This episode of the Blockrunner Podcast breaks down one of the most revealing weeks we’ve seen at the intersection of crypto, AI, and creator monetization.
What began as a promising experiment in creator capital markets quickly turned into a live stress test for liquidity, incentives, and trust. We walk through the rise and collapse of the Ralph token, why it initially made sense, how it gained traction, and why it unraveled the moment the creator sold. The fallout wasn’t just about price action. It exposed deeper structural problems that most internet capital markets haven’t solved yet.
From there, the conversation expands into the accelerating timeline toward AGI, why looping AI systems and agent swarms change the nature of work, and what happens to human purpose when intelligence becomes abundant. We react to Davos conversations, including moments where Bitcoin is openly laughed at by legacy financial institutions, and explain why those reactions reveal more ignorance than confidence.
We then tackle the uncomfortable question most Bitcoin holders avoid: how the network remains secure long-term. Transaction fees alone are not a viable answer. We explore why Bitcoin’s security budget faces a real challenge over the next decade and why a second subsidy may be the only credible path forward without changing Bitcoin’s core protocol.
This episode ties everything together into a single thesis. Internet capital markets are early, powerful, and inevitable, but without proper incentive design and liquidity structure, they will continue to fail in dramatic fashion.
If you’re thinking seriously about AI, crypto, creator monetization, and Bitcoin’s future, this episode will challenge your assumptions.
Learn more about the second subsidy thesis at natgmi.com.
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.
We’ve been building for more than a year now in the Bitcoin ecosystem and are finally at a point where we are able to hone in and lock down our development roadmap in order to finalize our metaverse on Bitcoin vision. Since the beginning days of DMT we have relied on Benny’s developments on the TAP protocol to support critical functionalities. As the TAP protocol continues to evolve, our more metaverse development focused goals now seem much more feasible and a high velocity metaverse economy built on Bitmap, powered by BitmapOS and the TAP protocol. We discuss the difficulties we have faced in this journey so far in developing DMT protocol and now BitmapOS technologies to improve the developer experience for Bitmap builders.
We begin our podcast talking about some of the drama within the Ordinals community around the disruptive ability for Ordinal collection founders to make alterations to what is and is not part of their collection post mint. This falls in direct opposition to what Ordinal influencers have touted as the killer benefit to owning an Ordinal art piece as opposed to an NFT. The immutability provenance associated to Bitcoin does not seem to be applied in the metaprotocol realm and we discuss exactly why this is and detail how this will be a continued issue and potential FUD vector as the Ordinals market continues forward.
We then go into more details about the NATRIX which we will likely begin LDE within the coming days without a fixed date. We break down what Bitmap is and how the NATRIX is the most true to Bitmap metaverse ecosystem roll out since the inception of Bitmap Theory. Also, we discuss how NATRIX is a showcase demonstration of how to onboard community by utilizing a single Bitmap as a super powerful tool to align community to partake in the construction process of a virtual environment. Also highlighting how the tools developed to make NATRIX a powerhouse demonstration being publicly available for all Bitmap owners to utilize in the future.
As time goes on the Bitcoin development space continues to bifurcate and segment into separate ecosystems that deploy their own native solutions to Bitcoin’s biggest problem, its lack of programmability. We discuss with Fitzy from the TAP team how the current state of Bitcoin looks with so many emerging meta protocols, L2s, and Fractal chains entering into the equation as a potential viable solution. We contemplate the markets perceptions around the technical need of indexing in support of app development around Bitcoin and also question the merits of new entrants into the meta protocol space.
We also talk about some of the upcoming updates coming to the TAP protocol such as BRC20 support, Blockdrops, DMT data fields, and Bitmap support. Also rundown the history of Benny’s contributions to the Ordinals/Bitcoin ecosystem and highlight the significance of the TTP ecosystem in supporting the application of DMT.