The Bitcoin Treasury Podcast

Jeff Garzik Built Bitcoin's Core Code With Satoshi — He Says Every Saylor's Missing This

July 28, 2026·51 min
Episode Description from the Publisher

Jeff Garzik was one of Bitcoin's first core developers. He emailed patches directly to Satoshi, helped build the foundational software Bitcoin still runs on, and bought the domain that became BitcoinTalk.org. Now he's building Hemi — a Bitcoin-secured L2 — and he has a message for every Bitcoin treasury company: you're leaving money on the table. He covers the Great Slashdotting of July 2010, why the white paper almost didn't matter without the code, the early fear of being arrested for open source development, why 99% of crypto going to zero is actually great news, what Hemi is and why Bitcoin programmability has existed since the genesis block, the De-Genslerification that unlocked institutional Bitcoin, and why yield is the missing step every treasury company is skipping. Follow Jeff: https://twitter.com/@jgarzik Learn more: https://hemi.xyz 🎟️ Bitcoin Treasuries Conference — September 28, New York City Save 10% on tickets: https://bit.ly/4f1kGV5 CHAPTERS: 00:00 Cold Open 00:55 Bitcoin's Exciting Earliest Days 10:03 The Excitement of Early Bitcoin Days 15:58 Bitcoin Can't Be Stopped 21:50 Darwinian Competition In Crypto 28:02 Understanding Hemi: A New Layer for Bitcoin 38:30 Treasury Companies Are Missing Yield Opportunity 46:15 Is Centralization A Concern? 50:50 Stay Orange 🏛️ Institutional custody & OTC at bit.ly/bitGo 🔒 Secure your Bitcoin with COLDCARD — use code 6BT for 6% off at bit.ly/coinkiteStore 🏦 Borrow against your BTC from 8.49% at bit.ly/archlending 💼 Bitcoin executive recruitment at bit.ly/XCEio ⚡️ Bitcoin yield without leaving custody at bit.ly/hemiXYZ   📊 Track every Bitcoin treasury company at bitcointreasuries.net ⚠️ Not financial advice. Do your own research. 🟠 Stay Orange.

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