BTC Sessions

Mentor Sessions Ep. 090: Jeff Booth and Scott Melker discuss Bitcoin adoption, ETF co-opting, the AI bubble, self-custody risk after the ColdCard hack, and the debt reset.

Wall Street, the ETFs, and the treasury companies are making every attempt to co-opt Bitcoin — and Jeff Booth and Scott Melker explain why that capture attempt may be exactly what Bitcoin needs to survive. The $350 trillion global debt pile is already insolvent, the AI bubble is still inflating, and self-custody just took a brutal reality check after the ColdCard fallout.

In this conversation you'll learn why Booth believes the existing system and Bitcoin cannot coexist over the long run, why he feels "incredible" even as price bleeds, and how the messy financialization of Bitcoin through institutions still funnels people toward spot self-custody. You'll hear Melker's honest read on adoption — that when arguments come down to "rolling dice for entropy," we are nowhere near mainstream — and Booth's thesis on why AI CapEx can never be paid back when the marginal cost of a line of code is zero. You'll also get a candid post-mortem on hardware wallet security, why "don't trust, verify" broke down for thousands of users, and what a new generation of self-custody solutions might look like.

⏱️ Timestamps:
0:00 - Intro
0:54 - Scott on adoption and why Bitcoin is strongest yet
3:08 - Did Covid pull forward Bitcoin demand like credit?
5:20 - Jeff Booth's first-principles case: $350T of insolvent debt
7:33 - Why Bitcoin and the centralizing system can't coexist
8:33 - If they can't kill it, they have to co-opt it
9:04 - Where each of us chooses to put our energy
11:44 - Does financialization actually risk decentralization?
12:11 - Scott's 2026 tweet on Bitcoin being co-opted
15:22 - Sticky narratives and gaining exposure to Bitcoin
15:49 - Scott's personal path from altcoins to Bitcoin
17:39 - Jeff on watching thousands make the same transition
18:14 - The rational actor trapped inside the system
22:32 - The abundance of deflation and killing the price story
26:07 - Ad: Abundant Mines
27:03 - What Wall Street friends really think of Bitcoin
28:09 - The ColdCard hack hits the Bloomberg terminal
30:09 - Will people flee to qualified custodians and ETFs?
31:11 - How far along the self-custody journey are we really?
33:05 - Rolling dice for entropy and the honesty test
35:47 - Self-custody as an active, ongoing responsibility
39:10 - How would you tell a beginner to custody Bitcoin in 2026?
40:42 - The brutal and beautiful side of the Bitcoin community
45:35 - Testing your recovery: move it, back it up, verify
47:13 - New private federation and settlement security models
48:41 - Scott's view of the AI markets and the coming bubble pop
51:26 - Jeff on marginal cost of code, why everything goes to free
55:14 - Orange juice, private equity, and moving businesses into Bitcoin
57:22 - Where to follow Scott and Jeff

🔗 Links & Resources:
• Follow Scott Melker on X: https://x.com/scottmelker
• Follow Jeff Booth: https://jeffbooth.com

🔔 Subscribe for weekly Bitcoin Podcasts
🐦 Follow on X: https://x.com/BTCSessions
🐦 Follow on X: https://x.com/theBTCmentor

⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1

💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more.
👉 Visit btcmentor.io

⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB

#Bitcoin #BTC #BTCSessions #JeffBooth #ScottMelker #BitcoinSelfCustody #ColdCardHack #AIBubble #DebtCrisis #BitcoinETF #SoundMoney #FinalReset #BitcoinAdoption #Deflation #HardwareWallet #BitcoinInterview #BitcoinOnly #SelfCustody #BitcoinPrivacy #FreeMarket #BitcoinNodes #MacroBitcoin #BitcoinCooption #DecentralizedMoney #WoldOfAllStreets

Mentor Sessions Ep. 089: Bitcoin hardware wallet makers Zach Herbert, Tomas Susanka and Drew Fischer discuss the Coldcard hack, multi-sig, entropy and self-custody security.

The Coldcard hack was the single biggest blow to Bitcoin self-custody yet — so four rival hardware wallet makers sat down together to figure out what it means for everyone holding their own keys. This is the conversation the industry needed.

