Ledger Nano Gen5 signer.

[zabzob]

I'm surprised Ledger hasn't already gone out of business. Who is still buying their products??

[satscraper]

I recalled the official Speculos emulator for Ledger hardware wallets, which allows you to explore the wallet's functions without owning the devices themselves. I used Speculos a long time ago before buying my S+. I think it should also work with the Ledger Nano™ Gen 5 firmware.


BTW, found cool appliance for Ledger devices. I like it:

[The Cryptovator]

I am not interested in using Ledger devices anymore. Currently I have a Ledger Nano X that I am struggling to use. Most probably the battery has gone; when trying to make a transaction, it just keeps shutting down. So it has to be plugged in with a charger or with the smartphone to use it. Ledger service disappointed me from buying any latest device. On the other hand, a closed-source device isn't interesting to use for security reasons, though Ledger still doesn't have any allegations yet.

I'm surprised Ledger hasn't already gone out of business. Who is still buying their products??

Though I am not surprised, at least I am not going to buy. They were one of the popular hardware wallets. Unless they upgrade themselves with the time, then they might be lost from the market like Nokia. It seems they still aren't focusing on an open-source wallet.

[zabzob]

I'm surprised Ledger hasn't already gone out of business. Who is still buying their products??

Though I am not surprised, at least I am not going to buy. They were one of the popular hardware wallets. Unless they upgrade themselves with the time, then they might be lost from the market like Nokia. It seems they still aren't focusing on an open-source wallet.

I guess nothing should surprise me anymore, when it comes to peoples' capacity to make poor choices about how to secure their crypto. Ledger once leaked their customers' shipping addresses, resulting in some receiving letters from crypto scammers at their homes. Who knows what other bad things resulted from that and never made the news. In addition to that, they store private keys online for "recovery" purposes. And they use closed source firmware. People are still buying their junk? Some people must really want to loose their money

[Meuserna]

I'm surprised Ledger hasn't already gone out of business. Who is still buying their products??

Sadly, most people don't understand the basics of Bitcoin yet, let alone the complexities of self custody. For example, Ledger started pushing the narrative that closed source is better than open source. Fun fact: Bitcoin itself is open source, for good reason.

Even in a forum like this, where people have much more knowledge than average folks, there's still so much confusion and misunderstanding.

People think their coins are in their wallets. No. Bitcoin is only on the blockchain. The wallet holds the keys.

People think the seed phrase is like a password for the app or device. No. Seed words represent numbers (which are converted to binary and used as entropy) for generating keys, including the seed itself, which is a master key.

This is complex stuff. And a shady company like Ledger can thrive in a sea of misunderstanding and misinformation by lying and shoveling out gadgets with meaningless specs. Even here, people argue about specs more than they discuss real world security.

I hate Ledger, but I understand why they're so successful. Watch hardware wallet videos on youtube. 99% of the reviews are about gadgets, not security, and many of the reviewers don't seem to understand the basics of how the devices work beyond PIN codes and maaaybe some barebones basic features.

Companies like Ledger and Tangem target people with less knowledge, and sadly, there's no shortage of them. I don't say that as a kind of elitism though. It's our job to help people better understand this stuff so they can become long term hodlers and do self custody safely.

[joniboini]

Watch hardware wallet videos on youtube. 99% of the reviews are about gadgets, not security, and many of the reviewers don't seem to understand the basics of how the devices work beyond PIN codes and maaaybe some barebones basic features.

This problem is prevalent in other industries, too, I feel. Maybe Ledger is learning from others' playbook. I remember watching a game review where the reviewer praised the game, but when it launched, it died quickly. It's so weird that some viewers seem to think that the videos are paid, yet still watch or continue following the content creator religiously. Another example is the short review of a new phone that uses Antutu and then calls it a day. Still hard to believe everyone who's interested in crypto wouldn't be more critical since they're dealing with their wealth, not just $100-$300 device.

[Meuserna]

Watch hardware wallet videos on youtube. 99% of the reviews are about gadgets, not security, and many of the reviewers don't seem to understand the basics of how the devices work beyond PIN codes and maaaybe some barebones basic features.

This problem is prevalent in other industries, too, I feel.

Absolutely. Look at cameras. Idiots have been buying based on specs for the past 20 years with no idea how their cameras actually work. Dudes argue online about megapixels and sensor sizes while shooting in auto. nd many photograph forums are filled with talk about specs not photography. It's insane.

But it's much worse here because we're talking about people making youtube videos about devices they don't understand in order to influence people in how to secure their financial futures. Read that sentence again. God, it's all so awful. And many of them (COUGH Crypto Dad COUGH) are obviously peddling crap they don't understand so they can get more free gadgets. Some of them don't understand why key extraction is dangerous or why closed source code is an issue (especially since Ledger has lied about their code so many times!). It's insane, and it's awful. But nobody cares because most dudes love gadgets, and they care more about gadgets than actual security.

[dkbit98]

I hate Ledger, but I understand why they're so successful. Watch hardware wallet videos on youtube. 99% of the reviews are about gadgets, not security, and many of the reviewers don't seem to understand the basics of how the devices work beyond PIN codes and maaaybe some barebones basic features.

I think they were successful up to certain point, not anymore, and only reason for that is because they spent a bunch of money on different promotions.
With this new ledger Gen5 I see a lot of negative comments, and they didnt attract so much attention like with previous devices.
I don't remember last time I saw a single innovation or bitcoin code contribution from ledger devs.  

[Pmalek]

Ledger once leaked their customers' shipping addresses, resulting in some receiving letters from crypto scammers at their homes. Who knows what other bad things resulted from that and never made the news.

The leak included more than shipping addresses. It contained full names, email addresses, and phone numbers. Perhaps even some payment into and payment methods.
Rarely does ten days go by without news of a crypto heist and a $5 wrench attack, where a person gets kidnapped, tied up, and tortured to give up keys and passwords to their cryptocurrency. Many of these attacks take place in France. I wouldn't be surprised to hear that criminals are using the leaked database to look for potential victims in their vicinity in order to rob them.