Veeky Forums explain to be the advantage of using a ledger nano over putting a hardware wallet on a cheap usb stick

Thanks, that's helpful.

So if you have the price locked, how do you unlock it and what happens then?
If you're locked at a higher price than current value, is it possible to sell at that price?

Zozzle

This lock thing is a meme. Maybe there is a lock/vault function where funds can’t be touched unless the price reaches x. This too would be stupid bc what exchange would it use to verify the price?

Gox of course

The thing signs transactions and “holds” your keys. This goes for any wallet.

>over putting a hardware wallet on a cheap usb stick

Yes, that’s the best part. You should unlock when the bitcoin prices are cheap, and then price lock when it’s high. Like when BTC hit $20k you should have price locked

>tfw locked at $6k because some omegafaggot told me it will go to $4k.

>USING A HARDWARE WALLET

suckers they saw you coming a mile away

>hey lets sell these fucking nerds a usb stick for 200 dollars LOL

He's trolling you, bro

I got a Nano S last year back when I was holding a lot (for me anyway, 5) BTC. I was leaving them sitting on Electrum and wanted something that made me feel safer. I never could get the Nanos BTC wallet set up and ending up dumping my BTC bag at 17K anyway.

Recently I tried again, and I was able to set up the Nano for my XRP. Just beware the Nano won’t hold all coins so make sure you check the list first

Why do ppl fuck with every reasonable question on this board.
Sorry bro. Google it.

lel this

>pin code
Or just encrypt the flash drive

>can be recovered with 12 words
Almost every wallet can be recovered with a mnemonic seed

>integration with other wallets
Useless

>price lock
Meme

People with real money encrypt their wallets and only access them on airgapped machines. They send btc out of those wallets by signing transactions on an internet connected machine. Not only are these hardware wallets memes, they could also potentially be an unnecessary liability

>buy cheap laptop and remove wifi card/bluetooth and severe the antennas
>Install Linux
>encrypt hdd
>Install electrum
>Encrypt wallet
>Encrypt mnemonic recovery seed
>Export encrypted mnemonic recovery seed into a QR code and back it up on paper/hardware
>Purchase ehdds/flash drives with cash in-store
>Encrypt the ehdds/flash drives and backup your encrypted electrum wallet on them
>Store your backups in several different locations including safety deposit box so
>Never forget your password
>Never taint your airgapped machine
The only point of attack in this scenario, a part from getting your nails ripped off, is physical access, and even then there are things you can do to identify tampering. Stop being lazy and store your coins properly

How about storing wallets on a mirrored volume, dropbox and two USB sticks, and all private keys and or wallet passwords on a KeePass database also in those same USB sticks ...

You guys realize your recovery words get converted into your actual private key right?
The main advantage is it can't be key logged

You have owned a Trezor before, right? You should at least know the ins and outs of a product before you go spewing bullshit.

where are the keys stored for all of those encrypted thingiepoos?

Your head

My friend did that with a couple thousand bitcoin. Corrupt even though he didnt use it. Expensive lesson, still dont understand how he hasnt killed himself

brilliant, cant find a single flaw

> get amnesia
> lose your lifesavings

>>buy cheap laptop
>>Purchase ehdds/flash drives with cash in-store
>>purchase safety deposit box
or you could just buy a $50 ledger and not worry about anything you retard

Why didn't he write down his recovery words?

How is the USB aspect actually secure? Can't a hacker develop a trojan meme that rips data from a Ledger that's plugged in via USB? and LOL @ fucking with redditors

*Hurr I forgot my password to millions of dollars of Bitcoin*

If someone is this retarded then they could create a password that can be recovered through a sequence of steps that are so ridiculous that only they could figure them out. Otherwise, they should just kill themselves

Fast and free, this will usurp Bitcoin once the FUD of bitgrail's shitcode passes.

It's interesting how the 24-word seed key words. It essentially contains the private key, if that's how you can describe it. Would be interested behind the mechanics of how all that works, if such a think were possible for a layman like me to understand without having a PhD in Mathematics.

What exchange does it use to lock value? One in Zimbabwe or Korea? How does it communicate with this exchange? What happens if this exchange goes offline? Does Trezor Tether you up at the lock and buys you back in for equal BTC at unlock?

