Eric Yakes runs Epoch Ventures and is the author of The 7th Property: Bitcoin and the Monetary Revolution.

› https://x.com/ericyakes

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› https://youtube.com/@bramk⁠⁠

› https://x.com/bramk

🕑 TIMESTAMPS

00:00 - Immutability as a Core Property of Money

01:19 - The Evolution of Money: From Private to Centralized

03:20 - Coinage, Coin Clipping, and Roman Debasement

05:11 - Banking Origins: Receipts and Fractional Reserves

07:14 - Central Banks, Paper Money, and the Telegraph Era

09:38 - The Fiat Era: Debt Expansion and Moral Hazard

11:19 - How Bitcoin Removes Monetary Tradeoffs

13:14 - Trust, Human Fallibility, and Objective Verification

16:58 - A Distributed Future: Bitcoin Meets AI

20:37 - Agency, Incentives, and Escaping Fiat Life Scripts

23:42 - Why Monetary Technology Adopts Slowly

25:51 - Adoption S-Curves: Store of Value Comes First

31:44 - Volatility, Institutions, and Capital Depth

38:02 - Volatility vs. Risk: Narratives Drive Markets

43:46 - Why Bitcoin Is Hard to Understand

47:58 - Banks, Credit, and Fractional Reserve on Bitcoin

57:32 - Hot Takes: Nasdaq Correlations and Crashes

01:00:16 - Quantum Computing and Bitcoin as a Protocol

01:04:22 - Fears and Hopes: Freedom Money and Mining

ℹ️ EPISODE SUMMARY

Bram Kanstein and Eric Yakes discuss why Bitcoin adds immutability as a new property of money. They trace how trust slid from coinage to banks to fiat, and why moral hazard keeps showing up. Yakes frames Bitcoin self-custody as lowering the cost of sovereignty, like holding value on a USB instead of in a vault. They confront volatility, institutions, and why narrative moves markets before fundamentals. They close on credit, fractional reserve incentives, quantum computing, and Bitcoin’s long game.

RELAI DISCLAIMERRelai sponsors this show/podcast and is authorized to provide crypto-asset services in Switzerland and across the European Union under the MiCA regulatory framework with its license issued by the French regulator, AMF (License No: A2025-006). The company is actively expanding its services to EU member states following the completion of passporting notifications.

Niko Jilch is a renowned finance journalist, podcaster, and fierce advocate for Bitcoin and sound money principles.

› https://x.com/NikoJilch

› https://www.youtube.com/@WasBitcoinbringt

PARTNERS

🌳 Gain peace of mind with Onramp’s Multi-Institution Custody solution. Sign up with code BRAM to receive $150 in Bitcoin after your first deposit: https://onrampbitcoin.com/bram

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PRODUCTS I ENDORSE

› Get 10% off a Bitaxe open-source Bitcoin home miner using code BRAM at https://shop.powermining.io/?ref=BRAM

› Blockstream Jade Plus: The simplest and most secure hardware wallet on the planet - Get 10% off with code BRAM at https://store.blockstream.com

› Stamp Seed: The safest way to backup your hardware wallet - Get 15% off with code BRAM at https://stampseed.com

🔔 SUBSCRIBE TO GET NOTIFIED

› https://youtube.com/@bramk⁠⁠

› https://x.com/bramk

🕑 TIMESTAMPS

00:00 - Europe Under Pressure: Gold vs. Bitcoin

05:07 - The Euro Explained: Gold Backing and Structure

07:24 - 13,000 Tonnes of Gold on European Balance Sheets

09:44 - Euro Credibility: Draghi, Lagarde, and Central Banking

12:22 - Europe Reacts to Trump: De-Dollarization Dynamics

16:42 - Trump as a Gorbachev Moment

20:04 - How the Dollar Timeline Was Extended

23:22 - Why Gold Is Outperforming Bitcoin (For Now)

28:31 - The Welfare State Is Bankrupt: Printing as Policy

31:00 - Gold as the Alarm, Bitcoin as the Confirmation

32:12 - Self-Custody as an Individual Survival Strategy

36:12 - The 2010 Crisis: Panic, Gold, and Hard Lessons

38:13 - Accepting Fiat Failure and Protecting Yourself

46:19 - Stablecoins, Eurodollars, and Treasury Demand

56:04 - CBDCs vs. Neutral Money: Why Bitcoin Matters

01:00:00 - If the US Embraces Bitcoin, Can Others Ignore It?

ℹ️ EPISODE SUMMARY

Bram Kanstein and Niko Jilch discuss why gold is ripping while Bitcoin looks stuck. Europe’s euro project, CBDCs, and political centralization get put under a harsh light. Niko reveals the euro’s hidden gold backing, 13,000 tonnes, and why that matters for monetary geopolitics. They confront stablecoins as a stealth extension of dollar power, and Europe’s fear of them. The thread that holds it together is sovereignty, self-custody, and conviction in a fiat system that keeps printing.

