[2018-12-14]Samsung Motivated to Launch Crypto Cold Wallet in Upcoming Galaxy S1

[Vladdirescu87]

Samsung Motivated to Launch Crypto Cold Wallet in Upcoming Galaxy S10 Smartphone

According to a report from SamMobile, the largest online Samsung platform, the electronics bull is considering whether to quickly integrate an effective cold wallet system into its Galaxy 10 smartphone which is launching soon. Samsung is the globe’s top manufacturer of semiconductors and smartphones.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/samsung-motivated-to-launch-crypto-cold-wallet/

[Slow death]

these article is very intersting, I find the article very interesting because of this:

According to a report from SamMobile

considering

there is nothing concrete, they are just considering. this is the problem of our news channels, run to publish something that is still being considered or sometimes publish rumors and after months people are disappointed because the same company that was considering the thing X comes to the public say that gave up the thing X

[figmentofmyass]

right---a "cold wallet" built into a smartphone.

it's bad enough we got noobs plugging hardware wallets into online PCs and calling it "cold storage". now mobile wallets are gonna be called "cold storage" too? it's like a conspiracy to discredit good security practices.....

[veleten]

who in their right mind would trust a cold wallet inbuilt into a smartphone?
too many security risks, not enough reasons to even consider using it
or Samsung thinks that every one in the near future will walk the streets with their savings in crypto in their hands?
well at least they are "motivated" to "maybe consider using" -thats a start

[hatshepsut93]

right---a "cold wallet" built into a smartphone.

it's bad enough we got noobs plugging hardware wallets into online PCs and calling it "cold storage". now mobile wallets are gonna be called "cold storage" too? it's like a conspiracy to discredit good security practices.....

No conspiracy here, they are just capitalizing on the phrase "cold wallet" which is strongly associated with "inpenetrable security" in the minds of users. Sadly, those users don't understand that cold wallet is not just some type of wallet, it's a practice that depends on the user. Generally phone security is better than desktop security, and with wallets built-in in the phone hardware it can become even better, but this doesn't mean that it's a good idea to hold all your coins on your phone, it should be used as a wallet for daily purchases.

[bbc.reporter]

@figmentofmyass, @hatshepsut93. Agreed. It would have also been better for coinidol.com if they did an investigative type of journalism criticizing Samsung for this.

In any case, leave again it to the community to tell them that it's a scam hehehe.

[stomachgrowls]

How come a smartphone would act as a cold wallet if it would be actively be connected to a network? A simple logic or common sense can tell you directly.

Take a look on HTC's phone on what happened.

[Kakmakr]

Yea, adding a "hard wallet" in one of the most used phones in the world would be a good thing, but adding the wallet can also be the most destructive thing for Bitcoin, if this is done in a insecure way.

They should rather market this as a software wallet and be done wih it, because a hardware wallet is not meant to be "online" as most of the previous posters mentioned. <Yes, they might have the wallet incorporated into the circuit <hardware> of the phone, but it will be online 24/7. 

Hackers will target these phones like crazy! <Being the biggest platform>

[buwaytress]

right---a "cold wallet" built into a smartphone.

it's bad enough we got noobs plugging hardware wallets into online PCs and calling it "cold storage". now mobile wallets are gonna be called "cold storage" too? it's like a conspiracy to discredit good security practices.....

I was just thinking myself too. Cold wallet, and then the worst possible device. The way people use their smartphones, tethering and connecting, knowingly and unknowingly. Real smart. We've got industry commentators just regurgitating technical terminology to fool themselves and people into thinking they're experts, worst is it actually works.

And this just after yesterday's 2018 Worst Password Offender's list coming out with cryptocurrency wallet users ranked No. 3. Yes, still behind staff members of the Pentagon, but no surprise to see that crypto users spend so much money on gadgets and "cold storage" and in the end still practising really poor security behaviours.

Actually I'd really like to see them do it. Then wait for the "hacks" to start happening.

[gentlemand]

right---a "cold wallet" built into a smartphone.

They should've perhaps rephrased it as a hardware wallet, but that's not quite as catchy. All hardware wallets are are isolated elements. You could just as easily have one of those installed in a phone as a fancy USB stick.

This is an interesting watch about the first proper attempt at a 'blockchain phone'

https://www.youtube.com/watch?v=PR5PkTa1ags&feature=youtu.be

It sounds clunky and still largely a mystery.

[rodskee]

Wow since i start joining herein forum i always heard sumsung company support in bitcoin
It's obvious one of the famous cellular phone company knows the importance of bitcoin
Ao there nothing to doubt bitcoin have a future as world currency

[bL4nkcode]

Well, in some articles that were published before the article in the OP has, it's being said that samsung denies about the rumors.

Samsung Dismisses Galaxy S10 Crypto Wallet Reports as ‘Rumor and Speculation’
Despite registering trademarks, Samsung denies building a blockchain phone

And even if they do, it's hilarious, I don't know if some crypto guy will do buy that one for having a so-called cold wallet in a smartphone.

[Alex_Zi]

Another fiat manufacture goes to crypto. Are you still lesten them who told "crypto is scam"? They know that it is a nearest future! So, just HODL!

[jeromix]

Samsung has already make and conducted some studues about cryptocurrency. They even had made some good statements regarding on accepting bitcoin as a payment option for the users that would like to purchase their smartphone/android phones. Probabky they had seen that in joining cryptocurrency they can relatively earn more by introducing their products in this multi billion system of cryptocurrency.

[gentlemand]

Samsung has already make and conducted some studues about cryptocurrency. They even had made some good statements regarding on accepting bitcoin as a payment option for the users that would like to purchase their smartphone/android phones. Probabky they had seen that in joining cryptocurrency they can relatively earn more by introducing their products in this multi billion system of cryptocurrency.

That 'Samsung stores accepting crypto' tale was a few franchises in Estonia or something that got told to shut up about it pretty rapidly. As ever it was nothing to do with Samsung themselves.

What is undeniable is Samsung's entry into ASIC chip manufacture. However that's not going to have much to do with their belief in crypto, rather their belief in getting paid to do a job for someone.

[Lucius]

No conspiracy here, they are just capitalizing on the phrase "cold wallet" which is strongly associated with "inpenetrable security" in the minds of users. Sadly, those users don't understand that cold wallet is not just some type of wallet, it's a practice that depends on the user. Generally phone security is better than desktop security, and with wallets built-in in the phone hardware it can become even better, but this doesn't mean that it's a good idea to hold all your coins on your phone, it should be used as a wallet for daily purchases.

I agree if there is any truth about the so-called cold wallet in new Samsung Galaxy it is only cheap trick to get more crypto oriented buyers. But we all know such wallet can not be in any way considered secured, and holding large amounts of coins in smarthphone with internet access is far from anything we can consider safe. In the case of a hacking of such wallet Samsung would only get negative PR, which would mean more harm than good for the company.

I can not agree with your statement that "Generally phone security is better than desktop security..." for a simple reason, today's users are not paying enough attention to their phones security, and if you read most of the articles who write on this topic - they say that AV on smartphone is not required / necessary. There is a belief that Google and Apple provide sufficient protection for their mobile OS, but why rely only on that if there is additional protection.

Here are some data from Q1 2018 by Kaspersky Lab

Notice : Link is scanned with https://www.virustotal.com and it is safe to visit.