Reddit Posts
Show me me what you read and I'll tell you who you are 😎
How decentralized is Bitcoin really?
Stop the BS, AMAZON is making a COIN and that is the REAL DEAL
As early as 2011 Bitcoin Talk user Casascius was selling 100 BTC Gold Bars with the private key in them.The 100 BTC bars are worth $2,702,250 USD today. On November 29th, 2011 a 100 BTC bar would have cost you roughly 108.50 BTC ($277 USD).
As early as 2011 Bitcoin Talk user Casascius sold 100 BTC gold bars with the private key in them. The 100 BTC bars are worth over $2,702,250 USD today. On November 29th, 2011 a 100 BTC bar would have cost you roughly 108.50 BTC ($277 USD).
TIL in 2011 Bitcoin Talk user Casascius was selling 100 BTC gold plated bars with private keys in them. The 100 BTC bars are worth over $2,702,250 USD today. On November 29th, 2011 a 100 BTC bar would have cost you roughly 108.50 BTC ($277 USD).
How well do you know your crypto fundamentals? TIL that you can take a free crypto course offered by MIT. The best part is Gary Gensler (yeah the guy we don't like in crypto right now) teaches the course titled: "Blockchain & Money".
How well do you know your crypto fundamentals? TIL that you can take a free crypto course offered by MIT. The best part is Gary Gensler (yeah the guy we don’t like in crypto right now) teaches the course titled: “Blockchain & Money”.
Reddit and its new Gold rush! Today Reddit announced two new features (that pay you). Reddit Gold & The Reddit Contributor Program. What does this mean for Moons/RCPS?
TIL Trevor Lawrence (No.1 Overall NFL Pick in 2021) invested his entire signing bonus of $22M into ETH/BTC/and other Crypto. He partnered with Blockfolio which later became FTX to store his crypto. Hindsight is always 20/20.
TIL Trevor Lawrence (No.1 Overall NFL Pick in 2021) invested his entire signing bonus of $22M into ETH/BTC/and other Crypto. He partnered with Blockfolio which later became FTX to store his crypto. Hindsight is always 20/20.
Would you buy a crypto ETF that paid out a monthly dividend? Because they exist!
Would you buy a BTC/ETH ETF that paid out a dividend? Because they exist!
TIL Trevor Lawrence (No.1 Overall NFL Pick in 2021) invested his entire signing bonus of $22M into ETH/BTC/and other Crypto. He partnered with Blockfolio which later became FTX to store his crypto. Hindsight is always 20/20.
TIL Trevor Lawrence (No.1 Overall NFL Pick in 2021) invested his entire signing bonus of $22M into ETH/BTC/and other Crypto. He partnered with Blockfolio which later became FTX to store his crypto. Hindsight is always 20/20.
Google Authenticator Cloud Sync responsible for $15M Fortress Trust hack! Hacker deep faked an employees voice as well.
TIL Trevor Lawrence (No.1 Overall NFL Pick in 2021) invested his entire signing bonus of $22M into ETH/BTC/and other Crypto. He partnered with Blockfolio which later became FTX to store his crypto. Hindsight is always 20/20.
TIL Trevor Lawrence (No.1 Overall NFL Pick in 2021) invested his entire signing bonus of $22M into ETH/BTC/and other Crypto. He partnered with Blockfolio which later became FTX to store his crypto. Hindsight is always 20/20.
Gary Gensler & The SEC have no problem going after your favorite crypto/exchange. BUT it has been 247 days since Logan Paul admitted his $1.8M CryptoZoo scam, he gets to walk around free without punishment from the SEC.
Bary Silbert Founder of DCG (Digital Currency Group) with an AUM of $50 BILLION. He also created the first "publically traded" BTC investment fund! BUT he's also the CEO of the parent company to Genesis the now bankrupt crypto company.
TIL about Bary Silbert Founder of DCG (Digital Currency Group) with an AUM of $50 BILLION. He also created the first "publically traded" BTC investment fund! BUT he's also the CEO of the parent company to Genesis, the now bankrupt crypto company.
TIL about Bary Silbert Founder of DCG (Digital Currency Group) with an AUM of $50 BILLION. He also created the first "publically traded" BTC investment fund! BUT he's also the CEO of the parent company to Genesis, the now bankrupt crypto company.
The last of Ledger's co-founders to hold an operational position is leaving. Good riddance.
A Bitcoin Obituary - 10 notable Bitcoin 'Deaths' in 2010-2013
A Bitcoin Obituary - 10 notable Bitcoin 'Deaths' in 2010-2013
A Bitcoin Obituary - 10 notable Bitcoin 'Deaths' in 2010-2013
Is Satoshi Nakamoto’s Unknown Identity Good or Bad
Spectrum Finance, Cardano's first FULLY OPEN SOURCE DEX has gone live! This is a huge accomplishment for Cardano DeFi! Open source really should be a DeFi standard!
Ledger claiming to be Open Source? "WE ARE OPEN SOURCE AND DEVELOPER-FRIENDLY"
What was the last version number of Ledger firmware with NO key extraction code of any kind?
Telos Announces Strategic Collaboration with GameStop to Expand Web3 Gaming
The Questions Ledger Owes Us Answers To
The FIAT Money was Design for Debasement your Purchasing Power 💡
Ledger Confirms Their Hardware Wallets Have A Backdoor To Send A User's Seed To Companies, Over The Internet
The price action of the last few days reminds me of what I would see in late 2020 and early 2021! There are simply no sellers left. They literally all sold sub 25k! So what we're seeing now is spot demand flooding in, and small gyrations from leverage apes whipsawing.
Brazil's Central Bank to Launch Digital Currency Pilot Project with Payments Made through Digital Contracts (CNN)
An Open Letter to Charles Hoskinson (a post that was censored by the mods of the Cardano subreddit and discussion threads)
A technical deep dive into 2 biggest PoS networks Ethereum and Cardano: comparing protocols and liquid staking given the recent SEC action against Kraken (3rd largest ETH validator)
Cardano does not have USDT and USDC because it adheres to the principles of decentralization at the protocol design level and does not allow token issuers to censor transactions. Ethereum/Polygon/EVM USDT & USDC solidity contracts can freeze your funds and zero out your balance.
The ANTI-SHILL post for POLYGON. Why the project could fail, and how the data and sentiment tells that story.
The ANTI-SHILL post for COSMOS. Why the project could fail, and how the data tells that story.
The best summary of what happened and how to solve this mess going forward!
Satoshi created Bitcoin network to eliminate the need for trusted 3rd parties while in the recent years we gave BTC to "trusted" 3rd parties so that they can steal our BTC! EDUCATIONAL POST ON CEXes, INFLUENCERS, CHEATING and RED FLAGS! Buckle up moonbois, here's free schooling on recent events !
COINSOURCE BTC MACHINE ARE SCAM FRAUD DO NOT USE PROOF screens
Attention to all so-called "crypto influencers": profiting from shilling crypto assets online, without disclosing this to your audience, will be considered market manipulation by the European Union under the new MiCA Regulation!
Multiplayer Soccer P2E Blockchain Game Source Code ( NFTArea Project Update )
Latvian NFT artist faces 12 years in jail over ‘money laundering’, €8.7 million art earnings frozen
$DKYC (Don’t KYC) | DCash Launch Event | Spend BUSD from Any Source as Cash* | 10k+ Holders | $5M+MC | Extensive Roadmap | Outperforming BNB
Lets create a bitcoin price index! Based on the best spot exchanges only. Say goodbye to most of the manipulation.
Reuters Investigate has found that in the last five years, Binance served as a middleman for the laundering of at least $2.35 billion from hacks, investments frauds and illegal drug sales
A 2005 Yale study taught monkeys how to use money
In the past 24 hours, $420.69 million longs were liquidated
BETTA - an automatic reflection token that eliminates Safemoon's broken "add liquidity" event. BETTA's revolutionary tokenomics feature no staking, no inflation, a fixed supply & deflation! 5% tax on all transactions - 3% burned, 2% reflections. All-inclusive NFTs & metaverse project coming soon!
Dobermen Club House - Nft + Sneaker each product is connected to a good cause action item that matches the NFT theme
Quantum computer solves Bitcoin's algorithm for the first time in history, BTC drops 20% in minutes
BlackRock CEO, who once labelled Bitcoin an ‘index of money laundering’, is changing his tune on crypto
BlackRock CEO, who once labelled Bitcoin an ‘index of money laundering’, is changing his tune on crypto
BlackRock CEO, who once labelled Bitcoin an ‘index of money laundering’, is changing his tune on crypto
UKRAINE: Let's block ALL Russian crypto exchange accounts
From Libra to Diem, and now Aptos, the former Facebook stablecoin project refuses to die
Billionaire, Charlie Munger is calling crypto "some venereal disease or something"
I present to you The Concordium Foundation
Hedera is now OPEN SOURCE
What would a Government owned Decentralized Applications (DApps), DeFi look like in 2022!
⚠ WARNING: If you consider to contribute to Polkadot's crowdloans you should know that parallel.fi has serious issues with token distribution!
Warning: Do not use parallel.fi to contribute to Polkadot's crowdloans. They have serious issues with token distribution.
Opportunities for blockchain in healthcare
WARNING: Watch out for coins that are CENTERLIZED
Solana must be stopped at all costs TOP 3 REASONS
Mentions
I propose we increase the font size of the words. "UNRELIABLE SOURCE"
“apparently”? Provide ONE SOURCE to back up your claims.
> 1 - Get a hardware wallet. No excuses. Get a hardware wallet. Learn how to use it. And make sure that hardware wallet is OPEN SOURCE. **Do Not Buy A Ledger.** Closed source code cannot be trusted. Ledger can't be trusted: [1](https://np.reddit.com/r/CryptoCurrency/comments/13v80ri/the_questions_ledger_owes_us_answers_to/), [2](https://np.reddit.com/r/BitcoinBeginners/comments/1btw3tv/ledgers_wallet/kxotjya/) A hardware wallet with key extraction code cannot be trusted! (Only Ledger does this). It's not about whether or not you can trust Ledger today (Spoiler: You can't). The real issue is whether or not you'll still be able to trust Ledger years from now. If you buy a hardware wallet that runs only open source code - fully open source code - you don't have to trust the company that makes it since the code itself can be verified. Don't trust. Verify. There's a reason Bitcoin is open source. Your hardware wallet should be open source too.
AS A GENERAL RULE: IF IT GOES DOWN FASTER THAN IT GOES UP THEN IT'S A BEAR MARKET. SOURCE: Lots of experience.
Trezor is an excellent choice. I always recommend Trezor as a first hardware wallet, because it's fully open source, and among the open source options it's the easiest to use. My own preference is Krux: It's fully open source, stateless & airgapped. It uses encrypted seed QR codes and offers passphrase QR too. And it runs on off the shelf hardware, so buying the hardware to run it won't put you on anybody's mailing list... which brings me back to another reason why Ledger can't be trusted: > Ledger wallet users face mounting home invasion and other scareware threats as hacker dumps private customer information online. > SOURCE: [Cointelegraph](https://cointelegraph.com/news/ledger-data-leak-a-simple-mistake-exposed-270k-crypto-wallet-buyers) ...Ledger can't even keep *their* data secure. Don't trust them with your coins.
> I don’t care who it is. I don’t want to trust someone else. THIS. But don't forget to make sure you don't have to trust someone with how you secure your Bitcoin. Ledger taught me that lesson. What a dirty company. First, Ledger said: > Your keys are always stored on your device and never leave it > SOURCE: [btchip, Ledger Co-Founder, on May 14th, 2023](https://np.reddit.com/r/ledgerwallet/comments/13gs0xn/using_ledger_with_3rd_party_wallets/jk34kcn/) ...then they added key extraction firmware to users devices, and they did it without the user's consent. They say it's optional, but the code that enables Ledger and other companies to extract your keys over the internet from your hardware wallet IS NOT optional. Ledger is dirty. And speaking of their code: You can't trust it. It can't be verified. > There's no backdoor and I obviously can't prove it > SOURCE: [btchip, Ledger owner & co-founder](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) ...they can't prove it because their code is closed source. Never trust Ledger. Only trust open source code.
The flair "UNRELIABLE SOURCE" I am dead 😵 We know, it's undisputed (there's video, right?) that Trump did say this, so I'm certain the unreliable source we're talking about is Trump himself. Confirmed in the comments. Nobody believes a word he says. He'll say literally anything if it might help keep him out of jail!
Oh, my man, don't go anywhere near that thing. Even Ledger's CEO begged people not to use it if they care about their privacy. These are his exact words: > "If, for you, your privacy is of the utmost importance, please do not use that product, for sure." > SOURCE: [Ledger CEO Pascal Gauthier, on video](https://youtu.be/M3VjQUcyZSY?t=2342) But here's the thing you need to understand: Even if you don't use it, the code required to extract your seed from your hardware over the internet is on your hardware wallet. The service is optional. The key extraction code is not optional. It's on your device, and that should scare the hell out of you. I was a long time Ledger user with multiple Ledger devices. I stopped using them in May 2023 when their key extraction firmware got outed. I didn't panic. But I did stop using my Ledgers. And I spent a lot of time researching a better plan for securing my own coins. I moved my alts to a Trezor compatible device (a OneKey. I don't recommend it, by the way. It's fine, but I'd recommend a Trezor). For my Bitcoin, I got a Krux, which I highly recommend. Free and open source, running on off the shelf hardware that can be bought for under $50. Stateless. Airgapped. Encrypted seed QR. Passphrase QR. That's hardcore security.
