[ESHOP launched] Trezor: Bitcoin hardware wallet

[dnaleor]

pro tip regarding this: it is possible to setup a passphrase that is "added" to the seed (you have to enter this on the wallet host). That way the passphrase has to be brute-forced, too (or key-logged beforehand). That passphrase is not stored on trezor. You can even use multiple different ones (resulting in different wallets) for plausible deniability.

AWESOME!!!!

THIS IS SOOOOOO GREAT !!

In order to mitigate this risk it is possible to set up your TREZOR multiple times with multiple passphrases.
 The goal is to have one “spoof” setup that only holds a few bitcoins or bitcents and one “real” setup that holds your fortune.

better make that 2 spoof setups. ;-)

yes, you start with a few bitcents
thief will use the 5$ attack a second time and you give them acces to 1.2 BTC or something

The treasure can stay hidden

or I can toss them a few casacius coins. That is also a possibility :p

[molecular]

pro tip regarding this: it is possible to setup a passphrase that is "added" to the seed (you have to enter this on the wallet host). That way the passphrase has to be brute-forced, too (or key-logged beforehand). That passphrase is not stored on trezor. You can even use multiple different ones (resulting in different wallets) for plausible deniability.

AWESOME!!!!

THIS IS SOOOOOO GREAT !!

yes it is. They really thought this thing through quite well.

[dnaleor]

also, the login feature is nice.
It should be able to use passwords more securely, no?

I really think BTC related websites will adopt this technology

[casadebitcoin]

Looking forward to my 'First Edition' Trezor. Way to regroup and deliver the classic after that manufacturing screw-job you all received...

Time heals all trolls and pain over the long deliver wait.

[cor]

Looking forward to my 'First Edition' Trezor. Way to regroup and deliver the classic after that manufacturing screw-job you all received...

Time heals all trolls and pain over the long deliver wait.

thanks! it's been a difficult time but feedbacks like this one held us focused..

Our current manufacturer is really pushing hard for results.  They are working 24hrs now in order to have Trezor for our crowdfunders according to the plan and some more devices for the stock, so once we launch the sales there will be no waiting anymore.

Today the sales director traveled to Prague to personally deliver a part of First Editions to us. All should be here by the end of the week. When the packaging is done, one last hug &   and the babies will be sent out to the wilderness. 

[dnaleor]

Looking forward to my 'First Edition' Trezor. Way to regroup and deliver the classic after that manufacturing screw-job you all received...

Time heals all trolls and pain over the long deliver wait.

thanks! it's been a difficult time but feedbacks like this one held us focused..

Our current manufacturer is really pushing hard for results.  They are working 24hrs now in order to have Trezor for our crowdfunders according to the plan and some more devices for the stock, so once we launch the sales there will be no waiting anymore.

Today the sales director traveled to Prague to personally deliver a part of First Editions to us. All should be here by the end of the week. When the packaging is done, one last hug &   and the babies will be sent out to the wilderness. 

sooooooooooooooo excited 
I really appreciate the effort of you guys!

[chriswilmer]

Looking forward to my 'First Edition' Trezor. Way to regroup and deliver the classic after that manufacturing screw-job you all received...

Time heals all trolls and pain over the long deliver wait.

thanks! it's been a difficult time but feedbacks like this one held us focused..

Our current manufacturer is really pushing hard for results.  They are working 24hrs now in order to have Trezor for our crowdfunders according to the plan and some more devices for the stock, so once we launch the sales there will be no waiting anymore.

Today the sales director traveled to Prague to personally deliver a part of First Editions to us. All should be here by the end of the week. When the packaging is done, one last hug &   and the babies will be sent out to the wilderness. 

I bought 4 of these (2 metallic and 2 classic)... but I want to buy an additional 100 as soon as it becomes an option and just hand them out to friends and family like candy. I'm sure others feel the same way. TELL YOUR MANUFACTURER TO MAKE 10 MILLION OF THEM!