Zach Herbert (Foundation Passport), Tomas Susanka (Trezor), Drew Fischer (Blockstream Jade) and Seed from the SeedSigner team break down the fallout: what the vulnerability actually exposed, why open source alone wasn't the safety net people assumed, and the entropy/dice-roll debate that split the panel. You'll learn why multi-vendor multi-sig is emerging as the strongest defense, how entropy is really generated on these devices, and the honest trade-offs between usability and security. You'll also hear the fresh news on the Trezor fulfillment-partner data leak (disclosed August 10, 2026) and what to do if you're worried about shipping and privacy.

This is a rare, candid roundtable where competitors disagree openly — and that dialog is exactly what makes it worth your time.

⏱️ Timestamps:
0:00 - Intro
0:56 - Four wallet makers respond to Coldcard hack
1:58 - Ben's question on self-custody downstream effects
3:02 - Zach on short-term setback and great hardening
6:19 - Tomas on AI helping attackers and defenders
8:44 - Drew on custodians, ETFs and verify don't trust
10:30 - SeedSigner on entropy sources and multi-sig
13:11 - Usability versus security trade-off debate
17:20 - Should self-custody be made harder not easier
18:56 - Dice rolls versus RNG entropy disagreement
22:16 - Zach on how many people actually self-custody
26:14 - Priorities when choosing a hardware wallet
29:01 - Security as a journey not a destination
33:03 - Sponsor: Abundant Mines
36:00 - Why multi-vendor multi-sig should be the goal
41:25 - Source available versus fully open source explained
47:34 - Open source as required but not sufficient
51:11 - How to know if a wallet is actually safe
56:57 - Trezor fulfillment data leak disclosed August 10
1:03:49 - Private device purchases and local meetups
1:06:01 - Where to find each project online

🔗 Links & Resources:
→ SeedSigner: https://seedsigner.com
→ Foundation Passport: https://foundation.xyz/
→ Trezor: https://trezor.io
→ Blockstream Jade: https://blockstream.com/jade

🔔 Subscribe for weekly Bitcoin Podcasts
🐦 Follow on X: https://x.com/BTCSessions
🐦 Follow on X: https://x.com/theBTCmentor

⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1

💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more.
👉 Visit btcmentor.io

⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB

#Bitcoin #BTC #BTCSessions #BitcoinSelfCustody #ColdCard #ColdcardHack #BitcoinHack #HardwareWallet #MultiSig #SeedSigner #Trezor #Passport #BlockstreamJade #BitcoinSecurity #NotYourKeys #ZachHerbert #TomasSusanka

Mentor Sessions Ep. 088: Parker Lewis explains the hidden risks of Bitcoin treasury companies, perpetual preferred equity, market premiums, and Bitcoin as money.

Bitcoin treasury companies were sold as a smarter way to own Bitcoin. Parker Lewis argues the premiums are a mispricing of risk that will flip to a discount.

In this deep dive, Parker Lewis (author of Gradually, Then Suddenly) breaks down why any treasury company trading at a premium to the Bitcoin it holds is mispricing risk, why perpetual preferred equity is effectively lending fiat forever with no credit protections, and why the whole structure resembles a game of musical chairs. You'll learn how the double-tax corporate structure quietly erodes shareholder value, why $65,000 could buy you a full Bitcoin or only half a share's worth at peak premium, and how the market gets better at pricing this risk over time. You'll also hear why calling Bitcoin "not money" is the deeper problem beneath the marketing — and what that means for long-term holders of Strategy, Strive, and similar products.