I'm glad you asked. Ledger can't be trusted. Here's a summary, with links to cite sources. 1: Ledger's word can't be trusted. The following was a lie: > Your keys are always stored on your device and never leave it > SOURCE: [btchip, Ledger Co-Founder, on May 14th, 2023](https://np.reddit.com/r/ledgerwallet/comments/13gs0xn/using_ledger_with_3rd_party_wallets/jk34kcn/) ...that's a lie because they added key extraction firmware to users devices. 2: Ledger's code can't be trusted. It can't be verified: > There's no backdoor and I obviously can't prove it > SOURCE: [btchip, Ledger owner & co-founder](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) ...they can't prove it because their code is closed source. 3: Ledger can't be trusted with your privacy. Their CEO said so: > "If, for you, your privacy is of the utmost importance, please do not use that product, for sure." > SOURCE: [Ledger CEO Pascal Gauthier, on video](https://youtu.be/M3VjQUcyZSY?t=2342) ...Ledger's CEO said that about Ledger Recover. "For sure." 4: Ledger's security can't be trusted. They've been hacked: > Ledger wallet users face mounting home invasion and other scareware threats as hacker dumps private customer information online. > SOURCE: [Cointelegraph, December 24th, 2020](https://cointelegraph.com/news/ledger-data-leak-a-simple-mistake-exposed-270k-crypto-wallet-buyers) ...they can't even keep *their* data secure. Don't trust them with your coins. 5: Ledger's code has been hacked. > Ledger exploit makes you spend Bitcoin instead of altcoins > "A vulnerability in Ledger’s hardware wallets enables hackers to prompt someone to spend Bitcoin instead of an altcoin." > SOURCE: [Decrypt.co](https://decrypt.co/37651/ledger-exploit-makes-you-spend-bitcoin-instead-of-altcoins) Ledger took a year to fix it, only after it was reported in the media. 6: Ledger's hardware has been hacked. > In this post, I’m going to discuss a vulnerability I discovered in Ledger hardware wallets. The vulnerability arose due to Ledger’s use of a custom architecture to work around many of the limitations of their Secure Element. > An attacker can exploit this vulnerability to compromise the device before the user receives it, or to steal private keys from the device physically or, in some scenarios, remotely. > I chose to publish this report in lieu of receiving a bounty from Ledger, mainly because Eric Larchevêque, Ledger’s CEO, made some comments on Reddit which were fraught with technical inaccuracy. As a result of this I became concerned that this vulnerability would not be properly explained to customers. > SOURCE: [Saleem Rashid](https://saleemrashid.com/2018/03/20/breaking-ledger-security-model/) Ledger's bounty payments prevent those who've discovered vulnerabilities from reporting them so Ledger can lie and say they've never been hacked. More lies. 7: Ledger has been phished. > A Ledger employee just got phished. DeFi users lost over $600k > Ledger confirmed the attack was the result of a hacker compromising one of its employees via a phishing attack. After gaining access to Ledger’s internal systems, the hacker planted malicious software within the Ledger Connect Kit. > SOURCE: [DLnews, December 14th, 2023](https://www.dlnews.com/articles/defi/a-ledger-employee-got-phished-defi-users-lost-thousands/) Ah, but then Ledger changed the story, admitting it was a former employee who got phished: 8: Why did an ex-employee still have access to the codebase? Ledger won't say. > How a Single Phishing Link Unleashed Chaos on Crypto: "Ledger has confirmed the attack began because “a former Ledger employee fell victim to a phishing attack.” > Source: [Decrypt](https://decrypt.co/209838/single-phishing-link-unleashed-chaos-on-crypto) How many former Ledger employees still have access to their codebase? Ledger won't say, not that we could trust any answer they'd give. 9: Ledger's been hacked multiple times, and yet... > "The bombshell here is the explicit confirmation that Ledger themselves hold the master decryption key for all Ledger Recover users." > SOURCE: [@sethforprivacy](https://twitter.com/sethforprivacy/status/1671532787294191618) ...what could possibly go wrong, eh? Yikes. 10: Ledger Live tracks everything you do and the coins you have: > "Ledger Live is phoning out data on assets you hold in your hardware wallet the moment you access Ledger Live. It’s also sending out tons of other information about your computer and device." > The app apparently transmits data to an external endpoint at “https://api.segment.io/v1/t”, identified as an outsourced data collection service. > SOURCE: [BitcoinNews.com](https://bitcoinnews.com/ledger-live-app-accused-of-collecting-user-data/) 11: Ledger lies are even on the boxes for their hardware. > "WE ARE OPEN SOURCE" > SOURCE: [Their own packaging.](https://i.redd.it/dysdk6j9516b1.jpg) The box for Ledger hardware running closed-source firmware says Open Source. That's intentionally misleading if not outright fraud. **12: Ledger refuses to answer questions.** They [delete questions](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) in comments on their sub. They [shadowban](https://np.reddit.com/r/ledgerwallet/comments/144439c/ledger_please_answer_this_question/) users who ask them. They [scrub their website](https://np.reddit.com/r/ledgerwallet/comments/13z1yew/ledger_updates_academy_articles/) to remove claims they made for years. **The worst part is, this is only a partial list!** For example: [Ledger was still promoting FTX after FTX collapsed.](https://np.reddit.com/r/ledgerwallet/comments/z5rxw8/deleted_by_user/ixy5uc0/) I could go on and on. Ledger is inept. Ledger is dishonest. Ledger. Can't. Be. Trusted.
> There's nothing wrong with Ledger I strongly disagree. Ledger can't be trusted. Here's a summary of why, with links to cite sources. 1: Ledger's word can't be trusted. The following was a lie: > Your keys are always stored on your device and never leave it > SOURCE: [btchip, Ledger Co-Founder, on May 14th, 2023](https://np.reddit.com/r/ledgerwallet/comments/13gs0xn/using_ledger_with_3rd_party_wallets/jk34kcn/) ...that's a lie because they added key extraction firmware to users devices. 2: Ledger's code can't be trusted. It can't be verified: > There's no backdoor and I obviously can't prove it > SOURCE: [btchip, Ledger owner & co-founder](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) ...they can't prove it because their code is closed source. 3: Ledger can't be trusted with your privacy. Their CEO said so: > "If, for you, your privacy is of the utmost importance, please do not use that product, for sure." > SOURCE: [Ledger CEO Pascal Gauthier, on video](https://youtu.be/M3VjQUcyZSY?t=2342) ...Ledger's CEO said that about Ledger Recover. "For sure." 4: Ledger's security can't be trusted. They've been hacked: > Ledger wallet users face mounting home invasion and other scareware threats as hacker dumps private customer information online. > SOURCE: [Cointelegraph, December 24th, 2020](https://cointelegraph.com/news/ledger-data-leak-a-simple-mistake-exposed-270k-crypto-wallet-buyers) ...they can't even keep *their* data secure. Don't trust them with your coins. 5: Ledger's code has been hacked. > Ledger exploit makes you spend Bitcoin instead of altcoins > "A vulnerability in Ledger’s hardware wallets enables hackers to prompt someone to spend Bitcoin instead of an altcoin." > SOURCE: [Decrypt.co](https://decrypt.co/37651/ledger-exploit-makes-you-spend-bitcoin-instead-of-altcoins) Ledger took a year to fix it, only after it was reported in the media. 6: Ledger's hardware has been hacked. > In this post, I’m going to discuss a vulnerability I discovered in Ledger hardware wallets. The vulnerability arose due to Ledger’s use of a custom architecture to work around many of the limitations of their Secure Element. > An attacker can exploit this vulnerability to compromise the device before the user receives it, or to steal private keys from the device physically or, in some scenarios, remotely. > I chose to publish this report in lieu of receiving a bounty from Ledger, mainly because Eric Larchevêque, Ledger’s CEO, made some comments on Reddit which were fraught with technical inaccuracy. As a result of this I became concerned that this vulnerability would not be properly explained to customers. > SOURCE: [Saleem Rashid](https://saleemrashid.com/2018/03/20/breaking-ledger-security-model/) Ledger's bounty payments prevent those who've discovered vulnerabilities from reporting them so Ledger can lie and say they've never been hacked. More lies. 7: Ledger has been phished. > A Ledger employee just got phished. DeFi users lost over $600k > Ledger confirmed the attack was the result of a hacker compromising one of its employees via a phishing attack. After gaining access to Ledger’s internal systems, the hacker planted malicious software within the Ledger Connect Kit. > SOURCE: [DLnews, December 14th, 2023](https://www.dlnews.com/articles/defi/a-ledger-employee-got-phished-defi-users-lost-thousands/) Ah, but then Ledger changed the story, admitting it was a former employee who got phished: 8: Why did an ex-employee still have access to the codebase? Ledger won't say. > How a Single Phishing Link Unleashed Chaos on Crypto: "Ledger has confirmed the attack began because “a former Ledger employee fell victim to a phishing attack.” > Source: [Decrypt](https://decrypt.co/209838/single-phishing-link-unleashed-chaos-on-crypto) How many former Ledger employees still have access to their codebase? Ledger won't say, not that we could trust any answer they'd give. 9: Ledger's been hacked multiple times, and yet... > "The bombshell here is the explicit confirmation that Ledger themselves hold the master decryption key for all Ledger Recover users." > SOURCE: [@sethforprivacy](https://twitter.com/sethforprivacy/status/1671532787294191618) ...what could possibly go wrong, eh? Yikes. 10: Ledger Live tracks everything you do and the coins you have: > "Ledger Live is phoning out data on assets you hold in your hardware wallet the moment you access Ledger Live. It’s also sending out tons of other information about your computer and device." > The app apparently transmits data to an external endpoint at “https://api.segment.io/v1/t”, identified as an outsourced data collection service. > SOURCE: [BitcoinNews.com](https://bitcoinnews.com/ledger-live-app-accused-of-collecting-user-data/) 11: Ledger lies are even on the boxes for their hardware. > "WE ARE OPEN SOURCE" > SOURCE: [Their own packaging.](https://i.redd.it/dysdk6j9516b1.jpg) The box for Ledger hardware running closed-source firmware says Open Source. That's intentionally misleading if not outright fraud. **12: Ledger refuses to answer questions.** They [delete questions](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) in comments on their sub. They [shadowban](https://np.reddit.com/r/ledgerwallet/comments/144439c/ledger_please_answer_this_question/) users who ask them. They [scrub their website](https://np.reddit.com/r/ledgerwallet/comments/13z1yew/ledger_updates_academy_articles/) to remove claims they made for years. **The worst part is, this is only a partial list!** For example: [Ledger was still promoting FTX after FTX collapsed.](https://np.reddit.com/r/ledgerwallet/comments/z5rxw8/deleted_by_user/ixy5uc0/) I could go on and on. Ledger is inept. Ledger is dishonest. Ledger. Can't. Be. Trusted.
Agree, these sites has an agenda I don’t know why people are still posting an article while adding ( UNRELIABLE SOURCE )
Tradelens ultimately failed bc it was a private blockchain Stability Protocol has partnered with the govt of Singapore to digitize their supply chain using public blockhain. Trials are underway. Now, other public blockchains have done this too. But Stability is the only one that doesn't use crypto to do it. Much more palatable to more enterprises in more regions. [SOURCE](https://finance.yahoo.com/news/stability-protocol-partners-singapores-infocomm-130800473.html) [Tech in Asia writeup - no paywall](https://www.techinasia.com/bells-whistles-crypto-blockchain)
> Lesson learned! ...not if you still use a Ledger. You're trusting a third party (Ledger) whose firmware contains key extraction APIs. Yes, Ledger Recover is an optional service, but there is no option to use firmware without key extraction capability. That means you have to trust their closed source firmware to not have bugs or exploits. If you own more than 0.1 BTC, you shouldn't be storing it on a Ledger. Long term, that's not safe. > Your keys are always stored on your device and never leave it > SOURCE: [btchip, Ledger Co-Founder, on May 14th, 2023](https://np.reddit.com/r/ledgerwallet/comments/13gs0xn/using_ledger_with_3rd_party_wallets/jk34kcn/) ...that's a lie because they added key extraction firmware to users devices. > There's no backdoor and I obviously can't prove it > SOURCE: [btchip, Ledger owner & co-founder](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) ...they can't prove it because their code is closed source. > Ledger wallet users face mounting home invasion and other scareware threats as hacker dumps private customer information online. > SOURCE: [Cointelegraph, December 24th, 2020](https://cointelegraph.com/news/ledger-data-leak-a-simple-mistake-exposed-270k-crypto-wallet-buyers) ...they can't even keep *their* data secure. Don't trust them with your coins. > Ledger exploit makes you spend Bitcoin instead of altcoins > "A vulnerability in Ledger’s hardware wallets enables hackers to prompt someone to spend Bitcoin instead of an altcoin." > SOURCE: [Decrypt.co](https://decrypt.co/37651/ledger-exploit-makes-you-spend-bitcoin-instead-of-altcoins) ...they took a year to fix it, only after it was reported in the media. I could go on and on. Do not trust Ledger.
Sir, please take a look at $SOURCE. They just had a Live Binnace AMA and are about to be listed. Remember, Binance is looking for solid lowcap alts? That is $SOURCE. Here is a link to AMA if anyone is interested: https://www.binance.com/en/live/video?roomId=2202456 http://sourceprotocol.io
UNRELIABLE SOURCE, like all people looking into the future based on nothing.
