They’re Not Saving the Republic, They’re Building Fortress North America | Brent Johnson

Mentor Sessions Ep 098: Jack Mallers explains monetizing chaos, dollar debasement, the ColdCard incident, El Salvador and why Bitcoin is the most American technology.Jack Mallers argues the entire fiat system forces everyone into speculation whether they know it or not — and Bitcoin is how you take the other side of the chaos. In a wide-ranging sit-down, the Strike CEO breaks down monetizing chaos, the $40 trillion debt bill nobody wants to foot, and why he's never been more bullish.You'll hear why Jack calls debt a form of "time travel" that already spent your future, how the dollar's world-reserve status structurally forces deficits, and why a severe debasement against gold and Bitcoin may be the only mathematical exit for the US balance sheet. You'll get his blunt read on the ColdCard incident and why "open source doesn't mean secure" in the age of AI — the most incentivized person to understand that code base was the attacker. You'll also learn why he thinks 2026 was never a real bull run, why prediction markets are just regulatory arbitrage on sports betting, and what El Salvador got right (and wrong) five years in.⏱️ Timestamps:0:00 - Intro0:48 - Why Jack Is Bullish on Bitcoin1:47 - Monetizing Chaos by Shorting Fiat2:04 - Debt as Time Travel and Future Bills4:43 - Why Public Adoption of Bitcoin Lags5:17 - Strike Growing Despite Bear Market6:21 - Why 2026 Was Not a Real Bull Run7:52 - Why Younger Generations Resist Bitcoin8:44 - Bitcoin as a Massive Wealth Transfer11:26 - Savings Culture Versus Gambling Culture13:07 - Gambling Ads, OnlyFans, and Robot Jobs17:58 - Hunger for Savings Culture Emerging18:10 - Family, Low Time Preference, and Bitcoin21:43 - Robinhood, Meme Coins, and Marginal Speculators24:23 - Prediction Markets as Sports Betting Arbitrage26:52 - Why Self-Custody Efforts Often Fail28:27 - El Salvador Bitcoin Adoption Wins and Losses34:07 - Why Nations Avoid Copying El Salvador38:06 - Bitcoin as America's Most American Tech40:17 - Dollar's Structural Deficit Trap Explained41:12 - China's Gold and Bitcoin Dollar Debasement45:49 - Why Jack Glad Clarity Act Failed47:53 - Fix: End World Reserve Currency Status49:18 - Bitcoin Not Medium of Exchange First55:20 - AI Threat to Open Source Security57:33 - Open Source Alone Does Not Secure1:02:09 - Just Use Bitcoin Core for Security1:08:37 - Jack on Leaving Twenty One and Authenticity1:14:47 - What Strike Is Building Now1:20:04 - Closing Message to BitcoinersGuest: Jack Mallers of Strike🔗 Links & Resources:- Jack Mallers on X: https://x.com/jackmallers- Strike: https://strike.me⚡Previous Episode:Zack Shapiro: https://youtu.be/iZ7e0hY0WL8🔔 Subscribe for weekly Bitcoin Podcasts🐦 Follow on X: https://x.com/BTCSessions🐦 Follow on X: https://x.com/theBTCmentor⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1⚡ Sponsored by Trezor - Get Your Safe 7 Today: https://affil.trezor.io/aff_c?offer_id=352&aff_id=1088⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB⚡ Sponsored by BITCOIN WELL: Best Place to BUY & SELL BITCOINhttps://qrco.de/bfiDC6💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io If this conversation gave you a new way to see the macro picture, join the regulars — subscribe for more long-form Bitcoin interviews and reply with your take on "monetizing chaos." Catch the previous episode with James Lavish and Doomberg linked in the cards.#JackMallers #Bitcoin #BTCSessions #Strike #BTC #BitcoinMacro #DollarDebasement #MonetizingChaos #SoundMoney #BitcoinBearMarket #WorldReserveCurrency #PredictionMarkets #ElSalvadorBitcoin #Coldcard #OpenSourceSecurity #BitcoinCore #LightningNetwork #SelfCustody #TwentyOne

