Podcast
Fundamentals of Fundamentals
Hosted by Fundamentals · EN
Fundamentals explains his tweets and speaks his mind without character constraints
21episodes
Episodes
Newest firstAll episodes
Austrian Economics: The God that Failed (solo)
2d ago00:28:26Tap to summarizeIn this solo riff, I challenge an Overton window many Bitcoiners (and I once) held sacred: that Austrian economics is a complete economic theory rather than a powerful tool for debunking bad ones. Sparked by reading Irreducible by Federico Faggin, I draw a parallel between classical vs. quantum physics and classical vs. Austrian economics, arguing that Austrian thought excels at telling us what economics is not—but becomes a trap when treated as a unifying theory. I share how reverence for Mises, Rothbard, and Hoppe helped me cut through intellectual tyranny, yet nearly led me into “wrong-think” when I tried to force every question through their lens. From Keynes to Hayek, from Newton to Planck, I urge the Bitcoin thinking class to resist authority worship, expand the reading list to include classical economists like Adam Smith and Milton Friedman, and remain in inquiry. Austrian ideas are invaluable lightsabers for avoiding errors, not priestly dogmas to close debates—especially when we’re still collectively figuring out what Bitcoin is and what a hard-money world may or may not look like.'Irreducible: Consciousness, Life, Computers, and Human Nature' (Federico Faggin): https://www.amazon.com/Irreducible-Consciousness-Computers-Human-Nature/dp/1956259105Federico Faggin (biography): https://en.wikipedia.org/wiki/Federico_Faggin'Human Action' (Ludwig von Mises): https://en.wikipedia.org/wiki/Human_ActionHans-Hermann Hoppe: https://en.wikipedia.org/wiki/Hans-Hermann_Hoppe'Democracy: The God That Failed' (Hans-Hermann Hoppe): https://en.wikipedia.org/wiki/Democracy:_The_God_That_FailedMurray Rothbard: https://en.wikipedia.org/wiki/Murray_RothbardJohn Maynard Keynes: https://en.wikipedia.org/wiki/John_Maynard_KeynesFriedrich A. Hayek (Nobel Prize facts, 1974): https://www.nobelprize.org/prizes/economic-sciences/1974/hayek/facts/Adam Smith: https://en.wikipedia.org/wiki/Adam_SmithMilton Friedman: https://en.wikipedia.org/wiki/Milton_FriedmanAustrian School (overview): https://en.wikipedia.org/wiki/Austrian_SchoolPraxeology: https://en.wikipedia.org/wiki/PraxeologyBitcoin (project site): https://bitcoin.orgClassical mechanics: https://en.wikipedia.org/wiki/Classical_mechanicsQuantum field theory: https://en.wikipedia.org/wiki/Quantum_field_theoryIsaac Newton: https://en.wikipedia.org/wiki/Isaac_NewtonGalileo Galilei: https://en.wikipedia.org/wiki/Galileo_GalileiNicolaus Copernicus: https://en.wikipedia.org/wiki/Nicolaus_CopernicusAlbert Einstein: https://en.wikipedia.org/wiki/Albert_EinsteinMax Planck: https://en.wikipedia.org/wiki/Max_Planck
Transcribe →Bigger Picture Bitcoin w/ Steven Lubka
2w ago01:00:33Tap to summarizeIn this episode, I sit down with Steven Lubka to reflect on the last few years of Bitcoin culture—from the electric energy of 2021–2023 Twitter Spaces to why the vibe inevitably tracks the price. We dig into how higher interest rates changed capital allocation, why dispersion has returned to markets, and how that raises the bar for real innovation versus ZIRP-era junk. We also revisit the UK LDI scare and the 2023 U.S. bank stress to ask what the Fed actually proved about its ability to “kick the can,” and what Bitcoiners often get wrong about system fragility versus resilience.From pleb slop and rigid certainties to the harder work of holding nuanced, probabilistic views, Steven and I talk about conviction over decades, why mining is a full-on industrial business (not a casual hobby), and how years spent in Bitcoin unexpectedly prepared us for the AI acceleration now reshaping everything. We close on the importance of gradual change, personal growth, and building the grit to survive-and-advance through volatility, FUD, and the long arc of adoption.'Magic Internet Math (host’s project)': https://magicinternetmath.com/
