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Lyn Alden warns that BIP 110 is unlikely to curb spam and instead mostly rearranges non-monetary data, raising the risk of a minority fork attempt that could split the Bitcoin chain.Lyn Alden is a leading macro analyst and Bitcoiner who examines how fiscal dominance now overrides traditional monetary policy tools.She breaks down why high debt-to-GDP ratios prevent rate hikes from taming inflation, how broad money supply still expands 5-8 percent annually, the limits of semiconductor and AI valuations, and the structure of a new Bitcoin-backed permanent capital vehicle for acquiring cash-flowing businesses.Timestamps:02:14 — BIP 110 Won't Stop Spam04:56 — Bitcoin Faces August Chain Split Risk12:12 — Bitcoin in Bottom Decile of Cycle15:37 — Nothing Stops This Fiscal Train18:04 — Why Volcker Can't Work Today22:02 — Higher Rates Won't Break the System24:44 — Net Issuance Matters, Not Gross Refi27:34 — Fed Balance Sheet Stays Flattish32:56 — Broad Money Grows Despite Flat Fed36:05 — US Money Supply Growth Hits 5-8%38:51 — Fiscal Dominance: Who Wins the Money?41:50 — Why Semiconductors Print Money45:13 — Software Stocks: Value Trap or Opportunity?47:31 — AI Is the New Dot-Com Bubble52:00 — Orange Juice: Bitcoin-Backed Business Buyer57:57 — Permanent Capital Vehicle, Not a Fund59:39 — Founders Keep Equity Upside After SaleLinks: X: https://x.com/LynAldenContactWebsite: https://www.lynalden.com/0BIP 110 debate ("motte-and-bailey" critique): https://x.com/LynAldenContact/status/2078599151043162159 Stephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack
