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Author Topic: Hardbit hardware wallet?  (Read 4821 times)
Alley
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May 10, 2014, 03:17:27 AM
 #1

http://www.dcmagnates.com/physical-bitcoin-wallet-hardbit-launched-in-china-rest-of-the-world-to-follow/


Just heard about this and supposedly launches internationally tomorrow?  Alternative to trezor and bitsafe?

 http://www.hardbit.cn
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May 10, 2014, 08:46:48 AM
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I guess we wait for reports of real-world testing now.

Was expecting sub 0.25btc price, so not too bad.
fryarminer
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May 10, 2014, 02:48:21 PM
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I suppose China is still very much involved with Bitcoin.
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May 10, 2014, 02:49:29 PM
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I would not trust any device that was not open source. How do we know this cannot be hacked? How do we know that this isn't sending our private keys to the firm?
emkay47
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May 10, 2014, 03:30:31 PM
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I just ordered 4 of them .
Payment was accepted and got a mail from them that they will be shipped on Monday .

Will post the unboxing here .

There is not much info on hardbit.cn . I mean no technical data and stuff .
But i hope its open source , or it will be hard to trust them .

Also , open source will help us install some cool wallpapers and BTC receiving and sending sounds , I guess !!

It , looked good , could not resist myself , so ordered 4 of the .
Hope they turn out good .

I paid for 2 plastic Trezors in Sep. last year , have received nothing , and they have asked for 12 more weeks .
And those were 1 BTC each , these are damn cheap with cool display and rugid body .

Though , i wonder , how's its battery life .

BTC : 1JL5qWRebJ6syr51UjCu7q7SvXyzcGwpLf

https://coinsecure.in | Buy and Sell Bitcoin in India Now !! | coinsecure™ | connecting India to Bitcoin !™
fryarminer
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May 10, 2014, 04:08:50 PM
 #6

I would not trust any device that was not open source. How do we know this cannot be hacked? How do we know that this isn't sending our private keys to the firm?

it seems by the pic that it is android based. So it probably is open source.
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May 10, 2014, 04:19:11 PM
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A Bitcoin transaction operated on Hardbit only needs 3 steps: scan the payment request, input password, show your transaction QR to receiver. This is not complex compared to software wallet on smartphone, and is more convienent compared to software wallets on computers.

Wait how does the device get the outputs that are used as input? On the website it says the device is never connected to the internet so how does it get the blockchain or the SPV information?
emkay47
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May 10, 2014, 04:38:34 PM
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A Bitcoin transaction operated on Hardbit only needs 3 steps: scan the payment request, input password, show your transaction QR to receiver. This is not complex compared to software wallet on smartphone, and is more convienent compared to software wallets on computers.

Wait how does the device get the outputs that are used as input? On the website it says the device is never connected to the internet so how does it get the blockchain or the SPV information?

You need a smart phone with internet to complete the transaction from HardBit .

BTC : 1JL5qWRebJ6syr51UjCu7q7SvXyzcGwpLf

https://coinsecure.in | Buy and Sell Bitcoin in India Now !! | coinsecure™ | connecting India to Bitcoin !™
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May 10, 2014, 06:27:46 PM
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A Bitcoin transaction operated on Hardbit only needs 3 steps: scan the payment request, input password, show your transaction QR to receiver. This is not complex compared to software wallet on smartphone, and is more convienent compared to software wallets on computers.

Wait how does the device get the outputs that are used as input? On the website it says the device is never connected to the internet so how does it get the blockchain or the SPV information?

You need a smart phone with internet to complete the transaction from HardBit .

Do you have any sources for that and is there another option (live feeding it SPV information before you leave home or something like that?). I really have to interest in carrying a tracking device all the time.
Where can I get more information about hardbit?
franky1
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May 10, 2014, 06:46:40 PM
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its a phone.. can anyone else not see that...

so it looks to me to be a rooted phone with custom software. and i bet it still has all the antenna and cellphone chips inside.. so i call this a hobby device for fanboys and not a end-product for serious investors.

although i presume all the phone code for making calls and accessing the internet is scrubbed out and all the new software does is form signed transactions and converts that into a QR code to then be transmitted by the payee.

i wouldnt say its 100% secure. especially if buying from third party vendors who can add software to re-enable internet access (trojan) to snoop on their customers activities and privkeys.

in short, its a step in the right direction but not a 100% secure method for average jo or rich investors that dont know how to check sourcecode.

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
emkay47
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May 10, 2014, 07:15:47 PM
 #11

Quote
A Bitcoin transaction operated on Hardbit only needs 3 steps: scan the payment request, input password, show your transaction QR to receiver. This is not complex compared to software wallet on smartphone, and is more convienent compared to software wallets on computers.

Wait how does the device get the outputs that are used as input? On the website it says the device is never connected to the internet so how does it get the blockchain or the SPV information?

You need a smart phone with internet to complete the transaction from HardBit .

Do you have any sources for that and is there another option (live feeding it SPV information before you leave home or something like that?). I really have to interest in carrying a tracking device all the time.
Where can I get more information about hardbit?


http://www.dcmagnates.com/physical-bitcoin-wallet-hardbit-launched-in-china-rest-of-the-world-to-follow/

Read where it says :-

'' The device doesn’t have the ability to connect to the internet, meaning another device, e.g. a smartphone will be needed to complete the transaction. ''

I don't know how much of that is true and how it works .
I will be receiving mine very soon , within 3-4 days .

Ill post everything .

BTC : 1JL5qWRebJ6syr51UjCu7q7SvXyzcGwpLf

https://coinsecure.in | Buy and Sell Bitcoin in India Now !! | coinsecure™ | connecting India to Bitcoin !™
Aswan
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May 10, 2014, 07:54:09 PM
 #12

Quote
A Bitcoin transaction operated on Hardbit only needs 3 steps: scan the payment request, input password, show your transaction QR to receiver. This is not complex compared to software wallet on smartphone, and is more convienent compared to software wallets on computers.

Wait how does the device get the outputs that are used as input? On the website it says the device is never connected to the internet so how does it get the blockchain or the SPV information?

You need a smart phone with internet to complete the transaction from HardBit .

Do you have any sources for that and is there another option (live feeding it SPV information before you leave home or something like that?). I really have to interest in carrying a tracking device all the time.
Where can I get more information about hardbit?


http://www.dcmagnates.com/physical-bitcoin-wallet-hardbit-launched-in-china-rest-of-the-world-to-follow/

Read where it says :-

'' The device doesn’t have the ability to connect to the internet, meaning another device, e.g. a smartphone will be needed to complete the transaction. ''

I don't know how much of that is true and how it works .
I will be receiving mine very soon , within 3-4 days .

Ill post everything .

But theres ways around the requirement for another device if you can sync is like an SPV client before leaving our home. This should be implemented asap since it can remove the requirement of an additional device.
emkay47
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May 10, 2014, 09:34:59 PM
 #13

Quote
A Bitcoin transaction operated on Hardbit only needs 3 steps: scan the payment request, input password, show your transaction QR to receiver. This is not complex compared to software wallet on smartphone, and is more convienent compared to software wallets on computers.

Wait how does the device get the outputs that are used as input? On the website it says the device is never connected to the internet so how does it get the blockchain or the SPV information?

You need a smart phone with internet to complete the transaction from HardBit .

Do you have any sources for that and is there another option (live feeding it SPV information before you leave home or something like that?). I really have to interest in carrying a tracking device all the time.
Where can I get more information about hardbit?


http://www.dcmagnates.com/physical-bitcoin-wallet-hardbit-launched-in-china-rest-of-the-world-to-follow/

Read where it says :-

'' The device doesn’t have the ability to connect to the internet, meaning another device, e.g. a smartphone will be needed to complete the transaction. ''

I don't know how much of that is true and how it works .
I will be receiving mine very soon , within 3-4 days .

Ill post everything .

But theres ways around the requirement for another device if you can sync is like an SPV client before leaving our home. This should be implemented asap since it can remove the requirement of an additional device.

I think if the receiver has internet , the hardbit wallet does not require any connection .
Basically , you scan the payment QR to pay , you put you password to proceed and then you get a QR code , which the receiver then scans to receive the amount hardbit have sent .
I don't know how's that possible but it says :-

'' Hardbit only needs 3 steps: scan the payment request, input password, show your transaction QR to receiver. ''

Also , i think offline payment can also be done .

'' Because Hardbit can work offline, so it can act like bank cards for payment in shops. It enables immediate confirmation because double spending is avoided by changing the transaction broadcaster  from payer to payee. '' .

Its confusing , but it seems , HardBit is a solo unit and will work without any thing else .
The main purpose of HardBit wallet is to eliminate the automatic connection to various channels like internet , wifi , NFC , which leaks the private key . HardBit has no such channels .

I still wonder , how will eventually submit the transaction through a smartphone with internet .

Maybe , it creates a part - private key for the exact amount to be sent , and the receiver the scans that private key and import the amount . If this is the case , then its super cool , as you don't need internet at all to send the payment .

BTC : 1JL5qWRebJ6syr51UjCu7q7SvXyzcGwpLf

https://coinsecure.in | Buy and Sell Bitcoin in India Now !! | coinsecure™ | connecting India to Bitcoin !™
franky1
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May 10, 2014, 10:50:11 PM
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 Because Hardbit can work offline, so it can act like bank cards for payment in shops. It enables immediate confirmation because double spending is avoided by changing the transaction broadcaster  from payer to payee.

can?

why use the word can..

shouldnt it be wrote like:
Because Hardbit works offline, so it acts like bank cards for payment in shops. It enables immediate confirmation because double spending is avoided by changing the transaction broadcaster  from payer to payee.

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
JamesSchofield
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May 10, 2014, 11:42:30 PM
 #15

Well i for one would love a reliable trustworthy hardware wallet.
emkay47
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May 11, 2014, 12:05:26 AM
 #16

Because Hardbit can work offline, so it can act like bank cards for payment in shops. It enables immediate confirmation because double spending is avoided by changing the transaction broadcaster  from payer to payee.

can?

why use the word can..

shouldnt it be wrote like:
Because Hardbit works offline, so it acts like bank cards for payment in shops. It enables immediate confirmation because double spending is avoided by changing the transaction broadcaster  from payer to payee.

