KEYS

Realistic-Jelly8133

If you are choosing a multisig setup, you probably have a significant amount of Bitcoin that would be catastrophic to lose. If that's the case, invest in your security and just order the 3rd hardware wallet. You are complicating your setup and risking a lot by wiping one of the private keys to rely on the seed phrase alone. If you do decide to do a multisig setup, you absolutely must know what you are doing since there are some extra steps that could result in loss of Bitcoin. The most important one is: YOU MUST SAVE THE XPUBS OF ALL THE KEYS AND STORE THEM IN MULTIPLE LOCATIONS. Having a quorum of private keys is not enough to sign a valid Bitcoin transaction. You need the xpubs of ALL the keys. Sparrow or electrum does this under the hood for you, but if you need to restore the wallet, you will need ALL the xpubs to restore it

ProgrammerNo4662

ALWAYS REMEMBER, NOT YOUR KEYS, NOT YOUR COINS! NO ONE EXCHANGE OR ETF IS COMPLETELY SAFE, DO YOUR OWN CUSTODY IN COLD STORAGE SOLUTIONS! WITHDRAWAL YOUR COINS FROM DEX/CEX's

anonymous_sentinelae

That's only the absolutely most important very first thing you MUST do when creating a wallet:  GET. THE. FREAKING. KEYS.  > > > NO KEYS, NO COINS! < < < That's not something you ask for in a later point in life when you have no access to your coins anymore. The only answer to your question is: Refer to your keys backup.

Fickle_Discipline846

Hide the KEYS! 🤣🤪

JoeYo743

No. NOT YOUR KEYS NOT YOUR CRYPTO

JoeYo743

NOT YOUR KEYS NOT YOUR COINS. I would rather shove a cold wallet up my dog's ass and have him hold it than leave my precious coins in the hands of Coinbase

EndSmugnorance

NOT YOUR KEYS, NOT YOUR COINS! Feels like 2017 again!

DwightKSchnute

All these NOT YOUR KEYS NOT YOUR COINS comments and yet people are getting hacked left and right with Metamask🧐it’s a goddamn miracle if anyone is able to cash out with their gains this bullrun

Arnolds_Left_Bicep

1. Take your time, don’t stress too much, this is how you might make mistakes. 2. Don’t trust anyone whatsoever, do your own research, understand how this works more thoroughly. It doesn’t matter if you eventually get the access you need today or in 3 days or in 2 weeks. Result is the same. Best be safe and calm. 3. Try to find a verified, trusted expert preferably from an established and trusted source/company/organization. Offer them a specific payment if they can help you out, not 12BTC that’s insane, more like 0.5 BTC or something max which is still an absurd amount. I would personally just offer a nice dollar amount instead like $5000 or something to incentivize. DO NOT GIVE THEN ACCESS OR SHARE ANY KEYS. You want someone who will help you remotely and just instruct you what to do, not do it for you. Don’t meet up or share your personal information or location. 4. You’ve already made backups which is great. Double check them and just make sure you feel very secure in the integrity of your backups just in case anything goes wrong. Lastly I think it doesn’t have to be said again but I’ll say it anyway- do not trust anyone here on Reddit or elsewhere and for gods sake don’t even read a single DM.

