THE Bitcoin Podcast – DO THE F***ING MATH | BITCOIN AFTER DARK EP 1 (BAD001)

Host: Walker America
Guest: Nathan (from BTC Sessions)
Date: December 6, 2025

Episode Overview

This spirited "Bitcoin After Dark" episode, originally a late-night live stream, captures Walker America's bullish perspective on Bitcoin during a period of pessimistic market sentiment. Joined by Nathan, the discussion unpacks why bearish moods don't match historic levels of positive Bitcoin news, offers advice for newcomers and seasoned plebs alike, highlights community and cultural aspects of Bitcoin, and laments fiat system woes—all with plenty of humor and the occasional tangent. The core message: opportunity is knocking for stackers who do the math.

Key Discussion Points & Insights

1. Sentiment Mismatch & Bullish Opportunity

• Walker kicks off with the core thesis:

  • Despite bearish vibes, he’s never been more bullish. The mood across Bitcoin Twitter and crypto spaces is negative, but the fundamentals and adoption news are historically strong.
  • Quote:
    “That mismatch between the insanely bullish feeling I have based on all the incredible stuff that's happening and the contrastingly bearish price action...screams, like, opportunity. This is when you need to be stacking as hard as you possibly can...” (00:19)

• Price context

  • Hovering near $96,000 (Walker’s "fiat cuck bucks")—not a crash (“rounding error away from 100k”), and globally significant, especially in weaker currencies (03:06; 107:33).

2. Facing Dips with “Bitcoin Zen” (05:00)

• Walker embraces dips thanks to DCA strategy:
  • “[T]he longer that I have been just DCAing into bitcoin, the less of any sort of worry I feel. Anytime bitcoin dips...My infinitely printable US dollars are going to go farther now. I’m going to get more bitcoin...” (05:00)
• A previous podcast with Nico from Simply Bitcoin introduced the idea of “Bitcoin Zen”: seeing dips as gifts, not threats.

3. Bullish Developments Ignored by Market

• Historic news overlooked amid poor sentiment (06:06–06:52):
  • Square enabling over 4 million merchants to accept BTC—using “bitcoin rails” for both BTC and USD payments.
  • Cash App integrating more bitcoin features.
  • Even the Czech central bank experimenting with bitcoin holdings.
• “If this was 2020, people would be losing their minds over this news...now it’s just shrugged off.” (69:04)

4. Critique of Shitcoiners & Investment Philosophy

• Contrast between DCA bitcoiners and altcoin traders (“shitcoiners”)
  • Many market bears are “crypto people” who are underexposed to Bitcoin and overexposed to altcoins (08:23).
  • Host laments his own mistakes with buying litecoin, empathizes with newcomers and those misled by the idea they need a whole BTC.
  • “...what else do you need besides bitcoin when it comes...for the average person from an investment standpoint? You really, you really just don't need anything else...” (09:12)
  • Memorable quote:
    “We have this incredible tool and some of you are out there being degenerates with shitcoins.” (10:00)

5. The “HODL” Meme and Trader Psychology (20:05–25:12)

• Walker does a dramatic reading of the “I AM HODLING” post (21:16)—highlighting how most people can’t outperform Bitcoin by trading, so stacking and holding is the sanest path.
• “If you're not beating Bitcoin by a ridiculous margin, there's very much no point.” (23:49)

6. Dollar Cost Averaging (DCA) & Plebs’ Peace of Mind

• Both hosts praise DCA for peace of mind, especially during drawdowns.
• Advice:
  “You should look at this as a beautiful opportunity to stack more corn...you should not be viewing it as like, oh, this is the fucking end of the world.” (26:45)

7. Cultural Vibes, Community, and Meeting Other Bitcoiners

• Nathan joins the stream (31:14), shares his own experience feeling less excited about the “2025 class”—but highlights how meeting Bitcoiners in person or through podcasts brings lasting excitement.
• “The reason that I'm so unbelievably bullish is the people that I get to talk to in this space.” (92:08)
• Advice: Go to meetups, conferences, or start a Bitcoin podcast—community is bullish, even if price isn’t (93:28).

8. Four-Year Cycles: Dead or Evolving? (40:42–49:38)

• Hosts debate whether the “four-year cycle” holds up as more institutions and OG whales shape price action instead of predictable halving-related movements.
• Nathan: “I think actually one of the most bullish things...is the death of the four year cycle narrative...For it to get exciting again, it has to be adventurous.” (40:42)
• Discussion on how much halving cycles are psychological vs. fundamental, and whether new halving events will have diminishing effect.

