Launch Oct 24 - Ledger wallet rolls out cloud-based private key recovery tool
125 sats \ 9 comments \ @Wumbo 25 Oct 2023 bitcoin
Looks like Ledger is launching their service on October 24 which is:
designed for users who “want to add an enhanced layer of resilience”
https://cointelegraph.com/news/ledger-cloud-private-key-recovery
According to social media posts, the Ledger Recovery service will be available at $9.99 per month, or about $120 per year. If a user fails to pay the subscription, the subscription will be suspended, allowing the user to reactivate the subscription in the next nine months.
I do like companies innovating but I am dubious this will be a good service.
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1 sat \ 0 replies \ @kepford 25 Oct 2023
I'm not surprised. Was a matter of time until they rolled this out again. IIRC the CEO or whatever said there is market demand for this feature. I believe that. The issue is that people don't understand what they need is not what they want. I wouldn't even own a ledger device let alone use this service. Gonna be a lot of touching the stove over the next 5-10 years.
A fool and his bitcoin will soon be parted.
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1 sat \ 1 reply \ @ryu 25 Oct 2023
Is this the same thing they got shit for months ago, and they're still going ahead with its launch?
Lmao.
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100 sats \ 0 replies \ @Wumbo OP 25 Oct 2023
Yes, I believe this is the same product they where proposing.
If you want to hear their response to criticism and some back and forth I suggest the WBD episode with Ledger CEO - #182285
I understand what Ledger is trying to accomplish but it has a number of ways it could fail in dramatic fashion.
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0 sats \ 0 replies \ @btcthinker 27 Oct 2023
A company whose emails can be leaked is launching a private key backup feature.
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0 sats \ 0 replies \ @lpop4254 25 Oct 2023
😆😆😆
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0 sats \ 0 replies \ @carlosfandango 25 Oct 2023
deleted by author
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0 sats \ 2 replies \ @siggy47 25 Oct 2023
Sounds like a terrible idea from what I see here. Maybe I should look into it further.
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44 sats \ 1 reply \ @Wumbo OP 25 Oct 2023
In my head the phrase "What could possibly go wrong" keeps popping up.
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0 sats \ 0 replies \ @siggy47 25 Oct 2023
Exactly. I can just picture the "ledger got hacked" headline.
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