SadGuru-

**WHAT IS BITCOIN -** https://youtu.be/IQHLpdWvyK4?si=TlPHlAR69AaJ9qDB In simple terms - https://youtu.be/41JCpzvnn_0?si=xf6OKidct1gx47iU **BITCOIN MINING -** https://youtu.be/BODyqM-V71E?si=pICeVFnLQ8NB1FDS **BITCOIN HALVING -** https://youtu.be/Ye9ckbN_lqc?si=T1V3w0FjdD_XbAox https://youtu.be/rT3szqSykVU?si=KYRvRAmiOw29YOsu https://youtu.be/OVCIhBEqgNE?si=BM3KXb425vZcnOAl **WHY BITCOIN AND WHY NOT ALTCOINS -** https://youtu.be/dO486Gfw9ds?si=CnMO6QVMHukuyGZV **NOT YOUR KEYS, NOT YOUR SATS -** https://youtu.be/opCOevmJAko?si=639clpoZ5EZTpPtf **HOW TO SELF CUSTODY -** https://youtu.be/z3n1uZrNvXo?si=_hJnOWFwQMuOu89K **STORE AND USE BITCOIN -** https://youtube.com/playlist?list=PLPQwGV1aLnTtAmzmz6uVE0kTKXtaGX1zY&si=J4hbumJ1uWWwkNwQ **BITCOIN TRANSACTION FEES -** https://youtu.be/GN6PmCqFikw?si=DQomg4JmDvPBt6Xw **CAN BITCOIN BE HACKED/BANNED -** https://youtu.be/AdqGXeCmit4?si=7P3e6xxN7SvLAPim **51% ATTACK -** https://youtu.be/ncPyMUfNyVM?si=cYz22NYhmh5JykY5 **OTHER RESOURCES -** https://youtu.be/5JDrK7sP3gA?si=yZ6OU5hhK4yf7Fer https://youtu.be/MMPxSdT013M?si=7DXQA5T2Cy0dbJ6p https://youtu.be/_0NOJhTy4MQ?si=s5sfLQUuCo7b9Ghe https://youtu.be/Vfq7LNDCdNQ?si=aq5Vn7Gu0zoD-qk6 https://cointelegraph.com/news/bitcoin-only-buy-and-hold-investment-strategy-outperforms-altcoins-over-the-long-term-analysis-shows https://blockworks.co/news/can-blockchains-beat-bitcoin-security https://bitcoin.org/bitcoin.pdf The Bitcoin Standard: The Decentralized Alternative to Central Banking (Book)

Timely-Opportunity-5

What were we saying? NOT YOUR KEYS - NOT YOUR COINS

fverdeja

A great reminder to not trade and HOLD YOUR FUCKING KEYS!

TheCryptoAccountant1

Stay humble, stack sats, NOT YOUR KEYS !!!

veganbitcoiner420

no bitcoin maximalist will ever say holding your keys with anyone is smart because every true bitcoin maximalist knows: NOT YOUR KEYS NOT YOUR COINS if you give your bitcoin to swan there is no proof they have it. if swan collapses your bitcoin is gone. withdraw your bitcoin to a self custody wallet.

joemamma2

The issue is not who is a whole coiner but more, how many "think" their stacking SATs and are whole coiners when they leave it on an exchange. NOT YOUR KEYS, NOT YOUR COINS! You will never be a real owner unless you have a private key which actually validates your SATs. You'll never be able to do that unless you self custody

JoeYo743

NOT YOUR KEYS NOT YOUR CRYPTO. What you own is shares in the United States public stock market in a company that represents holding Bitcoin. Each are unique functions, definitely not the same as holding and owning Bitcoin. Sending it from one wallet to the other. Paying for services with it. Using it for smart contracts. Etc...

Old-Cardiologist-545

You should DCA (dollar cost average) your money into bitcoin. I would recommend to buy as much as you can as soon as possible because it’s like a gold mine right now but as soon as the halving comes I. April it’s gonna go nuts and you would’ve wished you’d bought more. If I was you I’d probably invest every week/fortnight. Just make sure to take custody… NOT YOUR KEYS NOT YOUR COINS (don’t use exchanges… remember FTX for instance). Stay safe out there and good luck on your journey to financial freedom.

KindlyPlatypus1717

I don't know why I'm getting downvoted... oh wait, I do, its the globalists cronies doing it and/or the brainwashed sheep defending the mainstream. To give some value, I'm telling you to OWN YOUR KEYS AND PUT YOUR SHIT IN OFFLINE WALLETS. Thank me later or keep living in denial.

Base-Salty

You say you’re afraid of self-custody, but did you see on the prospectus that they do not have to return your funds if there are any changes in laws or regulation? Not a non-zero chance, and definitely something I wouldn’t be comfortable with if I threw in 100% of my savings. NOT YOUR KEYS, NOT YOUR COINS.

YoAmoAlAmerica

You have “some exposure” to the asset. But NOT YOUR KEYS = NOT YOUR COINS 🤦🏻🤷🏻‍♂️ 🤣🫵🏼 nocoiner

bullett007

Check out Atomic.Finance, you control your KEYS and your RISK. They use DLCs to buy Options, should your position exceed strike price at expiry you yield sats. If it doesn’t, you lose sats. There’s more to it than that’s but that’s the basic gist of it.

