--snip--
Generally, yes. You are definitely right.
But imagine the scenario of a good 'friend' who does want to steal your funds. He probably won't just come to you and force you to give him your money.
This mostly does not only refer to friends, but to anyone who you know personally and who can't risk being recognized by you (legal actions, personal data known, etc.. ).
I don't want to get caught up in the semantics of this discussion, and in theory you are 100% correct. The only thing i can say is that in my personal case (and i hope i represent most average users), i can honestly say i've never created an unencrypted paper wallet, created a hardware wallet without a strong pin, left a desktop wallet unlocked while i was no longer using it, left my seeds just laying about... So i guess somebody that legitimately entered my house would have a rather hard time getting his/her hands on my funds. I guess (in my personal case), the seed phrases would be the weakest link, i'm going to move them to my banksafe pretty soon .Generally, yes. You are definitely right.
But imagine the scenario of a good 'friend' who does want to steal your funds. He probably won't just come to you and force you to give him your money.
This mostly does not only refer to friends, but to anyone who you know personally and who can't risk being recognized by you (legal actions, personal data known, etc.. ).
I think in my personal case, i would fear the $5 wrench attack a lot more than the cleaning lady or one of my neigbors finding my wallet's seeds.
~snip~
- TRUSTED, up-to-date desktop wallets on a CLEAN up-to-date pc => good for small amounts (think: a couple hundred bucks in FIAT value equivalent)
- desktop wallets => good for large amounts
I guess a small mistake has slipped in there.
It should be hardware wallet => good for large amounts instead of desktop wallet, i think ?
yup
Fixed the typo, thanks for the heads up