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0:00 - PBJ growth, consistency, and staying ad-free 12:42 - Why PBJ changed its tagline 15:00 - AI agents the users bitcoin was waiting for 18:36 - How x402 added bitcoin and Lightning support 32:44 - Getting agents and merchants to choose bitcoin 48:26 - Open USD and the new stablecoin power structure 58:47 - Meta, Muse, and who controls agent payments 1:02:25 - Why pitch Lightning instead of bitcoin 1:09:12 - Will agents further centralize the internet? 1:14:02 - Mesh LLM: peer-to-peer inference with bitcoin payments 1:19:02 - Could Signal use Mesh LLM for private AI? 1:25:01 - Bitcoin-style incentives for a decentralized compute market 1:28:45 - Should the internet distinguish humans from agents? 1:35:06 - The emerging permissionless web stack (Nostr Blossom) 1:37:43 - Trump’s “super intelligence” rebrand and AI policy SHOW NOTES: x402: https://block.xyz/inside/block-joins-the-x402-foundation-to-advance-open-agentic-commerce Open USD: https://x.com/openstandard/status/2103152613634293959 Radar: https://radar.particle.pro/

0:00 - How Buzz and GrokBot changed PBJ show prep 9:15 - Building a bitcoin-native agent with GrokBot 17:16 - Why agents will need bitcoin 19:08 - Integrating bitcoin payments into Mesh LLM 23:22 - Bitcoin vs stablecoins for agent payments (bitcoin's edge) 34:52 - Designing online services for agents 37:44 - Using GrokBot: building, personal assistant, convenience and security tradeoffs 43:39 - Passwords, 2FA and credentials for agents 56:55 - Why AI needs a new peer-to-peer internet 1:02:16 - Defining AGI, ASI and autonomous agency 1:05:50 - Who is liable for runaway agents? 1:16:28 - Can regulation keep up with frontier AI? 1:25:43 - AI hacking and the questions of agency and autonomy 1:31:01 - Spiral’s open-source AI film and interactive media ideas SHOW NOTES: https://meshllm.cloud/

0:00 - Special Thursday PBJ 0:59 - How Blockstream Liquid works and how it was hacked 6:57 - The strange (extortionate?) “white hat” twist 10:45 - AI security scanning and Liquid’s 'fix' that made things worse 12:50 - What the Liquid hack reveals about federations and custody 20:07 - How Blockstream plans to make Liquid users whole 26:08 - Open Source AI Summit takeaways 31:30 - Anthropic and the threat to open-source AI 39:51 - Open protocols for agents, identity and memory 43:32 - Vora reveals stunning private, local AI hardware SHOW NOTES: https://opensourceaisummit.org/ https://vora.io/

0:00 - Opening banter 0:40 - PBJ Topic Explorer 7:34 - Particle Radar brings AI search for the world’s podcasts 12:35 - Voya Energy's new approach to metal fuels for storage 23:25 - Nvidia doubles down on open-source AI (Hugging Face acquisition) 35:45 - Using GrokBot for long-horizon research 41:54 - Giving agents long-running goals 46:59 - New security risks and attack surfaces from trusting other agents 53:09 - Is Twitter or Cursor’s data more valuable? 1:03:50 - AI security investigations are getting harder 1:06:55 - Core Lightning vulnerabilities and disclosure dilemma 1:18:35 - How far ahead are frontier AI models? 1:23:36 - Building a market for cheap, spare compute 1:30:30 - Darkbloom’s decentralized (Mac) inference network SHOW NOTES: PBJ Topic Explorer: https://pbarchive.ai/topics/ Voya Energy: https://www.voya.energy/news/voya-energy-unveils-a-new-metal-fuels-energy-system-closes-35-million-series-a Darkbloom: https://www.darkbloom.dev/

0:00 - What's behind bitcoin's rally? 8:33 - Open Source AI Summit and questions for David Sacks 18:00 - Berd and Block’s growing stack of open-source AI agents 22:30 - Alby's TaskFuel simplifying payments for agents 30:14 - The missing credential layer for agents 36:46 - Making sense of Stripe’s OpenRouter acquisition 48:02 - What's OpenRouter’s moat? 52:50 - Apple, OpenAI and the battle for user intent 57:46 - Making the internet infinitely programmable 1:07:47 - BlackRock's new case for bitcoin 1:21:03 - What causes bitcoin’s four-year cycle? 1:26:25 - Strategy's notable resilience 1:30:49 - Is bitcoin becoming more centralized and how best to measure it? SHOW NOTES: https://opensourceaisummit.org/ https://www.blackrock.com/us/financial-professionals/literature/whitepaper/re-underwriting-bitcoin.pdf

