Thoughts on these bad boys? Safer than just keeping my ETH on Coinbase? What...

BlogWobbles
BlogWobbles

Thoughts on these bad boys? Safer than just keeping my ETH on Coinbase? What would happen if I lost it or it stopped working somehow?

All urls found in this thread:

support.ledgerwallet.com/knowledge_base/categories/ledger-nano-s
twitter.com/adachis?lang=en
youtube.com/watch?v=jZYDTZYK6UM
iancoleman.github.io/bip39/

FastChef
FastChef

Don't keep your coins on an exchange unless you plan on selling them soon.

And you have a backup phrase to recover your info should you lose it.

CodeBuns
CodeBuns

And you have a backup phrase to recover your info should you lose it.

Would I have to buy another ledger nano then to recover it?

Lunatick
Lunatick

People love introducing single points of failure it seems.

You could use a paper wallet but nope, you chose to put your money into a cheap made in china usb stick with parts that only have to pass consumer electronics QA.

It's like those morons holding their decentralized crypto currency on an exchange...

Evil_kitten
Evil_kitten

Oh, also:

inb4 "but paper wallet can get stolen". so can these. there's virtually no difference to you if your paper wallet gets stolen or one of those: in both cases you don't have access to your money anymore.

farquit
farquit

So you wouldn't recommend this device?

takes2long
takes2long

You people are mentally retarded.

iluvmen
iluvmen

Yeah, paper wallet is the safest long-term option by far. Simply store in on a paper in a safe place.

Technically, you can even memorize your private key - you just have to recall it every week to keep in memory.

idontknow
idontknow

If you invested in a lot of DGB I would definitely recommend getting this and putting it in the freezer for cold storage.

hairygrape
hairygrape

Fucking kek. Fucking normies want everything spoonfed to them. Its not looking good for crypto

Playboyize
Playboyize

How is it not safe? If anything ever happened to your device as long as you have the recovery phrase you are golden.

Gigastrength
Gigastrength

10 poos have been deposited on your street

TreeEater
TreeEater

You shouldn't try to comment on something that you don't understand.

PackManBrainlure
PackManBrainlure

"Why r u puttin ur bitcoins inside a usb stick u might lose it wiv all ur bitcoins inside it."

You realize the bitcoins aren't actually stored on the device, they're stored on the blockchain.

All the device does is creates a wallet, without the risk of doing so on a possibly infected computer.

If you have the seed phrase it doesn't matter what happens to the device.

Emberburn
Emberburn

I'm convinced, gonna order one right away.

I don't feel safe with 300 ETH on an exchange after seeing what happened to this poor guy.

Evilember
Evilember

Sorry but this is not true. If a paper wallet is stolen then you're fucked but if your Ledger/Trezor get stolen you can use the backup phrase to restore your balance on any BIP39 compatible software wallet.

WebTool
WebTool

privkey -> AES -> hex 4 char space delimited -> PDF -> print
do the same thing with a keyfile the same length as your privkey.
restore privkey using xxd.

LuckyDusty
LuckyDusty

can you explain the recovery process in detail on using said wallet? Does that include an Electrum wallet on desktop?

Could you also just restore it on another device assuming I have 2?

StonedTime
StonedTime

If you have 300 eth you should absolutely get this.

VisualMaster
VisualMaster

can't make a backup of your paper wallet

FastChef
FastChef

- I can but I won't. It took me literally 2 seconds to find it on google. support.ledgerwallet.com/knowledge_base/categories/ledger-nano-s

- Yes.

Sir_Gallonhead
Sir_Gallonhead

Papyrus is good enough

Soft_member
Soft_member

just print 2 fucking pieces of paper. I have 2 usbs and 1 printout. If I lose all 3 i dont deserve to live.

Bidwell
Bidwell

If someone steals your paper wallet, your coins are gone.

If someone steals your Ledger they can't do shit without PIN and if they enter the wrong one 3 times it gets wiped.

Trezor even has an additional password.

Fried_Sushi
Fried_Sushi

so if I store a bunch of bitcoin on this thing and it gets stolen or breaks, as long as I have the pin code and the 24 words It's still safe as ever? That's pretty neat, I may buy one.

Gigastrength
Gigastrength

Having the recovery seed on a piece of paper is equally secure/insecure as holding a paper wallet isn't it? What happens when your recovery seed gets stolen?

