BITCOIN SEASON 2: Bitcoin Needs Self Custody To Survive
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 30 July 2025
⏱️ 36 minutes
🧾️ Download transcript
Summary
Casa CEO Nick Neuman argues Bitcoin needs self-custody adoption to survive long-term. Without transaction fees from edge users, mining could become unprofitable, risking network security and potentially forcing protocol changes.
Nick Neuman, CEO & co-founder of Casa joins us to talk about why Bitcoin's future depends on self-custody adoption. Neuman argues that without users holding Bitcoin "at the edges" and generating transaction fees, mining incentives could collapse, potentially forcing changes to Bitcoin's 21 million supply cap or pushing institutions toward proof-of-stake alternatives.
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NOTES:
• Casa founded in 2018 to enable self-custody
• Coinbase holds 2.8 million Bitcoin today
• Transaction activity lower than 2018 levels
• Bitcoin block reward halves repeatedly over time
• Mining unprofitable without transaction fees
• 2140 deadline for block reward depletion
Timestamps:
00:00 Start
02:38 Self custody & Bitcoin survival
07:25 Held at the edges
11:26 Fees a& codes changes
17:55 Memetic death spiral
21:00 layer 2
26:12 Self custody adoption
30:48 Changes to improve self custody
33:35 Education
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Transcript
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| 0:00.0 | Hey everyone, Charlie here. |
| 0:02.6 | We're running a quick survey. |
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| 0:10.0 | It takes under a minute and the link is in the show description. |
| 0:13.3 | This helps us make better content for you. |
| 0:15.4 | Thanks a ton for listening. |
| 0:17.0 | Link in the show notes. |
| 0:18.0 | I think that we as an industry have to figure out how to move past creating new casino games, |
| 0:25.4 | basically, and into economic value, because that is what will drive the most activity |
| 0:31.5 | and demand for blocks based on Bitcoin. |
| 0:34.0 | If we want to ensure that Bitcoin is valuable, isn't the path to ensuring success 100%, |
| 0:40.9 | doesn't that lie through increasing the number of transactions on the network? It feels like the |
| 0:45.8 | self-custody narrative in general is just getting pushed into the background. |
| 0:57.0 | Welcome back to Bitcoin Season 2. |
| 0:58.8 | I have CEO and co-founder of Kasa here on the show, Nick Newman. |
| 1:05.0 | Welcome to Bitcoin Season 2. |
| 1:06.5 | Hey, hey, thanks for having me. |
| 1:08.2 | So Kasa is a bit of, I would say, like a household name for the joke. |
| 1:16.6 | How long have you been... |
| 1:17.5 | Nice. Love it. |
| 1:18.1 | Yeah, you've been doing that. |
... |
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