126. Staying Humble & Stacking Sats w/ Matt Odell

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BTC veteran Matt Odell joins us to share his thoughts on the best ways to use bitcoin. We discuss different bitcoin custody options such as trusting third parties, hardware wallets, multisig, and paper wallets, and the advantages and trade-offs involved. What is the case for staying private on bitcoin, and what are the best tools available? What are the most common risks facing bitcoin holders? Will yield products on bitcoin go away or are they coming back? How do you plan for bitcoin inheritance? And much more!

0:00 Sponsors
02:00 Introducing Matt Odell
03:45 What’s the best way to get into bitcoin?
06:30 Taking Financial Responsibility
11:00 Increasing Your Self-Sovereignty Gradually
13:30 Inquiring about the risks and trade offs
16:45 Collaborative Custody and Multi-Sig
19:00 How to start holding your own keys
26:00 Bitcoin paper wallets
32:30 What are the threats you want to protect yourself against
39:55 Money itself can’t yield profits
43:00 Shitcoins future during the next cycle
52:12 There’s a cultural difference between Bitcoiners and Shitcoiners
01:01:00 Digital Privacy & Bitcoin Privacy
01:12:20 The implications of Chainanalysis & KYCed Coins
01:20:20 Is bitcoin privat enough?
01:23:07 Political Activists using bitcoin
01:27:00 We need censor ship resistant money
01:30:01 Governments might confiscate coins on exchanges
01:32:48 Possible Attack Factors
01:33:33 How the US taxes bitcoin in a Hyperinflationary Environment
01:38:00 The Ultimate win is to end Central Banking
01:43:30 Bitcoin Privacy Tools
01:52:00 Peer-to-Peer Exchanges
01:56:00 How to run a bitcoin node
01:58:00 How to pass on bitcoin to future generations

#Bitcoin #Saifedean #MattOdell

Matt Odell on Twitter:

Matt’s official website with links to his social media and resources:

Join Daily Airdrop

Matt discusses Lightning and bitcoin privacy on Episode #21 of Citadel Dispatch:

Samourai Wallet website:

Information about the Whirlpool here:

Wasabi Wallet website:

The Bitcoin Standard Podcast episode on bitcoin as “dark money” with Giacomo Zucco:

Saifedean and Tone Vays call out problems with Celsius’ business model in 2019:

Saifedean’s first book, The Bitcoin Standard:

Saifedean’s second book, The Fiat Standard:

Enjoyed this episode? You can take part in podcast seminars, access Saifedean’s courses and read chapters of his forthcoming books by becoming a member. Find out more here:


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  1. Odell educates plebs in the most important area: privacy, which = freedom. Stay humble, stack sats in a privacy focused manner. Thanks, Saifedean.

  2. Good episode. I would listen nearly all the videos you post Saif, if the sound quality of your mic or system is better/higher/clearer. Please consider that, ex: Lex's podcast audio system.

  3. Great podcast. Interesting discussion about wallets and notes that Ledger was not mentioned. I purchased a ledger Nano x due to its Mac connectivity and high recommendation. HOWEVER the unit was defective and wonder if this happens a lot.

  4. While I agree that most people shouldn't be "trading", just stay humble and stack sats… I'm starting to think that long-term hodlers can serve Bitcoin better by being willing to distribute a portion of their stack each cycle. Maybe sell up to 30% during a raging bull market, and buy back in after the next crash. It's a win-win if you can absorb some volatility and get paid for it. And move more coins into diamond hands.

  5. Trade offs are an imperative of physics. They exist in all facets of life.

    I think BIP 300 & 301 is a tradeoff that is a way for bitcoin to reach its potential.

  6. How can you keep your Bitcoin private and secure and at the same time prove you haven't stole it ? I guess states will soon require some kind of proof otherwise they would automatically consider such bitcoin illegal.

  7. The problem with privacy/anonymity of Bitcoin is that you won't be able to spend it without revealing your identity. Furthermoe, my friend scares me that no one will soon accept Bitcoin without a "story" i.e. without some KYC info attached to it. I am really worried the states will ensure that Bitcoin will be unusable without being held by the balls and heavily taxed :'-(

  8. Please don't make the mistake to sometimes compare bitcoin to money and sometimes to a risk taking equities portfolio with an expected return. Not making this distinction makes your podcast and other arguments less credible. Money is NOT the same as a diversified equity portfolio.  If in the future bitcoin will be the new money. companies still need money (ie bitcoin) to raise for investments and to make equity stakes tradable. And price for companies on stock markets may well be expressed in bitcoin. That doesn't make it the same. 58:22. 'To me bitcoin is essentially a replacement for that index fund on steroids…. single global ledger that records all of our wealth that is scarce, that is easy transferable…..' Then to my surprise Saifedean says :'Yeah absolutely'. But what Odell is saying is complete nonsense; he should compare bitcoin attributes to money, but not to a stock portfolio. Come one guys. Saife please be more critical to your guests to keep your own critical thinking and credibility. Not everybody who is wealthy now because they got into bitcoin early is very intelligent and worth to invite to your show.

  9. It's funny when he says ranchers get it. Of all of my friends that I've tried explaining bitcoin too over the years; accountants, biologists, teachers, etc., the only one of my friends who got it was my farmer buddy.

  10. Look I’m not denying that you have excellent points in this talk but please address the fact that people paid to borrow gold in Roman times and people will pay to borrow bitcoin now and in the future ……. Just because bitcoin is a brilliant asset doesn’t make it immune to being involved in debt based products

  11. Great episode Saif, I really enjoy Matt's POV and you did a good job of getting him to rant passionately about some important topics, like privacy, freedom and wealth.

  12. What about gemeni that uses only 2% interest paid on btc in its earn account and 7% on gemeni coin pegged to usd?

  13. Good stuff guys. Thanks for supplying the signal. I have learned a lot from both of you over the years. Much appreciated!

  14. Dollars will never be profits for your bitcoin, acquire as many satoshis as possible while uneducated people still accept dollars for them 😉

  15. Alles sehr schön. Aber zuerst zusammen die Nummern 10 und 1. Eine Brünette und eine andereo Blondine. Es wäre unfair, wenn ich 4 wählen würde

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