491 sats \ 4 replies \ @Scoresby 27 Sep \ on: Are Hardware Wallets a Shitcoin? bitcoin
The biggest threat I see when purchasing a bitcoin specific device is (1) that it marks you as a bitcoiner and (2) that it marks you as a bitcoiner who has enough bitcoin that you are worried about secure storage.
Sure, companies can try to prevent data leaks, but it seems like you are massively expanding your attack surface just by purchasing such a device.
This is not to say anything about your own ability to evaluate the device and company that makes it.
Then you have things like the recent Israeli operation using pagers and radios that clearly demonstrate how motivated attackers can put a man in the middle and you might not know--even if death could be a consequence.
It seems very unlikely that you could purchase a hardware wallet and feel comfortable that you are minimizing your trust in third parties.
Thanks for the great write up and going through your thought process!
well said
reply
reply
Did you not read the article?
It describes how you can create your own cold storage.
HWs create dependency upon a third party gadget- that is not self sovereignty!
It is very simple to create your own secure cold storage as described in the article.
For more detail see this link-
https://electrum.readthedocs.io/en/latest/coldstorage.html
HWs obfuscate the real core to long term hodling security- the essential importance of storing your seed phrase - HWs do not store your seed phrase.
reply