Multisig24:05 - Gateway: Profitable Hobby in Hours/Month31:06 - Trust Locals Over Anonymous Custodians34:55 - Spread Guardians to Survive OutagesLinks: Bitcoin Ekasi: https://bitcoinekasi.orgFedimint: https://fedimint.orgConduit Wallet: https://joschisan.github.io/conduit/SLP651 with Eric & Joschi: https://stephanlivera.com/651Follow Hermann: https://x.com/vryfokkenouFollow Joschi: https://x.com/joschisanbtcStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode,  NVK rejoins me to discuss the latest developments in Bitcoin self-custody, hardware wallets, and privacy solutions, providing valuable insights for enthusiasts and practitioners alike.Timestamps:00:00 Quarterly Self-Custody Update01:28 Sparrow Wallet Update & Silent Payments05:41 Coldcard MK5 & Recent Firmware Updates07:53 The Evolution of Co-signing & MuSig211:58 Liana & Nunchuk Wallet Updates17:16 Cove, BlueWallet & Mobile Wallet Progress19:09 BitKey V2 & Pragmatic Self-Custody22:55 Open Hardware Wallet Project Updates27:15 Merchant Payments & Bitcoin Commerce31:19 Stable Balance Wallets & Self-Custody36:38 Hardware Wallet Security Updates39:07 ARCA: Personal Data Haven ExplainedLinks: Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, Alejandro De La Torre, CEO of @DMND_Sv2, joins me to discuss the mining of Bitcoin block 955,318 — the first known Stratum V2 block on mainnet.We break down what happened, the benefits of Stratum V2, how it improves efficiency and we talk about SV2 adoption more broadly.A great episode for anyone who wants to understand where Bitcoin mining is heading.Timestamps:00:00 The First Stratum V2 Block: What Happened?01:08 How Does Miner Transaction Selection Change Bitcoin Mining?01:58 Can SV2 Mining Pools Still Reject Blocks Though?03:19 Can Miners Easily Switch Pools with Stratum V2?04:45 Major Mining Pools Joining the Stratum V2 Working Group05:40 Hardware & Firmware Support for Stratum V207:43 Is Miner Interest in Stratum V2 Growing?09:00 The Biggest Benefits of Stratum V2 for Miners10:21 How Does DMND's SLICE Payout System Compare to FPPS?11:50 What Needs to Happen for Stratum V2 to Become the Standard?13:21 Should Miners Start Building Their Own Block Templates?Links: Alejandro’s announcement post: https://x.com/bitentrepreneur/status/2070131040992035235DMND Pool: https://www.dmnd.workAlejandro on X: https://x.com/bitentrepreneurStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, Adrian Morris joins the show to discuss Bitcoin Treasury Companies. We explore whether MSTR and STRC are over, sustainable mNAV premiums, the impact of leverage, the right way to calculate mNAV, how many such companies can realistically exist, and how this space evolves through bull and bear markets.Timestamps:00:00 What are Bitcoin Treasury Skeptics Getting Wrong?03:55 Is it over for STRC? Par vs Peg06:30 The level of correlation to Bitcoin price07:10 Critiques of STRC marketing?09:02 Market Dynamics and Bitcoin Correlation10:50 Should Strategy Do Something About STRC?13:55 Is it a waiting game?14:40 Is the bitcoin treasury risk mispriced? When is a premium justified?19:26 Leverage or Amplification embedded in the structure24:10 Operating or Financing Flows to Get Bitcoin?26:15 mNAV29:12 Thoughts on CEBE Analysis32:30 Different forms of mNAV36:12 Sentiment’s role is amplified40:32 “Just Tread Water and Survive Until the Bull”42:47 Will the Correlation to Bitcoin Price increase over time?46:18 Growth Opportunities: Mergers and Acquisitions 48:23 The Bitcoin Treasury Model - How Replicable is it?51:50 Where are we in this cycle?53:42 AI Analysis: Tools and Techniques for Investors58:55 Is AI being overbuilt? 1:01:40 Open Weights and Local AI?Links: Adrian on X: https://x.com/_AdrianTrue North: https://tnorth.com/Bitcoin For Corporations: https://bitcoinforcorporations.com/Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, Craig Raw returns to discuss Sparrow’s Silent Payments and Frigate integration, where multisig UX stands in 2026, his thoughts on building Bitcoin wallet software solo, and the ongoing challenges of distribution and platform risk.We discuss:Silent Payments and their impact on privacy and UXPlatform risks and the importance of pragmatic developmentStandards and interoperability in Bitcoin walletsThe future of multi-sig UX and hardware wallet supportCryptographic innovations like Frigate for scalable scanningTimestamps:00:00 - Intro and Apple’s Walled Garden05:30 - Pragmatism in Bitcoin06:30 - Silent Payments: A New Era for Bitcoin Transactions08:40 - Biggest Challenge in Bitcoin Privacy today12:03 - Why Address Re Use is so prevalent today13:40 - Contrasting Silent Payments and Lightning Address16:00 - The Benefits of Silent Payments Far Outweigh Incremental Complexity19:00 - The Future if the Bitcoin Community Doesn’t Move on this22:45 - Privacy vs Convenience25:40 - Putting SP and Lightning Address together28:30 - The Scanning Challenge for SP and Frigate37:20 - Hardware Reqruirements for Frigate41:00 - Can Hardware Wallets Support SP?49:55 - Bitcoin Multi Sig in 202651:30 - Craig on Miniscript use - Inheritance, Timelocking53:20 - Miniscript refresh privacy concern55:30 - Miniscript for managed solutions59:00 - Multi Sig