Loren Hodl and the Bitcoin Today room work through the quantum FUD cycle, paper Bitcoin, and what actually secures a blockchain, from hacked-coin scenarios to the nominal amounts that matter. The room debates whether any other chain can ever reach Bitcoin's decentralization, why the top 10 from 2016 looks nothing like today, and what evidence would change their minds. The show closes on the gold flip: at least 10 years out, against a $30 trillion market cap, and what a $15 trillion Ethereum would mean for the thesis.Loren and Terence host Bitcoin Today live on X, weekdays at 8:30 AM PT.X: @lorenhodl and @proofofmoneyYouTube segment: https://youtu.be/iUl5bUCXGggChapters:00:00 Paper Bitcoin fears open the show10:39 Paper Bitcoin ends Bitcoin?24:05 Quantum: hacked coins spent today33:00 Quantum fix is 3 to 5 years out39:07 The wheel of fortune of FUD48:04 Quantum: look at the nominal amount54:00 Exchange inflows: the real resource1:03:00 What counts as a shitcoin1:06:08 Venmo vs blockchain settlement1:12:01 What is a blockchain?1:12:48 No other chain reaches decentralization1:13:20 Decentralization is a spectrum1:33:01 Minted Bitcoin just cease to exist1:45:00 Bitcoin outlives a 40-year horizon1:49:02 Top 10 from 2016 looks way different1:51:00 When Bitcoin flips gold: 10 years1:51:54 Gold's market cap is $30 trillion1:58:31 Closer: All We Do Is Win

Roberto argues Japan is the monetary experiment lab for the West: thirty years of QE, QQE, and yield curve control that never created growth, with yield curve control next for the United States if a bond market crisis hits. He calls the BIS the head of the Medusa and makes the finale case that Bitcoin solves the Triffin dilemma, because a reserve asset with no host country cannot break one, unlocking $20 to $40 trillion in daily trade liquidity and forced nation-state adoption. Terence Michael opens the show as Bitcoin's hash rate returns to one zettahash, one sextillion computations per second.Loren and Terence host Bitcoin Today live on X, weekdays at 8:30 AM PT.Full video on YouTube: https://www.youtube.com/watch?v=sCqfUdMDAHc | X: @lorenhodl and @proofofmoney00:00 Show open, 1929 to the moon02:13 Hash rate back at one zettahash04:35 The October 1929 anniversary05:25 SpaceX bonds are yielding 8 percent05:51 A massive shortage of capital15:00 Boiling down an investment philosophy24:25 JPMorgan says Bitcoin performs best26:52 Natalie on the advisor business27:32 A Bitcoin Alpha inheritance talk29:17 Why The Bitcoin Standard still lands32:14 Homes should not be stores of value35:00 Which Bitcoin ETF for an allocation45:00 Off-balance sheet manipulation50:05 The morality play was never needed50:55 BIP110, Bitcoin's latest civil war1:05:01 Will they take over the mining pools1:10:00 House, credit card debt, or Bitcoin1:12:35 Hold until the thesis is invalidated1:17:33 How to actually monitor adoption1:18:31 Dan and Robert take the stage1:24:45 Japan's domestic carry trade1:33:09 Why the room follows Roberto1:35:03 Talking Japan with Roberto1:42:48 The financial repression playbook1:50:03 Can you just delete the debt2:03:25 Winding down for the weekend2:05:19 Japan is the West's experiment lab2:09:01 Bitcoin has no host country

