The Bitcoin Matrix

In this episode of the Bitcoin Matrix Podcast, I chat with Richard Byworth, a seasoned investment banker turned Bitcoin maximalist, live from the Bitcoin Conference in Las Vegas. We explore the mechanics and evolution of convertible bonds, Bitcoin treasury strategies, and why institutional players are waking up to Bitcoin’s potential.  ––– Offers & Discounts ––– Theya is the world’s simplest Bitcoin self-custody solution. Download Theya Now at theya.us/cedric Get up to $100 in Bitcoin on River at river.com/Matrix The best Team Bitcoin merch is at HodlersOfficial.com. Use the code Matrix for a discount on your order. Become a sponsor of the show: https://thebitcoinmatrix.com/sponsors/ [https://thebitcoinmatrix.com/sponsors/] ––– Get To Know Today's Guest ––– • Richard Byworth on X: https://x.com/RichardByworth [https://x.com/RichardByworth] ––– Socials ––– • Check out our new website at https://TheBitcoinMatrix.Com [https://TheBitcoinMatrix.Com] • Follow Cedric Youngelman on X: https://x.com/cedyoungelman [https://x.com/cedyoungelman] • Follow The Bitcoin Matrix Podcast on X: https://x.com/_bitcoinmatrix [https://x.com/_bitcoinmatrix] • Follow Cedric Youngelman on Nostr: npub12tq9jxmt707gd5vnce3tqllpm67ktr0mqskcvy58qqa4d074pz9s4ukdcs  ––– Chapters ––– 00:00 - Intro 01:14 - Richard's Background  02:52 - Building Nomura’s Convertible Bond Business  05:53 - Becoming a Bitcoin Maximalist  07:43 - Explaining Convertible Bonds for Bitcoiners  09:28 - Convertible Bonds as Institutional Tools  10:17 - Why MicroStrategy Can Issue Zero-Coupon Convertibles  12:44 - Will Bitcoin Volatility Increase or Decrease?  14:10 - Forecasting a Supply Crunch and Volatility Spike  14:59 - The Bitcoin Treasury Company Playbook  16:17 - Metaplanet’s Strategic Innovation  19:34 - Accretive Dilution vs Traditional Dilution  24:05 - Short Squeezes and Japan’s Market Mechanics  27:26 - The Debate Around Proof of Reserves  33:47 - Future of BTC Dividends and Financial Engineering  34:28 - Why TradFi Still Doesn’t Understand Bitcoin  37:14 - Where Is Real Bitcoin Price Discovery?  38:55 - ETF Flows and Institutional Demand Signals  40:08 - Satoshis vs BTC: The Unit Bias Debate  42:10 - Advice for High-Net-Worth Investors Considering Bitcoin  I want to take a moment to express my heartfelt gratitude to all of you for tuning in, supporting the show, and contributing. Thank you for listening!

In this episode, I sit down with Bob Burnett, the founder and CEO of Barefoot Mining. We dive into the psychological and structural challenges facing Bitcoin today, from developer-community disconnects to the risks of cultural stagnation and the need for evolved governance. ––– Offers & Discounts ––– ⭐ Get 10% OFF Blockhunters — the ultimate Bitcoin board game. Visit https://blockhuntersgame.com/ and use code btcmatrix at checkout! Get 10% off your ticket for the Bitcoin Conference 2025 in Vegas! Use the promo code MATRIX at https://tickets.b.tc/affiliate/matrix/event/bitcoin-2025 [https://tickets.b.tc/affiliate/matrix/event/bitcoin-2025] Theya is the world’s simplest Bitcoin self-custody solution. Download Theya Now at theya.us/cedric Get up to $100 in Bitcoin on River at river.com/Matrix The best Team Bitcoin merch is at HodlersOfficial.com. Use the code Matrix for a discount on your order. Become a sponsor of the show: https://thebitcoinmatrix.com/sponsors/ [https://thebitcoinmatrix.com/sponsors/] ––– Get To Know Today's Guest ––– • Bob Burnett on X: https://x.com/boomer_btc [https://x.com/boomer_btc] ––– Socials ––– • Check out our new website at https://TheBitcoinMatrix.Com [https://TheBitcoinMatrix.Com] • Follow Cedric Youngelman on X: https://x.com/cedyoungelman [https://x.com/cedyoungelman] • Follow The Bitcoin Matrix Podcast on X: https://x.com/_bitcoinmatrix [https://x.com/_bitcoinmatrix] • Follow Cedric Youngelman on Nostr: npub12tq9jxmt707gd5vnce3tqllpm67ktr0mqskcvy58qqa4d074pz9s4ukdcs ––– Chapters ––– 00:00 - Intro 01:11 - Bob’s Background 06:02 - Bitcoin’s Adoption Curve 09:08 - Early Majority Psychology 14:20 - Lessons from the PC Boom 17:26 - Community Schism 21:47 - Perception vs. Price 24:25 - Governance Without Leaders 32:10 - Communication Breakdown 40:33 - What Is OP_RETURN? 46:10 - Spam vs. Freedom 52:36 - Miner Incentives 58:24 - Future of Block Space 01:06:22 - Core Dev Frustration 01:13:11 - When to Change Bitcoin 01:15:09 - Time Bug & Quantum Threat 01:21:00 - Satoshi’s Coins 01:26:05 - Institutional Shifts 01:32:10 - Conservatism vs. Change 01:35:15 - Final Thoughts I want to take a moment to express my heartfelt gratitude to all of you for tuning in, supporting the show, and contributing. Thank you for listening!