Quorum Registration1:01:00 - Mixed Vendor Multi Sig setups1:04:00 - Wallet Labelling BIP1:06:44 -  Bitcoin Adoption: Balancing Purism and Pragmatism1:09:00 - What to do about bad regulations or laws? 1:12:00 - Could Government Target Silent Payments?1:13:39 -  Sustainability of Sparrow Wallet DevelopmentLinks: https://x.com/SparrowWallethttps://x.com/CraigRawsparrowwallet.com Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, Jesse Schrader (Jestopher), CEO of Amboss, joins us to break down RailsX — their new Lightning-native DEX.We discuss:🔸How traders and liquidity providers use RailsX🔸The costs and benefits for both sides🔸Current Lightning routing volumes and growth trends🔸The state of Lightning yield and how it compares to other players🔸The recent BitGo Lightning Earn partnership🔸A quick update on Magma🔸A high-signal look at where Lightning yield, stablecoins, and institutional adoption are heading.Timestamps:00:00 - What is RailsX? Taproot Assets on your LN node01:09 - The trader end user POV02:45 - USDT by @speed_LN03:50 - What are the trading fees? Trade sizes?06:20 - Liquidity provider POV08:00 - DIY or managed service?09:20 - How much yield do liquidity providers get?10:37 - BitGo Lightning Earn partnership11:23 - The state of Lightning yield today and lightning activity12:37 - Update on Amboss Magma - Liquidity Leasing15:10 - Lightning Volume is Growing Even in a Bear MarketLinks: https://amboss.space/https://amboss.tech/railshttps://amboss.tech/magmahttps://x.com/Jestopher_BTCStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this urgent 15-minute conversation, Stephan speaks with Ricki Allardice, one of the leaders of the Property Rights Defense Group, about South Africa’s Draft Capital Flow Management Regulations 2026 — the most serious threat to Bitcoin self-custody the country has seen.Ricki breaks down exactly what the draft rules would do to private keys, self-custody, and everyday Bitcoiners, where the process stands right now, and what the community can still do before the 30 June 2026 public comment deadline.Timestamps:(00:00) - Overview of the Regulation Against Self Custody(04:07) - Public Consultation Process (05:49) - Can it be challenged?(07:20) - It’s About Capital Controls(08:02) - AML, Sanctions, FATF (10:46) - What does it mean for Bitcoiners in South Africa?(12:22) - Safety or Security concern here?(14:22) - Call to Action and Support for Legal DefenseLinks: Site: propertyrightsdefense.orgX: https://x.com/PRDG_ZA Donate: https://btcpay386617.lndyn.com/apps/4TcSxV6dNFYzb1DBDthPL89Tjz72/crowdfund?ref=propertyrightsdefense.org Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

Matt McClintock (Founder & CEO of Bespoke Group) returns to the show alongside Alla Futterman (Associate Client Relationship Manager & Head of Philanthropy Operations) fresh off his main-stage talk at BTC Prague 2026 titled “Using Bitcoin to Change the World.”In this deep dive, we explore how ultra-high-net-worth Bitcoiners and their families are moving beyond simple HODLing to become active stewards — deploying Bitcoin through sophisticated, values-aligned philanthropy to solve real problems (landmine clearance, human trafficking recovery, wildlife protection, cultural preservation, and more).We unpack Bespoke Group’s “Wealth Operating System,” sovereign estate planning for bearer assets, tax-efficient giving structures, next-gen involvement, the mindset shift from ownership to “this wealth has been entrusted to me,” and practical advice for Bitcoiners at every level who want their capital to outlive them and actually improve the world.If you’ve ever wondered how to turn Bitcoin conviction into lasting generational impact while keeping sovereignty and privacy intact, this is the episode.Timestamps:(00:00) - Introduction to Bitcoin Philanthropy(06:38) - Tax-Efficient Philanthropy Strategies(13:07) - Charitable Structures for Bitcoin(20:22) - Mindset Shifts in Bitcoin Philanthropy(27:22) - Wealth Stewardship and Bitcoin(32:13) - Challenges in Bitcoin Philanthropy(37:23) - Engaging the Next Generation in Philanthropy(39:49) - Practical Tips for Everyday Bitcoiners  Links: Bespoke Group → https://bespokegroup.io/Matt’s article: “How Bitcoin Wealth is Changing the World” (June 2026)Alla’s article: “Philanthropy as Wealth in Motion”https://x.com/mcclintock_mStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, we sit down with Adam Juchniewicz of Bitcoin Passport Index and Bitcitizen to discuss Bitcoin sovereignty, jurisdictional arbitrage, and how Bitcoiners should think about second passports and residencies.We dive into the Bitcoin Passport Index, why Bitcoin-friendly tax and legal treatment matters more than most people realize, and how the landscape for citizenship and residency programs is rapidly changing.Adam also breaks down his fast-track Vanuatu citizenship program and his full-service approach to helping Bitcoiners build a proper sovereign stack — from companies to passports to, in some cases, full exits.Timestamps:(00:00) - Bitcoin Passport Index(03:21) - How do you balance mobility against Bitcoin sovereignty?(05:45) - How will CARF and global reporting change the game?(08:41) - Vanuatu CBI program(11:17) - Vanuatu compared with cheaper options like Sao Tome and Principe?(13:27) - “citizen, not tourist” approach(14:55) - Final advice for BitcoinersLinks:Bitcoin Passport Index: https://bpi.21cbi.ioBitcitizen: https://www.bitcitizen.ioVanuatu Citizenship Program: https://cbi.vuStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

