Bitcoin’s biggest risk isn’t the SEC, ETFs, or alt-L1s… It’s the shrinking security budget nobody wants to talk about. We break down why treating Bitcoin as “digital gold” creates the Empty Castle Effect: a multi-trillion dollar asset sitting on-chain with collapsing fees and a weakening incentive for miners to defend it long term.
We walk through the timeline of miner adoption of NAT (Non-Arbitrary Tokens) and why having ~60% of Bitcoin hash rate already touching NAT matters for security. From COVID and the failed “metaverse pivot,” to AI eating all jobs, to tiny homes and Ready Player One, we zoom out on how economic incentives are shifting and why Bitcoin’s fee market can’t be left to vibes and rainbow charts forever.
We also react to an AI-generated explainer built with NotebookLM, talk Jensen Huang, reusable rockets, and first-principles thinking, then deconstruct Michael Saylor’s latest “Bitcoin rocket” diagram and the pyramid accusations around it. Finally, we go deep on why “Bitcoin will just keep doubling” quietly violates basic physics, how that ties into the security budget problem, and where Digital Matter Theory (DMT) and NAT fit in as a potential answer.
If you care about Bitcoin’s long-term security, miner incentives, and what a post-halving world looks like when block rewards fade, this is the episode you shouldn’t skip.
We sit down with the leader of Skullx community, Knox who shares his background with the collection as an early day participant when it was based on Ethereum, to now fully taking over as community lead and bringing the community to Ordinals. We ask what motivated that transition and speak about the opportunities that lie ahead for Ordinals and the Bitcoin ecosystem. Also, we dive deep into the mindset of a community leader attempting to foster a cult like alignment among holders to push a common cause. With memes taking front and center stage for the moment, how can NFT communities achieve the same hive mind effects to achieve greater market heights. We discuss what the upcoming Skullx Infinite collection is all about and how Knox plans to position this collection and community as a force within Ordinals that reflects the positive elements of having a Bitcoin native presence.
We sit with the team at Bitmap Studios and discuss all things metaverse on Bitcoin and DMT. Bitmap Studios is launching a new avatar collection called The BitAvatars in a few days (Oct 24th) on Mscribe. This will be a UNAT collection, sharing the same element pattern as Natcats, giving the non-arbitrary supply of 8,064.BitAvatars are unique 3D models with interoperable use cases in mind. Already these avatars will be functional with FOXXI’s Bitverse, Inscribed.Space, and The NATRIX. This focus gives tremendous ability to these avatars and their access to a wider range of experiences for holders. We discuss how Avatars can serve as a killer onboarding vehicle for new users of a Bitmap. We then discuss Bitmap Studios recent developments in the NATRIX which showcase the ability for creators to leverage MML and Bitmap parcels to produce engaging and showcase worthy experiences. We go deep on DMT application within the metaverse economy and highlight how blockdrops are being leveraged to amplify the metaverse economy.
We receive a very insightful question from somebody who watches this podcast who has been an active participant in the things we have been building. The question focuses on tying together $NAT, Bitmap, NATRIX, DMT NATs and UNATs into a sensible overall understanding how all these creations interplay with each other. We discuss how our thesis of metaverse maximalism has influenced just about everything in relation to what we have been building on Bitcoin. By understanding the economic requirements of the metaverse and the need to introduce digital commodities for the metaverse market on Bitcoin, $NAT and the DMT framework ws built in order to maintain non-arbitrary principles Bitmap introduced for this new asset class. NATs and UNATs all are created through the utilization of Bitcoin block data, thus giving their existence a forever association to Bitcoin as opposed to arbitrary token creations. We describe the NATRIX as the culmination of all these technologies by bringing the DMT commodities market into a composable application environment that can be hosted by Bitmap parcel owners. The real mission to increase interest in metaverse asset ownership and to kickstart a UGC economy that accelerate the proliferation of content and experience for metaverse users. We do so by leveraging $NAT as the face of the ecosystem in order to introduce the principles of DMT in the manner that poses the least friction. With $NAT token interest surging, more will discover all other DMT creation from art to the metaverse. What does this all lead to? Hopefully a metaverse economy with truly unique economic properties related to what makes Bitcoin valuable and in the end onboarding a larger user base to Bitcoin who are less interested in Bitcoin financial application, more so inclined to participate in the nascent metaverse journey.
We recently initiated the first Bitmap LDE and community reaction has been quite volcanic. More than 600 parcels have been distributed from a single Bitmap and builders are already utilizing the tools of BitmapOS to build out their virtual experiences within the NATRIX. However, members of the Bitmap community feel this to be a negative for the Bitmap ecosystem due to differences in interpretations of how Bitoshi’s Bitmap Parceling standard is to be respected. We go through our reasoning and logic as to how we performed an LDE in the manner that has been done utilizing TAP protocol for a more efficient approach.
We recently initiated the first Bitmap LDE and community reaction has been quite volcanic. More than 600 parcels have been distributed from a single Bitmap and builders are already utilizing the tools of BitmapOS to build out their virtual experiences within the NATRIX. However, members of the Bitmap community feel this to be a negative for the Bitmap ecosystem due to differences in interpretations of how Bitoshi’s Bitmap Parceling standard is to be respected. We go through our reasoning and logic as to how we performed an LDE in the manner that has been done utilizing TAP protocol for a more efficient approach.