Bitcoin: Ownership and Custody
summary
Argues that true Bitcoin ownership requires self custody, not exchange accounts, citing exchange hacks, account takeovers and insolvencies as real risks and naming account-level hacks that drain balances and platform bankruptcies like FTX as examples. Describes a non-electronic metal card cold storage product from Ballet that needs no setup, uses the BIP38 open standard, supports Bitcoin and thousands of tokens, and claims over $600 million stored on these cards worldwide plus collectible physical coins in 1 mBTC and 0.1 BTC denominations.
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chapters (11)
- 0:00Ownership and custody intro
- 1:16True Bitcoin ownership
- 2:39Identity-based ownership problems
- 5:25Cash and fiat limits
- 6:49Self-custody matters
- 7:11Exchange risks
- 8:42Cold storage challenges
- 10:26Ballet cold storage
- 11:30Physical Bitcoin and Ballet
- 12:58Avoid complex solutions
- 13:41Summary
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