# EP62 The Power Laws of Bitcoin - The Core and Bubbles with Stephen Perrenod

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Text version: https://stenobird.com/podcast/navigating-bitcoin-s-noise-4356332/ep62-the-power-laws-of-bitcoin-the-core-and-bubbles-with-stephen-perrenod.md
Podcast: [Navigating Bitcoin's Noise](https://stenobird.com/podcast/navigating-bitcoin-s-noise-4356332)
Published: 2025-07-12T01:40:55+00:00
Episode link: https://www.spreaker.com/episode/ep62-the-power-laws-of-bitcoin-the-core-and-bubbles-with-stephen-perrenod--66951064
Audio file: https://dts.podtrac.com/redirect.mp3/api.spreaker.com/download/episode/66951064/ep62_the_power_laws_of_bitcoin_the_core_and_bubbles_with_stephen_perrenod_1.mp3
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Duration seconds: 6481

## Resource

Welcome to Navigating Bitcoin’s Noise , the podcast where we cut through the clutter and bring you the clearest insights on Bitcoin. I’m your host, Kane McGukin, and today I’m joined by a former astrophysicist turned Bitcoiner, Stephen Perrenod. In this episode, Stephen walks through the math behind Bitcoin’s power law and shares his views on the emergence of the world’s first money backed by energy. If you’re tired of hype and unreliable price predictions but want to understand Bitcoin from a first-principles lens, this episode is for you. So, sit back, relax, and let’s get started. Kane McGukin X: https://twitter.com/kanemcgukin kanemcgukin.substack.com Stephen Perrenod X: https://x.com/moneyordebt Substack: https://stephenperrenod.substack.com/

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## Transcript

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