Replying to Avatar nakad.ai🔱🦁🛡️🏯📿

🤣 sure
Avatar
dr.fred 2y ago

every opensource wallet can push a malicious code on your device with an update which steals your mnemonics and your funds.

how long does it take before anyone will notice? when the funds are gone.

you have to ask these questions:

how long are these manufacturers on the market?

where do they come from? in some countries you have impunity for fraud, in the usa it could come from a cia company

how many hacks did they have?

how can you verify the hardware components of your device?

i trust the french/singapore ledger. if they do anything illegal, they go to jail.

they never had a hack in 8 years, never had a backdoor in 8 years. the ledger nano s is even too small for the new service. you do not even have to update the device. i am not worried about anything other than the deteriorating purchasing power of btc.

Reply to this note

Please Login to reply.

Discussion

Avatar
TK SuitCoin.exe 80HpW 2y ago

Tell me you DONT understand open source signing devices without telling me you DONT understand open source signing devices

Avatar
nakad.ai🔱🦁🛡️🏯📿 2y ago

Ledger is problematic because its closed source so you can't verify and sign the code firmware updates. And a cold storage wallet should be airgapped, generated offline, and use partially signed transactions. Your seed can be generated with dice, so you don't have to trust that the device generates entropy.

If your wallet recieves firmware updates that can't be vetted and verified or it is connected to the internet, it should be considered a hot wallet.

If you use Ledger Live you have to rely on ledgers node and they have your xpub Unless you run your own node and a 3rd party wallet software. They have also leaked customer information that have put millions of people in the crosshairs of malicious attackers.

But sure continue use your statist ledger with good conscience.

Avatar
BitcoinSandy 2y ago

Deteriorating purchasing power ? You are very unaware. My purchase power is incredible saving with Bitcoin thanks and you sound like a fiat person mindset. Ledger can rugpull anytime a govt orders them. Learn a bit more about self sovereignty is my suggestion