Post
Topic
Board Hardware wallets
Merits 2 from 2 users
Re: Ledger Recovery - Send your (encrypted) recovery phrase to 3rd parties entities
by
Pmalek
on 27/05/2023, 07:03:01 UTC
⭐ Merited by Lucius (1) ,vapourminer (1)
Nothing happens by chance, everything is well thought out, and apart from profit, the point is to put as many users of this HW as possible in a position where they can be controlled. Of course, not everyone will accept the new service, some because of the price and KYC, others because they understand how absurd and dangerous it is, but let it not surprise anyone if Ledger turns that service into something mandatory in the future, because their "mothers" and maybe even 200 millions of users are super satisfied and they will ask the company to protect those of us who don't understand it.
There will probably be special price discounts for new users to sign up. Maybe the next Black Friday deal will be a special $1.99/month for the next year for those who enroll. Roll Eyes
This is just the initial money-grab, it will become cheaper with time. At one point, it might even become free.

Btw, who stores the KYC data?
Ledger, because it worked perfectly with other data in the past?
Ledger + the two other companies for triple the risk?
Or a brand new service we don't yet know about?