Supply Shock

Latest Episodes:

The Truth About Jack Dorsey & Satoshi Nakamoto | Jameson Lopp Feb 27, 2025

Show notes

In the first official episode of Supply Shock, Jameson Lopp joins the show to explain why Jack Dorsey is NOT Satoshi, threat vectors for Bitcoiners, and security prevention strategies to protect yourself. We also delve into attacker stories, how Jameson protects his own financial and physical security, and more. Enjoy!

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Follow Jameson Lopp: https://x.com/lopp

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The Bitcoin Historian Newsletter: https://bitcoinhistorynewsletter.com/

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Join us at Digital Asset Summit 2025 March 18th - 20th. USE CODE SHOCK10 FOR 10% OFF general admission!

https://blockworks.co/event/digital-asset-summit-2025-new-york

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Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer.

Join Ignition and get onchain: https://ignition.coredao.org/?utm_source=blockworks&utm_medium=podcast&utm_campaign=blockworks

Stake your Bitcoin with Core: https://stake.coredao.org/?utm_source=blockworks&utm_medium=podcast&utm_campaign=blockworks

Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com.

Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing.

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Timestamps:

(00:00) Introduction

(01:01) Is Jack Dorsey Satoshi Nakamoto?

(05:50) Debunking the Jack-Satoshi Theory

(13:04) Ads (Core, Ledger, Ledn)

(14:38) Debunking the Jack-Satoshi Theory (Con't)

(31:00) The Threat Vectors for Bitcoiners

(31:39) Ads (Core, Ledger, Ledn)

(33:44) The Threat Vectors for Bitcoiners (Con't)

(37:04) Mitigating Security Risks

(49:19) Rapid Fire Questions

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Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Introducing: Supply Shock with The Bitcoin Historian Feb 27, 2025

Show notes

A new chapter starts today. On the Margin is becoming a new show: Supply Shock, covering all things Bitcoin. Felix is back in the host seat for one last episode, passing the baton to Supply Shock's new host, Pete Rizzo AKA the Bitcoin Historian. They discuss Rizzo's deep lore, sovereign adoption of Bitcoin, and the state of Bitcoin innovation. They also delve into the rise of meme coins, the industry’s future, and more. Enjoy and check out the first full episode of Supply Shock with Jameson Lopp - it's already in the feed!

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Follow Rizzo: https://x.com/pete_rizzo_

Follow Felix: https://x.com/fejau_inc

Follow Supply Shock: https://twitter.com/SupplyShockBW

Follow Blockworks: https://twitter.com/Blockworks_

The Bitcoin Historian Newsletter: https://bitcoinhistorynewsletter.com/

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Join us at Digital Asset Summit 2025 March 18th - 20th. USE CODE SHOCK10 FOR 10% OFF general admission!

https://blockworks.co/event/digital-asset-summit-2025-new-york

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Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer.

Join Ignition and get onchain: https://ignition.coredao.org/?utm_source=blockworks&utm_medium=podcast&utm_campaign=blockworks

Stake your Bitcoin with Core: https://stake.coredao.org/?utm_source=blockworks&utm_medium=podcast&utm_campaign=blockworks

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Timestamps:

(00:00) Introduction

(01:04) New Show & New Host: Pete Rizzo

(04:19) Bitcoin's Historical Significance

(07:16) Sovereign Adoption and Bitcoin's Global Impact

(13:17) Ads (Core, Ledger, Ledn)

(14:49) Sovereign Adoption and Bitcoin's Global Impact (Con't)

(25:56) Ads (Core, Ledger, Ledn)

(28:02) Innovations and Challenges in Bitcoin

(33:40) The Future of Bitcoin and Crypto

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On the Margin: Trading Crypto's Weekend Meltdown | 1000x Feb 04, 2025

Show notes

This week, we discuss crypto's liquidation event over the weekend and how to trade the upcoming week. We deep dive into the weak performance of altcoins, Bitcoin's role in a multipolar world, shorting in this market environment & more. Enjoy!

Go follow the new 1000x feed to keep up to date with all new episodes!