Mentor Sessions Ep 097: James Lavish and Doomberg break down the 2026 bond market crisis, Europe's diesel shortage, private credit risk, and Bitcoin as a macro asset.Bond yields near 20-year highs, Europe staring down a diesel shortage, and private credit quietly marking its own books — the plumbing of the global financial system is under real strain, and this conversation maps exactly where the pressure is building.James Lavish and Doomberg join BTC Sessions to connect the dots between the bond market, energy, geopolitics, and Bitcoin. You'll learn why the 10-year yield sitting at ~5% signals a structural regime change rather than a passing inflation scare, how private equity and insurance companies are stuffed with self-marked paper that echoes 2007-2008, and why Doomberg calls Europe's diesel situation the "Four Horsemen of the Diesel Apocalypse." You'll see the case that energy — not currency — is the base layer of every market, why nations are now selling Treasuries to buy fuel, and where Bitcoin fits as the "hot ball of money" hunting for the next asymmetric bet. Both guests also share the disciplined, rules-based approach they use to allocate across gold, cash, and Bitcoin without trying to time the market.⏱️ Timestamps:0:00 - Intro0:43 - Bond yields near 20-year highs and global yield melt-up0:57 - Why the 10-year at 5% is a new regime, not a blip3:28 - The death of the 60/40 portfolio5:38 - Doomberg on Grant Williams, Luke Gromen and fiscal dominance9:03 - Hyperscaler debt crowding out long-dated paper10:16 - Echoes of 2007-2008 in private equity and insurance12:19 - The Treasury default nobody will call a default16:38 - How private credit marks its own book20:16 - Every market has its own purpose and structure25:26 - Trezor Safe 7 self-custody segment29:55 - Money is a promissory note on energy30:16 - Private credit, contagion and the mark-to-market catalyst33:16 - Could real estate seize up the credit chain?37:01 - Diesel, WTI and the Four Horsemen of the Diesel Apocalypse42:43 - Why Europe is uniquely exposed44:08 - Germany's nuclear mistake and the EU's fragility47:47 - Why Germany may leave the EU49:04 - Ukraine, Russia and the energy war51:38 - Why bonds aren't seeing a flight to safety53:23 - Bitcoin as the asset chucked overboard, now bid57:03 - Doomberg's rules-based gold, cash and Bitcoin allocation59:40 - Canada, Greenland, Carney and Trump theater1:05:44 - Where to follow James Lavish🔗 Links & Resources:• James Lavish on X: https://x.com/jameslavish• The Informationist newsletter:https://www.jameslavish.com/• Doomberg on Substack: https://newsletter.doomberg.com/⚡Previous Episode:Zack Shapiro: https://youtu.be/iZ7e0hY0WL8🔔 Subscribe for weekly Bitcoin Podcasts🐦 Follow on X: https://x.com/BTCSessions🐦 Follow on X: https://x.com/theBTCmentor⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1⚡ Sponsored by Trezor - Get Your Safe 7 Today: https://affil.trezor.io/aff_c?offer_id=352&aff_id=1088⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB⚡ Sponsored by BITCOIN WELL: Best Place to BUY & SELL BITCOINhttps://qrco.de/bfiDC6💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io #Bitcoin #BTC #BTCSessions #JamesLavish #Doomberg #BondMarket #FiscalDominance #EnergyCrisis #PrivateCredit #DieselShortage #SoundMoney #InterestRates #Treasuries #MoneyPrinting #Europe

Mentor Sessions Ep 096: Zack Shapiro explains AI existential risk, AI regulation, the Clarity Act, Samurai Wallet, and open source AI policy for Bitcoin.The Clarity Act just failed on the Senate floor, and the fight over whether writing Bitcoin code can be treated as a crime is now heading to 70-year-old federal judges. Zack Shapiro breaks down what that means for self-custody, open source software, and the Samurai Wallet developers still behind bars.In this conversation you'll learn why Zack separates AI existential risk (recursive self-improvement, the orthogonality thesis, instrumental convergence) from the ordinary risks of AI — job displacement, regulatory capture by frontier labs, and cyber attacks like the Cold Card hack. You'll see why he thinks open source AI is not the existential threat, why the Blockchain Regulatory Certainty Act (BRCA) matters more than most Bitcoiners realize, and how the 'two clocks' of AI capability vs enterprise adoption will define the next decade. You'll also get the legal reality behind white hat recovery of hacked Bitcoin, why the liquid hacker is in a bad spot, and what happened when the Clarity Act died on the vine.