/biz/ - Business & Finance

>>13013442
Awww baby got his first hardware wallet. Welcome to crypto newfag some of us have been here for many years. Please enjoy your stay.

>yes goyim, your funds are safe in your (((hardware wallet)))

>>13013442
yes, store in your brain the first 32 byte /dev/urandom spit out

Never cared to take my coin of Binance or coinbase seems like a pretty big point of failure

just be careful, these wallets are really only good for things like bitcoin and ethereum, and tokens on ethereum. coins in perpetual beta like monero constantly have issues, some even losing you money. you shouldn't be keeping that much outside of btc/eth/etc-20s though anyway if cold storage is useful to you.

>>13013568
yeah, whatever you do don't get tricked into buying link like the last wave of late adopters, op.

>>13013592
>holding your coins in your own wallet seems like a big point of failure
that's an interesting way of saying you're dumb, anon

>>13013600
Probably got more BTC than you too kek

>>13013608
>he thinks he has 'BTC'
kek, fucking textbook NPC cope

>>13013608
your sister and mother would get on their knees and start sucking my cock and balls at the same time if they saw my ledger balance. sorry kiddo

>>13013600
What happens if you lose your hardware ledger or it gets damaged. USB flash drives burn out all the time

>>13013608
>>13013700
both of you curry niggers won't show a transaction from your btc wallet anyway, so why bother?

>>13013711
The wallet is the seed phrase.

>>13013672
>Hur dur you don't own it if you don't have keys

Binance and coinbase is to big to fail and even then imagine how rich mtgox made people for essentially forcing them to hold

>ctrl f trezor
>0 results
the absolute state of biz

>>13013711
You clearly don’t understand what part the hardware wallet serves in accessing wallets

>>13013741
the problem with trezors are if you don't build your own, somebody can just ship you a backdoored one and you would have literally no way to find out. thats the advantage of ledger, you can open it to actually look at what's inside, and instead of having to trust every person that could have come into contact with your trezor on the way you to, you only have to trust ledger

imagine not having a Ledger Nano X already

>>13013729
>too big to fail
If only you ever worked doing vulnerability research you would realize how bad some security architectures are made. Data breaches in huge banks are still very common out there, if you think some very talented group well trained, well funded and with a lot of money and time to spend cannot do a massive breach in Coinbase which is a meme-exchange, you are really really wrong kiddo

>>13013568
Fpbp

/thread

>>13013906
not sure if it's worth the extra hunnid bucks just to store more shitcoins on it.

I will say the bluetooth feature is cool as fuck though

>>13013711

Go and learn about cryptography

>>13013729
https://www.wired.com/story/crypto-exchange-ceo-dies-holding-only-key/
sleep tight anon and hope that you're right! it helps to stick your head in the ground too.

>>13013729

>>13013729
He meant that having X btc worth of abject shitcoins (all of them) doesn't mean you actually own any BTC you tremendous retard

>>13014008
Hahahaah funny stuff upvoted

>>13013924
it has a better security architecture, with the screen and buttons connected directly to the secure chip instead of via the insecure one.

>>13013729
too big to fail meme

>>13013700
Shows us your ETH address

>>13013711
To give a non condescending answer, your hardware wallet is basically a UI to show your account on the blockchain and, more importantly, where you can make signed transactions to move stuff out of the account. Remember, the blockchain is a public ledger so everyone can see your transactions, like your ETH transactions on etherscan.io. They just need your public address. Your private address, what is generated from a software or hardware wallet, is what gives you control over your assets.

And to backtrack some more, your blockchain addresses and private keys are generated from the 12/18/24 word seed phrase. As long as you have that, you can use any hardware ledger or any software wallet that shares the same phrase generation algorithm to restore access to your funds. That's the beauty of crypto, you have full control over your funds, but at the same time, it's a bit scary (and major roadblock for Crypto) that if you're not diligent in securing your funds, you risk losing your stuff.

ledger purposely crippled the S and now are going to fix it after getting called out. Funny how it'll go back to storing 3 apps but boxmining ledger video he had 8-10 on it like a year ago

I hate how my Trezor doesn't show me all my change addresses. If I want to know where my bitcoin is I have to go search through the blockchain which gets really tough once it adds up. I wish they had a way to show all the addresses you currently have bitcoin stored

>>13014431
Thanks man

>>13013442

Haha. I remember my first Crypto wallet. Don't go overboard kid.

>>13013778
Don’t ledgers have the same problem? Trezors get shipped with a seal over the port for the connection.

>>13014518
>ledger purposely crippled the S
Please explain?

>>13014905
It can only have two apps on it after an update that came out after they released the X. They're fixing it but at one time you could have 8 or more apps installed at the same time

Would it not be safer to just store erc 20s in MEW directly? Doesn't the ledger just add another point of failure? For all we know the company could build them all with a backdoor and could exit scam at any time

>>13015022
Are my linkies safe on my S? If I buy an X do I have to send them to a new address or is everything still the same?

>>13015047
Do you have to set up a new Ledger if you upgrade to an X or just use the recovery phrase from your S?

>>13015042
there is a small chance, but personally there is no reason for them to do it since it is an already profitable business. Its like the guy who sells equipment during a gold rush.

>>13015047
>Are my linkies safe on my S?
None of your crypto assets are on the hardware wallet itself. Again, all a crypto wallet does is generate the public/private pair keys, provide a UI to your addresses and transaction history on the blockchain, and provides the environment for you to make signed transactions, i.e. send from your wallet. You can always go to etherscan.io or some other Ethereum blockchain tracking site to see how your account is doing. Seriously, go right now to

etherscan.io

And put in your ETH public address. It'll pull your account and you can look at the ERC-20 token transactions to see your [redacted].

seems to me like hardware wallets are simply a tool meant to flash the fact that you own crypto to (other) NPCs for attention. in other words: i will not have any advantage owning one if i don't have the character flaw of wanting the attention, and my funds would be way way safer if i just bought a 30$ raspberry pi, used it to create a coldwallet, never connected it to the internet, destroyed it after and sent all my funds to that adress and kept it untouched until i want to cash out.
true or false?
the only thing i see is disadvantages:
- possibility of hidden backdoors/
security flaws
- others know you possess crypto, because "look at what cool thing i have on my keychain, haha. aren't i hip and trendy"

nigger if you actually want a cool crypto thing on your keychain you shouldn't be in crypto in your first place

>>13015743
Alternatively
>I want to store my crypto off of an exchange but still send sometimes

>>13015743
Agreed. I store my wallet seeds in a password protected file on a password protected usb. My life partner has a duplicate usb. When it's time to sell I will create a hot wallet and recover from seed.

By doing this I can travel with my usb and if customs or a thief stop me, they have no idea it's crypto, just an everyday thumb drive.

>>13015965
>My life partner
sodomy makes baby jesus cry, anon

>>13014518
its because support for all the worthless bitcoin-clone shitcoins bloated the bitcoin app up so mucjh

>>13015965
Pretty much what I'm doing but I use encryption. Hardware wallets are just this for people who don't know how to use encryption.

>>13014521

You can just connect it to Electrum I'm pretty sure no?