Bitcoin Takeover Podcast

S15 E61: Polto & Darko on Self Custody Pro Tips


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Time stamps:
Introducing Polto & Darko (00:00:50)
Top Hardware Wallets (00:01:33)
Trade-offs in Multi-Signature Wallets (00:02:06)
Importance of Secure Elements (00:03:25)
Passphrase Usage and Security (00:04:37)
Confusion Around Passphrases (00:06:06)
Backing Up Passphrases (00:07:14)
BIP 39 and Passphrase Features (00:08:02)
Derivation of Wallet Addresses (00:09:39)
Standardization of HD Wallets (00:10:01)
Best Practices for Backups (00:11:19)
Verifying Recovery Procedures (00:12:06)
User Experiences with Backups (00:12:57)
Full Node Users (00:15:31)
Historical Context of Hardware Wallets (00:17:15)
Trade-offs in Hardware Wallet Design (00:18:15)
Open Source Developments (00:20:35)
Secure Elements and Verification Concerns (00:22:43)
Understanding Secure Elements in Wallets (00:22:48)
Ledger Wallet Features (00:24:08)
Using Seed Signer with Satochip Smart Cards (00:24:41)
Open Source Secure Element Development (00:25:53)
Challenges in Hardware Wallet Evolution (00:26:38)
Miniscript Support in Hardware Wallets (00:27:30)
Complexity of Multi-Signature Setups (00:28:45)
Standardization in Multi-Sig Wallets (00:29:46)
Experimental Nature of Taproot Mini Script (00:30:45)
Using Phones as Signing Devices (00:32:12)
Security of Bitcoin-Only Wallets (00:34:38)
Attack Surfaces in Multi-Coin Wallets (00:35:06)
Specter DIY vs Other DIY Wallets (00:39:10)
Entropy Modification in Seed Generation (00:40:04)
Trust Assumptions in Proprietary Devices (00:42:30)
Limitations of the Passport Wallet (00:43:50)
Introduction to Specter DIY Wallet (00:46:14)
Pricing of Specter DIY (00:46:43)
Development of Secure Element Boards (00:47:02)
Client Consultation for Bitcoin Security (00:48:03)
Multi-Signature Wallet Recommendations (00:48:30)
Considerations for Children Inheriting Bitcoin (00:50:21)
Using Liana for Bitcoin Management (00:51:00)
Risks of Pre-Signed Transactions (00:52:43)
Adapting to the Bitcoin Network (00:53:00)
ETF vs. Self-Custody (00:53:25)
Role of Co-Signers in Multi-Signature Wallets (00:53:58)
Future of Bitcoin and Exciting Innovations (00:57:59)
Concerns About Drivechains (00:58:45)
Consensus Mechanisms in Bitcoin (01:00:33)
User Activated Soft Forks (01:02:42)
Key Rotation in Multi-Signature Wallets (01:06:00)
Emerging Solutions in Multi-Signature Technology (01:06:41)
SLIP39 and Shamir Secret Sharing (01:08:05)
Shamir Secret Sharing Implementation (01:09:16)
Multi-Sig vs. Shamir (01:10:44)
Importance of Multi-Sig (01:12:01)
3-2-1 Backup Strategy (01:13:20)
Tamper Evident Storage (01:14:15)
Annual Backup Verification (01:15:24)
Using Passphrases with Multi-Sig (01:16:14)
Backup Complexity Risks (01:17:12)
Traveling with Backups (01:19:43)
Customs and Crypto Assets (01:22:08)
Workshops on Multi-Sig (01:25:14)
Node Importance in Bitcoin (01:25:53)
Hardware Wallet Recommendations (01:26:51)
Blockstream Green Discussion (01:29:07)
Trusted Co-Signers Network (01:31:27)
Legal Restrictions in Switzerland (01:31:37)
Contacting FINMA (01:32:08)
Frustrations with Regulatory Definitions (01:32:50)
Backup Principles (01:33:49)
Closing Remarks (01:34:12)
Recaping the Best Practices for Bitcoin Storage (01:34:26)
...more
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Bitcoin Takeover PodcastBy Vlad Costea

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