In this conversation, Ben Kaufman discusses the evolving relationship between Bitcoin and government, the implications of political engagement for Bitcoiners, and the advancements in self-custody technology.

He introduces Miniscript, a programming language for Bitcoin that enhances the flexibility of spending conditions, and explores innovative use cases, particularly in inheritance planning.

The discussion also emphasizes the evolving landscape of Bitcoin self-custody, focusing on the security provided by Miniscript, the importance of emergency keys, and the role of Keeper in enhancing user experience.

Stephan and Ben also explore the challenges of self-custody, the need for education, and the catalysts that could drive more users towards self-custody solutions. The balance between security and usability is key, highlighting the advancements in technology that make self-custody more accessible to the average user.

Takeaways

🔸The Bitcoin community's relationship with government is evolving.

🔸There is a tension between wanting less government and engaging politically.

🔸Miniscript offers a flexible way to define spending conditions in Bitcoin.

🔸User experience in self-custody has significantly improved over the years.

🔸Innovative use cases for Bitcoin technology are emerging, especially in inheritance planning.

🔸Time locks can be managed through absolute and relative methods in Bitcoin.

🔸The setup process for advanced spending conditions is similar to multisig wallets.

🔸Miniscript allows for complex configurations that enhance security.

🔸The importance of backing up wallet configurations cannot be overstated.

🔸Understanding the protocol level of Bitcoin is crucial for security. Miniscript enhances the security of self-custody.

🔸Emergency keys provide a safety net for users.

🔸Redundancy is crucial in recovery solutions.

🔸User verification is essential for security.

🔸Keeper offers flexible options for emergency keys.

🔸Self-custody requires taking full responsibility.

🔸Education is key to increasing self-custody adoption.

🔸The landscape of self-custody is improving rapidly.

🔸Standardized templates for self-custody may emerge.

🔸Technological advancements are making self-custody easier.

Timestamps:

(00:00) - Intro

(01:04) - Bitcoin’s relationship with the government

(04:15) - Should governments be convinced not to buy altcoins?

(08:09) - What is the current landscape of Bitcoin self custody technology?

(11:20) - What is Miniscript?

(13:59) - What are some of the useful applications of Miniscript?

(16:12) - Sponsors

(17:47) - What are Time Locks and how do they work?

(23:42) - Setting up advanced spending conditions with Miniscript & Inheritance planning

(31:54) - Emergency keys & other Security models

(37:46) - Which devices support Miniscript?

(39:17) - What does Bitcoin Keeper offer?

(41:20) - The future of Miniscript adoption

(43:51) - Passphrases vs. Multisig

(45:31) - Sponsors

(49:13) - Why do normies avoid self-custody?

(1:01:15) - Catalysts for self-custody adoption

Links:

https://x.com/_benkaufman

https://x.com/bitcoinkeeper_

Sponsors:

Bold Bitcoin

CoinKite.com (code LIVERA)

Stephan Livera links:

Follow me on X: @stephanlivera

Subscribe to the podcast

Subscribe to Substack

Episode 7: McConnell's Man