From Banker to Bitcoin Rebel: My 20-Year War Against the Banking System | Daniel Prince interviews Simon Dixon on The Once Bitten Podcast

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Hey hey Bitcoin Wealth Builders!

It's Simon Dixon here, and I wanted to give you the TLDR rundown on my recent 2 hour and 19 minute chat with Daniel Prince on the Once Bitten Podcast. This deep dive was recorded on Thursday 18th September 2025. I think you'll really enjoy it.

Setting the Scene: From Monetary Reform to Proof of Weapons

We covered some serious ground, starting with my personal entry into this space, right back to the pre-Bitcoin days. I shared stories about my monetary reform work and my failed attempt to create a non-fractional reserve bank in the UK. The Bank of England effectively told me my model—where customers owned their segregated money and could direct its flow—was "too safe for customers". They demanded £60 million and insisted I build my tech on top of Barclays, which would have put all customer funds under Barclays' control.

It was realizing the system was fixed that opened the door to Bitcoin. I met early developers like Johnny Bitcoin in a squat in Old Street (this was pre-$1 Bitcoin, when it was still measured in cents!). I spoke at the world’s first Bitcoin conference in Prague in 2011, where I saw the price crash 90% in front of my eyes, but I still walked away with five physical Bitcoins for £25. I realised then that Bitcoin solved all the problems that the legacy banking system refused to fix.

After the UK establishment (including Boris Johnson) laughed me out of the room and then attempted to kill our Bitcoin strategy via Operation Chokepoint 1.0 (executed by the Bank of England against the Isle of Man), I knew this fight was bigger than regulators.

This brings us to the core of the black pill truth we discussed: The Proof of Weapons Network (P.O.W.N.).

The Debt-Based Ponzi Scheme and the Proof-Of-Weapons-Network

The entire fiat currency system is inherently immoral and unethical. It’s not broken; it’s working perfectly as designed to enrich the few.

1. The Engine of Debt: Every single pound, euro, or dollar is created only when someone borrows it into existence. There are no reserves; banks create money based on demand for borrowing.
2. The Inevitable Implosion: The money required to pay the interest on that debt doesn't exist. This means the debt can only ever be repaid by issuing more debt. This structure is a debt-based Ponzi scheme guaranteed to implode. This mechanism was perfected by the Bank of England in 1694 and later implemented in the US via the Federal Reserve in 1913.
3. The Proof of Weapons Network (P.O.W.N.): The collective mechanism used to perpetuate this debt-based system and prop up the dollar. P.O.W.N. weaponizes everything: the military-industrial complex, finance (hyper-financialization and securitization), technology, and the media.

The modern face of the P.O.W.N. is the Financial Industrial Complex. Companies like BlackRock, State Street, and Vanguard are the largest shareholders in nearly all major public companies (20,000+). They gain control through massive ETFs, constant buy pressure, and installing their board members. BlackRock, in particular, has become the "CEO" of the P.O.W.N., managing US fiscal and monetary policy using its AI technology, Aladdin.

The Deep State (CIA, Mossad, etc.) works directly for these corporations, agitating wars to maintain global dollar demand. The ultimate goal is financial and military vassalization, leading to the installation of a technocratic surveillance state backed by Digital ID and Central Bank Digital Currencies (CBDCs).

The Threat to Bitcoin: Operation Chokepoint 2.0 and the Bitcoin Industrial Complex

Bitcoin, or Proof of Work, is the resistance. It is the only thing we have that offers digital scarcity (21 million fixed supply), self-custody, and permissionless transaction capabilities.

The P.O.W.N. knows they cannot destroy Bitcoin, so they are trying to co-opt it through the creation of a Two-Tiered Bitcoin system.

1. The Purge: Operation Chokepoint 2.0 was a coordinated effort to create and bankrupt the centralized crypto lending platforms (FTX, Celsius, Voyager, BlockFi) and crypto-friendly banks (Silvergate, Silicon Valley Bank, Signature). This cleared the field.
2. The Co-option: This purge paved the way for the Wall Street institutions to step in, notably with the Bitcoin ETFs (successfully launched in January 2024).
3. The Trap: The Bitcoin Industrial Complex aims to convince you not to hold Bitcoin in self-custody. Instead, they want you to buy ETFs or shares in Bitcoin Treasury Companies. These corporate shares carry counterparty risk with the brokerage and the CEO, and they validate the debt-based fiat system by providing a bridge for Wall Street money.

We also discussed the current Core vs. Nots debate, highlighting the crucial need for competing implementations in the developer community. This is because the P.O.W.N. will try to corrupt or exert leverage over centralized choke points—whether that is key developers or mining hubs (like those setting up shop in Texas). We cannot be ignorant enough to believe Bitcoin is immune to Wall Street attacks.

The Orange Pill: How to Fight Back

The vote that matters is your money. By following these simple steps, you can boycott the Proof of Weapons Network:

1. Boycott the Fed: Own Bitcoin (Proof of Work).
2. Boycott Wall Street: Own your Bitcoin in self-custody. Learn this skill—it's essential for your future financial and personal sovereignty.
3. Boycott Debt: Do not borrow against your Bitcoin. Pay yourself first and accumulate Bitcoin every single month.
4. Conscious Spending: Devest from the stock market and global corporations. Support local farmers and community businesses.
5. Be Conscious: Use your money to support decentralization, not centralization.

We are either heading toward a 1984 Orwellian CBDC surveillance state or toward Bitcoin. Vote with your money and make sure you are securing the only property you can truly own: Bitcoin in self-custody.

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Disclaimer

The content and opinions expressed herein are strictly those of Simon Dixon and are derived from the interview recorded on 18th September 2025. This blog post, written in the style of Simon Dixon, reflects personal analysis regarding monetary history, geopolitical structures (including the Proof of Weapons Network), and the future adoption of digital currency. Simon Dixon does not endorse or validate any opinions, statements, or claims made by Daniel Prince or the Once Bitten Podcast in the context of this interview or elsewhere. This information is for entertainment and educational purposes only and should not be construed as financial or legal advice. Engaging with digital assets involves significant risk, and readers should conduct their own thorough due diligence. Readers should also be aware that discussions involving geopolitics, intelligence operations, and centralized control mechanisms are based on theories and attempts to follow the money, and not all information may be confirmed factually.