TFTC: A Bitcoin Podcast
Episode #595: "Bitcoin Is An Unstoppable Beast" with George Bodine (Jethro)
Host: Marty Bent
Guest: George "Jethro" Bodine
Date: March 10, 2025
Overview
In this wide-ranging and deeply personal episode, Marty Bent sits down with George Bodine, known as Jethro, a passionate Bitcoiner with a unique background in aviation, military service, finance, and the arts. The conversation weaves through George’s personal journey into Bitcoin, macroeconomic chaos, the philosophy behind generational wealth, and the unstoppable, “living” nature of Bitcoin itself. They explore the current state of global finance, the parallels between Bitcoin and viral network effects, strategic national reserves, and the importance of humility—and conviction—in staking one's future to Bitcoin.
Key Discussion Points & Insights
1. The State of Chaos and Zen in a Volatile World
- Theme: The episode opens with an acknowledgment of the chaotic global financial environment—ballooning central bank interventions, fiat devaluation, and worldwide uncertainty.
- “Central bankers are tripping over themselves to devalue their currency, Bitcoin wins. In the world of fiat currencies, Bitcoin is the victor.” — Jethro (00:20)
- Both host and guest tie their pursuit of Bitcoin to a search for peace amidst this “bumbling” global condition.
2. George’s Unconventional Path to Bitcoin
- Background: Jethro recounts a meandering educational and professional path—dropping out of school, returning, military aviation, an airline career, and a relentless autodidactic study of Bitcoin (“over 3,000 hours”).
- “I follow really smart people and I read like a son of a bitch... I'm plugged in to study. I must be north of... I bet I'm approaching 3,000 hours right now.” — Jethro (01:42)
- ‘Aha’ Moment: Multiple exposures to Bitcoin before conviction (2012, 2017); only post-2020—sparked by Lyn Alden’s writing—did he “fall down the rabbit hole,” initially selling during volatility, then realizing, “I didn’t know what I held,” and subsequently going “all in.”
3. The Bitcoiner’s Journey: Conviction, Crisis, Resilience
- The Hero’s Journey: Marty frames the Bitcoiner’s rollercoaster as the hero's journey—buying, experiencing losses, self-doubt, sleepless nights, returning to first principles, and renewed conviction.
- “You buy some, then you buy some more, you buy some more, you buy... and then next thing you know, you’re buying on the way up, then you're buying on the way down.” — Jethro (07:40)
- “I lost confidence ... I was down on paper like 50-60%. ... I kept finding myself... staring at the ceiling and in bed going, man, this—I don't know about this. ... You know what I did, Marty? I bought like a drunken sailor.” — Jethro (09:13)
- Message for Newcomers: The persistent “I’m late” feeling; the need to zoom out and recognize Bitcoin is early and accessible, despite headline prices.
4. Bitcoin as Generational Wealth and Compound Interest
- Compound Growth: Jethro emphasizes Bitcoin’s staggering historical CAGR (compound annual growth rate) and its potential as the foundation for generational wealth. He urges younger listeners to “reverse calculator” bitcoin’s potential.
- “Bitcoin's got the greatest compound interest or return of any asset out there. Nothing compares to it, okay? So you've made it, you got it...” — Jethro (31:09)
- Creating a Dynasty: Invokes historical wealth dynasties (Rothschilds, Rockefellers) and encourages millennials to think centuries, not years.
- “As a bitcoiner, you have the asset to do it. You got it, it's yours. All you have to do is hold on to the damn thing. And eventually, you will get to a point ... you'll never have to sell a sat.” — Jethro (34:30)
- Notable Quote: “If you're younger than 45 and you're stacking bitcoin, you've got it made, man. If you ever looked at compound interest, the eighth wonder of the world, and really did some research into it, it would just water your eyes.” — Jethro (27:40)
5. Fiat Failures & Historical Parallels
- Weimar Republic & Hyperinflation: Both reflect on meme coin “hysteria” and compare it to Weimar’s financial madness.
- “We're in that hysteria stage. ... In the Weimar Republic, it was four marks to the dollar, ... ten years later, it was like 600 billion or something.” — Jethro (19:41)
- Life Under Inflation: Jethro uses personal anecdotes from the 1970s/80s oil crisis—lines for gas, paychecks vanishing to inflation—showing how debasement erodes savings and dignity.
6. Monetary Sovereignty for the Working Stiff
- Front Running Institutions: Jethro exalts Bitcoin as a way for “plebs” and “working stiffs” to front-run slow-moving, conservative institutions and sovereign funds.
