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Cedric Youngelman ⚡️

@CedYoungelman • 61,332 subscribers

Family man · Host, The @_BitcoinMatrix Podcast · Advisor to early-stage, startup & high-growth companies

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🔁REPOST, MUST WATCH INTERVIEW JUNE 15th 2026 Bitcoin isn't digital gold. It's not locked in by math. You can kill it. The Bitcoin Matrix Podcast ⚡️ #279 Bitcoin Core Has Gone Rogue | Hardfork Kratter, Bitcoin University The man who ran money at Peter Thiel's hedge fund came on to explain who's trying, and why the only thing protecting Bitcoin is the people who run nodes. Matthew Kratter, Bitcoin University founder, former Clarium / Thiel-world macro trader, early Palantir investor, joins me to lay out the fight consuming Bitcoin right now in plain English: why he says Bitcoin Core has "gone rogue," the spam war over OP_RETURN and BIP-110 he calls Bitcoin's last stand, why consensus flows from culture and not code, who actually controls the network (hint: not the miners), and how to mine Bitcoin from home for about $10 a day. Send this to anyone who thinks Bitcoin can't be stopped. TIMESTAMPS: 00:00 Intro 01:00 Physics dropout to literature: Stanford & Berkeley 05:27 René Girard & meeting Peter Thiel 07:56 Becoming a trader: Thiel Macro to Clarium 12:43 The PayPal mafia, network effects & the dot-com bottom 20:23 Global macro at Clarium & the 2003 housing-blowup call 24:08 Napster, PayPal & the "new world currency" 28:32 Government as the ultimate customer: Palantir & the CIA (In-Q-Tel) 36:00 Deep-state roots: is Peter Thiel captured? 49:32 Culture is upstream of consensus 57:00 Bitcoin isn't magic: nodes, immutability & the spam risk 1:01:42 Why spam is a problem: tragedy of the commons 1:04:30 Spam since Satoshi & the 2014 OP_RETURN war 1:14:30 The changing of the guard at Bitcoin Core 1:18:43 Core uncaps OP_RETURN to 100,000 bytes 1:28:00 Consensus flows from culture: the 2nd Amendment analogy 1:35:20 BIP-110: the temporary soft fork 1:44:00 Why small blocks, and running nodes in Cuba 2:18:55 SegWit & the 2017 UASF: how 500 nodes won 2:24:00 The miners are just employees: node runners set the rules 2:41:46 "Firing the miners": changing proof-of-work 2:55:18 Bitcoin Core went rogue: the last stand 2:58:50 You can kill Bitcoin 3:01:20 Mine Bitcoin from home for ~$10/day, KYC-free 3:11:09 Where to find Matt ▶️

Cedric Youngelman ⚡️

19,726 Aufrufe • vor 1 Monat

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🔁 REPOST, recorded June 2024. Everything Luke Dashjr warned about is happening right now. Luke Dashjr - Is Bitcoin In A Civil War? Three or four entities decide what goes into every Bitcoin block. Most "miners" don't even know what they're mining. And if too few of us run nodes, Bitcoin quietly becomes a CBDC. The Bitcoin Core developer who caught the accidental 2013 hard fork before it broke the network came on to explain why mining is dangerously centralized, why the spam wave is a coordinated attack, and why he built a pool to fight back. Luke Dashjr, Bitcoin Core developer with 200+ contributions and maintainer of the BIPs, founder and CTO of Ocean, and the man who detected and helped stop the 2013 chain split, joins me to lay out the fight over Bitcoin's future in plain English: the difference between a real miner and a "hasher" who just sells compute, how three or four pools (really Bitmain) control what goes in every block, the invisible tax hiding inside FPPS, why he calls the spam wave a funded attack to destroy Bitcoin, why Bitcoin becomes a CBDC if too few of us run our own nodes, whether we are already in a civil war, and how Ocean is trying to hand block construction back to miners. Send this to anyone who thinks Bitcoin mining is decentralized. TIMESTAMPS: 00:00 Intro 01:50 Who is Luke Dashjr 04:09 The rabbit hole: his first patch in 2011 06:06 When Bitcoin became essential (there's no plan B) 10:09 Eligius: the first non-custodial mining pool 12:13 Why he started Ocean 13:50 The real consequences of pool centralization 16:34 Hasher vs miner: who actually mines? 18:36 How FPPS pays you, and what it hides 20:05 Why big pools become proxies for Bitmain 22:35 The launch, and why "censorship" became the word 24:49 What Bitcoin is actually built for 26:40 How to define spam 33:06 "The people behind the spam are out to destroy Bitcoin" 34:47 How the attack gets funded by gamifying it 37:13 Is this an existential threat? 38:48 Run a node, or Bitcoin becomes a CBDC 40:09 Bootstrapping a mining pool from zero 45:40 What non-miners can actually do to help 46:31 Should Bitcoin ossify, or keep upgrading? 49:24 How censorship-resistant is Bitcoin today? 50:00 Is Bitcoin already in a civil war? 51:10 Would the good guys still win a block size war today? 55:53 Ocean's roadmap: decentralizing block construction 1:00:07 How Ocean got its name (Jack Dorsey's nudge) 1:01:53 Do we have a problem in Bitcoin culture? 1:03:22 What Bitcoin means to Luke 1:07:11 The clause: Ocean can do no harm to Bitcoin 1:08:10 Where to find Luke + OCEAN 🎧 Then watch the sequel with Hardfork Kratter, The The Bitcoin Matrix Podcast ⚡️ #279: "Bitcoin Core Has Gone Rogue." 🎧

Cedric Youngelman ⚡️

20,425 Aufrufe • vor 2 Monaten