[XMR] Monero Speculation

[jwinterm]

...
The ledger may incur a second twist, and that is they will most likely be changing the seed word format from 25 to 24 words to match the rest of the wallets they support.  The only concern here is there is a reliable way to either convert these wallets to the 25 word form or somehow else see their seed word format supported by other software (inc. the standard cli and GUI).
...

The 25th word is just a checksum and not actually a part of the seed itself - it's always one of the seed words and is calculated from the seed itself, so I don't think this is an issue at all.

[1714926956]

1714926956

[1714926956]

1714926956

[1714926956]

1714926956

[1714926956]

1714926956

[1714926956]

1714926956

[cAPSLOCK]

...
The ledger may incur a second twist, and that is they will most likely be changing the seed word format from 25 to 24 words to match the rest of the wallets they support.  The only concern here is there is a reliable way to either convert these wallets to the 25 word form or somehow else see their seed word format supported by other software (inc. the standard cli and GUI).
...

The 25th word is just a checksum and not actually a part of the seed itself - it's always one of the seed words and is calculated from the seed itself, so I don't think this is an issue at all.

Then we would still want to know what the checksum word is.  Or to make sure the monero wallets can be restored from only 24 keys.

I agree it is likely trivial, but it will still have to be dealt with.  You have a 24 word seed and you need to get into a standard wallet...

[Cryptock]

For me after these 4 years monero is still a coin with everything to just rise up and never stop, i hope it will be doing so.

[fromholland]

...
The ledger may incur a second twist, and that is they will most likely be changing the seed word format from 25 to 24 words to match the rest of the wallets they support.  The only concern here is there is a reliable way to either convert these wallets to the 25 word form or somehow else see their seed word format supported by other software (inc. the standard cli and GUI).
...

The 25th word is just a checksum and not actually a part of the seed itself - it's always one of the seed words and is calculated from the seed itself, so I don't think this is an issue at all.

forgive my ignorance, but what's that 25 word seed that you're referring to?

[ultegra]

For safekeeping you're probably better off just using paper wallets. Or if paper is too unreliable medium to store information for you, you can use cryptosteel.com

oh they are a thing of beauty, although knowing my clumsy hands i would end up dropping it overboard like i did with my paperwallet

[Hueristic]

For safekeeping you're probably better off just using paper wallets. Or if paper is too unreliable medium to store information for you, you can use cryptosteel.com

oh they are a thing of beauty, although knowing my clumsy hands i would end up dropping it overboard like i did with my paperwallet

Then powder coat or galvanize it so it doesn't corrode to much while your retrieving it from the depths.

[cAPSLOCK]

For safekeeping you're probably better off just using paper wallets. Or if paper is too unreliable medium to store information for you, you can use cryptosteel.com

oh they are a thing of beauty, although knowing my clumsy hands i would end up dropping it overboard like i did with my paperwallet

Then powder coat or galvanize it so it doesn't corrode to much while your retrieving it from the depths.

They are made of stainless steel.  The do not corrode.  They are pretty damn well military grade.  I have one.  Worth it IMHO even though expensive.

[fromholland]

...
The ledger may incur a second twist, and that is they will most likely be changing the seed word format from 25 to 24 words to match the rest of the wallets they support.  The only concern here is there is a reliable way to either convert these wallets to the 25 word form or somehow else see their seed word format supported by other software (inc. the standard cli and GUI).
...

The 25th word is just a checksum and not actually a part of the seed itself - it's always one of the seed words and is calculated from the seed itself, so I don't think this is an issue at all.

forgive my ignorance, but what's that 25 word seed that you're referring to?

My Ledger Nano S has 24 words?

[pönde]

For safekeeping you're probably better off just using paper wallets. Or if paper is too unreliable medium to store information for you, you can use cryptosteel.com

oh they are a thing of beauty, although knowing my clumsy hands i would end up dropping it overboard like i did with my paperwallet

Then powder coat or galvanize it so it doesn't corrode to much while your retrieving it from the depths.

They are made of stainless steel.  The do not corrode.  They are pretty damn well military grade.  I have one.  Worth it IMHO even though expensive.

With cryptosteel there is a risk to open the bolts somehow and to mix the letters.

But if you just buy an ordinary metal stamping tool kit
http://www.ebay.com/bhp/metal-stamping-kit

and hammer the seed to a steel or aluminum plate, there is no such risk. And you can make as many back ups as you want. With very low cost.

[fromholland]

was waiting forever to get back some @ .0272

Another opportunity was there today 

[explorer]

I mean how much risk are you comfortable with 100xmr, 1000, 10?

That is a VERY good question.  


The way I see it currently we have two choices coming:

1.  Ledger:  Established company.  Hardware proven.  Track record of handling security issues well etc.
2.  Monero proprietary wallet.  Based on FOS design, specific to XMR.