Admiral_Narcissus

No, you need to keep it on pad of legal paper labeled BITCOIN KEYS in a mouse infested house on a particle board book shelf next to your high school bowling trophies.

RiceDogo

He wrecked just like the turds who refuse to purchase a cold wallet or find it difficult to just keep the phrases. NOT YOUR KEYS, NOT YOUR COINS

clue5tick

Looks like Coinbase or their assigns will HOLD THE KEYS. We'll have to wait until governmental approval to find out.

Shamgar65

I moved everything off exchanges and I feel so stress free about all this news. NOT YOUR KEYS NOT YOUR COINS!

SkyJebus

This is a shit take, if that's the case, did you plugin your hardware wallet to set it up? HOT WALLET = KEYS ON PC = STOLEN CRYPTO ... USER STUPUD!

DrySeaweed4897

REPEAT REPEAT REPEAT: “NOT YOUR KEYS NOT YOUR COINS” learn from other people’s and our own mistakes!

USBANKLESS

For the people in the back. NOT YOUR KEYS NOT YOUR BITCOIN

ClearSnakewood

Oversimplification blablabla… NOT YOUR KEYS, NOT YOUR BITCOIN! Burn it in your brain or get REKT. MANY have gotten their rectum ripped apart by disobeying this rule … You’re just next in line.

BraidRuner

[KEYS.LOL](www.Keys.lol) did it first and did it best.

NYKNYb

Unchained KYCs newbies and sets them up with a multisig wallet. When they go out of business, I hope the poor sods know how to operate this complicated setup by themselves. By the way, multisig is unsafe and absolutely not suited to newbies. If you lose the XPUB and only have 2 of 3 you are SCREWED. You need ALL THE KEYS that were used to create the wallet to recreate the XPUB. It really cracks me up that Odell and other "OJs" shill this KYCed service 🤡🤡

JustinPooDough

God people on here are naïve as hell. Yes, you can easily prevent the government from taking your bitcoin from you. That being said, the U.S government can just lock you in a cell where you'll have years to bang your head on the wall, repeatedly yelling "MY KEYS MY COINS! MY KEYS MY COIIIIIIINNSSS!!!". Here is a relevant story: [https://www.cbsnews.com/news/treasure-hunter-tommy-thompson-jail-6-years-gold-coins-hearing-ingot-auctioned/#:\~:text=U.S.%20marshals%20tracked%20him%20down,the%20gold%20coins%20is%20resolved](https://www.cbsnews.com/news/treasure-hunter-tommy-thompson-jail-6-years-gold-coins-hearing-ingot-auctioned/#:~:text=U.S.%20marshals%20tracked%20him%20down,the%20gold%20coins%20is%20resolved). So yes, you can keep your Bitcoin... as long as you are Ok with shacking up in a cell with Bubba the Butt Blaster™. Until FrankenBiden gets what he wants.

Bruno_Alejandro

You have never experienced the fear of not been able to take your coins out of the exchange, don't you? You can say whatever you want but exchanges denied coins to customers all the time, specially if the rules/laws change or they get hacked (happens alot) , they can easily take everything from you... You are not a target for hackers, exchanges are... maybe a scamer but that would be on you if you get fool. Follow the community guidelines on how to keep your private keys save and remember NOT YOUR KEYS, NOT YOUR CRYPTO!!!

Jon1323

Not your KEYS, not your CRYPTO.. Nough said!!!

Amber_Sam

Are you happy to give your bitcoin to someone else? I can promise 20% or 30% if 20% isn't enough. How about 50% per year? Sounds great? Send me all your sats. **NOT YOUR KEYS, NOT YOUR CHEESE**.

ROBINHOODEATADIK

I also feel bad for those who trusted FTX with their funds ( tho there’s that mantra we all should remember … NOT YOUR KEYS NOT YOUR COINS ) but let’s not forget how many others lost money due to the ‘contagion’ that spread after the FTX debacle ..!!! The FUD … the sell offs … the fact it gives Gensler more leverage to attack the sphere …. SBF FKD many more than just the clients at FTX and I hope that fat prick Roy’s in prison with the lonely cell mate giving him the same treatment he gave the entire crypto sphere

necroscope0

You don't though. If you did have the keys you would not need Binance to LET you move YOUR Bitcoin. I will say it slow since you are not getting what everyone is saying. YOU DON'T HAVE ALL YOUR KEYS IF YOU CAN NOT MOVE THAT SHIT BY YOURSELF

Main_Departure_5841

Dude what are you talking about I HAVE LITTERLY ALL THE KEYS PASSWORDS AND 2fa and still they dont let me withrawal !!! I am out of hope

SetoXlll

Once again in all caps! NOT YOUR KEYS NOT YOUR CHEESE! Wake the fuck up people!