Steven Roose (CEO of Second) rejoins me to explain Bark going live on Bitcoin’s main net. Timestamps:(00:00) - Bark mainnet launched on June 9th(02:01) - Bark and Lightning onboarding(03:30) - Ark compared to Lightning — replacement or teammate?(04:15) - User experience with Bark(05:54) - Developer experience with Bark SDK(08:04) - Barkd for merchants and services(08:56) - Dev tooling and VTXO Inspector(10:40) - What's the current status of adoption and what's coming next?Fees? (13:25) - Tx type overviewLinks:https://second.tech/https://x.com/stevenroose3 https://x.com/secondhqStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, NG Zhang, founder and CEO of Canaan Inc., shares his journey in Bitcoin mining technology, from early ASIC development to modern innovations like heat reuse and energy integration. We talk about the evolution of mining hardware, industry trends, and future prospects.Timestamps:(00:00) –  Intro and Early Days of Bitcoin Mining(03:40) –  From FPGA to ASIC Technology(06:22) –  The Avalon A16 Series(09:07) –  Reliability and Durability of Mining Machines(12:15) –  Failure Rates and Useful Life(14:40) - Primary Market and Secondary Market for Mining(16:40) –  Small Scale vs. Large Scale Mining(22:00) - What % is home mining today?(23:00) - Heat Recovery(29:00) - Different methods of cooling in Bitcoin Mining(31:40) - Mining machine form factor(32:40) - Stratum V2 Support?(37:35) - Market Dynamics: Public vs. Private Miners(39:50) –  Energy Grid Integration and Bitcoin Mining(44:25) - Efficiency gains are slowing down in bitcoin miningLinks: https://www.canaan.io/Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, I caught up with Will Cole from Zaprite, Alex Bragin (Jan3), Nathan Day from BTCMap, Philipp (Satora), and Skot 9000 (BitAxe/SHA256) while at BTC Prague 2026.Timestamp:(00:00) – Interview with Skot9000 of (SHA256)(09:01) – Interview with Alex Bragin of JAN3 (20:35) – Interview with Will Cole of Zaprite(28:45) – Interview with Philipp of Satora.io(39:33) – Chris Seedor of Seedor.io(46:23) – Nathan Day of BTCMapLinks: Philipp: https://x.com/bonomatChris: https://x.com/coinjoined Will Cole: https://x.com/willcoleAlex: https://x.com/BraginRightsSkot9000: https://x.com/skot9000Nathan Day: https://x.com/nathan_dayJAN3: https://x.com/JAN3com BTCMap: https://x.com/BTCMapSatora: https://x.com/satora_ioZaprite: https://x.com/ZapriteAppSHA256: https://x.com/sha256Seedor: https://x.com/seedor_ioStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, industry experts discuss the latest developments in Bitcoin treasury strategies, Lightning Network innovations, and market outlooks amid macroeconomic uncertainties. Gain insights into hardware wallets, stablecoins, and the future of Bitcoin adoption.Timestamp:(00:00) – Interview with Freddie New from BHODL(08:47) - Interview with Nick Farrow from Frost Snap(21:27) - Interview with Tony Klausing from Stable Channels(26:41) - Interview with André Dragosch from Bitwise(39:35) - Interview with Sam Callahan from Oranje BTCLinks: https://x.com/freddienewhttps://x.com/UTXOClubhttps://x.com/tonklaushttps://x.com/Andre_Dragoschhttps://x.com/SamCallahStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, Chris Ritter joins me to discuss Lightning Network economics, yield opportunities, network centralization, and the rapid growth of Lightning payments. We explore who captures value in the Lightning Network, security considerations for routing nodes, and what recent data reveals about the future of Bitcoin payments.Timestamp:(00:00) – Introduction to Lightning Economics(04:23) – Understanding Bitcoin Treasury Strategies(09:08) – The Evolution of Lightning Network Routing(14:45) – Growth and Volume in the Lightning Network(19:57) – Centralization Trends in the Lightning Network(25:08) – Security Considerations in Lightning Routing(29:18) – Yield Generation in Lightning Network(35:05) – The Future of Payments and AI in Lightning(41:34) - Closing ThoughtsLinks: https://zeusln.com/https://freecritter.xyz/https://x.com/ZeusLNhttps://primal.net/freecritterReport: https://zeusln.com/Lightning_Economics_Report_April_2026.pdf Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe

