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about half of these concerns evaporate if you just use a hardware wallet. web3 will almost certainly never achieve its goals if hardware wallet adoption isn't u
by bsamuels 5y ago
about half of these concerns evaporate if you just use a hardware wallet. web3 will almost certainly never achieve its goals if hardware wallet adoption isn't ubiquitous.
if you want to lever criticism, criticize how expensive hardware wallets are and their lack of support.
- whiskyant 5y agoMetamask supports the Ledger hardware wallet. It's about $60 pre-shipping/tax.
- traeregan 5y agoI'll never buy another Ledger product. I got doxxed in their data leak(s): https://www.google.com/search?q=ledger+data+leak https://www.google.com/search?q=ledger+data+leak In hindsight, I should've known better than to use PII at the time of purchase.
- LinuxBender 5y agoweb3 will almost certainly never achieve its goals if hardware wallet adoption isn't ubiquitous. If that is true then web3 may be in trouble. For a very long time people have pushed for hardware devices for MFA and yet most people still use phones if they even have MFA at all. I know people with Yubikeys and other devices because of the circles I have been in but in the wider audience of the internet they are exceedingly rare. So unless it becomes super easy for the masses to have a hardware wallet such as their financial institution issuing one then I am not sure how you realistically get past this problem. That of course puts people back into trusting and depending on their financial institution and its third party providers.
- vmception 5y agoThe money just flows to people with better OPSEC. After they phish the people with bad OPSEC. You might think web3 will be in trouble as people stop showing up, but there are so many other opportunities to make money when the good OPSEC people launder all their money by sending a random token’s price sky high, and cashing out as capital gains from their other already clean money. So that will keep attracting people looking for gains. Many people also do secure their holdings properly, the inconvenience of bothering likely driving scarcity.
- novok 5y agoHardware wallets are basically crypto keys in a smart card with a gui, so crypto hardware wallets are going to eventually migrate to the smart card in everyone's computer (TPM) and mobile phone (secure enclave and equivalents). Webauthn shows what this future will be. Everyone's hardware wallet will eventually just be their mobile phone.
- LinuxBender 5y agoHow would you theoretically back up and revoke that device? stolen, broken phone, compromised phone, etc
- capnorange 5y ago1. Social recovery methods. 2. Even if you use a hardware wallet you still need to backup your seed phrase offline.