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Mar 4, 2021 · 16m · top-founders

Is This The Creator of Bitcoin? Crypto Fund Thinks So.

Zach Resnick · 10m spoken Nathan Latka · 4m spoken Frank Bien · 4s spoken
0:00 / 0:00

gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions

Zach Resnick, Managing Partner at Unbounded Capital, joins Nathan Latka to discuss his firm's 400% fund returns, their investment in Bitcoin SV's uncapped scaling architecture, and the controversial case for Craig Wright as Bitcoin's creator.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nathan holds 29.6% of the talking time here. How this is scored →

Nathan as informed peer 5.0 Guest teaching 4.0 Guest disagreement 1.8 Nathan pushing back 4.0
05100:0010:001:47–4:57 · Nathan as informed peer 4/10 Introducing Zach Resnick of Unbounded Capital Latka immediately confronts Resnick on his controversial thesis that Craig Wright is Satoshi Nakamoto. Resnick defends the position by rejecting the mainstream crypto media narrative and reframing Wright's lack of cryptographic proof as deliberate game theory.4:57–8:08 · Nathan as informed peer 6/10 Fund Architecture, Risk Management, and Performance Latka probes the fund structure and performance, calling out that a 400% return could easily be juiced if the asset base denominator is tiny. Resnick defends his probabilistic venture model while citing regulatory constraints on disclosing exact AUM.8:09–10:44 · Nathan as informed peer 4/10 The Scaling Problem and BSV Market Access Resnick educates Latka on blockchain scaling architectures, contrasting BTC's one-megabyte block limit with BSV's unbounded capacity. Latka brings the technical tangent back to practical terms by asking how ordinary retail investors can actually access BSV given Coinbase's delisting.10:46–15:01 · Nathan as informed peer 7/10 SaaS Disruption, Micropayments, and Data Ownership Latka actively bridges Resnick's micropayment concepts to SaaS paradigms, offering strong analogies around Twilio disintermediation and open data portability. Resnick validates and expands on the breakdown of centralized data monopolies.15:01–16:45 · Nathan as informed peer 4/10 The Famous Five Quick-Fire Questions Latka runs through his standard rapid-fire questions, lightly ribbing Resnick when he hesitates over choosing a CEO he studies. Latka closes by summarizing the episode's key takeaways.1:47–4:57 · Guest teaching 5/10 Introducing Zach Resnick of Unbounded Capital Latka immediately confronts Resnick on his controversial thesis that Craig Wright is Satoshi Nakamoto. Resnick defends the position by rejecting the mainstream crypto media narrative and reframing Wright's lack of cryptographic proof as deliberate game theory.4:57–8:08 · Guest teaching 3/10 Fund Architecture, Risk Management, and Performance Latka probes the fund structure and performance, calling out that a 400% return could easily be juiced if the asset base denominator is tiny. Resnick defends his probabilistic venture model while citing regulatory constraints on disclosing exact AUM.8:09–10:44 · Guest teaching 6/10 The Scaling Problem and BSV Market Access Resnick educates Latka on blockchain scaling architectures, contrasting BTC's one-megabyte block limit with BSV's unbounded capacity. Latka brings the technical tangent back to practical terms by asking how ordinary retail investors can actually access BSV given Coinbase's delisting.10:46–15:01 · Guest teaching 5/10 SaaS Disruption, Micropayments, and Data Ownership Latka actively bridges Resnick's micropayment concepts to SaaS paradigms, offering strong analogies around Twilio disintermediation and open data portability. Resnick validates and expands on the breakdown of centralized data monopolies.15:01–16:45 · Guest teaching 1/10 The Famous Five Quick-Fire Questions Latka runs through his standard rapid-fire questions, lightly ribbing Resnick when he hesitates over choosing a CEO he studies. Latka closes by summarizing the episode's key takeaways.1:47–4:57 · Guest disagreement 3/10 Introducing Zach Resnick of Unbounded Capital Latka immediately confronts Resnick on his controversial thesis that Craig Wright is Satoshi Nakamoto. Resnick defends the position by rejecting the mainstream crypto media narrative and reframing Wright's lack of cryptographic proof as deliberate game theory.4:57–8:08 · Guest disagreement 2/10 Fund Architecture, Risk Management, and Performance Latka probes the fund structure and performance, calling out that a 400% return could easily be juiced if the asset base denominator is tiny. Resnick defends his probabilistic venture model while citing regulatory constraints on disclosing exact AUM.8:09–10:44 · Guest disagreement 2/10 The Scaling Problem and BSV Market Access Resnick educates Latka on blockchain scaling architectures, contrasting BTC's one-megabyte block limit with BSV's unbounded capacity. Latka brings the technical tangent back to practical terms by asking how ordinary retail investors can actually access BSV given Coinbase's delisting.10:46–15:01 · Guest disagreement 1/10 SaaS Disruption, Micropayments, and Data Ownership Latka actively bridges Resnick's micropayment concepts to SaaS paradigms, offering strong analogies around Twilio disintermediation and open data portability. Resnick validates and expands on the breakdown of centralized data monopolies.15:01–16:45 · Guest disagreement 1/10 The Famous Five Quick-Fire Questions Latka runs through his standard rapid-fire questions, lightly ribbing Resnick when he hesitates over choosing a CEO he studies. Latka closes by summarizing the episode's key takeaways.1:47–4:57 · Nathan pushing back 5/10 Introducing Zach Resnick of Unbounded Capital Latka immediately confronts Resnick on his controversial thesis that Craig Wright is Satoshi Nakamoto. Resnick defends the position by rejecting the mainstream crypto media narrative and reframing Wright's lack of cryptographic proof as deliberate game theory.4:57–8:08 · Nathan pushing back 6/10 Fund Architecture, Risk Management, and Performance Latka probes the fund structure and performance, calling out that a 400% return could easily be juiced if the asset base denominator is tiny. Resnick defends his probabilistic venture model while citing regulatory constraints on disclosing exact AUM.8:09–10:44 · Nathan pushing back 4/10 The Scaling Problem and BSV Market Access Resnick educates Latka on blockchain scaling architectures, contrasting BTC's one-megabyte block limit with BSV's unbounded capacity. Latka brings the technical tangent back to practical terms by asking how ordinary retail investors can actually access BSV given Coinbase's delisting.10:46–15:01 · Nathan pushing back 3/10 SaaS Disruption, Micropayments, and Data Ownership Latka actively bridges Resnick's micropayment concepts to SaaS paradigms, offering strong analogies around Twilio disintermediation and open data portability. Resnick validates and expands on the breakdown of centralized data monopolies.15:01–16:45 · Nathan pushing back 2/10 The Famous Five Quick-Fire Questions Latka runs through his standard rapid-fire questions, lightly ribbing Resnick when he hesitates over choosing a CEO he studies. Latka closes by summarizing the episode's key takeaways.