0:00 - Last week’s breakout episode 1:36 - Bitcoin, AI and energy are starting to converge 12:06 - Announcing the Type II Summit 15:05 - Panthalassa and offshore compute 17:30 - Introducing the PB Media Archive (pbarchive.ai) 22:15 - Reexamining podcast accountability and ad incentives post-COLDCARD 34:55 - The BTCPay Server exploit (happening in real time) 36:11 - No software project should assume it’s safe 41:20 - Why closed source won’t protect software from AI (OpenAI–Hugging Face incident) 53:40 - Project Loupe’s approach to AI security scanning & learnings 1:01:30 - The push to get early AI access for bitcoin developers 1:06:30 - How the COLDCARD incident has rallied bitcoin security (e.g., Bitcoin Red Team) 1:13:00 - The hidden risks of DIY bitcoin entropy 1:21:50 - Was the COLDCARD hack an inside job? 1:28:24 - Rethinking responsible disclosure in the AI era 1:35:12 - How vulnerable is the Lightning Network to AI? 1:37:25 - Will agents choose bitcoin or create something new? 1:42:45 - White-hat hacking, recovery and property rights 1:54:48 - Spiral’s idea for a neutral protocol for multi-vendor wallet security SHOW NOTES: PB Media Archive: https://pbarchive.ai/ COLDCARD PBJ: https://youtube.com/live/cSXOmwI38Jo?feature=share

0:00 - The COLDCARD hack: bitcoin’s worst security incident ever? 4:30 - What happened and how thefts were identified 7:04 - The random-number failure behind the hack 13:24 - The right way to generate wallet entropy (i.e., dice rolls) 20:45 - Who is affected and what users should do 31:43 - Custody options and why diversification matters 37:37 - The source-license change behind the COLDCARD bug 40:33 - How AI changes open-source security audits 52:30 - How the community can limit further theft 59:56 - Why patches cannot fix keys and recovering stolen bitcoin 1:10:37 - Does AI strengthen the case for custodians? 1:16:30 - Future of self-custody 1:21:43 - Evaluating Bitkey, Ledger, Trezor and multisig post-COLDCARD 1:31:04 - ETFs, custodians and new transparency standards SHOW NOTES: PBJ custody survey episode: https://www.youtube.com/watch?v=OSanv5Z-DA4 Block COLDCARD blog post: https://engineering.block.xyz/blog/predictable-rng-fallback-and-32-bit-reseed-in-coldcard-firmware

0:00 - Opening banter, Nostr momentum & voice-first computing 7:21 - Presidio Bitcoin’s visiting member program 10:30 - Bitcoin Security Consortium: quantum preparedness, tradeoffs & independent funding 26:07 - Buzz launches to strong early adoption 35:53 - Buzz’s Nostr architecture and user-owned identity 48:28 - Can Anthropic or OpenAI copy Buzz? 53:24 - Buzz onboarding, local agents & security tradeoffs 1:03:37 - Learning through shared agents and 15-minute hackathons 1:07:54 - Mesh LLM and bitcoin-powered agent onboarding 1:18:52 - Wavelength and the growing Ark ecosystem 1:27:08 - Foundry’s BIP 110 vote and Stratum V2 1:37:20 - Nostr web of trust for humans and agents 1:41:10 - DK's treasure hunt progress and AI-assisted mysteries

0:00 Making music with AI and the limits of today’s models 3:21 - Latent spaces & the future of creativity 8:04 - Will AI surpass human curiosity? 12:54 - Using AI to rediscover the ancient past 18:23 - How AI is transforming real-world treasure hunting 33:09 - Using Buzz and agents to solve unsolved mysteries 42:32 - Project Loupe’s early success and who should it scan next? 48:07 - Which projects deserve Loupe's audits? 1:08:20 - What Stripe could gain by acquiring PayPal 1:09:56 - Bitcoin’s worsening performance against gold 1:15:51 - Kimi K3, the open-weight AI race, and what it means for frontier AI labs

0:00 - World Cup fallout and opening banter 5:23 - Goose Development Kit (GDK) week at Presidio Bitcoin 9:29 - Why Spiral is expanding into AI & how it helps bitcoin 19:01 - GDK’s near-term roadmap and Mesh LLM 25:52 - Combining open and frontier AI models 33:20 - Preventing data leaks between AI models 38:02 - Anthropic's possible window into how AI models think 42:24 - How Goose connects apps, agents, and models 47:36 - Subscription pricing versus open agent ecosystems 54:37 - Can bitcoin support a global naming system? (the data-availability challenge) 1:03:10 - Who decides which bitcoin name is valid? 1:11:48 - Merkle batching and the hidden-name problem 1:21:00 - Can auctions work if the data stays hidden? 1:29:00 - Applying bitcoin’s peer-to-peer model to names 1:32:53 - Should bitcoin names use its own blockchain? SHOW NOTES: Goose: https://goose-docs.ai/ Spiral: https://spiral.xyz/ Spiral x AI announcement substack: https://spiralxyz.substack.com/p/spiral-x-goose-the-best-is-yet-to Presidio Bitcoin GDK event recording: https://www.youtube.com/watch?v=m7NGzb8m0nk

