Another crap Amazon wallet find: Material Bitcoin - page 2.

stompix

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Quote from: Z-tight on June 30, 2023, 07:41:17 PM

Is this even a hardware wallet?

It's more like a business card with a QR you can get for 5$. Grin

And has 1 cent security features.

Quote

There are no logs, no databases, no temporary files, no nothing at all.
The private key exists only on the steel plate.
Not even our engineers can see the private key: It is calculated, engraved, erased from memory, hidden with a metallic vinyl and enveloped in an watertight aluminum heat seal. Many layers ensure the privacy of your plate.

When you go overboard with this kind of description it's a clear sign nothing like that is happening and they are taking like 100 backups of your keys before they ship it. Anyone else had a coldkey.eu moment while reading this?
Anyhow, this is quite funny, since nobody sees this, even if the process and security is genuine there is no guarantee the machine actually engraved that private key on the wallet or hasn't failed to stamp a few letters, which would be quite interesting... to find out after you loaded it! Cheesy

Also, they sell "BITCOIN PURCHASE SIGNALS"
https://materialbitcoin.com/en/product/bitcoin-purchase-signals/
Just $400 a year, lol.

m2017

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keep walking, Johnnie

Well, what to say about Material Bitcoin? Nice piece of stainless steel for $100.

And also, an ideal business model designed to swindle simpletons.

Is it possible to complain about the seller on Amazon or leave negative reviews (low rating) to protect unknowing buyers from a fatal mistake? Although, in fact, they have nothing to blame, so far.

No one has the ~~guts~~ extra money to buy this plate and top up their wallet to see what happens after that?

Pmalek

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Farewell, Leo. You will be missed!

Another thing that I noticed is that they have 3 different types of steel plates. Apparently, the Standard and Customized plates have a sticker on the back that protects the private keys. the 3rd one, DIY, allows users to engrave 12-word seed phrases.

The DIY is the only steel plate that makes sense because you can use it as a metal backup for one of your wallets. And that plate is the cheapest at $59. The other two where you have to use the private keys they generated cost $89 and $199, and include bullshit features like your real name written on the top, etc.

But there is no need to worry because the company offers a

Quote

100-year guarantee.

https://materialbitcoin.com/en/

tabas

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It's like a printed wallet address with the actual address listed there and the qr code. Whoever is the manufacturer of this is fooling its customers. With all of those claims and stuff, I worry that there will still be some people that will buy this piece of steel at its expensive rate.

Quote from: logfiles on June 30, 2023, 07:21:05 PM

I had to look for their website (materialbitcoin.com)and have a very good laugh

The slogan! "Buy bitcoin with the safest wallet in the world"

Quote

Buy now your MATERIAL BITCOIN wallet and, as soon as you receive it, we will put bitcoin* in it.

Just like that Grin

It really says that they're the safest, LOL and with that promotional video playing on the background. It's being put on a safe together with gold. Whoever owns a Ledger wallet has also that piece of paper where you can write the private keys behind, it's not so different on this one but it's just made of steel. So if someone who owns this and misplace it, well, goodbye funds if the PK is written at the back of this steel card.

The Sceptical Chymist

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Quote from: Z-tight on June 30, 2023, 07:41:17 PM

Is this even a hardware wallet?

Nah, not one that has actual electronics in it as we typically think of HW wallets as having, but this is the only section a thread like this fits in. There's not a child board for...whatever this piece of metal with a peel away sticker is classified as.

And sure, you do have to use a SW wallet like Electrum (or I guess bitcoin core would work as well) if you're ever going to spend coins that you've funded the address with. It sort of reminds me of the Satochip that has to be plugged into its proprietary card reader and used with an outdated version of Electrum. If you were a penny-pincher, you'd probably just skip all this shit entirely and just use Electrum without all these fancy cards. Lol.

Pmalek

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Farewell, Leo. You will be missed!

