Thanks for these helpful informations!! you don't trust softwares running on desktop or mobile but why do you trust hardware devices? in reality we trust humans who made these software and devices why do you think we should trust hardware devices?
All good advices except (IMHO) at 6:33: "destroy the paper wallet". Never destroy a private key, even if it's assumed to be empty (it may not be empty now, it may not be empty in the future).
How do you trust the manufacturer of the hardware wallet? For example, how can you know that the private keys being generated on say a Ledger are truly random, and that the device isn't sending the private keys over somewhere?
Could you please give us the code of the pithon script to do an emoji tweet transaction please ? Fantastic talk like always !!! Thanks for all the work !!
3:12 This is insane that a software wallet would generate a random address to send change to. The wallet should explicitly ask you for a change address, and if you WANT one generated it should be very explicit that if you need to back that up and save it or risk losing it forever.
Very useful and informative. You approach the topics with a lot of precision which is nice to see. Can I ask how you calculated the 99% ? I’m especially interested in how you identify the 1:100 risk case that needs something more secure. Many thx
wow such an useful video. Im reading alot on crypto for more than 2 years, however the fact that remain balance gets transfered to another address was complete new to me. Thanks!
I dont understand 8:22. He says that he get access to hardware wallets through some mobile and desktop wallets, but how so without importing the hardware wallets and entering the phrase of it?
@@entropyfu Ahhh, I see. But there is no advantage to use a desktop wallet compared to the interface of nano ledger eg, am I right? I mean, the app of ledger nano s is not a desktop wallet, isnt it?
I use Electrum myself and my account is showing zero balance after restoring from seed. Can u briefly explain what "man in the middle attack" is please? Thank you in advance!
@@bitcoinprimitives6529 That's what I'm fearing. What's strange tho is my address w my bitcoins is showing as unspent UTXO on the blockchain.....and it's been that way for quite a few months. Thanks for the quick response buddy, I appreciate it.
Well I had multiple wallets in just one Electrum wallet. After I restored from seed, it would say "incorrect password" when trying to open the other 2 wallets I made. I did make the last output TX, but the address showing my bitcoins is no longer in the 1 wallet I can open.
16:47 Nice to have my completely ignorant thoughts validated despite misinformation everywhere. It makes no sense to obfuscate a secure backup; that's just banking on your security not being good enough. If your primary security is good enough, then having a second layer of encryption only serves to make your own recovery harder.
I know this video is old but maybe someone could help answer a simple question. I want to use the 25th word or "passphrase" option on my HW wallet so I can link that with the secret pin code for security reasons. Is using a 25th password where the password is "weak" somehow less safe than just the standard 24 word seed? In other words... Since I'm doing this for plausible deniability I'm not concerned about anyone getting my 24 words. Adding thr 25th word is solely for the feature of the hidden accounts associated with it. In this scenario, is choosing a 25th word that is weak, somehow less secure overall than the standard 24 word phrase? Sorry I know this sounds silly.
somehow i found a better solution than any standard: just use an old phone. make sure the wifi and everything on it is disabled / broken and use a multisig address that requires the offline phone and your normal phone.
Is that any different from a paper wallet, except that an old phone is likely to have (NSA) software that can turn on the wifi, Bluetooth or 3G, even mic and camera, without it showing that the phone is even powered on or connected?
@@zeb1820 paper wallet can't really send coins. old offline phone can actually send bitcoins. perfect mix of hot and cold. if you're that worried you can physically break the wifi/bluetooth
@@stephenkamenar no, but you can still send the coins that are stored on a paper wallet, and a phone that can send coins is not truly offline, so is inherently less safe than a fully offline wallet. But I like your idea, just think an effectively broken phone is harder to achieve and then becomes an offline wallet, just like a paper wallet. I think we need phones like the laptops that you can get with hardware on off switches for wifi, mic and camera, so you can be sure they are powered off while the phone is on. There is one company that sells laptops like that, just forgot the name..
@@zeb1820 paper cannot send coins. you have to import it to some computer. my offline phone is truely offline. it has to scan a qr code, sign it, then display the signed qr to the online phone, and online phone broadcasts it. "air gapped"
CaN I import a paper wallet from a hardware wallet without introducing the private key in a software separate from the hardware wallet? If it is not possible, in your opinion what would be the best software wallet to sweep a paper wallet? Considering I do not have an advanced knowledge to trust the software I can download to sweep the paper wallet.
