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What Bitcoin Did

Danny Knowles

What Bitcoin Did unpacks Bitcoin’s role in reshaping money, freedom, and the future of finance.

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Avg 1 hr 21 min
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Episodes 34

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July 17 · 1 hr 19 min
Why MSTR Will Underperform Bitcoin | Parker Lewis
"Bitcoin treasury companies are not the equivalent of altcoins, but there’s a very similar lesson that has to be learned: they’re a great way to get less Bitcoin." Parker Lewis is back on the show to explain why Bitcoin treasury companies such as Strategy (MSTR) may underperform Bitcoin, and why the digital capital narrative gets Bitcoin wrong. Parker argues that investors buying treasury company stocks are often paying a premium to take on more risk: leverage, dilution, corporate expenses, execution risk, counterparty exposure and potential tax drag. While the company may accumulate more Bitcoin, he explains why that does not necessarily mean its shareholders are getting more Bitcoin for their money. We also get into Michael Saylor’s changing message, the difference between Bitcoin as money and “digital capital,” and why Bitcoin payments are essential to its long-term success. THANKS TO OUR SPONSORS: ANCHORWATCH BLOCKWARE LEDN BITKEY SWAN CAPE FOLLOW: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Parker Lewis: https://x.com/parkeralewis
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July 15 · 1 hr 18 min
The Next 10 Years Will Decide Bitcoin’s Future | Brandon Quittem
“In my opinion, not just Bitcoin, but the direction of society for our lifetimes and our kids’ lifetimes will be decided in the next five to ten years.” Brandon Quittem is back on the show to get into whether Bitcoin can survive its transition from a countercultural movement into a global financial asset without losing the qualities that make it revolutionary. We discuss the growing concentration of bitcoin in custodians and ETFs, the threat of paper Bitcoin, the importance of protecting self-custody, and why cultural apathy may be Bitcoins biggest danger. We also get into the Fourth Turning, institutional decay, AI, political polarisation and the battle between centralised control and individual sovereignty. THANKS TO OUR SPONSORS: ANCHORWATCH BLOCKWARE LEDN BITKEY SWAN CAPE FOLLOW: Danny Knowles: https://x.com/\\\_DannyKnowles or https://primal.net/danny Brandon Quittem: https://x.com/Bquittem
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July 10 · 1 hr 40 min
Is The Bitcoin Power Law Broken? | Matthew Mezinskis
“I think in ten years, the financial system and the Bitcoin system are going to collide.” Matthew Mezinskis is a macroeconomic researcher, host of Crypto Voices and one of the leading voices on Bitcoin's power law and global money supply data. In this episode, we get into whether the Bitcoin power law has finally broken, why the four-year cycle still appears intact, and what the data suggests about the current market and a possible $500,000 Bitcoin in 2029. We also explore the coming collision between Bitcoin’s slowing power law growth, a financial system built on exponential credit and whether Bitcoin will force that system to change or ultimately be co-opted by it. THANKS TO OUR SPONSORS: ANCHORWATCH BLOCKWARE LEDN BITKEY SWAN CAPE FOLLOW: Danny Knowles: https://x.com/\\\_DannyKnowles or https://primal.net/danny Matthew Mezinskis: https://x.com/1basemoney
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July 8 · 1 hr 3 min
Is The Fed Lying About Inflation? | James Lavish
"They will allow inflation to run hotter than they'll admit to." James Lavish is co-founder of the Bitcoin Opportunity Fund and author of The Informationist newsletter. In this episode, we discuss Kevin Warsh's first months as Fed chair and whether the Fed is about to change how it measures inflation. We get into the inflation task force, the trimmed mean PCE, why the 2% target was always arbitrary, and how the balance sheet is quietly expanding through treasury buybacks and QE light. We also cover credit card delinquencies hitting 2008 levels, the K-shaped economy, whether the Fed is hoping AI bails them out of the debt problem, the circular AI trade, and why James is confident Bitcoin will be back at all-time highs within 12 months. THANKS TO OUR SPONSORS: ANCHORWATCH BLOCKWARE LEDN BITKEY SWAN CAPE FOLLOW: Danny Knowles: https://x.com/\_DannyKnowles or https://primal.net/danny James Lavish: https://x.com/jameslavish