[dnaleor]

I bought 4 of these (2 metallic and 2 classic)... but I want to buy an additional 100 as soon as it becomes an option and just hand them out to friends and family like candy. I'm sure others feel the same way. TELL YOUR MANUFACTURER TO MAKE 10 MILLION OF THEM!

indeed. This device has a huge potential, especially for people who are not tech savvy and are afraid to buy bitcoin because they think they will loose it.

[molecular]

I bought 4 of these (2 metallic and 2 classic)... but I want to buy an additional 100 as soon as it becomes an option and just hand them out to friends and family like candy. I'm sure others feel the same way. TELL YOUR MANUFACTURER TO MAKE 10 MILLION OF THEM!

indeed. This device has a huge potential, especially for people who are not tech savvy and are afraid to buy bitcoin because they think they will loose it.

I feel the same way. I think demand will reflect the awesomeness und usefulness of trezor over time.

[Anon136]

Looking forward to my 'First Edition' rTrezor. Way to regroup and deliver the classic after that manufacturing screw-job you all received...

Time heals all trolls and pain over the long deliver wait.

thanks! it's been a difficult time but feedbacks like this one held us focused..

Our current manufacturer is really pushing hard for results.  They are working 24hrs now in order to have Trezor for our crowdfunders according to the plan and some more devices for the stock, so once we launch the sales there will be no waiting anymore.

Today the sales director traveled to Prague to personally deliver a part of First Editions to us. All should be here by the end of the week. When the packaging is done, one last hug &   and the babies will be sent out to the wilderness. 

I bought 4 of these (2 metallic and 2 classic)... but I want to buy an additional 100 as soon as it becomes an option and just hand them out to friends and family like candy. I'm sure others feel the same way. TELL YOUR MANUFACTURER TO MAKE 10 MILLION OF THEM!

yep. loaded trezors for everyone’s christmas

[bitllionaire]

it looks great but 1 btc is so expensive

[molecular]

it looks great but 1 btc is so expensive

That pricing is from back when 1 BTC was around $200. It's not unreasonable to hope for a much better price in BTC-terms.

[slush]

That pricing is from back when 1 BTC was around $200 $80-$120.

[binford]

I bought my ordering btc 71€ at time of preorder (last july or august)

I remember the nervousness around that time, if the preorder btc will be enough to finance the production. crazy times.

[infested999]

it looks great but 1 btc is so expensive

That pricing is from back when 1 BTC was around $200. It's not unreasonable to hope for a much better price in BTC-terms.

Was any of the production paid for with BTC? Otherwise the price can be firm in fiat.

[JorgeStolfi]

it looks great but 1 btc is so expensive

That pricing is from back when 1 BTC was around $200. It's not unreasonable to hope for a much better price in BTC-terms

Was any of the production paid for with BTC? Otherwise the price can be firm in fiat.

In their website they tell how they first looked for a manufacturer of the plastic case that would accept payment in bitcoin.  But in the end the guy did not deliver, so they had to look for another one, presumably paying in euros.

Any company that does its accounting in bitcoin is obviously inpcompetent at managing its money.  We leave it as an exercise to compute the probability that it will deliver what it promises to its clients.  Extra credit for figuring out how many months it will take to go bankrupt.

[klokan]

it looks great but 1 btc is so expensive

That pricing is from back when 1 BTC was around $200. It's not unreasonable to hope for a much better price in BTC-terms

Was any of the production paid for with BTC? Otherwise the price can be firm in fiat.

In their website they tell how they first looked for a manufacturer of the plastic case that would accept payment in bitcoin.  But in the end the guy did not deliver, so they had to look for another one, presumably paying in euros.

Any company that does its accounting in bitcoin is obviously inpcompetent at managing its money.  We leave it as an exercise to compute the probability that it will deliver what it promises to its clients.  Extra credit for figuring out how many months it will take to go bankrupt.

1/The statement about the bitcoin accounting is obviously not true. It just depends whether it is your income or your expenses that are accounted in BTC. For example, all bitcoin pools and miners have their incomes accounted in BTC and some of them are still not bankrupt.