Love it how Cointelegraph is marked as "UNRELIABLE SOURCE" :D :D
I'm glad you asked. Ledger can't be trusted. Here's a summary, with links to cite sources. 1: Ledger's word can't be trusted. The following was a lie: > Your keys are always stored on your device and never leave it > SOURCE: [btchip, Ledger Co-Founder, on May 14th, 2023](https://np.reddit.com/r/ledgerwallet/comments/13gs0xn/using_ledger_with_3rd_party_wallets/jk34kcn/) ...that's a lie because they added key extraction firmware to users devices. 2: Ledger's code can't be trusted. It can't be verified: > There's no backdoor and I obviously can't prove it > SOURCE: [btchip, Ledger owner & co-founder](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) ...they can't prove it because their code is closed source. 3: Ledger can't be trusted with your privacy. Their CEO said so: > "If, for you, your privacy is of the utmost importance, please do not use that product, for sure." > SOURCE: [Ledger CEO Pascal Gauthier, on video](https://youtu.be/M3VjQUcyZSY?t=2342) ...Ledger's CEO said that about Ledger Recover. "For sure." 4: Ledger's security can't be trusted. They've been hacked: > Ledger wallet users face mounting home invasion and other scareware threats as hacker dumps private customer information online. > SOURCE: [Cointelegraph, December 24th, 2020](https://cointelegraph.com/news/ledger-data-leak-a-simple-mistake-exposed-270k-crypto-wallet-buyers) ...they can't even keep *their* data secure. Don't trust them with your coins. 5: Ledger's code has been hacked too. > A Ledger employee just got phished. DeFi users lost over $600k > Ledger confirmed the attack was the result of a hacker compromising one of its employees via a phishing attack. After gaining access to Ledger’s internal systems, the hacker planted malicious software within the Ledger Connect Kit. > SOURCE: [DLnews, December 14th, 2023](https://www.dlnews.com/articles/defi/a-ledger-employee-got-phished-defi-users-lost-thousands/) 6: Ledger's been hacked multiple times, and yet... > "The bombshell here is the explicit confirmation that Ledger themselves hold the master decryption key for all Ledger Recover users." > SOURCE: [@sethforprivacy](https://twitter.com/sethforprivacy/status/1671532787294191618) ...what could possibly go wrong, eh? Yikes. 7: Ledger Live tracks everything you do and the coins you have: > "Ledger Live is phoning out data on assets you hold in your hardware wallet the moment you access Ledger Live. It’s also sending out tons of other information about your computer and device." > The app apparently transmits data to an external endpoint at “https://api.segment.io/v1/t”, identified as an outsourced data collection service. > SOURCE: [BitcoinNews.com](https://bitcoinnews.com/ledger-live-app-accused-of-collecting-user-data/) 8: Ledger lies are even on the boxes for their hardware. > "WE ARE OPEN SOURCE" > SOURCE: [Their own packaging.](https://i.redd.it/dysdk6j9516b1.jpg) The box for Ledger hardware running closed-source firmware says Open Source. That's intentionally misleading if not outright fraud. 9: Ledger refuses to answer questions. They're [deleting questions](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) in comments on their sub. They're [shadowbanning](https://np.reddit.com/r/ledgerwallet/comments/144439c/ledger_please_answer_this_question/) the users who ask them. They're [scrubbing their website](https://np.reddit.com/r/ledgerwallet/comments/13z1yew/ledger_updates_academy_articles/) to remove claims they've been making for years. **The worst part is, this is only a partial list!** For example: [Ledger was still promoting FTX after FTX collapsed.](https://np.reddit.com/r/ledgerwallet/comments/z5rxw8/deleted_by_user/ixy5uc0/) I could go on and on. Ledger is inept. Ledger is dirty. Ledger Can't Be Trusted.
So I have seen where BlackRock has tokenized its MMF with a partner. Not sure of how it is all inter connected. But sounds like a big step for Crypto. [SOURCE](https://coinjournal.net/news/blackrock-tokenizes-money-market-fund-on-hedera-hbar-soars/#)
I would buy in a dip. It will dip, it always does. I wouldn't buy when it's almost as expensive at it has ever been. But most important of all. REDDIT IS A POOR SOURCE OF FINANCIAL ADVISE!!
Do you're telling me a English language dictionar, that encompasses the entire language, not just specifics, is incorrect, a d you and only you poses the true definition??? Here's a idea... one link with your definition, show me ONE SOURCE. Please? Come on. Do it. Oh... you can't? Shit.
> Ledgers themselves are exceedingly safe. I strongly disagree, and I'll back up my opinion with facts, citing sources. Read on. > They also dont hold your coins. That's right. They hold your keys. And Ledger added key extraction capability to their firmware, which means Ledger turned their users devices into a honeypot for hackers. That's not opinion. It's fact. Ledger can't be trusted. Here's a summary, with links to cite sources. 1: Ledger's word can't be trusted. The following was a lie: > Your keys are always stored on your device and never leave it > SOURCE: [btchip, Ledger Co-Founder, on May 14th, 2023](https://np.reddit.com/r/ledgerwallet/comments/13gs0xn/using_ledger_with_3rd_party_wallets/jk34kcn/) ...that's a lie because they added key extraction firmware to users devices. 2: Ledger's code can't be trusted. It can't be verified: > There's no backdoor and I obviously can't prove it > SOURCE: [btchip, Ledger owner & co-founder](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) ...they can't prove it because their code is closed source. 3: Ledger can't be trusted with your privacy. Their CEO said so: > "If, for you, your privacy is of the utmost importance, please do not use that product, for sure." > SOURCE: [Ledger CEO Pascal Gauthier, on video](https://youtu.be/M3VjQUcyZSY?t=2342) ...Ledger's CEO said that about Ledger Recover. "For sure." 4: Ledger's security can't be trusted. They've been hacked: > Ledger wallet users face mounting home invasion and other scareware threats as hacker dumps private customer information online. > SOURCE: [Cointelegraph, December 24th, 2020](https://cointelegraph.com/news/ledger-data-leak-a-simple-mistake-exposed-270k-crypto-wallet-buyers) ...they can't even keep *their* data secure. Don't trust them with your coins. 5: Ledger's code has been hacked too. > A Ledger employee just got phished. DeFi users lost over $600k > Ledger confirmed the attack was the result of a hacker compromising one of its employees via a phishing attack. After gaining access to Ledger’s internal systems, the hacker planted malicious software within the Ledger Connect Kit. > SOURCE: [DLnews, December 14th, 2023](https://www.dlnews.com/articles/defi/a-ledger-employee-got-phished-defi-users-lost-thousands/) 6: Ledger's been hacked multiple times, and yet... > "The bombshell here is the explicit confirmation that Ledger themselves hold the master decryption key for all Ledger Recover users." > SOURCE: [@sethforprivacy](https://twitter.com/sethforprivacy/status/1671532787294191618) ...what could possibly go wrong, eh? Yikes. 7: Ledger Live tracks everything you do and the coins you have: > "Ledger Live is phoning out data on assets you hold in your hardware wallet the moment you access Ledger Live. It’s also sending out tons of other information about your computer and device." > The app apparently transmits data to an external endpoint at “https://api.segment.io/v1/t”, identified as an outsourced data collection service. > SOURCE: [BitcoinNews.com](https://bitcoinnews.com/ledger-live-app-accused-of-collecting-user-data/) 8: Ledger lies are even on the boxes for their hardware. > "WE ARE OPEN SOURCE" > SOURCE: [Their own packaging.](https://i.redd.it/dysdk6j9516b1.jpg) The box for Ledger hardware running closed-source firmware says Open Source. That's intentionally misleading if not outright fraud. 9: Ledger refuses to answer questions. They're [deleting questions](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) in comments on their sub. They're [shadowbanning](https://np.reddit.com/r/ledgerwallet/comments/144439c/ledger_please_answer_this_question/) the users who ask them. They're [scrubbing their website](https://np.reddit.com/r/ledgerwallet/comments/13z1yew/ledger_updates_academy_articles/) to remove claims they've been making for years. **The worst part is, this is only a partial list!** For example: [Ledger was still promoting FTX after FTX collapsed.](https://np.reddit.com/r/ledgerwallet/comments/z5rxw8/deleted_by_user/ixy5uc0/) I could go on and on. Ledger is inept. Ledger is dirty. Ledger Can't Be Trusted.
> Ledgers themselves are exceedingly safe. I strongly disagree, and I'll back up my opinion with facts, citing sources. Read on. > They also dont hold your coins. That's right. They hold your keys. And Ledger added key extraction capability to their firmware, which means Ledger turned their users devices into a honeypot for hackers. That's not opinion. It's fact. Ledger can't be trusted. Here's a summary, with links to cite sources. 1: Ledger's word can't be trusted. The following was a lie: > Your keys are always stored on your device and never leave it > SOURCE: [btchip, Ledger Co-Founder, on May 14th, 2023](https://np.reddit.com/r/ledgerwallet/comments/13gs0xn/using_ledger_with_3rd_party_wallets/jk34kcn/) ...that's a lie because they added key extraction firmware to users devices. 2: Ledger's code can't be trusted. It can't be verified: > There's no backdoor and I obviously can't prove it > SOURCE: [btchip, Ledger owner & co-founder](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) ...they can't prove it because their code is closed source. 3: Ledger can't be trusted with your privacy. Their CEO said so: > "If, for you, your privacy is of the utmost importance, please do not use that product, for sure." > SOURCE: [Ledger CEO Pascal Gauthier, on video](https://youtu.be/M3VjQUcyZSY?t=2342) ...Ledger's CEO said that about Ledger Recover. "For sure." 4: Ledger's security can't be trusted. They've been hacked: > Ledger wallet users face mounting home invasion and other scareware threats as hacker dumps private customer information online. > SOURCE: [Cointelegraph, December 24th, 2020](https://cointelegraph.com/news/ledger-data-leak-a-simple-mistake-exposed-270k-crypto-wallet-buyers) ...they can't even keep *their* data secure. Don't trust them with your coins. 5: Ledger's code has been hacked too. > A Ledger employee just got phished. DeFi users lost over $600k > Ledger confirmed the attack was the result of a hacker compromising one of its employees via a phishing attack. After gaining access to Ledger’s internal systems, the hacker planted malicious software within the Ledger Connect Kit. > SOURCE: [DLnews, December 14th, 2023](https://www.dlnews.com/articles/defi/a-ledger-employee-got-phished-defi-users-lost-thousands/) 6: Ledger's been hacked multiple times, and yet... > "The bombshell here is the explicit confirmation that Ledger themselves hold the master decryption key for all Ledger Recover users." > SOURCE: [@sethforprivacy](https://twitter.com/sethforprivacy/status/1671532787294191618) ...what could possibly go wrong, eh? Yikes. 7: Ledger Live tracks everything you do and the coins you have: > "Ledger Live is phoning out data on assets you hold in your hardware wallet the moment you access Ledger Live. It’s also sending out tons of other information about your computer and device." > The app apparently transmits data to an external endpoint at “https://api.segment.io/v1/t”, identified as an outsourced data collection service. > SOURCE: [BitcoinNews.com](https://bitcoinnews.com/ledger-live-app-accused-of-collecting-user-data/) 8: Ledger lies are even on the boxes for their hardware. > "WE ARE OPEN SOURCE" > SOURCE: [Their own packaging.](https://i.redd.it/dysdk6j9516b1.jpg) The box for Ledger hardware running closed-source firmware says Open Source. That's intentionally misleading if not outright fraud. 9: Ledger refuses to answer questions. They're [deleting questions](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) in comments on their sub. They're [shadowbanning](https://np.reddit.com/r/ledgerwallet/comments/144439c/ledger_please_answer_this_question/) the users who ask them. They're [scrubbing their website](https://np.reddit.com/r/ledgerwallet/comments/13z1yew/ledger_updates_academy_articles/) to remove claims they've been making for years. **The worst part is, this is only a partial list!** For example: [Ledger was still promoting FTX after FTX collapsed.](https://www.reddit.com/r/ledgerwallet/comments/z5rxw8/deleted_by_user/ixy5uc0/) I could go on and on. Ledger is inept. Ledger is dirty. Ledger Can't Be Trusted.
> don't use the same email that could be tied to your other illicit activates. Ledger has leaked names and home addresses of their customers multiple times. For example: > Ledger wallet users face mounting home invasion and other scareware threats as hacker dumps private customer information online. > SOURCE: [Cointelegraph, December 24th, 2020](https://cointelegraph.com/news/ledger-data-leak-a-simple-mistake-exposed-270k-crypto-wallet-buyers) ...Ledger can't even keep *their* data secure. Don't trust them with your coins. Ledger even says not to trust some of their services if you care about your privacy. Hilarious! > "If, for you, your privacy is of the utmost importance, please do not use that product, for sure." > SOURCE: [Ledger CEO Pascal Gauthier, **on video**](https://youtu.be/M3VjQUcyZSY?t=2342) ...Ledger's CEO said that about Ledger Recover. "For sure."
I knew some of this, and you had me at inflation, but SMART CONTRACTS ARE CLOSED SOURCE?
EXODUS IS CLOSED SOURCE, DON'T USE THIS SHIT. Dunno how often this has to be shouted out again and again!
What problem did the number 0 solve ? It provided us a base layer from which to conduct more advanced mathematical calculations. Bitcoin is the base layer ledger of account … Allowing us to conduct HONEST exchanges of value across the globe . it solves ( for the first time in history )the Byzantine general’s problem. The double spend problem. It provides THE WORLDS FIRST DECENTRALIZED , FULLY OPEN SOURCE AUDITED , SECURE , PERMISSION-LESS , TRUST-LESS ledger to enable exchange of value. If you don’t see value in that … or the number 0 … or the long strings of 1s and 0s that make up binary…. I can’t help you.
You have no idea of the vulnerabilities that are added to a wallet to cater for shitcoin lack of security. But they get added because those sweet sweet shitcoins are needed for the gambling addiction. AND IT'S CLOSED SOURCE SO THEY CAN BE DOING ANYTHING.
The facts: >When Bitcoin was at its highest today everyone accounts went to zero and we were not able to buy or sell using the regular process that most are familiar with The made up part: >Coinbase pulled a Robinhood today and blocked trading at the top What actually happened: >We had modeled a \~10x surge in traffic and load tested it. This exceeded that number.It's expensive to keep services over-provisioned, but we'll need to keep working on auto-scaling solutions ([SOURCE](https://twitter.com/brian_armstrong/status/1762933446194901140)) The didn't "block" trading. The had problems scaling. Incompetence, not conspiracy.
Just grabbed my SOURCE airdrop yesterday. Nice and easy 7 dollar drop
Well since we're doing this... Right now, my moonshot is $SOURCE. It's an L1 MicroCap. Supposed to be releasing something soon... Staking APR is <100%...
If you stake ATOM, check osmosis to see if you can deposit SOURCE. I had a 12 pack of Sierra Nevada sitting there.
I see, you baited me, and I gave the fairest response possible, and you lash out with that bullshit?? I don't need to state the big revelation, I gave you the source. THE FUCKING SOURCE. You're free to disagree and defend Ethereum like the rest of the hive mind, but you don't need to be an ass. Move the fuck along, have a great day, pal.