His help was excellent in a general sense, but offered little to no value explained how to specifically store one’s keys, other than “write, store at home”
Thanks for these helpful informations!! you don't trust softwares running on desktop or mobile but why do you trust hardware devices? in reality we trust humans who made these software and devices why do you think we should trust hardware devices?
Thanks for these helpful informations!! you don't trust softwares running on desktop or mobile but why do you trust hardware devices? in reality we trust humans who made these software and devices why do you think we should trust hardware devices?
Hello! I really enjoy listening to Your You tube videos, Your knowledge of blockchain and cryptocurrencies is incredible! I have a question for You. Last week I made the mistake of sending USDT from My Finance account to the wallet address supplied for My Shakepay account in Canada. Shakepay tells Me that because they do not handle USDT they are not sure they can retrieve those funds for Me. Is there anyway that I would be able to have the funds returned to My Binance account, or are they lost forever? Thank You for Your time!
The obvious reality that hardware wallets will not remain reliable over time (because of changes in business and logistical practices of the manufacturer - and due to business failures, mergers, etc) frankly never occurred to me before, and this makes hardware wallets an *absolute* nonstarter for the average human being. The idea that Joe and Jane 6 pack will accept going to the trouble of periodically (in a very complex and risky process) shifting to an entirely new hardware wallet to keep their vital savings safe, is simply absurd. For widespread adoption to succeed, the average human being needs to be able to put their keys on a hardware wallet and be *absolutely* assured that they can go to that wallet 100 years later and withdraw their funds easily and successfully. Until that guarantee is in place, any sane lay consumer will choose an insured custody provider like Coinbase, and not a hardware wallet. Those of you in cryptocurrency tech need to put yourselves in the shoes of the lay person and do serious work to quickly solve this problem, or the vision of a peer to peer, uncensored, democratic economic system will never happen.
At 6:38 - 9:00 (his answer to the question RE: wallets and clients), I believe he was talking about the software wallets / clients being unreliable, not hardware wallets. Correct me if I'm wrong though.
Lay people will have options by then. Paypal, Revolut and many more will have consistent UI's and do the donkey work so you don't have to think about it.
Just reading ch 8 Internet of money, fantastic tech!! Thank you for sharing this treasure! I am an artist a a very visual person, visual aids would be very helpful in sharing this info. This is going to CHANGE our WORLD! I want to help share this tech, imagine a world where the "other" 5 billion people are brought into the modern economy! That will be growth
![Can Someone Guess My Crypto Private Key? [From Sand, to Molecules, to the Observable Universe]](http://i.ytimg.com/vi/2eZ5DP2P5As/mqdefault.jpg)
this video should come out every year as new people come into this space
Thanks for these helpful informations!!
you don't trust softwares running on desktop or mobile
but why do you trust hardware devices?
in reality we trust humans who made these software and devices
why do you think we should trust hardware devices?
@@jackgladmen3723 its about risk management. unless youre a superstar coder at some point you will need to trust something someone else created
I love this guy. LITERALLY...what would we do in this space without him or someone like him?
Andreas is the best teacher out there. Period.
AGREE!! Isn't he just the best.
I already read Mastering Bitcoin and now viewing your Q&A. Thanks for sharing your knowledge Andreas.
Greetings from Switzerland
U r a blessing to humanity, Andreas 👏
You are the best, andreas
Crucial information for anyone hodling/using crypto
You are the best crypto guy on UA-cam.
Oh wow. Great explanation! I ❤ paper wallets and when I make and use my own I only use them one time for withdraw...
Thanks for another SUPERB video. Another to keep in my back pocket to whip out to help explain this to others as it comes up 👍👍👍
All good advices except (IMHO) at 6:33: "destroy the paper wallet". Never destroy a private key, even if it's assumed to be empty (it may not be empty now, it may not be empty in the future).
Thank you, Andreas, for your wisdom
How do you trust the manufacturer of the hardware wallet? For example, how can you know that the private keys being generated on say a Ledger are truly random, and that the device isn't sending the private keys over somewhere?
Could you please give us the code of the pithon script to do an emoji tweet transaction please ?
Fantastic talk like always !!! Thanks for all the work !!
We love you Andreas!! ❤️
Didn't know that about paper wallets, but now i will know it forever.
Still one of the most precious advice!
Good caveats on using paper wallets
Andreas, could you activate caption please?