RELAI DISCLAIMERRelai sponsors this show/podcast and is authorized to provide crypto-asset services in Switzerland and across the European Union under the MiCA regulatory framework with its license issued by the French regulator, AMF (License No: A2025-006). The company is actively expanding its services to EU member states following the completion of passporting notifications.

Jeroen Blokland is a seasoned professional investor with over 20 years of experience, and the author of ‘The Great Rebalancing’.

› https://x.com/jsblokland

› https://greatrebalancing.com

PARTNERS

🌳 Gain peace of mind with Onramp’s Multi-Institution Custody solution. Sign up with code BRAM to receive $150 in Bitcoin after your first deposit: https://onrampbitcoin.com/bram

🟧 Buy Bitcoin in the EU 🇪🇺 via https://relai.me/bram - Sign up with code BRAM to get 10% off your fees

PRODUCTS I ENDORSE

› Get 10% off a Bitaxe open-source Bitcoin home miner using code BRAM at https://shop.powermining.io/?ref=BRAM› Heat your home and Earn Bitcoin with Heatbit - Get 5% off with code BRAM at ****https://heatbit.com/?ref=BRAM

› Blockstream Jade Plus: The simplest and most secure hardware wallet on the planet - Get 10% off with code BRAM at https://store.blockstream.com

› Stamp Seed: The safest way to backup your hardware wallet - Get 15% off with code BRAM at https://stampseed.com

🔔 SUBSCRIBE TO GET NOTIFIED

› https://youtube.com/@bramk⁠⁠

› https://x.com/bramk

🕑 TIMESTAMPS

00:00 – The Debt System Is Breaking01:21 – The UK Crisis Was the Warning05:36 – Japan Proves This Isn’t a One-Off10:00 – Why Fiat Lies About Returns16:00 – Yield Curve Control & the Death of Markets18:13 – The End of the 60/40 Portfolio28:00 – Inflation, Repression, and Locked-In Spending38:00 – Fiscal Dominance Takes Over48:00 – Why Scarce Assets Win (Gold & Bitcoin)58:00 – The Great Rebalancing Has Begun01:13:00 – How the State Will Try to Trap Capital01:27:00 – What Insiders Actually Own

ℹ️ EPISODE SUMMARY

Bram Kanstein and Jeroen Blokland discuss why the UK bond blowup during Liz Truss’ short moment in power was a canary in the coal mine for the debt trapped world. They explain how negative real yields break the 60/40 portfolio, bonds stop protecting, they quietly drain purchasing power. They confront fiscal dominance, yield curve control, and financial repression that locks savers into refinancing the system. They make the case for scarce assets like gold and Bitcoin, plus Bitcoin’s trustless settlement as an exit valve. They close on The Great Rebalancing, why scarcity may rise exponentially, and why your investing mindset needs a reset.

RELAI DISCLAIMERRelai sponsors this show/podcast and is authorized to provide crypto-asset services in Switzerland and across the European Union under the MiCA regulatory framework with its license issued by the French regulator, AMF (License No: A2025-006). The company is actively expanding its services to EU member states following the completion of passporting notifications.

Jake Scanlan is an engineer and the founder of Hashpower Academy, where he demystifies Bitcoin and empowers a new generation by teaching its fundamentals, from the watts powering the network to the sats you stack as money.

› https://x.com/jakescanlan

› https://www.youtube.com/@HashpowerAcademy

PARTNERS

🌳 Gain peace of mind with Onramp’s Multi-Institution Custody solution. Sign up with code BRAM to receive $150 in Bitcoin after your first deposit: https://onrampbitcoin.com/bram

🟧 Buy Bitcoin in the EU 🇪🇺 via https://relai.me/bram - Sign up with code BRAM to get 10% off your fees

PRODUCTS I ENDORSE

› Get 10% off a Bitaxe open-source Bitcoin home miner using code BRAM at https://shop.powermining.io/?ref=BRAM› Heat your home and Earn Bitcoin with Heatbit - Get 5% off with code BRAM at https://heatbit.com/?ref=BRAM

› Blockstream Jade Plus: The simplest and most secure hardware wallet on the planet - Get 10% off with code BRAM at https://store.blockstream.com

› Stamp Seed: The safest way to backup your hardware wallet - Get 15% off with code BRAM at https://stampseed.com

