Quote from: RickDeckard on June 02, 2023, 08:04:02 PM

Quote from: Synchronice on June 02, 2023, 07:47:27 PM

Quote from: o_e_l_e_o on June 02, 2023, 10:01:27 AM

The solution is simple - avoid any platform which requires KYC.

Life gets very hard if you do so, especially if you actively travel. But probably that's the price of privacy, just wonder how long can one keep living in such a discomfort.

Or you can choose to trust this fake messiah[1] (Ledger CEO). ~ 2 weeks have passed from the announcement of Ledger Recover and he's already going out and giving speeches in keynotes, sharing "his outlook for the future, the UX needed to enable mass adoption, and how crypto can protect our online identity. Thank you for the inspiring words!" They keep preaching about "how can crypto protect their online identity" when, at the same time, they are offering services that will link your own identity to the funds that you currently hold (optional, as always ). Isn't this ironical?

What is even worse is that there are actually some providers that agree with Ledger stance on embracing more users by providing easier entry points[2]:

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For instance, Madar highlighted that one of the biggest challenges associated with cryptocurrency is that it’s too complex for many users. “Specifically, keeping track of your physical device and seed phrase for years is far from trivial for the average person. Every user should be able to back up their keys somewhere,” he said.

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Echoing this, Marvin Janssen, co-founder of hardware wallet provider Ryder, told Cointelegraph that Ledger Recover might appeal to mainstream customers. “It absolutely happens that people, especially those new to Web3, lose access to their wallet because of a faulty or complete lack of a backup. A feature like Ledger Recover can, therefore, definitely help,” he said.

How can anyone agree that, with a simple update, independently or not if I choose to take part of it, my device will have a "dormant" code that could be exploited in the future and thus voiding everything that the product & company stands for? That's madness!

[1]https://nitter.it/thecryptovalley/status/1664691045299376138

[2]https://cointelegraph.com/news/ledger-ceo-says-crypto-key-recovery-service-makes-self-custody-easier

Shower thought. Is it possible that if a user has enabled the recovery feature, and has his/her data "safe-guarded" by a third party, then it's probable that a government entity could issue a written order telling the third party to give them access to then user's coins/savings?

Because I believe the user has given up some of his/her rights upon upload of his/her own data. Don't third parties always have Terms of Agreement that users never read?

Cool