Quote from: LoyceV on January 27, 2024, 09:11:14 AM

Quote from: Pmalek on May 28, 2023, 07:22:05 AM

No, not the Ledger Nano S. They aren't selling this model anymore and will eventually drop support for it. The Ledger Nano S Plus will have support for Ledger Recover. So far they haven't mentioned anything about the Ledger Stax.

Could it be the Ledger Nano S actually does what they promised back then? That would mean it's impossible for them to update the firmware to get your seed phrase out, because the hardware doesn't allow it. Maybe I'm too optimistic here, but it could be they were still trying to make a honest product back then, instead of going for maximum profit through subscriptions.

I am not as optimistic as you and I think that the only reason why they didn't update Nano S firmware is that they are afraid of another scandal online, they probably analyzed what happened when they announced Ledger Recover service, so, they probably decided it was better to sacrifice one line of production.

Quote from: LoyceV on January 28, 2024, 09:22:52 AM

Quote from: Pmalek on January 28, 2024, 07:42:30 AM

Trick them into signing up for one year of Ledger Recover, and you made almost as much money as if they purchased two new hardware wallets.

I expect the profit margin for each new subscription to be near 100%. Storing a million seed phrases doesn't have to be more expensive than storing just 1.

Probably the cost of saving one or hundred thousand keys will be the same, so, I expect their profit margins to be way higher than 100% because as the number of customers grow, the profit will increase while loses, i.e. saving costs will be almost the same. But I don't know how their contract with those two 3rd party service providers look like.