- “I am front running these bastards. ... They're putting in the tiniest percent. ... We still have an opportunity to front run these people.” — Jethro (27:40)
- End of Fiat Rug Pulls: Expresses peace and confidence in life, unfazed by Fed meetings: “Once you understand bitcoin, it’s like the royal flush. You just push your chips in.” (06:55)
Notable Quotes & Memorable Moments
| Timestamp | Speaker | Quote | |-----------|--------------|-----------------------------------------------------------------------------------------| | 01:42 | Jethro | “I just am. I'm plugged in to study. ... The rabbit hole, it really doesn't end. ... You never get out of the rabbit hole.” | | 09:13 | Jethro | “I lost confidence... I was down on paper like 50-60%. ... And you know what I did, Marty? I bought like a drunken sailor.” | | 14:57 | Marty | “Is bitcoin perceived as this risk off, flight to safety asset this cycle? ... I could certainly see it materializing, but I could also see general turmoil in global markets suppress the price for a little bit.” | | 19:41 | Jethro | “We're in that hysteria stage. ... In the Weimar Republic, it was four marks to the dollar, ... ten years later, it was like 600 billion.” | | 27:40 | Jethro | “I am front running these bastards... They're with us. ... But it's so small that we still have an opportunity to front run these people.” | | 31:09 | Jethro | "Oh, my God, you guys, you're going to have the greatest life. I mean, you just can't imagine what's coming. ... As a bitcoiner you have the asset to do it. You got it, it's yours. All you have to do is hold on to the damn thing." | | 46:44 | Marty | "Ralph Merkle... said this a while ago... basically identifying bitcoin as this living organism... it finds a way to contract humans out, to plug machines in, to expend energy, to make sure that it has the ability to assist and continue moving on and growing." | | 54:25 | Jethro | “Just like a beast, bitcoin will fight you if you try to circumnavigate it. Look at the difficulty adjustment. It's like a living thing.” | | 69:07 | Jethro | "We are in a race. I mean, we may not acknowledge it. And when I say crossing the Rubicon, I mean there's no going back." | | 83:51 | Jethro | "Bitcoin is permissionless. It's for our enemies. ... Opinions are like, you know, assholes. Everybody’s got one and I’ve got mine. And ... at least I'm willing to admit I'm often wrong and I have to come back." | | 87:03 | Jethro | “You're not sure how the cycle is going to go, but ... do you think there's a tipping point ... a God candle where people wake up in a hurried rush into bitcoin and it changes the dynamics of the market drastically...?" |
Deep Dives & Intellectual Detours
A. Bitcoin, Power Laws, Viruses, and Living Networks (44:50–54:56)
- Ralph Merkle & Network Effects: Both discuss the idea, traced back to Merkle’s analogy, of Bitcoin as a living organism or viral network, selecting the Internet as its perfect host.
- "Bitcoin and viruses, three things, they have something in common and it’s a network effect... bitcoin almost exhibits those. It co shares that with virus like behavior.” — Jethro (48:06)
- Difficulty Adjustment as 'Immune System':
- Marty: “It's almost like an immune response... going to make it harder to find this bounty...” (54:56)
- Bitcoin as an “Apex Predator”:
- Jethro likens Bitcoin to an unstoppable apex predator, with characteristics of persistence, adaptability, and arcane power.
B. Policy, Stablecoins, and Strategic Bitcoin Reserves (65:03–78:06)
- Nation-State Acquisition: Jethro advocates for US adoption of a strategic bitcoin reserve, echoing moves by other countries.
- “Why do we have gold in reserves? ... Bitcoin runs circles around gold. ... So why wouldn't we have bitcoin as a strategic reserve?” — Jethro (65:03)
- Tether vs. USDC: A tactical, high-stakes battle—Tether’s “pirate” ethos vs. Circle's compliance; implications for Lightning and financial rails for the developing world.
- Marty: “Circle... pencil pusher. Suck up to the nanny state, Jeremy Allaire. Like, let’s regulate everything and I’ll do whatever you want. Daddy government.” (77:12)
- Jethro: “If there's any Bitcoiner out there that can tell me how you're going to stop Tether from doing what it wants to do, like on the Lightning Network over the next year or two, you tell me how you're going to do it...” (80:30)
- Permissionless Innovation: Agreement that Lightning and Taproot Assets are ultimately opt-in and open, and that the fight over stablecoins is critical but cannot stop Bitcoin’s trajectory.
Listener Wisdom & Takeaways
- Have Conviction, Put in the Work: Stacking, learning, and holding amid volatility is the Bitcoiner’s code.
- “Get bitcoin stacked like a smart psychopath. Hold onto the bitcoin, whatever it takes, and then you can't lose the damn thing.” — Jethro (24:32)
- Adopt Humility: Both reflect on past mistakes, the limitations of modeling, and the necessity of being humble, especially given traumatic life experiences.
Selected Timestamps & Segments
- George’s Bitcoin Origin Story: 01:42–06:55
- "Aha" Moment, Crisis, and Conviction: 07:40–10:56
- Generational Wealth and Compound Interest: 30:07–38:25
- Historical Hyperinflation & Life Lessons: 19:41–22:55
- The Living Nature of Bitcoin: 44:50–54:56
- Strategic Bitcoin Reserve & Stablecoins Battle: 65:00–78:06
- Permissionless Innovation & Lightning: 80:30–83:51
- Perspectives on Humility, Models & The Future: 85:06–93:42
- Final Reflections, Call to Action: 93:53–94:50
Tone & Style Notes
The dialogue is frank, irreverent, humorous, and occasionally salty, with a deep undercurrent of hard-won wisdom and conviction. Jethro is both a storyteller and provocateur, urging listeners to “pull your head out of your ass,” stack bitcoin, and build a dynasty—while appreciating the need for humility and openness to being wrong.
Final Thoughts
This episode is a robust call to action for both new and longtime bitcoiners: The world is uncertain, but Bitcoin's design—resilient, permissionless, unstoppable—offers an off-ramp from the madness. Stack, learn, hold, educate the next generation, and prepare to write your own chapter in monetary history.
Want to find Jethro?
X (Twitter): @Jethroe111
“Prepare, freaks. Bitcoin is maybe the only certain thing that we have in this world in these uncertain times.” — Marty (93:42)