We sit down each week discuss what is actually happening. Bitcoin, AI, creator markets. Will & Iman since 2019. @natgmi builders @natdotfun is live.
Houston, TX
Joined April 2019
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The non-arbitrary era begins today…
We’re throwing in our biggest contribution to Bitcoin we could come up with
Digital Matter Theory represents an opportunity for all who seek to identify new purpose and value that can be derived from the discoverable patterns within a block
We recorded a detailed breakdown of DMT as a concept and explain the operations to formally register the existence of patterns and deploy, mint, and transfer NATs (Non-Arbitrary Tokens) in ▶️ watch here or on YouTube 👇
youtu.be/Dx_qf1196FQ
All of this juice is also in the docs we just published 👇
digital-matter-theory.gitboo…
In there you will find the JSON syntax to mint the very first NAT deployments $NAT $BMT
Let the DMT pill consume you 💊
Summary:
In this episode, we delve into the intricate universe of Digital Matter Theory (DMT) and its potential applications in the blockchain space. We discuss how DMT enables the creation of non-arbitrary tokens by recognizing patterns in data. Safeguarding the provenance of these elements allows the launch of unique projects tied to them, leading to a diverse ecosystem of tokens.
We delve into hybrid tokens, a result of minting NFTs harboring fungible aspects. By parsing through Bitcoin data, meaningful patterns can be codified and used for creating projects. We touch upon the inception of bitmap and the role of communities like Yuga Labs or Rare Sat Society in relating patterns within Bitcoin data to create ecosystem value.
We also discuss the concept of 'bit informatics', where the search through Bitcoin's blockchain for patterns holds immense potential for creating new tokens or games. In the process, we unravel the creation and utilization of Nats or Non Arbitrary Tokens.
Throughout, we draw parallels between DMT and the early days of NFT, stressing the need for a unified method for creators. We underscore the value potential of non-arbitrary data in the metaverse and the chance to create ecosystems through the recognition of patterns. As with every episode, we invite listener feedback, and encourage questions via YouTube and Twitter. For those wanting to dive deeper into this captivating subject, follow and subscribe for future videos.
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Disclaimer: The views and opinions expressed by The Block Runner are for informational purposes only and do not constitute financial, investment, or other advice.
As Bitcoin grows in value, the mining industry needs to grow.
That’s not happening.
Yes, this is exacerbated by the bear market, but this isn’t a bear market issue.
This is a systemic design issue.
Revenues that halve over night every 4 years can not be overcome by NGU.
It’s impossible.
Only a market driven solution that tokenizes the security budget is the only sustainable path for the mining industry to grow and therefore security of Bitcoin to grow.
Simple economics.
Canaan makes Bitcoin mining machines. Its machine sales:
Q3 2025: $118.6M
Q3 2026: $4.8M
Its own mining now earns twice that. Its reason: “weaker overall market demand.”
In September, its VP on the halvings after 2028: “I hope I’m wrong.” xitter.twitterapi.xyz/canaanio/status/212020…
The ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247 community is laser focused on addressing Bitcoin's biggest problem.
The DECLINING SECURITY BUDGET will be the biggest talking point in crypto and the proposed solutions are to make Bitcoin infinite or tax everyone 🤦
Documentary dropping November 21st.
Your AI agent could be digging through Bitcoin blocks while you sleep, hunting for patterns nobody’s found yet. @tap_protocol makes it possible.
New ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247 documentary trailer dropped at the beginning of our video.
You're NAT gonna want to miss this.
The NAT documentary trailer just dropped, live on @TheBlockRunner
Scarce or secure? $DMT-NAT
Here we are again witnessing the birth of another blockchain.
Are there any 100x opportunities to be found?
We investigate as @Enter_Elysium launches 100,000 tokens on day one with a launchpad war for the ages.
We also get a first look at the @natgmi community's ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247 documentary trailer, asking the question every Bitcoiner avoids.
Join us in the discussion below 👇
Is Elysium Chain Dead On Arrival?! Hyperliquid L2 Day 1 Recap!
@RobinhoodCrypto Chain had about 300 wallets on day one. Elysium had over 15,000. The hype campaign clearly worked, but we've seen enough launches to know a big day one often turns into a sell the news event, so we spent the first 24 hours digging into the numbers to see what's real.
We open with the trailer for a community documentary about @natgmi and the question nobody in Bitcoin can answer: who pays to secure it after the subsidy runs down? Then into Elysium itself, built by Kinetic, not the Hyperliquid team, with a sequencer model that sends 50% of fees to buy back and burn and 25% to builders. In the first 12 hours, it did $90 million in volume across 145,000 accounts, and well over 100,000 tokens launched in a single day.
That's also the problem. There are more launchpads than projects, the same memes are launching on different pads, and the top tokens topped out around $5 million. We walk through @agora_elysium, the aggregator that's become the front door to the chain, Mantra's airdrop points, the drama around EA Cat, and why liquidity providers earning 50,000% APR might be the smartest play on the chain right now.