Well it put up a fight against the SEC during a bear market when others didn’t and this happened, so....https://pbs.twimg.com/media/GDW67ZkXYAAw0BS?format=jpg&name=medium SOURCE: https://coinmarketcap.com/ & https://www.tradingview.com/
we should brand it an UNRELIABLE SOURCE as of now
9. IOG abandoned eUTXO for their new 4th generation blockchain, despite Cardano shills always telling us its superior. 10. Cardano is still controlled by Genesis keys which IOG, or any bad actor that gains access to these keys, can use to freeze the Cardano blockchain at any time. 11. 67% of Cardano TVL is in CLOSED SOURCE apps ($245 million of $365 million). Shows how much the community actually values decentralization. 12. Cardano TPS still can't handle the launch of any new coin, on any DEX, without the DEX becoming completely unusable. Minswap, Wingriders, Muesliswap, Spectrum, NONE of them can handle the throughput. Even the "stealth launch" of a random meme coin Kiseki still crippled their current fastest DEX (fastest because its the only one updated to Plutus V2) 13. Charles makes fun of other founders for not staking all their coins, when Charles himself hides all of his ADA on Coinbase.
This reminds me of late 2017 lol “THIS FUD FROM A SOURCE NOBODY READS CAUSED IT!”
People don't understand this: clients asked BlackRock, "Hey, can you manage my wealth, including bitcoin in my assets?" and Blackrock is requesting Bitcoin ETF. They would do this with cabbages if that were the demand. All the fuss about "it's a conspiracy to destroy Bitcoin" sounds more like a conspiracy theory than anything else. Also, he made Bitcoin OPEN SOURCE and PERMISSIONLESS; from the start, he let the opportunity open for ANYTHING to happen. He didn't want to control it; or superimpose a direction to it. The whitepaper presents an attempt, an experiment. Let it unfold to its end, and let's see.
#Cosmos Con-Arguments Below is a Cosmos con-argument written by gnarley_quinn. > > THE ANTI-SHILL FOR COSMOS: > INFLATION - Much too high. Staking rewards do not offset the supply increase. > There is a significant discrepancy between the inflation calculated by Messari and CoinMarketCap versus the stated inflation from the various Cosmos ecosystem scanners. > Whether it is because of some hidden lock mechanic for some tokens, and since these values are suppose to represent the circulating supply, it is not a good look for investors to have to justify why the stated inflation does not match the calculated one. > The staking rewards are averaged at 21.57% which is below the calculated inflation value, but above the stated inflation value. The staking rewards claimed on the COSMOS website also state the average APY is less than ten percent, which is significantly lower than the stated inflation. > There is a different incentive to holding which is airdrops. Depending on snapshots, you could get lucky with an airdrop that goes ballistic. > > > SOURCE INFLATION SUPPLY TODAY SUPPLY LAST YEAR > Messari 26.60 % 286,370,297 226,186,564 > Coinmarketcap 26.66 % 286,370,297 226,127,431 > Mintscan 13.82 % 313,077,417 Not provided > Atomscan 13.82 % Not provided Not provided > Cosmoscan 13.81 % 319,984,721.29 Not provided > UTILITY - Limited use. There is no reason to hold the token other than speculation > There is actually very little utility for the ATOM token. By staking ATOM, you are able to vote in Cosmos Hub governance decisions, but that is about it. There doesn't seem to be much reason to actually hold it other than it might go up or down and thus you could sell it. For context, other projects require their token to be used for fees or NFT sales. According to cryptofees, the COSMOS chain doesn't seem to actually make any money, the projects built on it do - which still doesn't seem to give a reason to hold ATOM. > DAILY ACTIVITY - It is a mystery! > Try as I might, I could not find statistics anywhere about how many addresses are actually being used on the COSMOS chain. To me, this is a massive red flag. I can find transactions on several sites quite easily, but not being able to find statistics showing me the total number of wallets created, and what percentage of them are currently being used seems impossible. This is a massive issue in terms of transparency on the chain. > Transactions > For what its worth, the average transactions seems fairly consistent, but until I can see the number of wallets that are active, I have no way of knowing if any of these are real users, bots, or just staking rewards. > MARKETCAP DOMINANCE - Falling all year > Obviously the entire crypto asset class is down this year, but if you compare like for like, you can still get a sense of whether the token is holding up well or not. > The marketcap dominance for COSMOS is roughly half of what it was at the beginning of the year. Reaching a top of around 0.6 % of the Crypto market in February, it now sits at 0.3 %. All altcoins will lose dominance in a bear market, but you would want the crypto to hold its own in the class as much as possible. Dropping 50% is not a good thing. > The dominance picked up prior to the announcement of 2.0, but has since fallen away again. > Marketcap dominance > TOTAL VALUE LOCKED - Where is it? > This value helps understand how many people are staking COSMOS and in a sense how commited investors are to the project. Yet once again this is a figure that is difficult to ascertain. > According to DefiLlama, there is no reported TVL directly for the ATOM token. Once again, they list all the projects built on top of the blockchain. The bonded tokens provided on mintscan also seem to correlate to this value. The highest individual TVL seems to CRONOS or KAVA, but I personally dont believe the locked tokens on an individual project on a blockchain should count towards the TVL on another chain. This is not necessarily a bad thing about the TVL for the ecosystem, but it begs the question again, what is the point of holding the ATOM token? > DECENTRALISATION - Some validators have too much control of the network > There are currently \~175 validators which is gives a Nakamoto Co-efficient of just 7. This is roughly the same level of decentralisation as Binance and is a terrible score. COSMOS really needs to increase the numbers of validators quickly because the distribution of tokens across the staking validators is a significant risk. > Nakamoto Coefficient > BIGGEST COMPETITION - Polkadot still higher in most cases > All cryptos are essentially in some sort of competition with each other. Due to the rationale, goals and purpose the blockchain, the biggest competitor to COSMOS is likely POLKADOT. > Again, the crypto asset class is down, by comparing marketcap dominance, Polkadot is still more than double the marketcap of COSMOS. > While Polkadot actually has about half the number of validators as COSMOS, the staking mechanism results in a much better Nakamoto-Coefficient of 85. This means Polkadot is 12 times more decentralised than Cosmos. > \*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\* > CONCLUSION: > Holding the ATOM token is pretty much only for speculation - you may get some free stuff or see the price rise. > TLDR: Just read the bold headlines ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cosmos) to find submissions for other topics.
You still standing with Ledger? Good luck with that. They got hacked again: > A Ledger employee just got phished. DeFi users lost over $600k > Ledger confirmed the attack was the result of a hacker compromising one of its employees via a phishing attack. After gaining access to Ledger’s internal systems, the hacker planted malicious software within the Ledger Connect Kit. > SOURCE: [DLnews, December 14th, 2023](https://www.dlnews.com/articles/defi/a-ledger-employee-got-phished-defi-users-lost-thousands/)
You can know with OPEN SOURCE projects.... You can't know with CLOSED SOURCE projects....
You're exactly right. Technically speaking, they built a backdoor and they lied about it. Ledger even lies on their packaging. > ["WE ARE OPEN SOURCE"](https://i.redd.it/dysdk6j9516b1.jpg) The box for hardware with closed-source firmware says they're open source. That's intentionally misleading if not outright fraud. The more you learn, the more you'll see that Ledger is dirty.
Sure. Short answer: Ledger said your keys never leave your device while they were writing code to extract the keys from your device. Detailed answer: Ledger sells hardware wallets to protect keys, but now they want to create a subscription service. For $10 a month, they'll extract the keys from your hardware and split them into 3 parts, shared with and stored by Ledger and 2 other companies. If you lose your keys, you can get them back from Ledger and those other 2 companies. The problem is, Ledger swore your keys never leave your hardware wallet. Their subscription service (named "Recover") proves they were lying. Ledger said this, for years: > Your keys are always stored on your device and never leave it > SOURCE: [btchip, Ledger Co-Founder, on **May 14th, 2023**](https://np.reddit.com/r/ledgerwallet/comments/13gs0xn/using_ledger_with_3rd_party_wallets/jk34kcn/) And Ledger said this: > "While Ledger is using a dual chip system with an MCU as well, the important part is that your private keys remain inside the Secure Element." > [SOURCE](https://www.ledger.com/academy/security/not-all-chips-are-born-equal): Ledger.com > "This means that, beyond keeping your private key offline and away from hackers, the Ledger device itself is also completely impenetrable from external threats" > [SOURCE](https://www.ledger.com/academy/basic-basics/2-how-to-own-crypto/what-is-a-crypto-wallet): Ledger.com **But Ledger also wrote code to extract your keys from your hardware and send them to Ledger & other companies. And they built that code into the firmware for your Ledger hardware.** They said your keys never leave your device while they wrote the code to extract the keys from your device. That's like a woman saying "I'll never leave you" while she's snapping selfies and writing a profile for Tinder. Ledger lies: > "Private data, such as your private keys will be protected and never leave the device due to the combination of BOLOS and the Secure Element." > [SOURCE](https://www.ledger.com/academy/security/our-custom-operating-system-bolos/): Ledger.com They said your private keys never leave the device while they were writing code to extract your keys from your device. Ledger can't be trusted.
> I’ll be the first person to swap my Ledgers when I see the explosions. By the time that happens, it'll be too late. Here's what's going to happen when Ledger's key extraction code gets hacked (or when there's another security breach): Hackers aren't going to start stealing coins. They won't want anyone to know there's a problem until they've been able to steal as many keys as they can. By the time they start emptying wallets, it'll be too late to move coins because they'll already be gone. Don't forget, Ledger's security has already been hacked: > Ledger wallet users face mounting home invasion and other scareware threats as hacker dumps private customer information online. > SOURCE: [Cointelegraph, December 24th, 2020](https://cointelegraph.com/news/ledger-data-leak-a-simple-mistake-exposed-270k-crypto-wallet-buyers)
Have you seen this? > ["WE ARE OPEN SOURCE"](https://i.redd.it/dysdk6j9516b1.jpg) The box for Ledger hardware that uses closed-source firmware says open source. That's intentionally misleading if not outright fraud.
> If you don't use the service, it doesn't leave the device. Prove it. Even Ledger admits they can't prove their code doesn't have backdoors. > There's no backdoor and I obviously can't prove it > SOURCE: [btchip, Ledger owner & co-founder](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) ...they can't prove it because their code isn't open.
> I'm going to argue a technicality that the statement was true at the time, and is therefore by definition not a lie Wrong. Here's proof. Notice the date: > Your keys are always stored on your device and never leave it > SOURCE: [btchip, Ledger Co-Founder, on May 14th, 2023](https://np.reddit.com/r/ledgerwallet/comments/13gs0xn/using_ledger_with_3rd_party_wallets/jk34kcn/) **May 14th, 2023** Now, think about how many months it took to create Recover. Ledger had to find other companies to partner up with. That means lawyers from three different companies in three different countries had to agree on terms and contracts. Seriously, think about how long that had to take. Ledger had to write the code and test it with all three companies. That's quite an undertaking. Think about how long that had to take. Ledger had to have been working on Recover as far back as at least 2021, yet they were still lying about keys never leaving their hardware as late as May 2023, even after Recover had been announced. It was a flat out pants on fire lie. They'd been lying about the core feature of their hardware wallets for many months. > They spent weeks answering questions during the whole controversy. They were also deleting questions they didn't want to answer and shadowbanning users who asked them.
No, Ledger isn't fine if you care about your security. Ledger can't be trusted. Here's a summary, with links. 1: Ledger's word can't be trusted. The following was a lie: > Your keys are always stored on your device and never leave it > SOURCE: [btchip, Ledger Co-Founder, on May 14th, 2023](https://np.reddit.com/r/ledgerwallet/comments/13gs0xn/using_ledger_with_3rd_party_wallets/jk34kcn/) ...that's a lie because they added key extraction firmware to users devices. 2: Ledger's code can't be trusted. It can't be verified: > There's no backdoor and I obviously can't prove it > SOURCE: [btchip, Ledger owner & co-founder](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) ...they can't prove it because their code is closed source. 3: Ledger can't be trusted with your privacy. Their CEO said so: > "If, for you, your privacy is of the utmost importance, please do not use that product, for sure." > SOURCE: [Ledger CEO Pascal Gauthier, on video](https://youtu.be/M3VjQUcyZSY?t=2342) ...he said that about one of his own products. For sure. 4: Ledger's security can't be trusted. They've been hacked: > Ledger wallet users face mounting home invasion and other scareware threats as hacker dumps private customer information online. > SOURCE: [Cointelegraph, December 24th, 2020](https://cointelegraph.com/news/ledger-data-leak-a-simple-mistake-exposed-270k-crypto-wallet-buyers) ...they can't even keep *their* data secure. Don't trust them with your coins. 5: Ledger's security has been hacked, and yet... > "The bombshell here is the explicit confirmation that Ledger themselves hold the master decryption key for all Ledger Recover users." > SOURCE: [@sethforprivacy](https://twitter.com/sethforprivacy/status/1671532787294191618) ...what could possibly go wrong, eh? 6: Ledger lies on their packaging. > ["WE ARE OPEN SOURCE"](https://i.redd.it/dysdk6j9516b1.jpg) The box for hardware with closed-source firmware says open source? That's intentionally misleading if not outright fraud. 7: Ledger refuses to answer questions. They're [deleting questions](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) in comments on their sub. They're [shadowbanning](https://np.reddit.com/r/ledgerwallet/comments/144439c/ledger_please_answer_this_question/) the users who ask them. They're [scrubbing their website](https://np.reddit.com/r/ledgerwallet/comments/13z1yew/ledger_updates_academy_articles/) to remove claims they've been making for years. They're dirty. Ledger Can't Be Trusted.
