{"podcast":{"title":"Bitcoin Success School","slug":"bitcoin-success-school-7669520","podcast_index_feed_id":7669520,"rss_url":"https://api.riverside.fm/hosting/err1MCUq.rss","website_url":"https://bitcoinsuccessschool.com","image_url":"https://hosting-media.riverside.com/media/imports/podcasts/eb7f2575-6c9d-4de4-8317-6a6fbcc3ecea/45228710-1769049183920-60f1aa1e4b55d.jpg","author":"Fin Creighton","episode_count":41,"summary":"Bitcoin Success School explores what Bitcoin is, why it matters, and how you can stay secure.","last_synced_at":"2026-07-05T06:21:52.251735+00:00","page_url":"https://stenobird.com/podcast/bitcoin-success-school-7669520"},"episode":{"title":"Your Bitcoin Isn’t Safe on an Exchange | Mt. Gox Victim Explains Why","slug":"your-bitcoin-isn-t-safe-on-an-exchange-mt-gox-victim-explains-why","published_at":"2026-01-24T07:00:00+00:00","page_url":"https://stenobird.com/podcast/bitcoin-success-school-7669520/your-bitcoin-isn-t-safe-on-an-exchange-mt-gox-victim-explains-why","show_page_url":"https://stenobird.com/podcast/bitcoin-success-school-7669520","url":"https://api.riverside.com/hosting-analytics/media/c812865634624d1237ae2e63afbcd389c1e0770725adccc30394883bdbcd206d/eyJlcGlzb2RlSWQiOiIyMTU0ZTBhZC04OTQxLTQ1YTQtOTE2NS0yZjgzNTQxZTBkYzMiLCJwb2RjYXN0SWQiOiJlYjdmMjU3NS02YzlkLTRkZTQtODMxNy02YTZmYmNjM2VjZWEiLCJhY2NvdW50SWQiOiI2NzdmZjg0ZDI4MTNiN2JjNjE4ZTIyZTEiLCJwYXRoIjoibWVkaWEvY2xpcHMvNjk3MmVhZDlkYWY3MGQ4MmExMDg4YzFhL2Zpbi1jcmVpZ2h0b25zLXN0dWRpby1jb21wb3Nlci0yMDI2LTEtMjNfXzQtMjgtMjUubXAzIn0=.mp3","audio_url":"https://api.riverside.com/hosting-analytics/media/c812865634624d1237ae2e63afbcd389c1e0770725adccc30394883bdbcd206d/eyJlcGlzb2RlSWQiOiIyMTU0ZTBhZC04OTQxLTQ1YTQtOTE2NS0yZjgzNTQxZTBkYzMiLCJwb2RjYXN0SWQiOiJlYjdmMjU3NS02YzlkLTRkZTQtODMxNy02YTZmYmNjM2VjZWEiLCJhY2NvdW50SWQiOiI2NzdmZjg0ZDI4MTNiN2JjNjE4ZTIyZTEiLCJwYXRoIjoibWVkaWEvY2xpcHMvNjk3MmVhZDlkYWY3MGQ4MmExMDg4YzFhL2Zpbi1jcmVpZ2h0b25zLXN0dWRpby1jb21wb3Nlci0yMDI2LTEtMjNfXzQtMjgtMjUubXAzIn0=.mp3","summary":"A former Mt. Gox victim shares the hard lessons of losing funds to exchange hacks and the importance of self-custody. The discussion explores how non-custodial, multi-sig lending markets can provide liquidity without the counterparty risks of centralized platforms.","meta_description":"Learn why leaving Bitcoin on exchanges is a risk and how non-custodial, multi-sig lending platforms like Lendasat are changing Bitcoin-backed loans.","key_points":["Main idea: Self-custody acts as essential insurance against exchange insolvency and hacks","Failure mode: Relying on centralized lenders exposes users to re-hypothecation and bank run risks","Practical takeaway: Use a multi-sig approach (2-of-3) to ensure no single party can control your assets","Risk management: Maintain a conservative Loan-to-Value (LTV) ratio to survive extreme market volatility","Market insight: The entry of traditional banks into Bitcoin lending may lower rates but introduces fractional reserve risks"],"chapters":[{"start_ms":60000,"title":"Introduction to Lendasat","summary":"An overview of Lendasat's mission to provide non-custodial Bitcoin-backed loans."},{"start_ms":260000,"title":"The Mt. Gox Lesson","summary":"Philipp shares his personal experience with exchange hacks and the 'not your keys, not your coins' principle."},{"start_ms":670000,"title":"The Danger of Centralized Platforms","summary":"Comparing the risks of established platforms versus the volatility of newcomers like FTX."},{"start_ms":880000,"title":"The Gap in the Market","summary":"How the collapse of BlockFi and Celsius created a need for decentralized liquidity solutions."},{"start_ms":1300000,"title":"How Multi-Sig Lending Works","summary":"Explaining the 2-of-3 multi-sig architecture that connects borrowers and lenders directly."},{"start_ms":1910000,"title":"Managing Loan Risk","summary":"Strategies for setting LTV ratios to prevent liquidation during price crashes."},{"start_ms":2520000,"title":"The Future of Bitcoin Banking","summary":"Discussing the impact of traditional banks entering the Bitcoin lending space."}],"topics":["Bitcoin","Self-custody","Crypto Lending","Multi-sig Wallets","Mt. Gox","DeFi","Counterparty Risk","Bitcoin-backed Loans"],"duration_seconds":2733,"processing_state":"processed","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/bitcoin-success-school-7669520/episodes/your-bitcoin-isn-t-safe-on-an-exchange-mt-gox-victim-explains-why/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/bitcoin-success-school-7669520/your-bitcoin-isn-t-safe-on-an-exchange-mt-gox-victim-explains-why.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}