Topic: Can Trezor steal our bitcoins ? - page 2. (Read 2715 times)
I recommend using Trezor in a multisig configuration. That way even if your Trezor is compromised, you're still safe
Trezor uses bip-0032. The master private key (and all derived private keys) are kept on the device (except when the key is first generated, and bip-0039 is used to display words on the display).
After the master private key is generated, the parent public key is derived and made available to clients that connect to the trezor, such as mytrezor.com. This key is used to generate the child public keys, and thus the receiving addresses, but it cannot be used to generate the private keys. If this key were compromised, you could lose the privacy of your Trezor device, meaning that your entire balance could be determined, but it could not be used to steal your bitcoin.
After the master private key is generated, the parent public key is derived and made available to clients that connect to the trezor, such as mytrezor.com. This key is used to generate the child public keys, and thus the receiving addresses, but it cannot be used to generate the private keys. If this key were compromised, you could lose the privacy of your Trezor device, meaning that your entire balance could be determined, but it could not be used to steal your bitcoin.
Of course it is not. I have verified Trezor security by code review and inspecting all network traffic. I might be wrong, but i seriously doubt it. Besides that fact, more capable people than me checked it, too.
Never deposit all your coins into one single wallet ,or exchange ,online stufs never safe to get hacked or anything else,the thing is we must trust and they keep taking their fees but one day they can see 1/3 bitcoins and think i can get this and no one will be able to recover or do anything,the thing is there is a risk involved into any wallet provider.
Of course it is not. I have verified Trezor security by code review and inspecting all network traffic. I might be wrong, but i seriously doubt it. Besides that fact, more capable people than me checked it, too.
I was thinking about buying a Trezor, but what's the point when you need to be online and log in into that mytrezor site? what if that site ever goes online? it's pretty dumb to be honest, we wouldn't need any connection to the internet to use it, that doesn't sound very cold storage.
You can use the Trezor with other wallet software: http://doc.satoshilabs.com/trezor-faq/overview.html#which-wallets-are-compatible-with-trezor-hardware
No need to use the mytrezor site.
Are you program developer ? you can't know it's100% trust.
the seed show up on the trezor thats correct but it also synchronized with their site
the seed show up on the trezor thats correct but it also synchronized with their site
Not it's not. Do you have any proof of this?
The person who keeps all his Bitcoins on a single device deserve to lose it for being stupid. That might sound harsh but it's true. I do not trust any 3rd party with my coins after
the MtGox fiasco. Any electronic device can fail and you might lose the paper backup and the coins will be gone. Some people have even proven that they can hack the Trezor,
if they had physical access to it. {Using specialized tools} ... I keep lots of small quantities on separate media to reduce the risk and I think most people should do the same. If
one option gets exploited, you still have coins spread over other media and you do not lose everything at once.
the MtGox fiasco. Any electronic device can fail and you might lose the paper backup and the coins will be gone. Some people have even proven that they can hack the Trezor,
if they had physical access to it. {Using specialized tools} ... I keep lots of small quantities on separate media to reduce the risk and I think most people should do the same. If
one option gets exploited, you still have coins spread over other media and you do not lose everything at once.
I like to store my btc on a paper wallet. The Trezor is good if you wanna have some spending money and have access to it without worrying about a key logger. If have a massive amount if btc I would invest in a Trezor.
I was thinking about buying a Trezor, but what's the point when you need to be online and log in into that mytrezor site? what if that site ever goes online? it's pretty dumb to be honest, we wouldn't need any connection to the internet to use it, that doesn't sound very cold storage.
The seed and the PIN are generated in their site mytrezor.com
what makes me wonder if they have access to this sensetive info?
what makes me wonder if they have access to this sensetive info?
PIN is set by user and it is known by the Trezor device only. Your PC doesn't know it, because of the unique way you enter the PIN, see http://doc.satoshilabs.com/trezor-user/enteringyourpin.html
The same is true for the seed, when a new seed is being created entropy from PC and Trezor device is (provably) mixed in the device to get a new seed. Seed never leaves the device and is only displayed once on the Trezor screen during the initialization to let the user create a paper backup (24 words using BIP0044), that can be used in many 3rd wallets, see http://doc.satoshilabs.com/trezor-apps/index.html
Are you program developer ? you can't know it's100% trust.
the seed show up on the trezor thats correct but it also synchronized with their site
The seed and the PIN are generated in their site mytrezor.com
what makes me wonder if they have access to this sensetive info?
what makes me wonder if they have access to this sensetive info?
PIN is set by user and it is known by the Trezor device only. Your PC doesn't know it, because of the unique way you enter the PIN, see http://doc.satoshilabs.com/trezor-user/enteringyourpin.html
The same is true for the seed, when a new seed is being created entropy from PC and Trezor device is (provably) mixed in the device to get a new seed. Seed never leaves the device and is only displayed once on the Trezor screen during the initialization to let the user create a paper backup (24 words using BIP0044), that can be used in many 3rd wallets, see http://doc.satoshilabs.com/trezor-apps/index.html
The exchanges ,and companys of wallets can anytime take all bitcoins... we never know what may happen into this world,but you need to trust those companies as they are providing a service and collecting fees from it,otherwise they would scam you,there are several wallets options.
That's what they said about MtGox......
The exchanges ,and companys of wallets can anytime take all bitcoins... we never know what may happen into this world,but you need to trust those companies as they are providing a service and collecting fees from it,otherwise they would scam you,there are several wallets options.
I doubt very much they can access your privkey from that, so many people are always going on about how good trezor are and how secure so i am sure someone has checked them out. my biggest worry about using the trezor would be hardware failure and not being able to use it. i think fir the foreseeable future i will stick to good old paper wallets that i can backup.......
You can restore a broken trezors coins in many ways, e.g. even by restoring into Electrum as Curious8 mentioned, a spare trezor device or one of many scripts available. I doubt very much they can access your privkey from that, so many people are always going on about how good trezor are and how secure so i am sure someone has checked them out. my biggest worry about using the trezor would be hardware failure and not being able to use it. i think fir the foreseeable future i will stick to good old paper wallets that i can backup.......
in case of hardware failure you can always resotre your wallet with the seed in Electrum
is better use trezon than pc online
well it depend, on how you use your pc, if you don't download anything and run the client, only i can argue that it is as a safe as a trezor can be
you cna even build a mini-itx desktop just to run the client, it would cost you more than a trezor though
is better use trezon than pc online
I doubt very much they can access your privkey from that, so many people are always going on about how good trezor are and how secure so i am sure someone has checked them out. my biggest worry about using the trezor would be hardware failure and not being able to use it. i think fir the foreseeable future i will stick to good old paper wallets that i can backup.......
up
The seed and the PIN are generated in their site mytrezor.com
what makes me wonder if they have access to this sensetive info?
what makes me wonder if they have access to this sensetive info?
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