🔔 SUBSCRIBE TO GET NOTIFIED

› YouTube: ⁠⁠https://youtube.com/@bramk⁠⁠

› Follow Bram on ⁠⁠https://x.com/bramk

🕑 TIMESTAMPS

00:00 - Introduction to Bitcoin Mining and Education02:42 - The Energy-Finance Connection09:56 - Bitcoin as a Scientific Accounting System16:23 - Local Energy Production and Individual Opportunities23:58 - The Future of Bitcoin in Everyday Life32:16 - Teaching the Next Generation about Bitcoin34:14 - The Fascination of Energy Distribution35:27 - Innovations in Bitcoin and Energy40:13 - Peer-to-Peer Energy Trading43:10 - The Role of Bitcoin in Agriculture47:54 - Decentralizing Mining for Everyday Use52:45 - Cost Reduction through Bitcoin Mining52:59 - The Future of Money and Value

ℹ️ EPISODE SUMMARY

Bram Kanstein and Jake Scanlan discuss why Bitcoin mining is the missing bridge between energy and finance. They reframe proof of work as a scientific accounting system that turns wasted electricity into verifiable money. Jake breaks down Bitcoin per kilowatt hour as the real hurdle rate that can stabilize grids and reprice energy. They confront the fiat mismatch, numbers in a database buying real-world energy. The conversation ends in El Salvador, where mining becomes heat, cost reduction, and everyday Bitcoin adoption.

RELAI DISCLAIMERRelai sponsors this show/podcast and is authorized to provide crypto-asset services in Switzerland and across the European Union under the MiCA regulatory framework with its license issued by the French regulator, AMF (License No: A2025-006). The company is actively expanding its services to EU member states following the completion of passporting notifications.

Mauricio Di Bartolomeo is the co-founder and Chief Strategy Officer of Ledn, a leading global platform for Bitcoin-backed lending and savings.

› https://x.com/cryptonomista

PARTNERS

🌳 Gain peace of mind with Onramp’s Multi-Institution Custody solution. Sign up with code BRAM to receive $150 in Bitcoin after your first deposit: https://onrampbitcoin.com/bram

🟧 Buy Bitcoin in the EU 🇪🇺 via https://relai.me/bram - Sign up with code BRAM to get 10% off your fees

PRODUCTS I ENDORSE

› Get 10% off a Bitaxe open-source Bitcoin home miner using code BRAM at https://shop.powermining.io/?ref=BRAM› Heat your home and Earn Bitcoin with Heatbit - Get 5% off with code BRAM at https://heatbit.com/?ref=BRAM

› Blockstream Jade Plus: The simplest and most secure hardware wallet on the planet - Get 10% off with code BRAM at https://store.blockstream.com

› Stamp Seed: The safest way to backup your hardware wallet - Get 15% off with code BRAM at https://stampseed.com

🔔 SUBSCRIBE TO GET NOTIFIED

› https://youtube.com/@bramk⁠⁠

› https://x.com/bramk

🕑 TIMESTAMPS

00:00 – Bitcoin for Millennials: A New Framework

01:28 – Bitcoin as Pristine Collateral

09:50 – Borrowing Without Selling Bitcoin

17:02 – Why Banks Are Structurally Trapped

19:02 – Bitcoin and the Future of Wealth

30:54 – Real Estate: Asset or Liability?

32:17 – Fiat Money’s Hidden Housing Tax

38:12 – The Next Wave of Bitcoin Lending

44:43 – Mortgages vs. Bitcoin Loans

54:56 – Bitcoin, Time, and Meaningful Work

ℹ️ EPISODE SUMMARY

Bram Kanstein and Mauricio Di Bartolomeo discuss why Bitcoin is pristine collateral in a 24/7 market. They break how Bitcoin-backed loans beat real estate on liquidity, divisibility, and global underwriting. Mauricio confronts the mortgage illusion, it is a loan on your income, quietly subsidized by fiat debasement and taxes. They unpack why banks struggle with always-on risk engines, and why regulation is actually pulling Bitcoin finance into the open. It ends on conviction, sovereignty, and why loving the work is the real edge.

RELAI DISCLAIMER

Relai sponsors this show/podcast and is authorized to provide crypto-asset services in Switzerland and across the European Union under the MiCA regulatory framework with its license issued by the French regulator, AMF (License No: A2025-006). The company is actively expanding its services to EU member states following the completion of passporting notifications.

Marty Bent is a prominent Bitcoin advocate and host of the Tales from the Crypt podcast, known for his engaging insights into Bitcoin’s impact on personal freedom.

