The Mining Disrupt News Surge episode for Monday, November 10, 2025 went out during expo week. In about 48 hours, the Mining Disrupt Expo would kick off in Dallas, Texas at the Irving Convention Center, and the host expected it to be even bigger than Fort Lauderdale earlier in the year, which had been the biggest yet. The host also asked viewers to like, subscribe and hit the bell so they catch each episode as it goes live.
The host was set to moderate at least a couple of panels. Before Fort Lauderdale the host had never done real stage work, but by the end of those days the nerves had faded and the host was looking forward to getting back on stage. As always, the show is for financial entertainment and education, not advice.
Then the numbers. Bitcoin was at 102,000 after briefly dipping under 100,000 into the 99 range. Fees were still low, the mempool held 58,000 transactions, about 24,000 nodes were online, and hashrate was still over a thousand exahashes, in the zettahash range. When this episode was posted, Bitcoin traded at $106,160; on October 12, 2026 it was $83,316.
When the Government Turns Back On
The message of the week, the host said, was that things were going to get very goofy once the US government reopened. The host read a post from Luke Gromen describing Bitcoin as one of the last functioning smoke alarms of liquidity, and arguing that its moves since October 6 were a warning that a repeat of the third quarter of '22, the first quarter of '23 and the third quarter of '23 had begun: the dollar index up, stocks down and bonds down until liquidity returns.
The host explained the idea in plain terms. The many streams through which governments normally push liquidity into the system were largely switched off during the shutdown. Without that flow, people who need money sell, and that helps explain the dips. When the people in charge turn the government back on, the host expects that liquidity to come flooding back. Pointing to filibuster news on screen, the host said people were sick of the shutdown and wanted the government, and their money, back on. The host also had a short video coming out later that week about the system being addicted to streams of liquidity.
The host also marveled at how things have changed. Bitcoin had just dropped to about $100,000 and bounced back over it. Saying that Bitcoin dropped to 100,000 would have sounded crazy five years ago.
Quantum Noise in a Downturn
Meanwhile, the latest worry was quantum computing, with claims that quantum computers would hack any wallet within two years, by 2027. The host shared a reply from an account called zero knowledge goof pointing out that people who were short had started posting a flood of quantum slop a few days earlier.
I don't know who you think can make a quantum computer, but it's not Bob in his basement.
The host · 4:01
When markets are down and people are bored or angry that prices are not going straight up, the host said, they find other things to complain about. Building a quantum computer is nation state level work, not something Bob does in his basement or even a Russian bot farm, and nation states are not going to be focused on your Bitcoin wallet. For the near and long term, the host thinks holders are pretty safe.
Zoom Out
The host then turned to Roberto Rios, one of the host's favorite macro analysts, who once spent about an hour talking Bitcoin with the host and the host's father simply because he is a swell guy. His post said long term macro truths beat short term trading action: those who bought gold and Bitcoin five years ago are up massively, and those who bought bonds lost.
The lesson is the same every time, the host said. Zoom out. The day to day rarely matters. What matters is how the years add up over decades, and we are in the middle of economic change.
Square Bitcoin Day
The host called the next item some of the biggest news in Bitcoin in a while. A post from Joe Nakamoto announced Square Bitcoin Day: as of that day, November 10, any Square merchant in the US could opt into accepting Bitcoin. Square has 4 million US merchants, the post noted, and asked what would happen if even a tenth of a percent, or 1%, opted in. The host called it genuinely huge news.
The host plans to test it personally. Both cigar shops the host likes, one of them a wonderful spot with tobacco, pipes and the full spread, take payment through Square, so the next visit will start with a question: do you accept Bitcoin? If the answer is no, the follow up is why not, and that at least starts the conversation. A merchant might then wonder how it works and why anyone would want Bitcoin, starting with the fact that the government cannot print it.
And where better to get Bitcoin questions answered, the host asked, than at the Mining Disrupt Expo. The pre-party was about 24 to 36 hours away, with doors opening Wednesday. The host urged viewers to check out the speaker lineup, joked about who was moderating some of the panels, and promised to be back the next week to recap the sights, the sounds and the people met in Dallas.