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Author Topic: Bitcoin stolen from Electrum wallet  (Read 199 times)
HCP
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March 08, 2018, 07:44:44 PM
 #21

Regarding hardware wallets: for me the jury's still out.  I don't like being dependent on a hardware device in case something goes wrong with it.
Isn't your computer also a "hardware device"? What are you going to do when it dies? Tongue

Let me guess, restore your wallet from your seed backup right?

Exactly like what you would do with a hardware wallet... Most (all?) of the hardware wallets use BIP39/44 compatible seeds and can be restored by most HD wallets... Unlike Electrum seeds... which are Electrum only Wink

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stevegee58
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March 08, 2018, 07:59:45 PM
 #22

Isn't your computer also a "hardware device"? What are you going to do when it dies? Tongue

Apples and oranges, my good man.  My computer is a garden variety PC which can be easily replaced with one of the other unused ones I have lying about.
Hardware wallets are specialized, closed source devices that can't be replaced easily.

Let me guess, restore your wallet from your seed backup right?

Exactly like what you would do with a hardware wallet... Most (all?) of the hardware wallets use BIP39/44 compatible seeds and can be restored by most HD wallets... Unlike Electrum seeds... which are Electrum only Wink

That's fine except i'd have to order one and wait.
Plus hardware wallets are closed source so I have now way to know how much to trust them.  Electrum is Python and I can run it right from source without an installer.

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March 08, 2018, 08:22:21 PM
 #23

Hardware wallets are specialized, closed source devices that can't be replaced easily.
...
Plus hardware wallets are closed source so I have now way to know how much to trust them
Yes... very closed source... Roll Eyes

https://github.com/trezor/
https://github.com/LedgerHQ
https://github.com/keepkey
https://github.com/digitalbitbox


That's fine except i'd have to order one and wait.
You DON'T have to order one and wait... you missed the point:
Quote
Most (all?) of the hardware wallets use BIP39/44 compatible seeds and can be restored by most HD wallets
It is the equivalent of replacing your PC with other unused PC's you have lying about... you can just restore your hardware wallet into any compatible wallet you want... even Electrum!

I don't know why people seem to think that once you migrate to a Hardware wallet, you're locked into? Huh

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March 08, 2018, 08:48:27 PM
 #24

Hardware wallets are specialized, closed source devices that can't be replaced easily.
...
Plus hardware wallets are closed source so I have now way to know how much to trust them
Yes... very closed source... Roll Eyes

https://github.com/trezor/
https://github.com/LedgerHQ
https://github.com/keepkey
https://github.com/digitalbitbox


That's fine except i'd have to order one and wait.
You DON'T have to order one and wait... you missed the point:
Quote
Most (all?) of the hardware wallets use BIP39/44 compatible seeds and can be restored by most HD wallets
It is the equivalent of replacing your PC with other unused PC's you have lying about... you can just restore your hardware wallet into any compatible wallet you want... even Electrum!

I don't know why people seem to think that once you migrate to a Hardware wallet, you're locked into? Huh

OK, OK I learned something new today.  The reason people think you're locked in probably has to do with poor marketing.
I never really intended to get one because of the the "ooh, shiny" hype going on.

You are in a maze of twisty little passages, all alike.
bitmover
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March 08, 2018, 08:49:00 PM
 #25

This discussion is nonsense.
Electrum is a very good initiative, but unless it is working on airgapped computer , even a linux, it doesn't share the same security as a hardware wallet.

And you can anytime recover your funds from any wallet, the only thing you need is the private key. This concern about going something wrong with the hardware, doesn't affect your funds. Your coins are in the blockchain, not in the hardware.

Personally i don't like Electrum (and this crazy seed only recognized by electrum, I didn't knew about that... well, i like it even less now)

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March 09, 2018, 11:00:04 PM
 #26

I'm feeling very sorry for you, what had happened to you.  Angry
Malicious plugin/scripts stolen your BTC. Now there is nothing to do with it. The next time you store any valuable coins, make sure your system is not compromised and you are fully aware of any malicious/phishing attempts/scripts.

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