HornetsnHomebrew

Say it with me: NOT YOUR KEYS. . .

emyfsh201

I just read that PayPal can FREEZE your account and can also wipe assets. This is a very dangerous precedent and is against everything that crypto stands for. Imagine having your funds wiped out because someone at the admin felt so. NOT YOUR KEYS, NOT YOUR COIN.

SetoXlll

So many noobs don’t understand, NOT YOUR KEYS NOT YOUR CRYPTO!

samzi87

You are not shouting it loud enough: NOT YOUR KEYS, NOT YOUR CRYPTO! Seriously tho, it baffles me when I read from people here that are into crypto for years and finally just now bought a hardware wallet. FTX should have delivered the message pretty clearly, take your crypto off exchanges, you never know if your stuff is even backed by real funds behind it as long as you leave it there.

100not_Satoshi

Someone say the phrase: **NOT YOUR KEYS...**

loksfox

I would advise you to buy a trezor, there was an update to ledger where it introduced the ability to decrypt your seed, THEY HAVE YOUR KEYS. I don't think management at Ledger fully grasp what they've done. They've destroyed their credibility. The entire point of a hardware wallet is that the device locks keys in it, with no way for anyone on the outside to extract them.

jaydub1376

Always makes me chuckle as someone who in real life CAN NEVER FIND MY DAMN KEYS!!!!

Backwood20

Nothing.. what is lost is lost. SAVE YOUR PRIVATE KEYS!

EveliaAvila

>Were they using their FTX account as a wallet instead of something like metamask? Because many people still think their money is safe and they own their coins when they leave it at an exchange, which couldnt be more wrong. These are the people that lose their money and learn the HARD way, NOT YOUR KEYS NOT YOUR COINS.

poor_doc_pure

If you can afford it a cold wallet is the way to go. You can write down on paper your private key the words of your wallet and just keep them in a safe place that you only know about not your wife not your kids not anyone else only you The most well known wallet for BITCOIN ONLY is electrum it's free and open source. https://electrum.org/ As long as the coins remain on the exchange they are never truly yours, it's kind of an IOU, as long as things don't get turbulent and you have provided kyc for your account The exchange will be able to give you your money but as long as your coins remain on the exchange they are never truly yours. Check out this video to find out why self custody is important. NOT YOUR KEYS NOT YOUR COINS https://youtu.be/AcrEEnDLm58?si=sVudxU68HLf1F3ky

UhhhmWut

Friend… that word “Trust” is what got us here. To forego Bitcoin’s properties for a paper receipt for BTC price exposure (at a fee, no less) is to miss the point entirely. HOLD YOUR OWN KEYS.

Kelinya

As always, with custodial wallets: "NOT YOUR KEYS, NOT YOUR COINS!"

LatinumGirlOnRisa

if it's true, if he's not a scammer himself who's been playing the long game [because, he might have fans/a following/defenders but how was it confirmed he really lost 50k worth of crypto?? because that is a COMMON scam as well because grifters know there's always a segment of the community who will believevthem..ALWAYS.. and many grifters are *very* convincing over the long term & they also know how to create convincing files to make it LOOK like funds went out so their defenders can have 'proof.' some of them have also done this repeatedly, even without changing their public name..but definitely there are name changers, too but who don't actually always change their appearance! and that guy, he's supposed to be an *experienced* crypto influencer?? and no doubt he DOES have defenders, believers who will donate to his cause which scammers count on. because there are always such people who are not careful, are susceptible to the cult mentality and they will always *lose their minds* whenever there are even reasonable concerns about their favorite coin or influencer.😐 but otherwise?? that kind of cautionary tale is EXACTLY WHY the SECURITY STANDARD IS to NEVER STORE YOUR SEEDS, PRIVATE KEYS in DIGITAL/ELECTRONIC FORM ever!!🙄 but this guy did exactly that?