0:00 Summer camp. Teaching DK what the World Cup is. Steve visits the PBJ Remote studio. 13:52 What is Goose & the alpha of what's to come with open source AI 20:40 The kinds of things Goose Development Kit enables 33:10 Come and meet the Goose team at PB next Wednesday! 39:26 DK's experience using Buzz as a great example of the ACP standard and using Nostr 54:22 Steve's take on how Buzz changes open source software development 1:04:46 Max's Claude pilling moment, and it becoming more paternalistic over time 1:10:05 Compute constraints causing strange market dynamics 1:13:03 OUSD Stablecoin and its effects on Circle, Tether, and the broader market 1:27:58 Quick comment on Strategy, MSTR & STRC, and its long-term outlook SHOW NOTES Join us on Jamchat.fun

0:00 World Cup chatter, DK searching for sports on Google, Good times on Jamchat.Fun 6:05 Recap of the Local AI Builder last night here at Presidio Bitcoin. Tom's local AI setup and how he's using it. 15:05 A watershed moment when Fable received export control from the US government 20:12 Is this like the Satoshi moment for banking in 2008 for AI in 2026? 28:23 Presidio Bitcoin's Open Source AI Summit this September! 36:25 Do you still have a business if everything is built on an AI platform? What's the moat? 40:25 Takes on SpaceX as an AI company post-Cursor buy. Launch is still unique. 47:12 Elon says regulation is the hurdle to getting more solar on Earth, which is why he's going to space 50:56 Bitcoin Forks, working on Bitcoin Core, and how updates happen 1:06:22 What is the timeline for these activities? 1:12:20 Touching on Drive Chain, Quantum, BIP 110, & BIP 361 1:18:42 What is the Paul Sztorc eCash hard fork? First one in 9 years? 1:23:53 Illinois signed into law a transfer tax for digital asset moves like Bitcoin 1:28:15 US Sovereign Wealth Fund buying, or taking, AI company equity as they did with Intel? SHOW NOTES: https://opensourceaisummit.org/ https://tomtunguz.com/

0:00 We keep getting requests to talk about basketball. What about the World Cup? 7:40 The future of livestreaming is https://jamchat.fun/ 15:30 Unveiling Buzz, an open source project, for AI native communications built on Nostr 25:26 Bitcoin is open source money, Nostr is open source identity 31:13 To summarize, Buzz brings together agents to collaborate; multiplayer & multiagent workflows 36:11 Extending Buzz functionality with a Lexe wallet integration for bitcoin payments 40:30 What is the future of the corporate structure with autonomous agents and AI personhood? 53:29 Anthropic's Fable 5 drama, what is going on? 1:00:25 What is the best approach for AI deployment? 1:07:34 We're most excited about really good open models & layers coming to the market 1:09:52 Bark launches on mainnet as a bitcoin layer 2, and comparing it to Lightning 1:21:44 Will interoperable decentralized money matter more to agents than humans? 1:26:55 Feedback from last show, Surge uses USDC on Base, and what is the Ethereum vs. Base value proposition? SHOW NOTES: Max's Article on Nostr Identity https://www.hivemind.vc/identity

00:00 Welcome back (we missed a week) 00:56 The Cash App Wand: tap-to-pay NFC device that sold out in 10 hours 09:07 Surge: a self-custody, no-KYC bitcoin-backed credit line 16:07 The Taproot design and how Surge uses it 21:28 How Surge tackles the oracle & liquidation problem 28:08 Base/Ethereum dependence, MPC & the signer network (Surge's lender side) 37:34 Borrowing against your bitcoin to buy AI stocks instead of selling 38:41 Cash App's USDC integration 51:14 Living design docs, AI-native shows & project constitutions 54:24 Is AI sucking liquidity out of bitcoin? 1:00:00 The IPO wave and the AI bubble debate 1:06:00 The Zcash crash: Opus uncovers an inflation bug 1:07:55 Privacy vs. auditable supply, and why this can't happen to bitcoin 1:11:19 Turnstiles & Orchard: can Zcash actually recover? 1:14:22 AI vs. software security & Spiral's Project Loupe 1:23:40 Cloudflare: AI agents overtake humans in web requests 1:27:32 Wrap-up & teasers (Spiral's AI work, NVIDIA, Sprout)

0:00 Getting off Twitter, losing passwords, and staying up to date with Stackernews 4:30 Why we find the Strategy conversation interesting, and we will still cover basketball 7:11 Can MSTR blow up? Unpacking the claim that Saylor is a new SBF 13:34 What are the outcomes and probabilities of Bitcoin and MSTR's future 21:00 How much does bitcoin need to grow to support MSTR's credit products? 25:00 Is the biggest risk Coinbase and its custodians or esoteric DeFi demand? 32:15 What's the investment thesis of holding MSTR vs STRC? 41:40 Finding new products from the synthesis of old concepts 45:41 Using Proof of Work for hot tubs creates a security issue? 55:55 Bigger picture and putting into context the security budget for bitcoin 1:05:27 Is this a design flaw of bitcoin? 1:11:40 Underlying issue is we don't know what the annual security budget should be. 1:21:00 What are the attack vectors to Bitcoin from a non-economic actor, like a nation-state? SHOW NOTES: Transaction Fee Paper (Budish, 2024) https://socialsciences.uchicago.edu/sites/default/files/2024-09/Economic%20Limits%20Crypto%20Blockchains%20-%20QJE%20Sept%202024.pdf