⏱️ Timestamps:0:00 - Intro0:51 - Amodei, Musk and Altman urge AI slowdown1:38 - Ordinary risks versus existential AI threats2:26 - Politics warping the AI safety debate3:20 - Bostrom, AGI and intelligence explosion risks5:01 - Orthogonality thesis and instrumental convergence5:59 - Hugging Face attack shows AI covering tracks6:58 - No easy policy fixes for AI risks8:08 - Can't stop AI progress or open source China9:32 - Separating x-risk concerns from anti-AI populism12:22 - Regulatory capture and Anthropic IPO timing14:21 - Keeping open source AI legal and available16:39 - Trezor self-custody sponsor read17:43 - One shot parallel between Bitcoin and AI19:37 - Where real AI productivity gains appear20:47 - Two Clocks: capability versus enterprise adoption24:22 - Is AI coming for your job?25:28 - Electrification analogy and 30-year lag28:34 - Jevons Paradox and future of work30:42 - White hat recovery of Cold Card hacked funds34:02 - Legal precedent for white hat bounties36:56 - Why the Liquid hacker faces trouble38:55 - What's actually in the Clarity Act43:46 - Money transmitter law and the Samurai case45:20 - Tornado Cash, FinCEN and frying pan argument47:31 - Why this could ban using Bitcoin49:33 - BRCA criminal protections and court battles53:42 - Clarity Act fails to pass what happened55:24 - Senator Lummis stood on principle56:50 - Where to follow Zack ShapiroGuest: Zack Shapiro — lawyer and AI-native law firm builder covering crypto policy, AI regulation, and Bitcoin legal defense.🔗 Links & Resources:- Zack Shapiro on X: https://x.com/zackbshapiro⚡Previous Episode:Bob Burnett and Nacho Pauls of Ocean: https://youtu.be/1-lvwj4DcJsBrent Johnson: https://youtu.be/UoIwpsOB9O0🔔 Subscribe for weekly Bitcoin Podcasts🐦 Follow on X: https://x.com/BTCSessions🐦 Follow on X: https://x.com/theBTCmentor⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1⚡ Sponsored by Trezor - Get Your Safe 7 Today: https://affil.trezor.io/aff_c?offer_id=352&aff_id=1088⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB⚡ Sponsored by BITCOIN WELL: Best Place to BUY & SELL BITCOINhttps://qrco.de/bfiDC6💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io #Bitcoin #BTC #BTCSessions #ZackShapiro #ClarityAct #BRCA #SelfCustody #SamuraiWallet #ColdCardHack #AIRegulation #AISafety #OpenSourceAI #Superintelligence #BitcoinPolicy #BlackRock

Mentor Sessions Ep 095: Bob Burnett and Nacho Pauls of Ocean discuss Bitcoin mining decentralization, the BIP-110 chain split, hash rate flight, and Bitcoin Knots.Bitcoin's first real hard fork just tested mining decentralization for real — and Ocean's hash rate dropped from roughly 40 exahash to 23 before clawing back. Bob Burnett (Barefoot Mining, Ocean chairman) and Nacho Pauls break down what actually happened when the chain split, why rented hash fled while owned hash stayed, and what the loss of Bitcoin Knots means for client diversity going forward.You'll learn why the "template centralization" problem is still the core issue even after BIP-110 was resolved, how a non-KYC pool kept paying miners through the chaos, and why Bob argues Bitcoin needs 3 to 5 competing clients — drawing a direct parallel to how the PC industry standardized USB, PCI, and Bluetooth. You'll also get the honest story behind Ocean's high-profile team departures, who's stepping into the CTO and chairman roles, and why Bob calls the whole episode a "distraction" the community ultimately settled the right way.Whether you run a node, stack sats, or care about who really controls Bitcoin's hash, this is a candid, insider conversation about mining, consensus, and what comes next.⏱️ Timestamps:0:00 - Intro0:41 - Hard Fork Fallout and What Happened1:12 - Have Bob's Decentralization Views Shifted?1:54 - Datum Templates and Decentralization Fix3:25 - Ocean Hash Rate Drops From 40 to 23 EH3:43 - Overcoming Defeatism Among Motivated Miners4:11 - Nacho Explains Why Miners Left Then Returned4:57 - Only Pool That Let Miners Choose6:37 - Owned Hash Rate Versus Rented Hash8:34 - True Cost of 15 EH Rented Hash9:38 - Non-KYC Mining and Unknown Customers10:50 - Why Large Miners Avoid Switching to Ocean13:20 - Ocean's Jump to 30 EH and Path to 10017:23 - Sponsor Break18:50 - Team Drama and Key Departures20:17 - Amicable Split With Departing Founders22:01 - Jason Hughes