mad_king_soup

It’s also easier for the ETF to collapse and take your money with it. NOT YOUR KEYS

EdgeLord19941

Meanwhile those people: WHERE THE HELL ARE THE KEYS

IForgetHowToRead

Oh definitely! I suppose BRICKs are ahead of the game there. Perhaps Team Fortress 2 could have $KEYS for example, based around their own terminology.

igadjeed

Bitcoin ETF is a dead end, just another pointless sidetrack labeled **NOT YOUR KEYS** The price of Bitcoin is not important

kirtash93

I can't say it louder. NOT YOUR KEYS, NOT YOUR COINS.

Plane-Ad9634

@OP: Found the other post from two days ago where someone claims that he lost 30k on Binance due to a leaked READ-ONLY (!) api key. Something super fishy is going on here. This should be posted in r/Binance https://www.reddit.com/r/CryptoCurrency/comments/15lpcf3/i_was_hacked_on_binance_yesreedsy_and_they_stole/?utm_source=share&utm_medium=ios_app&utm_name=ioscss&utm_content=2&utm_term=1 @ALL DELETE YOUR BINANCE API KEYS IMMEDIATELY, EVEN IF THEY ARE READ ONLY! Cointracker has been hacked and for whatever reason hackers seem to be able to use those read only (!) api keys to trade shitcoins in your account, scoop them up with bots and make you want to buy a rope. Fuck Binance as a read only API key should not be able to make trades. There MUST be an additional security flaw at Binance side, there is no other explanation: Again, a leaked read only api key should be relatively harmless, it can be used to extract account data but it should never be able to do ANY write/change/trade action. R.I.P. Binance.

Cheese6260

NOT YOUR KEYS NOT YOUR CRYPTO. It is worth the 30 minutes of in depth reading it takes to learn how to store your keys on a hard wallet IMO

Terra_Goose

In a strange way I agree that this kind of „peer review process“ is better than ripping the private keys out honest people….NEVER SHARE THE SEED/KEYS

MiceAreTiny

Which side would the intermediary be on? Yours, or that of a big institution that lends loads of accounts through the service of the intermediary that receives a decent fee for releasing the keys to accounts which the big institution considers 'default'. They are also the ones setting up the contracts. If you have a 1 of the 3 keys in the 2/3 multisig, then YOU DO NOT HAVE ACCESS TO YOUR KEYS, and even more, other parties have full access without your consent.

The_Materialist

1. Read The Bitcoin standard 2. If you have to ask if its a scam: yes, its a scam 3. NOT YOUR KEYS NOT YOUR BITCOIN 4. Nothing is the next bitcoin, there is Bitcoin and there are shitcoins 5. Do your own research 6. Never leave Bitcoin on exchanges (see 3) 7. Never speak about your stack 8. Always keep your seedphrase safe, your seedphrase is your bitcoin 9. Orange pill as many friends and family as you can 10. HODL

G58989

This year I’ve seen more scammers than ever, as stated before NOT YOUR KEYS NOT YOUR WALLET. be safe fellow farmers and be smart

kirtash93

I can't scream it louder. # NOT YOUR KEYS, NOT YOUR COINS

G58989

NOT YOUR KEYS, NOT YOUR WALLET. I don’t k ow how many times we can say this lol

G58989

All I can think about when I hear news like this is the episode of SpongeBob “ how many times do we have to tell you old man” about how if it’s not your keys it’s not your wallet. So once more, IF ITS NOT YOUR KEYS ITS NOT YOUR WALLET.

simplicity92

You guys know about the coin app? You either walk, cycle or drive to "mine" the coins. Then you cam covert those coins to XYO and send it to TRUST WALLET. I lost about 20k of them after not logging in for 1.5years. So yeah. It sucks. NOT YOUR KEYS, NOT YOUR CRYPTO. Anyway, there are some benefits to keeping them in an exchange too. It really depends. Just wish the FTX shit wont happen again

kirtash93

I can't say it louder. # NOT YOUR KEYS, NOT YOUR COINS

SetoXlll

Lets hear it again "NOT YOUR KEYS NOT YOUR FUCKING CHEESE BRAHHHHHHH"

