Ledger Debit Card coming in 2021?! | Bitcointalksearch.org

Pmalek

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Farewell, Leo. You will be missed!

Quote from: stomachgrowls on February 25, 2021, 01:00:28 PM

2021 is going to be a big year for all of us, same time next year we will be presenting you with a secret project that we are currently developing.

Lets wait and see on what are the thing they are preparing for this year.

They have made hints that they are working on introducing an additional security measure on top of the recovery phrase. A new layer of security if you want. These data leaks and the scam/phishing mails that followed resulted in many Ledger users losing their crypto because they entered their recovery phrases in fake apps. They are working on something that would keep user funds safe, even if someone gets his hands on the seed phrase. Passphrases already exist, so it's not that. Probably some sort of shared custody code that Ledger might or might not have access to.

stomachgrowls

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Quote from: Pmalek on February 04, 2021, 07:02:34 AM

Considering the recent data leaks, do you think this will become a popular product once it's finally released?
Could this be the first positive thing from Ledger in a series of negatives?

I presume that it wont but having this option would be a considerable add up but they shouldnt anticipate that everybody would really be having a positive view/sentiment towards it.

So they've decided into that Debit card option.I do remember wayback on using up Cryptopay service.Yeah, theyre different but the the concept is just the same when it comes to that
debit card thing. About those fees then expect it would really be on that higher side.So i dont see for it to be appealing.

As mentioned:
2021 is going to be a big year for all of us, same time next year we will be presenting you with a secret project that we are currently developing.

Lets wait and see on what are the thing they are preparing for this year.

Pmalek

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Farewell, Leo. You will be missed!

Bump

dkbit98

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Quote from: Pmalek on February 06, 2021, 05:58:35 AM

Why do I have a feeling like that someone is you. Grin

No it was not me who created this new Leaker logo.
It was some guy from France who got all his data leaked so he posted it on reddit, and proved that you can be french and not Le shiller

https://www.reddit.com/r/ledgerwalletleak/comments/ld7ov8/new_logo_for_the_firm/

HCP

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Yeah... but people won't "learn"... I mean, after Mt Gox everyone was like "I'll never store my coins on a centralised exchange again"... and then when all the exchanges started being "regulated" and enforcing KYC/AML and sanctions against restricted countries and starting locking accounts... everyone was like "I'll never store my coins on a centralised exchange again"... and look where we are now! Undecided

Pmalek

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Farewell, Leo. You will be missed!

Quote from: dkbit98 on February 05, 2021, 12:00:24 PM

Someone made a nice brand new logo for them when they decide to start with their new Titanic debit card campaign...

Why do I have a feeling like that someone is you. Grin

Nonetheless, it will take a long time for this scandal to be forgotten. I am sure they will keep attracting new customers, but they will surely lose many old clients as well.

dkbit98

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Quote from: Pmalek on February 05, 2021, 08:51:27 AM

I am one of many who won't be using their card when it's ready. The leek included parts of my personal info and I don't feel like giving them the dots that are missing.

Someone made a nice brand new logo for them when they decide to start with their new Titanic debit card campaign, and I think new name suits them better don't you think Cheesy

Pmalek

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Farewell, Leo. You will be missed!

Quote from: LTU_btc on February 04, 2021, 08:01:31 PM

I bought Ledger to store my crypto and I don't really want to g through KYC verification there.

Everyone kind of did. Especially those who gave them their full names, home addresses, legit emails that can be connected to other sites and services when they purchased their wallets.

Quote from: hugeblack on February 05, 2021, 07:22:56 AM

Why does Ledger continue to invest in things that will make them profit faster instead of developing services or even enhancing protection/privacy?

Your questions is also the answer. Because that will make them profit faster. Like the majority of companies, that's their first and second priority whether we like it or not.

Quote from: NeuroticFish on February 05, 2021, 07:37:32 AM

You're right. But I didn't like what they did afterwards, from trying to minimize what has happened, to various confusing e-mails to the customers, for example.

