In this episode, John Carvalho joins the show to discuss his unconventional view that Bitcoin’s real bottleneck isn’t technology but trust, challenging the assumptions behind Lightning, layer-two "scaling," and even the broader cultural narratives about Bitcoin’s future. We also discuss why he believes layers don’t truly scale Bitcoin, how trust dynamics shape every payment system, and why Synonym is building a new framework for peer-to-peer coordination that goes beyond blockchains. Enjoy!

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Timestamps:

(00:00) Introduction

(01:31) Can Lightning Actually Scale?

(12:10) Why Trust Shapes All Bitcoin Scaling

(20:57) Why Trust Shapes All Bitcoin Scaling

(30:19) How Synonym Approaches Bitcoin Scaling

(34:56) Synonym’s Innovations, Tools & Future Roadmap

(37:22) Data Control, Custom Algorithms & Pubkey Protocol

(40:09) E-Commerce, Mobile Wallets & Next-Gen Bitcoin UX

(42:03) Upgrading Nodes & Reinventing the Payment Protocol

(47:19) Trust-Based Scaling: Pros & Cons

(50:57) Rethinking Bitcoin Treasuries

(01:02:24) A Personal Bitcoin Strategy

(01:04:39) Final Thoughts

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Disclaimer: Nothing said on Supply Shock is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

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