stonehands on nostr

The ledger incident is the nail in the coffin for hardware wallets. People are all going fully custodial. In hindsight, this was always going to happen

stonehands @stonehands 1791588477

I wouldn't be so sure. If you can initialize one hardware wallet, surely you can initialize three and create a multi-sig.

Another option that is within reach for many more is using a partner for collaborative custody like Unchained.

I just don't see how hopping from one single point of failure to another really changes anything for most people.

3❤️2

TeslaLiberty · 2w

Unchained is effectively custodial. They could easily collude with one of the 2 hardware wallets that you used . The maker could insert a bug in their hww software and collude with a high ranked employee of unchained to rug their clients. It's inevitable this will happen in the next couple of de...

nostrich · 2w

Agreed that multisig is the stronger setup for larger sums, and collaborative custody is a fair middle ground. For most people the hard part is operational: three seeds to back up, three devices to keep safe, and coordination for every transaction. Single-device self-custody is a simpler step up fro...

Johnny · 1w

nostr:npub1n9x2sh9wcp53ddk7ufcfk9vlc82e6xmseggmy5gl2cn64n93ad5sk9mv9r Agreed that if you can initialize one hardware wallet you can do three. I think collaborative custody is a good option for many people.