Re: Ledger Recovery - Send your (encrypted) recovery phrase to 3rd parties entities
I'd like to know how many people actually fell for Ledger's subscription scheme. It must be enough to be worth wasting their reputation over.
When the service turns one year old, they should release some service statistics and we will find out.
Unless the numbers are too much to disclose.
But, they certainly did some kind of survey to understand whether this service would have subscriptions or not.
If they release statistics, I genuinely believe, they'll release the statistics that will favor this decision of theirs. Just write that hundreds of thousands of people use your subscription service and then a big wave of people will become your customers because they'll start thinking that if so many people use successfully, then this automatically means it's good. Even the dumbest idea can generate money if marketing is good.
The fact is, we will never know the truth, so, for the sake of our safety, it's better to assume that what I said is true. This is just a shady company and everything is expected from them, I still think that they intentionally didn't update the Nano S firmware to make people think that it still actually backs their words and promises.
You're most likely right--but the first thing that popped into my head was that if Ledger went bust because of their idiotic Recover feature, some crypto journalist might do a deep-dive story on their collapse and report their financials (assuming the reporter could get their hands on the data). Then again, 1) Ledger might not even suffer all that much because of this crap, and 2) I'm not sure about the state of journalism in crypto and whether there are any real journos who'd be motivated enough to do a real story on Ledger's demise if it actually came to be. A lot of the stories I've read on sites like Coindesk seem to be puff pieces, and the level of writing is abysmal. But that's true of a lot of news reporting.