Your Bitcoin Isn't as Safe as You Think
Tyler Campbell spent years on Zoom calls walking people through their first hardware wallet, one seed phrase at a time, before moving to the product side at Unchained. That vantage point produces the argument at the center of this episode: almost everyone treats custody as something you buy once, and almost nobody treats it as something you rehearse. Cam pushes the comparison to gun ownership, where a person can own the right tool, attend one class, and still be useless in the moment that counts. Tyler's practical answer is smaller than people expect. Move a thousand dollars in. Move a thousand dollars back out. Do it before you need to. They also work through the privacy trade off of ever revealing yourself to a custody partner, what the entropy failure in the Coldcard exploit should actually change about your priors, why the lineage from Mt. Gox through FTX to Bybit is one repeated failure and not four, whether paying for custody is rational when you have been getting it free, and the conversation most bitcoiners avoid entirely: selling some of your bitcoin, and why Tyler is glad he did.
Chapters
00:00 - Two Bitcoiners, one Minneapolis meetup, ten years 01:19 - From private blockchains to bitcoin only 07:01 - Leaving Circle for Unchained in the Austin boom 14:42 - What collaborative custody actually is, and why onboarding is emotional work 20:53 - Eliminate your single points of failure 24:42 - The privacy trade off of using a partner 27:58 - Take it slow: move a thousand dollars in, then out 32:26 - You own the gun. You never went to the range. 35:52 - When the gold standard device is too much device 37:59 - The Coldcard hack: the entropy was not random 41:45 - Mt. Gox to FTX to Bybit: the same failure every time 44:51 - Do not get comfortable because the bullet missed you 47:21 - Should you actually pay for custody 51:15 - Still driving the car you bought ten years ago 54:22 - The cardinal sin: selling some of your bitcoin 59:58 - Bitcoin backed loans and what the rate tells you 1:07:31 - From onboarding calls to building the product 1:15:48 - Parting advice: tell a friend, try multisig