It could be intentional or they simply didn't know the extent of the breach. If they were incompetent enough to not encrypt their customer's data, why would they also not be able to investigate the extent of the leak? And don't forget that they are trying to save face. It could have worked if someone didn't leek the database in public.

I am one of many who won't be using their card when it's ready. The leek included parts of my personal info and I don't feel like giving them the dots that are missing. I don't remember reading in any of their statements what steps they will take to improve the security of their databases. Only that they will store personal data for shorter periods of time and introduce some new feature on top of the seed. What about their department that worked on the databases? Will someone get fired, be held responsible, forced to undergo training to do their job properly?
...

sunsilk

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What could be the benefit of it from other debit card providers if someone will use their card? Well, they have many users but what will be the specific incentive.

I guess they should focus first on making the fee share for their integrated exchange through Ledger Live App lower or any other existing feature that they have before this innovation.

Quote from: hugeblack on February 05, 2021, 07:22:56 AM

Why does Ledger continue to invest in things that will make them profit faster instead of developing services or even enhancing protection/privacy?
I don't think many will spend bitcoins this year, so maybe they should focus on making Ledger debit card (stable coins.)

We have the same thought about it. Before they get into another additional feature that they offer, they should make the existing ones better.

NeuroticFish

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Quote from: AB de Royse777 on February 04, 2021, 09:42:44 AM

The truth is that any centralized service can get hacked. My lesson from hack is to use a disposable email and a temporary address. But still I will hesitate to buy anything from Ledger any more. I guess I am done with Ledger since the hack gone out of control.

You're right. But I didn't like what they did afterwards, from trying to minimize what has happened, to various confusing e-mails to the customers, for example.
Your "the hack gone out of control" wording tells it perfectly. Many others got hacked and can get hacked, but I didn't really witness such a bad handling until now.

Quote from: HCP on February 05, 2021, 06:12:14 AM

Quote from: NeuroticFish on February 04, 2021, 07:36:48 AM

And since the competition starts coming out with cards one can use for kinda free, I see no reason to bother with whatever is Ledger going to offer.

Curiosity gets the better of me here... do you have some examples of "kinda free" bitcoin debit cards? I actually had an acquaintance ask me about this the other day... and it's not something I've ever really looked into, as I figured the fees would like be horrendous. Tongue

I didn't want to advertise, but .. here you are:
The best example for "today" is Binance. I got their card for free and the 1% default cashback covers the current 0.9% fee. The Fx rate is the Visa rate (or close). And one can use the exchange to convert to EUR/BUSD at market rate if he doesn't like, doesn't want, doesn't trust or feels like automated conversion from BTC doesn't work properly (for me it failed once and it worked 3 times, but I don't use the card that often).
The so expensive Wirex is in the process of replacing the old Contis cards with their own and they are also advertising that the fees will be waived. Of course, I want to get to see that, but I think that most of the fees will be waived because they have competition now.

Quote from: hugeblack on February 05, 2021, 07:22:56 AM

I don't think many will spend bitcoins this year

People do spend. Always keep in mind that all the coins bought by some are spent by others. And the numbers show it's not only the miners.

Lucius

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Quote from: LTU_btc on February 04, 2021, 08:01:31 PM

I think there is more than enough people who are completely unaware about these things. I think that even many of current Ledger users have no idea about that database leak. I have no doubts that they will find quite many people who will order it.

There is no doubt about it, because one large percentage of customers have bought such a device to keep their coins safe for a long term. Yet everyone whose data has become publicly available has received a bunch of phishing/spam emails, as well as text messages and phone calls - so I believe most have realized that something is going on after all. Given how few people today value their privacy, things like this don't last long - but I still think that Ledger is certainly losing a good part of its old clients after all.