In this episode, I sit down with Adam Meister, a Bitcoin OG, and a relentless promoter of strong hands and long-term thinking. Adam first bought Bitcoin in 2013, has never sold a coin, and lives by the ethos that “deferral of gratification” is the true path to freedom. ––– Offers & Discounts ––– ⭐ Get 10% OFF Blockhunters — the ultimate Bitcoin board game. Visit https://blockhuntersgame.com/ and use code btcmatrix at checkout! Get 10% off your ticket for the Bitcoin Conference 2025 in Vegas! Use the promo code MATRIX at https://tickets.b.tc/affiliate/matrix/event/bitcoin-2025 [https://tickets.b.tc/affiliate/matrix/event/bitcoin-2025] Theya is the world’s simplest Bitcoin self-custody solution. Download Theya Now at theya.us/cedric Get up to $100 in Bitcoin on River at river.com/Matrix The best Team Bitcoin merch is at HodlersOfficial.com. Use the code Matrix for a discount on your order. Become a sponsor of the show: https://thebitcoinmatrix.com/sponsors/ [https://thebitcoinmatrix.com/sponsors/] ––– Get To Know Today's Guest ––– • Adam Meister on X: https://x.com/TechBalt [https://x.com/TechBalt] ––– Socials ––– • Check out our new website at https://TheBitcoinMatrix.Com [https://TheBitcoinMatrix.Com] • Follow Cedric Youngelman on X: https://x.com/cedyoungelman [https://x.com/cedyoungelman] • Follow The Bitcoin Matrix Podcast on X: https://x.com/_bitcoinmatrix [https://x.com/_bitcoinmatrix] • Follow Cedric Youngelman on Nostr: npub12tq9jxmt707gd5vnce3tqllpm67ktr0mqskcvy58qqa4d074pz9s4ukdcs ––– Chapters ––– 00:00 - Intro 01:05 - Welcoming Back Adam Meister 04:17 - The 4-Year Cycle and Adam’s Never-Sell Strategy 05:27 - Leveraging Bitcoin for Fiat in 2025 08:17 - U.S. Bitcoin Policy & Stablecoins vs FedCoin 10:23 - Stablecoins, Dollar Dominance, and Self-Custody 12:12 - Mental Resistance to Spending Bitcoin 18:06 - Political Shift: From Anti-Crypto to Bitcoin Embraced 19:10 - Identity, Image, and What Real Wealth Looks Like 23:24 - Bitcoin, Family, and Gratification Deferral 27:15 - Being Part of the Innovation Frontier 29:52 - Staying Stoic Through Forks and Fear 31:08 - The Mental Struggle with Fulfillment 33:36 - Disappearing Bitcoin Millionaires & Safety Concerns 35:59 - Adam’s Austerity & Global Travel Tips 38:03 - Recognition, Humility, and Local Identity 39:04 - Roger Ver, Forced Hodlers & Buying Mistakes 42:01 - Sacrifice, Hard Days & It’s Not Luck 45:19 - Class Warfare vs Individual Empowerment 48:16 - Bitcoin & Political Crossfire 50:08 - Be Principled, Not Populist 52:07 - The “Working Man” Myth & Opportunity in the U.S. 53:14 - Rejecting Class Warfare for Cultural Understanding 56:13 - Bitcoin Connects the World 57:18 - Escape from Fiat Dependency 59:17 - Life Without 9-to-5: The Freedom Bitcoin Brings 01:00:21 - The Bitcoin Overlay 01:00:21 - Living in the Bitcoin Overlay During Crisis 01:01:07 - Staying Calm Through the 2020 Panic 01:02:45 - Why Adam Avoids Traditional Wealth Displays 01:04:10 - Freedom From the Fiat Mindset 01:06:30 - Advice for Young Bitcoiners 01:08:12 - Stories of Forced HODLing and Regret 01:10:00 - Calling Out Fake OGs & Clickbait Culture 01:12:05 - Bitcoiners Who Disappeared Into Privacy 01:15:27 - Staying Humble Despite Millions 01:17:15 - Cheap Living, Smart Travel, and Baltimore Roots 01:19:05 - Why Deferring Gratification Pays Off 01:23:25 - Connecting Across Cultures Through Bitcoin 01:25:10 - Rejecting Class Warfare and Scapegoating 01:29:00 - Why Bitcoin Is Still the Best Bet 01:31:00 - Parting Wisdom from a True OG I want to take a moment to express my heartfelt gratitude to all of you for tuning in, supporting the show, and contributing. Thank you for listening!

