Phil

Sharing thoughts on BTC, Finance, CrossFit, Atl Braves

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Last Notes

2026-03-19 16:35:19 UTC

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Agreed

2026-03-18 19:41:35 UTC

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I’ve met Chris Bledsoe and his family. I found them all to be honorable, honest and open. Who knows what happened with these visions, but 2026 has definitely been interesting so far.

2026-03-15 00:21:13 UTC

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Btw, based on your rec I ordered 12 lbs of mixed dates from The Date People that have been fantastic. I’m still working on them. Also, the nicest people. Sent me the dates before receiving payment, asked that we mail them a check once we received them in good condition. You don’t see that much!

2026-03-15 00:17:34 UTC

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Co-sign

2026-02-28 12:51:43 UTC

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Did anyone say this? She had plenty of weaknesses specific to her. I only remember Nikki Haley being called a neocon.
I think it’s easier to just criticize Trump on his own merits for completely breaching the platform on which he was elected (no new wars) and completely eroding his base’s trust (Epstein files). He’s cooked

2026-02-18 23:09:48 UTC

@nprofile…etq8 Jack, sincere question for you on XXI that I know you prbly can’t answer on here (would be great if you could answer on next Mailbag Monday).
The weekly “no updates” on XXI…it seems like an odd decision to have a public company with no current operating company and nothing you can really talk about. Was the decision to go public just a timing thing with the momentum(many months ago) for BTC Treasury Cos, and then with the general market pullback the thesis evolved to more of a focus on the ops?
Just seems odd to give these kind of continual updates for a public company. As you know, much easier to develop an operating company while private.
Genuinely curious and appreciate you.

2026-02-14 13:06:39 UTC

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No offense intended. I was just clarifying that if his thesis is that Bitcoiners should sell their Bitcoin and rotate to gold, accepting Bitcoin as payment makes sense and Bitpay would allow him to never touch bitcoin. Interestingly, it also simplifies his reporting to the IRS.

2026-02-14 03:22:19 UTC

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BitPay converts to dollars. Peter never receives Bitcoin

2026-02-06 23:02:05 UTC

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This is great to hear. Why aren’t more people talking about this

2026-02-06 22:49:52 UTC

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I thought I’d seen many big names that had partially implemented or were beginning: Apple, Microsoft, Google, Cloudflare, JPM Chase, etc.

2026-02-06 22:28:30 UTC

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Agreed, but I’ve heard a number of banking and defense datapoints about organizations already making these changes. I think that’s where people see the vulnerability. Doing anything like this in Bitcoin is hard by design, and no matter what it’s a hard fork with real trade offs somewhere (higher fees, slower, etc.). Doesn’t feel great with that kind of uncertainty overhang

2026-02-06 22:21:40 UTC

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One hard truth is that it’s much easier for a centralized company to switch a protocol to something quantum resistant. Much harder and slower for a decentralized network like Bitcoin, which creates vulnerability.

2026-02-06 09:19:01 UTC

This is a really tough and scary dynamic for people new to Bitcoin, but there’s literally NO PRICE that’s off the table at any given moment.
Bitcoin is priced of marginal demand. If Saylor’s or Satoshi’s coins come to market, we fall until all those coins find the marginal buyer.
But the inverse is true. This thing can also go up as fast as it goes down.
Best to mentally prepare yourself for both, and have a plan for what you’ll do.

2026-02-06 02:02:53 UTC

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What if Iran was selling Bitcoin to address dollar shortage
#nevent1q…8cqz

2026-02-06 00:24:55 UTC

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Literally every saying/theme/logic/analysis is broken. The most interesting question is, what comes next?

2026-02-05 21:46:32 UTC

Just put in my $58k buy orders, for the lulz

2026-02-05 12:57:34 UTC

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Agree completely

2026-01-31 20:16:49 UTC

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Wrong George Bush. The doc references his dad

2026-01-31 16:19:28 UTC

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So good!!! You’re ready

2026-01-31 15:41:16 UTC

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Gratitude!