⏱️ Timestamps:
0:00 - Intro
1:07 - Parker Lewis on Bitcoin Treasury Risks
1:42 - Self-Custody vs Treasury Company Tradeoffs
4:01 - Premiums Represent Mispriced Risk in Treasuries
5:18 - Why Strive Trades at Larger Premium Than Strategy
6:58 - Premiums Will Flip to Discounts Over Time
7:15 - Problems With Perpetual Preferred Equity Structures
9:13 - You Never Lose Principal in Preferred Equity
10:29 - Unpacking the Backed by Bitcoin Claim
12:26 - Tail Risk and Musical Chairs in Preferreds
14:01 - Products Remain Tied to Bitcoin Volatility
18:46 - Perpetual Preferred Means Lending Forever in Fiat
20:41 - Stretch and Strive Trading Below Par Value
23:09 - Strategy Volatility and Investors Touching Hot Stove
33:30 - Abundant Mines Hosting Sponsor
34:25 - Management Risk and Key Man Concerns
36:52 - Double Tax Structure in Corporate Bitcoin Holdings
41:13 - Treasury Companies vs Bitcoin ETF Differences
46:50 - Bitcoin Market Dwarfs Any Single Stock
48:07 - Greater Fool Theory and GBTC Parallel
1:00:01 - Holding Treasury Stocks at a Discount
1:00:43 - Incentives Behind Treasury Company Messaging
1:12:33 - Bitcoin Is Not Money Framing Problem
1:15:41 - Where to Follow Parker Lewis
Parker Lewis references his book Gradually, Then Suddenly (free online at the Nakamoto Institute), Saifedean Ammous's The Bitcoin Standard, and his work at Zaprite.

🔗 Links & Resources:
→ Follow Parker Lewis on X: https://x.com/parkeralewis
→ Gradually, Then Suddenly: https://graduallythensuddenly.xyz/
→ Zaprite (Bitcoin payments): https://zaprite.com
→ Nakamoto Institute (free Bitcoin literature): https://nakamotoinstitute.org

🔔 Subscribe for weekly Bitcoin Podcasts
🐦 Follow on X: https://x.com/BTCSessions
🐦 Follow on X: https://x.com/theBTCmentor

⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1

💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more.
👉 Visit btcmentor.io

⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB

#Bitcoin #BTC #BTCSessions #ParkerLewis #BitcoinTreasury #MicroStrategy #Strive #PreferredEquity #SelfCustody #BitcoinAsMoney #SoundMoney #GraduallyThenSuddenly #MarketPremium #BitcoinInvesting #Strategy

Mentor Sessions Ep. 087: Simon Dixon breaks down the Coldcard hack, BIP-110 chain split fallout, node vs miner power, and Bitcoin self-custody security in 2026.

PART 1: Simon Dixon & Doomberg - https://youtu.be/Q0P0X7j_kcA

Over $100 million in Bitcoin vanished in the Coldcard entropy bug — and days later a chain split ended with the nodes defeated and Bitcoin more centralized than before. Simon Dixon joins Nathan to trace what really happened.

This is the deep-dive follow-up to the Doomberg conversation. You'll learn why Simon now treats every incident as an attack "guilty until proven innocent," how the BIP-110 resistance became the most successful node mobilization since the block size war yet still failed to move the mining pools, and why he refuses to die on a hill that ends in an altcoin. You'll see how the Coldcard low-entropy vulnerability, Zeus, Boltz and BTCPay attacks fit one pattern, and hear a clear framework for rebuilding your self-custody with dice-rolled entropy, multisig, and active participation. Simon and Nathan also unpack developer centralization, the loss of Knots as a competing implementation, and why sovereignty is proof of work you can't outsource.

⏱️ Timestamps:
0:00 - Intro
0:24 - Resuming After Doomberg Discussion
0:55 - Infrastructure Attacks on Coldcard and Others
1:32 - BIP-110 and Resulting Chain Split
1:50 - UASF and Block Size War History
2:50 - Tether Fees and Scaling Debates
4:02 - Barry Silbert and SegWit2x Deal
4:51 - Nodes Defeating Miners in Past Wars
6:02 - Role Reversal With Core Changes
7:35 - Running Knots to Support Resistance
8:20 - Developer Centralization Concerns Rise
10:14 - BIP-110 Failure and Altcoin Stance
11:39 - Knots Node Adoption Surge to 20%
12:08 - Infiltration Risks and Verification
12:54 - Can Node Minority Influence Miners
14:19 - Consensus Changes Remain Extremely Difficult
17:16 - More Centralized Yet Wiser After Events
18:13 - Social Fallout Losing Ocean and Knots
22:15 - Check Ego and Welcome Others Back
25:21 - Stay Suspicious While Shaking Hands
27:34 - Abundant Mines Mining Hosting
28:29 - Coldcard Low Entropy Bug Details
30:16 - Hack Impact on Bitcoin Purists
31:36 - Difficulty Spending Stolen Bitcoin
32:37 - Fed Recruitment via Stolen Coins
33:23 - Learn Entropy and Generate Secure Keys
36:03 - Assume Attack and Identify Beneficiaries
37:44 - Self Custody Sovereignty Comes at Cost
39:55 - Bitcoin Requires Active Participation
43:37 - Coordinated Message in All Attacks
45:14 - Final Advice Skepticism and Focus

