In this episode, Stephan Livera breaks down how digital credit, Stretch, and amplified treasury strategies are pulling future buying pressure into the present, why Core versus Knots has become more noise than signal, and how miner incentives, spam debates, and quantum FUD fit into the bigger picture. We dig into the power law model, medium-of-exchange progress, and the mechanics behind volatility itself to understand where bitcoin is truly headed as adoption accelerates.

Timestamps:

00:00 - Intro

00:32 - What digital credit actually means

02:04 - Digital credit and the speculative attack

05:16 - What amplified bitcoin really is

06:08 - Why bitcoin’s volatility feels so brutal

09:35 - Can past performance predict bitcoin’s future?

14:24 - Why the power law model matters

15:02 - Will treasury companies amplify volatility?

19:42 - Digital credit’s reflexive feedback loop

23:53 - Bitcoin Core vs. Bitcoin Knots explained

36:53 - Quantum computing: real risk or distant FUD?

43:21 - Is bitcoin finally becoming a medium of exchange?

47:54 - Are four-year cycles real or just memes?