I think BOTH devices share a common risk.  And that is you want to make sure there is no way for your funds to be stolen with some sort of attack.  Either on the hardware, or in between the HW and the SW on the computer.  

The ledger may incur a second twist, and that is they will most likely be changing the seed word format from 25 to 24 words to match the rest of the wallets they support.  The only concern here is there is a reliable way to either convert these wallets to the 25 word form or somehow else see their seed word format supported by other software (inc. the standard cli and GUI).

I bought a Ledger, and I have not decided how much I am willing to risk there.

  

I recently bought a Ledger as well - mainly in hopes of moving some xmr over.

However, now I'm leaning towards just putting linux on a usb stick with a wallet there? Is there really that great of a security benefit for ledger vs a wallet on a usb stick? I'm just going to throw both in the fire safe.

A hardware wallet is not just security.  It is convenience with security.  Easily take a large amount with you traveling, and top up your Monerujo as required, without risking large amounts.  Drop it overboard?  Confiscated in customs?  Too bad, buy or retrieve another one, and restore from your seed.  or have several set up with the same seed/pass, cached at strategic locations where you travel frequently.  There are many options.  Decoy wallets installed to mitigate the $5 wrench attack, multiple wallets for different coins, all on the same device/seed (not the Monero only one obviously).  

[cAPSLOCK]

I mean how much risk are you comfortable with 100xmr, 1000, 10?

That is a VERY good question. 


The way I see it currently we have two choices coming:

1.  Ledger:  Established company.  Hardware proven.  Track record of handling security issues well etc.
2.  Monero proprietary wallet.  Based on FOS design, specific to XMR.


I think BOTH devices share a common risk.  And that is you want to make sure there is no way for your funds to be stolen with some sort of attack.  Either on the hardware, or in between the HW and the SW on the computer. 

The ledger may incur a second twist, and that is they will most likely be changing the seed word format from 25 to 24 words to match the rest of the wallets they support.  The only concern here is there is a reliable way to either convert these wallets to the 25 word form or somehow else see their seed word format supported by other software (inc. the standard cli and GUI).

I bought a Ledger, and I have not decided how much I am willing to risk there.

 

I recently bought a Ledger as well - mainly in hopes of moving some xmr over.

However, now I'm leaning towards just putting linux on a usb stick with a wallet there? Is there really that great of a security benefit for ledger vs a wallet on a usb stick? I'm just going to throw both in the fire safe.

A hardware wallet is not just security.  It is convenience with security.  Easily take a large amount with you traveling, and top up your Monerujo as required, without risking large amounts.  Drop it overboard?  Confiscated in customs?  Too bad, buy or retrieve another one, and restore from your seed.  or have several set up with the same seed/pass, cached at strategic locations where you travel frequently.  There are many options.  Decoy wallets installed to mitigate the $5 wrench attack, multiple wallets for different coins, all on the same device/seed (not the Monero only one obviously). 

Yeah.  I am a pretty big fan of the concept.  And while not arguable AS secure is a deep freeze paper wallet it is damn close.  And with the decoys etc in some ways even better.

That said, I do not think it would be impossible to add at least a couple other "big" coins to the Monero wallet, for example at least BTC?

[johnalan]

feeling hurt?
upset?
disgusted?

Nov 5th 2017 we traded at 80bucks


a month and a half later we were at 500usd


the Monero upswing will be violent, I certainly won't be short https://www.youtube.com/watch?v=QIpHuJNod3s.


What's he, fucking deaf?
5x in 1 month


know that.

next question

[explorer]

I mean how much risk are you comfortable with 100xmr, 1000, 10?

That is a VERY good question. 


The way I see it currently we have two choices coming:

1.  Ledger:  Established company.  Hardware proven.  Track record of handling security issues well etc.
2.  Monero proprietary wallet.  Based on FOS design, specific to XMR.


I think BOTH devices share a common risk.  And that is you want to make sure there is no way for your funds to be stolen with some sort of attack.  Either on the hardware, or in between the HW and the SW on the computer. 

The ledger may incur a second twist, and that is they will most likely be changing the seed word format from 25 to 24 words to match the rest of the wallets they support.  The only concern here is there is a reliable way to either convert these wallets to the 25 word form or somehow else see their seed word format supported by other software (inc. the standard cli and GUI).

I bought a Ledger, and I have not decided how much I am willing to risk there.

 

I recently bought a Ledger as well - mainly in hopes of moving some xmr over.

However, now I'm leaning towards just putting linux on a usb stick with a wallet there? Is there really that great of a security benefit for ledger vs a wallet on a usb stick? I'm just going to throw both in the fire safe.