Its basically Chinese guys trying English . So , these '' can '' errors are acceptable .
Hopefully , It actually does work offline .

BTC : 1JL5qWRebJ6syr51UjCu7q7SvXyzcGwpLf

https://coinsecure.in | Buy and Sell Bitcoin in India Now !! | coinsecure™ | connecting India to Bitcoin !™
cozk
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May 11, 2014, 12:07:43 AM
 #17

I would not trust any device that was not open source. How do we know this cannot be hacked? How do we know that this isn't sending our private keys to the firm?

+1

Open source or gtfo.
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May 11, 2014, 12:15:05 AM
 #18

I have a smartphone for everyday payments.  I look to use this as a storage only device at home so I don't need to carry around tons of btc on me.  Just need more info on security\open source and battery life.  How is it backed up?  Doesn't say...
Aswan
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May 11, 2014, 08:11:32 AM
 #19

Quote
A Bitcoin transaction operated on Hardbit only needs 3 steps: scan the payment request, input password, show your transaction QR to receiver. This is not complex compared to software wallet on smartphone, and is more convienent compared to software wallets on computers.

Wait how does the device get the outputs that are used as input? On the website it says the device is never connected to the internet so how does it get the blockchain or the SPV information?

You need a smart phone with internet to complete the transaction from HardBit .

Do you have any sources for that and is there another option (live feeding it SPV information before you leave home or something like that?). I really have to interest in carrying a tracking device all the time.
Where can I get more information about hardbit?


http://www.dcmagnates.com/physical-bitcoin-wallet-hardbit-launched-in-china-rest-of-the-world-to-follow/

Read where it says :-

'' The device doesn’t have the ability to connect to the internet, meaning another device, e.g. a smartphone will be needed to complete the transaction. ''

I don't know how much of that is true and how it works .
I will be receiving mine very soon , within 3-4 days .

Ill post everything .

But theres ways around the requirement for another device if you can sync is like an SPV client before leaving our home. This should be implemented asap since it can remove the requirement of an additional device.

I think if the receiver has internet , the hardbit wallet does not require any connection .
Basically , you scan the payment QR to pay , you put you password to proceed and then you get a QR code , which the receiver then scans to receive the amount hardbit have sent .
I don't know how's that possible but it says :-

'' Hardbit only needs 3 steps: scan the payment request, input password, show your transaction QR to receiver. ''

Also , i think offline payment can also be done .

'' Because Hardbit can work offline, so it can act like bank cards for payment in shops. It enables immediate confirmation because double spending is avoided by changing the transaction broadcaster  from payer to payee. '' .

Its confusing , but it seems , HardBit is a solo unit and will work without any thing else .
The main purpose of HardBit wallet is to eliminate the automatic connection to various channels like internet , wifi , NFC , which leaks the private key . HardBit has no such channels .

I still wonder , how will eventually submit the transaction through a smartphone with internet .

Maybe , it creates a part - private key for the exact amount to be sent , and the receiver the scans that private key and import the amount . If this is the case , then its super cool , as you don't need internet at all to send the payment .


Maybe you are not familiar with how bitcoin transactions work. A Transaction doesn't just include sending and receiving addresses plus the amounts. If required previous outputs as inputs to be valid. How does the device know about the output of a transaction I received 1 day ago? Is has to somehow get to know it because otherwise it cannot create a transaction.

The way it is explained the transaction also doesn't get created by the merchant (who has the blockchain) because for that you'd have to somehow give the merchant all possible addresses you might be using or a seed for a deterministic address generation. None of these options is not part of the "only needs 3 steps" and it would be a major privacy issue as well.

The only options are feeding it the output information or having the transaction created by another device. However, the latter would require more than the 3 steps for every payment (so it's not used here) and the former isn't mentioned anywhere.

I don't see a way this device can work the way it is explained and I don't think there is one except if it is using a 3rd party payment processor you have to leave your coins with, which would defeat the whole purpose of such a secure device in there first place.

Therefore I am going to consider this as a scam attempt until it is revealed how the user has to feed the device the output information (A part not explained on the website).
If is needs another device like a tracker (Smartphone?) with Internet connection to work properly, I'll consider it a scam as well because it's nowhere mentioned on the website and won't work as advertised with the 3-step-model then.

Looking forward to see if people who ordered actually get one O_o
emkay47
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May 11, 2014, 09:53:44 AM
 #20

Dude are you even serious ?
There are multiple pictures already for this device .
I would not take it as a scam attempt at all .
It might be just another Android device , for sure , but it works.

And the guy who owns this HardBit , Has been developing the code since long back .

I'm damn sure there will be a simple solution to make the payment . Its just not written on their website or stuff .
I'll be receiving them soon .
Will let you know .

BTC : 1JL5qWRebJ6syr51UjCu7q7SvXyzcGwpLf

https://coinsecure.in | Buy and Sell Bitcoin in India Now !! | coinsecure™ | connecting India to Bitcoin !™
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