Becomes CTO and Board Changes23:28 - BIP-110 Debate and Your Hash Your Choice33:15 - Bob's Personal Take on Departures34:13 - Mistake of Treating BIP-110 as Crisis38:39 - Community Consensus and Bitcoin's Strength43:57 - Losing Bitcoin Knots Client Option45:53 - Short Medium and Long Term Client Strategy46:48 - Plea to Core on Extended Version Support47:27 - Why Bitcoin Needs Three to Five Clients48:32 - PC Industry Lessons on USB and PCI Standards51:16 - Where to Follow Nacho and BobGuests mentioned: Bob Burnett (Barefoot Mining, Ocean), Nacho Pauls (Ocean), plus discussion of Luke DeWolf, Jason Hughes, and the Bitcoin Boomers.🔗 Links & Resources:• Ocean: https://ocean.xyz• Bob Burnett on X: https://x.com/Boomer_BTC• Nacho Pauls on X: https://x.com/NachoPauls• BTC Sessions: https://btcsessions.ca⚡Previous Episode:Brent Johnson: https://youtu.be/UoIwpsOB9O0🔔 Subscribe for weekly Bitcoin Podcasts🐦 Follow on X: https://x.com/BTCSessions🐦 Follow on X: https://x.com/theBTCmentor⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB⚡ Sponsored by BITCOIN WELL: Best Place to BUY & SELL BITCOINhttps://qrco.de/bfiDC6💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io #Bitcoin #BTC #BTCSessions #BitcoinMining #MiningDecentralization #BIP110 #BitcoinKnots #OceanPool #HashRate #BobBurnett #NachoPauls #HardFork #BarefootMining #ProofOfWork #SelfCustody

Mentor Sessions Ep 094: Brent Johnson explains the 2026 dollar outlook, the collapse of the rules-based order, Bessent's Treasury moves, and how AI and stablecoins entrench the US dollar.The rules-based order that kept markets stable for 80 years is dying - and Brent Johnson explains what replaces it, why the US dollar gets STRONGER not weaker, and how AI and stablecoins entrench American power for decades.Brent Johnson (Santiago Capital, Dollar Milkshake Theory) sits down for a wide-ranging conversation on the biggest structural shift in markets since World War Two. You'll learn why he thinks the American Republic could give way to an American empire, why Scott Bessent's Treasury buybacks matter more than the headlines suggest, and how passive management can turn a bond wobble into a full crisis. You'll see why he's concentrated in North America and the Western Hemisphere, why he calls the US-China relationship a "divorce," and why he refuses to bet against the US Treasury even as others call for the dollar's death. He also breaks down why AI is now a matter of national security, why stablecoins are structurally bullish for the dollar, and where Bitcoin fits in the emerging digital-asset order.⏱️ Timestamps:0:00 - Intro1:17 - Iran War and Dollar System Resilience4:10 - Iran Conflict Pressure on Treasury Yields5:41 - Rising Yields Create Global Collateral Strain8:25 - Bessent Long-End Buybacks Explained10:20 - Mike Green on Passive Bond Risks11:48 - Rules-Based Order Has Ended13:39 - Shift to America First Proactive Policy17:31 - Signs the Rules-Based Order Is Dying18:27 - Vance and Rubio Munich Security Speeches21:41 - China Also Wants Strategic Divorce23:26 - Multipolar World or US Remains Dominant24:44 - American Republic Falls Into Empire27:00 - Republic Versus Empire and Authoritarianism31:07 - Positioning Portfolios Amid Geopolitical Chaos33:28 - Building Fortress North America Strategy35:19 - Canada US Relationship Realities39:41 - Energy Trade War Leverage Analysis44:16 - Bessent Druckenmiller Soros Trading Lineage48:51 - Market Outlook Violently Sideways Year End53:01 - AI Now National Security Priority57:02 - AI Short Term Employment Risks58:06 - Stablecoins Strengthen US Dollar Position59:31 - Bitcoin Role Alongside Stablecoins1:01:57 - Global Institutions Must Adapt NextBrent Johnson's written research and weekly show "Milkshakes, Markets and Madness" are at Santiago Capital - links below.🔗 Links & Resources:• Santiago Capital research: https://research.santiagocapital.com/• Brent Johnson on X: https://x.com/SantiagoAuFund⚡Previous Episode:Luke Gromen & Lyn Alden: https://youtu.be/xoAuuJyBg6E🔔 Subscribe for weekly Bitcoin Podcasts🐦 Follow on X: https://x.com/BTCSessions🐦 Follow on X: https://x.com/theBTCmentor⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB⚡ Sponsored by BITCOIN WELL: Best Place to BUY & SELL BITCOINhttps://qrco.de/bfiDC6💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io #AmericanEmpire #FortressNorthAmerica #FortressAmerica #RulesBasedOrder #BrentJohnson #DollarMilkshake #SantiagoCapital #USDollar #USD #ReserveCurrency #TreasuryMarket #Gold #Bitcoin #DigitalAssets #Stablecoins #Geopolitics #Hegemony #China #MacroEconomics #CapitalFlows #Multipolar #ScottBessent #AINationalSecurity #BTCSessions