2026-01-31 15:36:47 UTC

@nprofile…vpu2 hey Odell, what’s the name of that gold jewelry brand you mention occasionally on RHR that measures in oz and is run by a bitcoiner? Thanks in advance

2026-01-25 20:28:29 UTC

Been a while since I’ve heard a podcast with @nprofile…rdv0 . Would love to hear his opinion on this weird bear market

2026-01-24 02:20:28 UTC

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The sound money flight to precious metals is so depressing. I don’t think it’s so much the dollar price as it is that dynamic.

2026-01-23 16:44:40 UTC

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I’ve never felt more offsides

2026-01-22 15:08:59 UTC

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I must have missed that

2026-01-22 15:08:42 UTC

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Sorry, didn’t time stamp it

2026-01-22 15:00:59 UTC

@nprofile…zfv9 you should listen to latest WBD. Really strange, Cory K was discussing bitcoin treasury co’s and was clearly talking about XXI but wouldn’t mention you by name. You guys must have beef! He named Cantor, Tether and Softbank though

2026-01-21 13:53:17 UTC

Listened to the @nprofile…yl0q interview with Gromen and now ready to end it all.
In all seriousness, great job interviewing by Natalie and letting him roll. But man, the pessimism on bitcoin is unbelievable at the moment. Hope he’s wrong!

2026-01-20 10:01:29 UTC

Just being honest, every podcast or conversation about quantum makes me feel worse and more nervous about this potential future.
Everyone covering this either dismisses it too quickly (likely because it’s complicated), doesn’t have a good solution or describes such doomsday scenarios that I expect anyone listening would want to sell afterwards.
Is this really the thing that gets us?

2026-01-20 01:09:48 UTC

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I know, over $5T in market cap now. I remember feeling like it was a big deal when BTC surpassed silver’s market cap in 2024. Feels like ages ago and I never would have guessed we’d be here

2026-01-20 00:55:20 UTC

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Honestly, gold I understand due to central bank buying and size / history advantage. Silver is just a huge kick in the nuts though

2026-01-20 00:28:31 UTC

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It’s endlessly both puzzling and frustrating

2026-01-19 15:28:16 UTC

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So hopefully most of those coins are addressed in this way, and we’re talking 1-2 million coins at risk. Thanks

2026-01-19 15:23:51 UTC

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cc: @npub17nv…4u85

2026-01-19 15:19:00 UTC

@nprofile…fg9w enjoyed latest CD re quantum. On the reused-address -exposed issue, couldn’t this be solved by the wallet holder just consolidating those utxos into a new address and using better practices (i.e., new addresses) going forward?

2026-01-17 16:01:22 UTC

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Incredible work. I’ve been trying to get HS walks for 1.5 years. Well done!

2026-01-13 23:36:08 UTC

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Had my first Jacob bar today. Very tasty, excellent consistency. Felt fine on the stomach

2026-01-12 17:39:26 UTC

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https://blossom.primal.net/e507344904fbc43fbf9c944c8cd2667436895b554129758d51ca354de0c7dc2a.jpg

2026-01-12 17:35:06 UTC

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This exists — it’s called Sky360. They started around 5 years ago, focused on this setup for UAP detection
https://www.sky360.org

2026-01-11 00:14:36 UTC

Proof of steak (tartare)
https://blossom.primal.net/9bff6e0075b0420b758a4bd111173334595f9c7dbb6792824cffcdf6f6dabc06.jpg

2026-01-09 21:40:35 UTC

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I do CrossFit everyday and rarely talk about it! But agree, you often see this. I will say it’s really from learning so many new skills and working on them. I think people are energized about it

2026-01-09 01:22:13 UTC

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Agreed! I travel a ton, and having good food options that avoid stomach problems are worth the premium

2026-01-09 00:37:22 UTC

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Been watching these, but they are so expensive per bar! I’ve been really into Carnivore Snax, also not cheap

2026-01-01 12:26:32 UTC

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HNY!

