I asked Bitcoin Twitter a simple question this week: if you own meaningful Bitcoin, which worries you more, a 50% price drop, or losing access to it?

Almost everyone said losing access. The thread is worth reading: https://x.com/jakewoodhouseio/status/2069199376166301735

One reply put it simply: a 50% drop means you've lost half. Losing access means you've lost it all.

That's what this episode is about.

I recently reviewed one of my own Bitcoin setups and found a gap. A vault I'd created that wasn't properly documented; specifically the derivation path required to rebuild it independently if my provider disappeared. I've been doing this for over a decade and still found a problem.

That's a provider dependency: when your recovery process depends on a specific company, software, or service remaining available.

In this episode I cover what that actually means in practice: a friend's Sparrow update prompt and why pausing before clicking yes was the right instinct; the AUSTRAC Travel Rule coming into effect in Australia on 1 July 2026; a Ledger that died inside a 2-of-3 multisig and turned it into a 2-of-2 overnight; and the questions every Bitcoiner should be able to answer about their own setup right now.

Self-custody is not a destination. It's a process.

If your family cannot recover your Bitcoin without you, you have a Bitcoin dependency. If you cannot recover your Bitcoin without your provider, you have a provider dependency. Both are worth solving.

jakewoodhouse.io/bca