Ledger lied about what is in their closed source code. That's the point I'm making. > Your keys are always stored on your device and never leave it > SOURCE: [btchip, Ledger Co-Founder, on May 14th, 2023](https://np.reddit.com/r/ledgerwallet/comments/13gs0xn/using_ledger_with_3rd_party_wallets/jk34kcn/) Think about the date of that quote. No, really, think about that date: **May 14th, 2023** Now, think about how long it took to create Recover. Ledger had to find other companies to partner up with, and lawyers from three different companies had to agree on terms and contracts. Any guesses on how long that took? Ledger had to write the code and test with all three companies. That's quite an undertaking. Think about how many months Ledger was falsely selling hardware while telling customers things like this: > "Hi - your private keys **never** leave the Secure Element chip, which has never been hacked. The Secure Element is 3rd party certified, and is the same technology as used in passports and credit cards. A firmware update cannot extract the private keys from the Secure Element." > [SOURCE](https://twitter.com/Ledger/status/1592551225970548736): @Ledger And this, all of which has recently [been scrubbed from their website]( https://np.reddit.com/r/ledgerwallet/comments/13z1yew/ledger_updates_academy_articles/) > "Private data, such as your private keys will be protected and never leave the device due to the combination of BOLOS and the Secure Element." > [SOURCE](https://www.ledger.com/academy/security/our-custom-operating-system-bolos/): Ledger.com > "The secret keys or seed are never exposed to the BLE stack and never, ever leave the Secure Element." > [SOURCE](https://www.ledger.com/ledger-nano-x-bluetooth-security-model-of-a-wireless-hardware-wallet/): Ledger.com > "While Ledger is using a dual chip system with an MCU as well, the important part is that your private keys remain inside the Secure Element." > [SOURCE](https://www.ledger.com/academy/security/not-all-chips-are-born-equal): Ledger.com > "This means that, beyond keeping your private key offline and away from hackers, the Ledger device itself is also completely impenetrable from external threats" > [SOURCE](https://www.ledger.com/academy/basic-basics/2-how-to-own-crypto/what-is-a-crypto-wallet): Ledger.com Even their packaging lies: > "WE ARE OPEN SOURCE..." > https://i.redd.it/dysdk6j9516b1.jpg The issue isn't that Ledger's firmware is closed source. The issue is that they lie about it, and they lie about what's in it.
> True, but the trust assumption pre-recovery and post recovery is still the same. First of all, it's "Recover," not recovery. The name of the service is Ledger Recover. Second: Why would anyone trust a hardware wallet that has the ability to export their keys over the internet? That defeats the entire point of using a hardware wallet. And it means Ledger hardware wallets are now no longer cold wallets. Why would anyone trust a company that turns their cold wallet into a hot wallet AFTER they bought it in order to own a cold wallet? And third: before Ledger announced Recover (or, really, before the key extraction code for Recover got outed), we didn't know Ledger was lying to us about keys never leaving Ledger devices. > "Your keys are always stored on your device and never leave it" > SOURCE: [btchip, Ledger Co-Founder, on May 14th, 2023](https://np.reddit.com/r/ledgerwallet/comments/13gs0xn/using_ledger_with_3rd_party_wallets/jk34kcn/) That was a lie. The key extraction code for Ledger Recover had already been outed by May 14th, but even worse than that, Ledger had to have been working on Recover for well over a year by that point, due to the complexity of the service (it involves multiple companies in multiple countries, not to mention each company's lawyers and the complexity of the contracts involved). So, they were lying to us about the security of Ledger devices for a long, long time. Ledger's key extraction includes other companies. What happens if those companies want to give up your keys? Here's what Ledger's CEO says: > "These companies are not slaves to Ledger. We just have commercial agreement." > [SOURCE](https://youtu.be/M3VjQUcyZSY?t=2393): Ledger CEO Pascal Gauthier > "Great, so now the Department Of Justice calls you and says "We are charging so and so with X, Y and Z. Get two of your vendors to send us the Bitcoin keys." > [SOURCE](https://youtu.be/M3VjQUcyZSY?t=2608): Harry Sudock, discussing Ledger Recover in a video interview with Ledger CEO Pascal Gauthier Ledger is dirty.
> Original nano is not compatible with Recovery Just because the Nano S isn't compatible with Ledger Recover, it doesn't mean none of the key extraction code is part of the Nano S firmware. That is really important to understand. We don't know for a fact that none of the key extraction code is part of the firmware for the Nano S. Ledger's firmware isn't open source, which means there's no way to be sure what's really in it. People keep assuming the Nano S is safe, but that's all they're doing: Assuming. Even Ledger admits they can't prove there isn't a backdoor in their code: > There's no backdoor and I obviously can't prove it > SOURCE: [btchip, Ledger owner & co-founder](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) ...they can't prove it because their code isn't open. The problem isn't Ledger Recover. The problem is key extraction code which could give Ledger, their partner companies, or even hackers access to your keys. Their code isn't open, so there's no way to prove what's in it. Anyone who says otherwise is making a dangerous assumption.
**YES.** I bailed on Ledger and I'll never go back. Ledger can't be trusted. Here's a summary of why, with links. 1: Ledger's word can't be trusted. The following was a lie: > Your keys are always stored on your device and never leave it > SOURCE: [btchip, Ledger Co-Founder, on May 14th, 2023](https://np.reddit.com/r/ledgerwallet/comments/13gs0xn/using_ledger_with_3rd_party_wallets/jk34kcn/) ...that's a lie because they added key extraction firmware to users devices. 2: Ledger's code can't be trusted. It can't be verified: > There's no backdoor and I obviously can't prove it > SOURCE: [btchip, Ledger owner & co-founder](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) ...they can't prove it because their code is closed source. 3: Ledger can't be trusted with your privacy. Their CEO said so: > "If, for you, your privacy is of the utmost importance, please do not use that product, for sure." > SOURCE: [Ledger CEO Pascal Gauthier, on video](https://youtu.be/M3VjQUcyZSY?t=2342) ...he said that about one of his own products. For sure. 4: Ledger's security can't be trusted. They've been hacked: > Ledger wallet users face mounting home invasion and other scareware threats as hacker dumps private customer information online. > SOURCE: [Cointelegraph, December 24th, 2020](https://cointelegraph.com/news/ledger-data-leak-a-simple-mistake-exposed-270k-crypto-wallet-buyers) ...they can't even keep *their* data secure. Don't trust them with your coins. 5: Ledger's security has been hacked, and yet... > "The bombshell here is the explicit confirmation that Ledger themselves hold the master decryption key for all Ledger Recover users." > SOURCE: [@sethforprivacy](https://twitter.com/sethforprivacy/status/1671532787294191618) ...what could possibly go wrong, eh? 6: Ledger refuses to answer questions. They're [deleting questions](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) in comments on their sub. They're [shadowbanning](https://np.reddit.com/r/ledgerwallet/comments/144439c/ledger_please_answer_this_question/) the users who ask them. They're [scrubbing their website](https://np.reddit.com/r/ledgerwallet/comments/13z1yew/ledger_updates_academy_articles/) to remove claims they've been making for years. They're dirty. Ledger Can't Be Trusted.
#Cosmos Con-Arguments Below is a Cosmos con-argument written by gnarley_quinn. > > THE ANTI-SHILL FOR COSMOS: > INFLATION - Much too high. Staking rewards do not offset the supply increase. > There is a significant discrepancy between the inflation calculated by Messari and CoinMarketCap versus the stated inflation from the various Cosmos ecosystem scanners. > Whether it is because of some hidden lock mechanic for some tokens, and since these values are suppose to represent the circulating supply, it is not a good look for investors to have to justify why the stated inflation does not match the calculated one. > The staking rewards are averaged at 21.57% which is below the calculated inflation value, but above the stated inflation value. The staking rewards claimed on the COSMOS website also state the average APY is less than ten percent, which is significantly lower than the stated inflation. > There is a different incentive to holding which is airdrops. Depending on snapshots, you could get lucky with an airdrop that goes ballistic. > > > SOURCE INFLATION SUPPLY TODAY SUPPLY LAST YEAR > Messari 26.60 % 286,370,297 226,186,564 > Coinmarketcap 26.66 % 286,370,297 226,127,431 > Mintscan 13.82 % 313,077,417 Not provided > Atomscan 13.82 % Not provided Not provided > Cosmoscan 13.81 % 319,984,721.29 Not provided > UTILITY - Limited use. There is no reason to hold the token other than speculation > There is actually very little utility for the ATOM token. By staking ATOM, you are able to vote in Cosmos Hub governance decisions, but that is about it. There doesn't seem to be much reason to actually hold it other than it might go up or down and thus you could sell it. For context, other projects require their token to be used for fees or NFT sales. According to cryptofees, the COSMOS chain doesn't seem to actually make any money, the projects built on it do - which still doesn't seem to give a reason to hold ATOM. > DAILY ACTIVITY - It is a mystery! > Try as I might, I could not find statistics anywhere about how many addresses are actually being used on the COSMOS chain. To me, this is a massive red flag. I can find transactions on several sites quite easily, but not being able to find statistics showing me the total number of wallets created, and what percentage of them are currently being used seems impossible. This is a massive issue in terms of transparency on the chain. > Transactions > For what its worth, the average transactions seems fairly consistent, but until I can see the number of wallets that are active, I have no way of knowing if any of these are real users, bots, or just staking rewards. > MARKETCAP DOMINANCE - Falling all year > Obviously the entire crypto asset class is down this year, but if you compare like for like, you can still get a sense of whether the token is holding up well or not. > The marketcap dominance for COSMOS is roughly half of what it was at the beginning of the year. Reaching a top of around 0.6 % of the Crypto market in February, it now sits at 0.3 %. All altcoins will lose dominance in a bear market, but you would want the crypto to hold its own in the class as much as possible. Dropping 50% is not a good thing. > The dominance picked up prior to the announcement of 2.0, but has since fallen away again. > Marketcap dominance > TOTAL VALUE LOCKED - Where is it? > This value helps understand how many people are staking COSMOS and in a sense how commited investors are to the project. Yet once again this is a figure that is difficult to ascertain. > According to DefiLlama, there is no reported TVL directly for the ATOM token. Once again, they list all the projects built on top of the blockchain. The bonded tokens provided on mintscan also seem to correlate to this value. The highest individual TVL seems to CRONOS or KAVA, but I personally dont believe the locked tokens on an individual project on a blockchain should count towards the TVL on another chain. This is not necessarily a bad thing about the TVL for the ecosystem, but it begs the question again, what is the point of holding the ATOM token? > DECENTRALISATION - Some validators have too much control of the network > There are currently \~175 validators which is gives a Nakamoto Co-efficient of just 7. This is roughly the same level of decentralisation as Binance and is a terrible score. COSMOS really needs to increase the numbers of validators quickly because the distribution of tokens across the staking validators is a significant risk. > Nakamoto Coefficient > BIGGEST COMPETITION - Polkadot still higher in most cases > All cryptos are essentially in some sort of competition with each other. Due to the rationale, goals and purpose the blockchain, the biggest competitor to COSMOS is likely POLKADOT. > Again, the crypto asset class is down, by comparing marketcap dominance, Polkadot is still more than double the marketcap of COSMOS. > While Polkadot actually has about half the number of validators as COSMOS, the staking mechanism results in a much better Nakamoto-Coefficient of 85. This means Polkadot is 12 times more decentralised than Cosmos. > \*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\* > CONCLUSION: > Holding the ATOM token is pretty much only for speculation - you may get some free stuff or see the price rise. > TLDR: Just read the bold headlines ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cosmos) to find submissions for other topics.
> WARNING CONTRACT IS CLOSED SOURCE. PROCEED WITH CAUTION This is from the link you provided
#Cosmos Con-Arguments Below is a Cosmos con-argument written by gnarley_quinn. > > THE ANTI-SHILL FOR COSMOS: > INFLATION - Much too high. Staking rewards do not offset the supply increase. > There is a significant discrepancy between the inflation calculated by Messari and CoinMarketCap versus the stated inflation from the various Cosmos ecosystem scanners. > Whether it is because of some hidden lock mechanic for some tokens, and since these values are suppose to represent the circulating supply, it is not a good look for investors to have to justify why the stated inflation does not match the calculated one. > The staking rewards are averaged at 21.57% which is below the calculated inflation value, but above the stated inflation value. The staking rewards claimed on the COSMOS website also state the average APY is less than ten percent, which is significantly lower than the stated inflation. > There is a different incentive to holding which is airdrops. Depending on snapshots, you could get lucky with an airdrop that goes ballistic. > > > SOURCE INFLATION SUPPLY TODAY SUPPLY LAST YEAR > Messari 26.60 % 286,370,297 226,186,564 > Coinmarketcap 26.66 % 286,370,297 226,127,431 > Mintscan 13.82 % 313,077,417 Not provided > Atomscan 13.82 % Not provided Not provided > Cosmoscan 13.81 % 319,984,721.29 Not provided > UTILITY - Limited use. There is no reason to hold the token other than speculation > There is actually very little utility for the ATOM token. By staking ATOM, you are able to vote in Cosmos Hub governance decisions, but that is about it. There doesn't seem to be much reason to actually hold it other than it might go up or down and thus you could sell it. For context, other projects require their token to be used for fees or NFT sales. According to cryptofees, the COSMOS chain doesn't seem to actually make any money, the projects built on it do - which still doesn't seem to give a reason to hold ATOM. > DAILY ACTIVITY - It is a mystery! > Try as I might, I could not find statistics anywhere about how many addresses are actually being used on the COSMOS chain. To me, this is a massive red flag. I can find transactions on several sites quite easily, but not being able to find statistics showing me the total number of wallets created, and what percentage of them are currently being used seems impossible. This is a massive issue in terms of transparency on the chain. > Transactions > For what its worth, the average transactions seems fairly consistent, but until I can see the number of wallets that are active, I have no way of knowing if any of these are real users, bots, or just staking rewards. > MARKETCAP DOMINANCE - Falling all year > Obviously the entire crypto asset class is down this year, but if you compare like for like, you can still get a sense of whether the token is holding up well or not. > The marketcap dominance for COSMOS is roughly half of what it was at the beginning of the year. Reaching a top of around 0.6 % of the Crypto market in February, it now sits at 0.3 %. All altcoins will lose dominance in a bear market, but you would want the crypto to hold its own in the class as much as possible. Dropping 50% is not a good thing. > The dominance picked up prior to the announcement of 2.0, but has since fallen away again. > Marketcap dominance > TOTAL VALUE LOCKED - Where is it? > This value helps understand how many people are staking COSMOS and in a sense how commited investors are to the project. Yet once again this is a figure that is difficult to ascertain. > According to DefiLlama, there is no reported TVL directly for the ATOM token. Once again, they list all the projects built on top of the blockchain. The bonded tokens provided on mintscan also seem to correlate to this value. The highest individual TVL seems to CRONOS or KAVA, but I personally dont believe the locked tokens on an individual project on a blockchain should count towards the TVL on another chain. This is not necessarily a bad thing about the TVL for the ecosystem, but it begs the question again, what is the point of holding the ATOM token? > DECENTRALISATION - Some validators have too much control of the network > There are currently \~175 validators which is gives a Nakamoto Co-efficient of just 7. This is roughly the same level of decentralisation as Binance and is a terrible score. COSMOS really needs to increase the numbers of validators quickly because the distribution of tokens across the staking validators is a significant risk. > Nakamoto Coefficient > BIGGEST COMPETITION - Polkadot still higher in most cases > All cryptos are essentially in some sort of competition with each other. Due to the rationale, goals and purpose the blockchain, the biggest competitor to COSMOS is likely POLKADOT. > Again, the crypto asset class is down, by comparing marketcap dominance, Polkadot is still more than double the marketcap of COSMOS. > While Polkadot actually has about half the number of validators as COSMOS, the staking mechanism results in a much better Nakamoto-Coefficient of 85. This means Polkadot is 12 times more decentralised than Cosmos. > \*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\* > CONCLUSION: > Holding the ATOM token is pretty much only for speculation - you may get some free stuff or see the price rise. > TLDR: Just read the bold headlines ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cosmos) to find submissions for other topics.
