In recent years, Bitcoin has undergone a major culture shift which promotes stagnation, complacency & simping to politicians over maximizing the utility of the money. Eric Voskuil & John Carvalho join the show to remind everyone what the mission really is.

State of Bitcoin - [00:01:17]
Bitcoin Maximalism - [00:01:32]
Bitcoin as a Ponzi Scheme - [00:02:27]
Transaction Fees - [00:04:57]
History of Bitcoin Tokens (Omni, Counterparty, Mastercoin)
Definition of Tokens - [00:08:01]
Custodial Problems with Tokens - [00:09:12]
Bitcoin and Fiat Money - [00:11:09]
Why Bitcoiners Talk About Money - [00:15:49]
Stateless Money - [00:17:44]
Austrian Economics and Bitcoin - [00:21:01]
Monetary Inflation vs. Price Inflation - [00:26:01]
Cantillon Effect - [00:29:00]
Dollar Inflation and Gold - [00:33:59]
Misunderstandings in the Bitcoin Community - [00:41:42]
Bitcoin Semantics - [00:43:21]
Bitcoin Divisibility - [01:00:13]
Bitcoin Deflation - [01:03:41]
Maxi Price and One Coin Assumption - [01:07:43]
Competition Between Monies - [01:13:42]
Scaling Bitcoin - [01:22:41]
Bitcoin for the Unbanked - [01:26:14]
Maximizing Throughput - [01:36:11]
Right to Fork - [01:45:45]
Running Old Bitcoin Versions - [01:51:35]
Bitcoin as Money vs. Credit - [01:56:26]
Settlement in Bitcoin - [02:07:45]
Peer-to-Peer Credit Systems - [02:14:47]
Fractional Reserve Banking - [02:26:32]
Bitkit Wallet and Spending vs. Saving - [02:36:13]
Block size increases and Bitcoin adoption - [03:00:00]
Scaling Bitcoin and transaction validation - [03:01:00]
Bitcoin overflowing into Litecoin and quantum resistance - [03:02:00]
Pruning historical data and exchange price - [03:03:00]
Lightning system complexity and Bitcoin's value proposition - [03:05:00]
Bitcoin as an investment and speculation - [03:07:00]
Optimizing Bitcoin throughput and developer motivations - [03:09:00]
Scaling Bitcoin and speculation - [03:11:00]
Shitcoins, scams, and Bitcoin's security model - [03:13:00]
Litecoin's extension blocks and Mimblewimble - [03:15:00]
Bitcoin's security and the legitimacy of altcoins - [03:17:00]
Shitcoins and Bitcoin's essential aspects - [03:19:00]
Majority hash power censorship and attacks - [03:21:00]
Bitcoin speculation and market dynamics - [03:23:00]
Michael Saylor's Bitcoin strategy and MicroStrategy's history - [03:26:00]
Saylor's Bitcoin investment and market manipulation - [03:29:00]
Saylor's stock sales and Bitcoin's future - [03:31:00]
Blockstream's accomplishments and the Chia project - [03:33:00]
Blockstream's influence and SegWit - [03:35:00]
Adam Back's influence and Blockstream's hype - [03:37:00]
Bitcoin Core's power and the need for competition - [03:39:00]
Initial block download performance and Bitcoin Core's architecture - [03:41:00]
UTXO store and Bitcoin Core's performance - [03:43:00]
Parallelism in Bitcoin Core and assumed UTXO - [03:45:00]
Initial block download time and Bitcoin Core's scalability - [03:47:00]
Monoculture in Bitcoin development and IBD performance - [03:49:00]
UTXO cache and shutdown time - [03:51:00]
Trust assumptions in Bitcoin Core and UTXO commitments - [03:53:00]
Bitcoin Core's halting problem and theoretical download limits - [03:55:00]
Sponsorships: Sideshift, LayerTwo Labs, Ciurea - [03:57:00]
Drivechains and ZK rollups - [04:02:00]
ZK rollups and liquidity on Ethereum - [04:04:00]
Drivechains and altcoins - [04:06:00]
Scaling Bitcoin and cultural taboos - [04:08:00]
Engineer-driven change and Monero's approach - [04:10:00]
Confidential transactionsL Zano & DarkFi - [04:12:00]
Fungibility and Bitcoin's metadata - [04:14:00]
Privacy, metadata, and state surveillance - [04:16:00]
Privacy, taint, and Bitcoin mixing - [04:18:00]
Bitcoin mixing and plausible deniability - [04:20:00]
Mining and company registration - [04:22:00]
Block reward and hash power - [04:24:00]
Privacy and mixing - [04:26:00]
Privacy in the Bitcoin whitepaper and zero-knowledge proofs - [04:28:00]
Dark Wallet and John Dillon - [04:30:00]
Dark Wallet and Li Bitcoin - [04:32:00]
Amir Taaki's projects and software development - [04:34:00]
Dark Wallet funding and developer costs - [04:36:00]
Libbitcoin's code size and developer salaries - [04:38:00]
John Dillon and Greg Maxwell - [04:40:00]
Opportunistic encryption and BIPs 151/152 - [04:42:00]
Dandelion and privacy - [04:44:00]
BIP 37 and Bloom filters - [04:46:00]
Consensus cleanup and the Time Warp bug - [04:48:00]
Merkle tree malleability and 64-byte transactions - [04:50:00]
64-byte transactions and SPV wallets - [04:52:00]
Coinbase transactions and malleability - [04:54:00]
Invalid block hashes and DoS vectors - [04:56:00]
Core bug and ban list overflow - [04:58:00]
Storing hashes of invalid blocks - [05:00:00]
DoS vectors and invalid blocks - [05:02:00]
Malleated Merkle trees and 64-byte transactions - [05:04:00]
