Bob Burnett was named executive chairman of Ocean on September 1st, three days after Luke Dashjr resigned. In this episode he explains what actually happened, why he thinks the BIP-110 push was never going to work, and why he doesn't think the people behind it are villains.

Larry Lepard argues this isn't the Wild West anymore. Bob argues Bitcoin is crossing the chasm and a lot of companies built for the early era are about to hit a wall. They disagree about almost none of it and still manage to spend twenty five minutes on it. Gary Leland keeps score. George Bodine is absent.

CHAPTERS

00:00 Somebody is trying to be king

00:46 Bob is chairman of Ocean now

01:15 Congratulations, allegedly

01:33 Three good years and a divorce

02:49 Every company hits a wall

03:28 Ledn

03:58 Cold Card, Blockstream, and the chasm

04:46 Geoffrey Moore, 1991

05:09 Innovators, early adopters, the early majority

07:04 Why they asked Bob to run it

08:23 A lot of flame outs

09:06 This isn't the wild west anymore

09:37 Lumpy but better

10:44 Sazmining

11:11 What is Bitcoin, exactly

13:01 Suspending the subsidy

13:26 Rules, not rulers

13:47 A pool's job is to serve miners

15:33 The marketplace decides

16:27 Don Quixote tilting at windmills

17:08 There will be suits

19:39 Pick your villain

20:11 Swan

21:01 What happens at Ocean next

21:37 Reserve judgment

22:59 Luke calls the old chain spam coin

23:50 What is a woman

24:25 I'm going to fire the miners

25:41 Kryder's law and the node problem

26:27 It's pretty fucking good

26:56 Roger that

SPONSORS

Swan — swan.com/boomers, code BOOMERS

Ledn — ledn.io/boomers. Bitcoin-backed borrowing involves interest, custody and liquidation risk.

Sazmining — sazmining.com/boomers, code BOOMERS. Mining ROI varies.

Larry @LawrenceLepard · Bob @boomer_btc · Gary @GaryLeland

The show @bitcoinboomers

None of this is advice. We're three guys who bought it early and still argue about it.

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

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.

Larry Lepard, Bob Burnett and Gary Leland on the September move: Bitcoin caught air off 62 and ran to 81 before settling near 77, the Fed's rate decision, Treasury buybacks tripling to $6 billion, and why half the people mining Bitcoin are probably losing money right now.

Larry's call: $180,000 by the end of 2027. Bob's view from inside mining: the median cost of production is in the mid $60,000s, and spot is barely above it. And for anyone still waiting for $50,000 — Larry has a two-word answer.

Plus: the fourth Boomer joins us from an elk camp in Colorado.

00:00 Give up. You missed it.

00:49 Gary's back, George is hunting

01:19 The fourth Boomer, from an elk camp

06:00 Bitcoin caught air: 62 to 81 to 77

06:32 The yen, FIMA, and Bessent's bigger boat

09:29 Warsh the hawk

11:59 The flag and the $5,000 dividend

13:18 Miner P&L

16:29 Bitcoin decouples from the Nasdaq

18:29 The AI trade peaks

22:10 Public miners go hyperscale

25:10 Larry's call: $180K by 2027

26:13 "Give up. You missed it."

29:12 Cost of production

32:16 Energy costs

35:06 Year-end predictions

37:43 "I'm not a financial advisor." "Well, I am."

Thanks to our sponsors:

Ledn — don't sell your Bitcoin, borrow against it → ledn.io/boomersSwan — real Bitcoin, in your name → swan.com/boomersSazmining — own the rig, not the output → sazmining.com/boomers

Nothing here is financial advice. Everyone's situation is different.

"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.