Seed phrases were a big UX improvement more than a decade ago. But today better solutions exist. In our last blog post we lay out why Bitkey is different:
Discussion
I don't understand bitkey. There's no screen on it to see what you're confirming. If your phone is compromised and showing you a different address than where you'll really be sending the btc, what protection does the bitkey give you?
#btc #bitcoin #bitkey #security
I don't understand this section of that webpage "Receiving Money: Screens Help, But Aren’t the Only Option"
That's not how Jade works. Your Green app (companion app) gives you an address and you can click a button on the app to "verify" that the address does belong to your Jade. You then click confirm on your Jade.
I don’t think the article claims every HWW with a screen behaves like that
> I don’t think the article claims every HWW with a screen behaves like that
They're explaining the problems with screens. In the case of Jade, what they're explaining doesn't apply, as far as I know.
The article is from two years ago and also talks about what they *might* do (like using the servers to do another verification). Do you know of a more recent article that talks about what they actually settled on and what they're doing now?
Fair point about Jade.
I do not have familiarity with a more recent article on this context. Their blog page is https://bitkey.build
Obviously their X account would include more recent things too
I'm not sure I would even be comfortable using an app and a signing device built by the same vendor (with or without a screen). If the vendor happened to be malicious then it would be trivial for the signing device to just show you the same wrong address as the app.
this kind of thinking is exactly what we need 🙏
I like seed phrases stamped in steel. EMP, fire, and flood. If you know where to find the plate you can recover your seed after the apocalypse even. A hundred years can pass and your offspring can still recover my keys.
Say they pull a scorched bitkey and phone from the ruined basement of my old house. Would it work? Probably not. SSDs degrade and corrupt over time just sitting in a drawer.
Bit Key is for helping boomers get off exchange. Protects people for losing their keys.
Help me understand why is it better to have to rely on a third party?
I understand it is a simple first step for improving custody over having the coins in an exchange.
But why is it better that safeguarding your keys?
Is the third party gonna be there without policy changes in two or three decades? how about in a couple of generations?
People need to be aware of the trade-offs when they trade personal responsibility for convenience. What made seed phrases such a great improvement was the added convenience without abdicating any personal responsibility.
should be able to eventually choose your own third party, don't need to trust us.
Thanks, makes sense and I see the value for those that still rely on Exchanges.
Easy implementation and payment integration. I have tested one and works great.
IMHO it is better not to have to trust anyone and self custody, but I see the value for a segment of the market
Trust but verify?
There's no 3P reliance on Bitkey. Customers can always unilaterally exit without Block Servers or the Bitkey App using the Emergency Exit Kit.
https://support.bitkey.world/hc/en-us/sections/37470033273236-Emergency-Exit-Kit
If your Bitkey gets lost or otherwise stops working AND the Bitkey servers go dark for whatever reason (bankruptcy, state infiltration, just don't want to provide this service anymore, etc); then you're screwed.
Granted, for BOTH of these to go wrong, it may seem highly unlikely; but ultimately, those are mostly out of your control; and, it's an unnecessary risk to take if you're just willing to take responsibility for your own keys.
I get your point and agree, but lots of folks might still have bitcoin if they could handle the responsibility, but for some reason they couldn't. So its always tradeoffs all around I think.
Absolutely: there are almost always trade-offs. The posted blog offers a very one-sided perspective of those trade-offs... so much so as to be misleading, IMO.
Just get a Coldcard
nostr:note1nfcrvzf5dmw2cnhkymdl6gc0hm4kmlklqdhkg3p2rjymxhdyrsks72pn3d
“rather than admit we as an industry have handed them the hardest part of the problem, we call it ‘personal responsibility’ - as if it were a moral virtue, not a design failure.”
nostr:nevent1qqs2xmflh4wgyzxm9hqevef7fa2n3r5nk4jjv3gzczkg6l7ztensjvq37f5gx
Wen coin control?
This is a dangerous premise, I hope Bitcoiners avoid this.
WILL THE FEDS HAVE ACCESS TO THIS LIKE THEY DID TWITTER? WHY TF WOULD ANYONE TRUST JACK AT THIS POINT, YOU PPL MIGHT HAVE SOME BTC BUT YOU STILL ACT LIKE LEMMINGS
What if a Fedimint server + Bitkey hardware had a baby ? 😀
Hardware device like BitKey is great UX for self custody
Federation guardians for Community/Social 🔑 recovery. Trust is ideally local and enforceable via proof of punch 👊
LN Mobile Clients + eCash for privacy & commerce
nostr:npub1kp7jzme0qs3wcqjjmkq6v5fm359sclhc22glhadgtmerlr0h37nsn8487l nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m @bitsacco nostr:npub1tand04svfdhrt7lhg6687fh0y2xvxfpr9nkkj27rqfrxfpeklldsp48sax
Top 😉🤝💜