Exactly what dkbit98 had repeatedly warned about happened. What will be the next stage? Is it really the termination of support Nano S. Then millions of user devices will turn out to be a useless toy and people will be forced to buy a new HW device again?
To their credit; the devices don't become useless the moment Ledger drops support. They continue working just fine.
It is true however, that you
probably should start looking around for something new once that happens, because you'll never know if there are new security vulnerabilities that are simply not fixed anymore.
Now I'm going off topic a little a bit and ask a question. Why hasn't crypto community created their own hardware wallet yet? It seems to me that this can be done with due desire, although many difficulties and obstacles will arise.
The idea is the following:
Hardware and software must be separate. The firmware must be open source with the ability to download, as is done with electrun, for example, and the device itself so that it can be bought separately or assembled by yourself. Even better, if the device will have a high level of maintainability and be modular.
As a result, it could look like this:
- bought the device or assembled it youself from the components.
- downloaded the firmware and installed it on the hardware wallet.
- use it.
That's exactly the idea behind SeedSigner. It doesn't have a secure element, so they opted not to allow for seed storage on the device; this means it's less easy to use than an actual hardware wallet that does store the seed.
However, the closest I know that you can get to that idea is:
[1] Buy
Foundation Passport (by the way; price will increase from $200 to $250 next week)
[2] Open it up, verify the integrity of all components, as well as the
screen circuitry etched into the glass and match what you see against the
fully open-source hardware data sheets, PCBs, etc.[3]
Upload your own 'developer pub key' to it[4] Clone the
firmware repo and read all the code, perform static and dynamic security audit
[5]
Build the firmware and upload it to the device
Same Trezor model One still works perfectly fine and they have regular updates, and I don't know a single contribution Ledger made to Bitcoin ecosystem, but yes they are contributing a lot for shitcoinery and NFT scammery.... so they basically accelerated shit, like when you flash water in your toilet.
Actually, Trezor's impact is super big, just considering their
actual open source license (and apparently good code).
It is used by ColdCard (though it switched to CC license which doesn't allow to use
their code, which I'm not sure is even allowed by the Trezor license).
And it is used by Foundation Passport; who don't hide it at all:
Ledger having a bigger market share may have made a bigger impact on attracting end users, and hence mass adoption.
They've used
questionable tactics (shown in music videos with tens of millions of views) for that, of course all paid from customers buying old, low-quality (and still cheap) devices; so the margins must be pretty large and the component costs close to zero.
Couldn't agree more, Trezor is a superior product, and company. Although the ColdCard is starting to win me over, I can't see myself without a Trezor any time soon.
Keep in mind to check out the 'questionable' stuff about CC I wrote above and in the
ColdCard thread. Also looking at its price vs. current (discounted Passport price) of just $40 more, I find ColdCard a hard sell right now.