Hardware wallets are unsafe | Bitcointalksearch.org

avw1982

hero member

Activity: 644

Merit: 500

Quote from: Decoded on November 13, 2015, 12:53:24 AM

Basically all forms of bitcoin storage are unsafe. Physical wallets can be lost or corrupted, and online wallets can be hacked, along with something like Bitcoin Qt. You just have to know all the safety measures people take, and use them yourself. I, for one, use 4 types of authentication on my coinbase account. #SafetyFirst. Cheesy

Right Dude I also using Coinbase account they are very good.Recently they introduce the feature in Coinbase called PurseIO and authentication always used to send to your E mail and If you sign in from other device means also they sent you a confirmation mail and Even Blockchain also have good policies Both are safest wallet according to my view

Kakmakr

legendary

Activity: 3514

Merit: 1963

Leading Crypto Sports Betting & Casino Platform

Quote from: odolvlobo on July 16, 2015, 12:47:03 AM

Quote from: anderson00673 on July 15, 2015, 05:35:29 PM

Maybe I missed it, but they don't say which HW wallets are using this? Are all of them?

You didn't miss it. There are no hardware bitcoin wallets that are at risk.

I guess that is true, if you are not in possession of the physical device. There are people claiming that they can extract the private key from the device, if they use specialized tools and knowledge. See this article for more information : http://www.hackinsight.org/news,303.html

The best way to protect your coins, comes down to coin management and distribution. You need to manage the risk and keep 80% or more of your coins in cold offline storage. Roll Eyes

John (John K.)

legendary

Activity: 1288

Merit: 1227

Away on an extended break

Quote from: Decoded on November 13, 2015, 12:53:24 AM

Basically all forms of bitcoin storage are unsafe. Physical wallets can be lost or corrupted, and online wallets can be hacked, along with something like Bitcoin Qt. You just have to know all the safety measures people take, and use them yourself. I, for one, use 4 types of authentication on my coinbase account. #SafetyFirst. Cheesy

Still doesn't solve the problem of coinbase getting gox'ed. Tongue

RustyNomad

sr. member

Activity: 336

Merit: 251

I'll just stick with my Trezor until such time as it's proven to be unsafe for storage/use.

At this stage it offers the best balance between usability and security. If it ever gets proven to be unsafe then I guess paper wallets will be the way to go.

Decoded

legendary

Activity: 1232

Merit: 1030

give me your cryptos

Basically all forms of bitcoin storage are unsafe. Physical wallets can be lost or corrupted, and online wallets can be hacked, along with something like Bitcoin Qt. You just have to know all the safety measures people take, and use them yourself. I, for one, use 4 types of authentication on my coinbase account. #SafetyFirst. Cheesy

Bud Spencer

newbie

Activity: 42

Merit: 0

If you loose your cash wallet what happens? Finder of it steals your money.
If you loose / get stolen your hardware wallet; "some people may steal your money" (with 0.000001% chance).
Till the thief extract your priv keys; you can transfer them somewhere safe.

So; it's still safer than fiat.

jukeebox

newbie

Activity: 33

Merit: 0

Keeping your bitcoins in an online client is not effective IMO, maybe a paper wallet or an offline computer is the best option.

Ingatqhvq

hero member

Activity: 532

Merit: 500

Quote from: ransomer on July 15, 2015, 03:53:17 PM

After recent rumours of security loopholes in Electrum, another hardware solution is facing problems:

http://www.coindesk.com/hardware-vulnerability-could-compromise-bitcoin-private-keys/

Keeping bitcoins safe is really problematic.

Yes, one of the biggest problem is how to keep your coin safe with a simple way. If the hard wave can't keep your private key offline, then it is unsafe.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: ransomer on July 16, 2015, 02:33:48 PM

Quote from: tiggytomb on July 16, 2015, 06:45:32 AM

It is quite funny and amazing that the safest way turns out to be having a paper wallet tucked away somewhere, obviously not 100% safe but seems like the better option as you can't hack a piece of paper.

Yeah, that is why we need a satoshi like innovation now....

Someone needs to come up with a way for people to easily store btc safely.

usb are still 100% safe, they are not connected to anything, how can they still the private key inside those?

what is matter is how secure is your desktop not actually the storage

ransomer

newbie

Activity: 56

Merit: 0

Quote from: tiggytomb on July 16, 2015, 06:45:32 AM

It is quite funny and amazing that the safest way turns out to be having a paper wallet tucked away somewhere, obviously not 100% safe but seems like the better option as you can't hack a piece of paper.

Yeah, that is why we need a satoshi like innovation now....

Someone needs to come up with a way for people to easily store btc safely.

lorylore

legendary

Activity: 1470

Merit: 1002

Quote from: NeuroticFish on July 16, 2015, 07:45:00 AM

Quote from: lorylore on July 16, 2015, 07:20:38 AM

Quote from: NeuroticFish on July 16, 2015, 07:02:14 AM

Quote from: lorylore on July 16, 2015, 06:51:10 AM

What do you mean by paper wallet ? real life paper? you mean that !!! can't really understand it

Yes, there are web pages which you ~~can~~ should download for offline use and which can generate basically one or more pairs of public keys (addresses) and private keys.
You print the private key on a paper (yeah, that obsolete thing used for reading in the past) and put it into your safe box.

