Replies (120)
I fall into that camp (100 dice roll + passphrase) - the problem is I still can’t imagine how human entropy, albeit ontop of faulty RNG, is worse than a hot-wallet
It's okay sir more is coming , I am just on stand by waiting for the real building to begin.
This company was championed and the herd blindly followed... What happened to core ethos of dont trust verify?... Unfortunately this absolute blind trust & championing led to slaughter of many core bitcoiners, many losing years of their life's energy, drained in a few seconds and there is many more victims to come.. For the most critical element of 'self sovereignity', why do the many technically capable user need to trust a company / software / hardware provider.. There is always that 0.01% risk from a third party, are you prepared to chance!... Get a piece of paper, flip some real coins or roll real dice, generate 'real trustless entropy' with your own hands!.. The bitcoin community needs to pivot back to the basics!
Stay humble and stack sats.
Why is a company you have invested in still selling defective products with only a disclaimer? This is disgusting, abhorrent behavior.
🤦♂️💀
Dang,169$ for trash?
It's more that someone who would fuck up the encryption on a Bitcoin wallet should be assumed to be generally incompetent.
More like reparations.
My general impression is that funding and investment for Bitcoin and Nostr is overly reliant on personal affiliation and geographic colocation. So, "people we know, from around here, who are fun to party with and emit good vibes".
A _Trust me, bro._ culture, rather than serious business processes, regular internal and external audits led by competent, constructively-adversarial people, quality management, etc. There is also a difference between "this person is critical and annoying, but highly-competent and always presents sound arguments" and "this person is arrogant and dismissive of grounded critique". For some strange reason, the first is seen as bad and the second is seen as good. That is precisely backward.
It's a start-up culture, but these aren't video games, they're people's vaults and social histories. These are secure information systems and should be handled with more care.
Opensats is done
Coin kite is done
1031 is done.
They are all
Cooked.
This is hilarious and also not a smart move at the same time.
That looks like it could very well happen…
They postured as experts in Bitcoin and duped investors, customers and anyone who would listen.
The worry at this time was a user only doing a couple dice rolls and having worse entropy than the actual coldcard. Yea looks terrible now but at the time everyone trusted coldcard entropy. Sad.
Agreed
Nothing here I can say that is new. Do better, and Humble harder in the future.
They should have been given grants to people like you instead they put their buddies on payroll
I also agree…
Sad to see some people on here trying to give these dudes a pass.
I am still kicking myself for not going with my gut feeling after the blockclock and closing of the source code. NVK could never be trusted. And now I dont trust
@ODELL any longer. His USP was judgement and integrity, and he should have called out NVK over these things. But loyalty or something else got the upper hand.
Sorry Matt, but I think you are the hero that fell in this bear market.
100 dice rolls on a single sig with a *strong* passphrase is not a single point of failure
It is… it’s shocking…
so where to store funds then?
They are sitting on piles of cash, tho.
Will go to lawyers
Well, whatever. Nobody I am working with depends primarily upon grants from them, so we can keep building, regardless.
I've been critical of the lack of formal, transparent, and clear grant processes, from the beginning. Looks like that casual Bro Culture extended to their commercial enterprises. This is my surprised face. 😐
You can move them to pretty much any wallet temporarily while you sort it out. BlueWallet works fine for a short-term solution.
When nvk nostr Comment?
“Smart” seems to not have been a prerequisite to have your bitcoin company funded by a certain VC firm.
Meanwhile they were clueless arrogant fucks. That cant even do basic coding.
Hopefully never. He should go fuck himself daily.
According to their website. 
Absolutely brutal.
But at least we can trust
@OpenSats and director
@N's judgement to fund Core devs, makes me feel real confident in running shit Core 😄
@Bitcoin Mechanic
@Luke DashjrDon't do business with such obviously non-humble people like NVK. This kind of shit always happens around such people as are typically classified as narcissistic.
There were signs...
Has he tried stamping into a metal plate?
I hope the CTO never gets a job programming after this too.
