Family man · Host, The @_BitcoinMatrix Podcast · Advisor to early-stage, startup & high-growth companies
tinyurl.com/bitcoinonyoutube
Joined May 2009
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@_BitcoinMatrix #286: @hodlonaut - The Fight for Bitcoin
"If no one fights for Bitcoin, Bitcoin will very soon be dead."
The Space Cat on what's happening inside Bitcoin Core, the five-year Craig Wright war, and why he's all-in on BIP-110.
🎧 youtube.com/watch?v=hXQGKGVS…
Cedric Youngelman ⚡️ retweeted
#164: @TFL1728 - The Myth of America
Prepare to be dazzled as we venture into unexpected territory. Tom's expertise, laced with his wicked sense of humor, will keep you on the edge of your seat as we explore geopolitics, dissect the economy & more.
🎧 podcasts.apple.com/us/podcas…
Cedric Youngelman ⚡️ retweeted
#170: #Bitcoin is Time Traveling Energy with
@MichaelDunwort1
We discuss:
- Why people are prime numbers
- How we’ve never had a canvas as expressive as Bitcoin before
- Why someone would send #Btc 120 yrs into the future & broadcast their private keys
🎧podcasts.apple.com/us/podcas…
Cedric Youngelman ⚡️ retweeted
@_BitcoinMatrix #226: Fiat Food
In this episode, I sit down with @Matthewlysiak, a nationally recognized investigative journalist and author of Fiat Food: Why Inflation Destroyed Our Health and How Bitcoin Fixes It.
📺youtube.com/watch?v=i5m1BOXX…
Cedric Youngelman ⚡️ retweeted
@_BitcoinMatrix #250: @jimmysong - Is Bitcoin About To Change Forever?
We dive deep into the political undercurrents around Bitcoin Core development, funding models, and decentralization theater.
📺youtube.com/watch?v=2zEWPMKu…
He said this before the activation date. BIP-110 failed. I keep coming back to this line, and I don’t think Mechanic was being dramatic. Worth sitting with #283 again. 👇
@_BitcoinMatrix #283: @GrassFedBitcoin - Inside Bitcoin's Civil War
"If BIP-110 fails, Bitcoin will have had its soul divorced from it. That will spell the end."
Bitcoin Mechanic on the spam war, Core gone rogue, and why the nodes are the final boss.
🎧youtube.com/watch?v=yRjzSb-g…
Cedric Youngelman ⚡️ retweeted
She is 100% correct. I remember during my undergrad I took Organic Chemistry and my professor taught us an awesome experiment. She had the whole class collect a handful of leaves in the fall and they were placed into a receptacle and monitored. Turns out dead leaves release abundant amounts of Oxygen.
Leaves are great for people.
Trees provide even while dying.
Cedric Youngelman ⚡️ retweeted
BIP-110 is dead. The capture Hodlonaut warned about is not. Everything the Space Cat laid out in #286 reads differently now that the vote went the other way. If you skipped it in August, this is the one to go back to. 👇
Bitcoin didn't win.
Bitcoin can change. Bitcoin is changing. Bitcoin has changed. We fell in love with a thing that was set in stone, and then we bypassed the one layer that actually holds it in place: the humans. While we posted "number go up," the reference implementation was being quietly captured. If no one fights for Bitcoin, Bitcoin will very soon be dead.
Who is actually running Bitcoin Core, and who is allowed to audit them?
@hodlonaut, the Space Cat, the citizen journalist who told the simple truth about Craig Wright and then stood in the fire for five years over it, came on to lay out the fight consuming Bitcoin right now, in plain English: how he found Bitcoin and shepherded the Lightning Torch, what the five-year Craig Wright war taught him about choosing principles over outcome, his Capture series and how informal power over Bitcoin Core was assembled and defended, the DEI and "extractive" playbook used to shut down anyone who asked questions, why every line of code must serve monetary sovereignty, the real cost of running a node at 10x and 100x, and why he went from BIP-110 skeptic to all-in.
Send this to anyone who thinks Bitcoin already won.
TIMESTAMPS:
0:00 A message on ColdCard
3:17 Cold open: "What is real?"
3:34 Welcome the Space Cat, on a brutal day
4:30 An apology for promoting ColdCard
6:15 The Capture series: a Bitcoin citizen journalist
11:24 A year away, and the shock of coming back
18:38 The node runner's stake: the canary in the mine
20:58 Citadel21, Surfer Jim & the culture
23:18 Finding Bitcoin in 2013: the Pirate Bay ethos
25:51 The birth of Hodlonaut & the Space Cat
27:56 The Lightning Torch: an experiment in trust
31:21 Craig Wright's letter, the bounty & the doxxing
34:38 Nine tweets, five years: telling the truth
35:24 Lightning today & "it feels like Ethereum"
38:54 What Craig Wright taught him: principles over outcome
41:05 Trust vs verify, and its limits
44:48 How Core's power was assembled: the priesthood
49:30 The Gavin/CIA flag & full-time Core
53:10 The armor: DEI & "extractive"
57:58 What makes a good Bitcoin coder
1:00:13 "Every line of code must serve monetary sovereignty"
1:04:43 Sponsors
1:06:30 The Matt Corallo quote & the inflation-bug rehire
1:10:32 How old was Satoshi?