9. Macro Commentary: Fiat System Critique and AI’s Impact

• Fiat’s “biggest con”: Forcing everyone to be investors just to tread water due to constant currency debasement (28:23).
• AI is supremely deflationary—further dooming inflationary fiat and positioning Bitcoin as the only sustainable monetary standard in an increasingly efficient world (76:12).

10. Philosophy of Wealth, Time Preference, and the Long Game

• Bitcoiners are positioning themselves not just for financial gain, but for greater freedom and meaning: “If you are thinking in that timescale, you need to look at this as a generational opportunity.” (107:51)
• Stacking Bitcoin now is about optionality and legacy, not just getting rich.

Notable Quotes & Memorable Moments

• “If it is obvious to you right now…and you’re looking at this like, how the hell could you be bearish… Then you’re in the minority. Congratulations, you’re awake right now.”
  —Walker (00:56)

• On altcoins:
  “Maybe you just shouldn’t be trading shitcoins. Call it crazy, you could just have been stacking bitcoin and not been a fucking degenerate.”
  —Walker (08:30)

• HODLing wisdom:
  “I'm a bad trader. And so are you, most likely. I'm sorry if that hurts.”
  —Walker (25:03)

• On the stacking environment:
  “When my infinitely printable fiat cuck bucks buy me a little bit more bitcoin. That's like…a good day for me.”
  —Walker (19:59)

• DCA and vibes:
  “You just set a DCA…and fucking live your life.”
  —Walker (28:23)

• Community empowerment:
  “If you're feeling bearish right now, start a bitcoin podcast, start talking to more bitcoiners. Go to your local meetup...”
  —Walker (95:29)

• Adoption Curve Realism:
  “We've never had anything like bitcoin...How much hubris do we have to have to assume that we can figure out exactly what this is going to look like?”
  —Walker (64:53)

• On optionality:
  “You don’t need to have billions for Bitcoin to be fuck you money. Bitcoin just is fuck you money…your optionality only increases.”
  —Walker (104:43)

• Legacy focus:
  “We are going to be the capital allocators of the new world order…What are you going to do?”
  —Walker (106:30)

Timestamps for Essential Segments

| Timestamp | Topic / Quote | |----------------|-----------------------------------------------------------------------------------------------| | 00:00–01:35 | Opening monologue: Sentiment mismatch and bullish opportunity | | 05:00 | Finding “Bitcoin Zen”: DCA takes the fear out of dips | | 06:06–06:52 | Bullish news: Square, Cash App, Czech central bank | | 08:23–13:05 | Crypto bear sentiment explained: Shitcoiners, psychology, empathy for noobs | | 20:05–25:12 | The “I AM HODLING” meme and why traders (probably) lose to Bitcoin | | 26:45–28:23 | Advice on seeing dips as chances to stack and focusing on DCA | | 31:14 | Nathan joins — discussion of Bitcoin culture, podcasting, and bear market community | | 40:42–49:38 | Four-year cycle: fading relevance, institutional impact, psychological echoes | | 64:53–66:18 | Adoption curve and humility: Why no one can predict Bitcoin’s path | | 76:12–81:26 | AI’s deflationary impact, the death of debt-based money, freeing capital for real innovation | | 92:08–93:28 | In-person connections, meetups, and how Bitcoiners inspire each other | | 104:43–106:34 | Optionality, economic freedom, and what Bitcoiners will do as “capital allocators” | | 107:51–109:26 | Big picture: Stacking for generations, high time preference, taking the opportunity now |

Tone and Style

• Language: Candid, irreverent, and humorous with frequent tangents and sidebars
• Energy: Casual, late-night confessional vibe; passionate and occasionally explicit
• Community-first: The message is not just about wealth, but about building a better future, freedom, and sharing the journey

Final Takeaways & Calls to Action

• This "boring," bearish-feeling market is a time of immense opportunity for those who understand Bitcoin’s fundamentals and long-term game theory.
• Don’t get distracted by price or market noise—keep stacking, especially when sentiment is low.
• Community is everything: podcasts, meetups, and connecting with other Bitcoiners will keep your spirits and conviction high.
• “Do the fucking math”—Bitcoin is finite, fiat is infinite. Stacking now is generationally impactful.

Closing Quotes

“You have an opportunity right now, but it's up to you to take it. Nobody can...the orange pill must be taken willingly...most people are still asleep. But that's your opportunity. Take it.”
—Walker (107:51)

“If you're stacking sats right now, you will get to have the life that you want. So what do you want? What do you want to do? Where are you going to contribute what's meaningful and important to you?”
—Nathan (109:26)

Stay bullish. Start a Bitcoin podcast. Meet other Bitcoiners. Raise your family. Subvert the state. And have a great night. (111:17)

Episode link, guest information, and further resources: See show notes at Bitcoin Podcast