Who knows, maybe in the future buying HW will require a full KYC - the same as you open a bank account.

hugeblack

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Why does Ledger continue to invest in things that will make them profit faster instead of developing services or even enhancing protection/privacy?
I don't think many will spend bitcoins this year, so maybe they should focus on making Ledger debit card (stable coins.)

HCP

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Quote from: NeuroticFish on February 04, 2021, 07:36:48 AM

And since the competition starts coming out with cards one can use for kinda free, I see no reason to bother with whatever is Ledger going to offer.

Curiosity gets the better of me here... do you have some examples of "kinda free" bitcoin debit cards? I actually had an acquaintance ask me about this the other day... and it's not something I've ever really looked into, as I figured the fees would like be horrendous. Tongue

LTU_btc

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I agree with majority here, I'm sceptical about their card. After all these things which happened already, I can't trust Ledger with my personal data. I imagine that they will require full KYC for this card, so you can imagine what couod happen if Ledger will be hacked again.
But even in perfect conditions, I doubt that I would order their card. I bought Ledger to store my crypto and I don't really want to g through KYC verification there.

Quote from: Lucius on February 04, 2021, 07:54:11 AM

Ledger can only hope for some completely new users who will be completely unaware of what happened, and I hope that the old users will not repeat their mistake a second time.

I think there is more than enough people who are completely unaware about these things. I think that even many of current Ledger users have no idea about that database leak. I have no doubts that they will find quite many people who will order it.

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Quote from: Pmalek on February 04, 2021, 07:02:34 AM

I expect this to be a somewhat overpriced option as well. But who knows, maybe they will surprise us positively this time. Roll Eyes

Probably. And I have no doubt whatsoever that such a feature wouldn't be available in my state. Well, I have a little bit of doubt, but it seems like I live in one of the most regulated states in the country when it comes to buying bitcoin, and I'm sure a BTC debit card would not be popular with our lawmakers. But we'll see.

Quote from: DaveF on February 04, 2021, 11:21:30 AM

There are other options at the moment, depending on where you live.

Yeah, you mentioned you had a bitcoin debit card if I remember correctly. I wouldn't use one even if I could, but I'm guessing that my state is even harsher than yours is when it comes to this sort of thing.

DaveF

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It's not just the hack, it's the hack and then deny deny deny, oh look we got caught, it's not that bad.
The vulnerabilities that have cropped up over the years that either did not get fixed or took forever to get fixed.
And now they want to get all your KYC info.

There are other options at the moment, depending on where you live.

-Dave

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Quote from: NeuroticFish on February 04, 2021, 07:36:48 AM

I agree. They have proven that they have no idea how to properly handle users' sensitive information.

The truth is that any centralized service can get hacked. My lesson from hack is to use a disposable email and a temporary address. But still I will hesitate to buy anything from Ledger any more. I guess I am done with Ledger since the hack gone out of control.

Lucius

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I will also say one big NO to anything that comes from Ledger, especially if it is something that will no doubt require a very strict KYC. I don't think anyone in their right mind would entrust their documents to a company that has shown that it keeps such data completely unprotected.

Imagine a new database hack that would merge new data with what has already been hacked. With everything already known to the public, hackers would get our documents and coin addresses, which would make it even easier for them to choose their targets.

Ledger can only hope for some completely new users who will be completely unaware of what happened, and I hope that the old users will not repeat their mistake a second time.

NeuroticFish

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Quote from: dkbit98 on February 04, 2021, 07:29:49 AM

I don't see anything positive about this

I agree. They have proven that they have no idea how to properly handle users' sensitive information.
And since the competition starts coming out with cards one can use for kinda free, I see no reason to bother with whatever is Ledger going to offer.

dkbit98

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I don't see anything positive about this, I am 100% sure that you would need to pass some new identity verification and that means ledger would receive more customer data.
Isn't one million email addresses and over 750,000 other leaked customer information enough for them?
I am not going to trust ledger for keeping my information safe because they proved several times they can't keep it safe.

Topic: Ledger Debit Card coming in 2021?! (Read 194 times)