2/ Czech companies usually pay their expenses in Czech Koruna, not Euros.

3/ The price can be firm in fiat. It makes more sence at this point, because BTC is quite volatile (or at least it was 8 months ago and might be again). Looking back, nobody remembers that preorder Trezors were sold for 100USD equivalent. Everybody just keeps repeating that it was sold for 1BTC so it is too expensive. Let's just wait for the retail to see what the price would be. I'm curious myself. I need to buy at least one more.

[molecular]

That pricing is from back when 1 BTC was around $200 $80-$120.

ok, sorry. Didn't want to err on the wrong side.

[JorgeStolfi]

Any company that does its accounting in bitcoin is obviously inpcompetent at managing its money.  We leave it as an exercise to compute the probability that it will deliver what it promises to its clients.  Extra credit for figuring out how many months it will take to go bankrupt.

1/The statement about the bitcoin accounting is obviously not true. It just depends whether it is your income or your expenses that are accounted in BTC. For example, all bitcoin pools and miners have their incomes accounted in BTC and some of them are still not bankrupt.

2/ Czech companies usually pay their expenses in Czech Koruna, not Euros.

Sorry about the currency mistake.  (Inexcusable, since I still have some Czech banknotes somewhere here in my office, mementos of a conference in Plzeň some years ago...)

But the accounting part is very serious.

The ~1% yearly inflation of dollars and euros is already a complication for accounting; but if it is ignored it the errors are of that magnitude, and therefore are not likely to affect the company's financial planning -- e.g. how much to charge for the product in order to make a profit of about 10%.

The month-to-month variation in the value of BTC, on the other hand, is MUCH too large to ignore.  You cannot do a budget in BTC, to plan for a 10% profit, if the unit of accounting may be worth 100$ when your client prepays, 1200$ when you close a deal with a supplier,  800$ when you pay him, 400$ when you ship the unit, and 600$ when the client returns it for refund.  

Budgeting in BTC is MUCH worse than a building contractor using "strides", "spans", "arm lengths", and "car widths" in his engineering plans.  Much wose even than trying to build an airplane with a measuring tape made of latex. (Can latex can stretch to 12 times its rest length?)

[klokan]

Any company that does its accounting in bitcoin is obviously inpcompetent at managing its money.  We leave it as an exercise to compute the probability that it will deliver what it promises to its clients.  Extra credit for figuring out how many months it will take to go bankrupt.

1/The statement about the bitcoin accounting is obviously not true. It just depends whether it is your income or your expenses that are accounted in BTC. For example, all bitcoin pools and miners have their incomes accounted in BTC and some of them are still not bankrupt.

2/ Czech companies usually pay their expenses in Czech Koruna, not Euros.

Sorry about the currency mistake.  (Inexcusable, since I still have some Czech banknotes somewhere here in my office, mementos of a conference in Plzeň some years ago...)

But the accounting part is very serious.

The ~1% yearly inflation of dollars and euros is already a complication for accounting; but if it is ignored it the errors are of that magnitude, and therefore are not likely to affect the company's financial planning -- e.g. how much to charge for the product in order to make a profit of about 10%.

The month-to-month variation in the value of BTC, on the other hand, is MUCH too large to ignore.  You cannot do a budget in BTC, to plan for a 10% profit, if the unit of accounting may be worth 100$ when your client prepays, 1200$ when you close a deal with a supplier,  800$ when you pay him, 400$ when you ship the unit, and 600$ when the client returns it for refund.  

Budgeting in BTC is MUCH worse than a building contractor using "strides", "spans", "arm lengths", and "car widths" in his engineering plans.  Much wose even than trying to build an airplane with a measuring tape made of latex. (Can latex can stretch to 12 times its rest length?)

Of course it can be done. It cannot be done without hedging yourself and/or taking risk. But it can be done. Dell is selling for BTC. You just need to find the right balance of your BTC and fiat reserves and you have to be prepared to handle the volatility.