Episode notes
Old self-custody approaches collapse once Bitcoin reaches six figures, physical threats rise, and AI tools proliferate. Single hardware wallets and mattress myths no longer match the scale or risks that large holders now face.
Michael Tanguma, CEO and co-founder of Onramp, returns to examine how custody must adapt to family obligations, mortality, and market structure that turns concentrated holdings into targets.
The discussion covers why repeated exchange failures keep Bitcoin looking speculative to outsiders, how multi-institution setups reduce scam ROI, and the limits of adding more dice or vendors in an AI era. It also addresses custody pricing models and the practical question of whether any current setup survives a tenfold price increase.
Game theory now requires diversified institutional layers rather than pure self-reliance for serious stacks.
Timestamp:
03:43 — Bitcoin Custody Won't Work Like 2012
05:49 — Self-Custody Rules Changed With Your Life
07:19 — Why Bitcoiners Must Stop the Mattress Myth
09:01 — Bitcoin's Asset Layer Makes It Unstoppable
11:22 — Private Keys Are Like Firearms
15:40 — Custody Losses Keep Bitcoin Speculative
18:56 — AI Just Changed Self-Custody Forever
21:41 — Why Bitcoin Robberies Are Skyrocketing
25:41 — Multi-Institution Custody Kills Pig Butchering
27:57 — Bitcoin at $650K: Security Nightmare?
29:30 — Game Theory Demands Multi-Custody Bitcoin
32:03 — Centralized Custody: The Honeypot Risk
37:56 — Why Custody Fees Should Be Zero
39:51 — Full Bitcoin Custody for $100/Month
42:51 — Would Your Setup Survive 10x Bitcoin?
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