In this episode, PakoVM joins me as we discuss the security challenges facing Bitcoin users, from scams and self-custody risks to the trade-offs of convenience versus sovereignty. The conversation explores emerging Bitcoin protocols such as Ark and Spark, the role of Linux and open-source hardware, advancements in wallet design, privacy, inheritance planning, and whether stablecoins and Bitcoin-native financial infrastructure can accelerate global adoption.Timestamp:(00:00) – Introduction (05:24) – Navigating Scams in the Bitcoin Space(10:16) – The Rise of Linux and Desktop Alternatives(15:18) – Bitcoin Technology: Lightning, Ark, and Beyond(30:27) – Bridging Traditional Finance and Bitcoin(35:10) – Bitcoin as a Medium of Exchange vs. Store of Value(39:22) – Stablecoins and Their Role in Bitcoin Ecosystem(41:50) – Wallets and User Experience in Bitcoin Transactions(44:23) – Community Perspectives: Bitcoin Only vs. Multi-coin(46:14) – Global Perspectives on Bitcoin Adoption(50:17) – Future of Bitcoin Technology and User Adoption(01:02:18) – Privacy Solutions and User Experience in Bitcoin(01:08:21) – Closing thoughtsLinks:https://x.com/PakoVMhttps://blog.bitbox.swiss/en/transferring-bitcoin-without-actually-moving-it-explaining-how-statechains-work/https://pakovm.substack.com/p/ark-and-the-train-analogy-a-guide Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, Stephan sits down with Arbedout to explore one of the most debated technical topics in Bitcoin today: covenants, vaults, and the future of Bitcoin custody infrastructure.They discuss why many people may be misunderstanding where the real demand for covenants comes from, and how covenant-related features could improve Bitcoin self-custody through vaults, spending limits, recovery mechanisms, and more secure long-term storage setups.The conversation also explores Bitcoin adoption, conviction, long-term store of value dynamics, and the psychological challenges of holding Bitcoin through volatility.Timestamp:(00:00) – The privacy problem with co-signing today(03:25) – What does Sigbash allow us to do?(08:15) – What is Oblivious Signing? (12:20) – Privacy, Regulation, and Reducing Multisig Honeypot Risks(15:10) - What does Sigbash use look like in practice? Inheritance, Vaults, and Multisig(19:50) - Can the server grief the user?(21:10) – Mobile Wallets, Assisted Self-Custody, and NeoBank Possibilities(25:50) - Sigbash project and product(28:29) – Sigbash vs PIPES vs BinoHash Explained(33:01) – Covenant Demand, Bitcoin Security, and the Future of Self-Custody(36:33) – Closing ThoughtsLinks: https://sigbash.com/https://x.com/arbedoutStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, Sanjay Mavinkurve and Chase Palmieri join me to discuss Sovana, a groundbreaking product that allows property owners to leverage their real estate equity to gain Bitcoin exposure without traditional debt. They explore the product's mechanics, target audience, market timing, and future potential, providing insights into how real estate and Bitcoin markets intersect.Timestamps:(00:00) - Introduction(02:50) - The Problem with Home Equity and Bitcoin(06:38) - How Sovana Works(11:10) - What if Bitcoin is down in 5 years?(14:55) - Is this only for people who are already HODLers?(17:25) - Why TradFi can’t ignore Bitcoin anymore(19:17) - Would a 10 year period be possible in future?(26:35) - Comparing Sovana to Traditional Financing(29:05) - What about Capital Gains taxes?(32:55) - Real Estate vs. Bitcoin Performance(39:37) - Bridging the Gap: Conviction and Capital(47:55) - Closing ThoughtsLinks: https://x.com/SovanaHQhttps://x.com/sgmavinkurvehttps://x.com/chasepalmierihttps://www.sovana.io/Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, we explore the latest in Bitcoin security with NVK, including the new MK5 device, firmware updates, and the impact of AI and quantum computing on crypto security. We discuss practical tools, philosophical debates on self-custody, and future tech trends.Timestamps:(00:00) - Intro (00:21) - What’s new with @COLDCARDwallet?(04:05) - Miniscript support in Coldcard(09:48) - Thoughts on Bitkey(17:49) - @bisq_network protocol exploit(23:17) - Debunking the quantum FUD(29:51) - nvk on AI & LLMs(37:54) - llm-wiki(45:38) - Practical guides for using AI agents(52:03) - Closing thoughts Links: https://x.com/nvk https://bitcoinquantum.space https://learntoprompt.org/   https://llm-wiki.net/ Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, Pavlenex joins Stephan to discuss the strategic importance of funding open source in the Bitcoin ecosystem. They explore how open source support benefits companies, the stages of open source project development, and recent updates on Stratum V2 and BTCPay Server.Timestamps:(00:00) - Intro(01:09) - Open source is not philanthropy(05:07) - Reaction to MARA Foundation’s initiative(06:40) - Stages of open source projects(11:51) - The necessity of economic incentives(16:42) - AI's impact on open source contributions(19:48) - “Upstream decisions, downstream impact”(24:33) - Open source as a complement to R&D(28:46) - Navigating corporate funding & control(31:14) - Identifying & supporting the right projects(35:56) - Directed grants vs Open grants(39:55) - The importance of supporting open source(42:41) - Updates on Stratum V2(47:02) - Updates on BTCPay Server(48:47) - What is the Samrock protocol for BTCPay?Links: https://x.com/pavlenex https://x.com/pavlenex/status/2049122238033531339 Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode Stephan speaks with Matyas Kuchar, co-founder of BTC Prague, about the upcoming Bitcoin conference in Prague. They discuss the conference's focus on Bitcoin and its intersection with other technologies like AI, the regulatory landscape in Europe, and the community divides within the Bitcoin space. Matyas shares insights on the importance of self-custody, the challenges posed by CBDCs, and the need for a united front in the Bitcoin community. The discussion also touches on the influence of institutional investments on Bitcoin adoption and the value of self-custody. Timestamps:(00:00) - Intro(01:18) - What to expect from BTC Prague?