In this episode of the Bitcoin Matrix Podcast, I chat with Tad Smith, the former CEO of Sotheby’s and Madison Square Garden, and the current CEO of Durable Money. We also dig deep into investing, valuation frameworks, AI, tariffs, and the future of American labor. Meet the man who’s led billion-dollar companies and still chose to go down the Bitcoin rabbit hole.  ––– Offers & Discounts ––– ⭐ Get 10% OFF Blockhunters — the ultimate Bitcoin board game. Visit https://blockhuntersgame.com/ and use code btcmatrix at checkout! Get 10% off your ticket for the Bitcoin Conference 2025 in Vegas! Use the promo code MATRIX at https://tickets.b.tc/affiliate/matrix/event/bitcoin-2025 [https://tickets.b.tc/affiliate/matrix/event/bitcoin-2025] Theya is the world’s simplest Bitcoin self-custody solution. Download Theya Now at theya.us/cedric Get up to $100 in Bitcoin on River at river.com/Matrix The best Team Bitcoin merch is at HodlersOfficial.com. Use the code Matrix for a discount on your order. Become a sponsor of the show: https://thebitcoinmatrix.com/sponsors/ [https://thebitcoinmatrix.com/sponsors/] ––– Get To Know Today's Guest ––– • Tad Smith on X: https://x.com/tadtweets [https://x.com/tadtweets] ––– Socials ––– • Check out our new website at https://TheBitcoinMatrix.Com [https://TheBitcoinMatrix.Com] • Follow Cedric Youngelman on X: https://x.com/cedyoungelman [https://x.com/cedyoungelman] • Follow The Bitcoin Matrix Podcast on X: https://x.com/_bitcoinmatrix [https://x.com/_bitcoinmatrix] • Follow Cedric Youngelman on Nostr: npub12tq9jxmt707gd5vnce3tqllpm67ktr0mqskcvy58qqa4d074pz9s4ukdcs ––– Chapters ––– 00:00 - Intro 01:10 – Meet Tad Smith: Ex-CEO Turned Bitcoiner 02:30 – Childhood in Denver & Ivy League Choice 04:00 – JP Morgan, HBS & Rockefeller Days 07:00 – Music & Media Career: BMG to McKinsey 09:00 – Corporate Climb: Starwood, Elsevier, MSG 14:00 – Sotheby’s CEO & Bitcoin Rabbit Hole 17:00 – Teaching Finance & Discovering Bitcoin 21:30 – Fiat Illusion: Markets vs. Money Supply 25:00 – Kubler-Ross Model of Bitcoin Adoption 28:00 – Tech Patterns: Yahoo, Google, Amazon 33:00 – Collectibles, Scarcity & Emotional Investing 36:00 – Tad’s Personal Stock Bets 39:00 – Indexing & Monopoly Dynamics 43:00 – Bitcoin as the Benchmark 48:00 – Portfolio Moves: Strategy, Options, Art 52:00 – The Maxi Mindset 54:00 – Tariffs & AI’s Economic Impact 59:00 – Robots & Reshoring Risks 1:03:00 – Purpose Beyond Work 1:06:00 – AI & Post-Work Societies 1:09:00 – America’s Economic Reckoning 1:12:00 – Fixing Education & National Confidence 1:15:00 – Long-Term Optimism Despite Chaos 1:18:00 – The Battle for Bitcoin Narrative 1:21:00 – Bitcoin’s Role in the Next Economy 1:24:00 – What TradFi Still Misses About Bitcoin 1:28:00 – Advice to Young Investors 1:31:00 – Thoughts on Bitcoin ETFs & Regulation 1:35:00 – Why Bitcoin Is Undervalued 1:38:00 – Bitcoin in a Multipolar World 1:41:00 – Preparing for Hyperbitcoinization 1:44:00 – Final Thoughts on Freedom & Legacy I want to take a moment to express my heartfelt gratitude to all of you for tuning in, supporting the show, and contributing. Thank you for listening!

