Conclusion

Side channel attacks are not as difficult as many people think. A simple power analysis requires only a simple oscilloscope and that can hardly be called expensive laboratory equipment. You also need basic soldering skills and deep knowledge about the code that is running. It took only a single recording of the computation of the public key, to recover the private key. On the bright side, this simple side channel attack can be mitigated by using constant-time code and as I showed this code does not have to be slow.

The new firmware 1.3.3 is immune against this attack since it (1) requires a PIN to compute the public key and (2) uses branch-free computations for deriving the public key from the private key.

There is no complete protection against all kind of attacks. If your TREZOR gets stolen and it has no passphrase protection (or if the passphrase is weak), you should transfer the coins to a different wallet. There are other attack vectors like fault injection that could still be used and may get around the PIN protection. Basically, they use the fact that the microprocessor does unexpected things if power supply or the clock signal is broken. These are much more difficult to perform, but they are probably less expensive than using an electron microscope to read the seed from the chip. Also, there may be a bug in the microprocessor that allows for circumventing the read-out protection.

Timing-wise there are potential issues with that

1.123 BTC -> XMR -> 1.122 BTC over a short period of time might be fairly obvious. Of course it depends not the amounts and the level of activity on BTC at the time. If BTC has 1000 tx/sec that would be a lot more obscure than currently

Shapeshift announcement:

https://twitter.com/ShapeShift_io/status/585570515139563521

Pull request to merge database into master:

https://github.com/monero-project/bitmonero/pull/256

I don't see why GBTC isn't being priced in already. There is a very good possibility that institutional money that CANNOT buy on the open market will flood into GBTC. The price of GBTC may very well be 10-20% higher than the exchanges for a while but as early adopters of BIT arbitrage, exchange prices have to follow.

I suppose it could be done with the current Trezor hardware, an alphabetical list of all the words, move up and down with the buttons, and extra button press to select a word. Easier with a few more buttons though. The question is, is the extra security worth the added complexity?

i think everyone is underestimating the desire to test the restore function just to be sure one doesn't load a bunch of BTC to the Trezor, lose the thing, and then find out you mis-copied a word.

I did misinterpret what you meant by "initialize seeds". But "restoring seeds" definitely satisfies the concerns I raised, I would not promote the restoring of seeds with any online device.

Trezor internals are considered secure. Seed is ultimately the most sensitive wallet information. So, the seed should only be created with the Trezor internally, that's a part of their security model. Creating the seed on an online OS with very little built in security compromises that model.


Android had a security flaw with it's random number generator a few months back, Bitcoin Wallet for Android users basically discovered the issue, as it was being used to systematically target Bitcoin Wallet Android to steal the funds. Seed creation will make use of the RNG. It's patched, but how confident do you feel?

There you go. Learn how to use those linked tools.

Android... it's not just Android, but the devices it typically runs on, too. But even on it's own, Android has a poor record when it comes to security (specifically cryptography, which Bitcoin relies on)

Android, no. That's a terrible idea.

Winkie ETF is a long way away, if it ever does happen. The Gemini exchange needs to happen first. Gemini exchange doesn't launch without Lawsky's regs.

I am quite curious as to what happens to GBIT once someone finally puts an ask in with their shares. While the volume of bids at this point is negligible, the interesting bit happens once they start getting filled. The longer those bids at $350/btc sit unfilled, the more bullish things appear (contrary to bears and trolls saying it's dead). It seems likely that no one can sell shares at this point. We don't see immediate action as these shares travel by post, secretaries, and primate entry. It's even slower than I expected.

There has to be at least one BIT investor with 12 month shares that is willing to sell at a 30% immediate gain. If not... that's even more bullish.

Anyone complaining about development just take a look at this:

bitmonerod is using only 34 MB of RAM.

Any chance for a poll update:
What day will GBTC trade openly on the NYSE?
-Monday
-Tuesday
-Wednesday
-Thursday
-Friday
-Next week or later.

I know I'll have my trading window up at market open tomorrow.

GBTC sold 75 btc's in 2 weeks....