Bitcoin’s Governance Illusions and Block Space Reality
The January 06, 2026 episode of Supply Shock features John Carvalho arguing that many Bitcoin governance disputes mistake social coordination battles for protocol control.
Read the analysisResearch area
Supply Shock podcast
Innovation, Fees, and Governance Stress in Bitcoin’s Next Phase
The December 16, 2025 episode of the Supply Shock podcast features Jameson Lopp arguing that Bitcoin’s institutional turn is reshaping market cycles and weakening the historical link between price action and on-chain fee demand.
Read the analysis
Bitcoin’s Legal Crisis, Network Liability Narratives, & Node War
The December 02, 2025 episode of Supply Shock features Joakim Book, Aaron van Wirdum, and Shinobi analyzing Nick Szabo’s claim that Bitcoin is merely “trust-minimized” and increasingly exposed to legal risk from arbitrary data.
Read the analysis
Reigniting Bitcoin’s Utility: Fees, Governance, and Competitive Layer-2s
The October 21, 2025 episode of Supply Shock features Paul Sztorc arguing that durable security requires fee-backed usage, not custodial abstractions or marketing narratives.
Read the analysis
From $10 Coins to a Global Bitcoin Mining Arms Race
The November 20, 2025 episode of Supply Shock features Bill Tai and George Kikvadze recounting how Bitfury grew from a scattered engineering collective into one of the first industrial-scale Bitcoin miners.
Read the analysis
Emergency Soft Fork Politics and Bitcoin’s Neutrality
The November 18, 2025 episode of Supply Shock features host Pete Rizzo with Rob Hamilton, Joakim Book, and Aaron van Wirdum dissecting an “emergency” soft fork campaign emerging from a private Telegram channel.
Read the analysis
BIP-444, Neutral Blockspace, and Bitcoin Fork Risk
The November 06, 2025 episode of Supply Shock features a panel assessing BIP-444’s attempt to restrict certain data patterns through a time-limited Bitcoin soft fork.
Read the analysis
Bitcoin Spam Mitigation and Consensus Trade-offs
The October 14, 2025 episode of Supply Shock features Pierre Rochard arguing that Bitcoin should raise the cost of non-monetary data at the consensus layer. He favors removing OP_RETURN and limiting Taproot input sizes to reduce node burdens and fee distortions.
Read the analysis
Institutional Flows and a 2026–2027 Bitcoin Cycle
The October 09, 2025 episode of Supply Shock features Mike Alfred arguing that institutional rails and constrained issuance can extend this cycle into 2026–2027.
Read the analysis
Bitcoin Core Policy, Mempool Diversity, and Fork Risk
The October 07, 2025 episode of Supply Shock features Mike Schmidt examining Bitcoin Core v30 policy shifts and their network effects.
Read the analysis
Bitcoin-Backed Credit and the Rise of Self-Custody Finance
The October 02, 2025 episode of Supply Shock features Shehzan Maredia outlining a self-custody approach to collateralized dollar credit and everyday spend.
Read the analysis
Money Printing, Yield Caps, and Bitcoin’s Strategic Position
The September 30, 2025 episode of Supply Shock features Arthur Hayes outlining how coordinated Fed–Treasury actions could cap yields and extend monetary expansion.
Read the analysis