Yes I think reading it along with listening to him it would singe into my head better
3:12 This is insane that a software wallet would generate a random address to send change to. The wallet should explicitly ask you for a change address, and if you WANT one generated it should be very explicit that if you need to back that up and save it or risk losing it forever.
They're all generated with your seed, so you can regenerate them all from it.
Tried to create paper wallet. Instructions unclear, stuck in dishwasher.
Thanks for your efforts.
Very useful and informative. You approach the topics with a lot of precision which is nice to see. Can I ask how you calculated the 99% ? I’m especially interested in how you identify the 1:100 risk case that needs something more secure. Many thx
Thanks for this video 💯
Btw, is your LinkedIn account your official account?
wow such an useful video. Im reading alot on crypto for more than 2 years, however the fact that remain balance gets transfered to another address was complete new to me. Thanks!
I dont understand 8:22. He says that he get access to hardware wallets through some mobile and desktop wallets, but how so without importing the hardware wallets and entering the phrase of it?
Electrum lets you use your hardware wallet.
Assume you could just plug in a hardware wallet to your mobile.
@@entropyfu Ahhh, I see. But there is no advantage to use a desktop wallet compared to the interface of nano ledger eg, am I right? I mean, the app of ledger nano s is not a desktop wallet, isnt it?
Victor Meyer Indeed the ledger (interface) apps work exactly the same as some desktop app like Electrum. May even be based on just that.
Excellent! professional experienced advice. Study and dissect what he says. He's detailing how to securely hold the keys to the kingdom..👍😀
EXTREMELY useful overview, SIR ... thank you!
Can you cover the Electrum man in the middle attack specifically?
I use Electrum myself and my account is showing zero balance after restoring from seed. Can u briefly explain what "man in the middle attack" is please? Thank you in advance!
Jarrod VanHorn - u were probably hacked. Hope not but...
Jarrod VanHorn check your out going transactions. Was your bitcoin sent somewhere you dont recognize?
@@bitcoinprimitives6529 That's what I'm fearing. What's strange tho is my address w my bitcoins is showing as unspent UTXO on the blockchain.....and it's been that way for quite a few months. Thanks for the quick response buddy, I appreciate it.
Well I had multiple wallets in just one Electrum wallet. After I restored from seed, it would say "incorrect password" when trying to open the other 2 wallets I made. I did make the last output TX, but the address showing my bitcoins is no longer in the 1 wallet I can open.
Great topic!
Great advice, thank you.
What do you think or know about Lacie Private-Public encryption software. It installs on a USB and never goes online.
16:47 Nice to have my completely ignorant thoughts validated despite misinformation everywhere. It makes no sense to obfuscate a secure backup; that's just banking on your security not being good enough. If your primary security is good enough, then having a second layer of encryption only serves to make your own recovery harder.
3:58 wow. Good to know.
Should you treat an Opendime wallet the same as a paper wallet?
Do not store your saving on opendime, there is no way of backing up private key of the opendime device. If you loose it or destroy it, funds are lost
I know this video is old but maybe someone could help answer a simple question. I want to use the 25th word or "passphrase" option on my HW wallet so I can link that with the secret pin code for security reasons. Is using a 25th password where the password is "weak" somehow less safe than just the standard 24 word seed? In other words... Since I'm doing this for plausible deniability I'm not concerned about anyone getting my 24 words. Adding thr 25th word is solely for the feature of the hidden accounts associated with it. In this scenario, is choosing a 25th word that is weak, somehow less secure overall than the standard 24 word phrase? Sorry I know this sounds silly.
how do I ensure the change goes back to the original address? what wallet programs will do this?
knew it was wise to get a trezor right from start
somehow i found a better solution than any standard:
just use an old phone. make sure the wifi and everything on it is disabled / broken and use a multisig address that requires the offline phone and your normal phone.
Is that any different from a paper wallet, except that an old phone is likely to have (NSA) software that can turn on the wifi, Bluetooth or 3G, even mic and camera, without it showing that the phone is even powered on or connected?
@@zeb1820 paper wallet can't really send coins. old offline phone can actually send bitcoins. perfect mix of hot and cold. if you're that worried you can physically break the wifi/bluetooth
@@stephenkamenar no, but you can still send the coins that are stored on a paper wallet, and a phone that can send coins is not truly offline, so is inherently less safe than a fully offline wallet.
But I like your idea, just think an effectively broken phone is harder to achieve and then becomes an offline wallet, just like a paper wallet. I think we need phones like the laptops that you can get with hardware on off switches for wifi, mic and camera, so you can be sure they are powered off while the phone is on. There is one company that sells laptops like that, just forgot the name..
