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The problem with your current approach, and software wallets in general (as well as these recoverable wallets) is the private key is retrievable. Which sorta ne
by tekknik 4y ago
The problem with your current approach, and software wallets in general (as well as these recoverable wallets) is the private key is retrievable. Which sorta negates the protections given by having a single owner of the cert (the hardware wallet).
- azinman2 4y agoI’m not terribly worried about that scenario. I haven’t had my 1password breached — lots of bad things could happen if I did. I don’t own enough crypto to make this my biggest concern. I’d rather have a robust system that will hold it without failure, or in Coinbase’s case, bankruptcy.
- tekknik 4y agoThen you have some false sense of security and clearly aren’t holding any real value in this wallet.
- azinman2 4y agoReal value is all relative. It's all about ones personal trade offs. I have more faith in cryptography in a software world with backups than I do in a random hardware device with a maker that's unlikely to last the test of time.
- tekknik 4y agoOh I’m right there with you on hardware wallets, I’m just pointing out that your software based wallets are very vulnerable. The only safe key is one that nobody can retrieve.