jps_

What if whoever is running your pool is a husband and wife. What if they divorce, and it's bitter. And one of them decides to burn it all down, and deliberately causes the pool to be slashed. Or what if a disgruntled employee who had root access on the server decides to be malicious. Or what if someone identifies an exploit that will result in a slashing, but they make more than 32 ETH either through the exploit or by external leverage (for example, screwing over an MEV bot with an equivocation... we already saw an example)... Or... The point is that your stake is "at stake", while someone might have "nothing at stake". You can invent innumerable ways this can happen. But hey... on the other side is 5% p/a. It's really up to you. Personally, I wouldn't touch a staking pool with a ten foot pole. Because NOT YOUR KEYS, NOT YOUR CRYPTO.

Pristine_Spinach8718

For the people in the back: NOT YOUR KEYS, NOT YOUR CRYPTO.

kirtash93

I can only scream... # NOT YOUR KEYS, NOT YOUR COINS

StrangeInsight

From my math, **5 or 6 lifetimes.** **DCA** and look away. **DYOR**, and **be sceptical** of everything. **Nobody** will give you crypto if you send them crypto first Nobody went broke **taking profits** Fall **in love** with new projects -- don't be **blinded w/hype** **NOT YOUR KEYS, NOT YOUR CRYPTO**

Alone-Hospital-6028

First and formost, you are now in charge of your own finances. There is litterally nothing backing you in terms of recovery. Second, invest in a cold wallet. No coinbase wallet or a "wallet" offered by traditional institutions. Third, "NOT YOUR KEYS, NOT YOUR CRYPTO". NEVER GIVE UP YOUR SECRET PHRASE. If you lose it, you loose EVERYTHING! No one can help you.

TheCryptoAccountant1

No change except my 16.5% 401k Match will go to MSTR and the ETF. NOT YO KEYS NOT YO CHEESE !

uchuskies08

This thread is so clueless but emblematic of how dumb the crypto community is. Yes, it does mean that adoption is far away. Keeping your crypto secure is an arcane process for the average person. Hell, it's not easy for the average crypto user. You bring up elderly people being scammed, COULD YOU IMAGINE HOW BAD THEY WOULD BE SCAMMED IF THEY HAD PRIVATE KEYS??? lol come on man. You guys are so fucking clueless. It is not this easy to lose $700K any other way.

aliyas192000

I’m not sure many understand this ( BlackRock, Fidelity, Arc. Invesco, etc..). All have to buy physical Bitcoin to back up their ETF this will need to be done soon to have their fund qualify Can you all not see the urgency or am I completely demented… The Bitcoin ETF is amazing for liquidity, but a Bitcoin ETF isn’t the same as owning coins. As the saying goes, “NOT TOUR KEYS = NOT TOUR COINS”

kirtash93

Also, it has never been their users money/coins. As we say and I am not going to get bored of screaming it: # NOT YOUR KEYS, NOT YOUR COINS

kirtash93

I will never get tired of screaming it: # NOT YOUR KEYS, NOT YOUR COINS

Fit_Letterhead_4434

Look all of the middlemen and counterparty risk needs to be removed from the cryptosphere. No more surrendering your coins and keys to a third party chasing paltry yield. "NOT YOUR KEYS NOT YOUR COINS. We need to get rid of this centralized shit and get back to why crypto was invented, Censorship Resistance and Counterparty Risk from lending platforms and centralized exchanges. That's why Pulsechain, Pulsex and Hex were invented as the only truly decentralized Ecosystem in crypto and you can become a part of it at depressed prices. Transaction fees are as low .03 cents, that's right .03 cents instead of 100.00 on Etherium. Take control of your own future, don't trade and DCA now which is the best time while FUD is at a peak. As Warren Buffet says "be fearful when others are greedy and greedy when others are fearful" and that is now.

FoxOnShrooms

I don’t want to be seen as a shiller but cdc promote self custody, i moved my coins out if binance long time ago, I’m using the app and exchange for the daily needs, the rest are in a safe wallet, Craig doesn’t like that but that’s MY KEYS.

kirtash93

Repetitive but a must. # NOT YOUR KEYS, NOT YOUR COINS

Popular_Worry_9294

Can’t sweat it enough but NOT YOUR KEYS, NOT YOUR HOUSE! Take note of this people!