Spotify: https://blckwrks.co/3WADHnL

Apple: https://blckwrks.co/4aEt5u0

Follow Avi: https://twitter.com/AviFelman

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Join the 1000x Telegram: https://t.me/+fz-2f0cwC6o0MWNh

Kraken OTC unlocks premium, personalized services for high-net worth individuals and institutional clients to execute large orders. Trade over chat or access our self-service automated trading feature to receive executable quotes in seconds. Get 24/7 access to private and secure trading services and deep liquidity for competitive execution. Get in touch today: kraken.com/blockworks

Availability of products may vary by jurisdiction. Not investment advice. Crypto trading involves risk of loss and is offered to US customers (excluding WA, NY and ME) through Payward Interactive, Inc.

Ledger, the world leader in digital asset security, proudly sponsors Empire podcast. Celebrating 10 years of protecting over 20% of the world’s crypto, Ledger ensures the security of your assets.

For the best self-custody solution in the space, buy a LEDGER™ device and secure your crypto today.

Buy now at Ledger.com

Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/

(00:00) Introduction

(00:57) Carnage In Crypto

(04:21) Shorting This Market

(13:57) Ads (Kraken OTC and Ledger)

(15:00) When To Buy This Market?

(19:29) WIF

(23:48) Privacy Coins

(27:26) What's Next For Markets?

(39:05) Ads (Kraken OTC and Ledger)

(40:44) Bitcoin In A Multipolar World

(50:16) The AI Trade

Disclaimer: Nothing said on 1000x is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Avi, Jonah and our guests may hold positions in the companies, funds, or projects discussed

On the Margin: The Future Of Crypto & Stablecoins Under Trump | Austin Campbell Jan 30, 2025

Show notes

In this episode, Austin Campbell joins the show to discuss stablecoin regulation under the Trump administration, the impact of Trump's executive orders on the crypto ecosystem, and the case against a strategic bitcoin reserve. We also delve into the potential for a more cooperative regulatory environment, global adoption of stablecoins, and much more. Enjoy!

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Follow Austin Campbell: https://x.com/CampbellJAustin

Follow Felix: https://x.com/fejau_inc

Follow On The Margin: https://twitter.com/OnTheMarginPod

Follow Blockworks: https://twitter.com/Blockworks_

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Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission!

https://blockworks.co/event/digital-asset-summit-2025-new-york

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Ledger, the global leader in digital asset security, proudly sponsors On The Margin. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com.

MANTRA is a purpose-built RWA Layer 1 blockchain capable of adherence and enforcement of real world regulatory requirements. As a permissionless chain, MANTRA empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.

Key Features:

Built using Cosmos SDK, IBC compatible, with CosmWasm supported

Secured via a sovereign PoS validator set

Scalable up to 10k TPS

Built-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAs

Improved User Experience to onboard non-native users and institutions to Web3

Learn more: https://www.mantrachain.io/

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Timestamps:

00:00 Introduction

00:35 Stablecoin Regulation Updates Post-Election

03:27 Congressional Bills and Bipartisan Efforts

06:29 Executive Orders and David Sacks’ Role

14:42 SEC vs. CFTC: Regulatory Shifts

19:24 Global Adoption and Future of Stablecoins

26:20 Debate on Strategic Bitcoin Reserve

35:52 Bitcoin's Role and Future Projections

40:58 Closing Thoughts

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Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

On the Margin: The Fed’s Tools Aren’t Made For Fiscal Dominance | Lyn Alden Jan 23, 2025

Show notes

In this episode, Lyn Alden joins the show to discuss the economic tensions from fiscal dominance, the major factors driving liquidity, and what to expect under the Trump presidency. We also delve into the dollar wrecking ball, the outlook for Bitcoin, and much more. Enjoy!

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Follow Lyn Alden: https://x.com/LynAldenContact

Follow Felix: https://x.com/fejau_inc

Follow On The Margin: https://twitter.com/OnTheMarginPod

Follow Blockworks: https://twitter.com/Blockworks_

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Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission!

https://blockworks.co/event/digital-asset-summit-2025-new-york

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Key Features:

Built using Cosmos SDK, IBC compatible, with CosmWasm supported

Secured via a sovereign PoS validator set

Scalable up to 10k TPS

Built-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAs

Improved User Experience to onboard non-native users and institutions to Web3

Learn more: https://www.mantrachain.io/

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Timestamps:

(00:00) Introduction

(00:31) Global Macro Outlook

(02:31) Liquidity Conditions

(08:44) Shifting Treasury Issuance

(12:04) Ads (Ledger, Mantra)

(13:11) Tensions Under Fiscal Dominance

(18:32) Trump Fiscal Outlook

(22:44) Cutting Rates To Zero

(27:38) Energy Outlook

(32:04) Ads (Ledger, Mantra)