64-byte transactions and Merkle tree malleability - [05:06:00]
Null points and malleated blocks - [05:08:00]
Redundant checks and the inflation soft fork - [05:10:00]
Op code separator and code complexity - [05:12:00]
Transaction order in a block - [05:14:00]
Forward references in blocks - [05:16:00]
Coinbase transaction rules - [05:18:00]
Time Warp bug and Litecoin support - [05:20:00]
Quadratic op roll bug - [05:22:00]
Stack implementation and op roll - [05:24:00]
Templatized stack and op roll optimization - [05:26:00]
Non-standard transactions and direct submission to miners - [05:28:00]
Mempool policy and DoS - [05:30:00]
Monoculture and competing implementations - [05:32:00]
Consensus cleanup and Berkeley DB - [05:34:00]
Code vs. consensus - [05:36:00]
Bitcoin Knots and Luke-jr - [05:38:00]
300 kilobyte node and Luke-jr's views - [05:40:00]
Bitcoin Knots and performance - [05:42:00]
Bitcoin Knots and censorship - [05:44:00]
Censorship and miner incentives - [05:46:00]
Censorship and hash power - [05:48:00]
Soft forks and censorship - [05:50:00]
Ordinals and covenants - [05:52:00]
RBF and zero-confirmation transactions - [05:54:00]
Double spending and merchant risk - [05:56:00]
First-seen mempool policy and RBF - [05:58:00]
Low-value transactions and RBF - [06:00:00]
Computational cost of actions - [06:00:15]
Building infrastructure and system disruption - [06:00:20]
Threat actors and economic disruption - [06:00:26]
Double spending detection and system control - [06:00:29]
Safety and manageability of zero comp transactions - [06:00:41]
Security of zero comp transactions - [06:00:51]
RBF (Replace-by-fee) and its relevance - [06:01:06]
Bitcoin's mempool and transaction handling - [06:01:25]
Mempool overflow and resource management - [06:02:08]
Transaction storage and mining - [06:02:45]
Miners' incentives and fee maximization - [06:03:07]
Mempool policy and DOS protection - [06:03:41]
Transaction validation and block context - [06:04:11]
Fee limits and DOS protection - [06:05:13]
Transaction sets, graph processing, and fee maximization - [06:06:24]
Mining empty blocks and hash rate - [06:07:34]
Replace-by-fee (RBF) and its purpose - [06:08:07]
Infrastructure and RBF - [06:09:14]
Transaction pool and conflict resolution - [06:09:44]
Disk space, fees, and DOS protection - [06:11:06]
Fee rates and DOS protection - [06:12:22]
Opt-in RBF and mempool full RBF - [06:13:45]
Intent flagging in transactions - [06:14:45]
Miners obeying user intent and system value - [06:17:06]
Socialized gain and individual expense - [06:18:17]
Service reliability and profitability - [06:19:06]
First-seen mempool policy - [06:19:37]
Mempool policy and implementation - [06:20:06]
User perspective on transaction priority - [06:21:14]
Mempool conflicts and double spending - [06:22:10]
CPFP (Child Pays for Parent) - [06:22:24]
Mempool management and fee rates - [06:24:30]
Mempool complexity and Peter Wuille's work - [06:25:54]
Memory and disk resource management - [06:27:37]
First-seen policy and miner profitability - [06:29:25]
Miners' preference for first-seen - [06:30:04]
Computational cost and fee optimization - [06:31:10]
Security, Cypherpunk mentality, and the state - [06:35:25]
Bitcoin's security model and censorship resistance - [06:41:02]
State censorship and fee increases - [06:43:00]
State's incentive to censor - [06:46:15]
Lightning Network and regulation - [06:48:41]
NGU (Number Go Up) and deference to the state - [06:51:10]
Reasons for discussing Bitcoin's security model - [06:53:25]
Bitcoin's potential subversion and resilience - [06:55:50]
Lightning Network subsidies and scaling - [06:57:36]
Mining protocols and security - [07:02:02]
Braidpool and centralized mining - [07:04:44]
Compact blocks and latency reduction - [07:07:23]
Orphan rates and mining centralization - [07:08:16]
Privacy and threat environments - [07:08:40]
Social graphs, reputation, and identity - [07:10:23]
Social scalability and Bitcoin - [07:12:36]
Individual empowerment and anonymity - [07:16:48]
Trust in society and the role of the state - [07:18:01]
Payment methods and trust - [07:20:15]
Credit reporting agencies and regulation - [07:22:17]
Hardware wallets and self-custody - [07:23:46]
Security vulnerabilities in Ledger - [07:27:14]
Disclosure of secrets on Ledger devices - [07:36:27]
Compromised machines and hardware wallets - [07:42:00]
Methods for transferring signed transactions - [07:48:25]
Threat scenarios and hardware wallet security - [07:50:47]
Hardware wallet usage and personal comfort - [07:56:40]
Coldcard wallets and user experience - [08:02:23]
Security issues in the VX project - [08:03:25]
Seed generation and hardware randomness - [08:12:05]
Mastering Bitcoin and random number generation - [08:17:41]