Methshot
Methshot

Why don't you keep a paper wallet written in a physical Japanese doujinshi?

tfw $10k worth of ETH stored in a Byakuren inverted nipple paizuri doujinshi

StrangeWizard
StrangeWizard

Can anyone please explain why people are interested in this fucking bullshit as opposed to a few secure systems with rotating flash drives? I mean seriously what the fuck with this gimmick shit?

Legitimately looking for some input here. Is there some deeper reason people want to buy what looks like pure trash to me? Just buy a fucking $15 flash drive

Soft_member
Soft_member

Hello /pol/.

cum2soon
cum2soon

Kys for being so ignorant. This puts your crypto on a blockchain, not the device itself.

iluvmen
iluvmen

Ok since all the retarded shit is out of the way lets get to the true weakness of paper wallets and that is moving your fucking money. With the ledger the process is fucking painless.

Flameblow
Flameblow

Educate yourself nigger. The device is more than storage.

New_Cliche
New_Cliche

you are an idiot and if this isn't your product i'd be shocked

Techpill
Techpill

Seems solid. I tend to be paranoid with the safety of my wallets due to malware, so I want extra layers of security. Paper wallets are no use since I'm trading with them.

I will be buying one.

Flameblow
Flameblow

put wallet on multiple cold devices with a proper 15+ letter password.

you don't need this shit.

Illusionz
Illusionz

that dude's tears are delicious. get a job, faggot.

kizzmybutt
kizzmybutt

inb4

Chinese coder already Stuxnet'd these bad boys from the get go.

GOOD luck in 3 months.

TreeEater
TreeEater

just encrypt your wallet properly and upload it somewhere using TAHOE-LAFS. it's a redundant backup that way in dozens of places

JunkTop
JunkTop

Just get your phrase tattooed on you in prison break style code if you're worth that much

Deadlyinx
Deadlyinx

Who is that guy?

takes2long
takes2long

twitter.com/adachis?lang=en

some faggot that let his Coinbase account get hacked and got thousands of dollars stolen from him. I'm guessing Coinbase told him that he should have taken better care of his shit and that there's nothing they can do about his missing coin, now he's made it his life's mission to spend literally all day, every day posting pictures of asses on twitter and tagging Coinbase.

he released a youtube video where he's trying to look like he's turning his loss into a message of helping others, when really it's just a ploy to get people to feel sorry for him and give him free money to cope with his retarded loss.

youtube.com/watch?v=jZYDTZYK6UM

Poker_Star
Poker_Star

it's shit but hey it's your responsebility to keep your account and money safe

what a fag

SniperWish
SniperWish

"i want to have a presense on social media, online"
what he ment to say was "i want create sociel preassure on Coinbase so they compensate me for my carelesness"

Firespawn
Firespawn

yeah. I'd be more willing to feel sorry for the guy if he didn't go the route of acting like an angry 14 year old girl that just got dumped by Chad.

I guarantee you that he had zero interest in "helping others" before his situation. From the looks of it he probably has enjoyed a nice middle class life and then decided to sink all his money in crypto like a complete idiot.

This is why I 2-factor everything through my phone and change my passwords once a month from a clean imaged r.pi

New_Cliche
New_Cliche

Did he even have authenticator turned on or 2 step? If he did there's no possible way he could've been hacked. What a dummy.

Evilember
Evilember

mommy comes to clean your bedroom/her basement and throws out your pedo fantasy porn drawings
lose $10k and 10 years of fap material

Stay classy Veeky Forums

BunnyJinx
BunnyJinx

who fuckin knows. the faggot probably dowloaded "l33t coin miner - fast guaranteed returns edition!" from a chinese website and got himself keylogged. you never know the full story with these idiots.

BunnyJinx
BunnyJinx

I just bought a Trezor off Amazon and I'm super fucking excited to have a hardware wallet. I've been keeping my money on exchanges like a dumb fuck. I'm excited to have something I can just throw my money on and forget about it. Also I'll probably save a lot of money since I won't make dumb fucking decisions on exchanges anymore.

hairygrape
hairygrape

Question: I tried the Mist wallet on my desktop for storing ETH before and it literally took days to download the blockchain and showing my sum of coins even when running --fast.

Probably because I don't have an SSD but is the nano ledger wallet the same way?

BinaryMan
BinaryMan

Ummm, Can you give me the safest method to make a paper wallet ?