speaking balance: gold is Nathan, purple is the guest (3 minute bins)

0:00 · Nathan 57.5% · guest 42.5%0:00 · Nathan 57.5% · guest 42.5%3:00 · Nathan 5.9% · guest 94.1%3:00 · Nathan 5.9% · guest 94.1%6:00 · Nathan 22.6% · guest 77.4%6:00 · Nathan 22.6% · guest 77.4%9:00 · Nathan 18.8% · guest 81.2%9:00 · Nathan 18.8% · guest 81.2%12:00 · Nathan 24.5% · guest 75.5%12:00 · Nathan 24.5% · guest 75.5%15:00 · Nathan 69.5% · guest 30.5%15:00 · Nathan 69.5% · guest 30.5%
Sharpest disagreement ▶ 3:05 Rejecting the fraudster narrative around Craig Wright

Resnick rejects mainstream crypto media characterizations of Craig Wright as a scammer, arguing there is no compelling counter-evidence and explaining Wright's financial disincentives to prove his identity.

 Hardest push from Nathan ▶ 7:28 Calling out vanity return percentages without AUM

Latka directly challenges Resnick's 400% return claim, pointing out that high percentage returns are easy to fabricate when deploying tiny initial capital sums.

 Biggest teaching moment ▶ 8:55 Explaining Proof-of-Work scaling constraints

Resnick explains the ideological roots of BTC's one-megabyte block restriction versus BSV's protocol-level scaling designed for petabyte throughput.