In this episode of the Bitcoin Matrix, I chat with Preston Pysh who brings clarity as we explore the unraveling of the petrodollar system and the seismic shift toward a Bitcoin-centric financial future. ––– Offers & Discounts ––– 🚨 SCAN THE QR CODE on the screen to enter our contest and get a chance to win a Blockhunters board game! 🚨 ⭐ Get 10% OFF Blockhunters — the ultimate Bitcoin board game. Visit https://blockhuntersgame.com/ and use code btcmatrix at checkout! Get 10% off your ticket for the Bitcoin Conference 2025 in Vegas! Use the promo code MATRIX at https://tickets.b.tc/affiliate/matrix/event/bitcoin-2025 [https://tickets.b.tc/affiliate/matrix/event/bitcoin-2025] Theya is the world’s simplest Bitcoin self-custody solution. Download Theya Now at theya.us/cedric Get up to $100 in Bitcoin on River at river.com/Matrix The best Team Bitcoin merch is at HodlersOfficial.com. Use the code Matrix for a discount on your order. Become a sponsor of the show: https://thebitcoinmatrix.com/sponsors/ [https://thebitcoinmatrix.com/sponsors/] ––– Get To Know Today's Guest ––– • Preston Pysh on X: https://x.com/PrestonPysh [https://x.com/PrestonPysh] • Preston Pysh on Nostr: npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z ––– Socials ––– • Check out our new website at https://TheBitcoinMatrix.Com [https://TheBitcoinMatrix.Com] • Follow Cedric Youngelman on X: https://x.com/cedyoungelman [https://x.com/cedyoungelman] • Follow The Bitcoin Matrix Podcast on X: https://x.com/_bitcoinmatrix [https://x.com/_bitcoinmatrix] • Follow Cedric Youngelman on Nostr: npub12tq9jxmt707gd5vnce3tqllpm67ktr0mqskcvy58qqa4d074pz9s4ukdcs ––– Chapters ––– 00:00 - Intro 01:26 - Meet Preston Pysh 04:02 - Inflation & Petrodollar Collapse 06:33 - Bitcoin as a System & Unit of Account 08:17 - Stablecoins, Debt & Taproot Assets 11:03 - Gold vs Bitcoin Post-COVID 13:56 - Fake Gold & Verification 16:04 - Nodes, Proof & Self-Custody 19:06 - Tariffs & Onshoring Risks 24:02 - Currency Wars & Strategy 25:48 - Can Bitcoin Prevent War? 28:02 - Bretton Woods 2.0 30:21 - Nationalism vs Humanity 32:58 - Tariffs & Automation 37:22 - Volatility & Derivatives 39:55 - Fiat vs Real Money 42:48 - Bond Market Mayhem 45:42 - Jack Mallers & BTC Treasuries 47:30 - FDIC & Fiat Limits 52:36 - BTC Treasuries & Corporates 54:38 - 2025 Predictions 56:49 - Ross Ulbricht & Support 57:36 - Preston’s Links & Wrap-Up 59:13 - Reading & Prep Secrets I want to take a moment to express my heartfelt gratitude to all of you for tuning in, supporting the show, and contributing. Thank you for listening!