GoogleCat
GoogleCat

JUST GOOGLE IT U LAZY FUCKING NIGGER

massdebater
massdebater

been using my ledger for two days
already lost it
Where the fuck did it go? I could have sworn it was plugged into the computer and now its not. I live alone, what the fuck did I do, sleepwalk and remove it?

Techpill
Techpill

download an offline paper wallet generator

Dreamworx
Dreamworx

Hope you didn't lose your pass phrases at least.

Harmless_Venom
Harmless_Venom

I have the pass phrases and there's actually no crypto on it at the moment, still frustrating though.

5mileys
5mileys

Clean your room

Bidwell
Bidwell

even if you had a ton of crypto on it you'd be fine. You would either need to buy another one or any BIP39 software wallet.

Burnblaze
Burnblaze

still living with your parents

maximum profit

GoogleCat
GoogleCat

its gonna be hilarious watching these normie fags lose their money. BUY HIGH SELL LOW!!!

Boy_vs_Girl
Boy_vs_Girl

yeah that's my fear of these as well desu

VisualMaster
VisualMaster

muh magic flash drive that still needs a paper wallet to function

Well whatever, $100 bucks to me right now is chump change anyway.

To all ya'll with the sensibility to actually protect your shit though: use desktop wallets, encrypt your passwords, get a safe for your passwords (preferably bolted down) AND a safety deposit as a backup, buy guns and learn how to use them, and get a dog.

There, just taught you losers how to protect more than your crypto.

Boy_vs_Girl
Boy_vs_Girl

To all ya'll with the sensibility to actually protect your shit though: use desktop wallets, encrypt your passwords, get a safe for your passwords (preferably bolted down) AND a safety deposit as a backup, buy guns and learn how to use them, and get a dog.

This works until someone has a keylogger on their system. Which is exactly what the hardware wallets are for.

Flameblow
Flameblow

You know nothing about hardware wallets. Even if they get stolen they can't spend from it with the PIN code. Also with a paper wallet the single point of failure is the fact that you have to sweep the funds into a potentially vulnerable online / computer / smartphone wallet. With a hardware wallet, the private keys NEVER touch the internet because the transactions are signed internally in the device in a 2-FA manner.

AwesomeTucker
AwesomeTucker

still can't find it
guess I pissed $80 down the drain

Lunatick
Lunatick

paper wallet stolen: you're fucked.

this gets stolen: you have a 16 word phrase backup to get the info back. they cant access the coin info on it because they dont have the pin.

but please, use your paperwallet you dumb piece of fucking stupid cunt shit.

........a bit much maybe.

Methshot
Methshot

still living with your parents but you own the house and they pay the rent

Evilember
Evilember

you have a 16 word phrase backup to get the info back
But it can also be stolen unless you memorize it. And technically, you can memorize your paper wallet too. It's just a small sequence of characters.

In practice, it's very hard for a paper wallet to get stolen. Someone must know that you keep a paper wallet and deliberately steal it from your safe place. By merely using a primitive cypher (i.e. writing down your private key using some fancy characters) already makes sure that even if one copy of it is lost, it's unlikely that someone will figure out that it's your $$$ encoded there.

Snarelure
Snarelure

Doesn't realize how he's using his own logic against himself.

BlogWobbles
BlogWobbles

You have to sweep the funds into a computer / smartphone / online wallet in order to spend it. That's the weak link in the chain that makes it just as vulnerable as any other kind of wallet. With a hardware wallet when you spend from it the computer never sees your private keys, only the signed transaction. There's no way for a virus to steal from it because it has no operating system, it has only 1 function and is programmed in a "bare-metal" environment. Your logic about how "in practice it's very hard for a paper wallet to get stolen" applies just as much to the hardware wallet and it's backup phrase.

Playboyize
Playboyize

are you referring to wallets created at places like myetherwallet.com? aren't they stored online somehow? what happens if myetherwallet gets compromised?

TreeEater
TreeEater

Gonna need a source on this one, mate.

Ignoramus
Ignoramus

The main vulnerability of hardware wallets is that the whole recovery procedure is dependent on the manufacturer and its servers. If something happens to the manufacturer, you're SOL. Even though I acknowledge that hardware wallets are very useful, that very fact is a major turnoff for me. With the right precautions, the paper wallet is literally the safest thing ever in the long term.

Paper wallets are only stored in the blockchain and not on any website, that's the whole point of them

Sir_Gallonhead
Sir_Gallonhead

This is what happens when normies get into crypto. Must be tough living life with a 2 digit iq.

cum2soon
cum2soon

Thank you. This right here are the advantages of a hardware wallet. I also like that it shows the receiving address when you send coins eliminating the possibility of a copy paste hack.

