John Mcafee & Bitfi launch the first 'unhackable' hardware wallet - page 4.

gentlemand

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Quote from: o_e_l_e_o on July 20, 2018, 12:47:02 PM

I'm not going to post that XKCD comic yet again, because at this point it goes without saying. If you are still naive enough to want to use a brainwallet, you can easily make one for free without buying in to this scam.

Why roll out the wrench thing when 999,999 times out of a million it'll be some brat who cracks your shitty entropy from thousands of miles away who you'll never know a single thing about?

That's the prime problem with this. Since lots of people claim to have bought it I'd like to hear from an owner about whether there's some provision or advice for this from the manufacturer. The whole thing seems... weird. I can't believe it hasn't been brought up by someone in the design and build process.

o_e_l_e_o

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Quote from: gentlemand on July 20, 2018, 11:56:47 AM

Until someone discovers a means of hacking the brain, your money is safe.

I'm not going to post that XKCD comic yet again, because at this point it goes without saying. If you are still naive enough to want to use a brainwallet, you can easily make one for free without buying in to this scam.

gentlemand

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https://twitter.com/officialmcafee/status/1020350194506924034

"We created a simple, foolproof way to use the brain as the wallet. The http://Bitfi.com wallet is the transcriber between the inner brain and the outer world of digital currencies. Until someone discovers a means of hacking the brain, your money is safe."

And there it is finally in plain English straight from the source. I cannae believe no one who associates with him hasn't taken him aside and whispered something but it would probably turn into a firefight.

bob123

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Everywhere i keep reading the wallet is using an open source bitfi algorithm to calculate the private keys.
Did actually anyone find the source code yet? Their github (https://github.com/Bitfi) is empty. Roll Eyes

I am quite interested in whether only the concept of the wallet is pure shit, or whether the algorithm also is just a pseudo-algorithm, just to call it an algorithm.

Quote from: tumis on July 07, 2018, 02:18:12 PM

And someone will tell me where the concept of safe wallet begins and where it ends?
How can we be sure that the creator of the solution has not left any "emergency gate"?

Please, keep away from this wallet.

You shouldn't care about a backdoor, but about the mechanism itself. It is insecure by design.
Your brain will be able to create an entropy of like 10-20 bits. Thats far away from 256 created by an proper algorithm.

o_e_l_e_o

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"It has to be your own phrase. Just choose a phrase you can't forget."

So... just like a password then?

Seriously, what a shit show. He is one step away from advising people to save their password as plain text in their email or Dropbox so they don't forget it.

gentlemand

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https://twitter.com/officialmcafee/status/1018898446659477504

Confirmation here that this basically a brain wallet.

https://twitter.com/icryptomarty/status/1018900159244259329

And no mention or advice on how to come up with a secure phrase. Maybe there's something in the box. Probably not.

gentlemand

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Quote from: tumis on July 07, 2018, 02:18:12 PM

And someone will tell me where the concept of safe wallet begins and where it ends?
How can we be sure that the creator of the solution has not left any "emergency gate"?

The theme of this thread is that there is no 100% safe wallet. I'd say the safest possible option is a correctly created paper wallet, but they're also not practical if you want to spend from them.

As for back doors, look for something open source and hope that enough people have checked the code if you yourself don't have enough knowledge.

The opinion of someone who knows a thing or two - https://twitter.com/matt_odell/status/1015954872691290113

tumis

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And someone will tell me where the concept of safe wallet begins and where it ends?
How can we be sure that the creator of the solution has not left any "emergency gate"?

suzanne5223

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Quote from: RGBKey on July 06, 2018, 07:02:51 PM

Quote from: suzanne5223 on July 06, 2018, 04:13:53 PM

... However, I believe the wallet producer and John McAfee have their name to protect.

John McAfee has no name to protect anymore. He's dragged his own name through the mud so many times now that it's worth nothing. He offers paid promotion on his twitter account, among other things. He's no longer a name people trust.

You're right about that cause he has messing several time due to his false prediction and price manipulation. But, I was talking about security.

dTAPPO

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Sound's Good but in my opinion to launch the 'unhackable' is tense to impossible.

Yes, I also say that in this super first growing technology world, anything can happen...

If it happen everybody will be benefited.

RGBKey

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Quote from: suzanne5223 on July 06, 2018, 04:13:53 PM

... However, I believe the wallet producer and John McAfee have their name to protect.

John McAfee has no name to protect anymore. He's dragged his own name through the mud so many times now that it's worth nothing. He offers paid promotion on his twitter account, among other things. He's no longer a name people trust.

suzanne5223

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Let's just keep our fingers cross cause there are a lot smart people on this forum which will find out if the wallet is real unbackable. However, I believe the wallet producer and John McAfee have their name to protect.

posi

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I like the part of the wallet enabling users to view all their coins balances at once and quickly switch from one currency to another, whether for personal or business use. But, can a wallet which users can access their wallet using a secret phrase that calculates private keys be unbackable? Could this be oneif McAfee game?

dunfida

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Quote from: notaek on July 04, 2018, 04:35:23 PM

Quote from: gentlemand on June 22, 2018, 07:02:04 PM

https://globenewswire.com/news-release/2018/06/19/1526755/0/en/Bitfi-and-McAfee-Announce-First-Truly-Unhackable-and-Open-Source-Crypto-Wallet.html

I particularly enjoy this feature - 'The private key only exists for a fraction of a second, just long enough to approve the transaction and is never stored anywhere' - because a full second is no good.

Have they taken a seemingly impossible leap in security or will this be a bit of a nothing? Truly unhackable is a bold and impossible claim I would've thought.

