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Even more likely: what happens if somebody steals the hardware wallet or it gets lost? E.g. It's in a backpack that is left behind. Does the screen display the
by lucaspiller 10y ago
Even more likely: what happens if somebody steals the hardware wallet or it gets lost? E.g. It's in a backpack that is left behind. Does the screen display the private key that you can write down on paper (hopefully correctly) as a backup?
Edit: Apparently on first use the device displays a list of recovery codes which would cover it being lost and the inheritance issue (assuming the manufacturer is still around). I'm a bit concerned the recovery is through a web based tool though:
http://doc.satoshilabs.com/trezor-user/recovery.html http://doc.satoshilabs.com/trezor-user/recovery.html
- runn1ng 10y agoEven if the manufacturer is out of business, you can still access your coins. The algorithm for creating the private key is public (BIP39, BIP32, BIP44), as is the actual firmware source code. The recovery is through a web-based tool, but the order of the words is randomized and displayed only on the device, so even if someone installs a keylogger on your PC, he would need to know the correct order (since it's 24 words, that's safe enough). (Disclaimer: I work for SatoshiLabs, the manufacturer.)
- stale2002 10y agoWhat happens if you lose a briefcase full of cash? Bitcoin is like cash, not like a credit card or bank account.