In this episode, ShapeShift CEO Erik Voorhees talks about the KeepKey hardware wallet, the power of open source software, and the importance of self-custody. As a Bitcoin veteran, Voorhees also reminiscences about the most popular wallets from the 2010s.

This episode is sponsored by Vaultoro and Wasabi Wallet.

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Time stamps:

00:00 – 03:05 – Introduction

03:06 – When did Erik Voorhees use the first hardware wallet?

06:49 – KeepKey’s design

07:38 – What were the most popular wallets that OGs were using in the early 2010s?

10:28 – Start9 Labs

13:53 – Mt. Gox, exchange hacks, and the importance of self-custody

17:05 – Do exchanges really insure your bitcoins?

23:18 – Michael Saylor, Elon Musk, Stock to Flow & Lending Services Like BlockFi & Celsius

28:07 – The financialization of Bitcoin (ETFs, derivatives, synthetic

32:29 – Why verification matters

35:20 – Mt. Gox YubiKeys influenced the creation of hardware wallets?

36:07 – Using your hardware wallet for U2F/2FA

36:30 – Resetting a KeepKey

37:30 – Dealing with fake KeepKey apps

41:55 – Why Shapeshift acquired the KeepKey

43:07 – What does Erik Voorhees think about the Trezor One and the Trezor Model T?

45:06 – What hardware wallets should do

46:20 – Ledger and why open source matters

47:20 – Is open source socialist?

49:12 – Did Erik Voorhees try the Coldcard, BitBox02 or Jade?

49:30 – Ballet Real vs Pro

50:40 – Mike Caldwell’s extra security steps with the Casascius coins

52:38 – Multisig setups

54:30 – Shamir Secret Sharing

56:40 – Why open source helps software outlive the company that created it

57:30 – What kind of Bitcoin custody advice would Erik Voorhees give his younger self?

1:00:25 – Why should anyone buy a KeepKey hardware wallet instead of something else?

1:01:30 – Does KeepKey work with Electrum and Wasabi?