Quote from: TheQuin on May 24, 2018, 01:10:26 PM

Quote from: Moonbrand on May 24, 2018, 01:04:25 PM

Ok. I understand now.

With that understanding though, I refer back to my point of fraud. What, then would stop someone from selling the wallet to 3 different people where only one will be able to use it?

I would suggest reading through this thread. There's a lot of information from one of the co-owners of the company that makes them.

In short, there is only one physical wallet so how could you physically give it to 3 people?

The hardware wallet is contained in an NFC chip on the card that is encrypted. The balance can be verified using an NFC enabled smartphone. That's why you don't need trust, you can verify the card you have been given is funded.

I'm not saying that the system and technology used is inherently flawed, and I understand the use of the NFC chips, however, taking into account human nature, wouldn't the hardware wallet open up potential avenues for fraud where the fraudulent 'card' or hardware wallet looks legitimate at face-value, and people only realize that they've been defrauded when they go and try to initialize the wallet and it does not work?