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July 3 · 1 hr 4 min
Has Bitcoin Lost Its Narrative? | Fernando Nikolic
“Maybe it’s time to kill your heroes again, and Saylor is now the hero to slay in this cycle.” Fernando Nikolic is the founder of Perception. In this episode, we get into whether Bitcoin has lost its narrative, why Michael Saylor’s messaging has changed, and how narratives can move markets. Fernando breaks down the shift from Saylor’s early Bitcoin maximalist language to the more recent focus on credit, derivatives and Strategy as a financial product. We also get into whether Bitcoin’s rebel era is over, why the ETF approval may have marked the end of Bitcoin as a countercultural movement, and whether Bitcoin adoption is now becoming more fragmented, boring and inevitable. We also get into the death of monoculture, the way the internet has broken shared reality, and how AI, Spotify and algorithmic feeds are creating a more homogenised culture. THANKS TO OUR SPONSORS: ANCHORWATCH BLOCKWARE LEDN BITKEY SWAN CAPE FOLLOW: Danny Knowles: https://x.com/\_DannyKnowles or https://primal.net/danny Fernando Nikolic: https://x.com/basedlayer
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July 1 · 1 hr 9 min
The Final Stage Of The Bitcoin Bear Market | Joe Consorti
“Bitcoin’s value prop remains unchanged and a 50% drawdown isn’t something that should scare you. It should be viewed as an opportunity.” Joe Consorti is back on the show to break down why he thinks the Bitcoin bottom may be closer than many people expect, why $50k is the key level to watch, and why October or November could mark the final low before Bitcoin begins moving into its next bull market. We discuss: – Bitcoin below $60k – Whether the four-year cycle is still alive – The role of inflation, oil, midterms, and global liquidity – Why capital has rotated into the AI trade – Michael Saylor, Strategy, MSTR, STRC – Why central banks can’t stop printing money – Why the Bitcoin thesis remains unchanged THANKS TO OUR SPONSORS: ANCHORWATCH BLOCKWARE LEDN BITKEY SWAN CAPE FOLLOW: Danny Knowles: https://x.com/\_DannyKnowles or https://primal.net/danny Joe Consorti: https://x.com/JoeConsorti
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June 26 · 2 hr 34 min
The Dollar Changed. Bitcoin Is the Endgame | Matt Dines
“The game has changed, it’s very clear.” Matt Dines is a fixed-income portfolio manager and host of Mind Print Hash. In this episode, we get into why he believes the dollar system has already changed and why Bitcoin may be the endgame. For decades, global markets have been built around the offshore dollar system: LIBOR, Fed backstops, QE, ZIRP and the assumption that every crisis ends with more liquidity. But Matt argues that world is being replaced by something very different: a Treasury-led dollar system built around T-bills, SOFR, regulated stablecoins and a new set of geopolitical incentives. We discuss why 2022 was such an important inflection point, how the move from LIBOR to SOFR changed the structure of dollar markets, why the GENIUS Act matters for stablecoin rails, and what Treasury dominance means for the Fed, global credit and Bitcoin. We also get into MicroStrategy and STRC, the risks facing Bitcoin treasury companies, why dollar liquidity still drives Bitcoin markets, how geopolitics is reshaping the financial system, the path to a Strategic Bitcoin Reserve, and why holding real Bitcoin still matters. Bitcoin is not just another risk asset in this transition. It may become the base layer for a new monetary system, but getting there will be volatile, political and tied to the future of the dollar. In this episode: Strategy, STRC and Bitcoin treasury company risk From Fed dominance to Treasury dominance The end of the petrodollar Why capital markets are war by another means The path to a Strategic Bitcoin Reserve Why Bitcoin is the endgame THANKS TO OUR SPONSORS: ANCHORWATCH BLOCKWARE LEDN BITKEY SWAN CAPE FOLLOW: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Matt Dines: https://x.com/LeveredUSTs
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June 24 · 1 hr 3 min
