Bitcoin Audible

***"The dollar is going to continue to lose purchasing power. Bitcoin is going to continue to gain purchasing power. It's going to keep on happening over the rest of the century. We will at some point have enough people that have most of their wealth in bitcoin that they don't have anything else to spend and they will start to spend their bitcoin. And when they start to encounter more people like them on the other side of the transaction, they will no longer convert to some other currency on the merchant side for that transaction."

~ Cory Klippsten***

Swan CEO Cory Klippsten and I explore how Bitcoin can win over the long run without requiring a dramatic dollar collapse or Weimar-style hyperinflation. We discuss why true medium-of-exchange use is likely a far-off phase that only comes after Bitcoin dominates as a store of value, how stablecoins have absorbed today’s payments demand, and what that means for builders.

We also tackle the Coldcard exploit and current self-custody tradeoffs, Swan’s spectrum from pure self-custody to multi-institution solutions, and the psychological grind of a boring bear market. Meanwhile, Bitcoin is quietly becoming the fastest horse in a three-way race with the U.S. dollar and gold. You just have to know what to look for.

Chapters

(00:00:00) - Introduction

(00:05:30) - Journalism and content creation

(00:22:07) - Deflation myths and Japan sound money misconceptions

(00:26:03) - M2 money demand and USD global dominance

(00:30:40) - Stablecoins dominating the Bitcoin payment industry

(00:38:47) - Atomic networks and merchant adoption

(00:49:09) - Ignoring Bitcoin price regression models

(00:51:56) - Fallout from the Coldcard exploit

(01:02:25) - Why companies must segregate data

(01:04:53) - Exploring collaborative Bitcoin custody solutions

(01:13:49) - Managing expectations during bear markets

(01:16:32) - How the 'decentralized' crypto industry simply rebuilt Wall Street

Guest Links

Cory Klippsten on X (Link: https://twitter.com/CorySwan/)

Swan Bitcoin's Website (Link: https://www.swanbitcoin.com/)

Outside Money with Cory Klippsten's YouTube playlist (Link: https://www.youtube.com/playlist?list=PLMTpYxqzjiK0)

Affiliate Links

Become sovereign, hold your keys, be censorship resistant with the Bitbox hardware wallet. Get 5% off everything in the store with code GUY (Link: https://bitbox.swiss/)

Get 10% off the best Bitcoin board game in the world, HODLUP! Or any of the other great games from The Free Market Kids! Use code GUY10 at checkout for 10% off your cart! (Link: https://www.freemarketkids.com/collections/games-1)

Host Links

⁠⁠Guy on Nostr ⁠(Link: http://tinyurl.com/2xc96ney)

⁠Guy on X ⁠(Link: https://twitter.com/theguyswann)

Guy on Instagram (Link: https://www.instagram.com/theguyswann)

Guy on TikTok (Link: https://www.tiktok.com/@theguyswann)

Guy's Takes on YouTube (Link: https://www.youtube.com/@GuysTake)

Guy Swann on YouTube (Link: https://www.youtube.com/@theguyswann)

⁠Bitcoin Audible on X⁠ (Link: https://twitter.com/BitcoinAudible)

The Guy Swann Network Broadcast Room on Keet (Link: https://tinyurl.com/3na6v839)

In this Take episode, I break down the “Great Hackening” ripping through Bitcoin right now – from Coldcard’s catastrophic entropy bug to Liquid’s recent 4,000 BTC exploit, Lightning implementation issues, and a few major wallet update and data breaches.

I also explain how AI has completely flipped the economics of attack and defense, why Bitcoin is the canary in the digital coal mine, and what practical steps you must take to protect your stack. This episode is a roadmap for surviving and ultimately benefiting from this brutal security stress test.

