- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Official CryptoTalk Thread
Posted on 3/9/21 at 10:04 pm to BLM
Posted on 3/9/21 at 10:04 pm to BLM
quote:
Seems like somebody like Apple will come along and create a secure wallet for your phone to keep your BTC. It just needs to develop to that point and ppl won’t even think twice about interacting with it.
There have been some projects that attempted to use the trusted execution environment on certain processors for this purpose, but there aren't yet a lot of hardware options specialized for this type of use case. As you said, It's going to take an Apple/Google/Samsung sized investment to make an equivalent for mobile devices.
This post was edited on 3/9/21 at 10:07 pm
1
Posted on 3/9/21 at 10:06 pm to keakdasneak
quote:
coins are on the blockchain. They do not leave the blockchain. you have an address on the blockchain. your wallet stores your private key that gives you access to the address on the blockchain. If you haven't researched wallets you are much better leaving your funds in an exchange as you're not going to understand basic opsec to protect your private key.
Very sound advice.
If someone doesn't yet understand the basics of how it works and how to protect his keys, then he needs make it a priority in his life.
Posted on 3/9/21 at 10:07 pm to ChuckO1975
Coinbase Wallet (not Coinbase exchange) is basically a mobile wallet that lets you interact with contacts and easily send and receive all types of crypto
Posted on 3/9/21 at 10:08 pm to dagrippa
quote:
if this run had any more juice it would kill his wife and a waiter
LMFAO
Posted on 3/9/21 at 10:12 pm to finchmeister08
quote:
I understand the sense of having your coin in you’re own personal wallet, but I feel more uncomfortable with them on my computer that could also crash and fry at any moment. It’d be a rare occurrence, but it could still happen. It’s kinda why I don’t keep my current normal fiat savings in my back pocket with my normal wallet. Me losing it seems more probable in my pocket than it does at a bank.
How Does Bitcoin Work? 3blue1brown Video
Take 25 minutes and watch that video. It will open your eyes to the basics of these networks and change the way you evaluate risk.
Posted on 3/9/21 at 10:16 pm to CE Tiger
quote:
Coinbase Wallet (not Coinbase exchange) is basically a mobile wallet that lets you interact with contacts and easily send and receive all types of crypto
Right, it's a nice version of a custodial wallet. Not the same as having your keys on your hardware, which is what I was talking about.
Posted on 3/9/21 at 10:38 pm to ChuckO1975
You own your own keys for it on your phone. Not custodial.
Posted on 3/9/21 at 11:09 pm to BLM
Computer wise I'm an idiot. However I have a ledger x and ledger s linked as backup. Its not difficult
Posted on 3/9/21 at 11:11 pm to SUG
This guy doesn’t have a lot of faith in Coinbase.
Posted on 3/9/21 at 11:34 pm to finchmeister08
lol, coinbase needed to pass extensive auditing before the IPO. i really do not understand why so many people live in fear and then spread that fear to others. its fascinating to me
Posted on 3/9/21 at 11:35 pm to CE Tiger
quote:
You own your own keys for it on your phone. Not custodial
Yep, you're right about it being non-custodial, but my point stands about the hardware issue. I just looked at their standalone wallet app after I read your comment, which I hadn't looked at before. keys are stored on the phone hardware (not purpose built for this) or, shockingly the Google Drive Cloud service. Given the number of attack angles offered by mobile software, I can't imagine actually using this wallet as a primary option. Might as well use exodus or any of the other similarly designed wallets really.
This post was edited on 3/9/21 at 11:37 pm
Posted on 3/9/21 at 11:39 pm to SUG
quote:
Computer wise I'm an idiot. However I have a ledger x and ledger s linked as backup. Its not difficult
It really isnt that difficult. Ledger, backup ledger, safely stored recovery phrase kept separately. I like the cryptosteel system personally, though it's not cheap.
Posted on 3/9/21 at 11:42 pm to finchmeister08
quote:
This guy doesn’t have a lot of faith in Coinbase.
Healthy scepticism is a good idea, but this guy is just talking shite on the internet man. Coinbase has had a hand up their arse with regulators since day 1, with the goal of being the number one legitimate exchange. They are the premier game in town, without question.
Posted on 3/10/21 at 7:26 am to ChuckO1975
is BTC goign to break it's all time high today!!!
Posted on 3/10/21 at 7:43 am to ChuckO1975
quote:
keys are stored on the phone hardware (not purpose built for this) or, shockingly the Google Drive Cloud service.
There’s biometric authorization (Face ID) needed for every transaction. It’s optional to back up your keys to a cloud service as an added security measure but you have your own keys and Coinbase servers never see them. Also allows Wallet Link to interact with Bancor, uniswap, etc
quote:
How do I protect against losing access to my funds? Coinbase Wallet is a user-controlled, non-custodial product. The app generates a 12 word recovery phrase which is what gives you, and only you, access to your account to move received funds. Coinbase will never have access to this seed, meaning that we cannot move funds on your behalf even if you lose access to your recovery phrase. We built an encrypted Google Drive and iCloud recovery phrase backup feature to help protect against seed loss. We encourage you to back up your recovery phrase using both the cloud backup feature as well as writing down your recovery phrase and storing it in a secure location. To access the backup features, tap Settings, and then Recovery Phrase.
This post was edited on 3/10/21 at 7:45 am
Posted on 3/10/21 at 7:57 am to CE Tiger
I'm glad you mentioned it, because until you did I had never looked at the standalone CB wallet. It's a well designed wallet for sure.
Unfortunately, there is no escaping the security problems inherent to mobile operating systems and software wallets until someone develops a mobile device with a sandbox specifically for holding keys and passwords, and that's going to require a specialized hardware solution, which is going to require wide scale demand to offset costs.
For now, the minor inconvenience of using a Ledger or Trezor+PW is a better option IMO. I personally have no use for software wallets except to serve as a GUI for a hardware wallet, but I can understand why people use them.
Unfortunately, there is no escaping the security problems inherent to mobile operating systems and software wallets until someone develops a mobile device with a sandbox specifically for holding keys and passwords, and that's going to require a specialized hardware solution, which is going to require wide scale demand to offset costs.
For now, the minor inconvenience of using a Ledger or Trezor+PW is a better option IMO. I personally have no use for software wallets except to serve as a GUI for a hardware wallet, but I can understand why people use them.
Posted on 3/10/21 at 7:59 am to finchmeister08
quote:
is BTC goign to break it's all time high today!!!
Yeah I think we will see mid 60s probably. Hard to predict, but once BTC started going sideways in the 40s it was written on the wall.
Posted on 3/10/21 at 9:11 am to ChuckO1975
What the best exchange for trading alt coins living in the US? Can we use Binance here?
Posted on 3/10/21 at 9:17 am to Stagliano
quote:
Can we use Binance here?
you have to use Binance.us
Page 1305 of 2241
Popular
Back to top
Follow TigerDroppings for LSU Football News