Is Michael Saylor Trapped? STRC Explained | Adam Livingston
“The market is trying to find a villain right now—and Saylor is that guy.” Adam Livingston explains the pressure building around Michael Saylor, MicroStrategy and STRC as the preferred stock trades at $88, well below its $100 par value. Is STRC broken, or is the market mispricing Strategy’s credit risk? Adam explains how STRC works, why its yield has climbed above 13%, whether it can recover to par, and what Strategy’s capital structure means for MSTR shareholders. We also get into dilution, dividend coverage, Strategy’s use of its cash reserve and whether Saylor is now forced to keep accelerating his Bitcoin strategy. We also get into the Bitcoin bear market, the possibility of a market bottom and why Adam believes the current environment is presenting a major buying opportunity. In this episode: Why STRC is trading below par Whether Michael Saylor is trapped The risks facing MSTR shareholders Bitcoin treasury companies and “digital credit” Bitcoin’s potential market bottom The Fed, inflation and monetary repression THANKS TO OUR SPONSORS: ANCHORWATCH BLOCKWARE LEDN BITKEY SWAN CAPE FOLLOW: Danny Knowles: https://x.com/\_DannyKnowles or https://primal.net/danny Adam Livingston: https://x.com/AdamBLiv
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June 22 · 1 hr 16 min
The Fed Is Trapped: Why Double-Digit Inflation Is Inevitable | Lawrence Lepard
“The whole goddamn thing is a charade… finger in the air, wild-ass guess, total gaslighting and bullshit.” In this episode, Lawrence Lepard is back on the show to explain why the Fed is trapped between persistent inflation, an accelerating sovereign debt crisis and a financial system that cannot withstand genuinely tight monetary policy. Lawrence breaks down the Fed’s retreat from forward guidance, why its new playbook gives policymakers cover to change course without warning, and why he believes today’s hawkish stance will ultimately give way to rate cuts and more money creation. We also explore his “decade of inflation” thesis. He argues that the cycle began in 2020, that double-digit inflation is still ahead, and that a major disruption in the Treasury or bond market could trigger a “break-glass” response from the Fed, sending Bitcoin, gold and other hard assets dramatically higher. In this episode: • Why the Federal Reserve is abandoning forward guidance • How the Fed could redefine inflation • The sovereign debt problem • Why double-digit inflation is coming • Lawrence's outlook for Bitcoin and gold THANKS TO OUR SPONSORS: ANCHORWATCH BLOCKWARE LEDN BITKEY SWAN CAPE FOLLOW: Danny Knowles: https://x.com/\_DannyKnowles or https://primal.net/danny Lawrence Lepard: https://x.com/LawrenceLepard
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June 19 · 2 hr 19 min
The Hidden Battle for Global Power | Simon Dixon
“The real battle is not communism versus capitalism. It’s not the radical left versus the far right… They’re all a different flavour of the same agenda.” Simon Dixon is an entrepreneur & investor. In this episode we get into the decline of American hegemony, the rise of a multipolar world, the petrodollar, China, BRICS, Iran, Venezuela, energy, AI, surveillance and the institutions that operate above elected governments. He explains why he sees war, debt and political polarisation as mechanisms that move capital, concentrate wealth and reshape the global order. We also discuss where Bitcoin fits into all of this, why Wall Street wants it held in custody, and how leverage is used to separate people from their Bitcoin. THANKS TO OUR SPONSORS: ANCHORWATCH BLOCKWARE LEDN BITKEY SWAN CAPE FOLLOW: Danny Knowles: https://x.com/\_DannyKnowles or https://primal.net/danny Simon Dixon: https://x.com/SimonDixonTwitt
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June 17 · 1 hr 14 min
The Dollar Endgame Is Not What You Think | Peruvian Bull