I swear this place is filled with 2 digit iq mutts with all the stupid shite being said in this thread.

Harmless_Venom
Harmless_Venom

my dad lives on my boat in exchange he gets to man the vessel while i fucc with bitcoin babies

Sharpcharm
Sharpcharm

This.

Realistically speaking, if you store your JSON on a flash drive (encrypt it if you want), and all your wallets have secure passwords/passphrases, the 2FA of a ledger wallet is likely overkill. Just have multiple copies of your JSONs and you're reasonably secure from theft, etc., unless you are computer illiterate and decide to access your wallet while you're being actively monitored by someone who has the requisite technical skill to infect your computer with malware/keyloggers, and also knows that you use your computer to manage a significant amount of cryptocurrency.

Besides, with a 2FA wallet like these, in order to recover you have to have some ridiculous recovery phrase you're unlikely to remember any more than you would a standard passphrase on a JSON, so you're going to be, what, writing it down and putting it in a safe deposit box? Because if you're writing it down & keeping it in your house you're no better off in case of a disaster than if you have multiple USB sticks. If your house catches fire, poof, it's all gone anyway.

Fried_Sushi
Fried_Sushi

...why wouldn't you have used a regular encrypted USB stick in the meantime?

I mean, that's still safer than leaving it to Bitfinex or Polo to do what they please with...

Lunatick
Lunatick

Source dammit.

Skullbone
Skullbone

The main vulnerability of hardware wallets is that the whole recovery procedure is dependent on the manufacturer and its servers
Actually that's not true, the backup seed is standardized BIP-39 mnemonic code. It deterministically generates the addresses and keys from that so I can go to ANY wallet that supports BIP-39 recovery such as electrum and get every single private key back. Or I could just type my code in here iancoleman.github.io/bip39/ and it'll show me every single private key generated from it.

Emberburn
Emberburn

myetherwallet.com doesn't store the wallet online; all the wallet data is stored in the blockchain, and your JSON/private key+PW combo simply allows you to access that data and perform transactions using myetherwallet.

myetherwallet is specifically designed to enable you to easily access your funds while avoiding permanently storing any private key data on a networked machine. It also allows you to transact on the ether network without having to download the entire blockchain transaction history.

Nojokur
Nojokur

I would say more than likely not. The hacking must have occurred on his end, and if he did have a 2-factor authenticator, then there'd still be feasible ways for someone to hack him. Regardless, he would've had to have been completely reckless in regards to how he utilized his cellphone & computers. Especially if he's the type of faggot with an android device running 3rd party firmware and apps. It's just asking to get fucked over.

BunnyJinx
BunnyJinx

Fuck that. If you have any worthwhile money in any crypto, then you should have it in cold storage and in a security deposit box.

5mileys
5mileys

Just to make it clear, any coins are stored in the blockchain. If you have it in cold storage, it's still in the blockchain.

cum2soon
cum2soon

How do you "store on the blockchain"

That sounds nice

Bidwell
Bidwell

is it safer than Coinbase?

BlogWobbles
BlogWobbles

What about a software wallet like Elektrum?

And if you got one, would it still work if you take the PC off the internet?

happy_sad
happy_sad

Kek

Supergrass
Supergrass

Make paper wallet

BunnyJinx
BunnyJinx

If you're dumb enough to A. get a keylogger and B. not know how to check for it 2017, you deserve to lose your shit.

TreeEater
TreeEater

...depends.

I think Coinbase is insured, so as long as they're in business, and your account doesn't get hacked, you're probably in the clear.

However, you have to set up your account to properly utilize 2FA, and you have to change passwords regularly and keep them secure.

Cold storage you don't have to worry about that so much as long as you aren't connecting the device to a computer.

SniperWish
SniperWish

would it still work if you take the PC off the internet?

In what sense? You certainly wouldn't be able to send transactions with it if your computer is not able to access the internet, but you could use an airgapped PC with Elektrum as a very expensive cold storage option, sure.

Do you literally know nothing about computers?

Spazyfool
Spazyfool

This.

I swear, we're hitting bubble territory, because the people investing in this stuff literally know nothing about the basic tenets of cryptocurrencies, and couldn't explain to you how any of this shit works if their lives depended on it.

It's like watching retards rushing into the dot-com bubble all over again.

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