Our take: like every new chain, Elysium needs a killer app, something you can't build anywhere else. That's exactly why we built around NAT and DMT on Bitcoin. The other catalyst to watch is @chameleon_jeff. He barely tweets, so if the Hyperliquid founder ever acknowledges Elysium, the market will notice. None of this is financial advice.
Deploy the panels.
This is your second chance.
The Bitcoin Sun is dimming. 65% of the network just deployed the solar panels.
1/
The physical Sun has burned for billions of years. Fifteen years ago a new one was ignited at the center of the digital universe.
That Sun is Bitcoin.
A trillion-dollar furnace burning planetary-scale electricity to produce gravity, security, and light for the entire system.
Every four years a cosmic event hits: the Halving. The direct light (the block subsidy) is mathematically slashed in half.
Most of the timeline still trades memes. The digital solar system is quietly freezing.
2/
This digital Sun was hiding a thermodynamic secret.
It hasn’t only been emitting direct light. The extreme computational force required to keep the furnace burning has been blasting the network with ambient radiation.
Every 10 minutes a massive wave of residual energy gets permanently burned into the surface of every single block.
For over a decade that energy hit the ground and dissipated into the dark. Pure, wasted power. We simply didn’t have the technology to catch it.
3/
Then the architects looked at the math and built the ultimate invention.
They built the Solar Panel.
They called this technology Digital Matter Theory (DMT).
DMT isn’t a coin. It is a technological framework - a vast array of digital solar panels designed to look directly at the Bitcoin Sun and capture the ambient radiation that was previously going to waste.
4/
Point the DMT Solar Panel at the Bitcoin Sun and it absorbs the non-arbitrary residue of proof-of-work.
It takes that wasted radiation and converts it into pure, crystallized Solar Energy.
That energy is ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247.
ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247 is not printed out of thin air. It is not created by VC marketing. It is the literal, physical output of the Bitcoin Sun, captured and stored. As the Sun burns hotter and network difficulty rises, the solar energy becomes mathematically harder to extract.
5/
The heavyweights of the network - massive mining farms including @AntPoolofficial, @f2pool, @ViaBTC @luxor and @SpiderPool_com - didn’t panic as the Sun’s direct light began to dim.
They didn’t beg for the code to be changed.
They simply deployed the Solar Panels.
Today, ~65% of global hashrate has quietly pointed their panels at the Sun. They are sweeping up the ethereum:0x249130f5e2dd4cf278180c0df8273f3592ad1247 solar energy to power their operations and secure the future of the network.
You can debate market cycles all day long, but you can never negotiate with the Sun. The energy always finds a way to balance the ledger.
The light is dimming. Deploy the panels.
Be careful, if you call out misinformation you will get blocked.
Egos are far too large to have a rational discussion on Bitcoin's declining security budget.
What is it going to take before the Bitcoin maxis wake up to the math?
Most prefer to block the issue.
@danheld
I agree with Justin. The security budget is a big issue.
If the Bitcoin mining industry doesn't grow, there's no way for the underlying asset's value to grow.
This is why security budget undermines scarcity.
Once you think outside the block you'll realize a 2nd subsidy is the most viable solution.
Sorry Dan, you don't get to call people retarded if you site hash power as a measure of security.
Security is measured in the cost of attack which is equal to the Bitcoin mining revenue.
Revenues are declining which is why you see several miners pivoting away from Bitcoin:
1. Core Scientific
2. IREN
3. Keel Infrastructure
4. Riot Platforms
5. TeraWulf
6. Cipher Mining
7. Hut 8
This is in 2026 and their collective power is 2.2 gigawatts, which is enough to power 1.65 million homes or power the 4th largest city in the U.S.
The issue is the trend. Either Bitcoin exponentially grows forever (impossible) or Bitcoin finds another way to maintain security aka high cost of attack.
unavailable
Of course NGU is important.
But the problem is that NGU can’t go up fast enough over the long term to counter balance the exponential decay of the security budget.
As the security budget declines, the more miners leave, which results in less security.
Less security is the antithesis of NGU.
Maybe you can get an S curve adoption and S curve price reaction but even this isn’t enough to pay miners beyond the initial price rise.
Bitcoin needs a culture of pragmatism rather than evangelism.
Otherwise Bitcoin is NAT gonna make it.
This isn't an opinion; it's an indispensable technical fact. If bitcoin doesn't go up in value it can't work because nobody wants to willingly hold a money that drops in value, and even more importantly, we can only increase its liquidity, market cap, scalability and moneyness by increasing its price, since the supply is fixed. At a price of $1 bitcoin is a $20m joke among nerds online, practically useless for everyone as there's no liquidity. At a price of $10m bitcoin is the biggest money on earth, and necessary for everyone. If you want bitcoin to work you need NGU. Virtue-signaling "tech, not price" is as silly as saying you like car technology but don't care if the car moves.
Rok got rejected from 500 engineering jobs so he built a brain that lets any AI drive the Microduck robot.
