The Road to Hyperbitcoinization with Adam Back

Join Bitcoin Magazine's Frank Corva as he sits down with the legendary Adam Back—cypherpunk, Bitcoin pioneer, and CEO of Blockstream—for an unfiltered conversation about the future of Bitcoin.

From the evolution of Layer 2 protocols like Liquid and Lightning, to the wave of sovereign and institutional adoption, Adam shares his perspective on the path to hyperbitcoinization, capital markets on Bitcoin, and why the $100 trillion arbitrage from fiat to Bitcoin is just beginning.

They dive into the BitVM debate, the challenges of node policy, and the impact of JPEG spam on the mempool—while also unpacking how Blockstream is pushing boundaries with mining notes, trustless trading, and sovereign-friendly tech.

Chapters:
00:00 - Frank Corva welcomes Adam Back
01:00 - BitVM, Taproot, JPEG spam & relay filters
07:00 - Network relay dynamics & compact block impacts
10:00 - Adam’s take on the GitHub policy debate
11:30 - Blockstream Mining spinoff & BMN product update
14:00 - Building capital markets on Bitcoin
20:00 - Liquid vs. Lightning: privacy, swaps & UX tradeoffs
24:00 - State of the bull market: ETF inflows & corporate demand
27:00 - BlackRock, MicroStrategy, and the rise of Bitcoin treasuries
30:00 - The $100T arbitrage and hyperbitcoinization
32:00 - ETF custody concerns & institutional adoption
35:00 - Governments entering the Bitcoin race
41:00 - Zombie institutions vs bold actors
44:00 - Bitcoin scaling into institutions
47:10 - Outro: What’s next for Blockstream

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