Stephan Livera Podcast

Kruw (@kruwed) runs one of the highest-volume WabiSabi coordinators, giving him direct insight into how the protocol handles liquidity, Sybil resistance, and real-world usage.
Timestamps:
00:42 — Wasabi 2.8 Privacy Features 
02:45 — Taproot As Wasabi's Default Address
07:25 — Pay Inside CoinJoin Saves 40 Minutes
10:26 — Auto CoinJoin 
12:21 — WabiSabi Blocks Whale Sybil Attacks
14:31 — Payjoins
16:37 — ClusterMempool Wins for CoinJoins
20:00 — Upcoming forks
21:14 — CoinJoin: Free Replay Protection Hack
22:53 — CoinJoin Ban Myth Debunked
25:41 — Black Hole: Earn While Mixing
Links: 
https://x.com/wasabiwallet

https://x.com/Kruwed

https://wasabiwallet.io/

Stephan Livera links:
Follow me on X: @stephanlivera

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In this episode, Mike Schmidt executive director of Brink, and volunteer coordinator for the consortium, explains how the group formed, autonomy over funding, and how it plans to avoid repeating earlier centralized roadmap fights.
Timestamps:
00:55 — Quantum Risk and the Consortium Pledge
03:10 — The Nine Consortium Members
11:40 — Publishing Quantum Research Publicly
13:39 — Brink Role and Funding Concerns
16:20 — Defining Early Success Metrics
19:00 — Informing the Public on Quantum Progress
21:17 — Institutional Influence and Protocol Concerns
25:13 — Research First on Quantum Signatures
29:25 — Expanding Quantum Expertise
33:14 — Scope Beyond Quantum Security
35:31 — Why Quantum Motivates Corporate Involvement
37:43 — Debates Over Development Funding
40:30 — No Protocol Roadmap From the Consortium
42:57 — Three-Year Goal: Mature Proposals
Links: 
Press release: https://www.strategy.com/press/leading-financial-institutions-bitcoin-companies-launch-the-bitcoin-security-consortium_07-23-2026

Mike’s thread: https://x.com/bitschmidty/status/2080263159152091455

Consortium X: https://x.com/BTCconsortium 

Stephan Livera links:
Follow me on X: @stephanlivera

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Buchner, known for his work on decentralized identity at Proof, brings a technical and game-theoretic lens to the debate over Bitcoin's monetary focus versus attempts to restrict arbitrary data.
The conversation covers narrative shifts driving spam to Bitcoin, the limits of relay policy versus consensus rules, why the house analogy fails, economic node power over basement operators, and the lack of miner or buyer support that dooms the proposal.
Timestamps:
01:31 — Locusts Flock to Bitcoin's Last Pasture
03:32 — Core Policy Tweaks Aren't Consensus Rules
08:44 — Spam Hides in Any Public Key or Hash
11:12 — Spammers Adapt in a Day, Consensus Can't
14:59 — BIP110 Debate Exposes Major Inconsistency
20:44 — Why the House Analogy Totally Fails
25:25 — Nodes Get Cheaper Even With Max Spam
28:08 — Set Tolerances Assuming Worst Case
30:35 — No Legal Liability for Bad Chain Data
33:04 — Filter Regime Creates Government Backdoor
35:13 — BIP 110 Risks Centralizing Devs Around Luke
37:33 — Economic Incentives Trump 'Good Guy' Miners
39:03 — Economic Nodes Outweigh Basement Node Runners
43:49 — BIP 110 Has Near-Zero Economic Support
48:43 — Why Game Theory Kills BIP 110
55:52 — BIP 110 Fork Dies With a Whimper
Links: 
https://x.com/csuwildcat

Stephan Livera links:
Follow me on X: @stephanlivera

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Lyn Alden warns that BIP 110 is unlikely to curb spam and instead mostly rearranges non-monetary data, raising the risk of a minority fork attempt that could split the Bitcoin chain.
Lyn Alden is a leading macro analyst and Bitcoiner who examines how fiscal dominance now overrides traditional monetary policy tools.
She breaks down why high debt-to-GDP ratios prevent rate hikes from taming inflation, how broad money supply still expands 5-8 percent annually, the limits of semiconductor and AI valuations, and the structure of a new Bitcoin-backed permanent capital vehicle for acquiring cash-flowing businesses.
Timestamps:
02:14 — BIP 110 Won't Stop Spam
04:56 — Bitcoin Faces August Chain Split Risk
12:12 — Bitcoin in Bottom Decile of Cycle
15:37 — Nothing Stops This Fiscal Train
18:04 — Why Volcker Can't Work Today
22:02 — Higher Rates Won't Break the System
24:44 — Net Issuance Matters, Not Gross Refi
27:34 — Fed Balance Sheet Stays Flattish
32:56 — Broad Money Grows Despite Flat Fed
36:05 — US Money Supply Growth Hits 5-8%
38:51 — Fiscal Dominance: Who Wins the Money?
41:50 — Why Semiconductors Print Money
45:13 — Software Stocks: Value Trap or Opportunity?
47:31 — AI Is the New Dot-Com Bubble
52:00 — Orange Juice: Bitcoin-Backed Business Buyer
57:57 — Permanent Capital Vehicle, Not a Fund
59:39 — Founders Keep Equity Upside After Sale
Links: 
 X: https://x.com/LynAldenContact

Website: https://www.lynalden.com/0

BIP 110 debate ("motte-and-bailey" critique): https://x.com/LynAldenContact/status/2078599151043162159 

Stephan Livera links:
Follow me on X: @stephanlivera

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Bitcoin desire sentiment has fallen to an eight-year low, a contrarian signal that historically aligns with market bottoms rather than tops.
Michael Sullivan, an engineer and author, applies machine learning to individual X accounts to track granular Bitcoin emotions and moods over time.
He examines how entry eras shape lasting narratives, why pro-BIP 110 cohorts show strikingly low conviction, how individual tracking avoids bot pollution, and why boredom plus infighting often mark optimal accumulation zones.
Timestamps:
01:44 — Conviction Isn't Bullish or Bearish
07:05 — Why Individual X Tracking Beats Bots
09:53 — Desire Peaks Flag Bull Market Tops
11:49 — Bitcoin Desire Hits 8-Year Low
16:27 — New Bitcoiners Angriest Right Now
21:00 — Bitcoin Entry Era Shapes Your Views Forever?
22:48 — BIP 110 Backers Show Strikingly Low Conviction
25:33 — Pro-BIP 110 Group Lives in Its Own Bubble
28:39 — BIP110 Brigading Creates Fake Consensus
31:57 — OGs Optimistic, Plebs Stay Angry
37:13 — X Algo Shift Sparks Bitcoin Optimism
39:57 — Why Sentiment Metrics Fail for Trading
41:55 — Boredom and Infighting Signal Bitcoin Bottom
Links: 
Michael's X: https://x.com/SullyMichaelvan

Bitcoin Sentiment Weekly on Substack: https://sentimentsully.substack.com

Michael’s novel, Blood of the Bourgeoisie: https://www.amazon.com/Blood-Bourgeoisie-Michael-R-Sullivan-ebook/dp/B0FRZTM49Y

Stephan Livera links:
Follow me on X: @stephanlivera

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