1:13:30 BIP-110: judge the idea, not the messenger
1:21:53 We bypassed the social layer: fight for Bitcoin
1:24:24 The real fight is the ledger & the node-cost problem
1:28:50 Why he fully supports BIP-110 now
1:33:36 The technical merits: "node runners don't matter"
1:36:10 The three buckets & why people won't engage
1:44:08 Change capital vs "this is our shot"
1:47:07 If BIP-110 fails: the fallout
1:51:30 Ossification & the anti-spam team
1:54:36 Article 4 & his July accident
1:56:00 Closing: form your own conviction
2:01:46 Outro
🎧youtube.com/watch?v=hXQGKGVS…
Then watch #285: Defending Bitcoin with @lukedewolf, the cybersecurity case for the same fight.
🎧youtube.com/watch?v=wV-w9BxY…
Five years of getting told to sit down, and he never stopped fighting. Whatever you think about BIP-110, Hodlonaut’s point stands: Bitcoin isn’t self-maintaining. Someone has to care. This conversation stuck with me. 👇
@_BitcoinMatrix #286: @hodlonaut - The Fight for Bitcoin
"If no one fights for Bitcoin, Bitcoin will very soon be dead."
The Space Cat on what's happening inside Bitcoin Core, the five-year Craig Wright war, and why he's all-in on BIP-110.
🎧 youtube.com/watch?v=hXQGKGVS…
Cedric Youngelman ⚡️ retweeted
AI is literally a scam, the most sophisticated scam ever. They created a machine that mimics the output of intelligence. Then told everyone it was really intelligent — an impossibility, but the illusion was convincing. Based on that deception, they fleeced investors of trillions.
Cedric Youngelman ⚡️ retweeted
as true today as it was in August.
Hodlonaut on the illusion that just shattered:
"We bypassed the social layer, the human layer. We somehow thought the virtue and direction of this protocol was set in stone, no matter what developers do. That's obviously not true.
Bitcoin didn't win. Bitcoin can change. Bitcoin is changing. Bitcoin has changed. The illusion that we had a foothold in this world we could put our energy on, that illusion is gone right now.
All you want is to sit back posting 'Bitcoin fixes this, number go up, stay humble, stack sats,' and anyone sounding an alarm is seen as a threat. We need Bitcoiners to fight for Bitcoin. If no one fights for Bitcoin, Bitcoin will very soon be dead."
@hodlonaut on The @_BitcoinMatrix #286.
Cedric Youngelman ⚡️ retweeted
Hodlonaut on the illusion that just shattered:
"We bypassed the social layer, the human layer. We somehow thought the virtue and direction of this protocol was set in stone, no matter what developers do. That's obviously not true.
Bitcoin didn't win. Bitcoin can change. Bitcoin is changing. Bitcoin has changed. The illusion that we had a foothold in this world we could put our energy on, that illusion is gone right now.
All you want is to sit back posting 'Bitcoin fixes this, number go up, stay humble, stack sats,' and anyone sounding an alarm is seen as a threat. We need Bitcoiners to fight for Bitcoin. If no one fights for Bitcoin, Bitcoin will very soon be dead."
@hodlonaut on The @_BitcoinMatrix #286.
Cedric Youngelman ⚡️ retweeted
“What would change my mind?” is a useful question to ask yourself, especially when you feel certain.
Cedric Youngelman ⚡️ retweeted
100%. I always say critical thinking is worth more than all the money or Bitcoin in the world. If you can’t think for yourself, none of it matters. 🧠₿
Cedric Youngelman ⚡️ retweeted
Wall Street can't break Bitcoin's 21 million hard cap on-chain, so they built a massive "Paper Bitcoin" casino off-chain to suppress the price.
Here are the 4 categories of Bitcoin derivatives and exactly how much they let institutions cheat. 👇
1️⃣ CATEGORY 1: "Pure Paper"
Level of Cheating: INFINITE ♾️
Products: Perpetual Swaps (Perps), CME Cash-Settled Futures, Cash Options.
The Cheat: 100% paper. Neither side owns actual $BTC. They just bet fiat on the price. This creates infinite synthetic supply and allows billions in leverage to dictate price discovery instead of real scarcity.
2️⃣ CATEGORY 2: "Rehypothecation"
Level of Cheating: HIGH / SYSTEMIC RISK ⚠️
Products: Prime Brokerage, OTC Swaps, Institutional Lending.
The Cheat: You deposit 1 physical BTC. They lend it to a hedge fund to short, who sells it to a new buyer. Now multiple people think they own the exact same coin. This "shadow finance" multiplies the paper float and causes FTX/Celsius style collapses.
3️⃣ CATEGORY 3: "Operational Shorting"
Level of Cheating: TEMPORARY BUT HEAVY ⏱️
Products: Spot Bitcoin ETFs (like IBIT, FBTC).
The Cheat: The SEC "Cash Create" model + Reg SHO exemptions. Authorized Participants (APs) can legally sell you ETF shares they haven't created yet. Thanks to T+6 settlement delays, they absorb your spot buying pressure with synthetic shares, delaying the pump.
4️⃣ CATEGORY 4: "Fully Backed"
Level of Cheating: ZERO 🛡️
Products: Physically-Settled Futures, transparent On-Chain Wrapped $BTC.
The Reality: These require 1:1 real Bitcoin locked up before trading. They don't artificially expand the supply. Sadly, they make up a tiny fraction of total trading volume.
The takeaway? Wall Street uses paper derivatives to dilute your purchasing power and turn a scarce asset into a fractional reserve game.
There is only one way to break their casino and force true price discovery:
Buy real spot. Withdraw to cold storage.
#Bitcoin #CryptoNews #WallStreet