How many people are using bitcoin wallets? - page 2.

Lucius

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Quote from: Charles-Tim on December 08, 2021, 04:00:42 AM

Offline wallets are:
Paper wallet
Hardware wallets
Wallet on airgapped devices (like Electrum cold storage)
~snip~
But unlike online wallets, your seed phrase and keys will remain offline, making it impossible for online attack to be able to reveal the seed phrase and keys to online attackers.

It is wrong to call hardware wallets "offline wallets", especially if we associate it with their usual use, and for that we need the Internet - whether it's outgoing transactions, installing a coin app, or firmware update. It is true that seed is generated offline on the device and that there is currently no publicly known way to remotely hack such devices - which does not mean that one day it will not become a reality.

Every time you connect your HW to a computer or smartphone that is online, there is a possibility that something bad could happen, and I don't just mean clipboard malware.

LoyceV

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Quote from: ?? on ??

Blockchain.com chart (https://www.blockchain.com/charts/my-wallet-n-users) suggest the number of people is closer to tens of millions though, since there are almost 80 millions unique wallet created on blockchain.com.

I've created several wallets on Blockchain.info (nowadays .com) too, but that doesn't mean I use them. So I guess they include dormant accounts, multiple accounts per user, and accounts containing only altcoins.
Saying they have 80 million unique wallets is like saying Bitcointalk has 3.4 million unique users. Lol.

NeuroticFish

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Quote from: miki002 on December 08, 2021, 03:50:59 AM

Are offline wallets safe?

If a wallet was created by a good software (without errors, without in-built vulnerabilities like making the addresses by a rule the programmer can also easily obtain the private keys for those wallets) and, generated offline and that device/private key will never go online, then yes, they're safe.

However:
* different unrelated questions should go to different topics, else mix-up between answers can happen
* you should ask in more words - more clearly - your questions, else you may get very generic answers you may not find really useful

Charles-Tim

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Quote from: LoyceV on December 08, 2021, 03:48:12 AM

My guess: several million people own and use at least one Bitcoin wallet. This is much less than the estimates of hundreds of millions of Bitcoin users I've seen, so my assumption is most of them keep "their" Bitcoin on exchanges.

Yes.

I do not know how custodial wallets are designed, the design may differ from one another. But also most of them or all of them are using just one, two or few wallets to generate addresses for users. It will also contribute.

Quote from: miki002 on December 08, 2021, 03:50:59 AM

Are offline wallets safe?

This is in contrast to this thread that you created. But yes. It depends on you also, you have to still be careful of offline attackers like strangers and enemies that people are thinking are friends, never trust anyone and keep your seed phrase or private key in a place not vulnerable to damages or attacks.

Offline wallets are:
Paper wallet
Hardware wallets
Wallet on airgapped devices (like Electrum cold storage)

Also you will still have to be careful of clipboard malware, best to generally stay away from malware. Clipboard malware can still be capable of changing recipient's address to a hackers address when making transaction. The reason it is good to check and recheck the address you are sending coin to.

But unlike online wallets, your seed phrase and keys will remain offline, making it impossible for online attack to be able to reveal the seed phrase and keys to online attackers.

miki002

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Are offline wallets safe?

LoyceV

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Quote from: NeuroticFish on December 08, 2021, 03:31:58 AM

You can easily find out how many addresses have funds.

About 39 million.

Quote from: LoyceV on August 01, 2020, 04:06:06 AM

But this is not the number of people.

My guess: several million people own and use at least one Bitcoin wallet. This is much less than the estimates of hundreds of millions of Bitcoin users I've seen, so my assumption is most of them keep "their" Bitcoin on exchanges.

Charles-Tim

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Even a single HD wallet can have as many as possible addresses, while two or more wallets can belong to a single person. Even how about custodial exchanges, an exchange can have few wallets, but having as many addresses given to their customers. How about people that are using custodial wallets too. All these make it to be unrealistic. Even to know the total number of people that are making use of noncustododial wallets is unrealistic as well, as seen in point one.

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Quote from: miki002 on December 08, 2021, 03:15:59 AM

How many people are using bitcoin wallets?

I think that the most honest answer is: Nobody knows.

- Since one can make a wallet anonymously,
- Since one wallet can have any number of addresses,
- Since one can have wallet without ever putting money on it,
- Since one can have as many wallets as he wants,

I would not count on the accuracy of any numbers (guesses/estimations) people would give.

You can easily find out how many addresses have funds.
One can find out how many addresses ever had coins on them.
But this is not the number of people.

miki002

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How many people are using bitcoin wallets?

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