“The dollar endgame is still in play, but it’s going to play out much differently than most people think.” Peruvian Bull, is a macro analyst and the author of Dollar Endgame. In this interview, we discuss why the collapse of the dollar is unlikely to play out the way most people expect, why the dollar remains so dominant despite America’s worsening debt problem, and why Japan may be the clearest warning signal for what comes next. We get into the eurodollar system, stablecoins, treasury demand, the yen carry trade, QE, yield curve control, zombie companies, and the ways central banks continue to create new tools to kick the can down the road. THANKS TO OUR SPONSORS: ANCHORWATCH BLOCKWARE LEDN BITKEY SWAN CAPE FOLLOW: Danny Knowles: https://x.com/\_DannyKnowles or https://primal.net/danny Peruvian Bull: https://x.com/peruvian_bull
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June 12 · 1 hr 4 min
The Best Bitcoin Buying Opportunity In History | Peter Dunworth
I still believe we've got 100X in front of us in the next 10 years… Bitcoin becomes undeniable." Peter Dunworth is the co-founder of The Bitcoin Adviser. Bitcoin is at $62,500, down 50% from the all-time high, and sentiment is the worst it has ever been. So why is the most bullish man in Bitcoin calling this the best buying opportunity in history? We discuss why the bottom is closer than you think, why the next cycle breaks every model, the wall of AI money waiting to rotate into Bitcoin, how the Clarity Act turns the US dollar into a global stablecoin empire, the coming death of all fiat currencies and the 30% property crash heading for Australia. In this episode: Why this is the best buying opportunity in Bitcoin's history The case for 100X in the next 10 years Why the AI trade will rotate into Bitcoin The Clarity Act: a global dollar takeover Saylor, Strategy and the S&P500 double standard Why property is "near uninvestable" THANKS TO OUR SPONSORS: ANCHORWATCH BLOCKWARE LEDN BITKEY SWAN CAPE FOLLOW: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Peter Dunworth: https://x.com/PeterBTCAdviser
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June 10 · 1 hr 31 min
How The State Makes Us Poorer | Max Hillebrand
"We are taught that the state builds our economy, but the reality is that every act of intervention is an act of wealth destruction." Max Hillebrand joins the show to tear down the Keynesian fallacies that keep us in a cycle of manufactured poverty and systemic theft. We go deep into the Austrian framework to explain why privacy isn't just a tech feature, it is the bedrock of a free economy. We discuss:\ The Theft Trap: Why taxation and inflation are definitionally coercion, and how they silently redistribute wealth from the productive to the state. \ The Broken Window Fallacy: Why building things we don’t need and destroying wealth through war is the ultimate economic delusion. \ The Consumption Trap: How state-manipulated metrics like GDP force us to prioritise over-consumption over the savings required for actual prosperity. \ The Minimum Wage Fallacy: A practical breakdown of why state interventions inevitably price the most vulnerable workers out of the market. \ The Cypherpunk Solution: Why increasing the cost of state attack and decreasing the cost of private defense is our only path to an unstoppable, parallel economy. THANKS TO OUR SPONSORS: ANCHORWATCH BLOCKWARE LEDN BITKEY SWAN CAPE FOLLOW: Danny Knowles: https://x.com/\_DannyKnowles or https://primal.net/danny Max Hillebrand: https://towardsliberty.com/ The Praxeology of Privacy: https://towardsliberty.com/pop
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June 4 · 1 hr 11 min
Why BIP110 Won’t Change Bitcoin | Mr Hodl & Wicked
“In the end, it’s the economic majority of users who decide what Bitcoin is.” Wicked and MrHodl join the show to break down why BIP110 won’t change Bitcoin. We get into the fight over arbitrary data on Bitcoin, why they believe BIP110 fails to solve the problem it claims to address, and why miner signalling alone does not define consensus. The conversation covers Bitcoin Core, Knots, the blocksize war, SegWit, BIP148, spam, soft forks, hard forks, nodes, miners, exchanges, and the role of the economic majority in defending Bitcoin’s rules. Is BIP110 a serious proposal, a virtue signal, or an attempted replay of old battles? And if Bitcoin can be changed without broad consensus, what does that mean for decentralisation? THANKS TO OUR SPONSORS: ANCHORWATCH BLOCKWARE LEDN BITKEY SWAN CAPE FOLLOW: Danny Knowles: https://x.com/\_DannyKnowles or https://primal.net/danny MrHodl: https://x.com/MrHodl Wicked: https://x.com/w_s_bitcoin
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Showing 21–34 of 34 episodes