PBJ

0:00 - Special Thursday PBJ

0:59 - How Blockstream Liquid works and how it was hacked

6:57 - The strange (extortionate?) “white hat” twist

10:45 - AI security scanning and Liquid’s 'fix' that made things worse

12:50 - What the Liquid hack reveals about federations and custody

20:07 - How Blockstream plans to make Liquid users whole

26:08 - Open Source AI Summit takeaways

31:30 - Anthropic and the threat to open-source AI

39:51 - Open protocols for agents, identity and memory

43:32 - Vora reveals stunning private, local AI hardware

SHOW NOTES:

https://opensourceaisummit.org/

https://vora.io/

0:00 - Opening banter

0:40 - PBJ Topic Explorer

7:34 - Particle Radar brings AI search for the world’s podcasts

12:35 - Voya Energy's new approach to metal fuels for storage

23:25 - Nvidia doubles down on open-source AI (Hugging Face acquisition)

35:45 - Using GrokBot for long-horizon research

41:54 - Giving agents long-running goals

46:59 - New security risks and attack surfaces from trusting other agents

53:09 - Is Twitter or Cursor’s data more valuable?

1:03:50 - AI security investigations are getting harder

1:06:55 - Core Lightning vulnerabilities and disclosure dilemma

1:18:35 - How far ahead are frontier AI models?

1:23:36 - Building a market for cheap, spare compute

1:30:30 - Darkbloom’s decentralized (Mac) inference network

SHOW NOTES:

PBJ Topic Explorer: https://pbarchive.ai/topics/

Voya Energy: https://www.voya.energy/news/voya-energy-unveils-a-new-metal-fuels-energy-system-closes-35-million-series-a

Darkbloom: https://www.darkbloom.dev/

0:00 - What's behind bitcoin's rally?

8:33 - Open Source AI Summit and questions for David Sacks

18:00 - Berd and Block’s growing stack of open-source AI agents

22:30 - Alby's TaskFuel simplifying payments for agents

30:14 - The missing credential layer for agents

36:46 - Making sense of Stripe’s OpenRouter acquisition

48:02 - What's OpenRouter’s moat?

52:50 - Apple, OpenAI and the battle for user intent

57:46 - Making the internet infinitely programmable

1:07:47 - BlackRock's new case for bitcoin

1:21:03 - What causes bitcoin’s four-year cycle?

1:26:25 - Strategy's notable resilience

1:30:49 - Is bitcoin becoming more centralized and how best to measure it?

SHOW NOTES:

https://opensourceaisummit.org/

https://www.blackrock.com/us/financial-professionals/literature/whitepaper/re-underwriting-bitcoin.pdf

0:00 - Last week’s breakout episode

1:36 - Bitcoin, AI and energy are starting to converge

12:06 - Announcing the Type II Summit

15:05 - Panthalassa and offshore compute

17:30 - Introducing the PB Media Archive (pbarchive.ai)

22:15 - Reexamining podcast accountability and ad incentives post-COLDCARD

34:55 - The BTCPay Server exploit (happening in real time)

36:11 - No software project should assume it’s safe

41:20 - Why closed source won’t protect software from AI (OpenAI–Hugging Face incident)

53:40 - Project Loupe’s approach to AI security scanning & learnings

1:01:30 - The push to get early AI access for bitcoin developers

1:06:30 - How the COLDCARD incident has rallied bitcoin security (e.g., Bitcoin Red Team)

1:13:00 - The hidden risks of DIY bitcoin entropy

1:21:50 - Was the COLDCARD hack an inside job?

1:28:24 - Rethinking responsible disclosure in the AI era

1:35:12 - How vulnerable is the Lightning Network to AI?

1:37:25 - Will agents choose bitcoin or create something new?

1:42:45 - White-hat hacking, recovery and property rights

1:54:48 - Spiral’s idea for a neutral protocol for multi-vendor wallet security

SHOW NOTES:

PB Media Archive: https://pbarchive.ai/

COLDCARD PBJ: https://youtube.com/live/cSXOmwI38Jo?feature=share

0:00 - The COLDCARD hack: bitcoin’s worst security incident ever?

4:30 - What happened and how thefts were identified

7:04 - The random-number failure behind the hack

13:24 - The right way to generate wallet entropy (i.e., dice rolls)

20:45 - Who is affected and what users should do

31:43 - Custody options and why diversification matters

37:37 - The source-license change behind the COLDCARD bug

40:33 - How AI changes open-source security audits

52:30 - How the community can limit further theft

59:56 - Why patches cannot fix keys and recovering stolen bitcoin

1:10:37 - Does AI strengthen the case for custodians?

1:16:30 - Future of self-custody

1:21:43 - Evaluating Bitkey, Ledger, Trezor and multisig post-COLDCARD

1:31:04 - ETFs, custodians and new transparency standards

SHOW NOTES:

PBJ custody survey episode: https://www.youtube.com/watch?v=OSanv5Z-DA4

Block COLDCARD blog post: https://engineering.block.xyz/blog/predictable-rng-fallback-and-32-bit-reseed-in-coldcard-firmware