Mentor Sessions 093: Luke Gromen and Lyn Alden explain the 2026 global bond market crisis, private credit risk, yield curve control, and Bitcoin and gold as safe havens.The global bond market is bleeding out in slow motion, and the real danger is buried in private credit that insurance companies can't sell without going insolvent. Luke Gromen and Lyn Alden break down why the long end of the Treasury market is grinding higher, why Scott Bessent intervened before any visible crisis, and what happens when trillion-dollar balance sheets finally hit the sell button.You'll learn why China is the one nation conspicuously absent from the sovereign debt rout, how AI-driven deflation is reshaping Chinese manufacturing, and why Gromen argues the U.S. now faces a "Weimar gold reparations" problem with true interest expense at 105% of receipts. You'll see why both guests believe rate hikes are no longer even a usable tool under fiscal dominance, how a Blackrock "one phone call" scenario could freeze $5 trillion in a crisis, and where Bitcoin and gold fit as bearer assets when markets get locked down. Alden makes the case for holding scarce assets and extra cash through the air pockets; Gromen explains why he trimmed Bitcoin and exactly when he'd aggressively buy it back.⏱️ Timestamps:0:00 - Intro1:12 - Treasury Event or Broader Sovereign Debt Crisis1:34 - Why China Avoids the Global Bond Rout2:00 - Hyperscalers Emerge as New Bond Vigilantes3:41 - Path Leading to Yield Curve Control4:15 - Why Chinese 10-Year Yields Hit Global Lows6:00 - AI Driving Deflation in Chinese Manufacturing10:17 - Orderly Bond Market Grind vs Sensationalized Crash13:43 - The Dog That Didn't Bark in Bessent's Move14:38 - Silent Crisis Brewing in Private Credit15:38 - Insurance Insolvency Risk Triggers Treasury Sales19:01 - Liquidity Versus Solvency in Private Funds27:44 - Will Warsh Raise Rates This Cycle29:43 - True Interest Expense Hits 105% of Receipts33:43 - Rate Hikes Fail Against Fiscal Dominance35:50 - Crack Spreads, Diesel and Physical Bottlenecks37:37 - Wall Street Awakening to Fiscal Dominance40:12 - BlackRock's $5 Trillion Lockdown Scenario41:00 - Past the Point of No Return for Markets45:47 - Non-Linear Reset Versus Slow Economic Spiral50:19 - Physical Constraints in Beef and Refineries54:05 - Gormen Adds Back Bitcoin After Selling57:07 - Lyn Alden on Bitcoin and Gold Outlook🔗 Links & Resources:Lyn Alden: https://www.lynalden.com/Luke Gromen: https://fftt-llc.com/⚡Previous Episodes:Michael Sullivan: https://youtu.be/wp5IYzcThUoTom Luongo: https://youtu.be/zkvdfR7LTuU🔔 Subscribe for weekly Bitcoin Podcasts🐦 Follow on X: https://x.com/BTCSessions🐦 Follow on X: https://x.com/theBTCmentor⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB⚡ Sponsored by BITCOIN WELL: Best Place to BUY & SELL BITCOINhttps://qrco.de/bfiDC6⚡ Sponsored by Blockstream Jade: Easy, open-source Bitcoin-only cold storage. Get 10% off with code BTCSESSIONS at store.blockstream.com.💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io #BTCSessions #Bitcoin #BTC #LukeGromen #LynAlden #BondMarket #Treasury #FederalReserve #InterestRates #YieldCurveControl #PrivateCredit #FiscalDominance #SovereignDebt #USDollar #Inflation #Gold #ChinaEconomy #Japan #MacroFinance #MacroEconomics #BitcoinEducation #BitcoinPodcast #BitcoinInterview #GlobalEconomy

