In this episode, veteran Bitcoin developer Matt Corallo joins to discuss why second layers like Lightning and Ark are essential for scaling Bitcoin — and why current laws put them at risk. He breaks down the regulatory blind spots threatening non-custodial wallet developers, and advocates for the Blockchain Regulatory Certainty Act to preserve open-source Bitcoin innovation in the U.S. Corallo also challenges Bitcoin's cultural orthodoxy, pushing for realism on decentralization, L2 tradeoffs, and the future of meaningful development. We cover Bitcoin maximalism, scaling via hybrid wallets, legal tail risks to L2s, and more. Enjoy! — Follow Matt: https://x.com/TheBlueMatt Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock Supply Shock Survey: https://bitcoinhistorynl.beehiiv.com/forms/979475d9-fb4b-4c13-99af-5037dd5718c6 — Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Ledn is the leading platform for Bitcoin-backed loans, offering a secure and transparent way to unlock liquidity without selling your Bitcoin. Ledn has issued over $9 billion in loans since 2018 and has never lost a single satoshi of client assets, earning a reputation as the name you can trust in the crypto space. Visit https://www.ledn.io/ to learn more. — Timestamps: (00:00) Introduction (01:38) Is Bitcoin Mainstream? (03:50) Saveourwallets.org (07:49) Bitcoin Rights (10:31) Ledn Ad (11:08) Why Wallets? (12:10) Next Steps (14:53) Tackling Regulation (17:21) Bitcoin Payments & Lightning (22:08) Is Bitcoin Special? (25:51) Is Bitcoin Decentralized? (28:37) Multiple Bitcoin Implementations (32:39) Ledn Ad (33:26) Bitcoin’s Roadmap (36:36) Bitcoin's Vision & Leadership (39:47) Bitcoin Price vs Tech Development (45:17) Bitcoin L2s & Non-Custodial Wallets (52:46) Debating “Valid” Transactions (01:01:23) Node Runner Rights (01:02:47) Bitcoin Maximalism (01:06:36) Bitcoin’s Values & Culture (01:14:18) Final Thoughts — 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.