pull down to refresh

753 sats \ 2 replies \ @justin_shocknet 9 Sep -2100 sats \ parent \ on: Is L-BTC a shitcoin? bitcoin

I don't follow him or know what he's on about these days, but I lean anti-HWW myself.

I don't think they're all criminals, but HWW's inherently present new surface risk.

  • No software is better reviewed than Core
  • Any software you add beyond core to make a HWW work is more surface risk that's less reviewed than Core alone
  • When you buy a HWW there's usually a paper trail
  • HWW's are a painted target and the supply chain also has less eyes on than for example a Dell laptop. Dell/HP etc has to take supply chain seriously since so much of their business is government procurement.
  • The #1 cause of lost coin is lost/stolen/phish'd seed phrases, and afaik every HWW relies on seed phrases
  • If you're buying a HWW, you're either someone looking for a shortcut and/or don't have the knowledge to construct a system of your own. I'd guess 90% of HWW sales are to people that would honestly be better served by an ETF, very few people use them in a multi-vendor setup and have the know how to manage with that complexity.

That last point is to say they do have their uses so I'm not fully against them, but I don't think I've ever recommended one to anybody and can't imagine a scenario in which I would. Someone even asking for a recommendation precludes being able to recommend one to them specifically.

I've had large firms approach me for consulting on their custody infrastructure that would make Liquid look like peanuts, and when you map that out end-to-end you realize HWW's introduce more problems than they solve.

write
compose
1 sat \ 1 reply \ @Bell_curve 16h

Is it just me or the hysteria about 'hot' wallets are overblown? technically your node is a hot wallet

reply
12 sats \ 0 replies \ @justin_shocknet 7h

It's simultaneously overblown and under blown

People are paranoid about hot wallets because they have too much hot, which is under paranoid because there's too much there in the first place.

A lightning node is inherently hot. A cold storage node not necessarily, you can do the node functions like mempool etc without a wallet ... Then attach a cold wallet to it like it's a database on a private network.

Having a key accessible to the iternet is what makes it hot, you might have Core behind a double firewall or proxy node such that it's wallet is not hot.

reply