Back on the Chain

Fundamentals, Jason

A podcast that explores the deep connections between Phish's lyrics and the creation of Bitcoin, based on the blog posts of Fundamentals Fundamentals Blog Post https://risk-fundamentals.ghost.io/phish-and-bitcoin-a-continuum-of-genius-network-effects-and-unintentional-foreshadowing/ Fundamentals X: @Fundamentals21m nostr: npub12eml5kmtrjmdt0h8shgg32gye5yqsf2jha6a70jrqt82q9d960sspky99g Jason nostr: npub19l2muzvelq07kfx8glfqmpf8jdcj2xp733rhjfc05t2g2mt9krjqrae40w

  1. Jul 30

    1994 Came Back!! w/ Asher

    In this episode, we dive into Phish’s remarkable MSG run and bring back our friend Asher for some firsthand perspective after catching nights two and three. From the jump, we talk about how uncanny it felt to have just done an episode on 1994 before Phish unveiled a run built around revisiting the spirit of the early-to-mid ’90s. We get into why this tour feels different, why the Madison opener already hinted that something special was happening, and how the band seems to be honoring those classic years without simply imitating them. We spend time on the energy, the speed, the song placement, and the way old tunes like “Punch You in the Eye,” “Llama,” “Chalk Dust Torture,” “2001,” “Horn,” and even “Bouncing Around the Room” are being approached with fresh life and surprising volatility. We also unpack the experience inside the room at MSG, including the night-four sound outage during “Wolfman’s Brother,” the crowd reaction, and the sense that Phish can still leave even seasoned fans feeling overwhelmed in the best possible way. Along the way, we reflect on what makes this band such a lasting benchmark for greatness: their peak years, their longevity, Trey’s evolution, and the fact that they continue to find new ways to challenge themselves and their audience. We close by debating whether this retro-themed concept could continue into future MSG milestones, and we briefly touch on the difficult situation surrounding Jake Cinninger and Umphrey’s McGee, what his absence means for that band, and why certain players simply can’t be replaced. In this episode, we jump back on the mic with returning guest Asher to break down the Phish MSG run, with a special focus on the 1993 and 1994-themed nights that he caught in person. From the host’s perspective, this run felt too significant not to cover: a rare moment where the band seemed to honor its early peak years without simply becoming a nostalgia act. We talk through the surprising precision, speed, and energy of the performances, how songs like “Punch You in the Eye,” “Llama,” and “Chalk Dust Torture” seemed to channel the spirit of those years, and why this whole tour feels like a real leap forward rather than just another strong stretch. We also dig into how Phish keeps finding new jam pathways in older songs, why this particular MSG concept worked so well, and what it says about where the band is creatively right now. We also get Asher’s firsthand account of the 1994 night at MSG, including the sound outage during “Wolfman’s Brother,” the unusual intensity of the extended second set, and that post-show feeling of being completely full after seeing a band hit such a high level. Along the way, we zoom out into a broader conversation about Phish’s longevity, Trey’s evolution as a player and person, the tension between nostalgia and reinvention, and whether this MSG concept could continue into future milestone shows. We wrap with a side conversation on Umphrey’s McGee and what Jake Cinninger’s absence might mean for that band’s future, but the heart of this episode is really about witnessing Phish continue to redefine what greatness can look like decades into the game.

  2. Jul 8

    1994 is Never Coming Back. Now What?

    In this episode, I sat down with Jason and picked up the thread after our run of Sphere recaps, reflecting on what felt like the end of a chapter for the show and wondering what comes next. From there, we dove deep into Phish eras, especially why 1994 continues to feel so pivotal to me: the band had fully mastered its songbook in 1993, then spent 1994 pushing into experimentation while still sounding hungry, sharp, and full of possibility on the way to their first Madison Square Garden show. We also talked about how nostalgia shapes the way fans rank tours, why summer ’95 feels like an odd lull before the blastoff of fall ’95, and how moments like MSG in ’94 and Big Cypress in ’99 can define entire turning points in the band’s story. I also went down a long rabbit hole on Trey’s guitar evolution and whether it really happened in isolation from the wider guitar world of the 1980s and early 1990s. We talked about the age of shredders, from Randy Rhoads and Eddie Van Halen to Nuno Bettencourt, Vito Bratta, Joe Satriani, Steve Vai, and Marty Friedman, and I argued that it’s hard to believe Trey wasn’t absorbing some of that energy as he developed into “machine gun Trey” before later shifting toward a more textural, band-oriented style. Along the way, we connected those ideas to grunge, tone-based guitar music, reaction-video culture, and the strange feeling of realizing that neither the 1990s version of Phish nor the broader musical world that shaped them is ever coming back. It was part music history, part fan therapy, and part celebration of what made those eras feel so alive in the first place.

  3. May 19

    Sphere Recap #4: SnubHub w/ Asher

    In this episode, we're joined by returning guest Asher to relive our Phish-at-the-Sphere adventure that collided with Bitcoin week in Vegas. We unpack the pre-show chaos at security that spiked the anxiety meter, how it shaped the vibe walking into Night 1, and why optimizing your show flow (bathroom timing, crowd avoidance, section neighbors) matters when you’re tripping. Asher gives a vivid seat-level account of the 400s: the unexpectedly perfect sightlines, the mini-community that formed over three nights, and the visuals that stole the show—from CK5’s jaw-dropping real-time “wall of light” rig to the Gamehendge animations and the hilariously psychedelic Meatstick “hot dog planet.” We compare notes on the Thursday set (great moments but not the weekend’s peak), why Friday felt like the true climax, and how the Sphere subtly shifts Phish’s musical calculus. We also go deep on the long-running “Dead snub?” debate—Baker’s Dozen omissions, Rock & Roll Suicide as an encore on Jerry’s birthday, and the enduring choice not to cover the Dead post-Fare Thee Well (outside of special circumstances). From ordinals as on-chain keepsakes of the Vegas crew to the delicate dance between band, crowd energy, and the wider culture, we trace the connective tissue between music, tech, and scene dynamics. We close with plans for summer tour, a Lake Satoshi reunion, and an open invite to more of the crew to jump on future recaps.

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About

A podcast that explores the deep connections between Phish's lyrics and the creation of Bitcoin, based on the blog posts of Fundamentals Fundamentals Blog Post https://risk-fundamentals.ghost.io/phish-and-bitcoin-a-continuum-of-genius-network-effects-and-unintentional-foreshadowing/ Fundamentals X: @Fundamentals21m nostr: npub12eml5kmtrjmdt0h8shgg32gye5yqsf2jha6a70jrqt82q9d960sspky99g Jason nostr: npub19l2muzvelq07kfx8glfqmpf8jdcj2xp733rhjfc05t2g2mt9krjqrae40w