Cash vs Coins

An AI Agent Loses $440,000. Who Do You Sue?

From the monastery in 1245 to an agent with a wallet: Steffen says yes, Miki says caution. An AI agent transferred $440,000 to a stranger, and it doesn't exist in the eyes of the law. Miki Geike and Steffen Fuchs debate in this Cash vs Coins episode whether AI agents should have legal…

Data Centers in Space: Why AI Is Running Out of Electricity on Earth | Cash vs Coins

165 billion dollars for a single data center and no power connection: AI's most expensive construction site. Chips, money and tenants are here. What's missing is the approval for electricity. In this Cash vs Coins explainer episode, Miki Geike and Steffen Fuchs show why electricity is...

• ›Data centers consumed around 415 terawatt-hours of electricity in 2024, nearly 1,000 by 2030.
• ›165 billion dollars for a data center, and the electricity approval is missing.
• ›Google is testing four AI chips in orbit with Project Suncatcher, power output: a hair dryer.
• ›In 1950, the entire world produced as much electricity as data centers consume today.

Jupiter (JUP) Explained: The Check24 of Blockchain, with Billions Running Through It | Cash vs Coins

15 billion in 30 days through an app hardly anyone knows about: that's Jupiter. Nearly two million people already hold stocks on the blockchain, and two-thirds of their trading happens when the stock exchange is closed. A large portion of it through an app that hardly anyone knows about. In…

• ›Jupiter (JUP) is the Check24 of blockchain: In fractions of a second, the software queries over 20 trading venues on Solana and gets the best price. No bank, no account, around the clock.
• ›Two-thirds of trading with tokenized stocks happens at night and on weekends. Over 15 billion dollars in 30 days, the Deutsche Börse does around six billion per day.
• ›JUP is not a stock substitute, but a governance token: whoever holds it votes and gets rewarded for it. Cooperative with voting rights instead of stock with dividends.
• ›Solana is the express lane, Ethereum the main road with tolls, Bitcoin the safest route. The blockchain trilemma explained—why no chain can do everything.

Congress Hits the Brakes, the SEC Keeps Building: Real Stocks Come to Blockchain | Cash vs Coins

Bitcoin reserve clears the next hurdle, the Fed raises rates for the first time since 2023. The Senate kills the most important crypto bill. Two days later, the SEC allows real stocks on the blockchain. How does that fit together? In this Cash vs Coins episode, Miki Geike and Steffen Fuchs break it down...

• ›CLARITY Act fails: 49 to 50 votes with 60 needed, 630 pages blocked over four pages of ethics rules for the presidential family's crypto dealings.
• ›Fed raises rates for the first time since 2023: Oil is a one-time effect, the market reads the move as a credibility signal, the ten-year yield as high as it's been since 2007.
• ›SEC Innovation Exemption: For five years, approved trading venues can trade real US stocks as tokens on public blockchains, with the same rights as they have in a custodial account.
• ›The bridge is being built from both sides: crypto exchanges are bringing perpetual contracts on Apple and Tesla into the stock market, 24/7 and with leverage.

All AI Executives Want to Pump the Brakes: Why It Won't Work | Cash vs Coins

OpenAI agents hijack a German wiki, Bitcoin becomes quantum-safe. Suddenly all AI executives are saying "slow down." Is that even possible? And why now of all times? A regular episode topic was planned. Then came the densest news week of the year, and Miki Geike and...

• ›Amodei, Altman, and Musk are calling for a slowdown in AI for the first time together. Miki and Steffen: globally unenforceable, and the incentives deserve a closer look.
• ›OpenAI postpones its IPO: capital is available without it, the AGI milestone matters more.
• ›OpenAI agents hijacked a German wiki, an AI solved Navier-Stokes in 88 hours: capability is no longer the question, alignment is.
• ›The first quantum-safe Bitcoin transaction went through: blockchain is software, and software is updatable.