(06:10) - The Intersection of AI & Bitcoin(10:41) - Rise of surveillance state & importance of Bitcoin(16:07) - CBDCs in Europe and regulatory challenges(19:30) - Community divides in Bitcoin(25:59) - The different types of conference attendees at BTC Prague(29:58) - The value of in-person connections(34:40) - Strategy’s influence on Bitcoin adoption(40:20) - Why attend BTC Prague?Links: https://x.com/Matyas44Cook https://x.com/btcprague Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, Giovanni Santostasi discusses his new book 'The Physics of Bitcoin' and the application of power law analysis to understand Bitcoin's growth, value, and long-term behavior. The conversation covers the scientific basis of Bitcoin's patterns, the significance of power laws in natural and social systems, and how this framework challenges common narratives about exponential growth.Timestamps:(00:00) - Intro(02:14) - Why write 'The Physics of Bitcoin'?(06:18) - The significance of Bitcoin’s Power Law (10:28) - Bitcoin's growth: Power law vs Exponential models(21:41) - The nature of Bitcoin as a network effect(29:46) - How would bitcoin’s power law be falsified?(37:30) - Bitcoin’s price floor(41:35) - Can it break to the upside?(43:14) - Will Bitcoin hit a saturation point?(52:51) - Sustainable nature of Bitcoin's growthLinks: https://x.com/Giovann35084111http://thephysicsofbitcoin.com https://scientificbitcoininstitute.org/ Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, Stephan Livera chats with James Van Straten, senior analyst at CoinDesk, to explore the current state of Bitcoin and macro markets. They discuss the nature of bear markets, cycle theories, technical indicators, institutional behavior, and macroeconomic influences affecting Bitcoin’s price and sentiment. Takeaways:🔸James shares his perspective on Bitcoin's bear market versus previous cycles🔸Debunking the four-year cycle hypothesis and its implications🔸The significance of institutional demand and holder behavior in market bottoms🔸Technical analysis tools like realised price and 200-week moving average support🔸The impact of macro events, such as geopolitical conflicts and macroeconomic trends🔸The role of options markets, liquidity, and sentiment indicators during downturns🔸The importance of dollar-cost averaging through bear markets for long-term gains🔸Insights into emerging Bitcoin treasury strategies and product offerings like STRC🔸How industry players are raising capital even in challenging market conditions🔸The potential for demand recovery and signs of green shoots in the current environmentTimestamps:(00:00) - Intro(00:40) - Is this bear market different?(02:48) - Does James believe in the 4-year cycle?(07:32) - Realised BTC price & 200WMA(13:13) - Total BTC supply in profit(17:22) - Long-term holder supply (19:20) - UTXO Realized Price Distribution (URPD)(25:00) - Bitcoin’s performance during the US-Iran war(29:49) - Strategy’s massive BTC purchase using STRC(36:31) - Rise of Bitcoin treasury companies(39:04) - DCA during bear cycles(41:09) - Closing thoughts Links: https://x.com/btcjvs Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

Stephan Livera and Pieter Wuille discuss Cluster Mempool for Bitcoin Core, its motivations, and its implications for Bitcoin users and miners. Where does the current mempool design have issues? Why is it important to maintain a transparent and reliable open mempool? Pieter Wuille also explains the complexities of transaction clustering and how the new framework improves efficiency and helps keep bitcoin mining open. Timestamps:(00:00) - Intro(01:05) - What is Cluster Mempool?(03:05) - What is its impact on everyday Bitcoin users?(06:21) - How does the mempool work today?(11:52) - Current mempool heuristics and issues(16:37) - Censorship resistance and economic demand(22:56) - Practical implications for exchanges & miners(26:12) - How does cluster mempool work?(29:29) - Transaction clusters & mempool dynamics(37:27) - Should mempools align across the node network?(43:47) - What about other implementations of Bitcoin?(48:17) - Other interesting areas for bitcoin development(52:11) - Closing thoughtsLinks: https://github.com/bitcoin/bitcoin/pull/33629 https://bitcoinmagazine.com/print/the-core-issue-cluster-mempool-problems-are-easier-in-chunks https://delvingbitcoin.org/t/an-overview-of-the-cluster-mempool-proposal/393 https://delvingbitcoin.org/t/mempool-incentive-compatibility/553 Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, Stephan Livera interviews Bitcoin developer Martin Habovstiak about his website Knotslies and the controversies surrounding data contiguity in Bitcoin transactions. They discuss the legal implications of data storage on the blockchain, the effectiveness of filtering illegal content, and various methods of spamming the Bitcoin chain. Martin shares his insights on the technical aspects of Bitcoin transactions and the challenges of maintaining standards in the face of evolving practices.They also discuss the complexities of Bitcoin's transaction mechanisms, particularly focusing on the implications of spam, the role of UTXOs, and the potential effects of BIP 110. The conversation also highlights the importance of maintaining network integrity, the costs associated with spamming, and the necessity of mining in preserving Bitcoin's resistance to government influence.Takeaways:🔸Martin created Knotslies to address misconceptions about Bitcoin data.