@@zeb1820 paper cannot send coins. you have to import it to some computer. my offline phone is truely offline. it has to scan a qr code, sign it, then display the signed qr to the online phone, and online phone broadcasts it. "air gapped"
how is this different than a trezor or ledger?
Thanks mate. Great content. 😆😎👍👌
Thank you sir for this valuable info.
Any opinion of the new ECOMI SecureWallet?
CaN I import a paper wallet from a hardware wallet without introducing the private key in a software separate from the hardware wallet? If it is not possible, in your opinion what would be the best software wallet to sweep a paper wallet? Considering I do not have an advanced knowledge to trust the software I can download to sweep the paper wallet.
I would personally have designed any wireless activity to be NFC activated and the pairing of NFC devices only available during wired mode...
13:15 damn. Gold standard.
Why not put an HD wallet on paper?
Andre could you recommend some good wallets please.
What do you think of pay pal wallet?
His help was excellent in a general sense, but offered little to no value explained how to specifically store one’s keys, other than “write, store at home”
So if i send btc from my paper wallet i will lose the rest?
Is BitKey for iOS safe?
Brilliant
damn your a well of knowledge
Thanks for these helpful informations!!
you don't trust softwares running on desktop or mobile
but why do you trust hardware devices?
in reality we trust humans who made these software and devices
why do you think we should trust hardware devices?
Thanks for these helpful informations!!
you don't trust softwares running on desktop or mobile
but why do you trust hardware devices?
in reality we trust humans who made these software and devices
why do you think we should trust hardware devices?
❤
Love you Andreas! You have changed my life in crypto! Thank you! @SamTheCarpetMan
Hello! I really enjoy listening to Your You tube videos, Your knowledge of blockchain and cryptocurrencies is incredible! I have a question for You. Last week I made the mistake of sending USDT from My Finance account to the wallet address supplied for My Shakepay account in Canada. Shakepay tells Me that because they do not handle USDT they are not sure they can retrieve those funds for Me. Is there anyway that I would be able to have the funds returned to My Binance account, or are they lost forever? Thank You for Your time!
PLEASE REMAKE ALL VIDEOS !!!!!!!! use AI to generate graphics and so on, repost all so I could understand :D
If there is going to be mass adoption, someone is going to need to translate this video into English for the average American. (wallets for dummies)
Please get Brave Verified so I can send you my BAT love!!!
twitter.com/aantonop/status/961447010837577728
@@aantonop you could receive the tip and withdraw it pretty quickly though, yea?
The obvious reality that hardware wallets will not remain reliable over time (because of changes in business and logistical practices of the manufacturer - and due to business failures, mergers, etc) frankly never occurred to me before, and this makes hardware wallets an *absolute* nonstarter for the average human being. The idea that Joe and Jane 6 pack will accept going to the trouble of periodically (in a very complex and risky process) shifting to an entirely new hardware wallet to keep their vital savings safe, is simply absurd.
For widespread adoption to succeed, the average human being needs to be able to put their keys on a hardware wallet and be *absolutely* assured that they can go to that wallet 100 years later and withdraw their funds easily and successfully.
Until that guarantee is in place, any sane lay consumer will choose an insured custody provider like Coinbase, and not a hardware wallet.
Those of you in cryptocurrency tech need to put yourselves in the shoes of the lay person and do serious work to quickly solve this problem, or the vision of a peer to peer, uncensored, democratic economic system will never happen.
At 6:38 - 9:00 (his answer to the question RE: wallets and clients), I believe he was talking about the software wallets / clients being unreliable, not hardware wallets. Correct me if I'm wrong though.
Lay people will have options by then. Paypal, Revolut and many more will have consistent UI's and do the donkey work so you don't have to think about it.
@@nauxsi I would not trust PayPal with my worst enemy's garbage collection. PayPal has been banning groups which oppose neoliberalism.
When crypto currency is mainstream, we'll all be chipped in the name of continuity and security
Just reading ch 8 Internet of money, fantastic tech!! Thank you for sharing this treasure! I am an artist a a very visual person, visual aids would be very helpful in sharing this info. This is going to CHANGE our WORLD! I want to help share this tech, imagine a world where the "other" 5 billion people are brought into the modern economy! That will be growth
That 100:1 like/dislike ratio
Crypto is wayyy to complicated for mass adoption