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Perhaps a self-custody wallet on one's phone is actually more secure than we thought 🤔
I still prefer a seedsigner
Real manual entropy and/or multisig
Seems to be one of the best solutions. But I'm thinking about mass adoption of No-/Pre-Coiners (NPC).
The solution has always been bring your own entropy and don’t trust verify.
This bear market verified that no HWW company can be trusted.
A phone's got too many people with a way in. Apple or Google push updates, every app wants permissions, and governments can lean on all of them. A hardware wallet just needs to come from the source and be checked before you trust it.
They're great but there's gaps. You pull your seed out every time you sign. No secure boot, it'll run whatever's on the SD card. And no anti-exfil, so dodgy firmware could leak your seed through your signatures and you'd never know. Always check your image.
Coldcard came from the source and people lost funds. Bitcoin specialized tech is an attack vector on its own because it reduces the anonymity set. I consider a phone in a multisig setup the better hardware wallet.
Fair on the anonymity set. But Coldcard was a software bug, and a phone runs way more software. We just have to see these problems coming and build around them.
True, but who is we? Users aren’t developers. There will always be an information asymmetry. Best to safeguard on timechain level: multisig and/or true manual entropy.
💯 multisig and true self made entropy is the best line of defence. Your own entropy would have protected against the Coldcard bug, and multisig against the Ledger and Trezor implants. But vendors have a duty too. Tamper evident builds and devices you can verify yourself, so supply chain attacks get caught before they cost anyone.
Better yet just build your own SS image, keep 4 copies. The seed pulling out every time is a feature, not a bug.
Fair on building your own image. But stateless only works if you never leave home. Travel or flee your country and you're carrying your seed in the clear. And your most valuable thing comes out every time you sign, more exposure to cameras and prying eyes. Signing anywhere but your basement is a risk.
It’s up to you how you store your seed, nothing says you have to keep it in the clear.
When it comes to signing devices like we were originally discussing.. SS or a laptop with TailsOS is the bare-bones best choice because you can verify the seed is cold from the physical hardware to the software.
I will never trust or recommend any other company’s device.
Great setup, but if it's not in the clear you still have to decrypt it to sign. So you are carrying it plus the way to unlock it and it still comes out every time. Same exposure, more steps. If the only safe option is DIY, most people won't self custody. They will sit on exchanges and ETFs and Bitcoin ends up with a handful of custodians. Tin foil hat on, I reckon that's what a lot of these attacks are after.
Just use core on a pc
Nah, use Binance as a hot wallet
Seems fine they can cover lost funds with profit!