The builder of EntropyLab, a single-file offline Bitcoin key and wallet calculator, argues your seed words are only as trustworthy as the entropy that created them, and that after the Coldcard failure no hardware wallet should generate your 24 words in secret. TC lays out the contradiction at the heart of Bitcoin security and the fix: roll your own entropy, create your own words, verify everything yourself. Fred Krueger answers the latest quantum panic, and Harry explains how one certificate authority's broken keys could have forged any website on Earth.Loren and Terence host Bitcoin Today live on X, weekdays at 8:30 AM PT.X: @lorenhodl and @proofofmoney00:00 Show open04:09 UgaBoogaLand teaches Bitcoin as a game04:29 Who funds Bitcoin education?09:27 EntropyLab: a calculator, not a wallet13:40 The file only works offline, on purpose19:59 TC: create your own 24 words24:17 Did your wallet use enough entropy?29:02 The PSBT inspector checks your signer34:23 Cold storage means rare on-chain moves37:14 Done with hardware wallets40:42 Trust it, or verify it yourself41:14 Paranoid is the whole framework46:06 Coldcard was a fork in the road54:42 Online features defeat the purpose1:00:28 Fred Krueger joins the room1:02:25 Chamath's quantum FUD, answered1:06:51 The PHP and Node.js certificate scare1:11:20 A forged cert could fake any website1:15:51 Point your own agent at your machine1:18:37 Rocio: custody is a family decision1:23:05 Self-custody is learning to drive1:27:52 Sovereignty starts as a mind shift1:29:07 Credential vaults at the OS level1:31:41 A UTXO is a chunk of Bitcoin1:37:34 A PSBT is a check missing a signature1:41:10 Driving daily is riskier than Bitcoin

🎙️ Join Loren and Terence for Bitcoin Today, live on X every weekday at 8:30 AM PT.Daily conversations on Bitcoin, money, markets, and the incentives driving the headlines.Follow @BitcoinToday__ and @LorenHodl to catch the conversations and never miss a replay! 🟠

Attorney Joe Carlasare argues proof of reserves proves nothing about a Bitcoin treasury company's solvency, because FTX showed addresses for Bitcoin it never had. Fred Krueger runs the math on a Tesla-SpaceX merger putting 30,000 BTC on one balance sheet, Matt McDonagh maps the three portals driving adoption, and Tomer Strolight explains why hash rate follows price instead of leading it.Loren and Terence host Bitcoin Today live on X, weekdays at 8:30 AM PT.X: @lorenhodl and @proofofmoney00:00 Bitcoin Today, Oct 21 lineup04:40 Fred: digital credit is a sideshow07:48 How much buying gets Bitcoin to $1M?08:40 Tesla-SpaceX merger: 30,000 BTC15:32 Proof of reserves: the debate opens19:23 FTX showed reserves it never had20:45 Joe: only a full audit proves solvency23:26 Enough negativity, get bullish24:09 Bitcoin $300K to $400K in 18 months29:30 Slow your roll on the power law31:52 Triple-entry bookkeeping changes audits33:20 Matt: three portals drive adoption35:50 AI agents will choose Bitcoin36:34 Shadow banking runs on handshakes37:40 Are LLMs eating Google search?39:42 Bitcoin takes patience, not euphoria44:41 The world is hooked on fixed income46:07 PHP flaw put millions of sites at risk1:02:13 A hacked site can steal your data1:15:07 A live lesson in mining difficulty1:19:31 Difficulty adjusts so no one takes over1:20:54 Tomer: difficulty cuts both ways1:26:24 20+ power laws surround Bitcoin1:30:30 Mining cost tends to equal price1:32:02 Hash rate follows price, not reverse1:38:15 Tomorrow: onboarding, scams, adoption1:51:34 Companies can sign to prove reserves1:52:11 Tomer: proof of assets beats claims1:59:03 Treasury companies down 87% to 90%

Jeff Walton of Strive walks through the $700M SATS placement and defends the fixed coupon against STRC's floating rate. The room presses him on SATA versus SATS, what happens if yields fall, and whether anything in the structure can force a sale of the bitcoin. Cut from today's full Bitcoin Today Space.Loren and Terence host Bitcoin Today live on X, weekdays at 8:30 AM PT.Full episode: https://open.spotify.com/episode/0cCuLZuzCBOV4jWmTft0a7Follow on X: @lorenhodl and @proofofmoneyCHAPTERS0:00 Strive's $700M SATS raise2:25 SATA vs SATS explained4:00 What if yields fall?8:00 Fixed coupon beats STRC floating10:00 Building the capital stack12:00 Nothing forces selling the Bitcoin16:00 Pricing the raise: 90 vs 9520:00 Matching investors to credit quality22:16 If SATA depegs, who gets sacrificed?