I haven't asked in a bit. But even if he did, it would still be a key he generated in Spectrum like ten years ago and left on a connected device lol I don't think he's been rekt but I've urged him to just start fresh using best practices.
The whole set it and forget it mentality was a mistake. I'll always urge diligence and at minimum yearly audits of firmware, recovery, ability to move if needed, etc.
I was blind 😭
He is probably getting replaced by AI
He’s busy chasing windmills.
View quoted note →What are these "best practices" you speak of?
Like, paper wallets are looking sorta good, at the moment. And, like, Lightning nodes, like Alby or Electrum. They usually have good Bitcoin wallets.
I dunno. I think we need to put everything under review, again, as there was too much discounting of things like hardware and firmware quality.
Stay humble and move sats
You're correct. AI coders are exactly the same breed of programmer as that guy. And you can expect the same level of arrogance and the same catastrophic level of bugs too. But faster.
Yes I guess they're were signs.
Not generating your seed inside internet connected software responsible for also generating your entropy which we can now say is retarded. I don't think the other stuff needs review.
So now what's the best way to setup a new wallet by rolling dice?
I don't think generating your own entropy and storing that key offline is ever going to be worse than letting internet connected software do that for you. That's what I mean. I see no reason to question that for any sort of data.
He's specifically saying do not use Coldcard
I was so close to buying a cold card for my first l storage wallet a year ago and am glad I went with a SeedSigner
And I'm asking what are the best alternative ways. Maybe I phrased it wrong
Don’t Trust, Verify
Dont Trust, Verify
@ODELL if we have updated FW on Mk4 to 5.6.0 and then created new seed on Coldcard using 99 dice rolls are we safe?
People are often sloppy about generating their own entropy. Dunno.
How would that work? It's basically one step away from signing with paper and pencil...
Just pick a popular device that has a proven history and a long track record
Full Open Source with lot of 👀 on the codebase
you will find out lol
never trust computers or electronic devices
Built mine from (modestly but sufficiently verified) source code & shared it with my trusted folks; wouldn't even know how to verify the author in any meaningful way, without meeting them in person. Even then they can go rogue whemever.
OTOH if I'm dealing with a bunch of tampered pi zero boards...that would freak me out a bit...
Is the new firmware (31th July) now safe to generate a new seed from?
#asknostr
Probably right
Ouch
This is kind of true
This is the way honestly
And connect via Ethernet
OMG you’re a trouble maker
@npub1ddt5...3c7k 🤣
Get ready for pitchforks.
You have a point. As Christians, we are taught to forgive. As humans we learn to hate. I am not sure what fate “leaders” on this clown car dumpster fire befits their crimes. Piling on can obscure facts and focus. I look to wiser npubs like you, kinder hearts and cooler heads to prevail. Then, I think of those affected and to be affected by these malicious, incompetent actions, I start the dark path of vengeance being the only answer. I want to believe.
everything needs to be dissolved. its already pineapple upside down cake
Actually they stopped shipments and all the devices in stock will be destroyed. At least that's what they say.
Possibly the worst take I’ve read all day, but you do you!
Yes. Tried to tell him nicely. 😉
FWIW I found several bugs as I was moving from the coldcard. Personally I'm throwing away my card.
Dammit.
yeah, I know
And it's not like something like this can't ever happen in another set up, but the bugs on top of everything else - just didn't seem worth the risk
Why not electrum on a phone you keep offline? If it's just for a few days
I should’ve done the dice roll. I did everything except that and lost it all.
look at the replies...
wow....
we should send comfort and love to NVK! he's a poor guy
View quoted note →Trevor, here I come
*shit Trezor
Best thing about this is the collapse of Bitcoin influencers
Why would they destroy the products of the big is in the software.
Yes I understands why they'd stop selling them at least temporarily, and may never be able to sell them again, particularly with the premium price etc.
But why destroy?
Emotions are high. Maybe that's it.
Why stop at NVK?
I'm not trying to be provocative. Its a serious question.
The arrogance does not stop with him.
I will say this. This us when real character is formed and seen. Will we see continued (genuine?) humility? Or will it crack? The first sign will be shipping blame.