2025-12-30 15:16:49 UTC

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And they spend $1.30 for every $1.00 they’re taxing us. Awful and shameful

2025-12-27 14:32:53 UTC

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I’ve literally said the same thing to others. In societal breakdown / Mandibles scenario, I’d much rather have guns and ammo vs gold or silver. If society is intact, I don’t see how Bitcoin doesn’t win over time

2025-12-27 14:32:28 UTC

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2025-12-27 13:37:47 UTC

@npub1qny…95gx on recent RHR, were you serious about attempting to convert some BTC to gold? Was surprising to hear, but I’ve often gone through same thought process. How to buy, validate it, store it, fees on buying and selling, etc. I either stop there or buy GLD (warts and all). I just keep scratching my head here

2025-12-26 22:41:12 UTC

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This would imply China and BRICS nations are the likely buyers. You’d think there would be a corresponding move. Like US treasury spreads ripping. But the only thing down right now is Bitcoin.

2025-12-26 21:54:31 UTC

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I’ve had the same thought. But we’ve had war nearly constantly the past 30 years. Why is this time different?

2025-12-26 21:38:36 UTC

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I feel this every day. And I’m just getting more frustrated. Is Bitcoin really that misunderstood

2025-12-26 21:29:11 UTC

Seems crazy to suggest…but are we seeing a rotation out of Bitcoin into precious metals? When is the last time silver or platinum were EVER up 10% in a day? This is just nuts

2025-12-24 12:09:46 UTC

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Merry Christmas!🎄

2025-12-17 19:30:08 UTC

Been a really interesting two months. This price action is confusing and uncorrelated to pretty much everything. I can’t wait to learn what’s actually driving it

2025-11-21 00:16:46 UTC

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March 28, 2026

2025-11-20 11:10:56 UTC

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2025-11-18 11:16:17 UTC

@nprofile…4jk3 Jack, always enjoy the pod. How do we reconcile what feels like a liquidity spell these past few months, with what is objectively an ATH in global M2?
FWIW, tons of liquidity in the commercial banking space. Spreads extremely thin and all credits oversubscribed, it seems.

2025-11-12 01:15:01 UTC

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I get it. I like the idea of an analog hedge to Bitcoin risks. But every time I think about holding bullion, I’ve almost always bought more bitcoin. It’s not perfect, but it’s so much better than most alternatives.
I do continue to think about building a gold stack, I just can’t get my head around securing it in a way that feels secure.

2025-11-12 01:04:39 UTC

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I don’t mean this in a snarky way. But isn’t “waiting on your money” via the USPS nuts? Subject to theft, govt seizure, etc. How would this not make you want to buy more Bitcoin

2025-10-19 17:32:51 UTC

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Where can you download?

2025-10-15 10:39:59 UTC

Gold is clearly a massive beneficiary of central bank buying. It’s the right asset for the current time: history of monetary use, embedded in the existing system, large market cap, easily and demonstrably controlled in the past.
Bitcoin may never receive the same benefit. But it’s clearly a huge upgrade for the sovereign individual: easily transferred, divisible and verified, not easily seized or controlled. For these reasons, central banks may never buy and accordingly we may continue to trail gold in market cap for a long time.
But who cares?! We have a near-perfect currency for humanity that will protect us from government debasement and theft. That’s more than good enough for me.

