Hardware Wallet Survey - please support!

[Igor Entu]

Of course we are sharing the results.
You can see the results after finishing the survey.

https://docs.google.com/forms/d/e/1FAIpQLSeVg3BK3fEGYkJpkffhzYFoI8GHtdXX6ZE6LbBlJqNalpHqeg/viewform

Many thanks for your help!
Cheers!

[1713569373]

1713569373

[1713569373]

1713569373

[1713569373]

1713569373

[1713569373]

1713569373

[bob123]

A small annotation regarding your survey, more precisely this option to choose from (5th question):

Mobile/desktop wallet (Hot wallets, e.g. Coinbase,...)

Coinbase is not a mobile-/desktop- wallet. It is not even an online-/web- wallet, since they don't give you access to your private keys.
Coinbase is just an exchange which offers an service where they keep your funds and allow you to make transactions (similar to a bank, just without any insurance and way less secured).


You might want to add another option, calling it 'web wallet', since web wallets differ quite heavily from mobile- and desktop wallets and remove 'coinbase' behind mobile-/desktop- wallet option.

[Igor Entu]

Thx - Bob123! Much appreciated!

Already 98 responses! Yeay!

[hassancisse]

bitfi is an unhackable hardware wallet

[bob123]

bitfi is an unhackable hardware wallet

I hope this is just a troll post.

In case you really believe this bullshit, you should definitely reconsider your statement.
There are a lot of factors which make this wallet even worse than traditional HOT wallets (e.g. desktop or mobile wallets).

To name a few things:

• It is a brainwallet (thats basically enough to conclude it is a shitty wallet)
• It has an auto-update function
• It is claimed the source code is publicly available.. which is not true
• John McMonkey supports this wallet.. which is another reason to give it a wide berth

[southafricadude]

bitfi is an unhackable hardware wallet

I hope this is just a troll post.

In case you really believe this bullshit, you should definitely reconsider your statement.
There are a lot of factors which make this wallet even worse than traditional HOT wallets (e.g. desktop or mobile wallets).

To name a few things:

• It is a brainwallet (thats basically enough to conclude it is a shitty wallet)
• It has an auto-update function
• It is claimed the source code is publicly available.. which is not true
• John McMonkey supports this wallet.. which is another reason to give it a wide berth

Where did you see that it is a brain wallet? Lame if true. I missed that info on the website. Trezor still the king for me.

[bob123]

Where did you see that it is a brain wallet? Lame if true. I missed that info on the website. Trezor still the king for me.

From their website (https://bitfi.com/how-it-works):

If you can memorize your secret phrase, you can now store unlimited amounts of wealth in your brain.

[..] your private keys are NEVER stored anywhere except your own brain, and this is precisely why the Bitfi wallet is unhackable.

[HeRetiK]

From their website (https://bitfi.com/how-it-works):

If you can memorize your secret phrase, you can now store unlimited amounts of wealth in your brain.

[..] your private keys are NEVER stored anywhere except your own brain, and this is precisely why the Bitfi wallet is unhackable.

That's friggin hilarious. Looks like after shitty alts, questionable investment schemes / securities / ICOs and insecure exchanges / smart contracts we've finally reached the age of shitty, questionable and insecure hardware wallets.

[adelablue]

submitted! I'm using ledger + myetherwallet.

[buwaytress]

Completed the survey, I think you really should have more options for "Where do you store your crypto"... or at least have a text/comment box to fill it in. As user points out above, probably need to kill the misconception of sites like Coinbase as hot wallets.

I might actually say "web wallets" like suggested by bob123, but maybe you should ask another question that goes along the lines of:

1. With your wallet:
A) you are the only one that has access to your private keys
B) I don't have access to my private keys, it is stored by the wallet service I use
C) I don't know.

if B), Is there a reason you don't want to store your own keys?

That might throw up what I believe to be true: most people feel safer if a centralised service is storing their funds for them, so they can recover lost passwords etc.

So are we about to see a new hardware wallet on offer?

[HCP]

So are we about to see a new hardware wallet on offer?

Given the following from their website... I'd have to say "Yes"

Crypto Advance is currently developing a new USB Hardware Wallet with excellent security technology at its core combined with a clean, seamless, intuitive user experience backed by the expertise and experience of a leading global security manufacturer based in Germany.

That might throw up what I believe to be true: most people feel safer if a centralised service is storing their funds for them, so they can recover lost passwords etc.

Sadly, I have to agree with your assessment. A large percentage of people don't seem to want to take responsibility for their funds. It seems like the masses are not ready to "Be your own bank"

Instead, they seem more interested in making $1/day doing Twitter, Facebook and Telegram spam for ShitCoins™ and being able to convert those earnings into fiat. I think that reflects more on humanity in general and how large the gap between the "haves" and the "have-nots" of the world really is, rather than any failure on behalf of Cryptocurrency.

[buwaytress]

Sadly, I have to agree with your assessment. A large percentage of people don't seem to want to take responsibility for their funds. It seems like the masses are not ready to "Be your own bank"

Instead, they seem more interested in making $1/day doing Twitter, Facebook and Telegram spam for ShitCoins™ and being able to convert those earnings into fiat. I think that reflects more on humanity in general and how large the gap between the "haves" and the "have-nots" of the world really is, rather than any failure on behalf of Cryptocurrency.

Absolutely. Sometimes we're tempted to think it's the 99% or even those not aware enough affected by this. Tempting to believe it's just pure ignorance and that awareness might change that, but people keep proving themselves to deserve what they get.

I've seen enough evidence to know that even educated people, the top 1% who should know better... aren't much different. Those I know close enough to try to encourage using their own wallets for way more Bitcoin than I'll ever realistically own simply, don't change their minds. Like you said, they don't want to be their own bank, they like the banks, they want someone who'll guard their wealth. They don't care that storing their coins without private key access means they're not in control. They don't give a damn about the system.

[ryanc]

Bitfi's hardware wallet was confirmed to be a brain wallet variant.

I reversed it and published the algorithm. These addresses can be cracked without any access to the device.

https://rya.nc/bitfi-wallet.html