Well a good idea, but a hard way to implement to re use it, can you suggest me few web pages that offer this service ?

One is https://bitcoinpaperwallet.com/bitcoinpaperwallet/generate-wallet.html and in the bottom right it has a "Secure Download (GitHub ZIP file)" for local use.
Another is https://walletgenerator.net/ with "Download (GitHub Repository)" at page bottom.

I suggest that after download (and unpack to an USB stick) you should AT LEAST:
- verify thoroughly your system for malware, viruses and keyloggers
- unplug internet
- after generating and printing the wallet reboot your computer THEN plug back the internet cable

Even safer would be a virtual box with Linux where you generate the paper wallet.

Thank you for explaining this to me and to us. i am going to take a look and experimenting with them right now.

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: lorylore on July 16, 2015, 07:20:38 AM

Quote from: NeuroticFish on July 16, 2015, 07:02:14 AM

Quote from: lorylore on July 16, 2015, 06:51:10 AM

What do you mean by paper wallet ? real life paper? you mean that !!! can't really understand it

Yes, there are web pages which you ~~can~~ should download for offline use and which can generate basically one or more pairs of public keys (addresses) and private keys.
You print the private key on a paper (yeah, that obsolete thing used for reading in the past) and put it into your safe box.

Well a good idea, but a hard way to implement to re use it, can you suggest me few web pages that offer this service ?

One is https://bitcoinpaperwallet.com/bitcoinpaperwallet/generate-wallet.html and in the bottom right it has a "Secure Download (GitHub ZIP file)" for local use.
Another is https://walletgenerator.net/ with "Download (GitHub Repository)" at page bottom.

I suggest that after download (and unpack to an USB stick) you should AT LEAST:
- verify thoroughly your system for malware, viruses and keyloggers
- unplug internet
- after generating and printing the wallet reboot your computer THEN plug back the internet cable

Even safer would be a virtual box with Linux where you generate the paper wallet.

HCLivess

legendary

Activity: 2114

Merit: 1090

=== NODE IS OK! ==

if you download a hacked keylogger firefox from fir3foks.ru and it steals your bank account information, who is to blame?

lorylore

legendary

Activity: 1470

Merit: 1002

Quote from: NeuroticFish on July 16, 2015, 07:02:14 AM

Quote from: lorylore on July 16, 2015, 06:51:10 AM

What do you mean by paper wallet ? real life paper? you mean that !!! can't really understand it

Yes, there are web pages which you ~~can~~ should download for offline use and which can generate basically one or more pairs of public keys (addresses) and private keys.
You print the private key on a paper (yeah, that obsolete thing used for reading in the past) and put it into your safe box.

Well a good idea, but a hard way to implement to re use it, can you suggest me few web pages that offer this service ?

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: lorylore on July 16, 2015, 06:51:10 AM

What do you mean by paper wallet ? real life paper? you mean that !!! can't really understand it

Yes, there are web pages which you ~~can~~ should download for offline use and which can generate basically one or more pairs of public keys (addresses) and private keys.
You print the private key on a paper (yeah, that obsolete thing used for reading in the past) and put it into your safe box.

BTCLovingDude

legendary

Activity: 1134

Merit: 1010

BTC to the moon is inevitable...

Quote from: I E on July 16, 2015, 05:56:59 AM

Hardware wallets = unsafe

Website wallets = unsafe

Your wallet = unsafe

My wallet = unsafe

What wallet should i use = unsafe

abandon ship!!!

lorylore

legendary

Activity: 1470

Merit: 1002

Quote from: ransomer on July 15, 2015, 06:16:13 PM

Quote from: lorylore on July 15, 2015, 05:57:37 PM

If hardware wallets are unsafe what should we use then? we cant go for anything else, just using the cloud lol

Paper wallet is the only thing that is somewhat safe.

Sad that such a backward solution is the best one we can come up with. Looking forward to the next revolution in this space that makes owning btc safely easy.

What do you mean by paper wallet ? real life paper? you mean that !!! can't really understand it

tiggytomb

legendary

Activity: 1848

Merit: 1000

It is quite funny and amazing that the safest way turns out to be having a paper wallet tucked away somewhere, obviously not 100% safe but seems like the better option as you can't hack a piece of paper.

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: I E on July 16, 2015, 05:56:59 AM

Hardware wallets = unsafe

Website wallets = unsafe

Your wallet = unsafe

My wallet = unsafe

What wallet should i use = unsafe

Exactly. Welcome to the coin of the future! Grin

I E

member

Activity: 62

Merit: 10

💎 💎 💎 💎 💎

Hardware wallets = unsafe

Website wallets = unsafe

Your wallet = unsafe

My wallet = unsafe

What wallet should i use = unsafe

Topic: Hardware wallets are unsafe (Read 1882 times)