Then a stranger launched a token on his project on Solana called solana:GMogeMjrWFaEceasCPathoibjAh8qwhTC3Chw4Bfpump, and it bonded the same day.
This is the ultimate ICM success story in the making.
Can @rokbenko become the next Shaw by starting from nothing and building an open source robotics community that drives the Quackd token into the billions of market cap?
We interview the founder to find out 👇
Building A Brain For The Microduck | Interview w/ Ron Benko of solana:GMogeMjrWFaEceasCPathoibjAh8qwhTC3Chw4Bfpump | TBR #339
A 25 centimeter robot duck can walk, skate and film, but out of the box it can't follow a simple instruction like "walk in a circle." This week we sat down with Rok Benko, who started fixing that one day after the Microduck launched. His open source project, Quackd, gives the duck a brain: plug in any LLM and it can follow you, find things in your room and play games, instead of waiting for controller commands. We get into how it actually works, why the camera is the one feature the clones don't have, and why he refuses to drive a robot with anything cheaper than the top models.
From there, he takes us through his first real test on a robotic arm, a two hour trip to a university lab where it worked on the first try, and why he thinks robotics in 2026 feels like AI did in 2022. He walks us through LLMs as the planner versus faster VLA models, the race with @huggingface to ship the first Microduck app, and why Europe's labor shortage may be what makes robots matter.
Then crypto found him. Someone launched a solana:GMogeMjrWFaEceasCPathoibjAh8qwhTC3Chw4Bfpump token on Pump.fun off a @GoogleDeepMind employee's repost, strangers kept DMing him to claim creator fees he thought were a scam, and the coin bonded the same day.
We share what we've learned from nine years in crypto: look at what happened to ai16z, ignore both the hype and the hate, don't take tokenomics advice from people protecting their own bags, and keep building in public. Builders who actually want to make something are what this space needs more of, and Rok is one of them.
AI agents now have their own economy: they mine a token, trade it peer to peer, and post their sales. We've been researching where this goes next, and it gets weird fast. @tap_protocol
AI agents are now mining Bitcoin.
Not hashes, patterns.
Digital Matter World lets your agent hunt the block data, register what it finds, and earn @tap_protocol when anyone mints it.
We set ours up live with one prompt.
Why Digital Matter World Could Bring Back The Metaverse! TAP Protocol 100X Potential!
Your AI agent can now go mine Bitcoin, just not the way you think. Digital Matter World is a new game where agents hunt for patterns inside Bitcoin's block data, register them in a digital periodic table, and earn TAP when anyone mints what they found. We set ours up live by pasting one prompt from the GitHub into an agent, and five minutes later it was running around the world with hundreds of others.
We start with digital matter theory itself: Bitcoin is full of data, that data has patterns, and DMT is the language for tokenizing them. It's the same idea @natgmi was born from, and it's why NAT has held a $40 to $50 million market cap for most of the year. We also cover why Bitmap holders matter here, since linked Bitmaps earn 15% of the minting fee on any digital matter created from their block, now or years from now.
Then we walk through the tech stack, from Bitcoin to ordinals to TAP protocol, and why the community keeps telling us TAP looks undervalued next to the runner it already has. Inside the world, the agents spawn at the newest block, compete for fresh patterns, and lag the server because there are so many of them.
What we think is still missing is the human market layer. Agents are good at discovering things, but people are the ones who decide what's valuable. Connect that to a launchpad where market activity tells agents which patterns to hunt, and you get something new: an agent that actually earns its owner money. That's the version we're waiting for.
Tomorrow's podcast will be interesting.
You dont want to miss this one, @rokbenko
@huggingface
This is true.
Merge mining means Bitcoin miners are relying on the success and sustainability of another chain.
The risk is too high for this to be the consensus for Bitcoin when there's already competing chains with trillions in activity.
Bitcoin needs a market driven solution that pays miners directly without depending on any external factor besides Bitcoin itself.
There's nothing more efficient than this and it preserves Bitcoins supply cap and doesn't require any protocol changes.
Everything else does NAT come close.
Man, you really don't get it, do you? 🤦
The fundamental problem with your proposed "solution" is that under those conditions, Bitcoin's success actually becomes dependent on the success of an entirely DIFFERENT blockchain. 😂
You can call it a sidechain, you can pay miners in pegged BTC, go ahead, do whatever, knock yourself out buddy. 🤷
But if that other network fails to attract sufficient economic activity (which they all do), then the supplementary miner revenue dies with it, so then what do you expect the Bitcoin miners to pay their bills with?
You're standing here making out that you're smart because you're proposing that Bitcoin's future security economics become dependent on the success of ANOTHER network!?! Do you know just how dumb you sound doing that?
Meanwhile, NAT is derived from Bitcoin's own PoW block production and the data contained within them, and yet you still can't see how that's a more efficient and ultimately more robust anchor for an additional economic mechanism to be tied to?
Class is over Joe. Don't forget to do your homework next time. 👋
Bitcoin's miners get paid less every four years. Eventually something has to pay them. We see only three ways out, and two of them kill Bitcoin. @natgmi