A hardware wallet is not just security.  It is convenience with security.  Easily take a large amount with you traveling, and top up your Monerujo as required, without risking large amounts.  Drop it overboard?  Confiscated in customs?  Too bad, buy or retrieve another one, and restore from your seed.  or have several set up with the same seed/pass, cached at strategic locations where you travel frequently.  There are many options.  Decoy wallets installed to mitigate the $5 wrench attack, multiple wallets for different coins, all on the same device/seed (not the Monero only one obviously). 

Yeah.  I am a pretty big fan of the concept.  And while not arguable AS secure is a deep freeze paper wallet it is damn close.  And with the decoys etc in some ways even better.

That said, I do not think it would be impossible to add at least a couple other "big" coins to the Monero wallet, for example at least BTC?

I expect it would be trivial, as there are several precedents.  Perhaps less relevant as time goes on, however.  Can't remember the last BTC transaction I made without XMR.to    Although I am contemplating an automobile purchase (private sale) using BTC directly, it would be a rare occurrence.

[Shnikes101]

I mean how much risk are you comfortable with 100xmr, 1000, 10?

That is a VERY good question. 


The way I see it currently we have two choices coming:

1.  Ledger:  Established company.  Hardware proven.  Track record of handling security issues well etc.
2.  Monero proprietary wallet.  Based on FOS design, specific to XMR.


I think BOTH devices share a common risk.  And that is you want to make sure there is no way for your funds to be stolen with some sort of attack.  Either on the hardware, or in between the HW and the SW on the computer. 

The ledger may incur a second twist, and that is they will most likely be changing the seed word format from 25 to 24 words to match the rest of the wallets they support.  The only concern here is there is a reliable way to either convert these wallets to the 25 word form or somehow else see their seed word format supported by other software (inc. the standard cli and GUI).

I bought a Ledger, and I have not decided how much I am willing to risk there.

 

I recently bought a Ledger as well - mainly in hopes of moving some xmr over.

However, now I'm leaning towards just putting linux on a usb stick with a wallet there? Is there really that great of a security benefit for ledger vs a wallet on a usb stick? I'm just going to throw both in the fire safe.

A hardware wallet is not just security.  It is convenience with security.  Easily take a large amount with you traveling, and top up your Monerujo as required, without risking large amounts.  Drop it overboard?  Confiscated in customs?  Too bad, buy or retrieve another one, and restore from your seed.  or have several set up with the same seed/pass, cached at strategic locations where you travel frequently.  There are many options.  Decoy wallets installed to mitigate the $5 wrench attack, multiple wallets for different coins, all on the same device/seed (not the Monero only one obviously). 

Yeah.  I am a pretty big fan of the concept.  And while not arguable AS secure is a deep freeze paper wallet it is damn close.  And with the decoys etc in some ways even better.

That said, I do not think it would be impossible to add at least a couple other "big" coins to the Monero wallet, for example at least BTC?

I expect it would be trivial, as there are several precedents.  Perhaps less relevant as time goes on, however.  Can't remember the last BTC transaction I made without XMR.to    Although I am contemplating an automobile purchase (private sale) using BTC directly, it would be a rare occurrence.

Appreciate the discussion. Now y'all have me convinced I need another Ledger 

[aamirsuh]

A long-term investment can be made for XMR. My opinion is this way. I wish I could look at the market with this eye a year ago. I probably would have bought Monero.

[explorer]

Glad I'm not in the UK, but I don't expect it to take them long to copy cat elsewhere.  Grab Grab Grab!

https://www.armstrongeconomics.com/world-news/sovereign-debt-crisis/britains-new-law-unexplained-wealth-orders-targeting-the-rich/

Monero, FTW!

[aerbax]

XMR will have at least 3.5% of BTC's marketcap by February 24th at just after 2pm PST.

You can take that to the bank. (I mean it this time.)

Seasons greetings to one and all.

Still on target.

Still on target?

[Hueristic]

For safekeeping you're probably better off just using paper wallets. Or if paper is too unreliable medium to store information for you, you can use cryptosteel.com

oh they are a thing of beauty, although knowing my clumsy hands i would end up dropping it overboard like i did with my paperwallet

Then powder coat or galvanize it so it doesn't corrode to much while your retrieving it from the depths.

They are made of stainless steel.  The do not corrode.  They are pretty damn well military grade.  I have one.  Worth it IMHO even though expensive.

Nice, then add a tracker!

With cryptosteel there is a risk to open the bolts somehow and to mix the letters.

But if you just buy an ordinary metal stamping tool kit
http://www.ebay.com/bhp/metal-stamping-kit

and hammer the seed to a steel or aluminum plate, there is no such risk. And you can make as many back ups as you want. With very low cost.

Loctite?

was waiting forever to get back some @ .0272

Another opportunity was there today 

Of course it was and when I'm in a position to get m0ar it won't be.

[rangedriver]

Still on target?

Nope. Fundamentals disappointed.

Bearish.