Question:
If I don’t update my ledger and I throw them away and buy a Blockstream Jade. Can I use my seed phrase or is it better to go for an entirely new one.
I rather keep my existing because of my memory, metal plates,…
Discussion
Yes, you can import your mnemonic seed phrase to your new device.
I know but is it safe to do
Would you forgive yourself if your corn suddenly disappeared?
In general I would say yes. I think no damage was actually done, what people complain about is the direction they are going. You would need to kyc in order to upload your seed phrase shards etc anyways.
But to be on the very safe side, always better to make a new one.
Your funds are safu. It never leaves the device. Except with a simple update they can now extract your whole seed.
sEcUrE ElEMenT
🥲🥲
I'm not defending ledger and their policy. I'm just saying as he didn't update I have no reason to assume seed phrases are compromised at this point. I highly recommend not using ledger live software anyways tho.
Definitely not doing any updates anymore
Create a new one. There is a breach of trust in the most fundamental security aspect of the ledger hardware. Consider your ledger a hot wallet.
You can absolutely import (restore from seed). But i would at least consider generating a new one as the jades software is open source and the generating process is more trustworthy than ledgers closed source process. I also found in my research that jade has better entropy by also using entropy generated by the camera during boot.
Thanks bro
I am also tossing my ledger now for good 💪
Btw, already ordered your jade? There is a discount code you can use, on case you didn’t know ☺️
No haven’t yet! Do you know the code?
Yes! It is:
TATUMTURNUP
Thank you 🧡🧡🧡
🫂💜
Or flip a coin / roll a dice to generate your 256 bits of entropy.
I know.. it just sucks as I have 2 engraved metal plates, memorized it, …
Lot of money to buy the plates again
Border wallet better. No need to hide it anywhere since only you can decipher it, safe to email to yourself or print loads of copies to squirrel away, so no danger of loss in fire etc. Makes metal plates obsolete.
Will look into it! Thanks
See it as „apprenticeship“
I disagree with these opinions.
If there's a hint of compromise, create a new key.
Two things come of this:
1. Peace of mind
2. More practice in recovery, memory, backups etc.
Fair point
IMHO, to sleep well, it's better to have an air-gapped signing device which has never been connected to internet and seeds was generated offline.
To transact, you use PSBT.
What's PSBT? I have a seedsigner and I figure the way to store keys is on paper or in the head. For those who want the dependability of paper and the secrecy of head, a border wallet seems like a brilliant solution. I think I'll be ditching my ledger as soon as I've got all the loose ends worked out.
partially signed Bitcoin transactions
I created a new seed, not worth the additional risk right?
But if you have a seed with a self generated pass phrase? + my ledgers aren’t updated
A simple metaphor:
Could you enjoy eating a cake if you knew that there was a tiny piece of poop baked in? Even if it was very tiny, it ruins the whole cake.
Same with your seeds. Even if there is a very tiny chance that ledger could have had access to yor seed, it would always be in the back of your mind …
exactly
sorry bro
you need a new seed and everything, just start all over from scratch, give those old metal plates away as a decoy
🫡
I’m doing the same thing. I’ve bought a Coldcard, and Bitcoin only Bitbox. Considering getting the Jade also and just researching the hell out of it until they get delivered.
In any case, I’ll definitely created a new seed phrase and spend the £100 in transfer fees - definitely not worth taking any risks