Strive is raising $700 million through SATS, and the room argues whether a fixed coupon beats STRC. Jeff Walton joins Loren and Terence on SATA versus SATS, what happens if the coupon depegs, and why nothing in the structure forces a sale of the bitcoin. The open compares Bitcoin's volatility with the S&P 500.Loren and Terence host Bitcoin Today live on X, weekdays at 8:30 AM PT.Watch the edited episode on YouTube: https://youtu.be/b4K1L8J_UukFollow on X: @lorenhodl and @proofofmoneyCHAPTERS00:00 Bitcoin calmer than 57% of S&P 50005:07 Conference recap28:48 Jeff Walton: $15B into Bitcoin33:00 Strive's $700M SATS raise35:25 SATA vs SATS explained37:00 What if yields fall?41:00 Fixed coupon beats STRC floating43:00 Building the capital stack45:00 Nothing forces selling the Bitcoin49:00 Pricing the raise: 90 vs 9553:00 Matching investors to credit quality55:16 If SATA depegs, who gets sacrificed?59:00 Jeff watches every data point1:01:02 Is SATS paper Bitcoin?1:03:00 Trust for the 99%: no self-custody1:09:00 A transparent capital structure1:11:00 Rebuilding markets on Bitcoin1:13:25 The $4B fake letters of credit1:25:07 mNAV vs price-to-book1:35:14 Tough questions after the interview1:40:00 ICOs, rugs, and honest criticism1:43:00 Margin, rug pulls, market timing1:45:00 Are the midterms already decided?1:47:00 AI correction, Bitcoin breakout setup1:49:00 Buy the fear, sell the greed2:01:12 Does owning a home still make sense?

What’s happening in the Bitcoin market—and what are Bitcoiners talking about after Bitcoin Alpha in Santa Monica? From MicroStrategy (MSTR) to the bigger questions shaping Bitcoin, this episode brings the community conversation back to the forefront.Today on Bitcoin Today, we revisit the energy surrounding last week’s Bitcoin Alpha conference in Santa Monica and dive into general Bitcoin topics, market perspectives, and the latest conversations across the Bitcoin community.We also discuss MicroStrategy (MSTR) and its place in the Bitcoin ecosystem, alongside broader questions about Bitcoin, market sentiment, and the different ways people think about gaining and holding Bitcoin exposure.Bitcoin is about more than price. It’s about ideas, conviction, community, and the future of money. This episode brings those themes together in an open, unscripted conversation about where Bitcoin stands and what could lie ahead.Whether you attended Bitcoin Alpha in Santa Monica or are catching up from elsewhere, tune in for a community-driven discussion covering Bitcoin, MSTR, market outlooks, and the ideas shaping the Bitcoin conversation.It’s a market-focused Space covering Bitcoin, Bitcoin Alpha, MicroStrategy (MSTR), Bitcoin market sentiment, Bitcoin investing, and the people and ideas shaping the future of money.🎙️ MISSED THE LIVE SPACE?Bitcoin Today is a daily Bitcoin conversation hosted by founding member Loren and co-host Terence, featuring community members and special guests. Catch the full replay and hear the discussion for yourself. We’re live on X every weekday at 8:30 AM PT.📍 FOLLOW BITCOIN TODAYFollow @BitcoinToday__ on X for daily Bitcoin conversations and new episode replays.🎧 FOLLOW ON SPOTIFYFollow Bitcoin Today Recast for new episodes and more conversations about Bitcoin, markets, and the technology shaping the future of money.⚡ SUPPORT BITCOIN TODAYEnjoy the show? Support Bitcoin Today and help us keep the daily conversation going.X Money: @LorenHodlChapters:0:00 Show open: Terence live from Santa Monica5:00 Bitcoin gives you wings: trust your earning power, not your savings10:00 Conference recap: Abundant Minds track and Proof of Bull15:00 Shout-out: hoping Robert is doing well20:00 Saylor at RFK: 38% Bitcoin CAGR, 52% Strategy CAGR over six years25:00 Post-conference networking and hangouts30:00 Dom Bei's "conference for trees" roast35:00 The family fund framework40:00 Bringing spouses to conferences, ATN joins45:00 STRC buyback debate: the Apple iPhone moment analogy50:00 Dark: Coinbase denied his self-custody withdrawal twice55:00 Digital credit debate: returns without the volatility?1:00:00 Moon banter and the hot digital credit topic1:05:00 Dave: Saylor's earnings call and digital credit for non-Bitcoiners1:10:00 Adoption S-curves: Amazon, ATMs, electric cars1:15:00 Dave: 1987 program trading, magic-wand hedging always blows up1:20:00 Buybacks cannot will a stock price higher1:25:00 Healthcare detour: medical errors and the EHR era1:30:00 Digital credit as marketing; Bitcoin as future collateral1:35:00 Earnings calls: the AI trade is sucking up capital1:40:00 Liquidity crisis debate: Blake grills a Strategy shorter1:45:00 Macro: Luke Gromen's rock and a hard place1:50:00 Europe: suicidal empathy and financed riots1:55:00 The Nordics voted against their own interests2:00:00 Wrap: jury duty banter and play-out