› https://x.com/martybent

› https://youtube.com/@TFTC

PARTNERS

🌳 Gain peace of mind with Onramp’s Multi-Institution Custody solution. Sign up with code BRAM to receive $150 in Bitcoin after your first deposit: https://onrampbitcoin.com/bram

🟧 Buy Bitcoin in the EU 🇪🇺 via https://relai.me/bram - Sign up with code BRAM to get 10% off your fees

PRODUCTS I ENDORSE

› Get 10% off a Bitaxe open-source Bitcoin home miner using code BRAM at https://shop.powermining.io/?ref=BRAM

› Blockstream Jade Plus: The simplest and most secure hardware wallet on the planet - Get 10% off with code BRAM at https://store.blockstream.com

› Stamp Seed: The safest way to backup your hardware wallet - Get 15% off with code BRAM at https://stampseed.com

🔔 SUBSCRIBE TO GET NOTIFIED

› https://youtube.com/@bramk⁠⁠

› https://x.com/bramk

🕑 TIMESTAMPS

00:00 – The Evolution of Bitcoin’s Market Dynamics

03:03 – The Shift from Fiat to Bitcoin

05:47 – Gold, Silver, and Monetary Confusion

08:43 – Bitcoin vs. Crypto: Clearing the Noise

10:43 – The Future of Bitcoin in Banking

12:35 – Bitcoin as a Truth Machine

15:29 – Building a New Financial System

18:33 – The Underappreciated Aspects of Bitcoin

21:49 – Bitcoin’s Moral Case

24:48 – The Mass Awakening

27:55 – Bitcoin’s Role in the Future

30:43 – Centralization vs. Decentralization

33:09 – Free Speech, Money, and Bitcoin

34:27 – Bitcoin’s Place in the Future Economy

36:56 – Advice for Millennials

39:03 – Bitcoin as a Medium of Exchange

ℹ️ EPISODE SUMMARY

The fiat system has reached its breaking point. Marty Bent returns to the show to explain why we are now in "Phase Two" of a three-phase transition to a Bitcoin standard. We discuss why the $37 trillion debt clock is making traditional "safe" assets a liability and why nation-states are quietly using gold as a bridge to Bitcoin. Marty reveals the truth about the "humiliation ritual" of the US tax system and how the emergence of a "sci-fi banking stack" is allowing individuals to opt-out of traditional banking fraud. If you want to understand why the old four-year cycle is dead and what comes next, this is the episode for you

RELAI DISCLAIMERRelai sponsors this show/podcast and is authorized to provide crypto-asset services in Switzerland and across the European Union under the MiCA regulatory framework with its license issued by the French regulator, AMF (License No: A2025-006). The company is actively expanding its services to EU member states following the completion of passporting notifications.

Vijay Boyapati is the author of The Bullish Case for Bitcoin, widely considered one of the most important foundational philosophical texts in the space.

› https://x.com/real_vijay

PARTNERS

🌳 Gain peace of mind with Onramp’s Multi-Institution Custody solution. Sign up with code BRAM to receive $150 in Bitcoin after your first deposit: https://onrampbitcoin.com/bram

🟧 Buy Bitcoin in the EU 🇪🇺 via https://relai.me/bram - Sign up with code BRAM to get 10% off your fees

PRODUCTS I ENDORSE

› Get 10% off a Bitaxe open-source Bitcoin home miner using code BRAM at https://shop.powermining.io/?ref=BRAM

› Heat your home and Earn Bitcoin with Heatbit - Get 5% off with code BRAM at https://heatbit.com/?ref=BRAM

› Blockstream Jade Plus: The simplest and most secure hardware wallet on the planet - Get 10% off with code BRAM at https://store.blockstream.com

› Stamp Seed: The safest way to backup your hardware wallet - Get 15% off with code BRAM at https://stampseed.com

🔔 SUBSCRIBE TO GET NOTIFIED

› https://youtube.com/@bramk⁠⁠

› https://x.com/bramk

🕑 TIMESTAMPS

00:00 - Introduction to Bitcoin's Evolution

00:26 - The Four Stages of Money

05:56 - Bitcoin as a Store of Value

12:45 - Institutional Adoption of Bitcoin

16:50 - Bitcoin's Role in True Capitalism

19:39 - The Immutable Nature of Bitcoin

20:12 - The Certainty of Bitcoin Ownership

22:15 - Bitcoin vs Gold: A Comparative Analysis

24:13 - Path Dependency and Bitcoin's Future

28:21 - Adoption Models and Bitcoin's Growth

31:54 - The Evolution of Bitcoin's Conviction

32:45 - Nation-State Adoption and Its Implications

36:18 - The Psychological Aspects of Bitcoin Investment

ℹ️ EPISODE SUMMARY

Bram Kanstein and Vijay Boyapati, author of "The Bullish Case for Bitcoin," analyze the state of Bitcoin in 2026. We explore the four stages of monetization, why nation-state adoption is no longer a fringe theory, and why the path to becoming a global reserve currency is now a mathematical certainty. From the institutional surge to the "End Game" where fiat ceases to be an exit, this episode is a roadmap for the final stages of Bitcoin’s evolution. If you think $1 million is high, you're still thinking in the old system.

RELAI DISCLAIMERRelai sponsors this show/podcast and is authorized to provide crypto-asset services in Switzerland and across the European Union under the MiCA regulatory framework with its license issued by the French regulator, AMF (License No: A2025-006). The company is actively expanding its services to EU member states following the completion of passporting notifications.