#Cosmos Con-Arguments Below is a Cosmos con-argument written by gnarley_quinn. > > THE ANTI-SHILL FOR COSMOS: > INFLATION - Much too high. Staking rewards do not offset the supply increase. > There is a significant discrepancy between the inflation calculated by Messari and CoinMarketCap versus the stated inflation from the various Cosmos ecosystem scanners. > Whether it is because of some hidden lock mechanic for some tokens, and since these values are suppose to represent the circulating supply, it is not a good look for investors to have to justify why the stated inflation does not match the calculated one. > The staking rewards are averaged at 21.57% which is below the calculated inflation value, but above the stated inflation value. The staking rewards claimed on the COSMOS website also state the average APY is less than ten percent, which is significantly lower than the stated inflation. > There is a different incentive to holding which is airdrops. Depending on snapshots, you could get lucky with an airdrop that goes ballistic. > > > SOURCE INFLATION SUPPLY TODAY SUPPLY LAST YEAR > Messari 26.60 % 286,370,297 226,186,564 > Coinmarketcap 26.66 % 286,370,297 226,127,431 > Mintscan 13.82 % 313,077,417 Not provided > Atomscan 13.82 % Not provided Not provided > Cosmoscan 13.81 % 319,984,721.29 Not provided > UTILITY - Limited use. There is no reason to hold the token other than speculation > There is actually very little utility for the ATOM token. By staking ATOM, you are able to vote in Cosmos Hub governance decisions, but that is about it. There doesn't seem to be much reason to actually hold it other than it might go up or down and thus you could sell it. For context, other projects require their token to be used for fees or NFT sales. According to cryptofees, the COSMOS chain doesn't seem to actually make any money, the projects built on it do - which still doesn't seem to give a reason to hold ATOM. > DAILY ACTIVITY - It is a mystery! > Try as I might, I could not find statistics anywhere about how many addresses are actually being used on the COSMOS chain. To me, this is a massive red flag. I can find transactions on several sites quite easily, but not being able to find statistics showing me the total number of wallets created, and what percentage of them are currently being used seems impossible. This is a massive issue in terms of transparency on the chain. > Transactions > For what its worth, the average transactions seems fairly consistent, but until I can see the number of wallets that are active, I have no way of knowing if any of these are real users, bots, or just staking rewards. > MARKETCAP DOMINANCE - Falling all year > Obviously the entire crypto asset class is down this year, but if you compare like for like, you can still get a sense of whether the token is holding up well or not. > The marketcap dominance for COSMOS is roughly half of what it was at the beginning of the year. Reaching a top of around 0.6 % of the Crypto market in February, it now sits at 0.3 %. All altcoins will lose dominance in a bear market, but you would want the crypto to hold its own in the class as much as possible. Dropping 50% is not a good thing. > The dominance picked up prior to the announcement of 2.0, but has since fallen away again. > Marketcap dominance > TOTAL VALUE LOCKED - Where is it? > This value helps understand how many people are staking COSMOS and in a sense how commited investors are to the project. Yet once again this is a figure that is difficult to ascertain. > According to DefiLlama, there is no reported TVL directly for the ATOM token. Once again, they list all the projects built on top of the blockchain. The bonded tokens provided on mintscan also seem to correlate to this value. The highest individual TVL seems to CRONOS or KAVA, but I personally dont believe the locked tokens on an individual project on a blockchain should count towards the TVL on another chain. This is not necessarily a bad thing about the TVL for the ecosystem, but it begs the question again, what is the point of holding the ATOM token? > DECENTRALISATION - Some validators have too much control of the network > There are currently \~175 validators which is gives a Nakamoto Co-efficient of just 7. This is roughly the same level of decentralisation as Binance and is a terrible score. COSMOS really needs to increase the numbers of validators quickly because the distribution of tokens across the staking validators is a significant risk. > Nakamoto Coefficient > BIGGEST COMPETITION - Polkadot still higher in most cases > All cryptos are essentially in some sort of competition with each other. Due to the rationale, goals and purpose the blockchain, the biggest competitor to COSMOS is likely POLKADOT. > Again, the crypto asset class is down, by comparing marketcap dominance, Polkadot is still more than double the marketcap of COSMOS. > While Polkadot actually has about half the number of validators as COSMOS, the staking mechanism results in a much better Nakamoto-Coefficient of 85. This means Polkadot is 12 times more decentralised than Cosmos. > \*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\* > CONCLUSION: > Holding the ATOM token is pretty much only for speculation - you may get some free stuff or see the price rise. > TLDR: Just read the bold headlines ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cosmos) to find submissions for other topics.
Don't listen to those idiots saying ledger. The reason ledger is not trustworthy is because it's CLOSED SOURCE. That means that you need to TRUST the company not to scam you or still your coins in the future. The whole point of crypto is that it's TRUSTLESS. So go with an open source hardware wallet like trezor.
>they publicly admitted that they could download firmware to extract seeds This goes the same for Trezor. The average person doesn't compartmentalize when it comes to dealing with this stuff. The risk of having an infected host computer with compromised firmware is just as high. Trezors didn't even have a secure element until their new model, which makes it a dilemma from those shouting from the "MUH OPEN SOURCE" crowd. There has to be *some* element of trust. Of course if you're truly concerned about proper cold storage you should be looking at fully open sourced airgapped solutions anyway.
First, don't panic or rush. Second, learn about which wallets can be trusted, OPEN SOURCE community supported wallets are the safest. If it's a lot of money, investigate offline signing, but if it isn't, you can do it online with a good amount of safety.
Any link from cointelegraph should be labeled UNRELIABLE SOURCE!! Mfuker made most alts dumped below the price before the fake news 😡
Reading books stays with you longer; is more personal; and has more of a lasting effect on people. SOURCE: me :p
When did it take place? What was the final outcome (did the guy get arrested, etc.)? How was he caught? Where was he caught? How do we know all this is true? And also, how did those bars not fall out from that plastic wrapper? And how did the guy walk with all that weight attached to him? You need to POST YOUR SOURCE.
I literally just talked about the supposed “attack vector” on the device itself that you just mentioned. It’s not possible, view the architecture of the device. You can’t just upload malicious updates Willy Nilly, the ledger device goes through a lot of anti tampering and device attestation before the OPEN SOURCE app even releases it. If you honestly think the firmware update is getting through the whole company without company going rogue itself you’re just mistaken and you should prob read how the device itself works. I did, so I’m telling you how it works, if not I can just link it to you and you read through it yourself if you want. The only attack vector introduced is the companies you export your seed phrase to.
Gee, who could have thought that adding key extraction code to their firmware would lead to a disaster? Ledger can't be trusted. For anybody who hasn't been following along, here's a summary, with links. 1: Ledger's word can't be trusted. The following was a lie: > Your keys are always stored on your device and never leave it > SOURCE: [btchip, Ledger Co-Founder, on May 14th, 2023](https://np.reddit.com/r/ledgerwallet/comments/13gs0xn/using_ledger_with_3rd_party_wallets/jk34kcn/) ...then they added key extraction firmware to users devices. 2: Ledger's code can't be trusted. It can't be verified: > There's no backdoor and I obviously can't prove it > SOURCE: [btchip, Ledger owner & co-founder](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) ...they can't prove it. We can't trust it. 3: Ledger can't be trusted with your privacy. Their CEO said so: > "If, for you, your privacy is of the utmost importance, please do not use that product, for sure." > SOURCE: [Ledger CEO Pascal Gauthier, on video](https://youtu.be/M3VjQUcyZSY?t=2342) ...he said that about one of his own products. For sure. 4: Ledger's security can't be trusted. They've been hacked: > Ledger wallet users face mounting home invasion and other scareware threats as hacker dumps private customer information online. > SOURCE: [Cointelegraph, December 24th, 2020](https://cointelegraph.com/news/ledger-data-leak-a-simple-mistake-exposed-270k-crypto-wallet-buyers) ...if they can't even keep *their* data secure, don't trust them with yours. 5: Ledger's security has been hacked, and yet... > "The bombshell here is the explicit confirmation that Ledger themselves hold the master decryption key for all Ledger Recover users." > SOURCE: [@sethforprivacy](https://twitter.com/sethforprivacy/status/1671532787294191618) ...well *that's* not good. 6: Ledger refuses to answer questions. They're [deleting questions](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) in comments on their sub. They're [shadowbanning](https://np.reddit.com/r/ledgerwallet/comments/144439c/ledger_please_answer_this_question/) the users who ask them. They're [scrubbing their website](https://np.reddit.com/r/ledgerwallet/comments/13z1yew/ledger_updates_academy_articles/) to remove claims they've been making for years. They're dirty. Ledger Can't Be Trusted.
Fidelity doesn’t low u to withdraw bitcoin from them. Yes buy BTC and put onto an OPEN SOURCE hard wallet/cold storage. Forget about it for ten years
#Cosmos Con-Arguments Below is a Cosmos con-argument written by gnarley_quinn. > > THE ANTI-SHILL FOR COSMOS: > INFLATION - Much too high. Staking rewards do not offset the supply increase. > There is a significant discrepancy between the inflation calculated by Messari and CoinMarketCap versus the stated inflation from the various Cosmos ecosystem scanners. > Whether it is because of some hidden lock mechanic for some tokens, and since these values are suppose to represent the circulating supply, it is not a good look for investors to have to justify why the stated inflation does not match the calculated one. > The staking rewards are averaged at 21.57% which is below the calculated inflation value, but above the stated inflation value. The staking rewards claimed on the COSMOS website also state the average APY is less than ten percent, which is significantly lower than the stated inflation. > There is a different incentive to holding which is airdrops. Depending on snapshots, you could get lucky with an airdrop that goes ballistic. > > > SOURCE INFLATION SUPPLY TODAY SUPPLY LAST YEAR > Messari 26.60 % 286,370,297 226,186,564 > Coinmarketcap 26.66 % 286,370,297 226,127,431 > Mintscan 13.82 % 313,077,417 Not provided > Atomscan 13.82 % Not provided Not provided > Cosmoscan 13.81 % 319,984,721.29 Not provided > UTILITY - Limited use. There is no reason to hold the token other than speculation > There is actually very little utility for the ATOM token. By staking ATOM, you are able to vote in Cosmos Hub governance decisions, but that is about it. There doesn't seem to be much reason to actually hold it other than it might go up or down and thus you could sell it. For context, other projects require their token to be used for fees or NFT sales. According to cryptofees, the COSMOS chain doesn't seem to actually make any money, the projects built on it do - which still doesn't seem to give a reason to hold ATOM. > DAILY ACTIVITY - It is a mystery! > Try as I might, I could not find statistics anywhere about how many addresses are actually being used on the COSMOS chain. To me, this is a massive red flag. I can find transactions on several sites quite easily, but not being able to find statistics showing me the total number of wallets created, and what percentage of them are currently being used seems impossible. This is a massive issue in terms of transparency on the chain. > Transactions > For what its worth, the average transactions seems fairly consistent, but until I can see the number of wallets that are active, I have no way of knowing if any of these are real users, bots, or just staking rewards. > MARKETCAP DOMINANCE - Falling all year > Obviously the entire crypto asset class is down this year, but if you compare like for like, you can still get a sense of whether the token is holding up well or not. > The marketcap dominance for COSMOS is roughly half of what it was at the beginning of the year. Reaching a top of around 0.6 % of the Crypto market in February, it now sits at 0.3 %. All altcoins will lose dominance in a bear market, but you would want the crypto to hold its own in the class as much as possible. Dropping 50% is not a good thing. > The dominance picked up prior to the announcement of 2.0, but has since fallen away again. > Marketcap dominance > TOTAL VALUE LOCKED - Where is it? > This value helps understand how many people are staking COSMOS and in a sense how commited investors are to the project. Yet once again this is a figure that is difficult to ascertain. > According to DefiLlama, there is no reported TVL directly for the ATOM token. Once again, they list all the projects built on top of the blockchain. The bonded tokens provided on mintscan also seem to correlate to this value. The highest individual TVL seems to CRONOS or KAVA, but I personally dont believe the locked tokens on an individual project on a blockchain should count towards the TVL on another chain. This is not necessarily a bad thing about the TVL for the ecosystem, but it begs the question again, what is the point of holding the ATOM token? > DECENTRALISATION - Some validators have too much control of the network > There are currently \~175 validators which is gives a Nakamoto Co-efficient of just 7. This is roughly the same level of decentralisation as Binance and is a terrible score. COSMOS really needs to increase the numbers of validators quickly because the distribution of tokens across the staking validators is a significant risk. > Nakamoto Coefficient > BIGGEST COMPETITION - Polkadot still higher in most cases > All cryptos are essentially in some sort of competition with each other. Due to the rationale, goals and purpose the blockchain, the biggest competitor to COSMOS is likely POLKADOT. > Again, the crypto asset class is down, by comparing marketcap dominance, Polkadot is still more than double the marketcap of COSMOS. > While Polkadot actually has about half the number of validators as COSMOS, the staking mechanism results in a much better Nakamoto-Coefficient of 85. This means Polkadot is 12 times more decentralised than Cosmos. > \*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\* > CONCLUSION: > Holding the ATOM token is pretty much only for speculation - you may get some free stuff or see the price rise. > TLDR: Just read the bold headlines ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cosmos) to find submissions for other topics.
