Bitcoin Forum

https://www.reddit.com/r/Bitcoin/comments/6gkh2x/how_to_distinguish_between_speculative_bubble_and/diqz9b7/

this is a very interesting statistic and that's only for one hardware wallet manufacturer.

it ain't toytown no more.

1 million hardware wallets, really? Surely they won't sell that many in only a year? If it does transpire then wow, they stand to make a shit load of money.

are you in a faraway country? i got mine direct from france to elsewhere in europe in about three days.

third party sellers seem to be cashing in on the demand. ledgers and trezors seem to be way more expensive from other sources at the moment.

I really doubt on their ability to sell 1 million hardware wallet within 1 year, I think it will be really hard to sell even 1 million hardware in total from all hardware wallet manufacturer within short time of 1 year.  ;D

That's got to be a highly exaggerated projection, unless that's a cumulative amount or it's agreements with merchants to stock them this year for the following years. How much bitcoin would you need to feel the urge to go out and buy a ledger? 1 or more? So there are a million people with 1 or more BTC? Nope!

the main hardware wallets now do an ever expanding bunch of alts too. and even if you have 0.5 btc it's still a good idea and getting better by the day.

Aren't they talking about 1 million in total of sales this year and not 1 million JUST this year alone?
We can't really know how much they already sold so if they believe that much, I think it's possible.

The market of cryptocurrencies it's starting to become bigger, so more people are starting to buy hardware wallets, including me.
Not a far dream anymore!

My question is how do you secure the wallet do you put it in a safe? What if everyone has hardware wallets then criminals will target that

you can if you want to.

what it's all about is keeping you safe from online attacks. there's no way anyone can access your private keys via a hack.

in real life there's a pin number on it so even if someone finds the device they can't access it. it also gives you a seed to restore it on another machine and that's what you have to keep the safest.

It can still be an example of a bubble.

Price more than doubles in the past couple of months - people are holding shitloads of money now when they weren't before.

The non-technical types who've been holding their money in exchanges start realising that they're unsafe as they hear complaints about basically all of them, from Coinbase to Poloniex. 

So then they start reading into hardware wallets, which are marketed to beginners and make it quite easy for them - suddenly, it's very clear what they need to do, and they go get a hardware wallet.


It does mean that they're probably not day trading, but it doesn't even have to mean that they're planning to hold particularly long term, since hardware wallets are much more convenient for regular transactions than, say, paper wallets.

Very surprising!

One of very reasons I love BTC is precisely that it's virtual and doesn't require anything but a computer. Can't understand why some people want a hardware wallet which can break, or be stolen.

I think you need to read up a bit more on hardware wallets.

They give you a seed which lets you recover your funds from many major wallets (in TREZOR's case Electrum for example, as well as many others), or you can recover from another TREZOR.  When you recover from another TREZOR you don't even expose your seed to the computer, because your TREZOR randomises which words you have to put in, making it very difficult to find the order of the 24 words.

This makes hardware failure, loss or even stealing basically irrelevant, unless they take your seed.  Most modern robbers would only take it because they see a piece of technology, so they wouldn't search for your seed when it's hidden in a bank safety deposit box for example.

You also have passphrase encryption, and you can use multiple passphrases and hidden wallets to protect against 5-dollar wrench attacks.

It's not the most secure thing in the world but for someone who's not very tech-savvy it's extremely good.

Yes, I shall agree that the risk of theft is quite remote, loss would be more likely to occur. But I still don't see the point of a hardware wallet. I can recover my wallet from any computer in the world without anything physical. This is what I like. That's the easiest.

I think that number of 1 million ledger to be sell this year is rather exaggerated number and this news is actually only one type of good promotion for this
company,just imagine people who read that so many ledger wallets will be sold-they think why should I not get one for me :)

It is good to have options to store coins in hardware wallets in addition to other available ways to keep our coins safe.With time there will be increasing demand for hardware wallets,so I'm sure that at some point this figure will be reached.

I would rather to put up my bitcoin and other alts on hardware than storing on online wallets and i do agree it may not give you the fullest protection on physical world but on online world it would really be the best way on securing up your assets stored on that hardware wallet.Its really hard to find that wallet of yours if theres someone tend to steal it from you.
Back to topic 1m hardware wallets on 1 year period would be tough.

I think they just put an extra 0 in that number.
Probably more a publicity stunt that real numbers.

The growth is there but suddenly feeling like selling 1 million in a year seems a bit too much to be credible.
If they were the only solution for storing coins , yeah I would believe that but with so many people choosing different options 1 million seems like daydreaming.

Maybe next year :).

obviously as an advertisement they have increased their stats but i doubt they have increased it 10 times. mostly because the volume has been huge in the past couple of months (1,414,149BTC in 30 days according to bitcoinwisdom). and all that volume is from traders and most of them want to move bitcoin to a secure cold storage and not all are tech savvy or bother to make one themselves. so they buy a hardware wallet.

Wow, well, this was unexpected. A million Ledgers is a really high number. I'm also curious regarding Trezor (which seems to have the biggest pie of the hardware wallet market). Indeed this shows quite a growth (and how useful these little machines are).

I wonder would the majority be destined for Japan and China?
following the recent news about the new OKI bitcoin ATM's
that are/were destined predominantly for China.....

https://bitcointalk.org/index.php?topic=1931837.20

If the 1,000,000 units is a legitmate number then it would make sense?

Tracking sales of hardware wallets its an excellent statistic to guesstimate how many people are taking the effort to store bitcoin in cold storage. If it's 1,000,000, then that's 1,000,000 people that has enough money in bitcoin that they see as a reasonable investment to buy a HW wallet. Thats a LOT of holders.

I think money can come later, but this actually shows as to how much bitcoin more bitcoin adoption has taken place. If they really manage to sell 1 Million products that will kind of mean there are around 1 million new bitcoin users, as most of the new users will tend to go and buy hardware wallet.

The point is to be on a device that makes it super simple by only holding necessary software and information about a transaction.

If you use an ordinary computer you're susceptible to viruses, on a hardware wallet you're not (except phishing, because you access it through your computer).

It's also basically 2FA, because you have to confirm every transaction or signature using your TREZOR, and to see your wallets you need to enter a pin number.  Hackers of your computer can't even see what your PIN number is if your computer has a virus, because the TREZOR jumbles up which numbers are which and displays them on the screen, while the buttons on your computer have no numbers on them.

The real story here is that Bitcoin is being adopted at a phenomenal rate and that the current price spike might not be a bubble at all.
I wonder what kind of advertising they do to reach those people that are completely new to Bitcoin.

Was I the only person who actually read the comment? It said, " we'll go over 1 million units manufactured this year " - They did not say

that it was their sales. You can have warehouses full of stock based on your historic sales figures, but it is not to say that it would

continue for the rest of the year.  :o I have seen MANY companies going belly up, with tons of stock in warehouses.  ::)