Thousands of careful Bitcoiners just got wiped out by a Coldcard entropy bug, and I use this episode to push back hard on the idea that self-custody is dead, and "don't trust, verify" failed us.
I walk through the brutal history of centralized custodial failures, explain why "holding your own keys is still orders of magnitude safer, and extract three real lessons from this recent disaster. This is about keeping perspective, learning the right lessons from pain, and making Bitcoin self-custody stronger, not weaker.
Chapters
(00:00:00) - Intro
(00:00:41) - Is self custody pointless
(00:03:07) - Only tradeoffs exist
(00:05:16) - History of exchange hacks
(00:08:27) - Custodial total losses
(00:08:27) - Not your keys
(00:09:35) - Coldcard loss in context
(00:10:55) - Bitcoin as antifragile
(00:11:46) - Open vs source available
(00:12:39) - Audits and entropy
Affiliate Links
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Host Links
Guy on Nostr (Link: http://tinyurl.com/2xc96ney)
Guy on X (Link: https://twitter.com/theguyswann)
Guy on Instagram (Link: https://www.instagram.com/theguyswann)
Guy on TikTok (Link: https://www.tiktok.com/@theguyswann)
Guy's Takes on YouTube (Link: https://www.youtube.com/@GuysTake)
Guy Swann on YouTube (Link: https://www.youtube.com/@theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)
The Guy Swann Network Broadcast Room on Keet (Link: https://tinyurl.com/3na6v839)
References from the episode
Forbes: https://urlfy.org/RDRfIkQ
Bitcoin Magazine: https://urlfy.org/mcBm04r
Crypto Briefing: https://urlfy.org/wmWw1di
Okumaru Goro: https://urlfy.org/KJW9ATL
Crypto Briefing: https://urlfy.org/13bbT8t
Coldcard Hack Tracker: https://urlfy.org/9CIZMk8
Coinkite Blog: https://urlfy.org/4OAm8cd
Bitcoin Stack Exchange: https://urlfy.org/Yn4V8o8
Technology Innovators: https://urlfy.org/YU4yHhe
NVK.wtf: https://urlfy.org/e6FRNTR
DanB Blog: https://urlfy.org/WqQKqCm
BitBox Blog: https://urlfy.org/mlJe2ct
Bitcoin Well: https://urlfy.org/jyosFLM
Lopp Blog: https://urlfy.org/UQGBXZP
Crypto University: https://urlfy.org/DoHZ1ca
OneKey: https://urlfy.org/nBMCpX0
Spark Money: https://urlfy.org/c1WCJBu
Spiral Substack: https://urlfy.org/Pdm0e5a
GitHub: https://urlfy.org/P3mkfhF
BBC: https://urlfy.org/OVg8W2B
Reuters: https://urlfy.org/oir88KO
The Independent: https://urlfy.org/Smd5e7W
CoinDesk: https://urlfy.org/1EGotje
YouTube: https://urlfy.org/0yjQMzO