(33:36) Interview Continues

(35:45) Trump Vs Reagan Approach

(37:41) Dollar Wrecking Ball

(42:45) Currency Negotiations

(45:39) Bitcoin Big Picture

(50:00) Gold Outlook

(52:18) Bitcoin Outlook

(54:31) Learn More About Lyn’s Work

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On the Margin: 2025's Crypto ETF Pipeline | James Seyffart Jan 16, 2025

Show notes

In this episode, James Seyffart joins the show to discuss the wild success of crypto ETFs, how allocators and holders are thinking about crypto ETFs, and all the future ETF filings in the pipeline. We also delve into the impact of ETF options on the crypto market, the ETF gap risk, and much more. Enjoy!

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Follow James Seyffart: https://x.com/JSeyff

Follow Felix: https://x.com/fejau_inc

Follow On The Margin: https://twitter.com/OnTheMarginPod

Follow Blockworks: https://twitter.com/Blockworks_

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Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission!

https://blockworks.co/event/digital-asset-summit-2025-new-york

—

Key Features:

Built using Cosmos SDK, IBC compatible, with CosmWasm supported

Secured via a sovereign PoS validator set

Scalable up to 10k TPS

Built-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAs

Improved User Experience to onboard non-native users and institutions to Web3

Learn more: https://www.mantrachain.io/

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Timestamps:

(00:00) Introduction

(02:24) Bitcoin ETF Anniversary

(06:29) Evolving Allocator Perspective

(10:50) Largest ETF Buyers

(14:40) BTC Spot-Futures Arbitrage

(16:46) ETH ETFs

(19:58) Ethereum Narrative Problem

(21:13) New ETF Filings

(26:16) Ads

(27:50) Impact Of Options On Crypto

(30:52) Crypto Narratives To Drive Demand

(33:29) Potential Altcoin ETF Filings

(38:38) ETF Gap Risk

(41:12) Basket ETFs

(46:17) 2025 Outlook

(49:48) DAS 2025

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On the Margin: FLASH UPDATE: The Dollar Rally Isn’t Over — What It Means For Risk Assets | Joe McCann Jan 08, 2025

Show notes

In this episode, Joe McCann joins the show to discuss why he’s tactically bearish, the US dollar’s implications for risk assets, and his crypto shopping list. We also delve into bottom signals, the outlook for 2025, and much more. Enjoy!

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Follow Joe McCann: https://x.com/joemccann

Follow Felix: https://x.com/fejau_inc

Follow On The Margin: https://twitter.com/OnTheMarginPod

Follow Blockworks: https://twitter.com/Blockworks_

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Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission!

https://blockworks.co/event/digital-asset-summit-2025-new-york

—

Key Features:

Built using Cosmos SDK, IBC compatible, with CosmWasm supported

Secured via a sovereign PoS validator set

Scalable up to 10k TPS

Built-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAs

Improved User Experience to onboard non-native users and institutions to Web3

Learn more: https://www.mantrachain.io/

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Timestamps:

(00:00) Introduction

(01:12) Macro & Crypto Overview

(09:19) Implications Of Hawkish Fed

(12:54) Inauguration & The US Dollar

(18:01) Ads

(19:35) Crypto Market Outlook

(23:34) Strategic Bitcoin Reserve

(26:30) Crypto Shopping List

(31:56) Bottom Signals

(35:47) 2025 Outlook

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On the Margin: Debating The Impact Of A Bitcoin Strategic Reserve | Travis Kling Dec 23, 2024

Show notes

In this episode, Travis Kling joins the show to discuss financial nihilism, the logistics of a Bitcoin strategic reserve, and the potential impact of the incoming administration. We also delve into the crypto market outlook, product market fit across the industry, and much more. Enjoy!