2025-10-10 23:37:25 UTC

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I really admire the effort and dedication. It will be worth it!
The one I bought was in solid shape but wasn’t a daily, so it had a lot of various problems when I got it. Exterior looks great, but engine was showing its age at 225k miles. So I figured, might as well bite bullet and make it my dream car. I’m also putting a 32 gallon tank on it and a bunch of other fun things.
Here’s a link - https://bringatrailer.com/listing/1997-toyota-land-cruiser-fzj80-179/?utm_source=Iterable&utm_medium=email&utm_campaign=campaign_6066658#comments-anchor

2025-10-10 23:21:43 UTC

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Also a 1-HD! It’s currently on the water coming from Australia, and was also fully rebuilt. Are you doing all the work yourself?
Once the work starts, I’ll definitely post. It’s getting prep work done at Land Cruiser Heaven, currently.

2025-10-10 23:11:01 UTC

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Thrilled for you! I bought a ‘97 this year and have it at Land Cruiser Heaven getting a turbo-diesel and manual conversion. Also my dream car, and it will have zero computers

2025-10-10 23:06:14 UTC

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Nothing better than an 80 Series!

2025-10-07 16:47:53 UTC

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Same. I use Windows 11 for work, and it’s literally the same except worse in minor ways. And I’m being forced by Microsoft to upgrade a (personal) 8-year-old Surface that works totally fine? Incredibly lame

2025-10-04 16:52:08 UTC

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Wholesome fun. Wholeheartedly agree, love talking cars with retirees

2025-10-04 15:30:44 UTC

I am not an ultra-high-net-worth individual, but I spend a lot of time with this community given my profession. I have about a dozen instances in the past month of such folks finally getting off zero, or substantially increasing existing bitcoin positions. Mostly ETFs, but about 1/3 self custody.
A key theme has been unsustainable govt debt and increased distrust from the recent shutdown. But I think there’s also a feeling that Bitcoin is about to get started on a run.
Interesting times.

2025-10-04 01:37:42 UTC

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Land. Cruiser. Time.

2025-10-02 13:39:07 UTC

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I appreciate the explanation, and agree that looking at BTC return purely in USD is not a good exercise for actual return. USD isn’t a good denominator for anything. But the 145% return you gave for gold…was that not also measured in USD? Seems like you can’t use different denominators when assessing gold and bitcoin. I think the takeaway is that gold has roughly been on par with Bitcoin over the last 4 years, and has outperformed YTD. Impressive, given its much-larger market cap

2025-10-01 22:06:43 UTC

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Cherry-picked facts used to support a narrative or perspective. I’m interested in what your perspective is.
Also, facts weren’t accurate if expressed in USD? Up 145% from $48k

2025-10-01 00:12:58 UTC

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You’re really down on Bitcoin, continually. I’d love to better understand your story. Are you an anti-Bitcoin person enjoying Nostr? A Bitcoin OG disillusioned by the current state of the community?

2025-09-27 18:57:40 UTC

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First time I’ve heard this, and it’s an interesting theory. Also, seems to be working

2025-09-27 16:11:11 UTC

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I love Primal and am grateful for you and your team

2025-09-24 16:02:04 UTC

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https://blossom.primal.net/ff9da89e953126ee8dcbfd5ef123d2456aed16ff7791602ce993decd162c4f00.jpg

2025-09-24 14:08:06 UTC

@nprofile…x8ph how do you turn off notifications for people “going live”? I checked Settings / Notifications and don’t see that option anywhere.
Thanks!

2025-09-24 11:48:25 UTC

@nprofile…tmfq I detest Instagram, but I would highly suggest you create a burner account and check out Land Cruiser Heaven. Incredible restoration shop, and they sell some vehicles too

2025-09-23 01:16:22 UTC

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Saw that posted earlier today. With the manual transmission, would guess it’s going much higher!

2025-09-21 15:49:16 UTC

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Thanks so much! Definitely going to try. Can you only order over the phone?

2025-09-20 11:18:55 UTC

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Why draw a distinction between commercial banks and private banks for this note? There were some private banks (Goldman, for instance) that received bailouts. But I believe it was mostly commercial banks.
How about hedge funds? That’s a pretty good example too.
All I’m saying is there are private banks that mind their own business, didn’t take bailouts and don’t have a Fed Master Account.

