エピソード

  • Episode #185 – ABS Ratings = Milkshake NGU

    Episode #185 – ABS Ratings = Milkshake NGU
    2026/02/26
    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, and cleared investment-grade treatment on senior notes. That is not just a headline event. It is a structural transition where Bitcoin collateral gets translated into bond language: […]
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    36 分
  • Episode #184 – On the Same Page

    Episode #184 – On the Same Page
    2026/02/19
    Two independent research teams arrive at the same conclusion: Bitcoin blocks are quantized time. How K=IC2 reframes the bitcoin thesis through the physics of information, constraint quality, and the Cf/Cp ratio.
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    1分未満
  • Episode #183 – Capital in the 22nd Century

    Episode #183 – Capital in the 22nd Century
    2026/01/23
    A response to the paper Capital in the 22nd Century. The paper argues AI will create permanent techno-feudalism. Its starting assumptions are profoundly wrong. Wealth is not a stock of stuff. It is the set of problems we know how to solve.
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    1分未満
  • Episode #182 – Kabuki Theatre

    Episode #182 – Kabuki Theatre
    2025/12/05
    The financial system is Kabuki Theater. AI content floods the internet while nobody can tell real from fake. Bitcoin bridges physical cost to digital information. The reverse repo, declining loan rates, and why early adopters still have a massive advantage.
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    1分未満
  • Episode #181 – Fermi’s Folly

    Episode #181 – Fermi’s Folly
    2025/11/11
    Episode 181 reframes Fermi's Paradox through information theory, constraint quality, and the bitcoin thesis in an age of synthetic abundance.
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    38 分
  • Episode #180 – Gradients Are Everywhere

    Episode #180 – Gradients Are Everywhere
    2025/11/03
    This episode explains how monetary gradients drive capital from trust-heavy systems toward verification-heavy systems, reinforcing the long-term bitcoin thesis.
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    34 分
  • Episode #179 – Pizza Dough

    Episode #179 – Pizza Dough
    2025/10/29
    46 分
  • Episode #178 – What Constrains the Constraints

    Episode #178 – What Constrains the Constraints
    2025/10/24
    26 分