#Cosmos Con-Arguments Below is a Cosmos con-argument written by gnarley_quinn. > > THE ANTI-SHILL FOR COSMOS: > INFLATION - Much too high. Staking rewards do not offset the supply increase. > There is a significant discrepancy between the inflation calculated by Messari and CoinMarketCap versus the stated inflation from the various Cosmos ecosystem scanners. > Whether it is because of some hidden lock mechanic for some tokens, and since these values are suppose to represent the circulating supply, it is not a good look for investors to have to justify why the stated inflation does not match the calculated one. > The staking rewards are averaged at 21.57% which is below the calculated inflation value, but above the stated inflation value. The staking rewards claimed on the COSMOS website also state the average APY is less than ten percent, which is significantly lower than the stated inflation. > There is a different incentive to holding which is airdrops. Depending on snapshots, you could get lucky with an airdrop that goes ballistic. > > > SOURCE INFLATION SUPPLY TODAY SUPPLY LAST YEAR > Messari 26.60 % 286,370,297 226,186,564 > Coinmarketcap 26.66 % 286,370,297 226,127,431 > Mintscan 13.82 % 313,077,417 Not provided > Atomscan 13.82 % Not provided Not provided > Cosmoscan 13.81 % 319,984,721.29 Not provided > UTILITY - Limited use. There is no reason to hold the token other than speculation > There is actually very little utility for the ATOM token. By staking ATOM, you are able to vote in Cosmos Hub governance decisions, but that is about it. There doesn't seem to be much reason to actually hold it other than it might go up or down and thus you could sell it. For context, other projects require their token to be used for fees or NFT sales. According to cryptofees, the COSMOS chain doesn't seem to actually make any money, the projects built on it do - which still doesn't seem to give a reason to hold ATOM. > DAILY ACTIVITY - It is a mystery! > Try as I might, I could not find statistics anywhere about how many addresses are actually being used on the COSMOS chain. To me, this is a massive red flag. I can find transactions on several sites quite easily, but not being able to find statistics showing me the total number of wallets created, and what percentage of them are currently being used seems impossible. This is a massive issue in terms of transparency on the chain. > Transactions > For what its worth, the average transactions seems fairly consistent, but until I can see the number of wallets that are active, I have no way of knowing if any of these are real users, bots, or just staking rewards. > MARKETCAP DOMINANCE - Falling all year > Obviously the entire crypto asset class is down this year, but if you compare like for like, you can still get a sense of whether the token is holding up well or not. > The marketcap dominance for COSMOS is roughly half of what it was at the beginning of the year. Reaching a top of around 0.6 % of the Crypto market in February, it now sits at 0.3 %. All altcoins will lose dominance in a bear market, but you would want the crypto to hold its own in the class as much as possible. Dropping 50% is not a good thing. > The dominance picked up prior to the announcement of 2.0, but has since fallen away again. > Marketcap dominance > TOTAL VALUE LOCKED - Where is it? > This value helps understand how many people are staking COSMOS and in a sense how commited investors are to the project. Yet once again this is a figure that is difficult to ascertain. > According to DefiLlama, there is no reported TVL directly for the ATOM token. Once again, they list all the projects built on top of the blockchain. The bonded tokens provided on mintscan also seem to correlate to this value. The highest individual TVL seems to CRONOS or KAVA, but I personally dont believe the locked tokens on an individual project on a blockchain should count towards the TVL on another chain. This is not necessarily a bad thing about the TVL for the ecosystem, but it begs the question again, what is the point of holding the ATOM token? > DECENTRALISATION - Some validators have too much control of the network > There are currently \~175 validators which is gives a Nakamoto Co-efficient of just 7. This is roughly the same level of decentralisation as Binance and is a terrible score. COSMOS really needs to increase the numbers of validators quickly because the distribution of tokens across the staking validators is a significant risk. > Nakamoto Coefficient > BIGGEST COMPETITION - Polkadot still higher in most cases > All cryptos are essentially in some sort of competition with each other. Due to the rationale, goals and purpose the blockchain, the biggest competitor to COSMOS is likely POLKADOT. > Again, the crypto asset class is down, by comparing marketcap dominance, Polkadot is still more than double the marketcap of COSMOS. > While Polkadot actually has about half the number of validators as COSMOS, the staking mechanism results in a much better Nakamoto-Coefficient of 85. This means Polkadot is 12 times more decentralised than Cosmos. > \*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\* > CONCLUSION: > Holding the ATOM token is pretty much only for speculation - you may get some free stuff or see the price rise. > TLDR: Just read the bold headlines ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Cosmos) to find submissions for other topics.
Of course. In fact, I'd rather address these threats by myself instead of trusting Ledger's or Coldcard's CLOSED SOURCE solutions.
Ethereum Layer 2 activity update: | # | NAME | PAST DAY TPS | 7D CHANGE | MAX DAILY TPS | 30D COUNT | DATA SOURCE | |----:|:----------------------|-------------:|----------:|-------------:|----------:|:---------------| | 1 | Base | 13.77 | +6.25% | 21.29 | 22.52 M | Blockchain RPC | | 2 | Ethereum | 12.05 | +3.82% | 22.37 | 30.45 M | Blockchain RPC | | 3 | zkSync Era | 11.15 | -10.77% | 15.25 | 29.99 M | Blockchain RPC | | 4 | Arbitrum One | 6.85 | +5.58% | 31.64 | 15.99 M | Blockchain RPC | | 5 | Starknet | 6.30 | -13.01% | 10.16 | 19.90 M | Blockchain RPC | | 6 | OP Mainnet | 3.66 | +2.80% | 10.43 | 9.75 M | Blockchain RPC | | 7 | Mantle | 2.97 | +23.36% | 4.25 | 6.79 M | Blockchain RPC | | 8 | Immutable X | 1.97 | -28.93% | 39.35 | 6.28 M | Closed API | | 9 | dYdX | 1.55 | -42.51% | 11.45 | 5.51 M | Closed API | | 10 | Arbitrum Nova | 1.32 | +23.86% | 10.93 | 2.76 M | Blockchain RPC | | 11 | ApeX | 1.31 | -10.27% | 1.64 | 3.36 M | Closed API | | 12 | Linea | 1.23 | -18.24% | 2.26 | 3.87 M | Blockchain RPC | | 13 | Sorare | 0.73 | -38.23% | 2.31 | 1.48 M | Closed API | | 14 | zkSync Lite | 0.68 | -6.87% | 3.29 | 1.99 M | Explorer API | | 15 | Zora | 0.64 | -6.23% | 1.63 | 2.37 M | Blockchain RPC | | 16 | Polygon zkEVM | 0.28 | -16.45% | 1.41 | 858 K | Blockchain RPC | | 17 | Metis Andromeda | 0.16 | -24.49% | 1.25 | 470 K | Blockchain RPC | | 18 | Myria | 0.13 | -47.07% | 10.27 | 689 K | Closed API | | 19 | Loopring | 0.04 | +15.58% | 1.48 | 86.85 K | Explorer API | | 20 | Kroma | 0.03 | +756.59% | 0.13 | 36.17 K | Blockchain RPC | source: https://l2beat.com/scaling/activity Mantle is seeing significant growth in activity. This project is planning to use EigenDA's ETH restaking technology to obtain massive Data Availability for its Rollup.
Update on the Ethereum L2 techstrate: | # | NAME | PAST DAY TPS | 7D CHANGE | MAX DAILY TPS | 30D COUNT | DATA SOURCE | |----:|:------------------|-------------:|----------:|-------------:|----------:|:-------------| | 1 | zkSync Era | 11.86 | +11.08% | 15.25 | 29.35 M | Blockchain RPC | | 2 | Ethereum | 11.74 | +0.76% | 22.37 | 30.49 M | Blockchain RPC | | 3 | Starknet | 8.69 | +26.99% | 9.01 | 14.63 M | Blockchain RPC | | 4 | Arbitrum One | 5.88 | -11.74% | 31.64 | 17.09 M | Blockchain RPC | | 5 | Base | 4.13 | +1.99% | 15.88 | 15.66 M | Blockchain RPC | | 6 | OP Mainnet | 4.02 | +1.51% | 10.43 | 12.41 M | Blockchain RPC | | 7 | Mantle | 3.04 | +23.26% | 3.04 | 4.31 M | Blockchain RPC | | 8 | Linea | 1.65 | +20.48% | 2.26 | 3.36 M | Blockchain RPC | | 9 | dYdX | 1.47 | -36.24% | 11.45 | 5.49 M | Closed API | | 10 | Immutable X | 1.45 | -21.74% | 39.35 | 6.18 M | Closed API | | 11 | ApeX | 1.00 | -18.74% | 1.47 | 2.88 M | Closed API | | 12 | Zora Network | 0.96 | +3.33% | 1.63 | 2.49 M | Blockchain RPC | | 13 | Arbitrum Nova | 0.91 | -21.03% | 10.93 | 3.33 M | Blockchain RPC | | 14 | zkSync Lite | 0.79 | +9.99% | 3.29 | 2.01 M | Explorer API | | 15 | Sorare | 0.45 | -45.85% | 2.31 | 1.62 M | Closed API | | 16 | Polygon zkEVM | 0.34 | -0.93% | 1.41 | 985 K | Blockchain RPC | | 17 | Myria | 0.22 | -27.29% | 10.27 | 470 K | Closed API | | 18 | Loopring | 0.02 | -47.12% | 1.48 | 98.97 K | Explorer API | | 19 | rhino.fi | 0.02 | -18.89% | 0.42 | 86.14 K | Closed API | | 20 | Boba Network | <0.01 | -4.55% | 0.29 | 10.83 K | Blockchain RPC | | 21 | Public Goods Network | <0.01 | -27.03% | 0.06 | 30.76 K | Blockchain RPC | | 22 | Aztec | 0.00 | -100.00% | 0.05 | 30.00 | Explorer API | via https://l2beat.com/scaling/activity The past week saw significant growth in activity among the leading L2s, with the exception of Arbitrum One, which experienced a decline. The most noteworthy uptick was StarkNet's 27% weekly increase in activity. Mantle and Linea also continued their progress up the ranking, both making it into the top 10 on the back of a greater than 20% weekly increase in activity.
The only advice i would give is that you make sure you buy an OPEN SOURCE hardware wallet thats NOT from CHINA.
Why trust a company when the open source variant is just better????? Keepass, anyone?????? Why do ya'll keep trusting companies when there is a FREE OPEN SOURCE alternative.
Cold wallets. Anybody who doesn't trust himself or herself to secure their seed words probably shouldn't be in crypto in the first place. Step 1: Write down your seed words on paper. Then make a backup on metal (Cryptosteel, for example). Step 2: Put your paper and metal backup somewhere only you have access to. Somewhere you'll never forget. Step 3: Create a repeating reminder in your calendar app that says something like "Confirm my seed and check my wallet." Have it repeat once every six months. This may seem like overkill now, but as your crypto holdings increase, you'll realize how important it is to check up on things. Last, but not least: DON'T USE A LEDGER. For a trustworthy cold wallet, don't trust any code that can't be verified. For example: Do Ledger wallets have a backdoor? > There's no backdoor and I obviously can't prove it > SOURCE: [btchip, Ledger owner & co-founder](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) ...they can't prove it. That means you can't trust it. Don't trust companies that aren't honest. The following was a lie: > Your keys are always stored on your device and never leave it > SOURCE: [btchip, Ledger Co-Founder, on May 14th, 2023](https://np.reddit.com/r/ledgerwallet/comments/13gs0xn/using_ledger_with_3rd_party_wallets/jk34kcn/) ...then Ledger added key extraction firmware to users devices. Don't trust companies that sell products which risk your privacy: > "If, for you, your privacy is of the utmost importance, please do not use that product, for sure." > SOURCE: [Ledger CEO Pascal Gauthier, on video](https://youtu.be/M3VjQUcyZSY?t=2342) ...he said that about one of his own products. For sure. Don't trust companies that can't even keep their data secure. Ledger has been hacked: > Ledger wallet users face mounting home invasion and other scareware threats as hacker dumps private customer information online. > SOURCE: [Cointelegraph, December 24th, 2020](https://cointelegraph.com/news/ledger-data-leak-a-simple-mistake-exposed-270k-crypto-wallet-buyers) ...if they can't even keep *their* data secure, don't trust them with yours. And don't trust companies that refuse to answer questions: Ledger is [deleting questions](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) in comments on their sub. Ledger is [shadowbanning](https://np.reddit.com/r/ledgerwallet/comments/144439c/ledger_please_answer_this_question/) the users who ask them. Ledger is [scrubbing their website](https://np.reddit.com/r/ledgerwallet/comments/13z1yew/ledger_updates_academy_articles/) to remove claims they've been making for years. Ledger is dirty. Ledger Can't Be Trusted. So, if anyone has read this far, maybe you're wondering which hardware wallets you CAN trust. Lots! ColdCard, Jade, Trezor, SeedSigner (one of my personal favorites) and others... basically, look for open source code. Open source all the way. And eff Ledger. They're dirty.
That because Bitcoin has a CVE list it's a bad (OPEN SOURCE) project.