Charles Schwab is moving toward a Bitcoin ETF, and the Bitcoin Today room digs into what it means for holders, advisors and the price. Loren and Terence host today's live Bitcoin Today Space with the community, including Aztec, Natalie, Michael, Omar and more.Today on Bitcoin Today, the conversation opens with the community catching up and what the room is watching on a big conference day. Then the Tesla Roadster and Cybertruck debate takes over, with the panel split on whether the launch hype is real. Along the way: Elon, politics and why polarization keeps people arguing.Then we turn to Bitcoin. The big news is Schwab and its RIA platform. The panel talks about Bitcoin ETFs, whether ETF selling pressure matters, how Bitcoin differs from an S&P 500 ETF because there can only ever be 21 million, and why more ETF adoption makes self-custody and multi-sig conversations more important, not less. We close out with spend and replace thinking, and the long game for Bitcoin.Searching for daily Bitcoin news, Schwab Bitcoin ETF, Bitcoin ETFs, RIA platforms, self-custody, multi-sig, Tesla Roadster or Elon? This episode covers it in a live, unscripted community conversation recorded Friday morning PT.CHAPTERS00:00 Intro: live from Bitcoin Alpha in Santa Monica02:31 The Bitcoin-mining wristwatch05:01 Markets: Korea and Indonesia selloff, hyperscalers getting waxed15:03 The Schwab news is bullish17:45 Tesla talk: the Roadster reveal22:35 The Roadster is something completely different25:51 Fight: Roadster production vs publicity stunt28:49 Garage talk: 911 GT3 RS and Ferraris30:00 Cybertruck vs the Porsche35:02 The Elon politics debate39:05 Cheering on the builder despite the politics45:02 Will the Roadster ever be street legal48:41 Skepticism for anyone with that much power50:03 Conference sessions and the Tesla event recap56:06 Schwab going in is the only thing you need to know57:11 You can already buy every Bitcoin ETF inside Schwab58:33 Active vs passive: what is destroying our markets1:00:42 Did the ETFs move Bitcoin's price up or down1:01:26 The 2022 drawdown: 70 to 75 percent before ETFs1:02:32 Paper-handed ETF holders in the next risk-off1:04:40 The 21 million rebuttal: you cannot make more of it1:06:30 Compressed spring: paper Bitcoin vs spot Bitcoin1:10:07 Why Schwab's ETF is bullish: the RIA pitch machine1:12:35 Fee-based RIAs and Schwab's internal marketing1:13:23 1000 percent multi-sig: IBIT is not Bitcoin1:14:18 As ETFs grow, self-custody conversations matter more1:16:05 In-kind redemptions: can institutions withdraw1:18:45 On the ground at Bitcoin Alpha1:21:00 Bitcoin ADRs: American depository receipts1:22:33 Separate self-custody from spending Bitcoin1:26:47 Self-custody as a forward market indicator1:28:04 Winding down: doing the best with what we have1:30:03 Outro🎙️ MISSED THE LIVE SPACE?Bitcoin Today is a daily Bitcoin conversation hosted by founding member Loren and co-host Terence, featuring community members and special guests. Catch the full replay and hear the discussion for yourself. We are live on X every weekday at 8:30 AM PT.📍 FOLLOW BITCOIN TODAYFollow @BitcoinToday__ on X for daily Bitcoin conversations and new episode replays.🎧 FOLLOW ON SPOTIFYFollow Bitcoin Today Recast for new episodes and more conversations about Bitcoin, markets, and the technology shaping the future of money.⚡ SUPPORT BITCOIN TODAYEnjoy the show? Support Bitcoin Today and help us keep the daily conversation going.X Money: @LorenHodl

