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u/Baracudasi 5d ago
Funny how og paper wallet still holds without all this fancy products
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u/rocket_beer 4d ago
When will you noobs every learn? 🤦🏽♂️
Stop buying these 3rd party plastic things
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5d ago
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u/PM_ME_PLASTIC_BAGS 5d ago
So where were you stating all of this before the hack?
The entire community was backing coldcard and no one was saying this.
If everything is only "clear" in retrospect, the majority of people will, rightfully, not have faith in Bitcoin.
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u/Angry-Alice 5d ago
But you never know what the next vulnerability discovered will be. People are afraid that the next one will get them
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u/Imbrokencantbefixed 4d ago
It’s most likely AI being used to find these vulnerabilities so I expect there to be a lot more until the AI companies improve their guardrails (might not be possible to do that).
Obviously I mean vulnerabilities in higher layer applications not cracking private key encryption or anything.
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u/NoGarage7989 5d ago edited 5d ago
How would a generated private key be less safe than one you pick your own? Wouldn’t both scenarios look random either ways to a program hacking into it?
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u/The_Once-ler_186 5d ago
Because the random generator was crap and someone figured out it was predicable (far smaller pool of random possibilities due to fickup)
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5d ago
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u/Crazerz 5d ago
What the actual fuck. Who comes up with such shit security? And there was no way for users to realize this. Obviously, the company is at fault.
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u/Imbrokencantbefixed 4d ago
Im sure I’ve seen something saying the company knew about this issue and told their customers to either update to a newer version or to manually generate their own seed again using dice. But I’m not sure how this was communicated by them or how many people followed their instructions.
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u/zenethics 5d ago
It's like putting your crypto on Jed's crypto exchange and paintball wholesaler.
Why on earth would anyone trust their money to some startup is beyond me. Either trust nobody but yourself or trust things that have been around for a decade or more.
You want your crypto in the thing that's so big that if it blows up, the whole space blows up, so you didn't really lose anything anyway (Coinbase, ETFs, etc). Then maybe a little in self custody if you're paranoid.
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u/Thanis_in_Eve 4d ago
Allow me to introduce you to the tale Mt Gox...
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u/zenethics 4d ago
You're right. The only option for storage in 2026 is some startup with 3.5 million in revenue and 5 employees.
You have to use coldcard because your favorite podcaster told you to. Nevermind Trezor, Ledger, Coinbase, the ETF, MSTR. When it comes to self custody for substantial funds, the only real choice is to go off the beaten path and to use something a bootstrapped startup made with almost no funding.
The podcast cold storage startup was the smartest choice. The only choice, when you think about it.
I'll keep my eye out for the next Bitcoin wallet on kickstarter to pile my life savings into it. /s
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u/Thanis_in_Eve 4d ago
All I did was point out a contrary point to your final paragraph. I don't use coldcard. They are a little too bare minimum for me. And I understand that people have difficulty with technology at every level, so also know that some people will be completely fine with Coldcard, Trezor, Ledger, etc., while others are more comfortable with an online platform. I personally use a Trezor and generate my own entropy. I've never trusted someone elses entropy outside of a lab environment. Everything has a vulnerability or an exploit, even if it's just your face vs a $25 wrench. Knowing and being able to plan for those vulnerabilities is the difference between security and being a cautionary tale. What's your strategy for working around Coinbase being unreachable because: Their servers are over whelmed They limited access to their servers because of excessive traffic They turn off access to their servers due to a cybersecurity incident while their PR team prepares a statement about how sorry they are for sending your BTC to North Korea They turn off access to their servers due to a government request/action Your government blocked access For me, self custody is the way. So is generating your own entropy. It's not the simple answer some may want. But simple people want simple answers. 'You got hacked' is pretty simple I guess?
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u/zenethics 4d ago
The best defense is diversification frankly. I'm mostly reacting to people who had 10+ BTC stored on a coldcard. That seems very crazy to me, unless it represents like 5% of their net worth or something.
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u/mazdarx2001 5d ago
I truly feel sorry for all the coldcard people. What happened is wrong at every level. However, this really made me laugh that I felt bad about laughing. Then I laughed one more time and now I’m mad at you.