This is the equivalent of a paper wallet but on a steel card.
I have just had a look at their website, and there are some goodies there.

They claim they use military-grade security and that they have developed a wallet (it's not a wallet) that is immune to hackers.
After the card gets shipped to you, they will fund it with the amount you want. Huh

I really love this part:

Quote

You don't need to rely on anything to use your Material Bitcoin Wallet.

You need to trust their unhackable method of adding a metallic security strip over the private key that absolutely no one can see. But hey, don't focus on that. Focus on Buy bitcoin with the safest wallet in the world.

Let's talk about how to withdraw your coins from the wallet. After you peel off the military-grade metallic security strip Roll Eyes

, you have to manually enter the private key into whatever wallet you are using character by character.

Check out their tutorial on how to do it on a phone where they suggest installing a different mobile wallet:

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Take off the metallic strip covering your Material Bitcoin’s private key and copy all the digits into the notepad app on your mobile phone.
Copy and paste it into the Blue Wallet app by clicking on the “Paste” button to import your Material Bitcoin’s address.
Erase the first 6 digits (p2wpkh:) and click on the “Import” button to link the Blue Wallet app to your wallet.

That's how the military does it btw.

https://materialbitcoin.com/en/
https://materialbitcoin.com/en/blog/how-to-send-bitcoin-from-your-wallet/

Z-tight

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Is this even a hardware wallet? It is a cold wallet with only a BTC address and a private key engraved on a steel. To withdraw BTC from this wallet one will still have to use a wallet software like BlueWallet or Electrum to import the private key, this is the only way to spend from this wallet because it does not have any mobile software of its own.

I don't even see any advantage of using this cold storage that we are not sure how the private keys is generated and you still have to use Electrum or BlueWallet to withdraw from it, instead of anybody using this wallet, they can easily use Electrum that's recommended to create their own air-gapped wallet that will never be connected to the internet, or just buy a good hardware wallet like Passport.

logfiles

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I had to look for their website (materialbitcoin.com)and have a very good laugh

The slogan! "Buy bitcoin with the safest wallet in the world"

Quote

Buy now your MATERIAL BITCOIN wallet and, as soon as you receive it, we will put bitcoin* in it.

Just like that Grin

Quote

Private Key

Hidden by an adhesive metallic security strip.

(This is the equivalent of your PIN code.)

Withdraw bitcoin from your wallet

Yep, they guarantee you no one saw that private key hidden behind the adhesive security strip

Because;

Quote

Not even our engineers are able to see it. A metallic security strip and a heat-sealed aluminium package ensure the wallet's privacy.

Only you can access it.
Robotic process

Material Bitcoin's manufacturing process is completely automated, and takes place in a guarded room with restricted access.

The Sceptical Chymist

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HW wallets have kind of fascinated me since I first learned of them, and I often check Amazon to see what new products are coming to market--for lack of a better place to browse such information; if anyone has a better idea, I'm all ears. Anyway, I stumbled across this piece of garbage today (hopefully the image shows up, as it's my first time using talkimg.com):

This looks to me to be a less useful variation of a Ballet wallet, with just one BTC address and private key.

The kicker is this statement:

Quote

VERY SAFE: Your bitcoins are kept disconnected from any network, without electricity, so they are impossible to hack. In addition, we do not store any private keys, nor do we have any way of accessing them.

Well, ya fuckin' generated the private keys for all the wallets you made yourself, so sure you won't be able to access them after you've distributed them to resellers, but just like Ballet wallets you have to trust that you didn't make a master list....and Jesus, if you can't even trust Ledger anymore, why in the world would anyone trust Material Bitcoin? Unless I've missed it, they're an unknown manufacturer with no reputation.

Blows my mind. But it doesn't look like many people have bought this wallet so far, as there aren't many reviews and the ones that are there are probably shills. And look at how much they're asking for this piece of shit!

Topic: Another crap Amazon wallet find: Material Bitcoin - page 2. (Read 306 times)