Intelligence is becoming more abundant and cheaper by the day, but where does all that new value actually go? In this Read episode, I break down a brilliant report by Early Riders called "The Singularity Stack". I walk through the transition from energy to agent work, why fiat money bleeds out AI's deflationary gains, and how my own peer-to-peer tech stack is already proving this reality today. The tech is moving too fast to track, but the endgame is clear: AI needs a settlement layer, and a fixed-supply money seems to be the best candidate.

Shoutout to @TheGuySwann for this latest pod. He is using the tools and sharing his perspective on @Early_Riders' Singularity Stack report on @BitcoinAudible He explores what happens when intelligence becomes as cheap and accessible as electric light, why productivity gains can coexist with a rising cost of living, and how Bitcoin changes the hurdle rate for investing. Guy has been working through these ideas in his own production process. He uses AI agents to build and improve the software he records the show with. During the episode, he demonstrates how a spoken bug report, paired with logs of his actions, gives those agents enough context to start fixing the problem while he keeps recording. I loved it because it pairs the larger picture of where we're going with he uses the tools today in an actionable way that others can find value from. Check it out! piped.video/watch?v=0tbOmVti…

JP Morgan ranks bitcoin first for expected return, then dings it for volatility. Volatility isn’t risk. Bitcoin’s skews positive. Most assets on the list skew negative. Bitcoin’s volatility is a feature, not a bug. [@BackslashBTC on The Last Trade]

1830: an hour of light cost 3 hours of labor. Now: 0.07 seconds. @Early_Riders says intelligence is next, and only fixed-supply money keeps those gains instead of inflating them away. @TheGuySwann reads The Singularity Stack on @BitcoinAudible: fountain.fm/episode/SL1T4LxE… #Bitcoin

Stablecoin rewards could look very different in the months ahead. Our Co-Founder and CRO, @hhsahay, spoke to Investing. com about why memberships, spending and platform activity could shape what comes next. Read his take ↓

Onramp Finance replaces the bank app, the exchange and the separate custody setup with one account. Earn up to 5% on your dollars, buy bitcoin at the lowest fees, turn on recurring buys, and move your bitcoin into Multi-Institution Custody when you’re ready.

Don't ask a lender "what's your rate?" first. Ask "what happens to my loan on a day Bitcoin drops 10%?" The answer tells you more about the lender.

We spent years talking about $1 million bitcoin. We’re only starting to internalize how different that world was always going to be. Bitcoin grew from individuals adopting, learning, and building before institutions were ready. That knowledge doesn’t disappear when a bank finally shows up; it only compounds. Because of this, the individual will always be the most sophisticated market participant in bitcoin. That's why legacy institutions are sleepwalking into what's happening, building omnibus wallets through single custodial models even though empirical evidence shows that over 50% of bitcoin sits outside for a strong reason. That only grows as instos adopt bitcoin in size like individuals; they come to the same conclusion: I can't get knocked out of the game because someone fails. Marc’s point here is that AI follows the same pattern. An individual can change how they work tonight. An institution has systems, approvals, and existing businesses to protect. While one is getting started, the other is getting better, FAST. Now put open intelligence and open money together. Smaller teams can build more, reach customers directly, get paid globally, and put the proceeds back into building. That’s a compounding advantage, not just a head start. An internet built around harvesting attention and renting access to customers doesn’t have to be the final version. That’s what excites me about investing on the @Early_Riders side; this was the thesis in the whitepaper 3 years ago, and also building @OnrampBitcoin. So much of what we accept as permanent was built before better tools existed. I think the next great renaissance comes from people realizing for the first time that the only limits are imagination, execution, and taste for what the market wants. Let's get it, and reach out if you are building for the new world with the new tools.

Company 39 of 50 in our series on the most interesting companies in Bitcoin's history: @CopperHQ, the company that let funds trade on exchanges without trusting them. @tokarev_d founded the UK-based custodian in 2018, but the real product was ClearLoop, its off-exchange settlement network. Institutions could trade across venues while their assets stayed in Copper's MPC custody rather than on the exchange, removing exactly the counterparty risk that later sank FTX's customers. ClearLoop grew into one of the largest off-exchange settlement networks, connecting Kraken, OKX, Bybit, Deribit, and Coinbase's international venue, with a roughly $196M Series C backed by Alan Howard and Barclays. Copper keeps growing as a key platform for institutional investors in Europe and beyond. Its model looked prudent in 2018 and prescient by the end of 2022: after FTX, off-exchange settlement stopped being a feature and became standard institutional practice. One company from Bitcoin's history, every day, for 50 days. The full interactive record, all four eras and the twenty venture firms that funded them, is at earlyriders.com/top50

Bitcoin custody is the whole game. Alone, the burden is yours. Handed off, their risk is yours. Multi-Institution Custody is the third way. Three independent institutions hold keys. None can act alone. You stay in control. Segregated, verifiable, no single point of failure.

Going on Mexican radio this morning to talk about bitcoin to a real estate audience

Algunas personas ya adivinaron todo correctamente y otras están muy cerca. Puede que encuentren algunas pistas en los comentarios que dejamos. Todavía no se han ocupado los 10 lugares, así que el juego sigue! 👀