Topic: Trezor: can someone explain how recovery works (Read 3040 times)
I don't know that Bitcoin originally could recovery.
No one DESERVES to have their coins stolen. 
cb
Trezor owners who fall for such a scam deserve to lose their coins.
cb
"we are sorry but it seems your device has failed and needs to be reset. please type in your 26 random words"
Trezor owners who fall for such a scam deserve to lose their coins.
I'm dense but I'm def not stupid enough to fall for that one. Thanks for the heads up tho
Ok thank you I understand now. I figured it had something to do with the block chain but was not certain. Thanks for the clarification
I am pretty new to cryptography and more of an economics minded bitcoiner. it seems like this is a non issue as far as security goes (because smarter people than me have not raised the issue) but I am still having a hard time wrapping my mind around how you can buy a new Trezor and recover your old wallets with the root code. I'm just not sure I understand that mechanism that remembers your old wallets without it being stored somewhere else
Everything is in the blockchain and the key is with U. To unlock something in the blockchain and use that, u need to employ your key. As long as U hold the key of your old wallet (and no one else knows about it), U control the sum. Its upto u whether U'll put it on Trezor, a paper wallet, Bitcoin-QT or a web wallet.
I am pretty new to cryptography and more of an economics minded bitcoiner. it seems like this is a non issue as far as security goes (because smarter people than me have not raised the issue) but I am still having a hard time wrapping my mind around how you can buy a new Trezor and recover your old wallets with the root code. I'm just not sure I understand that mechanism that remembers your old wallets without it being stored somewhere else
point of failure is the requirement to interact with the website mytrezor.com
imagine a phishing site that says
"we are sorry but it seems your device has failed and needs to be reset. please type in your 26 random words"
imagine a phishing site that says
"we are sorry but it seems your device has failed and needs to be reset. please type in your 26 random words"
I do not understand the concept of: if you can recover your Trezor with your root code [26 random words] then doesn't that mean your data is stored on some kind of centralized server or database (which could potentially get hacked).
With that said I love the Trezor product so far and was just wondering about a potential point of failure. I apologize if someone else has already asked/answered this question. Thanks
With that said I love the Trezor product so far and was just wondering about a potential point of failure. I apologize if someone else has already asked/answered this question. Thanks
26 random words are the pass-a-phrase from where your private key is generated, which in turn generates the public key and then address. No centralized server is used in Trezor, though I dont get the requirement of any hardware wallet where paper wallet is there.
I do not understand the concept of: if you can recover your Trezor with your root code [26 random words] then doesn't that mean your data is stored on some kind of centralized server or database (which could potentially get hacked).
With that said I love the Trezor product so far and was just wondering about a potential point of failure. I apologize if someone else has already asked/answered this question. Thanks
With that said I love the Trezor product so far and was just wondering about a potential point of failure. I apologize if someone else has already asked/answered this question. Thanks
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