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Citadel Dispatch
CD110: Bitcoin Park Party Rip with Harry, Sahil, and Josh
Sep 13, 2023
In this episode, the host and three guests engage in lighthearted conversations covering various topics such as weather, Bitcoin maximalism, and a trivia game. They discuss the taproot proposal, drive chains in Bitcoin, and the importance of patience. They also talk about custody in Bitcoin, the chaotic nature of social media, cooking steak, and the significance of quality ingredients. The episode ends with a discussion on closing channels and a sponsor mention.
01:46:23
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Quick takeaways
- Self-custody of Bitcoin reduces risks associated with third-party custodians.
- Drive chains may introduce complexity and potential risks to the Bitcoin network.
Deep dives
Swann and the Fortress Hole in the Balance Sheet
Swann, a Bitcoin company, used Fortress as its back end for custody services, but Fortress had a hole in its balance sheet. Ripple stepped in to potentially bail them out, but due diligence is still being conducted. While Swann argues that they constantly advocate for self-custody, it raises the question of whether that absolves them from potentially reckless custodial decisions. On the other hand, the simplicity and reliability of self-custody is highlighted, urging individuals to hold their own Bitcoin and avoid the risks associated with third-party custody solutions.
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