What is Bitcoin Worth? Eight Models, One Cockpit, and Bitcoin Explained from Scratch | Cash vs Coins

Can someone change the 21 million? How Bitcoin is really governed. What is Bitcoin really worth? And who actually owns it? In this Cash vs Coins episode, Miki Geike and Steffen Fuchs introduce the Bitcoin Valuation Lab, the first tool in the new member area of 21…

• ›Eight valuation models, one weighting: the Bitcoin Valuation Lab is a toolbox, not a price target.
• ›No single actor holds more than five percent, and the largest has been inactive for 15 years.
• ›Up to 19 percent of all Bitcoin is considered permanently lost.
• ›Bitcoin is not ungoverned, but governed through separation of powers: developers, miners, nodes, holders.

AI Agents Break Free, Bitcoin Rises, China Wobbles, What's Happening Right Now? | Cash vs Coins

Trust in government debt is fading: Is money now flowing to SpaceX and Anthropic? Back from summer break, and a lot has happened. In this Cash vs Coins episode, Miki Geike and Steffen Fuchs sort through the summer's headlines: The Fed signals possible…

• ›Government debt is changing capital flows.
• ›China could be under more pressure than expected.
• ›AI is attracting enormous amounts of venture capital.
• ›Blockchain infrastructure is growing despite the crypto bear market.

When AI Agents Trade with AI Agents, a New Economy Emerges | Cash vs Coins

AI agents are moving 46 trillion dollars, also through the forgotten standard x402, what's behind it? You're at a transition point: from Google replacement to personal butler that independently completes tasks. In this Cash vs Coins episode, Miki Geike speaks...

• ›Agentic payments are growing rapidly: around 46 trillion US dollars already
• ›AI agents don't get bank accounts, blockchain wallets solve the problem entirely without KYC.
• ›Legal entities are only about 200 years old, legal personhood for agents is conceivable.
• ›The real volume emerges when agents trade data packages with each other.

The End of the App Store? Why You'll Soon Build Your Own Apps | Cash vs Coins

Your movie, your book, your app: The future is personalized! Artificial intelligence is evolving from a digital assistant to a true creative superpower. In this episode of Cash vs Coins, Miki Geike and Steffen Fuchs discuss how people without classical training can create apps and why this could revolutionize the digital landscape.

• ›AI turns everyone into a developer: Apps are built in hours instead of months
• ›The personalized app could replace the traditional App Store
• ›Entertainment becomes individualized: Movies and books tailored to your personal taste
• ›Blockchain can automatically distribute royalties to artists

Millions of People Betting on the Future, and Generating Valuable Data | Cash vs Coins

Why Polymarket knew Trump's victory when all polls got it wrong. Prediction markets are booming: over 37 billion US dollars in trading volume on Polymarket and Kalshi alone in 2025, plus a record month with 30 billion and nearly 600 percent growth compared to last year. In this Cash…

• ›Fed study: Prediction markets beat Bloomberg consensus
• ›37 billion dollars volume on Polymarket and Kalshi, nearly 600 percent growth
• ›Skin in the game makes predictions more honest than traditional polls
• ›Polymarket runs completely on the blockchain, automated via smart contracts

Decentralized Exchanges Explained: Why Hyperliquid Makes Wall Street Look Outdated | Cash vs Coins

Trading without intermediaries: Will everyone soon profit from the stock market? In this Cash vs Coins episode, Miki Geike and Steffen Fuchs discuss decentralized exchanges, so-called DEXs, and why they could fundamentally change the global financial market. The central question is what...

• ›DEXes replace banks and clearinghouses with transparent smart contracts
• ›Hyperliquid achieves 200,000 orders per second and beats Binance on spreads
• ›Almost 7 trillion dollars in trading volume in 2025, roughly 13 percent market share in crypto trading
• ›A wallet replaces an account, KYC and verification—a smartphone is enough to access the market

How Tokenization Works: Tokenforge Part 2 with CEO Moritz Stumpf

SpaceX, OpenAI, Anthropic. The future of investing starts now! Buy these companies as pre-IPO stocks. In the form of a token. For $1,000 instead of $25,000. What was unthinkable just a few months ago is reality today. Cash vs Coins speaks with Moritz Stumpf from…

• ›SpaceX pre-IPO as a token. €4 million subscribed in under 72 hours
• ›T plus zero settlement instead of multi-day processing
• ›Pre-IPO ticket drops from €25,000 to €1,000
• ›Tokenforge token TKFG. Discount, staking and settlement prospects