> spewing shit
Listen fucker. Your wallet does not work like an exchange. There may be some lock function, but the meme behind it is not real. You’re like a normie who thinks the iPhone air-drop feature allows you to drop the phone without harm

it just stores the current prices, that's all you can't really lock the prices of the coin ...

The safety deposit box/multiple storage locations part also applies to ledger memes you enormous faggot. Ledgers are not as secure as what I described. But feel free to store your bitcoins how you'd like

Oh fuck, I accidentally summoned a Stallman praising /g/tard.

LOL!!!

I haven't been to /g/ in over 2 years. Stallman and Gentoo memes were the only things that board had going for it. The rest of the content consisted of consumerism and HelloWorld.c threads. I doubt anything has changed

>short version, you have to store those somewhere/somehow too
yeah I know

what do you mean? It's recoverable most likely you mongols.

>Ledgers are not as secure as what I described
yeah, they are. I could give you my ledger as a present and you wouldn't be able to do jackfuck with it.

We can agree though, right, that using a Ledger may be a much safer option than not? Yes, one could use even more secure methods such an airgapped computer, as some have mentioned here. But is it safe to safe a Ledger is a pretty good option (Or Trezor for that matter)?

>i hit it with a hammer
>it fragments into a hundred pieces
now wat

>safe to say

You fail to grasp the entire attack service of someone wanting to steal your coins. I gurantee that if you're ever targeted you will lose them

Maybe that's why every Ledger Nano S being sold on Amazon has the tamper seal broken.

now I use my seed to recover my wallet on a new ledger

That makes more sense, thanks

Valid point, but this can be said for anything worth stealing I assume, right. Nothing is 100% secure, but one can attempt to make it reasonably secure from most methods, no.

All private keys will become obsolete once we know enough neuroscience to scan the brain for memories.

So one seed for all coins/tokens?

what did he throw in the bottle? worms?

because people memorize there private keys? I don't get it...

...

Plz stop bully. I heard from my cousin who died in the florida school shooting that N Cruz was so mad because he price locked his nano at the bottom. Just terrible.

>Dropbox
>not Mega

You're not gonna make it

The 24 word passphrase.

In the near future, they will arrest you for dealing with cryptocurrecies, strap a helmet on you, and ask you for your wallet's reset passphrase.

You won't say it, but it'll be on the tip of your tongue, and they will scan your brain at that moment to figure out what it is.

Exactly. That's why I described one of the more secure methods of storing bitcoins. All of this can be accomplished for < $100 in a Sunday morning. Ledgers are for normies who want an upgrade from storing their coins on the exchange they purchased them from. No one who has been involved in Bitcoin for more than 4 years uses that trash

BACK IN 2013 I ENCRYPTED A PASSWORD TO AN ENCRYPTED WALLED IN A PGP MESSAGE BECAUSE AT THE TIME PGP WAS THE MOST SECURE OPEN SOURCE MESSAGE ENCRYPTION TOOL

PGP GOT TAKEN DOWN AND I CANNOT FIND THE NECCESARY SOFTWARE TO DECRYPT THE MESSAGE

CONSIDER WETHER THE SHIT YOU USE WILL EVEN EXIST WHEN YOU NEED IT

You don't deserve your Bitcoin.

So your point is that if someone really really wants your coins they'll torture your for your pin/passphrase?
I fail to see how your method would solve this problem
You also failed to demonstrate how that would improve the security over storing them in a ledger nano

>b-but your ledger can be hacked if it's not airgapped!
well so can your laptops, or do you think the NSA didn't leave some nasty surprises behind?

Point being, anyone that can steal your coins from a ledger, can steal from your convoluted mess

back in 2013 i had 0.2 BTC worth of shitcoins on cryptsy and some fucker drained my account
then cryptsy went down anyways

but ledger is not cool because it's mainstream, easy to use and doesn't allow for user to play out his hackerman fantasies

the ledger helps me sleep easier however i noticed their subreddit has alot of noobs complaining
reddit.com/r/ledgerwallet/

lol you faggot price locking is a meme

hahahahaha

Just put your encrypted wallet file onto your USB
It's literally a scam ledger is a scam

GUYS should I wait a few days before locking in my bitcoin? Not sure if its going to drop or not

The point of HW wallet is that the private key never leaves the key, it's like creating transaction on a offline computer with a wallet and your private key. And on top of everything you have to physically type the PIN on the key to confirm the withdrawal, so it's pretty safe.

