I'm sorry, but you're actually talking out of your ass here.
Why would you include the cost of seed plates when using a hardware wallet, but not when using a laptop? It makes no sense. Either you factor in the cost with both or with none. I prefer none, because I won't assume how someone secures their seed based on their wallet choice.
Sure seed plate is not needed, but that is the recommendations I use to see. Why not when using a latptop? Because with bitcoin core you just backup a wallet.dat
You'd advise to do backups; sure, you can do that. But reliability of laptop storage would mean you might be looking at replacing that crappy old laptop HDD short time after setting it up, so having to buy a new one (or upgrade to SSD) will again cost you time and money to install, set up and restore. Lots of hassle.
Backups can be made in USB Flash Drive, DVD, SD Cards etc
Not 'many of them can be hacked easily'. The hacks that were possible, weren't too simple to perform (took multiple hours & good equipment + knowledge) and they were only on hardware wallets of the 'first generation' (without secure element) and on firmware versions that are ancient by 2022. I believe the Trezor hack utilized a 2016 firmware; that would be 6 years ago now. I also explicitly mentioned that I'd prefer a HW wallet with secure element over a laptop when it comes to physical attacks.
The way to exploit the trezor one is the same for the last version, both can not be fixed.
That doesn't require a bug in Bitcoin Core. Assuming the same attacker model (access to the device for a reasonable, but equal amount of time), he'll just need to pull the HDD out of the laptop, while he'd have to perform a pretty advanced low-level hardware attack on the hardware wallet and might not pull it off in time for the owner to notice the loss, restore the seed and move the funds.
That completley goes out of the point, the bug was in ledger software making to loose funds because of change, so again, I do not imagine this kind of "bugs" happening in the most reviewed client such as Bitcoin Core
Source? And even if they did exist, as you say: it would be pretty complicated. Probably buying you enough time to move your funds.
https://www.youtube.com/watch?v=s3f1zNpzINYAnd check their blog for more info how technique was improved recently.
Well first, you can put in a passphrase on a hardware wallet as well, so that's not an argument. And while you say more attacks will be developed, also better SE chips will be developed. It's a cat-and-mouse game and the attacker is always going to be a step behind. Until now, even the oldest of secure elements used in hardware wallets are secure, to the best of my knowledge.
So now we assume that if HW is seized can be compromised, so let's add a passphrase, if you add a secure one entering will be so tedious in some models or nearly impossible to be easy of use, and in other HW you will have to type with the PC which is not a safe practice.
Again BS: falling for phishing sites and giving away your seed words isn't due to the wallet being a HW wallet. That can happen with literally any wallet. How can this seriously be considered an argument against hardware wallets?
Or is it more leaning into whataboutism such as: 'Well, attacks that a HW wallet can't protect you against, do exist, so they're useless'?
There are reasons against hardware wallets, but the ones you present are so weak, it's ridiculous.
Falling for scams is not HW fault, what I just said is that someone educated is less likely to fall for it, I do not see how ridiculous is this statement.
To store several copies of the wallet.dat you'll need several airgapped devices. If you store them all on the same device it's as good as having no backup at all.
Yes correct, several devices.
Given full physical access and sufficient expertise the seed can be extracted from certain Trezor models, but AFAIK no such attacks have been successfully mounted on Ledger devices. Feel free to bring me up to date in case there's been any successful seed extractions from Ledger devices recently.
Recently I am not aware no, old ledger models yes but since nano X not that I am aware.
I guess you're referring to paper wallets? Since hardware wallets are commonly deterministic it's technically not possible to lose funds to unknown change addresses (though if you have any more info on that I'd love to hear it).
That was on ledger, in version 0.13 if not wrong. Just search ledger lost funds chane address, you will find all information about it.
Seeds are also used by Bitcoin Core and other software wallets so that doesn't make a difference. Except, a lot of phishing sites ask for private keys directly rather than the seed, which for a regular user is impossible to obtain from the hardware wallet directly.
Pishing sites use to ask mnemonic seed, Bitcoin Core uses bip32 and backup is a wallet.dat, so there is no mnemonic words to backup.
* The average Joe will not save 400+GB on his HDD. He doesn't understand pruning, he doesn't want to wait days for the initial sync and doesn't understand why should he download such amount of data.
* The average Joe probably has Windows or mobile phone he wants to use Bitcoin with.
* The average Joe is not tech savvy and he would make mistakes if we would advise him use cold storage. I've seen case when one was claiming he has cold storage which he connects to the internet when he send transactions.
(Yes, he got his money stolen by some malware/exploit).
Bitcoin core is great, but it's not for everybody.
Bitcoin core, if used as hot wallet, is as vulnerable as any hot wallet..
You are right, maybe I was wrong assuming that average Joe would be interested in learning more or could have concerns about delegating security.
If computer is compromised yes, it will not be safe, however I was referring in to use bitcoin core offline.
You don't see the average PC user do this, right? The average user who gets confused when the internet icon has moved sure can't handle this. And even if they can do it, it's a lot of work for making a transaction. That's okay if you do it once a year, it's not okay for daily use.
That was a good one