Comment by Gareth321
17 days ago
Here I am using an iPhone app like I have been for a decade, feeling safer than ever. I'm really glad I didn't jump on the hardware wallet trend.
17 days ago
Here I am using an iPhone app like I have been for a decade, feeling safer than ever. I'm really glad I didn't jump on the hardware wallet trend.
It always depends how much money you got in the wallet. People in the crypto space go super paranoid, 2-of-3 signing schemes with top-notch security, hardware legers, metal-plated keys that are burried in the woods etc, and in the end they hold less than 1000$ in the wallet... All safety measures should be chosen relative to the amount you are actually securing.
How about a bank vault? 500 year old tech that is still safe.
In many places, there are no safety deposit boxes (vaults) available to regular people anymore. In my country, there are zero options and the only recommendation is to put your valuables in a safe in your home (which has a completely different security model than a bank vault).
How do you put bitcoin in a bank vault?
7 replies →
Even iPhone apps:
https://www.reddit.com/r/Bitcoin/comments/1x46gnh/a_fake_cry...
That app did not have nearly the effort put in, compared to the subject of this article.
That poster didn’t even prove the fake wallet app stole his bitcoin (in the sense required in a court of law). Presumably it wasn’t worth the effort because their money was gone and not coming back, but still.
Not sure if your comment invalidates the context: your iPhone app (or hardware or iOS, etc) could have a bug that was not discovered yet. It's all about attack vectors, and opponent motivation and resources.
Can't believe people who went to the trouble of figuring out a hardware wallet are getting robbed just as badly as my naïve ass, who just held all my crypto at FTX
As I understand, they recovered quite a lot in the FTX bankruptcy. The guy running it now ( John J. Ray III ) is a bankruptcy legend. What was your recovery rate(%)?
And at least you know who stole from you (SBF)