Quote from: LoyceV on June 05, 2023, 11:24:01 AM

The question is now which government will get to your coins first Wink

But that's not even my biggest concern: what are the odds 2 out of 3 "seed storage facilities" will get hacked, leak data, or have an inside job rob users? If this takes off, there are billions of dollars worth of crypto to steal.

If you are like DeKwon than you can try his tactics of swallowing hardware wallet (or seed phrase) when police comes for you... than you can play the bail game with government Cheesy

Quote from: Pmalek on June 05, 2023, 06:51:38 PM

The one good thing in all this is that Ledger has proven that secure elements are not to be trusted and aren't safe. Not in a Ledger or any other hardware wallet.

That was my point all along since I am following that subject for a while.
Secure element is almost worthless if it is closed source, since they have signed NDA with manufacturer they can do whatever they want and they must cooperate with government parasites.

Quote from: o_e_l_e_o on Today at 07:28:12 AM

With the discussion of 2 out of 3 custodians being compromised, don't forget that this set up has a single point of a failure, and the breach of this single point of failure is enough to steal your coins.

I think this is also a flaw of Shamir Secret Sharing scheme (that ledger is planning to use), that is trying to mimic multisig setup as a poor man choice.
If they used proper Multisig setup maybe single point of failure could be avoided, even with this stupid Recover feature.