🔗 Links & Resources
→ Simon Dixon on X: https://x.com/SimonDixonTwitt

This is part one — subscribe so you don't miss part two where we go deep on the Bitcoin infrastructure attacks.
🔔 Subscribe for weekly Bitcoin Podcasts
🐦 Follow on X: https://x.com/BTCSessions
🐦 Follow on X: https://x.com/theBTCmentor

⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1

💡BOOK Private Sessions with Nathan, Benn and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more.
👉 Visit btcmentor.io

⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB

#Bitcoin #BTC #BTCSessions #SimonDixon #BIP110 #ColdCard #SelfCustody #BitcoinKnots #NodeRunning #LightningNetwork #BitcoinSovereignty #BlockSizeWar #HardwareWallet #DontTrustVerify #BitcoinHack #BitcoinFork #HardFork

Mentor Sessions Ep. 086: Doomberg and Simon Dixon break down oil markets, the Strait of Hormuz, the end of globalism, Bitcoin centralization, and Michael Saylor's Strategy.

The forever war is quietly reaching its endgame, the dollar is set to weaken hard over the next decade, and Bitcoin was attacked from every direction at once — Doomberg and Simon Dixon unpack what real capital already knows.

In this deep macro conversation you'll learn why oil never hit $150 and what the sub-$90 Brent price is actually signaling, why the Strait of Hormuz is a card Iran can only play once, and how China may have already won without firing a shot. You'll see Simon Dixon lay out what MicroStrategy's Strategy is really built for — funneling as much Bitcoin as possible into Coinbase and Fidelity — and why holding shares instead of coins makes Bitcoin weaker. You'll also hear a self-described no-coiner and gold bug explain exactly why he'd still tell you to get long Bitcoin as the Western financial system unwinds. This is part one of two.

⏱️ Timestamps:
0:00 - Intro
1:36 - Doomberg and Simon Dixon on Global Shifts
2:07 - Shipping Choke Points Unwind Globalism
5:10 - Western Media Propaganda Exposed
8:14 - How Media Gets Captured by Power
12:13 - Real Purpose of Ukraine and Middle East Wars
22:38 - Biggest Empire Change in Our Lifetime
25:18 - Why Everything Depends on Beijing
28:35 - West Captured by Financial Industrial Complex
39:43 - Reading Oil Gold and Bond Markets
45:17 - Is Blackrock Weaker Than Its Reputation
53:25 - Building Mental Models for Information Overload
59:23 - What Energy Markets Are Really For
1:06:13 - Why Oil Below $90 Risks Greater War
1:09:07 - Real Capital Knows the Deal Is Coming
1:16:34 - Coldcard Hack and Contested Bitcoin Fork
1:17:50 - Doomberg on Bitcoin Encryption Vulnerabilities
1:24:00 - Self Custody Custody Risk and Sovereignty
1:36:24 - Michael Saylor Willingness to Sell Bitcoin
1:39:52 - What Strategy Is Built to Achieve
1:48:54 - Where to Find Doomberg and Simon Dixon
Mentioned in this episode: Doomberg's forthcoming book on analysis and mental models, Simon Dixon's book "Game of Money," abundant mines hosting, and BTC Mentor for secure self-custody setup.

🔗 Links & Resources
→ Doomberg: https://doomberg.com
→ Simon Dixon on X: https://x.com/SimonDixonTwitt

⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1💡BOOK Private Sessions with Nathan, Benn and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io ⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB

#Bitcoin #BTC #BTCSessions #SimonDixon #Doomberg #MichaelSaylor #Geopolitics #SelfCustody #Globalism #OilMarkets #Gold #StraitOfHormuz #MicroStrategy #Coldcard #SoundMoney #Oil #energymarket