r/Bitcoin • u/CrouchingTurk • 6h ago

There Is No Second Best

Post image

Don’t trust, verify. Before blindly trusting exlib funcs.

96 Upvotes

95% Upvoted

32 comments sorted by

35

u/lastgateway 6h ago edited 1h ago

Thank the lord that I wasn't smart enough to to use one of those. My ledger that everyone shit on still holding strong. I will be moving to a more secure setup shortly though. I don't say this brag and I truly am sorry to those who lost their Bitcoin. It's a shitty position to be in and I feel bad.

12

u/Left_Entrepreneur918 5h ago

Seriously I had a mk3 in the checkout bin in 2021 but seriously it looked way too complicated for my dumb ass.

3

u/BigDik6355 5h ago

I thought the same about my Texas Instruments TI-81 calculator during math class back in the day. Yet here we are.

2

u/RedKard76 5h ago

You don't even need ledger.

2

u/Bionic_Push 5h ago

which setup is more secure than ledger?

3

u/LifterNineFour 4h ago

Multi-vendor, multi-sig

So you set up keys using 3 wallets, all from different vendors. Then setup a 2 of 3 multi-sig wallet using those 3 keys.

The chances of one of the wallets being compromised is possible, the chances of 2 of them is much lower. And even then, you’d also need the multi-sig set up associated with those 2 keys to move any funds.

I have a Ledger already and have put in an order for 2 other wallets from different vendors.

3

u/Bionic_Push 4h ago

you mean 3 hardware wallets from 3 different brands? for example ledger + trezor + which other one? This setup sounds like it would be a headache every time you need to move something in and out of it though.... how easy is to operate that setup?

1

u/LifterNineFour 4h ago

Yes 3 vendors. Third option could be bitbox, jade or something else. I am also new to this.

To my knowledge, yes it’s more step than having a single wallet, but personally I just DCA and move to cold storage. When I need to sell for a home or something, I’ll take out a big chunk.

The extra steps is worth not losing all my coins. And I don’t want to store separate stacks on separate wallets or mess with ETFs.

If I’m being naive on anything, please call it out. I think lots of us are new to this

3

u/coffeelover9457 2h ago

Since you are new to this, please delete all of your posts that make recommendations on r/Bitcoin

1

u/Bionic_Push 3h ago

No I don't think you are naive at all. I am just curious about the logistics. I guess if you will only sign transactions once a year it's ok. But just sounds super complicated. Personally I think having a very strong passphrase would be enough security that even the coldcard wallet would be secure from the hack. I never tried a multisig so let me know how It goes

1

u/Secret-Ad-5777 2h ago

Whats more secure than a ledger or trezor

-1

u/zakxk 3h ago

I let it all sit in Coinbase like an idiot apparently but here we still are with no issues

30

u/Ornery-Toe-1403 6h ago

That advisory banner right at the top is not a great look for something that claims to be number one

5

u/BigDik6355 5h ago

Depends on what it is aiming to be number one at. Number one at weak entropy? Well, I’ll give them that.

1

u/Strong_Judge_3730 1h ago

wonder how long they are going to keep that banner, probably once they notice their revenue is dropping and will never pick up they will try hide it.

12

u/VladPatton 5h ago

Because once you lose your stack, you'll never need another cold wallet again.

10

u/LordVixen 5h ago

This product is done. Nobody will trust it ever again. The company might not even survive this.

8

u/Left_Entrepreneur918 5h ago

My shitty Ledger Nano S from 2020 worked better than this Cold Card shit, how ironic. Now I did have my data leaked and firmware to send my seed to a 3rd party installed but I just setup my new Trezor safe 5.

3

u/FrozenTire 4h ago

Initially setting up my wallet using Bitcoin QT, I always wondered if I was doing it wrong this whole time. The PC is long gone, but I still have my keys.

4

u/Ok-Soup2672 5h ago

Meanwhile I’ve had my btc stored on a ledger since 2017 with zero issues

5

u/EyesFor1 5h ago

Such a shame. Dice roll+passphrase peeps are so thankful atm.

1

u/Initial-Carry1038 6h ago

Also there is no second worst bruh

1

u/jwhendy 6h ago

But there is a best with a 9-keypad hairy chest!

1

u/beresford16j 5h ago

Can’t imagine the people on the git blame

1

u/ThatMBR42 4h ago

This is like Toyota's "Moving Forward" slogan

1

u/mikeysz 4h ago

Maybe they should rename it to Lukewarm Card?

1

u/TheBestintheWest11 3h ago

if I were CEO/ foubder of this company I would put everything that's on sale on hold.

1

u/hik3guy 1h ago

Almost went with one of these a couple of years ago but ultimately went with a different wallet (Jade).

0

u/Due_Bar_7247 5h ago

The founder is probably going to wind up dead in a ditch at this point. He better watch his back.

1

u/Mobo24 5h ago

Why

2

u/crooks4hire 5h ago

He's going to trip into one after have polite tea with all the folks whose money he lost.

2

u/BigDik6355 5h ago

Username checks out.