I'm sure there were people saying similar things about Mt. Gox... and Bitfinex... and right before all their coins/$$$/data disappeared.
Not everything is the same. You are comparing apple to oranges.
Actually, they can be safer than you... because the hardware wallet gives them the safety of "plausible deniability". You can create "dummy" wallets with "small amounts" of bitcoin... say 1-10% of your total holdings. If someone threatens you, you give them the password to the dummy wallet... they find your coins and think "Job done"... meanwhile your 90-99% of actual holdings are safely stored in a hidden wallet that they can't possible know or prove exists... rendering a $5 wrench attack nullified for a relatively minor cost.
Whereas, with your method, they'll keep hitting until they get the password (or passwords in the case of multiple encryption) that decrypts it correctly.
I came upon that point too when writing my article. I would say you are an intelligent man if you can use my method to do similar dummy wallet. There is nothing to stop you from personal customization when you are 100% in control. Not being able to see that with my method means you are not.
See... I was going to let the "Saying no procedure is 100% safe sounds like speculation to me" slide... but now you're just coming off as a little bit arrogant.
"Saying your procedure is 100% safe sounds like arrogance to me"
"Saying no procedure is 100% safe sounds like speculation to me" means I believe in a way that can give 100% security. And my method is one example.
No, you just used a very public forum like Steemit to declare to the entire world that you use Crypto... and how you choose to store them. Guessing you trust them more than hardware wallet devs/manufacturers too... so I'm sure your IP address is safe when them.
And so when you participate in this forum and all your previous comments that also imply you have crypto. Your dummy wallet may not save you if they know you have a lot more. I wish when I debate with someone, that person would be objective. My method can also do dummy wallet, but unfortunately for you, you can't see how that is possible. 100% direct control of your own private keys is the building block. The only thing that stops you is your level of creativity.
I'm not declaring that hardware wallets are 100% safe, or the only answer to everyone's crypto storage needs... there are still attack vectors that exist (no solution is 100% secure). What they are is safer than using just a software wallet on a desktop PC/tablet/mobile device... and more convenient than locking everything away on paper wallets in secure storage (or triple encrypted, digitally stored private keys)...
But hey, like I said... Horses for courses... you've got a system that works for you, so that's great. Is it "better" than a hardware wallet? A viable alternative sure, but better? I'd say that is somewhat debatable and likely dependent on the use case(s) of a given person...
It was clearly stated for cold storage.
Not everything is the same. You are comparing apple to oranges.
Actually, they can be safer than you... because the hardware wallet gives them the safety of "plausible deniability". You can create "dummy" wallets with "small amounts" of bitcoin... say 1-10% of your total holdings. If someone threatens you, you give them the password to the dummy wallet... they find your coins and think "Job done"... meanwhile your 90-99% of actual holdings are safely stored in a hidden wallet that they can't possible know or prove exists... rendering a $5 wrench attack nullified for a relatively minor cost.
Whereas, with your method, they'll keep hitting until they get the password (or passwords in the case of multiple encryption) that decrypts it correctly.
I came upon that point too when writing my article. I would say you are an intelligent man if you can use my method to do similar dummy wallet. There is nothing to stop you from personal customization when you are 100% in control. Not being able to see that with my method means you are not.
See... I was going to let the "Saying no procedure is 100% safe sounds like speculation to me" slide... but now you're just coming off as a little bit arrogant.
"Saying your procedure is 100% safe sounds like arrogance to me"
"Saying no procedure is 100% safe sounds like speculation to me" means I believe in a way that can give 100% security. And my method is one example.
No, you just used a very public forum like Steemit to declare to the entire world that you use Crypto... and how you choose to store them. Guessing you trust them more than hardware wallet devs/manufacturers too... so I'm sure your IP address is safe when them.
And so when you participate in this forum and all your previous comments that also imply you have crypto. Your dummy wallet may not save you if they know you have a lot more. I wish when I debate with someone, that person would be objective. My method can also do dummy wallet, but unfortunately for you, you can't see how that is possible. 100% direct control of your own private keys is the building block. The only thing that stops you is your level of creativity.
I'm not declaring that hardware wallets are 100% safe, or the only answer to everyone's crypto storage needs... there are still attack vectors that exist (no solution is 100% secure). What they are is safer than using just a software wallet on a desktop PC/tablet/mobile device... and more convenient than locking everything away on paper wallets in secure storage (or triple encrypted, digitally stored private keys)...
But hey, like I said... Horses for courses... you've got a system that works for you, so that's great. Is it "better" than a hardware wallet? A viable alternative sure, but better? I'd say that is somewhat debatable and likely dependent on the use case(s) of a given person...
It was clearly stated for cold storage.