Transcribe →Extroverted Abuelitos w/ Jhonny Delgados Fuego
3w ago01:12:50Tap to summarize7/11 Bitcoin en Español event at Pubkey NYC:https://www.satlantis.io/events/1663/Bitcoin-en-Espa%C3%B1olLocal Block Market # 7 at Olde Mecklenburg Brewey LoSo, Charlotte, NC:https://www.satlantis.io/events/2203/local-block-market-7Delgado's Fuego Store:https://delgadosfuego.com/collections/allMotivPeru's Copa Bitcoin 2026 at Huanchaco, Peru:https://motivperu.ngo/en/copa-bitcoin/I’m joined by Johnny “Delgado del Fuego,” the Peruvian-born, Charlotte-based hot sauce maker and Bitcoiner I met at the Grassroots weekend. We trace the roots of Delgado’s Fuego from family July 4th cookouts and his father’s legendary rocoto aji to award-winning farmers’ market staples, and how sharing food built real-world community around Bitcoin meetups. Johnny shares his winding Bitcoin journey—from NYC subway sticker sightings in 2015–2016 to helping lead Bitcoin Charlotte, starting Orange‑pill efforts in Peru, and partnering with Motiv Perú to foster circular Bitcoin economies. We also swap stories about caring for (and energizing) our elders, Latin American family culture, and why in-person meetups matter more than ever in a hyper-connected but isolated world.Then we geek out on music and experience: Johnny’s first-ever Phish show at Sphere Las Vegas, the band’s Halloween “costume set” tradition, and why the Fuego era signaled reinvention and longevity. We compare flavor-over-gimmick hot sauce culture with the “prove you can take the heat” carnival of super-hots, dream up a Bitcoin x food ecosystem, and preview Spanish‑only Bitcoin events at Pubkey NYC plus Peru travel ideas—from Lima to Huanchaco’s surf scene and the upcoming Copa Bitcoin. Come for the rocoto, stay for the relationships—and maybe queue up Phish’s Llama while you sauce your next plate.
Transcribe →Fixing Bitcoin Payments w/ Keith Gardner
3w ago01:15:59Tap to summarizeIn this episode, I sit down with Keith Gardner, founder and CEO of Branta, to unpack a deceptively simple but critical missing piece in Bitcoin: pre‑payment verification. Fresh off the Vegas conference energy, we talk about how real‑world spending still feels nerve‑wracking—from my early Ledger Live panic to sending tuition via an Unchained vault—and why man‑in‑the‑middle risks and fat‑finger errors make many users hesitant to spend. Keith explains how Branta’s zero‑knowledge approach gives wallets a clear green‑light “yes” signal (think: the merchant’s logo you trust) without exposing addresses or payment data, so payments feel as reliable as they should. We also zoom out to the bigger picture: why Bitcoin must deliver both store‑of‑value and medium‑of‑exchange excellence, how better UX (Lightning, ecash, and smarter confirmations) invites everyday spending, and why the “integrity layer” of payments matters for builders, merchants, and users alike. We close by looking ahead to community momentum at Bitcoin Ireland and BTC Prague—and imagining a future where sending sats is safe and obvious, even at 2 a.m. after a show with friends.'Branta (pre-payment verification for Bitcoin & Lightning)': https://branta.pro/'Keith Gardner (Founder & CEO, Branta)': https://www.branta.pro/about'River (Bitcoin exchange and wallet)': https://river.com/'Strike (Bitcoin/Lightning payments app)': https://strike.me/'ZEUS (Bitcoin Lightning wallet)': https://zeusln.com/'Lightning Network (overview and resources)': https://lightning.network/'Zero‑knowledge proof (primer)': https://en.wikipedia.org/wiki/Zero-knowledge_proof'Ecash on Bitcoin (Bitcoin Design Guide)': https://bitcoin.design/guide/how-it-works/ecash/introduction/'Bitcoin Ireland Conference 2026 (Dublin, May 22–25, 2026)': https://bitcoinireland.eu/'BTC Prague 2026 (June 11–13, 2026)': https://btcprague.com/
