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Topic: It's time to buy a Hardware Wallet: lots of discounts (Read 351 times)
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Hi. I am the creator of https://thebitcoinhole.com/. If you want us to include your wallet on our website, please DM us on Twitter @thebitcoinhole so we can keep in touch.
Sure. But your DMs are closed on Twitter.
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Hi. I am the creator of https://thebitcoinhole.com/. If you want us to include your wallet on our website, please DM us on Twitter @thebitcoinhole so we can keep in touch.
Sure. But your DMs are closed on Twitter.
Hey,
I am the cofounder of Cypherock Wallet. Can you please also look to list us for both as a hardware wallet and as a seed phrase backup? Thanks.
I am the cofounder of Cypherock Wallet. Can you please also look to list us for both as a hardware wallet and as a seed phrase backup? Thanks.
Hi. I am the creator of https://thebitcoinhole.com/. If you want us to include your wallet on our website, please DM us on Twitter @thebitcoinhole so we can keep in touch.
I actually made a thread here on Invity and most of us agreed that the prices Satoshilabs/their exchanges offer are bad. 
Yes, the exchange rates that both Ledger and Trezor offer at their partner exchanges are worse than if you visited the sites yourself and tried to carry out a trade. It's because of those premiums (their profits) they add on top of the regular price. They hope there will be users who don't care, and will gladly take a worse deal compared to having to go elsewhere and sign up. My guess is there always will be such people. Consider instant exchanges as proof of that. Everyone knows they have worse rates than traditional exchanges. Still, there are many around and all of them take a piece of the cake.
Open source hardware wallet makers do not have a way to monetize their products once they sell a single unit.
They have a few ways to make money. They can sell hardware wallet accessories through their shops. Trezor and Ledger have partnered with several exchanges allowing users to make instant exchanges, sometimes KYC-free. I am not going to discuss the quality of such services or if you should be using them or not. They can add a little premium on top of the spot price to earn from each trade.And as Ledger presented recently, they can think of godawful new features and ask their clients to pay to use them
Fair enough, accessories can help but I personally took a look at the exchange service which was launched by Trezor to buy Bitcoin with the help of third parties and many of the options ask for KYC, even those who do not have a price which I personally (and others around here) did not find to be favorable or competitive enough.
So I still believe that the model of business of Open source wallets heavily depends on selling their hardware at relatively expensive prices (in comparison to the cost of materials), so they can continue to keep their updates and features for free as long as possible.
I actually made a thread here on Invity and most of us agreed that the prices Satoshilabs/their exchanges offer are bad.
Hey,
I am the cofounder of Cypherock Wallet. Can you please also look to list us for both as a hardware wallet and as a seed phrase backup? Thanks.
I am the cofounder of Cypherock Wallet. Can you please also look to list us for both as a hardware wallet and as a seed phrase backup? Thanks.
Open source hardware wallet makers do not have a way to monetize their products once they sell a single unit.
They have a few ways to make money. They can sell hardware wallet accessories through their shops. Trezor and Ledger have partnered with several exchanges allowing users to make instant exchanges, sometimes KYC-free. I am not going to discuss the quality of such services or if you should be using them or not. They can add a little premium on top of the spot price to earn from each trade.And as Ledger presented recently, they can think of godawful new features and ask their clients to pay to use them
These discounts are a slap in the face for Ledger, as other companies are now running to incentivize HW customers to switch brand.
In particular, Coldcard with its code 'noKYCwSE' is a clear signal to what Ledger did.
Or probably this discount translates into: Hardware wallets are trash too?In particular, Coldcard with its code 'noKYCwSE' is a clear signal to what Ledger did.
I hope that hardware wallet prices will come down in general, since a hardware wallet is very cheap to produce. I understand that in the beginning there is a lot of programming and testing needed that will require a large initial investment. But most companies should already be way in the profit zone and in my opinion they should lower the prices and not pump out new hardware wallets with useless new features (ledger). I mean a hardware wallet is a pretty basic device that does not really need to be renewed every few month.
That's called trickle-down economics but in reality that doesn't work that way. Absolutely every business tries to maximize profits and no business tries to minimize maximized profits. So, that's not gonna happen, especially when there is a very bad inflation. 
I hope that hardware wallet prices will come down in general, since a hardware wallet is very cheap to produce. I understand that in the beginning there is a lot of programming and testing needed that will require a large initial investment.
