Bitcoin Magazine Podcast

Is Strategy actually doing nothing or is digital credit the product? This episode analyzes Strategy’s Q4 2025 earnings call and explains why its perpetual preferred equity avoided margin calls, liquidations, and maturity risk. Pierre Rochard and Spencer Nichols break down why digital credit products like Stretch held near par while bitcoin drew down sharply. From credit ratings and cash buffers to Bitcoin-backed lending and quantum risk, this episode reframes what a Bitcoin treasury company really is.
🔶 Connect with Pierre Rochard on X: https://x.com/BitcoinPierre
🔶 Connect with Spencer Nichols on X: https://x.com/DeSpencer_
🔶 Follow Bitcoin For Corporations X:https://x.com/BitcoinForCorps
🔶 Learn more about Bitcoin For Corporations - the executive network for corporate bitcoin adoption: https://b.tc/corporations
Chapters:
00:00 – Why Strategy’s Digital Credit Is the Real Product
05:00 – Bear-Market Stress Testing Without Margin Calls
10:00 – Bank Credit vs Non-Bank Credit Explained
15:00 – Bitcoin-Backed Lending and Institutional Demand
20:00 – STRC vs bitcoin: Volatility and Yield
25:00 – Who These Products Are Actually For 3
0:00 – Ideology vs Adoption in Bitcoin Finance
35:00 – Strategy’s Plan to Increase Bitcoin Per Share
40:00 – Rates, Liquidity, and the AI Macro Backdrop
45:00 – Quantum Risk, Consensus, and “Don’t Panic”
50:00 – Security, Governance, and Bitcoin’s Upgrade Path
55:00 – What This Means for Bitcoin’s Financial Future
#Bitcoin #MichaelSaylor #BitcoinTreasury #BitcoinForCorporations #Strategy #DigitalCredit #BitcoinFinance #CorporateBitcoin #BitcoinAdoption #BitcoinCapitalMarkets #BitcoinYield #BitcoinCredit #BitcoinConference #BitcoinMagazine #InstitutionalBitcoin
DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

The Bitcoin Kernel project is one of the most misunderstood developments in Bitcoin Core. In this conversation, Shinobi and Sedited explain how isolating validation logic increases flexibility, improves security, and enables alternative node implementations. From multi-process architecture to formal protocol specifications, this episode covers why kernel development matters now.
#Bitcoin #BitcoinDevelopment #BitcoinCore
⭐️⚔: SIGN UP WITH DUELBITS TODAY FOR A CHANCE TO WIN UP TO 2 BTC: 👉 https://bm.b.tc/YT-Duelbits #ad
🔶 Shinobi - Technical Editor, Bitcoin Magazine🔶 Sedited – Bitcoin Core Developer
Chapters: 00:00 – Why Bitcoin Consensus Isolation Matters
04:58 – Why "libconsensus" Failed
08:01 – Kernel vs Multi-Process Bitcoin Core
10:55 – Can Developers Build Full Nodes With the Kernel Today? 12:25 – Real-World Kernel Adoption Outside Bitcoin Core
14:05 – How Bitcoin Kernel Validates Blocks
16:26 – Does the Kernel Centralize Power?
19:41 – Competition, Forking, and Consensus Safety
21:19 – Could Bitcoin Ever Have a Formal Specification?
24:29 – The Future of Bitcoin Kernel Development
#BitcoinKernel #ConsensusRules #BitcoinProtocol #NodeImplementations #BitcoinEngineering #BitcoinMagazine #OpenSourceBitcoin #DecentralizedSystems #BitcoinValidation #BitcoinInfrastructure #BitcoinBuildersDISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