Mentor Sessions 092: Michael Sullivan explains Bitcoin sentiment analysis, emotional cohort signals, OG optimism, narrative shifts, and why the data may point to a bottom.Bitcoin sentiment just did something it rarely does after a 22% rip: it stayed calm. No euphoria, no desire spike, no retail flooding back — and that gap between the price move and the emotional data is where the real signal lives.Michael Sullivan — an engineer and fiction writer turned Bitcoin sentiment analyst — breaks down how he tracks 14 distinct emotions across cohorts of Bitcoiners, from OGs and technologists to MSTR treasury speculators. You'll learn why he cohorts the crowd instead of scraping social media, why the Fear & Greed Index misses all the nuance, and why he reads OG optimism as one of the most reliable early signals that positive things are on the horizon. You'll see why 'desire' language sits inversely correlated with price, why the near-total absence of a new narrative can be wildly bullish near a bottom, and how the BIP-110 debate produced algorithmic engagement patterns that looked artificially farmed. He also lays out the AI-bubble-to-Bitcoin thesis and why he's personally bearish by instinct but bullish on the data.⏱️ Timestamps:0:00 - Intro0:38 - Why this rally feels like disbelief1:09 - Massive sentiment phase shift after crash2:01 - Rally lacks expected euphoria levels3:05 - Tracking caring language in ColdCard event3:58 - Technologists impressed most during crisis5:12 - Studying Saylor's four Bitcoin cohorts6:33 - MSTR shareholders as conviction outlier7:18 - OG optimism as reliable bullish signal7:59 - Are OGs turning optimistic now9:56 - Emotions linked to time and excitement11:40 - Downturn negative language uniquely severe12:40 - Desire language at market tops and bottoms16:52 - How language analysis became his focus19:11 - BIP-110 debate through psychology lens21:09 - Algorithmic engagement that felt farmed26:55 - AI bots distorting sentiment data29:47 - Spotting leaders and narrative first movers32:56 - Narratives shaping markets and price34:37 - Absence of narrative as bullish signal36:42 - Does price or emotion move first40:03 - AI deflation versus Bitcoin scarcity thesis40:30 - Euphoria missing at prior all-time high45:17 - Bitcoiners versus treasury company speculators50:07 - Conviction language versus hedging explained54:03 - Denoising sarcasm with cohort analysis59:31 - Signals needed to confirm bearish view1:00:06 - Data pointing bullish over coming months1:02:10 - Where to follow Michael's latest workMichael writes deep analysis on Bitcoin sentiment and shares it on X and Substack — links below.🔗 Links & Resources:https://x.com/SullyMichaelvan⚡Previous Episode - Tom Luongo: https://youtu.be/zkvdfR7LTuU🔔 Subscribe for weekly Bitcoin Podcasts🐦 Follow on X: https://x.com/BTCSessions🐦 Follow on X: https://x.com/theBTCmentor⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io ⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB⚡ Sponsored by BITCOIN WELL: Best Place to BUY & SELL BITCOINhttps://qrco.de/bfiDC6#Bitcoin #BitcoinSentiment #BTCSessions #BTC #MarketPsychology #MichaelSullivan #DisbeliefRally #BitcoinRally #BitcoinBottom #BitcoinCohorts #BitcoinOG #CryptoPsychology #FearAndGreed #NarrativeShifts #OnChainAnalysis #BitcoinAnalysis #CryptoSentiment #BitcoinTwitter #SelfCustody #BitcoinTreasury #MSTR #StackSats #BIP110 #BitcoinInterview

Mentor Sessions Ep. 091: Tom Luongo explains the 2026 currency war, Scott Bessent's yen bomb, oil collateral, European bond squeeze, and the US Treasury buyback plan.The previously most powerful people in the world are now price takers, not price makers — and Tom Luongo walks through exactly how Scott Bessent flipped that switch. Global markets just witnessed a structural break in the European bond trade, and almost nobody saw the mechanism behind it.In this conversation, Tom Luongo and Nathan break down the currency war unfolding across the FX and bond markets: how Bessent 'bombed the yen' by selling euros instead of dollars, why the euro-yen cross froze the moment Operation Epic Fury began, and how Iranian oil loadings were being used as collateral to fuel the short-yen, short-Treasury trade. You'll learn why the US Treasury buyback expansion is a signal and not QE, how the German Bund fits into Europe's alleged default-and-consolidate endgame, and what John Ratcliffe's open trip to Moscow may be telegraphing. You'll also hear Luongo's falsifiable macro thesis — where the 30-year yield goes next, and what it means for gold, silver and Bitcoin.