Ledger Nano S

There is good shill and bad shill, learn the difference.

is it open source?

>talks about "normal people getting into crypto"
>doesn't have a nano/hard wallet
>obvious nucoiner

God-tier

Sure, if you could actually buy one. All hardware wallets are backordered worldwide until like December.

It is. My only complaint is that it doesn't have much storage space, meaning you can only fit like 5-ish apps at a time. You can easily install and uninstall the various apps, but if you want to store a lot of different coins you need to either have multiple devices, or just install the app for your coin whenever you want to move them and then remove it to make space for the next one. Other than that, it's excellent.

They are nice, but be careful since there are some faggots trying to get upwards 200 dollars for one. They are 90$ at most.

YAS

I have one, but my problem is it's not compatible with every coin. At least not that I know of.

Only recently figured I could manage MYST and other eth tokens on it through myetherwallet.

Wtf is the point of these?

Doesn't the ledger make these practically pointless?

wat

wat

sure, if you can find one for less than 100 USD

These devices have their own microcontroller which prepares a signed transaction directly onboard. The private key never leaves the device. The signed transaction is further prepared using wallet client software like electrum and broadcasted to be added to the next block on the blockchain via a centralized wallet.

the ledger? like how coins actually keep track of what is being spent and make sure everything spent is authentic

i guess i dont know enough about computers but that sounds the exact same, and dont you need like 50 percent of the worlds computing power to break a key because of how blockchains work?

The point is storing your private key on a secured device, do you even know how crypto works? Lmao

Oh yeah so cracking the key would be really hard, much easier to find the key by stealing the file or keylogging the input. These devices help keep the key itself safe

There's no t enough computing power to crack a bitcoin private key unless there was not enough entropy in the random number generator used to create the key.

But private keys never go anywhere in the first place?...

It's basically impossible to find a wallet key but ok buy your meme sticks and keep holding dgb

Adding "entropy" doesn't make a key harder to crack, it just ensures randomness.

please, just do a quick search and take the time to udnerstand what hardware wallets do. Then come here and make a decent shitpost and not the steaming pile of dogshit you just wrote.

Only if you explain how a private key from a wallet could get stolen.

You need to learn about asymmetric encryption, specifically ECDSA and hashing functions like SHA-256 to begin to understand how digital signatures work.

You sign a transaction using your private key, then you broadcast it onto the bitcoin network, miners verifies whether:
A) You actually signed it with the right private key that derived the public key and therefore the hashed "address" it originated from
B) The hash of your public key has had the right amount of coins signed to it in the past (your balance)

After that's all verified, everyone's software understands that you intend to give someone else some of your balance, and everyone agrees there's a new owner of those funds. The idea is, PRIVATE keys are literally ownership of balance associated with the hash of a public key. If someone else has your private key, they can sign your coins to another address. These hardware wallets don't expose the private key to the computer they're attached to. They simply sign a transaction that says "I want to send this much of my balance to this person" and it gets broadcasted onto the bitcoin network through a 3rd party. If the transaction is modified somewhere along the line, it will be rejected by the network and eventually discarded because the hash in the signature will not match, and you keep your coins.

If you expose your private key to someone who's looking for them (pajeet is running a spyware botnet and he's able to see your private key in plain text on your computer)

Pajeet will just sign your balance to an address he has control of, and your bitcoins belong to him. The hardware wallets make pajeet mad because he won't be able to buy a toilet and cell phone minutes.

directory.io/

and your info is already publicly available so now what faggot?

If your computer is compromised, an attacker could look for common desktop wallets and grab your keys, the same way they can grab all your passwords if you store them in the browser (or an insecure manager).

OH NO I GUESS WE'RE ALL DOOMED EVERYONE, GAME OVER!

So should I just put my keys on a piece of paper that can't be comprised?

Sure, some people do that. Downside is a piece of paper can be physically stolen if your home is broken into. It's essentially the same as keeping all of your money in cash at home. A bit easier to hide, but still not very safe. A hardware wallet is like having a literal bank vault in your home and keeping your money there instead.

the best way to do it is to use a hardware wallet, and encrypt the binary private key, write the resulting ciphertext in hexadecimal on a sheet of paper, and the symmetric key on another page in the same format.

Just looks like two pieces of paper with hexadecimal all over them. Laminate, put in fire safe. If you lose your hardware wallet, you can recover it on an airgapped computer by re-encoding your private key in base58, importing it, and checking the balance.

How easy it is to find depends on how it is stored...

Security through extremely advanced obscurity. I like it. I'd probably do that if I had any bitcoin worth protecting...

You could even go an extra mile and encrypt the symmetric key with a two sections of 256 XOR'd bytes from a playable DVD.

They'd have to smash you with a hammer to get it out of you.

I bought mine for 60 and sold for 100 so it's good for reselling to crypto newfags

...

You are completely right man. I concur.