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Unintuitive truths about HW wallets:
1. A hardware wallet is a 3rd-party custody solution.
2. You feel like you #OwnYourKeys because you can physically hold it.
3. Point 2. is a fallacy from your fiat brain. 💵🧠
1. A hardware wallet is a 3rd-party custody solution.
2. You feel like you #OwnYourKeys because you can physically hold it.
3. Point 2. is a fallacy from your fiat brain. 💵🧠
4. Purchasing a hardware wallet involves trusting:
• The firmware authors
• The code signers
• Everyone in the supply chain
5. There are entire categories of vulnerabilities hardware wallet producers admit they can’t fix, namely physical attacks. ledger-donjon.github.io/Unfixable-Key-…
• The firmware authors
• The code signers
• Everyone in the supply chain
5. There are entire categories of vulnerabilities hardware wallet producers admit they can’t fix, namely physical attacks. ledger-donjon.github.io/Unfixable-Key-…
6. Since some physical attacks can’t be patched, physical security is now a meaningful part of your life.
7. The firmware on hardware wallets can be extracted and audited. But you haven’t done this. And there’s a lot of code: I’ve only looked at chunks. medium.com/@brandonarvana…
7. The firmware on hardware wallets can be extracted and audited. But you haven’t done this. And there’s a lot of code: I’ve only looked at chunks. medium.com/@brandonarvana…
TL;DR:
• Any vendor product for storing keys is 3rd-party custody.
• Most fuzzy feelings around hardware wallets are because you can physically hold them, like dollar bills.
I use hardware wallets. But I acknowledge who I’m trusting in doing so. You should too.
• Any vendor product for storing keys is 3rd-party custody.
• Most fuzzy feelings around hardware wallets are because you can physically hold them, like dollar bills.
I use hardware wallets. But I acknowledge who I’m trusting in doing so. You should too.