Cluster mempool is more than a code refactor, it’s a fundamental rethink of how Bitcoin handles transactions. Pieter Wuille breaks down how grouping related transactions into clusters solves long-standing computational and incentive problems. Shinobi connects the dots between mempool behavior, miner incentives, and future Bitcoin development.#Bitcoin #BitcoinCore #ClusterMempool ⭐️⚔: SIGN UP WITH DUELBITS TODAY FOR A CHANCE TO WIN UP TO 2 BTC: 👉 https://bm.b.tc/YT-Duelbits #ad 🔶 Shinobi - Technical Editor, Bitcoin Magazine🔶 Pieter Wuille — Researcher, Chaincode LabsChapters: 00:00 — Why Bitcoin’s Mempool Has Been Broken 02:10 — The Core Problem with Transaction Ordering 04:05 — Why Eviction Logic Failed Under Load 06:00 — The Limits of Heuristics in Bitcoin Core 08:20 — Replace-By-Fee and Incentive Compatibility 11:40 — Why Recomputing the Entire Mempool Is Impossible 14:00 — Introducing Clusters and the 64-Transaction Limit 17:00 — How Cluster Mempool Enables Optimal Ordering 20:05 — Future-Proofing Bitcoin for New Use Cases 24:30 — Incentives, Miners, and the Long-Term Bitcoin Path#PieterWuille #ChaincodeLabs #BitcoinDevelopment #Mempool #BitcoinFees #RBF #BitcoinMining #Layer2 #LightningNetwork #BitcoinInfrastructure #BitcoinMagazine #BitcoinConferenceDISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

What does it really take to contribute to Bitcoin Core? Matthew Zipkin sits down with Shinobi to explain how challenge-based education filters for developers who understand Bitcoin from the ground up. This episode covers peer learning, protocol literacy, and why simply “knowing code” isn’t enough. Bitcoin’s robustness depends on developers like these.#BitcoinDevelopment #BitcoinCore #OpenSourceBitcoin ⭐️⚔: SIGN UP WITH DUELBITS TODAY FOR A CHANCE TO WIN UP TO 2 BTC: 👉 https://bm.b.tc/YT-Duelbits #ad 🔶 Shinobi - Technical Editor, Bitcoin Magazine🔶 Matthew Zipkin - Core Developer, Chaincode LabsChapters: 00:00 – Introducing Bitcoin developer challenge programs 01:05 – Why Bitcoin Core education isn’t traditional schooling 02:15 – Filtering developers through real protocol challenges 03:10 – Why low-level Bitcoin details actually matter 04:20 – Using Bitcoin as a prerequisite for contribution 05:30 – Peer-to-peer learning in Bitcoin developer communities 06:45 – Why open-source collaboration filters for quality 07:55 – Application funnels and developer drop-off realities 09:05 – What happens to developers who don’t finish 10:30 – Why Bitcoin’s future depends on programs like this 14:00 – Final thoughts on Bitcoin development and education#Bitcoin #BitcoinDevs #BitcoinEducation #BitcoinProtocol #BitcoinEngineering #BitcoinBuilders #BitcoinInfrastructure #BitcoinConference #BitcoinMagazineDISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

Bitcoin Core doesn’t stand still even if consensus rules don’t change. In this episode, Stéphan (Core Developer at Brink) explains how the Kernel and multiprocess projects are reshaping Bitcoin Core for long-term reliability. From modular validation logic to safer development workflows, this conversation shows why maintenance work matters. Hosted by Shinobi of Bitcoin Magazine.#BitcoinCore #BitcoinDevelopment #BitcoinKernel ⭐️⚔: SIGN UP WITH DUELBITS TODAY FOR A CHANCE TO WIN UP TO 2 BTC: 👉 https://bm.b.tc/YT-Duelbits #ad 🔶 Shinobi - Technical Editor, Bitcoin Magazine🔶 Stéphan- Core Developer at BrinkChapters: 00:00 – Introduction to Bitcoin Core & Kernel Project 02:05 – Why Moving Consensus Code Is So Risky 04:00 – Public Interfaces and Real-World Use Cases 06:00 – Tooling, CI, and Developer Experience 07:20 – Multiprocess Architecture Explained 09:00 – Mining Interfaces and Stratum V2 11:00 – Why Bitcoin Core Must Evolve 13:00 – Validation, Testing, and Fuzzing 15:10 – Cross-Module Complexity in Core 17:40 – Long-Term Maintenance vs New Features 20:10 – Building Bitcoin for the Next Decades 22:30 – Closing Thoughts on Bitcoin Core’s Future#BitcoinMining #StratumV2 #BitcoinInfrastructure #BitcoinSoftware #OpenSourceBitcoin #BitcoinEngineering #BitcoinMagazine #BitcoinConference #BitcoinNodes #BitcoinSecurityDISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.