McAfee is a complete sellout. Just take a look at his Twitter profile and you'll know.
He uses his public image as an asset to help promote ICOs. (https://mcafeecryptoteam.com/effect.html)

I would take this guy's claim with a grain of salt. Overall, its just a marketing tactics to keep themselves ahead of the competition. (Trezor, Keepkey, Ledger - all of them I use and recommend BTW)

Quote from: TryNinja on June 22, 2018, 07:28:00 PM

Does this mean that we need to type the password/seed/whatever everytime we want to sign a transaction?

Oh boy! If that's the case, then a simple keylogger will be able to read all the phrases everytime a user types them in. Roll Eyes

Who would be the one to take his recommendations seriously? Yet we do already know on the bullshit things that he had done into this cryptomarket and now he do propose another hardware wallet.Its better to set aside and dont pay attention on this and i bet no one would be interested, unless if you are a die hard fan of him. Grin

audaciousbeing

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Quote from: gentlemand on June 22, 2018, 07:02:04 PM

https://globenewswire.com/news-release/2018/06/19/1526755/0/en/Bitfi-and-McAfee-Announce-First-Truly-Unhackable-and-Open-Source-Crypto-Wallet.html

I particularly enjoy this feature - 'The private key only exists for a fraction of a second, just long enough to approve the transaction and is never stored anywhere' - because a full second is no good.

Have they taken a seemingly impossible leap in security or will this be a bit of a nothing? Truly unhackable is a bold and impossible claim I would've thought.

Having a leap in form of security measures is good but claiming its ''unhackable'' is really an overstretched even bitcoin in which gave the impression that its fool proof, there have been discussions about the effect of the existence of Quantum computer could do to the blockchain. The best is to say its going to be difficult. Aside that saying a software is unhackable is an indictment to all of the existing wallets providing a far reaching satisfaction for people to keep their bitcoin and other crypto currency safe over the years.

I think addition of McAfee to the name is making it seems more popular but that name does not carry any weight from where I stand and I am sure its the same for other people too. Forgetting the human factor in any development is being overly confident which I see happening here. And the feature of private key existing for seconds is what I am not seeing as a special feature because normally when you want to send a transaction on say Electrum, you don't have any business with your private key, enter the necessary details then send without any issue. With this feature now, it means to copy your private key for claiming fork purposes its now a problem.

notaek

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Quote from: gentlemand on June 22, 2018, 07:02:04 PM

https://globenewswire.com/news-release/2018/06/19/1526755/0/en/Bitfi-and-McAfee-Announce-First-Truly-Unhackable-and-Open-Source-Crypto-Wallet.html

I particularly enjoy this feature - 'The private key only exists for a fraction of a second, just long enough to approve the transaction and is never stored anywhere' - because a full second is no good.

Have they taken a seemingly impossible leap in security or will this be a bit of a nothing? Truly unhackable is a bold and impossible claim I would've thought.

McAfee is a complete sellout. Just take a look at his Twitter profile and you'll know.
He uses his public image as an asset to help promote ICOs. (https://mcafeecryptoteam.com/effect.html)

I would take this guy's claim with a grain of salt. Overall, its just a marketing tactics to keep themselves ahead of the competition. (Trezor, Keepkey, Ledger - all of them I use and recommend BTW)

Quote from: TryNinja on June 22, 2018, 07:28:00 PM

Does this mean that we need to type the password/seed/whatever everytime we want to sign a transaction?

Oh boy! If that's the case, then a simple keylogger will be able to read all the phrases everytime a user types them in. Roll Eyes

Oilacris

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Quote from: o_e_l_e_o on June 23, 2018, 03:44:46 AM

Take any claims by McAfee with a ~~pinch~~ ~~spoonful~~ ~~cupful~~ bucketful of salt. He is a proven liar, scammer, con-artist and criminal, who charges $105,000 to pump-and-dump shitcoins.

This phrase in particular stood out to me: "The user-created phrase is impossible for others to guess but easy for the wallet holder to memorize." This doesn't mean your wallet isn't hackable.
Relevant XKCD:

Based on that image i do completely agree on that thing where anyone can able to slam us a cheap wrench and asking forcefully about on your keys. We might not think of on that way but last resort would be like that one specially when someone do have info about on your crypto holdings.
Here we go again with unhackable thing proposed or introduced by Mcafee. This thing doesnt exist yet anything can really be hacked when keys are created.If its brainwallet then the risk would always be tied up.

gentlemand

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Quote from: HCP on June 28, 2018, 05:19:06 PM

They never actually mentioned anywhere how many units were in the first batch (at least, not in any of the stories I could find)... it could have been 10 units (or 10,000) Tongue

I'm guessing the total was closer to the first number than the second

He's a huckster so you're probably right but he does have an awful lot of rabid fans at the moment.

I do find it strange though that someone who's pinned everything on being Security and Privacy Man makes this unhackable claim. I can't imagine any truly clued up programmer would ever assume their creation was stone cold guaranteed to be impregnable.

HCP

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Quote from: OmegaStarScream on June 28, 2018, 12:19:47 PM

Code:

The entire first batch sold in just 22 minutes.

120$ and it went that fast? even the Trezor T model didn't go that fast. It seems like John McAfee can tweet about literally anything, and It will get sold.

They never actually mentioned anywhere how many units were in the first batch (at least, not in any of the stories I could find)... it could have been 10 units (or 10,000) Tongue

I'm guessing the total was closer to the first number than the second

OmegaStarScream

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Code:

The entire first batch sold in just 22 minutes.

120$ and it went that fast? even the Trezor T model didn't go that fast. It seems like John McAfee can tweet about literally anything, and It will get sold.

Topic: John Mcafee & Bitfi launch the first 'unhackable' hardware wallet - page 4. (Read 1444 times)