Comment

Comment on Is the blockchain an interesting innovation, aside from cryptocurrencies ?

you are talking to someone whos been doing cryptography since the 90s, the answer hasn’t changed since then, you cant

So we can’t trust hardware wallets then. Isn’t that… a problem? Something that needs to be solved?

This is pretty fundamental to the entirety of blockchain. If we can’t trust that Alice is truly Alice, then where the hell is everything else built on top of this crap?

Do I use them for my personal stuff? No, the vast majority of my holdings are stored in physical cold wallets.

Why do you trust that cold wallet? Are you sure they didn’t leak the key somehow? We’ve already established that there’s no trust or reason to trust them.

source

Sort:hotnew top

manitcor@lemmy.intai.tech ⁨1⁩ ⁨year⁩ ago

So we can’t trust hardware wallets then. Isn’t that… a problem? Something that needs to be solved?

yup, huge one, something I have sat across the table from the engineers of some of the leading hardware wallet companies and asking them to address. so far what I see are a bunch of companies lining up to say “trust me bro”, I look forward to better options though I suspect that no matter how you cut it, due to people wanting convince it will still be you trusting someone, its just a question of how tight your grip on thier throat is. or you go techno-hermit and build your own kit if you really need something digital.

Why do you trust that cold wallet? Are you sure they didn’t leak the key somehow? We’ve already established that there’s no trust or reason to trust them.

Its a physical set of steel discs with the key encoded on them, locked in a safe with a copy locked in an off-location safe. they leak about as much as one might expect things in your safe might leak. do you control these places? I often think about systems like this looking top provide tiers of control and ownership, you own your accounts legally, physically AND technically. a data breech at a bank using this system drains only the banks accounts, yours are fine (assuming a correct fail-safe desgin)

If I were a cryptocoin blackhat, I’d sell a bunch of broken RNGs to the idiotic cold-wallet people and slowly steal money from them over the next 20 years. Its like the easiest steal ever, the entire crytpocoin community is completely blind to how fucking stupid they are.

You should get on that, I’m sure it will work really well, you realize there have been people working on satoshi’s cold wallets for over a decade? When this cryptography breaks it will be an advance in quantum tech and we will all be boned.

Are you sure that those people who think they’ve “forgotten their passphrase” really forgot their passphrase? What if its the cold-wallet that betrayed them?

Wow, a band of rng guessing thieves only targeting wallets that have been lost by those who would reasonably believe they forgot or lost access to thier key, this sounds like a script hollywood will need in its new AI future!

source
- dragontamer@lemmy.world ⁨1⁩ ⁨year⁩ ago
  hmac(passphrase, “one”) -> seed used to create the private key.
  
  Its so god damn simple man. Passphrase is the key. Standardize the solution so that when Hmac(passphrase, ‘one’) emits the same private key on two separate devices, we know that their code is legitimate. Run tests on commercial solutions to make sure they emit the standard answer to a set of publicly known private-keys (as well as a few personal tests to ensure it works on your end) and bam, problem solved.
  
  You’re telling me that all the best cryptocoin wallet peeps can’t come up with a college-textbook answer like that?
  
  source
  - manitcor@lemmy.intai.tech ⁨1⁩ ⁨year⁩ ago
    thats how it works, im not sure what you are getting at?
    
    source
    dragontamer@lemmy.world ⁨1⁩ ⁨year⁩ ago
    Oh really, wallet hardware companies are publishing the hmac and algorithm used to go from passphrase to private key?
    
    source
    -> View More Comments