Popular_Worry_9294

Can’t sweat it enough but NOT YOUR KEYS, NOT YOUR HOUSE! Take note of situations like these people!

Chemical-Theory-9938

🤣🤣🤣🤣 only for fools….. NOT YOUR KEYS NOT YOUR COINS ! 💀

General_Kai28

Well that's the golden sentence: NOT YOUR KEYS NOT YOUR COINS

tom-dixon

You and everyone who upvoted your comment is missing a very important detail. **THE HARDWARE CAN GIVE YOUR KEYS OUT**. For a hardware wallet that should be impossible. That's the entire purpose of a hardware wallet. Who gives a shit what the software does. It can be hacked, it can have bugs, the authorities can mess with it, but **IT'S THE HARDWARE THAT KEEPS YOUR KEYS SAFE**. But as it turns out the hardware was never safe in the first place. That's the issue, not some software updates.

CryptoIsThePlan

Remember people NOT YOUR KEYS NOT YOUR CRYPTO. Take this as a reminder to move your crypto off CEXs.

Emperors_Colorwheel

In a txt file "BITCOIN KEYS - IMPORTANT" on my google drive. Also on my t-shirt. Also tattoed on my forehead

WimbleWimble

Step 1. we are totally secure step 2. we "could" extract a users keys step 3. a 'rogue' engineer has extracted thousands of customer keys step 4. CEO resigns to go and live on an exotic beach *somehow* basically Ledger is and should be a dead company. Oh yeah DO NOT SEND YOUR HARDWARE KEYS BACK FOR A REFUND Data can be undeleted and Ledger 100% can then steal your crypto

TheOneWhoPosts69

Man, you still don't understand that you cannot OPT OUT OF A FUCKING HARDWARE CAPABILITY THAT YOU DON'T WANT TO HAVE AND THAT THEY LIED TO YOU BY SAYING THAT THE WALLET CANNOT EXPORT THE KEYS (ENCRYPTED OR NOT) NO MATTER HOW MANY FIRMWARE UPDATES YOU DO. This is a fukin hot wallet, being sold as a cold wallet, THAT'S THE PROBLEM. Fuck man, just think.

LexxM3

It’s kind of incredible that anyone including Ledger still thinks this issue is about the firmware update or the backup feature. Once and for all, the real issue REVEALED by this firmware/feature announcement is that YOUR PRIVATE KEYS (or equivalent) ARE EXTRACTABLE BY SOFTWARE from your Ledger, which was expected/assumed/marketed-by-Ledger to not be possible. As that now stands, Ledger now suddenly fails the definition of a “cold wallet” and that’s not just an oopsie, it’s fundamental to the user requirement.

chibi-totoro

You're missing the point. Keys should not be able to leave the device. Full stop. It's the point of a hardware wallet. The fact that they now have a service which can retrieve the keys from the device, means THAT THE KEYS CAN LEAVE THE DEVICE. Meaning someone can design a hack to retrieve the keys from the device. Meaning that it's no longer any different from a software wallet. Meaning that a lot of people are mad they paid money for a hardware wallet.

Bkokane

It’s not mentioned anywhere that it is possible. All they said was “there’s a new subscription service that allows you to back up your recovery phrase” and people have translated that to “LEDGER IS LEAKING YOUR KEYS DIRECTLY FROM THE DEVICE”.

Seisouhen

ID-based key recovery service Eww it's a hardware wallet it should be as anonymous as possible imo, let alone trusting someone else with your KEYS

kirtash93

I will never get bored of repeating it if it means that one of the readers will be safe. ## NOT YOUR KEYS, NOT YOUR COINS

kirtash93

For all the people buying or thinking or holding crypto in Paypal. # NOT YOUR KEYS, NOT YOUR COINS

CypherMcAfee

I have bad news for them... NOT YOUR KEYS NOT YOUR COINS

CryptoIsThePlan

I am a fan of Kraken, they have a great UI, security is good and never had any issues. They also encourage self custody wallets. With that being said remember people NOT YOUR KEYS NOT YOUR CRYPTO!

CryptoIsThePlan

This is unfortunate situation but this is a lesson to you and everybody to get a self custody wallet. NOT YOUR KEYS NOT YOUR CRYPTO Somebody did make a good point you should probably talk to a lawyer about the situation.