🔸The argument about data contiguity in transactions is flawed.🔸Splitting data does not make it legal or safe.🔸Technical understanding is crucial for discussing Bitcoin's legal risks.🔸Filters cannot effectively prevent illegal content on the blockchain.🔸Spamming the Bitcoin chain can lead to larger transaction sizes.🔸The cost of storing data on Bitcoin is significantly higher than cloud services.🔸Different methods of spamming have varying costs and implications.🔸The debate around standards in Bitcoin is ongoing and complex.🔸People who are putting data in Bitcoin are doing it on purpose.🔸The calculator simulates what an attacker would do to spam Bitcoin.🔸Spammers will not be deterred by a 0.4% increase in costs.🔸Lightning Network is crucial for reducing spam on the Bitcoin network.🔸Changing Bitcoin due to government fear undermines its purpose.Timestamps:(00:00) - Intro(01:10) - Why did Martin create Knotslies? (07:46) - Controversies around data contiguity in Bitcoin transactions(12:04) - The standard way to interpret Bitcoin data?(20:24) - Can filtering protect node operators from illegal content? (25:37) - Various methods of data spamming in Bitcoin(33:01) - What is the Knotslies calculator? (40:20) - Analyzing spam costs(48:28) - Alternative solutions instead of BIP 110(54:25) - Role of Bitcoin mining in resistance to government influenceLinks: https://x.com/kixunil https://knotslies.com/ https://knotslies.com/calculator.html https://github.com/djkazic/bpub Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, Calle introduces Numopay, an open-source Bitcoin payment terminal that enables tap-to-pay experiences similar to fiat systems. We explore its technical foundations, privacy features, future developments, and the broader ecosystem of Bitcoin payment solutions.Takeaways:🔸Numopay's open-source payment terminal🔸Tap to pay Bitcoin using NFC and QR codes🔸Privacy features of Cashu’s eCash system🔸Auto withdrawal to Lightning addresses for security🔸Future developments including BIP321 and integrationsTimestamps:(00:00) - Intro(00:38) - What is Numopay?(03:29) - Numopay’s UX, tap-to-pay & offline NFC payments (08:30) - Unified QR codes (BIP 321)(10:21) - Auto withdrawal to lightning address(13:51) - Evolution of Bitcoin payment infrastructure(20:08) - What is the future of Numopay?(22:47) - The Cashu ecosystem in 2026(27:34) - Where should people be using Cashu systems today? (30:48) - Privacy in Bitcoin(34:34) - Future of Bitcoin development with AI(42:06) - Closing thoughtsLinks: https://x.com/callebtc https://x.com/NumoPayApp https://x.com/NumoPayApp/status/2026334747991916634 Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this episode, Stephan Livera interviews Trey Sellers about Bitcoin and FIRE (Financial Independence, Retire Early). They explore how Bitcoin can accelerate FIRE, different strategies for retirement, and practical tools like the FIRE BTC calculator. A must-listen for Bitcoiners interested in personal finance and early retirement strategies.Takeaways:🔸Bitcoin's role in FIRE and personal finance🔸The FIRE BTC Compass and its features🔸’Buy, Borrow, Die’ with Bitcoin🔸Different levels of FIRE and lifestyle planningTimestamps:(00:00) - Intro(01:15) - Bitcoin in FIRE community(4:12) - TradFi FIRE vs Bitcoin FIRE(07:31) - Can using Bitcoin accelerate financial independence?  (10:35) - How to use FIRE BTC Compass(14:35) - Different levels of FIRE(19:23) - Strategies for retirement drawdown(30:34) - Can you 'Buy, Borrow, Die' with Bitcoin?(36:23) - Sovereignty aspect of Bitcoin(38:19) - Dynamic life phases & intentional financial planning(43:52) - Why is there no ‘Dave Ramsey of Bitcoin’ show?Links: https://x.com/ts_hodl https://www.firebtc.io/ https://calc.firebtc.io/ Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, Stephan Livera and Gareth Grobler discuss the innovative features of the Layerz Wallet, focusing on its multi-layered approach to cryptocurrency transactions, the importance of stablecoins for Bitcoin adoption, and the technical challenges of integrating various blockchain technologies. They explore user experience, onboarding strategies, and the future of stablecoins in the context of global markets, while emphasizing the need for a user-centric design that simplifies the process for everyday users.Takeaways:🔸 Stablecoins are crucial for Bitcoin adoption.🔸The dollar is the best of the worst.🔸We need to meet people where they are at.🔸User experience is key for onboarding.🔸Stablecoins provide a smoother transition to Bitcoin.🔸Technical challenges exist but can be managed.🔸Convenience is what most users want.🔸Backup responsibility should shift to the wallet.