⏱️ Timestamps:0:00 - Intro0:44 - Bessent's Moves on Yen and Euro1:27 - Shifting From Kinetic to Economic Siege3:06 - The Yen Carry Trade That Shouldn't Exist4:42 - Bessent Blew It Up Selling Euros8:26 - Euro-Yen Cross Freezes After Iran Strikes8:49 - Iranian Oil Used as Trade Collateral11:17 - Traders Trapped After Buying Oil Breakout12:59 - How Bessent Scans 270 Markets for Signals18:05 - Treasury Buyback Expansion Details22:04 - Defending the 5.25 Percent Yield Level23:31 - Buyback Limit Is Just a Market Signal27:15 - Europe's Default and ECB Consolidation Plan28:45 - Financial Warfare and Carney's Trade War29:40 - Abundant Mines Sponsor33:20 - Banks Trading With Iran Cut From Dollars38:01 - US Taxpayers Funding Global Financial Chaos41:24 - Is the Budget Deficit Really Shrinking45:17 - China Iran Canada Oil and Banking Links47:46 - Why Ratcliffe Is Meeting Russia in Moscow50:54 - BRICS as Hedge Not Dollar Replacement53:33 - Gold Silver Bitcoin Surge Explained55:20 - Pushing the Long End of Yields Lower59:00 - Key Markets to Watch Through Election1:00:14 - Reading the Charts That Actually Matter1:01:16 - Luongo's Falsifiable Macro Thesis1:02:38 - Where to Follow Tom LuongoTom Luongo publishes his macro analysis and the Gold, Goats 'n Guns newsletter — links below. ⚡Previous Episode - Jeff Booth & Scott Melker: https://youtu.be/J7ze_lMKbZM 🔗 Links & Resources:• Tom Luongo on X: https://x.com/TFL1728• Gold Goats 'n Guns blog: https://tomluongo.me🔔 Subscribe for weekly Bitcoin Podcasts🐦 Follow on X: https://x.com/BTCSessions🐦 Follow on X: https://x.com/theBTCmentor⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io ⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB#Bitcoin #ScottBessent #TomLuongo #Gold #Iran #MarkCarney #BondMarket #USTreasury #YenCarryTrade #CurrencyWar #FinancialWarfare #GlobalMacro #DollarSystem #Geopolitics #BTCSessions #OilCollateral #EuroDefault #GermanBund #KevinWarsh #Silver

Mentor Sessions Ep. 090: Jeff Booth and Scott Melker discuss Bitcoin adoption, ETF co-opting, the AI bubble, self-custody risk after the ColdCard hack, and the debt reset.Wall Street, the ETFs, and the treasury companies are making every attempt to co-opt Bitcoin — and Jeff Booth and Scott Melker explain why that capture attempt may be exactly what Bitcoin needs to survive. The $350 trillion global debt pile is already insolvent, the AI bubble is still inflating, and self-custody just took a brutal reality check after the ColdCard fallout.In this conversation you'll learn why Booth believes the existing system and Bitcoin cannot coexist over the long run, why he feels "incredible" even as price bleeds, and how the messy financialization of Bitcoin through institutions still funnels people toward spot self-custody. You'll hear Melker's honest read on adoption — that when arguments come down to "rolling dice for entropy," we are nowhere near mainstream — and Booth's thesis on why AI CapEx can never be paid back when the marginal cost of a line of code is zero. You'll also get a candid post-mortem on hardware wallet security, why "don't trust, verify" broke down for thousands of users, and what a new generation of self-custody solutions might look like.⏱️ Timestamps:0:00 - Intro0:54 - Scott on adoption and why Bitcoin is strongest yet3:08 - Did Covid pull forward Bitcoin demand like credit?5:20 - Jeff Booth's first-principles case: $350T of insolvent debt7:33 - Why Bitcoin and the centralizing system can't coexist8:33 - If they can't kill it, they have to co-opt it9:04 - Where each of us chooses to put our energy11:44 - Does financialization actually risk decentralization?12:11 - Scott's 2026 tweet on Bitcoin being co-opted15:22 - Sticky narratives and gaining exposure to Bitcoin15:49 - Scott's personal path from altcoins to Bitcoin17:39 - Jeff on watching thousands make the same transition18:14 - The rational actor trapped inside the system22:32 - The abundance of deflation and killing the price story26:07 - Ad: Abundant Mines27:03 - What Wall Street friends really think of Bitcoin28:09 - The ColdCard hack hits the Bloomberg terminal30:09 - Will people flee to qualified custodians and ETFs?31:11 - How far along the self-custody journey are we really?33:05 - Rolling dice for entropy and the honesty test35:47 - Self-custody as an active, ongoing responsibility39:10 - How would you tell a beginner to custody Bitcoin in 2026?40:42 - The brutal and beautiful side of the Bitcoin community45:35 - Testing your recovery: move it, back it up, verify47:13 - New private federation and settlement security models48:41 - Scott's view of the AI markets and the coming bubble pop51:26 - Jeff on marginal cost of code, why everything goes to free55:14 - Orange juice, private equity, and moving businesses into Bitcoin57:22 - Where to follow Scott and Jeff🔗 Links & Resources:• Follow Scott Melker on X: https://x.com/scottmelker• Follow Jeff Booth: https://jeffbooth.com🔔 Subscribe for weekly Bitcoin Podcasts🐦 Follow on X: https://x.com/BTCSessions🐦 Follow on X: https://x.com/theBTCmentor⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io ⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB#Bitcoin #BTC #BTCSessions #JeffBooth #ScottMelker #BitcoinSelfCustody #ColdCardHack #AIBubble #DebtCrisis #BitcoinETF #SoundMoney #FinalReset #BitcoinAdoption #Deflation #HardwareWallet #BitcoinInterview #BitcoinOnly #SelfCustody #BitcoinPrivacy #FreeMarket #BitcoinNodes #MacroBitcoin #BitcoinCooption #DecentralizedMoney #WoldOfAllStreets

Mentor Sessions Ep. 089: Bitcoin hardware wallet makers Zach Herbert, Tomas Susanka and Drew Fischer discuss the Coldcard hack, multi-sig, entropy and self-custody security.The Coldcard hack was the single biggest blow to Bitcoin self-custody yet — so four rival hardware wallet makers sat down together to figure out what it means for everyone holding their own keys. This is the conversation the industry needed.Zach Herbert (Foundation Passport), Tomas Susanka (Trezor), Drew Fischer (Blockstream Jade) and Seed from the SeedSigner team break down the fallout: what the vulnerability actually exposed, why open source alone wasn't the safety net people assumed, and the entropy/dice-roll debate that split the panel. You'll learn why multi-vendor multi-sig is emerging as the strongest defense, how entropy is really generated on these devices, and the honest trade-offs between usability and security. You'll also hear the fresh news on the Trezor fulfillment-partner data leak (disclosed August 10, 2026) and what to do if you're worried about shipping and privacy.This is a rare, candid roundtable where competitors disagree openly — and that dialog is exactly what makes it worth your time.⏱️ Timestamps:0:00 - Intro0:56 - Four wallet makers respond to Coldcard hack1:58 - Ben's question on self-custody downstream effects3:02 - Zach on short-term setback and great hardening6:19 - Tomas on AI helping attackers and defenders8:44 - Drew on custodians, ETFs and verify don't trust10:30 - SeedSigner on entropy sources and multi-sig13:11 - Usability versus security trade-off debate17:20 - Should self-custody be made harder not easier18:56 - Dice rolls versus RNG entropy disagreement22:16 - Zach on how many people actually self-custody26:14 - Priorities when choosing a hardware wallet29:01 - Security as a journey not a destination33:03 - Sponsor: Abundant Mines36:00 - Why multi-vendor multi-sig should be the goal41:25 - Source available versus fully open source explained47:34 - Open source as required but not sufficient51:11 - How to know if a wallet is actually safe56:57 - Trezor fulfillment data leak disclosed August 101:03:49 - Private device purchases and local meetups1:06:01 - Where to find each project online🔗 Links & Resources:→ SeedSigner: https://seedsigner.com→ Foundation Passport: https://foundation.xyz/→ Trezor: https://trezor.io→ Blockstream Jade: https://blockstream.com/jade🔔 Subscribe for weekly Bitcoin Podcasts🐦 Follow on X: https://x.com/BTCSessions🐦 Follow on X: https://x.com/theBTCmentor⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io ⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB#Bitcoin #BTC #BTCSessions #BitcoinSelfCustody #ColdCard #ColdcardHack #BitcoinHack #HardwareWallet #MultiSig #SeedSigner #Trezor #Passport #BlockstreamJade #BitcoinSecurity #NotYourKeys #ZachHerbert #TomasSusanka