The only proven and effective way to make the price of any product come down is real competition. If there is real competition between hardware wallet manufacturing companies and there are several options between closed source and open source wallets with the possibility of making the user make everything himself or providing ready-made options, all of them will make this Companies settle for reasonable profit in return for increasing the number of sales.
Ledger caused a shock in the market and broke the binary options between it and Trezor, users are now looking for alternatives and it is the right time for these companies to present themselves as an alternative.
2. As the adoption of Bitcoin grows the demand for safe hardware wallets continues to surge as well. This translates to an increase in the price of those wallets, for simple law of supply and demand.
As much as I want to believe that the demand for the hardware wallets will drop down, this is reality. The demand will eventually be more based on the market situation and we know that what's next to the market which is the bull run. And from there, it'll create a surge in the market while many old investors that have just been convinced to purchase hardware wallets, they'll surely do spend from the profits they'll make from the upcoming bull run. While the new holders, they'll just do the same thing of what old holders will do and that's to purchase hardware wallets as suggested. But who knows if this demand will decrease in the future.The demand will continue to grow, I am almost sure about it.
Actually, I recall seeing the price of the Trezor one some years ago being in the rank of 50$ or so, nowadays the price seems to have increased to 65$ and we are not even in the middle of a bullrun.
When future bull runs come and people start to rush for hardware wallets to keep their investments safe, then market prices will surge and they are unlikely to go down to previous levels again. At least, that is what I have noticed with Satoshilabs.
2. As the adoption of Bitcoin grows the demand for safe hardware wallets continues to surge as well. This translates to an increase in the price of those wallets, for simple law of supply and demand.
As much as I want to believe that the demand for the hardware wallets will drop down, this is reality. The demand will eventually be more based on the market situation and we know that what's next to the market which is the bull run. And from there, it'll create a surge in the market while many old investors that have just been convinced to purchase hardware wallets, they'll surely do spend from the profits they'll make from the upcoming bull run. While the new holders, they'll just do the same thing of what old holders will do and that's to purchase hardware wallets as suggested. But who knows if this demand will decrease in the future.The demand will continue to grow, I am almost sure about it.
Actually, I recall seeing the price of the Trezor one some years ago being in the rank of 50$ or so, nowadays the price seems to have increased to 65$ and we are not even in the middle of a bullrun.
When future bull runs come and people start to rush for hardware wallets to keep their investments safe, then market prices will surge and they are unlikely to go down to previous levels again. At least, that is what I have noticed with Satoshilabs.
2. As the adoption of Bitcoin grows the demand for safe hardware wallets continues to surge as well. This translates to an increase in the price of those wallets, for simple law of supply and demand.
As much as I want to believe that the demand for the hardware wallets will drop down, this is reality. The demand will eventually be more based on the market situation and we know that what's next to the market which is the bull run. And from there, it'll create a surge in the market while many old investors that have just been convinced to purchase hardware wallets, they'll surely do spend from the profits they'll make from the upcoming bull run. While the new holders, they'll just do the same thing of what old holders will do and that's to purchase hardware wallets as suggested. But who knows if this demand will decrease in the future. I hope that hardware wallet prices will come down in general, since a hardware wallet is very cheap to produce. I understand that in the beginning there is a lot of programming and testing needed that will require a large initial investment. But most companies should already be way in the profit zone and in my opinion they should lower the prices and not pump out new hardware wallets with useless new features (ledger). I mean a hardware wallet is a pretty basic device that does not really need to be renewed every few month.
The thing is that it is very unlikely for hardware wallets to decrease their prices through times, because two main reasons, in my opinion.
1. Open source hardware wallet makers do not have a way to monetize their products once they sell a single unit. They sell you the hardware once and then they provide free updates and features as long as they can, for free and free for anyone to verify the code.
That means they need to increase the price of their hardware to keep up their operations going.
2. As the adoption of Bitcoin grows the demand for safe hardware wallets continues to surge as well. This translates to an increase in the price of those wallets, for simple law of supply and demand.
I hope that hardware wallet prices will come down in general, since a hardware wallet is very cheap to produce. I understand that in the beginning there is a lot of programming and testing needed that will require a large initial investment. But most companies should already be way in the profit zone and in my opinion they should lower the prices and not pump out new hardware wallets with useless new features (ledger). I mean a hardware wallet is a pretty basic device that does not really need to be renewed every few month.
