Coordinator Trust, Liquidity, and Taint Risks

Seth is VP of Cake Wallet, a self custody bitcoin wallet available on ios, android, and desktop. We discuss their new offline companion app, Cupcake, and variety of other privacy related topics.

Seth on Nostr: https://primal.net/sethforprivacy
Seth on X: https://x.com/sethforprivacy
Cake Wallet: https://cakewallet.com/

EPISODE: 179
BLOCK: 916494
PRICE: 909 sats per dollar

(00:00:01) UK Digital ID Dystopia

(00:01:02) Happy Bitcoin Friday

(00:03:01) Samourai arrests fallout and Ashigaru vs Wasabi vs JoinMarket

(00:06:49) Coordinator trust, liquidity, and taint/frozen funds

(00:12:10) Cake Wallet updates and unveiling Cupcake signer

(00:15:36) How Cupcake works: air-gapped signer, BCUR/BBQR, threat models

(00:19:01) Travel, opsec, and device choices for Cupcake

(00:21:30) Cupcake’s scope vs hardware wallets

(00:25:21) Multisig discussions, open standards, and future features

(00:29:43) Single sig and practical custody advice

(00:30:29) Recent Monero Attack

(00:36:21) ASIC resistance debate and Monero reorg analysis

(00:41:02) Wild idea: switch Monero to Litecoin’s Scrypt ASICs

(00:43:19) Lightning in Cake Wallet: evaluating Ark vs Spark

(00:49:37) Spark’s pragmatism, privacy concerns, and operators

(00:56:40) Strike/Primal, Cashu, and custodial vs self-custodial tradeoffs

(00:58:56) Hands-on with Spark in Wallet of Satoshi beta

(01:05:02) Bitcoin privacy outlook: Silent Payments, PayJoin, Lightning

(01:06:14) Silent Payments UX: Frigate server model and performance

(01:09:17) Run your own node for privacy and practical setups

(01:09:51) Closing reflections: builders vs discourse, optimism