Episode #195 – The Gap
Bitcoin is a machine for remembering, and it works because of one deliberate hole in its memory. The Coldcard entropy failure filled that hole with facts the world had already writ
Episode #194 – States that Travel
Being early and being wrong are the same position, and the original Bitcoin thesis, the one that expected people to figure it out quickly, was 90 percent wrong. Out of that error c
Episode #193 – The Locus of Intelligence
The intelligent party in a conversation with a frontier model is not the model. Both the people building these systems and the people warning against them assume otherwise, and
Episode #192 – The Universe Demands Horns
A persistent knowledge structure can only take one shape. Information is physical, verification is asymmetric, and those two facts force a Gabriel's horn topology on anything th
Episode #190 – Time
Somewhere in the world a person has either lost their private keys or has chosen to take them to the grave, and a fixed quantity of Bitcoin will never move again. The surface an
Episode #189 – Gabriel’s Horn: The Shape of Everything
In 1641, Evangelista Torricelli, a student of Galileo, rotated the curve y = 1/x around the horizontal axis and obtained a shape whose interior volume converges to π while its sur
Episode #188 – The Exhaust Principle
In 1973, Jacob Bekenstein showed that a black hole’s entropy is proportional to its surface area. The result has been treated as a paradox for fifty years. This episode pr
Episode #187 – The Shannon Trap
In 1948 Claude Shannon formalised information theory by excluding meaning from the math, a move that was correct for his engineering problem and costly once the field adopted his m
Episode #186 – The Anti-Demon
Bitcoin as Anti-Demon: proof of work pays thermodynamic cost upfront, produces durable knowledge, and inverts Maxwell’s century-old paradox. K=IC² explained.
Episode #185 – ABS Ratings = Milkshake NGU
Episode #185 | Published February 26, 2026 A lender took a pool of bitcoin-collateralized loans, packaged the pool into an asset-backed security, sold roughly $188 million of bonds