What Actually Backs Bitcoin?

"Not today you don't." The Boomers open with the question every holder secretly googles — do you owe taxes on Bitcoin you never sold? — and the answer detours through gold teeth, seventeen nuclear aircraft carriers, and Larry calmly explaining why he thinks this asset goes to a million dollars… then ten. Bob puts a number on the network nobody can picture (900 exahashes — more raw computation than every supercomputer on Earth combined), George explains why that's "the magic of Bitcoin," and then the fork question lands: what actually happened at block 961,632 when BIP-110 tried to split the chain — and why one side kept mining forever while the other managed two blocks.

Lightning-round episode: taxes, hashrate, gold vs Bitcoin, the 50% drawdown rule, estate planning without losing your keys, and one bonus question that gets a very honest answer. Larry Lepard, Bob Burnett, and George Bodine hold the couch — Gary Leland sits this one out (he'll be back).

CHAPTERS

00:00 — Cold Open

00:50 — Do I Pay Taxes on Bitcoin If I Don't Sell?

02:21 — Swan (sponsor)

03:01 — Gold vs Bitcoin: Which Do You Trust?

04:29 — 900 Exahashes & 17 Aircraft Carriers

06:51 — Sazmining (sponsor)

07:25 — What Backs Bitcoin?

10:12 — Sleeping Through 50% Drawdowns

14:33 — Ledn (sponsor)

15:01 — Bonus: The BIP-110 Fork at Block 961,632

The Bitcoin Boomers is a panel for smart, successful people over 40 still on the outside of Bitcoin looking in. Plain English answers to the questions no one else will touch. Signal without the noise.

Your hosts:

Gary Leland, founder of BitBlockBoom and Hall of Fame podcaster.

Lawrence Lepard, sound money fund manager and author of The Big Print.

Bob Burnett, mining entrepreneur and founder of Barefoot Mining.

George Bodine, the World's Most Interesting Bitcoiner.

Listen to the audio anywhere:

🍎 Apple: https://podcasts.apple.com/us/podcast/the-bitcoin-boomers/id1853058330

⚡ Fountain: https://fountain.fm/show/kHBRZl0Mb0MGWMELtjw4

Subscribe: https://www.youtube.com/@BTCBoomers

Sponsors who make Boomers possible:

Sazmining, mine your own Bitcoin: https://Sazmining.com/Boomers

Ledn, borrow against your Bitcoin: https://ledn.io/boomers

Swan, Invest in Bitcoin: https://www.swan.com/boomers

Follow the hosts:

Bob Burnett https://x.com/boomer_btc | Gary Leland https://x.com/GaryLeland | Lawrence Lepard https://x.com/LawrenceLepard | George Bodine https://x.com/Jethroe111

Educational only. Not financial, legal, tax, or investment advice. Do your own research.