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Follow Travis Kling: https://x.com/Travis_Kling

Follow Felix: https://x.com/fejau_inc

Follow On The Margin: https://twitter.com/OnTheMarginPod

Follow Blockworks: https://twitter.com/Blockworks_

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Key Features:

Built using Cosmos SDK, IBC compatible, with CosmWasm supported

Secured via a sovereign PoS validator set

Scalable up to 10k TPS

Built-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAs

Improved User Experience to onboard non-native users and institutions to Web3

Learn more: https://www.mantrachain.io/

—

Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission!

https://blockworks.co/event/digital-asset-summit-2025-new-york

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Timestamps:

(00:00) Introduction

(01:32) Macro Outlook

(06:26) Philosophical Vibe Shift

(11:51) Financial Nihilism

(15:52) Unpacking The Next Administration

(19:24) Misaligned Incentives

(22:35) Ads

(23:59) Bitcoin Strategic Reserve

(36:51) BSR & The US Dollar

(45:42) Crypto Market Outlook

(48:40) Crypto Product Market Fit

(53:53) Fundamentals Bearish?

(55:42) Learn More About Travis’ Work

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On the Margin: This Is Peak Hawkishness From The Fed | Joseph Wang Dec 18, 2024

Show notes

In this special crossover episode with Forward Guidance, Joseph Wang joins the show to discuss the latest Fed decision, its December economic projections, and what to expect from markets going into 2025. We also delve into why he expects way more than two rate cuts next year, why he’s bearish on US equities in 2025, and much more. Enjoy!

Follow Joseph Wang: https://x.com/FedGuy12

Follow Felix: https://x.com/fejau_inc

Follow On The Margin: https://twitter.com/OnTheMarginPod

Follow Blockworks: https://twitter.com/Blockworks_

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Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission!

https://blockworks.co/event/digital-asset-summit-2025-new-york

—

Key Features:

Built using Cosmos SDK, IBC compatible, with CosmWasm supported

Secured via a sovereign PoS validator set

Scalable up to 10k TPS

Built-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAs

Improved User Experience to onboard non-native users and institutions to Web3

Learn more: https://www.mantrachain.io/

—

Timestamps:

(00:00) Introduction

(02:26) Hawkish FOMC Conference

(06:03) Immigration Impact

(09:32) 2025 Surprises

(12:16) Trump, Trade, & Tariffs

(14:43) What Is The Fed Thinking?

(20:07) Peak Hawkishness

(21:41) Long-Term Rates

(23:07) SEP As A Psychological Tool

(25:16) Ads

(26:41) Fed Surveys & Politics

(28:29) The Neutral Rate

(30:27) How The Fed Gauges Restrictiveness

(32:11) Reverse Repo

(37:52) Treasury Coupon Issuance

(39:38) Equities & The Dollar

(43:15) Gold & Crypto

(45:07) Long Bonds, Commodities, & Inflation

(49:42) Main Takeaways

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On the Margin: Convertible Bond Expert Breaks Down Why MicroStrategy Is Soaring | Richard Byworth Dec 10, 2024

Show notes

In this episode, Richard Byworth joins the show to discuss MicroStrategy’s convertible bond strategy, the biggest MicroStrategy misconceptions, and why he thinks the premium to NAV should expand over time. We also delve into MicroStrategy's concept of Bitcoin Yield, the risks and opportunities of Saylor’s strategy, and much more. Enjoy!

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Follow Richard Byworth: https://x.com/RichardByworth

Follow Felix: https://x.com/fejau_inc

Follow On The Margin: https://twitter.com/OnTheMarginPod

Follow Blockworks: https://twitter.com/Blockworks_

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Key Features:

Built using Cosmos SDK, IBC compatible, with CosmWasm supported

Secured via a sovereign PoS validator set

Scalable up to 10k TPS

Built-in Modules, SDKs and APIs to create, trade and manage regulatory compliant RWAs

Improved User Experience to onboard non-native users and institutions to Web3

Learn more: https://www.mantrachain.io/

—

Join us at Digital Asset Summit 2025 March 18th - 20th. Use code MARGIN10 for 10% off general admission!

https://blockworks.co/event/digital-asset-summit-2025-new-york

—

Timestamps:

(00:00) Introduction

(01:50) Richard Byworth And Convertible Bonds

(09:45) MicroStrategy’s Convertible Bond Strategy

(15:28) Accretive Dilution & The Value Of A Convertible Bond

(21:13) Breaking Down The Convertible Bond Trade

(27:07) Ads

(28:42) Risks & Opportunities In MicroStrategy’s Strategy

(36:55) Bitcoin Yield & Bitcoin Per Share

(38:28) Leveraged Upside And Downside

(42:47) MicroStrategy Index Inclusion

(44:06) Biggest MicroStrategy Misconceptions

(49:09) Impact Of Levered MSTR ETFs

(51:52) The Changing Market Paradigm

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