The price locking is a meme, it may at most store the current prices of the coins, but that's about it.

to lock your coins

uh...yeah I barely even look at my passphrase
feel like this won't at all work on really anyone

wait, are you saying you actually mem...aha....hahaha.....ahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha

A USB stick can be hacked extremely easy. A ledger cannot.

>I fail to see how your method would solve this problem
1. It's not my method. People have been doing this for years before this ledger shit came out. 2. I mentioned that it wouldn't solve that problem, so wtf are you on about?

>You also failed to demonstrate how that would improve the security over storing them in a ledger nano
From my understanding, the ledger doesn't support signing transactions offline. Even so, to securely use your ledger you'd need to fucking have an airgapped machine with that shitty ledger wallet software installed on it, export the signed transaction to a QR code, and then import it on an internet connected device, so the ledger would be completely useless anyway. Plus there's the whole issue of it being a huge fucking target. There's manufacturer and transportation security to worry about.

>b-but your ledger can be hacked if it's not airgapped!
>well so can your laptops, or do you think the NSA didn't leave some nasty surprises behind?
Of course a non-airgapped laptop can be hacked. Wtf are you on about? The whole storage method I described is built on this premise.

>Point being, anyone that can steal your coins from a ledger, can steal from your convoluted mess
This is not true. Stealing from a faggot's ledger is as easy as attacking the computer where they have their wallet software installed. Or maybe just attack the shitty ledger wallet software. And if that wallet software is on an airgapped machine then the fucking ledger is a waste of money anyway.
The method I described is not convoluted. Anyone who knows how Bitcoin works could easily setup a wallet using the method I described. Fuck off

yeah sure wait a few day blahblahblah lock it then with the lock feature that exists hurr durr

oh shit bois we got a live action sperg over here

You can lock the price of your coins.

Was reply to this faggot

wow you're retarded. educate yourself before you spout bullshit about a topic you have no clue about

Never use that shit unless you wanna be jewed out of your gains.

just look into what a hash is.

itll take any input and turn it into a big string of random characters. any small change in the input will create a completely different hash, but the exact same input will create the exact same hash.

so 24 words go as the input, getting one word wrong will create a totally different set of keys, but getting all the words right will always produce the same keys.

Serious question, is the current iteration of the Nano S quantum proof?

Thinking about buying one for my links that I'd like to hold for 8+ years.

yea you could do all this, but you'll also have to deal with change addresses and re-securing your funds every time you want to do a transaction, because chances are whatever you stored isn't the exact amount you want to send.

The ledger interfaces with the ledger wallet software to send transactions, does it not? If the system the ledger software is on is connected to the internet then how could that possibly be secure? If the system is airgapped then why would you use the ledger in the first place?

This basically. A standard USB can't use the full blockchain protocol to lock the price.

The private keys are stored on the ledger and is not revealed to the terminal you're on. You need physical access to the device to sign a transaction.

don't use passwords
stamp private key on stainless steel (2x) and hide it

bump
pls

No you dumbass. The transaction gets signed on the ledger and the PC sees only the signed transaction. The key never leaves the device.
You need physical access to the ledger to do anything with it. It's equivalent to an airgapped gentoo PC.

no you have a main wallet airgapped fir hodl stack and trading profits, and few smaller online wallets online for trading

Are you retarded?

What a chadboss horee sheeet, asian overlord

pls bros help a bro out

you have to lock in

>Plug ledger into computer
>microcontroller gets flashed with malicious firmware and its memory gets dumped
>Thinking ST31 is secure

>Buy ledger
>Manafactuer sends your a ledger with a maliciously flashed microcontroller

>Buy ledger
>NSA intercepts the package and flashes the microcontroller while working with the IRS to steal money from NEETS

You are retarded if you think this is anywhere close to being as secure as a properly airgapped system bought at a physical location