2025-09-19 13:13:00 UTC

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@nprofile…rlak and @nprofile…ud6p are great examples of this

2025-09-19 10:39:50 UTC

So much energy seems to be wasted on the “is Bitcoin a SOV or currency” debate. When merchants or wholesalers with pricing power—due to unique products, scale, service, etc.—start demanding Bitcoin for their goods and services, the people will use Bitcoin. Until then, it will be the weaker currency.
What we can do to speed up this process is orange pill more merchants and wholesalers, and build the tech rails on which this system can thrive.

2025-09-17 12:15:50 UTC

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This feels like Benny hitting the cover off the ball in The Sandlot

2025-09-17 01:01:01 UTC

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Thanks for sharing! I also loved Lee’s book and if you haven’t read Case for a Creator, I highly recommend

2025-09-14 00:19:52 UTC

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I should clarify, they didn’t even produce a physical gift card that might justify the fee. Fold just sent a janky email with the redemption code in an email, that my parents had to print off and give to me.
Scam!

2025-09-14 00:08:22 UTC

Fold Bitcoin gift card is such a scam.
$200 in Bitcoin purchased for me as a gift on Aug 18. Given to me today, so I redeem it on the app. They take a $25 (!!!) fee and convert at today’s (higher) price.
12.5% fee. Messed up, Fold.

2025-09-13 01:44:10 UTC

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I feel this. Momentum is real.

2025-09-12 12:55:04 UTC

1 sat = 1 cent ($1M Bitcoin) is only an 8.7x from here. That’s nuts

2025-09-07 15:31:22 UTC

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I’m interested in your perspective, if you don’t mind further explaining your statement. Not sure I follow

2025-09-07 15:18:25 UTC

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I’m much closer to you than the 0.001% you reference. Despite incentives that discourage it, there will always be overt and covert bad actors in bitcoin. What’s the worst these devs can do? Introduce changes or vulnerabilities that temporarily hurt bitcoin and then…nodes shift to an older or different version, and support is lost. This will continually happen over decades.
My reaction was more in relation to the very strong stance you voiced that you’re “selling everything” as a result. Things aren’t great at the moment, but that seems overblown.

2025-09-07 14:29:17 UTC

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This kind of reaction might indicate you don’t really understand bitcoin. Core Team doesn’t control Bitcoin consensus, we have the ability to reject their changes and iteration of the code and use another. Sure it’s an uncomfortable time, but Bitcoin is antifragile and the software was largely complete years ago. We need better support for additional devs

2025-09-07 13:05:05 UTC

I really enjoy listening to Jordi Visser. Enough that I’ll even listen to Pomp’s podcast to hear Jordi

2025-09-06 23:10:27 UTC

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I think this is why a lot of people miss Bitcoin. To believe in Bitcoin requires an explicit recognition that the current monetary and political system is broken. And the fact is, the current system has benefited a lot of people. A new system scares them.

2025-09-06 22:13:36 UTC

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I’d tweak this slightly. I think most Bitcoiners tend to be “truth seekers.” It’s also why we’re into all other kinds of weird subjects

2025-09-06 22:12:08 UTC

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They are scarce though

2025-09-06 21:37:27 UTC

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I lust after them too. One in good condition will run $100k+! Can’t spend a bitcoin on one

2025-09-06 20:46:50 UTC

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A classic. 90s Japanese sports cars were elite: Mazda RX-7 my favorite, but Supra, NSX, Nissan Z and of course the 3000gt’s were incredible

2025-09-06 19:17:20 UTC

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Not sure if you meant this, but I do favor the sound/vibration tech theory

2025-09-06 18:07:57 UTC

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Other ancient cultures have the same giant stones. They clearly either had “help,” or were more advanced with physics technology than we are

2025-09-06 01:54:42 UTC

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Looks just like a classic Jeep Comanche! Haven’t seen this before