🔸Global markets require localized solutions.🔸Bitcoin needs to be useful to people.Timestamps:(00:00) - Intro(00:55) - What is the premise of Layerz wallet? (02:42) - Which L2s does Layerz support? (04:03) - Who is the wallet for? (05:54) - Stablecoin layer(08:00) - How is Lightning integrated into the wallet?(10:00) - User-centric design & onboarding(11:41) - The role of Stablecoin layer in Bitcoin adoption(16:56) - Understanding swaps & transaction fees(21:39) - Should Bitcoin be only on-chain and lightning?(26:28) - Which Layer 2 would work best for the user? (28:38) - Technical challenges in wallet development(31:42) - Will Layerz also be a fiat-to-Bitcoin onramp?(32:39) - Hardware wallet support & recovery (36:05) - Closing thoughtsLinks: https://x.com/GarethGrobler https://x.com/LayerzWallet https://layerzwallet.com/ Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

Sam Wouters from River shares the latest insights on Bitcoin and Lightning Network adoption, highlighting recent data, growth trends, and misconceptions. Stephan and Sam also discover how Lightning is scaling, the role of institutional and business adoption, and effective strategies for individual investors.Takeaways:🔸Lightning Network transaction volume and capacity🔸Growth and efficiency improvements in Lightning routing🔸Misconceptions about Lightning Network scalability🔸Institutional and business adoption of Bitcoin🔸Behavior patterns of individual Bitcoin investors🔸Narratives and misconceptions in Bitcoin adoption🔸Impact of institutional buying and selling on Bitcoin price🔸Strategies for Bitcoin evangelism and educationTimestamps:(00:00) - Intro(00:45) - Overview of River’s report on Lightning Network growth (03:31) - Public Lightning Network capacity & usage(09:14) - Lightning Network user insights & transaction patterns(13:25) - Misconceptions among Bitcoiners about Lightning adoption (20:29) - Centralization in Lightning Network(23:27) - OGs selling Bitcoin(28:21) - Growing institutional adoption of Bitcoin(32:33) - Businesses adopting Bitcoin(38:47) - Individual Bitcoin investment patterns(41:19) - The importance of DCA in bear markets(44:38) - Bitcoin evangelism(52:22) - Closing thoughtsLinks: https://x.com/SDWouters https://x.com/River https://x.com/SDWouters/status/2024507942708351443 Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this interview, Stephan Livera chats with Charlie Spears from Blockspace about Bitcoin's ongoing debates on spam, protocol upgrades, and the future of Bitcoin development. They explore the nuances of on-chain data, the impact of ordinals, and the importance of ecosystem diversity.Takeaways:🔸The history and evolution of Bitcoin data debates, including the fork and filter strategies 🔸The real impact of spam and arbitrary data on Bitcoin's security and censorship resistance 🔸Analysis of proposed protocol changes like BIP 110 and their effectiveness in curbing spam 🔸The game theory behind spam vectors and how the ecosystem adapts to soft forks and filters 🔸The role of different Bitcoin clients and the importance of client diversity for network robustness🔸The future of ordinals, inscriptions, and their potential resurgence tied to Bitcoin's overall adoption and price cycles 🔸Insights into Bitcoin Layer projects and the importance of ecosystem tracking and transparency 🔸The significance of Bitcoin conferences like Opnext for fostering developer-institution collaboration and debate 🔸The overarching principle: increasing Bitcoin adoption as the best solution to data and spam concernsTimestamps:(00:00) - Intro(01:13) - The BIP110 fork and filter debate(03:59) - Consensus changes vs. policy solutions(08:36) - Understanding spam and data on the Bitcoin blockchain(11:29) - Diversity of Bitcoin clients(14:29) - What is considered spam?(17:55) - Will BIP110 stop or curb spam?(24:51) - Evolution of spam tactics in Bitcoin(29:18) - The future of Ordinals(32:16) - Does Ordinals & spam make Bitcoin a worse money?(37:04) - What is ‘Bitcoin Layers’? (43:02) - What is OPNEXT 2026?(52:49) - Closing thoughtsLinks: https://x.com/cbspears https://blockspace.media/ https://x.com/blockspace https://x.com/opnext2026 https://x.com/oklahomabtc Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, Stephan Livera and Keith from Branta discuss the intricacies of Bitcoin payments, focusing on the importance of address verification and security in the context of increasing digital threats. They explore how Branta's zero-knowledge verification process can enhance user experience and security, particularly in the face of potential scams and malware. The discussion also touches on the integration of Branta with Lightning and other Layer 2 solutions, as well as the future of Bitcoin user experience in an AI-driven world.Takeaways:🔸Bitcoin payments require careful address verification to avoid scams.🔸Branta uses zero-knowledge proofs to enhance security.🔸User experience in Bitcoin transactions needs improvement.🔸Address replacement attacks are a significant risk.🔸Branta aims to provide a seamless verification process.🔸Integration with wallets and exchanges is crucial for adoption.🔸AI may introduce new scamming vectors in cryptocurrency.🔸The goal is to make Bitcoin as user-friendly as credit cards.