Chapters

(00:00:00) - The Great Hackening begins

(00:00:54) - Coldcard RNG catastrophe

(00:04:50) - Liquid's 4,000 BTC hack

(00:10:18) - BitBox vulnerability disclosure

(00:13:32) - Core Lightning bugs

(00:18:31) - LND and Eclair disclosures

(00:20:06) - Sparrow Wallet security hardening

(00:21:13) - Trezor and Ledger data breaches

(00:25:03) - AI and new attack economics

(00:30:29) - Hardening Bitcoin and sovereignty

Affiliate Links

Become sovereign, hold your keys, be censorship resistant with the Bitbox hardware wallet. Get 5% off everything in the store with code GUY (Link: https://bitbox.swiss/guy/)

Get 10% off the best Bitcoin board game in the world, HODLUP! Or any of the other great games from The Free Market Kids! Use code GUY10 at checkout for 10% off your cart! (Link: https://www.freemarketkids.com/collections/games-1)

Host Links

⁠Guy on Nostr ⁠(Link: http://tinyurl.com/2xc96ney)

⁠Guy on X ⁠(Link: https://twitter.com/theguyswann)

Guy on Instagram (Link: https://www.instagram.com/theguyswann)

Guy on TikTok (Link: https://www.tiktok.com/@theguyswann)

Guy's Takes on YouTube (Link: https://www.youtube.com/@GuysTake)

Guy Swann on YouTube (Link: https://www.youtube.com/@theguyswann)

⁠Bitcoin Audible on X⁠ (Link: https://twitter.com/BitcoinAudible)

The Guy Swann Network Broadcast Room on Keet (Link: https://tinyurl.com/3na6v839)

References from the episode

Liquid docs:

https://tinyurl.com/4344k3j9

https://tinyurl.com/yc88rx74

https://tinyurl.com/4cxy9z7t

Liquid Network Hack: https://tinyurl.com/464h9xdk

Liquid Network incident update: https://tinyurl.com/mw7r8ss6

BitBox 08.2026 Dixence: https://tinyurl.com/zma42ps9

LND vulnerability disclosures:

https://tinyurl.com/3j8m5vr5

https://tinyurl.com/248s2faa

Eclair v0.14.2: https://tinyurl.com/2j3vzme4

Sparrow v2.5.4: https://tinyurl.com/cpeh9w3k

Trezor shipping provider breach: https://tinyurl.com/39udu3nn

Ledger payment processor breach: https://tinyurl.com/27dntpu8

In this third Coldcard Q&A, I tackle entropy, device trust, DIY signers, and why I’m leaning harder than ever on multi-sig. I walk through why understanding encryption must become a mandatory survival skill, rather than a niche hobby, if we want to resist a dystopian future. I also share where I moved my personal stack, explain how multisig actually saved me, and explore the impossible ethical nightmare of white-hat hackers trying to rescue compromised wallets.

Chapters

(00:00:00) - Introduction

(00:00:22) - The future of Coinkite

(00:02:28) - Refunds or going dark?

(00:03:57) - DIY signing devices

(00:05:24) - The end of mass adoption?

(00:07:55) - Guy's personal setup

(00:11:18) - Trusted companies and multisig

(00:12:15) - RBF, Knots and slipstream

(00:14:54) - White-hats and ethics challenges

(00:18:07) - Closing thoughts

Affiliate Links

Become sovereign, hold your keys, be censorship resistant with the Bitbox hardware wallet. Get 5% off everything in the store with code GUY (Link: https://bitbox.swiss/guy/)

Get 10% off the best Bitcoin board game in the world, HODLUP! Or any of the other great games from The Free Market Kids! Use code GUY10 at checkout for 10% off your cart! (Link: https://www.freemarketkids.com/collections/games-1)

Host Links

⁠Guy on Nostr ⁠(Link: http://tinyurl.com/2xc96ney)

⁠Guy on X ⁠(Link: https://twitter.com/theguyswann)

Guy on Instagram (Link: https://www.instagram.com/theguyswann)

Guy on TikTok (Link: https://www.tiktok.com/@theguyswann)

Guy's Takes on YouTube (Link: https://www.youtube.com/@GuysTake)

Guy Swann on YouTube (Link: https://www.youtube.com/@theguyswann)

⁠Bitcoin Audible on X⁠ (Link: https://twitter.com/BitcoinAudible)

The Guy Swann Network Broadcast Room on Keet (Link: https://tinyurl.com/3na6v839)

The roundtable is back, but we're missing a familiar face. Mechanic has officially stepped down from Ocean, so it’s just Jeff, Steve and I digging into the aftermath of BIP110, from why the soft fork failed to what Luke and Mechanic’s departure means for Ocean and Bitcoin Core’s influence.

