S8 E3: Erik Voorhees on KeepKey, Open Source & Self Custody

In this episode, ShapeShift CEO Erik Voorhees talks about the KeepKey hardware wallet, the power of open source software, and the importance of self-custody. As a Bitcoin veteran, Voorhees also reminiscences about the most popular wallets from the 2010s. This episode is sponsored by Vaultoro and Wasabi Wallet. ––––––––––––––––––––––––––––––––––––– Time stamps: 00:00 – 03:05 – Introduction 03:06 – When did Erik Voorhees use the first hardware wallet? 06:49 – KeepKey’s design 07:38 – What were the most popular wallets that OGs were using in the early 2010s? 10:28 – Start9 Labs 13:53 – Mt. Gox, exchange hacks, and the importance of self-custody 17:05 – Do exchanges really insure your bitcoins? 23:18 – Michael Saylor, Elon Musk, Stock to Flow & Lending Services Like BlockFi & Celsius 28:07 – The financialization of Bitcoin (ETFs, derivatives, synthetic 32:29 – Why verification matters 35:20 – Mt. Gox YubiKeys influenced the creation of hardware wallets? 36:07 – Using your hardware wallet for U2F/2FA 36:30 – Resetting a KeepKey 37:30 – Dealing with fake KeepKey apps 41:55 – Why Shapeshift acquired the KeepKey 43:07 – What does Erik Voorhees think about the Trezor One and the Trezor Model T? 45:06 – What hardware wallets should do 46:20 – Ledger and why open source matters 47:20 – Is open source socialist? 49:12 – Did Erik Voorhees try the Coldcard, BitBox02 or Jade? 49:30 – Ballet Real vs Pro 50:40 – Mike Caldwell’s extra security steps with the Casascius coins 52:38 – Multisig setups 54:30 – Shamir Secret Sharing 56:40 – Why open source helps software outlive the company that created it 57:30 – What kind of Bitcoin custody advice would Erik Voorhees give his younger self? 1:00:25 – Why should anyone buy a KeepKey hardware wallet instead of something else? 1:01:30 – Does KeepKey work with Electrum and Wasabi?