What podcasts say about Clay Garrett
Every statement, with the speaker, the exact quote and the moment it was said.
What Clay Garrett has said on podcasts
28 statements · 19 positive · 4 negative · 5 neutral
The Coldcard hack did not affect BitKey.
“there was nothing that affected BitKey, you know, completely isolated to cold cards”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 1:48
Coldcard’s misconfiguration routed entropy through a deterministic software generator.
“it actually routed it through the software one. And it was even a deterministic one”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 2:50
Knowing the flawed seed allowed prediction of Coldcard’s generated random numbers.
“if you knew the seed, you could basically predict every random number that it would spit out”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 2:55
The attacker used a fee rate of approximately 30 satoshis per virtual byte.
“it was, I think, exactly 30 sats per vbyte”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 4:29
BitKey’s three keys were generated with 256 bits of entropy each.
“all three keys that are part of BitKey were generated with the desired amount of entropy. They were all 256 bits of entropy.”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 9:48
BitKey’s multisig requires a second key if one key is compromised.
“if one key is compromised, you still have to get a second key to actually move funds”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 10:24
Security-sensitive companies should run continuous code scans where possible.
“you need to be running, you know, 24-7 scans against your code where possible”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 11:43
Clay declines to judge frontier-model access policies given limited data.
“I also am not going to, you know, sort of sit here and pass judgment with a limited data set right now”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 13:13
BitKey customers own two keys while BitKey owns the third.
“The customer owns two of the keys. BitKey owns the third.”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 15:00
BitKey requires two of three keys to spend, and cannot spend without the customer.
“need two out of three to spend. You can spend without BitKey. BitKey cannot spend without you.”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 15:17
An encrypted BitKey app key is useless without the user’s unlocked hardware.
“If someone gets access to that for any reason, it's useless to them unless they have your unlocked hardware”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 16:14
BitKey generates its three keys in separate environments.
“all three keys are created in three different environments”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 18:01
Many people find seed-phrase management difficult.
“people do find seed phrase management difficult”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 19:30
BitKey’s system is designed as a replacement for seed phrases.
“we developed a system that uh basically is as a replacement for that”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 21:17
BitKey requires at least two people to approve code merges.
“our code review process is it requires at least two people to get any code merged at all”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 24:28
Three separate groups can sign BitKey production code.
“We have three different groups that can sign production code”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 25:37
SPAKE2 prevents Block from man-in-the-middle interception during recovery-contact exchange.
“Block is not able to sort of man in the middle”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 30:16
Recovering through a lost phone initiates a seven-day waiting period.
“what that will do is start a seven-day waiting period”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 31:57
BitKey inheritance claims have a six-month waiting period.
“it's a six-month waiting period”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 33:35
BitKey’s screen provides additional protection against address-replacement attacks.
“The screen does give you an extra level of protection.”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 34:45
Clipboard replacement attacks may still occur on Android under some configurations.
“Probably could still happen on Android in the right configurations.”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 35:50
People should continue using Bitcoin self-custody after recent hacks.
“I hope people stick with self-custody”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 40:32
Clay is more optimistic about Bitcoin self-custody after recent events.
“I've never been actually more bullish on Bitcoin self-custody because of it.”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 40:43
BitKey recently launched an Auto DCA feature.
“we just recently launched Auto DCA”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 41:04
Cash App Auto DCA automatically transfers excess Bitcoin to self-custody.
“when I exceed that, here's how much I want to sort of like automatically move over to self custody”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 41:14
Cash App integration enables discounted fees for Auto DCA.
“they're able to discount the fees as well”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 41:43
Block aims to make Bitcoin everyday money.
“we want to make bitcoin everyday money”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 44:30
Block will transparently share its ongoing product development.
“We are relentless in our roadmap. We are transparent. We're going to share what we're building.”
Open the episode · Clay Garrett: Why Bitkey Has No Seed Phrase & How It Keeps Your Bitcoin SafeListen at 45:03
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.