There are currently two ongoing discounts with the two biggest hardware wallet manufacturers in the world.
Recent events don't make Ledger a good choice for long-term storage, but if someone is still looking for a discounted wallet, they can get one now. By entering the promo code COLOR30 during checkout, you get 30% off if you buy a Nano S Plus or Nano X in a different color than black.
https://shop.ledger.com/pages/save-30-ledger-nano-colors
Trezor also has a 10% discount for its Privacy Guard Bundle. It contains the Trezor Model T, a PanzerGlas screen protection, a glove For Trezor Model T, and a Trezor lanyard. The total price for the package is €228.
https://trezor.io/privacy-guard-bundle?fbclid=IwAR0oT8bhAuR1nikMxLNC0_5npiYI61W9ERuzNvW9MsmzeIRod_WfIegM4yM
I would personally not take advantage of either of the two options, but everyone should make up their own mind.
Recent events don't make Ledger a good choice for long-term storage, but if someone is still looking for a discounted wallet, they can get one now. By entering the promo code COLOR30 during checkout, you get 30% off if you buy a Nano S Plus or Nano X in a different color than black.
https://shop.ledger.com/pages/save-30-ledger-nano-colors
Trezor also has a 10% discount for its Privacy Guard Bundle. It contains the Trezor Model T, a PanzerGlas screen protection, a glove For Trezor Model T, and a Trezor lanyard. The total price for the package is €228.
https://trezor.io/privacy-guard-bundle?fbclid=IwAR0oT8bhAuR1nikMxLNC0_5npiYI61W9ERuzNvW9MsmzeIRod_WfIegM4yM
I would personally not take advantage of either of the two options, but everyone should make up their own mind.
I do not know why a person who has full control of his money is a problem for many
The answer is in the question. I assume it was supposed to be a question. It's a problem because those in power don't have many ways to touch the independent and free. If you are dependent and just a little cogwheel in the system, they can easier monitor and control what you do.See how they promote the new service
It sounds like they aren't sure themselves. "Potential solution" makes it sound like maybe it will be ok, maybe it won't. We know already that it lowers the security of your money drastically no matter how they present it. The goal is clear: explain to the customers (existing and new) how dumb they are, and that they can't keep their recovery phrases safe. After that, suggest you'll do it for them. Quote
Ledger Recover is a potential solution. Securely encrypted secrets stored in the cloud are the future, not pieces of paper or steel plates stored under your mattress or worse in a bank vault
These discounts are a slap in the face for Ledger, as other companies are now running to incentivize HW customers to switch brand.
Without price history tracking, I don't think we can say that these discounts are attractive, even Trezor did not make any additional discounts as you mentioned in another reply.Or, they do the same and introduce their own seed recovery options depending on the success/failure of Ledger's. After all, we now know it's possible thanks to the geniuses over at Ledger.
The market is what drives this industry, and I would not be surprised if Ledger succeeds in increasing sales. The average user wants someone to say to him, “Your money is safe.” I do not know why a person who has full control of his money is a problem for many, and the wallet is still safe compared to hot wallets, so it is the beginning of an era New from the hardware wallets (if we keep using this word on them.)See how they promote the new service
Quote
Ledger Recover is a potential solution. Securely encrypted secrets stored in the cloud are the future, not pieces of paper or steel plates stored under your mattress or worse in a bank vault
EDIT @maxirosson I think this will make topic better
Lots of discounts to enjoy
| | | Hardware wallet
These discounts are a slap in the face for Ledger, as other companies are now running to incentivize HW customers to switch brand.
In particular, Coldcard with its code 'noKYCwSE' is a clear signal to what Ledger did. Most hardware wallets are now vulnerable. Maybe we should thank Ledger for teaching us that valuable lesson. The hardware wallet industry can now move in two directions: The other companies learn from Ledger's mistake and stupidity and never ever think about doing something similar. Or, they do the same and introduce their own seed recovery options depending on the success/failure of Ledger's. After all, we now know it's possible thanks to the geniuses over at Ledger. please add price history tracking, where you can follow the price of the HW, discounts that appear, and compare its price before and after the discount, to make sure whether this discount is real, or is it promotional advertising, or that there is no discount, but rather an increase in the price and to say that there is a discount. Good idea. I added it to the project backlog Thanks Jump to:
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