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Steve highlights BlackRock data showing Bitcoin's low correlation to traditional equities. Over a ten-year average, Bitcoin's correlation to the S&P 500 is zero point one eight, compared to zero point zero six for gold.
Steve points to BlackRock data showing Bitcoin's performance after geopolitical crises. Following six major post-2020 disruptions, Bitcoin consistently outperformed gold and the S&P 500 on both ten-day and sixty-day horizons.
Steve refutes centralization concerns by citing distribution metrics. His research shows that sixty-nine percent of Bitcoin is held by retail, while exchanges hold six percent, ETFs hold seven percent, and MicroStrategy holds four percent.
Steve Lee explains that Spiral launched Project Loop to run AI security scans for open-source software like Bitcoin Core. This initiative started after frontier model providers like Anthropic refused to grant developer access to their advanced cyber-security models.
Steve Lee highlights Buzz, an AI-native collaboration platform built on the decentralized Nostr protocol. The platform integrates peer-to-peer inference via Mesh LLM, allowing teams to pool local compute and execute automated Bitcoin payments for microtasks.
Steve Lee points out that Block has developed Bitcoin mining chips and spent four years researching AI applications. The company recently expanded its open-source funding through Spiral to support both decentralized money and open intelligence projects.
Customers who properly used Coldcard's dice roll feature (e.g., 99-100 rolls) or a strong BIP39 passphrase (128-bit or more) should be safe, but Steve suggests moving funds for peace of mind.
Steve emphasizes custody diversification as crucial, recommending users split funds between solutions with non-intersecting risks, such as a third-party custodian and a self-custody solution, rather than relying solely on one method.
Steve and DK dismiss comparisons of MicroStrategy to Terra Luna as misinformed, emphasizing that MicroStrategy's stock is not a deposit and Saylor is not contractually obligated to pay dividends. Its only long-term bankruptcy scenario involves a flat-to-down Bitcoin price over five to seven years, provided convertible notes still exist.
Steve warns an eCash hard fork could create tax liabilities and operational burdens for businesses, posing a potential attack vector if replicated.
Steve notes Illinois enacted a 0.2% transfer tax on crypto assets, targeting third-party services, raising questions about its applicability to self-custody transfers.