Bitcoin price, hot inflation data, rising bond yields, and a potential AI data center bubble—is the market overlooking important risks? This Bitcoin Today replay explores the latest macroeconomic signals, Bitcoin market sentiment, artificial intelligence, and the question of who to trust in a world of competing narratives.Hosted by Eric Rice, with Loren joining as co-host, this live Bitcoin community discussion brings together Jeff, Michael, Corey, Tico, G Money, Aztec, Sean, and others to debate Bitcoin, markets, politics, and technology.BITCOIN, PPI INFLATION & THE MACRO OUTLOOKWe discuss the hotter-than-expected Producer Price Index (PPI), sticky inflation, bond yields, gold, and Bitcoin's price action—including the market reaction as Bitcoin fell below $80,000 during the conversation. The panel considers the difference between short-term volatility and Bitcoin's long-term fundamentals.AI DATA CENTERS: BOOM OR BUBBLE?Are AI hyperscalers and data center companies building the infrastructure of the future, or could the AI investment boom be heading for a correction? We explore data center energy and water demands, infrastructure spending, regulation, and the potential implications for markets and Bitcoin mining.TRUST, ARTIFICIAL INTELLIGENCE & BITCOINWho can you trust when politics, media, and AI-generated narratives compete for attention? The discussion explores language models (LLMs), centralized AI, credibility, and Bitcoin's ability to operate without a third party approving transactions.We also touch on Bitcoin treasury companies, including Strategy and Strive, Bitcoin forks such as BCH and BSV, market psychology, and why long-term conviction matters when headlines create uncertainty.If you're interested in Bitcoin news, Bitcoin price analysis, macroeconomics, inflation, AI infrastructure, hyperscalers, Bitcoin mining, and the future of money, catch the full conversation.🎙️ MISSED THE LIVE SPACE?Bitcoin Today is a daily Bitcoin conversation hosted by founding member Loren and co-host Terence, featuring community members and special guests. Today's Space was hosted by Eric Rice, with Loren joining as co-host. Catch the full replay.📍 FOLLOW BITCOIN TODAYFollow @BitcoinToday__ on X for daily Bitcoin conversations and new episode replays.🎧 FOLLOW ON SPOTIFYFollow Bitcoin Today Recast for more conversations about Bitcoin, markets, and emerging technology.⚡ SUPPORT BITCOIN TODAYEnjoy the show? Support Bitcoin Today and help us keep the daily conversation going.X Money: @LorenHodl