Reposting this for exposure, Ethereum Layer 2 activity over the last week: | # | NAME | PAST DAY TPS | 7D CHANGE | MAX DAILY TPS | 30D COUNT | DATA SOURCE | |----:|:------------------|-------------:|----------:|-------------:|----------:|:-------------| | 1 | Ethereum | 12.10 | -2.86% | 22.37 | 30.97 M | Blockchain RPC | | 2 | zkSync Era | 11.69 | +34.93% | 13.44 | 27.62 M | Blockchain RPC | | 3 | Base | 8.60 | +73.74% | 15.88 | 13.39 M | Blockchain RPC | | 4 | Arbitrum One | 7.05 | +2.38% | 31.64 | 18.56 M | Blockchain RPC | | 5 | OP Mainnet | 5.00 | -29.31% | 10.43 | 17.78 M | Blockchain RPC | | 6 | Starknet | 4.95 | +52.14% | 6.49 | 9.65 M | Blockchain RPC | | 7 | Immutable X | 3.56 | -8.20% | 39.35 | 6.05 M | Closed API | | 8 | dYdX | 2.46 | -21.79% | 11.45 | 6.07 M | Closed API | | 9 | Arbitrum Nova | 1.70 | +30.14% | 10.93 | 3.75 M | Blockchain RPC | | 10 | Linea | 1.35 | +85.01% | 1.63 | 2.71 M | Blockchain RPC | | 11 | Mantle | 1.34 | +13.74% | 1.63 | 2.71 M | Blockchain RPC | | 12 | Zora Network | 1.24 | -6.78% | 1.63 | 1.62 M | Blockchain RPC | | 13 | ApeX | 0.92 | -22.19% | 1.38 | 2.56 M | Closed API | | 14 | zkSync Lite | 0.81 | +41.47% | 3.29 | 1.94 M | Explorer API | | 15 | Sorare | 0.80 | +21.05% | 2.31 | 1.43 M | Closed API | | 16 | Polygon zkEVM | 0.43 | +29.12% | 1.41 | 1.75 M | Blockchain RPC | | 17 | Metis Andromeda | 0.37 | +43.42% | 1.25 | 747 K | Blockchain RPC | | 18 | Myria | 0.07 | -50.16% | 10.27 | 451 K | Closed API | | 19 | Loopring | 0.04 | +18.46% | 1.48 | 130 K | Explorer API | | 20 | rhino.fi | 0.04 | +23.77% | 0.42 | 123 K | Closed API | | 21 | Public Goods Network | 0.02 | +41.62% | 0.02 | 19.28 K | Blockchain RPC | | 22 | Boba Network | <0.01 | +32.50% | 0.29 | 12.44 K | Blockchain RPC | | 23 | Aztec | <0.01 | +0.00% | 0.05 | 106 | Explorer API | via: https://l2beat.com/scaling/activity L2s continue to see surging activity. Major growth in activity was seen on several of major Rollups: zkSync Era, StarkNet, and the newcomer–which also saw rapid growth in the prior week—Coinbase's Base. Another highlight is Arbitrum Nova, which is a massively scalable Ethereum-based validium and home to Reddit Community Points (MOON and BRICK). It followed the prior week's trend and saw rapid activity growth.
Ethereum Layer 2 activity over the last week: | # | NAME | PAST DAY TPS | 7D CHANGE | MAX DAILY TPS | 30D COUNT | DATA SOURCE | |----:|:------------------|-------------:|----------:|-------------:|----------:|:-------------| | 1 | Ethereum | 12.10 | -2.86% | 22.37 | 30.97 M | Blockchain RPC | | 2 | zkSync Era | 11.69 | +34.93% | 13.44 | 27.62 M | Blockchain RPC | | 3 | Base | 8.60 | +73.74% | 15.88 | 13.39 M | Blockchain RPC | | 4 | Arbitrum One | 7.05 | +2.38% | 31.64 | 18.56 M | Blockchain RPC | | 5 | OP Mainnet | 5.00 | -29.31% | 10.43 | 17.78 M | Blockchain RPC | | 6 | Starknet | 4.95 | +52.14% | 6.49 | 9.65 M | Blockchain RPC | | 7 | Immutable X | 3.56 | -8.20% | 39.35 | 6.05 M | Closed API | | 8 | dYdX | 2.46 | -21.79% | 11.45 | 6.07 M | Closed API | | 9 | Arbitrum Nova | 1.70 | +30.14% | 10.93 | 3.75 M | Blockchain RPC | | 10 | Linea | 1.35 | +85.01% | 1.63 | 2.71 M | Blockchain RPC | | 11 | Mantle | 1.34 | +13.74% | 1.63 | 2.71 M | Blockchain RPC | | 12 | Zora Network | 1.24 | -6.78% | 1.63 | 1.62 M | Blockchain RPC | | 13 | ApeX | 0.92 | -22.19% | 1.38 | 2.56 M | Closed API | | 14 | zkSync Lite | 0.81 | +41.47% | 3.29 | 1.94 M | Explorer API | | 15 | Sorare | 0.80 | +21.05% | 2.31 | 1.43 M | Closed API | | 16 | Polygon zkEVM | 0.43 | +29.12% | 1.41 | 1.75 M | Blockchain RPC | | 17 | Metis Andromeda | 0.37 | +43.42% | 1.25 | 747 K | Blockchain RPC | | 18 | Myria | 0.07 | -50.16% | 10.27 | 451 K | Closed API | | 19 | Loopring | 0.04 | +18.46% | 1.48 | 130 K | Explorer API | | 20 | rhino.fi | 0.04 | +23.77% | 0.42 | 123 K | Closed API | | 21 | Public Goods Network | 0.02 | +41.62% | 0.02 | 19.28 K | Blockchain RPC | | 22 | Boba Network | <0.01 | +32.50% | 0.29 | 12.44 K | Blockchain RPC | | 23 | Aztec | <0.01 | +0.00% | 0.05 | 106 | Explorer API | via: https://l2beat.com/scaling/activity L2s continue to see surging activity. Major growth in activity was seen on several of major Rollups: zkSync Era, StarkNet, and the newcomer–which also saw rapid growth in the prior week—Coinbase's Base. Another highlight is Arbitrum Nova, which is a massively scalable Ethereum-based validium and home to Reddit Community Points (MOON and BRICK). It followed the prior week's trend and saw rapid activity growth.
Maybe asking here is ONE SOURCE OF INFORMATION and using that to cross-reference? Does it make you feel good trying to bash on others? You just look plain pathetic to me, where's your self-worth? Nowhere to be found obviously.
Africa actually has one of the best crypto adoption rates right now with the worlds highest rate of retail crypto payments (80%. Insane!) Source: [SOURCE](https://www.coindesk.com/business/2022/09/29/crypto-is-quietly-thriving-in-sub-saharan-africa-chainalysis-report/?outputType=amp) They even created a way to send btc p2p using just sms to get around the lack or smart phones! [SOURCE](https://www.coindesk.com/tech/2022/12/20/machankuras-bitcoin-wallet-targets-africans-with-old-school-phones-and-no-internet/?outputType=amp) Considering the weak local governments and unstable currencies, plus lack of bank infrastructure there, it’s definitely one of the prime use case countries to show how true crypto adoption will work in the main stream. Also given how much they have been absolutely exploited by foreign powers over history, it may be what truly breaks them from the shackles of the World Bank’s monetary policies.
Ledger recently built key extraction APIs into their firmware. Oh, whoa, holy hell, no. That's when I bailed on their hardware. API stands for Application Programming Interface. An API is basically a list of commands that, when received, output info or execute a function. For example, if you have Philips Hue smart lights, your lights have an API that allows apps to set your lights to whatever color, at whatever brightness and saturation. Pretty cool! Ledger added APIs on Ledger hardware to do KEY EXTRACTION. Granted, there are safety precautions in place, but still... Ledger hardware isn't supposed to have the ability to send the keys over the internet. That's what Ledger told us for YEARS. Then they wrote the code to do it and they put that code on our devices as part of the firmware. Hell no. That's not ok. [Here's more info, with quotes from Ledger](https://www.reddit.com/r/Bitcoin/comments/15uuhex/after_whats_felt_like_an_eternity_of_buying_2/jwu3ygy/), but this one quote pretty much says it all: > There's no backdoor and I obviously can't prove it > SOURCE: [btchip, Ledger owner & co-founder](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) ...they can't prove their hardware doesn't have backdoors that can be exploited by them, by other companies, or by hackers?!?!? ...they can't prove their hardware is SAFE?!?!? Hell no. I'm done with Ledger.
Ledger has gone evil. They're now implementing key extraction firmware even if you don't subscribe to their upcoming "Recover" subscription service. [I posted a thorough explanation HERE](https://www.reddit.com/r/Bitcoin/comments/15uuhex/after_whats_felt_like_an_eternity_of_buying_2/jwu3ygy/). But here's a few quick highlights: > There's no backdoor and I obviously can't prove it > SOURCE: [btchip, Ledger owner & co-founder](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) Can't prove it? Efffff THAT. > "If, for you, your privacy is of the utmost importance, please do not use that product, for sure." > SOURCE: [Ledger CEO Pascal Gauthier, on video](https://youtu.be/M3VjQUcyZSY?t=2342) ...he said that about one of his own products? EFFF THAT. [Read the whole comment HERE](https://www.reddit.com/r/Bitcoin/comments/15uuhex/after_whats_felt_like_an_eternity_of_buying_2/jwu3ygy/). Ledger is evil. They used to be great (or maybe they've always been evil but fooled some of us, myself included?). Ledger can't be trusted.
TLDR of that Incident: On October 6th, Binance’s BSC Token Hub cross-chain bridge was exploited by hackers who drained $570 million worth of assets from it. Binance halted Binance Smart Chain and managed to freeze $7 million in funds after pushing an update that froze accounts. For Further Details: [SOURCE 1](https://www.bankinfosecurity.com/binance-restores-cross-chain-bridge-after-569m-attack-a-20227) [SOURCE 2](https://www.pymnts.com/news/security-and-risk/2022/binance-back-in-action-following-100m-cross-chain-bridge-hack/)
WHY IS THIS MARKED UNRELIABLE SOURCE ^(It seems like a perfectly reasonable way to predict pricing)
More to the point, he is now on a list…. Change his phone number, change his email. If he isn’t strong enough to say no they will recycle his data and badger him endlessly. They will also tell him NOT to tell anyone in his family or his bank or his friends… Also ensure he hasn’t downloaded any apps or given any access rights up for any bank or coinbase or any other exchange. These guys don’t just say invest 2k, they say we will do it for you and wheedle out the means to do so. REMEMBER HE IS ON A LIST NOW! SOURCE: 2 of my employees got stung by a similar boiler room and even after it all came out and even when shown them their wallet address was fake and the cascade of their money through multiple wallets that they had transacted to and that they had zero bitcoins not three like they thought they still were targeted with calls and emails and messages that they could be helped to shift their funds off exchange with just another deposit to cover transaction fees etc etc. These guys will keep coming until you break contact lines. P.S. we recovered their funds through their bank as they even went to the bank to ask for a loan to ‘buy more Bitcoin’ at the behest of the scammers and the bank did sweet fa to stop it.
Check out the Ethereum Layer 2 space, where most of the growth now is. Here is a snapshot of Ethereum Layer 2 activity, to give you a 'lay of the land': | # | NAME | PAST DAY TPS | 7D CHANGE | MAX DAILY TPS | 30D COUNT | DATA SOURCE | |----:|:-------------------------|-------------:|----------:|-------------:|------------:|:--------------| | 1 | Ethereum | 12.01 | -1.12% | 22.37 | 31.31 M | Blockchain RPC | | 2 | zkSync Era | 10.21 | -0.93% | 12.85 | 27.01 M | Blockchain RPC | | 3 | Base | 8.76 | +46.48% | 8.76 | 6.31 M | Blockchain RPC | | 4 | Arbitrum One | 7.16 | +8.39% | 31.64 | 20.26 M | Blockchain RPC | | 5 | OP Mainnet | 6.62 | -18.81% | 10.93 | 19.50 M | Blockchain RPC | | 6 | Starknet | 3.88 | +23.71% | 6.49 | 7.76 M | Blockchain RPC | | 7 | Immutable X | 1.91 | -18.90% | 39.35 | 5.70 M | Closed API | | 8 | Arbitrum Nova | 1.73 | +7.44% | 10.93 | 3.81 M | Blockchain RPC | | 9 | dYdX | 1.50 | -42.04% | 11.45 | 7.41 M | Closed API | | 10 | Mantle | 1.40 | +37.61% | 1.63 | 1.46 M | Blockchain RPC | | 11 | Linea | 1.06 | +16.62% | 1.63 | 2.38 M | Blockchain RPC | | 12 | ApeX | 0.97 | -9.22% | 1.38 | 2.56 M | Closed API | | 13 | Zora Network | 0.90 | +6.00% | 1.00 | 1.96 M | Blockchain RPC | | 14 | zkSync Lite | 0.70 | -2.57% | 3.29 | 2.06 M | Explorer API | | 15 | Sorare | 0.66 | +26.58% | 2.31 | 1.13 M | Closed API | | 16 | Public Goods Network | 0.50 | -1.07% | 0.51 | 1.30 M | Blockchain RPC | | 17 | Polygon zkEVM | 0.42 | -65.49% | 1.41 | 1.91 M | Blockchain RPC | | 18 | Metis Andromeda | 0.26 | -16.34% | 1.25 | 822 K | Blockchain RPC | | 19 | Myria | 0.24 | +0.00% | 10.27 | 570 K | Closed API | | 20 | rhino.fi | 0.07 | +36.04% | 0.42 | 181 K | Closed API | | 21 | Loopring | 0.04 | -14.65% | 1.48 | 132 K | Explorer API | | 22 | Boba Network | 0.02 | +312.57% | 0.29 | 12.43 K | Blockchain RPC | | 23 | Aztec | 0.00 | +0.00% | 0.05 | 95.00 | Explorer API | via https://l2beat.com/scaling/activity Base continues to see surging activity. Arbitrum Nova, which is where Reddit's community points (minus Donuts) are hosted, also saw significant growth, likely due to the recent price gains seen in MOON and BRICK. Other notable surges: StarkNet, the zkSTARK based Rollup, Mantle which uses ETH re-staking technology through EigenLayer’s EigenDA to achieve massive scalability, and Sorare, which is a StarkEx-based Validium focused on digital collectibles.