Great write up. My heart breaks for those who lost coins. I do see so many folks who didn’t lose coins completely ditching the Cold Card Q and other newer models. I was lucky enough to have generated an old school dice roll and make my seed phrase. The Cold Card Q is still a fantastic air gapped cold storage device. Some folks act like it can never be used ever again. What they did with this bug though can not go without some type of consequence (little to no sales or winding down of the company) trust has clearly been lost and it will be very interesting to see how Coin kite and Cold Card handle this going forward.
Um, which risk category does someone fall into if they used the full number of recommended dice rolls, as in the coldcard paranoid setup guide? I would argue 🟢 but I think it’s a weird omission in your post.
Most likely green, however out of an abundance of caution, I would personally say Medium. I did consider that case, but I also felt it was safer to lean cautious and put them in Medium (because it's hard to verify and folks may not remember if they did the full 100 rolls etc).
Could you add a Chinese audio track to your YouTube videos? I noticed that audio tracks are available in 21 other languages, but Chinese isn’t one of them. I’m curious—why is there no Chinese audio track?
Ive never used one, so cannot speak to it directly. I mentioned it as one of the three, but I didn't want to take a position on hardware at this time as I can only speak to devices I have personally owned.
Definitely get yourself one. It will be the only thing you recommend to anyone after you see how easy AND secure it is! I will personally cover the cost for a Bitkey for you and every member on your team. Just email me at my subscriber email address or message me on Telegram. I’m an Orange member. I’ll send you the bitcoin to cover the cost for a Bitkey for you and one for every member of your team.
Another good detail is for people to consider diversifying wallets and custodial arrangements. If you’re going to self-custody bitcoin it literally means being your own fully-reserved, non-fractional reserve bank. Take it as a really serious responsibility.
I use seed signer met the guy who invented this at Bitcoin conference in las Vegas he was employed by FBI and LA police department to break into seized phones and laptops. I believe his system although complicated is excellent
I'll reply with the same as noted in a similar question above:
Most likely green, however out of an abundance of caution, I would personally say Medium. I did consider that case, but I also felt it was safer to lean cautious and put them in Medium (because it's hard to verify and folks may not remember if they did the full 100 rolls etc).
Just to add: if you have a 2 of 3 multisig with one coldcard, you are fine. I would still move coins (as one key is compromised) but there is no rush. If you have 2 or 3 coldcards in that setup you obviously will be drained and have to move coins asap / now.
Also: do not save on fees. Try to get into the next block. Pay a little more. People will be getting their transactions sniped...
God, this sucks, I love(ed) the cold card devices.
Great write up. My heart breaks for those who lost coins. I do see so many folks who didn’t lose coins completely ditching the Cold Card Q and other newer models. I was lucky enough to have generated an old school dice roll and make my seed phrase. The Cold Card Q is still a fantastic air gapped cold storage device. Some folks act like it can never be used ever again. What they did with this bug though can not go without some type of consequence (little to no sales or winding down of the company) trust has clearly been lost and it will be very interesting to see how Coin kite and Cold Card handle this going forward.
If CoinKite is going to survive, I can’t see them surviving without making everything 100% open source.
Um, which risk category does someone fall into if they used the full number of recommended dice rolls, as in the coldcard paranoid setup guide? I would argue 🟢 but I think it’s a weird omission in your post.
Most likely green, however out of an abundance of caution, I would personally say Medium. I did consider that case, but I also felt it was safer to lean cautious and put them in Medium (because it's hard to verify and folks may not remember if they did the full 100 rolls etc).
Appreciate you James!
Thanks James
Could you add a Chinese audio track to your YouTube videos? I noticed that audio tracks are available in 21 other languages, but Chinese isn’t one of them. I’m curious—why is there no Chinese audio track?
I believe it should render eventually. Youtube sometimes takes a little bit of time to work through all the languages, but it will appear eventually.
James, you are truly remarkable. Thank you so much.
Bitkey has BY FAR the fewest trade-offs of any secure setup. Just curious, why don’t you recommend Bitkey much more explicitly?
Ive never used one, so cannot speak to it directly. I mentioned it as one of the three, but I didn't want to take a position on hardware at this time as I can only speak to devices I have personally owned.
Definitely get yourself one. It will be the only thing you recommend to anyone after you see how easy AND secure it is! I will personally cover the cost for a Bitkey for you and every member on your team. Just email me at my subscriber email address or message me on Telegram. I’m an Orange member. I’ll send you the bitcoin to cover the cost for a Bitkey for you and one for every member of your team.
Thanks James.
Another good detail is for people to consider diversifying wallets and custodial arrangements. If you’re going to self-custody bitcoin it literally means being your own fully-reserved, non-fractional reserve bank. Take it as a really serious responsibility.
Bitcoiners will get through this.
I use seed signer met the guy who invented this at Bitcoin conference in las Vegas he was employed by FBI and LA police department to break into seized phones and laptops. I believe his system although complicated is excellent
I would love to hear your thoughts Cheers Terry
Seed Signer is very complicated for non technical fgolks. Certainly an option, but it is not for most people imho.
Medium risk- dice roll on a coldcard? My understanding was with a dice roll 100x your entropy is fine, even if on coldcard.
https://blog.coinkite.com/coldcard-mk3-seed-generation-warning/
Fewer than 50 rolls is a problem, 50-98 provides 128 bit security and >98 is 256 bit security
I'll reply with the same as noted in a similar question above:
Most likely green, however out of an abundance of caution, I would personally say Medium. I did consider that case, but I also felt it was safer to lean cautious and put them in Medium (because it's hard to verify and folks may not remember if they did the full 100 rolls etc).
Just to add: if you have a 2 of 3 multisig with one coldcard, you are fine. I would still move coins (as one key is compromised) but there is no rush. If you have 2 or 3 coldcards in that setup you obviously will be drained and have to move coins asap / now.
Also: do not save on fees. Try to get into the next block. Pay a little more. People will be getting their transactions sniped...
God, this sucks, I love(ed) the cold card devices.