 Nathan holds their own ▶ 12:54 Connecting micropayments to SaaS API disintermediation

Latka demonstrates deep domain understanding by translating Resnick's blockchain infrastructure points into a concrete SaaS disruption scenario involving Twilio.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Introducing Zach Resnick of Unbounded Capital 4535 Latka immediately confronts Resnick on his controversial thesis that Craig Wright is Satoshi Nakamoto. Resnick defends the position by rejecting the mainstream crypto media narrative and reframing Wright's lack of cryptographic proof as deliberate game theory.
Fund Architecture, Risk Management, and Performance 6326 Latka probes the fund structure and performance, calling out that a 400% return could easily be juiced if the asset base denominator is tiny. Resnick defends his probabilistic venture model while citing regulatory constraints on disclosing exact AUM.
The Scaling Problem and BSV Market Access 4624 Resnick educates Latka on blockchain scaling architectures, contrasting BTC's one-megabyte block limit with BSV's unbounded capacity. Latka brings the technical tangent back to practical terms by asking how ordinary retail investors can actually access BSV given Coinbase's delisting.
SaaS Disruption, Micropayments, and Data Ownership 7513 Latka actively bridges Resnick's micropayment concepts to SaaS paradigms, offering strong analogies around Twilio disintermediation and open data portability. Resnick validates and expands on the breakdown of centralized data monopolies.
The Famous Five Quick-Fire Questions 4112 Latka runs through his standard rapid-fire questions, lightly ribbing Resnick when he hesitates over choosing a CEO he studies. Latka closes by summarizing the episode's key takeaways.

Statements from this episode (10)

Opinion
Zach Resnick believes Craig Wright is very likely Satoshi Nakamoto
“Most of our thesis and our focus on the reason we're really long BSV and not other blockchains comes from the technology of Bitcoin and is, doesn't have to do with Craig Wright, but yes, you are correct in that I do think that Craig Wright is very likely to be…”
Zach Resnick Mar 4, 2021 ▶ 3:06
Opinion
Zach Resnick sees no compelling evidence that Craig Wright is a fraudster
“I personally haven't seen any compelling evidence of him doing kind of unethical things or being a fraudster the way that a lot of those arguments are painted in kind of the crypto media.”
Zach Resnick Mar 4, 2021 ▶ 3:28
Assertion Not checkable as stated
Unbounded Capital did extensive legal diligence on Craig Wright
“We've done more legal diligence on this topic than any other party that I'm aware of.”
Zach Resnick Mar 4, 2021 ▶ 4:53
Disclosure
Unbounded allocates up to 80% of its Opportunity Fund to BSV startups
“About 70 to 80% of the capital that we take in gets invested into early stage ventures that are building on BSV, and that's, you know, kind of like a traditional venture fund”
Zach Resnick Mar 4, 2021 ▶ 5:18
Assertion Not checkable as stated
Unbounded's Opportunity Fund returned over 400% in under two years
“Since we've been investing in the BSV ecosystem, which has been a little under two years that opportunity fund is up over 400%.”
Zach Resnick Mar 4, 2021 ▶ 7:09
Prediction Not checkable as stated
Scalable, law-compliant blockchains will capture the vast majority of crypto value
“Not investing in the only blockchain that prioritizes scale versus trying to build networks and money that operate outside law and regulation is where the vast majority of the kind of value in the crypto or blockchain space will come from.”
Zach Resnick Mar 4, 2021 ▶ 8:22
Assertion Not checkable as stated
Bitcoin retains 1MB blocks to allow nodes to survive government crackdowns
“BTC, for example, the popular version of Bitcoin, Only allows its block size to be one megabyte because they want to make sure that everyone can kind of run the node software on their phone or computer in the event that government shut down all the professiona…”
Zach Resnick Mar 4, 2021 ▶ 9:12
Prediction Open · timeframe Mar 2026
Zach Resnick predicts Bitcoin SV will see petabyte-sized blocks
“And I think we're going to see petabyte blocks over the coming years.”
Zach Resnick Mar 4, 2021 ▶ 9:52
Assertion Not checkable as stated
Coinbase excludes Bitcoin SV due to the politics surrounding Craig Wright
“Well, they couldn't buy it on Coinbase because due to a lot of Politics around that Craig Wright guy that you mentioned there is not BSV available on Coinbase”
Zach Resnick Mar 4, 2021 ▶ 10:08
Assertion Supported
BSV transaction fees are currently between 1/50th and 1/100th of a cent
“With BSP today having transaction costs of between like one 50th and one a 100th of a penny, that allows for you know, being able to charge someone a cent and still make a good margin.”
Zach Resnick Mar 4, 2021 ▶ 12:43
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