That means that if I have a ledger, I don’t have to use the ledger live and can choose whichever software I want. The difference is that ledger is close and cold is open source?
How does that affect a simple user that has little to do with coding or the ability to examine or verify the code?
What happens if ledger goes bankrupt and closes all its services, would I still be able to access my funds? And what about Cold?
Thank you, much appreciated
You could still access all your funds.
It doesn’t really impact you, unless there is bad or malicious code in the device which gets exploited. The difference is that with open source code, smart people can look at it and verify that it doesn’t, but with closed source code, you just have to trust the company.
I’m not sure how much software supports ledger devices, but they are pretty common so I would assume most does. Ledger also supports shitcoins, which opens up a wider attack surface and is another thing to consider. I personally would never recommend a ledger product to anyone, but if you already have one and really don’t want to switch it, at least get ride of the dogshit ledger live software.
Gotcha!
Much appreciated man! 🫡⚡️
A bip 39 seed will work anywhere.
Coldcard is "source viewable" NOT open source.
Both are subject to supply chain attacks and potential rug pulls from the company itself.
However, Coinkite (maker of coldcard) has demonstrated FAR MORE trustworthiness than Ledger over the last few years.
Interesting 🧐
Can you describe trustworthiness? What did they demonstrate to make you and others trust them more? Why Ledger is least so?
A genuine question, I am really trying to figure this out