🔸Businesses adopting Branta can enhance customer trust.🔸Future developments will focus on consumer use cases for Branta.Timestamps:(00:00) - Intro(00:35) - What’s new with Branta? (01:32) - Address verification risks(04:59) - What is Branta's Zero-Knowledge verification process?(08:36) - Where is the verification taking place? (11:55) - Address verification in mobile and web interfaces(15:50) - Branta's integration with Lightning and L2s(18:17) - Costs of using Branta(18:58) - Future of Bitcoin security and AI threats(21:03) - Branta's role in consumer adoption(25:25) - Closing thoughtsLinks: https://x.com/unfakekeith https://x.com/BrantaOps https://branta.pro/ Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, Stephan Livera and Robert Warren discuss the evolving landscape of Bitcoin mining, focusing on the intersection of energy consumption and human flourishing. They explore the impact of AI on energy demand, the misconceptions surrounding the cost of production in Bitcoin mining, and innovative strategies for monetizing energy. The discussion highlights notable examples of companies and initiatives that are redefining the mining industry, emphasizing the importance of flexibility and community-driven innovation.Takeaways:🔸Energy consumption correlates with human flourishing.🔸The narrative around Bitcoin mining is evolving positively.🔸AI's demand for energy is reshaping the mining landscape.🔸Cost of production metrics are often misleading in Bitcoin mining.🔸Henry Ford's principles of continuous production apply to Bitcoin mining.🔸Monetizing the megawatt involves diverse revenue streams.🔸Gridless compute is revolutionizing energy use in Bitcoin mining.🔸Smaller miners can thrive by leveraging unique opportunities.🔸Flexible load strategies can stabilize energy markets.🔸Innovation labs like Choya are crucial for industry advancement.Timestamps:(00:00) - Intro(00:50) - Overview of National Energy & Mining Summit(02:42) - Human flourishing and energy consumption(06:11) - The energy narrative around Bitcoin(10:00) - Bitcoin miners pivoting to AI(14:04) - Hashrate growth(16:59) - “Cost of Production” analyst metric criticism(22:50) - Early years of Bitcoin mining(24:54) - Henry Ford's crystal palace(29:38) - Monetizing the Megawatt(33:10) - Different revenue streams in Bitcoin mining(36:20) - How is Gridless Compute innovating Bitcoin mining ops?(40:15) - Robert’s Home Bitcoin mining setup(42:38) - What is ‘Flexible Load Management’ in Bitcoin mining?(46:41) - Upstream Data bridging Oil & Bitcoin mining(50:49) - The Cholla Innovation Lab (54:23) - Upcoming events at Bitcoin Park Links: https://x.com/robertwarren https://x.com/bitcoinpark_ https://x.com/robertwarren/status/2019449339811131840 https://bitcoinpark.com/MONETIZING%20THE%20MEGAWATT%201_26.pdf https://linktr.ee/bikesandbitcoin Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack

In this conversation, Stephan Livera and James O'Beirne discuss the implications of quantum computing on Bitcoin, exploring skepticism towards the perceived threats, the current state of quantum research, and the potential responses from Bitcoin developers. They delve into proposed solutions, the role of institutions like NIST, and the challenges of Bitcoin protocol development. The discussion also touches on user experience, self-custody, and the future of Bitcoin adoption amidst evolving technological landscapes.Takeaways:🔸Quantum computing poses theoretical risks to Bitcoin, but practical threats are far off.🔸Skepticism about quantum computing's immediate impact is prevalent among experts.🔸Bitcoin developers have more pressing issues to address than quantum threats.🔸Proposed solutions like BIP 360 could enhance Bitcoin's security regardless of quantum risks.🔸NIST's push for post-quantum cryptography raises concerns about government influence.🔸The academic and business interests in quantum computing may hype its urgency.🔸Bitcoin's protocol development faces challenges due to a lack of strong leadership.🔸User experience is crucial for Bitcoin adoption and self-custody.🔸The future of Bitcoin may depend on how well it adapts to user needs and technological changes.🔸Bitcoin remains a unique solution to fiat debasement and economic instability.Timestamps:(00:00) - Intro(00:46) - What is the deal with quantum computing and Bitcoin?(05:05) - Advancing progress in quantum computing(09:43) - Is the quantum threat to Bitcoin around the corner? (11:57) - Quantum resistant schemes developed by Bitcoiners(15:45) - NIST and diverse views on Post-quantum cryptography(22:31) - The future of Bitcoin in a Post-quantum world(29:45) - 'Matt Corallo Quantum Plan'(34:08) - A modest version of the Big Blocker view(38:41) - Covenants and Scaling Bitcoin(43:35) - Comparing OP_TEMPLATEHASH & OP_CTV(48:01) - The ‘Slow and Steady’ approach to Bitcoin development(55:19) - What’s the next adoption pathway for Bitcoin?(1:04:04) - AssumeUTXO, Utreexo & Floresta(1:07:20) - Why are so few people running Bitcoin nodes?(1:14:52) - Closing thoughts Links: https://x.com/jamesob https://ctv-csfs.com/ https://www.youtube.com/watch?v=27Qs31E80cA Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack