Calle gets into into the future of financial and communication privacy, exploring how tools like Cashu and BitChat could help Bitcoiners survive in an increasingly hostile regulatory environment.
He breaks down why privacy is essential for democracy, the lessons from the original Crypto Wars, and how eCash can offer near-perfect transaction privacy.
Calle explains the history behind David Chaum’s invention, the trade-offs Bitcoin made for auditability, and why eCash mints could be run by communities for both Lightning payments and private internet services. As well as BitChat as a censorship-resistant messenger and the growing legal risks faced by privacy developers.
In this episode:
- Why financial privacy is as important as free speech
- Lessons from the Crypto Wars 1.0
- How Chaumian eCash works and why it’s unmatched for privacy
- Offline payments and tap-to-pay Bitcoin
- The risks and pressures facing privacy developers today
THANKS TO OUR SPONSORS:
IREN
RIVER
ANCHORWATCH
BLOCKWARE
LEDN
BITKEY
Follow:
Danny Knowles: https://x.com/\\\_DannyKnowles or https://primal.net/danny
Calle: https://x.com/callebtc or https://primal.net/calle
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1:33:12
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1:33:12
Is MSTR a Ponzi? | Lyn Alden & Andy Constan
Lyn Alden and Andy Constan go deep on Bitcoin treasury companies like Strategy, debating whether they’re outright Ponzi schemes or legitimate vehicles for leveraged Bitcoin exposure.
We dig into how these companies actually generate returns, why premiums to NAV exist, and the conditions that could cause the model to unravel. Lyn lays out her cautiously bullish case for well-run treasuries, while Andy argues the structure depends on new capital in ways that can’t last forever.
In this episode:
- What makes a Bitcoin treasury company different from an ETF
- Why premiums to NAV exist
- How Strategy’s capital structure works
- Whether treasury companies can generate income without selling Bitcoin
- The “Ponzi-adjacent” problem
THANKS TO OUR SPONSORS:
IREN
RIVER
ANCHORWATCH
BLOCKWARE
LEDN
BITKEY
Follow:
Danny Knowles: https://x.com/\_DannyKnowles or https://primal.net/danny
Lyn Alden: https://x.com/LynAldenContact
Andy Constan: https://x.com/dampedspring
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1:45:46
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1:45:46
The State of Bitcoin Adoption | Troy Cross & Ella Hough
Troy Cross and Ella Hough break down the state of Bitcoin adoption across the U.S. and the globe, revealing what the data really says about Bitcoin’s political alignment, institutional shift, and cultural future.
We get into the surprising statistics around self-custody, what Gen Z actually thinks about Bitcoin, and whether American bitcoiners can become a meaningful political force.
In this episode:
- Who owns Bitcoin - What Gen-Z think of Bitcoin
- The myth of political consensus around Bitcoin
- Bitcoin as a language of truth across culture, time, and power
THANKS TO OUR SPONSORS:
IREN
RIVER
ANCHORWATCH
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BITKEY
Follow:
Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny
Troy Cross: https://x.com/thetrocro
Ella Hough: https://x.com/21MMforthe21st
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1:18:41
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1:18:41
Why This Bitcoin Bull Market Is Different | Checkmate
Checkmate breaks down Bitcoin's market structure, why treasury companies are flooding in, and whether the four-year cycle has finally broken.
We get into how institutional money is reshaping on-chain dynamics, why long-term holders are behaving differently this cycle, and what the recent 80,000 BTC move signals about dormant supply.
Checkmate also explains the risks and opportunities of corporate treasury plays, premium-to-NAV dynamics, and how the rest of this bull market could play out.
In this episode:
- Treasury company dynamics
- Why Bitcoin’s drawdowns are structurally different this cycle
- The rise of institutional-sized transactions and empty mempools
- What the 80,000 BTC sale tells us about long-dormant coins
- The quantum debate
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_
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1:14:06
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1:14:06
Metaplanet, Strategy, and the Corporate Bitcoin Race | Dylan LeClair
Dylan LeClair breaks down the rise of Bitcoin treasury companies, why corporate adoption may be hitting a “gradually then suddenly” inflection point, and whether Michael Saylor’s lead is now insurmountable.
We get into how Metaplanet scaled from a few hundred Bitcoin to 16,000+, what’s driving premiums over NAV, and why public capital markets are becoming the biggest buyers of Bitcoin.
Dylan also explains Saylor’s latest innovation, “Stretch", and explains why this could transform corporate balance sheets and fixed income markets.
In this episode:
How corporate treasuries are competing in a winner-take-most market
Why premiums to NAV compress - and when they could expand again
The mechanics behind Stretch
How liquidity, interest rates, and credit markets drive Bitcoin price action
THANKS TO OUR SPONSORS:
RIVER
ANCHORWATCH
IREN
BLOCKWARE
LEDN
Follow:
Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny
Dylan LeClair: https://x.com/DylanLeClair_
Ireland