Some folks think bitcoin is important. (Too much sometimes imho)
I am not anti ETF, Saylor, institutions and so on. But the people dressed up as the priests of freedom tech just handed them the best marketing and advantage they could have hoped for.
I can only imagine the pain people who lost their savings feel right now. But more than money has been lost.
What are certain folks gonna ride after shooting their high horses in the head, I wonder.
Bitcoin will be fine.
But we will have to see about the "plebs".
One thing I appreciate about paul is that he teaches patience and risk management instead of chasing quick profits. That mindset completely changed the way I approach trading, and I've seen much better consistency because of it.
I think on single sig that using a passphrase is now non-negotiable.
Passphrases now being broken according to btcsessions
dont really trust btcsessions
I’ve never really followed him much so idk. Just relaying.
I dont think these guys really know what they are talking about.
They just read the current news and put it in to youtube videos with sponsored ads.
Yup, just like the emails they always claimed they keep 0 data on you.
😔😔💔
Yeah why isnt that shit getting shut down and dismantled?
@Coinkite @npub19can...qj29 @N you clueless parasitic fks arent done yet fking people over?
Because he was an investor he constantly ignored the criticisms of not being FOSS and the issues that creates (which has played out)
So then what do you use ?
I print the words and put them in a safe.
So how does this solve the problem with what happened with the ColdCard hack?
Simple. You get your wallet keys from known good wallets versus meme hardware wallets made by retards that don't know what they are doing.
So in your view SeedSigner is a meme wallet? What are wallets you trust?
Of course. It will have vulnerabilities. There were articles about it in the past.
Right now I use Exodus wallet and save the seed words in my safe.
I am not sure I want to keep investing in Crypto anymore. All so tiresome
So you use a software wallet to generate your keys and not a hardware wallet offline?
Yes
Interesting 🫥
Set it and forget it is a myth with anything that has an attack vector. We all learned this the hard way this week.
People should also consider the legal and moral traditions of ethics in corporate governance. Both as an investor of other people’s deposits, a purveyor of financial advice (though unlicensed) and as a board member of OpenSats Matt Odell incurs fiduciary duties. That means he cannot give out money according to his own social connections or personal financial interests. He has an obligation, a *legal* obligation, to invest the money to the person that is best fit for the job.
The key to know that Matt Odell violated his fiduciary duty here is that two of the investments he made and promoted, both
@N with the ColdCard and
@miljan with Primal, were to obviously incompetent people that made broken products. And they are both *neighbors*, something we know thanks to Damus developer
@jb55
It is statistically impossible that two of the best people to invest money in and promote on all the 8 billion people on the planet are fucking neighbors. That is not remotely plausible, especially with their very visible incompetence. The only sensible thing to know is that he gave the money to these people and promoted him not because they are the best person to receive the capital, but because they are in the social graph and engaging in racketeering. Odell is even *more culpable* than NVK because NVK is a retarded taco-guzzling torto and it’s quite possible that he did the best job he could. You can tell just by looking at his face that he’s a fucking moron. In contrast, Odell violated his fiduciary duty to engage in preferential treatment for this fat clown. He’s morally and potentially legally culpable, and I recommend everyone that lost money due to the ColdCard look into suing Odell, OpenSats, and Ten31.
It was not out of his control. It is birthed of a violation of his fiduciary duties:
Even before this, Odell is liable at the time of initial investment because he violated his fiduciary duties:
A follow up to this topic.
Weak bro
You definitely shouldn't 👍
Painful to watch 😞
I always said if you had to store all your BTC on just one wallet - ColdCard is the one - feels so bad that ColdCard ended up being the weakest at the most important part…
Very sad and worrisome with other things we take for granted.
Use Mulitisig - 2 of 3 or 3 of 5 and not multiple hardware devices from the same manufacturer.
Don’t trust. Verify.
Been a while since
@ODELL last posted, but is still reposting, so hasn’t left nostrovia completely. Hope you’re getting some serious R&R with the family. It’s been emotional but I hope it’s not over.
View quoted note →
