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Board Development & Technical Discussion
Merits 1 from 1 user
Re: Andreas Antonopoulos says to stop using paper wallets, do you agree?
by
dkbit98
on 02/01/2022, 14:20:51 UTC
⭐ Merited by vapourminer (1)
He’s stating paper wallet tech is simply outdated, but I don’t see how?
I saw this video few days ago and I would somehow agree with him that average users, and tiktok generation should better stop using and generating paper wallets because they are obsolete.
There is nothing wrong if you already have some old paper wallet, and you can use it just fine, but it's much better to have option for easy generating of new addresses, that is impossible to do on paper wallets.
If I had to choose between open source hardware wallet and paper wallets, I would always choose hardware wallet option.

Let's counter his arguments: how often has a paper wallet leaked millions of customer addresses? I've seen countless people enter their mnemonic seed into a phishing website. I've seen even more people lose their funds because they left them on an exchange. Paper wallets aren't perfect, but they serve a purpose.
Remember when one of those online website generating paper wallets got compromised, and I think that even you (correct me if I am wrong) had to change recommendations for using that website?
Thousands and maybe millions of people used that website that had a flaw, meaning that information was leaked, and who knows how many people used that website incorrectly while being online.

While a cypherpunk myself; and a fan of fully trusted setups, generating seeds with own entropy and stuff like that, I think Andreas is speaking to the 99% of the crowd who probably aren't even on this forum and would 9 times out of 10 mess up a paper wallet.
Even people on this forum would mess up paper wallets, and I guess people could still ride a horse today if they want, but most of them still opted out for driving a car that is faster.
You could die in some accident using any of this options, but you have airbags and seatbelts in cars so it's more likely you would survive a car crash.
It's similar thing with paper wallets and ''faster'' hardware wallets, but I guess you still have to secure your PAPER/metal backup even for hardware wallets  Cheesy