Re: Best open source hardware wallets for BTC?

Quote from: Abiky on June 07, 2023, 05:55:18 PM

Quote from: Pmalek on June 06, 2023, 04:04:33 PM

I don't think they are. If Ledger is good at one thing, that's marketing and advertising their products and services. They did a lousy job with the PR for Ledger Recover the first time. I think they will hang back, gather their thoughts, and try again once the storm passes.

We are forgetting that many ideas shared by members of this forum is not what the regular crypto user thinks. The average person isn't going to run their own node, stay clear of centralized exchanges, never submit KYC, or worry too much about privacy-invasive software and services. I don't think they will see the dangers in sharing their seeds with multiple online partners either if you package it and sell it to them in a nice wrapping.

Ledger will probably lose a percentage of their current userbase because people have found out their hardware wallets aren't as safe as they trusted Ledger they would be. In the long run, they might make up for it with new users, like the millions of mothers Roll Eyes

looking to purchase hardware wallets where there is a system in place to correct their mistakes.

I guess you're right. The vast majority of crypto users want convenience on top of privacy/security/decentralization. While Ledger will lose customers because of its recovery service, it won't be much of a big deal compared to the rest of the people who really don't care about anything. For crypto veterans like myself, we would look into other alternatives that respects the true values of crypto/Blockchain tech. I'm glad there are plenty of open source alternatives on the market. This would make crypto stronger in the long run. Would you imagine hardware wallet companies being compromised by the government in the future? If there were no open source wallets, no one would be able to use a hardware wallet without giving away their privacy and freedom. I hope Ledger learns its lesson and decides to abandon plans to launch the recovery service. Maybe it will turn into an open source hardware wallet company in the long run? Roll Eyes

Interesting! Still, I’d argue that the crypto is diverse enough to accommodate a spectrum of user needs and preferences. While I acknowledge the flaws in Ledger's approach, isn't there room for a more varied ecosystem? Crypto veterans like us are likely to prefer open-source, non-custodial wallets for optimal security and control. However, there's a substantial chunk of crypto users who prefer a degree of convenience and user-friendliness, even at the expense of some privacy and control. Isn't the key here diversity? The more significant issue I see here is user education. Many newbies are unaware of the potential privacy risks associated with certain practices. Rather than demonizing Ledger, perhaps our energy should be focused on enlightening these users? Remember, a well-informed user is less likely to fall prey to pitfalls, right?