Transcribe →Thank God For Discourse w/ Jordan Bush
4w ago01:40:21Tap to summarizeI sit down with Jordan Bush to trace an unlikely arc—from a chance connection at PubKey’s Danish Christmas lunch to a candid deep-dive on faith, Bitcoin, and personal transformation. We swap stories from Nashville beefsteaks and Austin meetups, then get honest about career upheaval, trusting God without a safety net, and how money metaphors run through Scripture. We explore “Thank God for Bitcoin,” why monetary language helps illuminate spiritual realities, and what it means to pursue wisdom, humility, and trust when life (and markets) get hard.We also wade into today’s spicy governance debates—Core vs. Knots/OCEAN, inscriptions, and when moral language clarifies or derails the conversation. Jordan argues for stewarding limits over playing god; I push back on moralizing Bitcoin itself. Together we land on a tension worth keeping: passionate yet dispassionate inquiry, accepting Bitcoin’s constraints while growing as people. Along the way: a daughter’s profound spiritual moment, the Adirondacks’ quiet gifts, and a shared conviction that some hard roads are the ones that form us most. 'Thank God For Bitcoin' (organization): https://tgfb.com/about'Thank God For Bitcoin' (book): https://store.tgfb.com/products/thank-god-for-bitcoin-the-creation-corruption-and-redemption-of-moneyThank God For Bitcoin Podcasts: https://tgfb.com/podcastsPubKey (NYC Bitcoin bar): https://www.pubkey.bar/Bitcoin Policy Institute: https://www.btcpolicy.org/researchEric Cason’s 'Crypto Sovereignty': https://cryptosovereignty.org/TABConf (Technical Bitcoin Conference): https://8.tabconf.com/venue/OCEAN (Bitcoin mining pool): https://ocean.xyz/Bitcoin Knots (full node implementation): https://bitcoinknots.org/Rock Paper Bitcoin (podcast): https://rockpaperbitcoin.fm/The Bitcoin Conference (BTC Inc): https://b.tc/conferenceHal Finney (Bitcoin pioneer): https://en.wikipedia.org/wiki/Hal_Finney_(computer_scientist)Peter Todd (developer; official site): https://petertodd.orgBitcoin Magazine (background/reference): https://en.wikipedia.org/wiki/Bitcoin_Magazine
Transcribe →Digital Credit's Fixable Fatal Flaw
Apr 2200:24:05Tap to summarizehttp://www.magicinternetmath.comhttps://zeuspay.com/btc-for-institutionsX: @Fundamentals21mIn this long-overdue episode, I take a hard, first-principles look at so‑called “digital credit” — issuing liabilities against Bitcoin — with MicroStrategy/Strategy’s preferreds as the prime case study. I lay out what works (clear dividends, accrual features, and board accountability mechanisms) and what doesn’t, and why a headline B– credit rating means little if the core asset backing the structure can’t be independently validated. I also explain why fast‑and‑loose wording on earnings calls invites avoidable SEC scrutiny and fuels both low‑signal attacks and low‑signal cheerleading. From my 30 years in risk, I contrast traditional asset verification with today’s crypto accounting realities: FASB’s standard still doesn’t require proof of key control or move‑ability of coins. I argue that large holders should implement auditor‑observable proofs of ownership and custody transparency before scaling digital‑credit products — and I outline the minimum bar I’d require to consider this a durable asset class rather than a black box with latent, systemic risk.'Strategy (formerly MicroStrategy)': https://www.strategy.com/'FASB ASU 2023‑08: Accounting for and Disclosure of Crypto Assets (Official PDF)': https://storage.fasb.org/ASU%202023-08.pdf
Transcribe →HODL'ing Up w/ Scott Lindberg