We debate whether the real existential risk is block-template centralization, how much BIP110 helped or hurt Knots and Ocean, and why some of us think the strategy overplayed its hand. We close with a wild proposal to pressure Coinbase into proving reserves using their wrapped BTC token, and what true Bitcoin “bank runs” might look like in the future.

Chapters

(00:00:00) - Introduction

(00:04:48) - The BIP-110 aftermath

(00:16:13) - Mining decentralization versus spam filtering

(00:22:56) - Tapscript, OP_IF, and breaking consensus rules

(00:30:31) - The importance of Stratum V2 and block templates

(00:53:09) - Mining economics on the BIP 110 fork chain

(01:11:29) - The Coldcard incident and state-sponsored attacks

(01:31:57) - Force proof of reserves on Coinbase

(01:44:32) - The Great Consensus Cleanup

(01:58:44) - Ron Paul, stepping stones, and sound money

Guest Links

Steve Simple Nostr (Link: https://tinyurl.com/3s6a8yn8)

Steve Simple on X (Link: https://x.com/stevesimple)

Jeff Swann Nostr (Link: https://tinyurl.com/3sjc3bcp)

Jeff Swann on X (Link: https://x.com/agoristview)

Affiliate Links

Become sovereign, hold your keys, be censorship resistant with the Bitbox hardware wallet. Get 5% off everything in the store with code GUY (Link: https://bitbox.swiss/)

Get 10% off the best Bitcoin board game in the world, HODLUP! Or any of the other great games from The Free Market Kids! Use code GUY10 at checkout for 10% off your cart! (Link: https://www.freemarketkids.com/collections/games-1)

Host Links

⁠⁠Guy on Nostr ⁠(Link: http://tinyurl.com/2xc96ney)

⁠Guy on X ⁠(Link: https://twitter.com/theguyswann)

Guy on Instagram (Link: https://www.instagram.com/theguyswann)

Guy on TikTok (Link: https://www.tiktok.com/@theguyswann)

Guy's Takes on YouTube (Link: https://www.youtube.com/@GuysTake)

Guy Swann on YouTube (Link: https://www.youtube.com/@theguyswann)

⁠Bitcoin Audible on X⁠ (Link: https://twitter.com/BitcoinAudible)

The Guy Swann Network Broadcast Room on Keet (Link: https://tinyurl.com/3na6v839)

In this episode I continue unpacking the Coldcard RNG disaster, wrestling with whether it was malicious or just shockingly incompetent design and attitude. I walk through how arrogance, licensing changes, and convoluted security theater may have let a fundamental failure sit unnoticed for years, possibly causing key collisions and bizarre “free Bitcoin” situations. I also warn about fake Sparrow and Wasabi mobile apps ruggedly stealing funds from people scrambling to move their funds, and set up a part three focused on lessons learned and best practices.

Chapters

(00:00:00) - Introduction

(00:00:51) - Malice vs incompetence

(00:02:10) - Security theater concerns

(00:03:35) - Tinfoil theory and NVK

(00:06:59) - Source-available code shift

(00:07:37) - RNG bug explained

(00:09:11) - Arrogance and oversight

(00:11:00) - Key collisions stories

(00:14:11) - Fake apps and closing thoughts

Affiliate Links

Become sovereign, hold your keys, be censorship resistant with the Bitbox hardware wallet. Get 5% off everything in the store with code GUY (Link: https://bitbox.swiss/guy/)

Get 10% off the best Bitcoin board game in the world, HODLUP! Or any of the other great games from The Free Market Kids! Use code GUY10 at checkout for 10% off your cart! (Link: https://www.freemarketkids.com/collections/games-1)

Host Links

⁠Guy on Nostr ⁠(Link: http://tinyurl.com/2xc96ney)

⁠Guy on X ⁠(Link: https://twitter.com/theguyswann)

Guy on Instagram (Link: https://www.instagram.com/theguyswann)

Guy on TikTok (Link: https://www.tiktok.com/@theguyswann)

Guy's Takes on YouTube (Link: https://www.youtube.com/@GuysTake)

Guy Swann on YouTube (Link: https://www.youtube.com/@theguyswann)

⁠Bitcoin Audible on X⁠ (Link: https://twitter.com/BitcoinAudible)

The Guy Swann Network Broadcast Room on Keet (Link: https://tinyurl.com/3na6v839)