Apr 1701:16:54Tap to summarizeTwitter: @scottlindberg93 LinkedIn: https://www.linkedin.com/in/stlindberg/Nostr: npub19jkuyl0wgrj8kccqzh2vnseeql9v98ptrx407ca9qjsrr4x5j9tsnxx0q6 Free Market Kids info:Site: https://www.freemarketkids.comTwitter: @freemarketkidsDiscount code "FUNDAMENTALS" for 10% apparel and games on our Free Market Kids' website is good through end of the month.Free Market Kids — Money Literacy Games & CoursesFun, family board games and courses that teach kids money literacy, Bitcoin, and free-market principles. Shop games or enroll in our MONEY course today.www.freemarketkids.comI open with a mea culpa about mislabeling my “first-ever guest,” set the record straight for Seth from Zapdot Coffee, and then welcome Scott Lindberg—best known as the “HODL Up” guy. We dig into why analog games and in‑person meetups matter in a screen‑saturated, AI‑mediated world, and how Scott designs first‑principles games that teach by doing. He shares the iteration behind HODL Up’s hot/cold storage mechanic, replayability without a dominant strategy, and the low‑time‑preference collector’s editions he builds each halving. We get into the gritty realities of manufacturing physical games, sourcing parts, and the opportunity cost in sats. From there we workshop new ideas: Scott’s upcoming fiat game “Fed Up,” his Lightning game “Channel Up,” and my UNO‑style modular arithmetic concept for kids. Scott offers practical prototyping and playtesting tips (including Gen Con’s designer room), thoughts on messaging for parents and homeschoolers, and a reminder that real connection—like we felt at Bitcoin Park’s Grassroots Meetup—can’t be faked by screens. It’s a conversation about learning, craft, and building culture around the table. Scott Lindberg (creator of HODL Up): https://www.hodlupgame.comHODL Up board game: https://www.hodlupgame.com/hodl-upChannel Up (Lightning-themed game) by Scott Lindberg: https://www.hodlupgame.com/channel-upFed Up (fiat-themed game) by Scott Lindberg: https://www.hodlupgame.com/fed-upSHAmory (Bitcoin kids’ game) by Scott & Mallory Sibley: https://www.shamory.comAnomia card game: https://www.anomiapress.comCashflow board games (Robert Kiyosaki): https://www.richdad.com/products/cashflow-board-gameTuttle Twins: https://www.tuttletwins.comGen Con (Indianapolis): https://www.gencon.comBitcoin Park (Grassroots Meetup host): https://www.bitcoinpark.coRock Paper Bitcoin (podcast referenced): https://rockpaperbitcoin.comMission Bitcoin (podcast/community referenced): https://missionbitcoin.org
Transcribe →2 Quants Finding God w/ Avi Burra
Apr 1301:26:20Tap to summarizeFirst-ever guest episode! I’m joined by novelist and Bitcoiner Avi Burra for a soul-to-soul conversation about art, risk, and what Bitcoin does to our lives and relationships. We unpack his fiction 24 and the sequel July 18 without spoilers—touching on grief, double lives, treasure hunts, OP_RETURN breadcrumbs, and a dash of magic realism inspired by hypnotherapy and Rudolf Steiner. Avi shares how leaving a Web3 job, grappling with the blocksize-era culture wars, and rediscovering craft led him from quant/engineer to writer and filmmaker. We talk frankly about “Bitcoin wrecks relationships,” the strain of mission-driven work on marriage, and how meaning, faith, and responsibility keep us moving forward. We also dig into building for builders vs. consumers, why I’m launching Magic Internet Math to raise pleb signal against quantum FUD and other hype, and why Avi is aiming his next book beyond the Bitcoin-maxi echo chamber. Along the way: mentors, product–market fit for culture, generational roles, compassion vs. performance, the power of story (Finding Forrester, Fripp/King Crimson, Phish), and Avi’s Bourdain-esque travel/food series Finding Home. It’s an honest, hopeful, first-principles chat about telling the truth, chiseling away illusion, and trusting the leap when the net isn’t yet visible.'24 — Avi Burra': https://www.casanostra.ink/book'July 18 — Avi Burra': https://www.ryefieldbooks.com/books/july-18/9798989580521'Finding Home — Episode (IndeeHub)': https://indeehub.studio/film/finding-home/season/1/episode/3'Rock Paper Bitcoin — Podcast': https://rockpaperbitcoin.fm/'Magic Internet Math — Project': https://magicinternetmath.com/'Rudolf Steiner Archive': https://rsarchive.org/'Robert Fripp — Biography': https://en.wikipedia.org/wiki/Robert_Fripp'King Crimson — Band': https://en.wikipedia.org/wiki/King_Crimson'Phish — Band': https://en.wikipedia.org/wiki/Phish'Finding Forrester — Film': https://en.wikipedia.org/wiki/Finding_Forrester'Bell Labs': https://en.wikipedia.org/wiki/Bell_Labs'OP_RETURN — Bitcoin Wiki': https://en.bitcoin.it/wiki/OP_RETURN'Atlas Shrugged — Penguin': https://www.penguin.co.uk/books/82962/atlas-shrugged/9780451191144'Dynamic Hedging — Open Library': https://openlibrary.org/books/OL3295027W'Ungovernable Misfits — Podcasts & Articles': https://www.ungovernablemisfits.com/'Avi Burra — Nostr Profile': https://nostr.com/npub1hqaz3dlyuhfqhktqchawke39l92jj9nt30dsgh2zvd9z7dv3j3gqpkt56s
Transcribe →Cooking with Zaps: Nostr Talk w/ Seth
Mar 2801:06:08Tap to summarizeIn this episode, I sit down with Seth, the builder behind Zap Cooking, to unpack how a simple idea—sharing recipes on Nostr—grew into a full-stack, food-first social experience with zaps, a built-in self-custody wallet, social feeds, AI cooking tools, and a peer‑to‑peer marketplace. We trace the project’s roots from early “Nostr Cooking” experiments to today’s Zap Cooking at zap.cooking, talk through why value-for-value matters, and how Bitcoin-native payments are changing what it means to “like” something online. We also explore onboarding and UX lessons from the wider Nostr ecosystem, wallet and zap UX (NIP‑57), and the realities of funding community projects without getting captured by ads or platforms. Along the way we touch on Primal, Damus, Alby, Breez SDK, and more; the role of meetups like Bitcoin Park; and why building sustainable businesses—memberships, marketplaces, and real products—matters if we want this new internet to last.'Zap Cooking': https://zap.cooking'NIP-57 (Zaps)': https://github.com/nostr-protocol/nips/blob/master/57.md'Damus (Nostr iOS client)': https://damus.io'Primal (Nostr client)': https://primal.net'Alby (Lightning wallet/extension)': https://getalby.com'Breez SDK': https://breez.technology/sdk/'GratefulDay (gratitude app by Seth)': https://gratefulday.space'SoberKey': https://soberkey.org'Magic Internet Math (host’s project)': https://magicinternetmath.com'Edward Bernays (background reading)': https://en.wikipedia.org/wiki/Edward_Bernays
Transcribe →Necessary but Not Sufficient: Bitcoin, Math, and Self‑Determination
Mar 1900:19:19Tap to summarizehttps://www.magicinternetmath.comIn this solo episode, I press on an uncomfortable but important gap in Bitcoin’s “don’t trust, verify” culture: the moment you actually buy. We obsess over self-custody, nodes, air‑gapped cold storage, Tor, and Lightning—but almost nobody verifies the asset at point of purchase. I explore why that blind spot exists, how escrow and multisig workflows could mitigate it, and why numeracy and disciplined validation belong at the foundation of your sovereignty stack.From there, I zoom out to the larger mission: building stronger, more self‑determined humans. For me, Bitcoin is necessary but not sufficient—habits, math study, and daily reps of personal responsibility are the other legs of the stool. I share why I believe steady practice (even ten minutes a day) in mathematics fortifies judgment, reduces your threat surface, and helps you become the kind of person who can truly benefit from holding Bitcoin over the long run.'Bitcoin (official site)': https://bitcoin.org'Bitcoin Core (run your own node)': https://bitcoincore.org'Lightning Network': https://lightning.network'Tor Project (for running services over Tor)': https://www.torproject.org'River (exchange/brokerage)': https://river.com'Strike (payments app)': https://strike.me'Hodl Hodl (peer‑to‑peer Bitcoin trading with multisig escrow)': https://hodlhodl.com'Cold Storage (concept overview)': https://en.bitcoin.it/wiki/Cold_storage
Transcribe →