0:40 "Trying to do elliptic curve multiplication or hashing by pencil & paper is probably too difficult for most people" => Like this comment if you think he did just that for his own wallet xD
You can't, the angle of the led, the pressure asserted on the pens led and grip can be measured against the persons regular writing and recreated with enough combinations to get the correct characters🤯😁
It's May 2023. The middle of the Ledger backdoor controversy. And I was not happy. But this video has helped me calm down a bit. .... I think that Ledger should make Andreas their press spokeman!
My advice is to check if your mnemotics are in a book and then write down the page, line and word number on a paper. Even someone find your paper, you will not have to worry. My second advice is to create a second mnemonic key and wallets and in case of emergency transfer all your assets on them.
I have bought every one of Andreas' books They are awesome! 'The internet of things volume 3' just arrived and I will be reading it over the next couple weeks! Highly recommend guys and gals! I have a question for Andreas... 50 Times multiplier is the figure I have heard in this space for a while Can you explain why crypto has a 50 x Multiplier marketcap? a)What contributes to create that? b)Who sets it? c)Could the multiplier lower in the future?
How do you know the wallet is not generating a fake seed from your dice rolls with a private key already known by a malicious employee? If the answer is "you don't", is there a safer alternative?
Great answer Anton, and thank you! I have a few other questions. We have 2048 word for 12, 24, and 48 word mnemonic phrases. How many combinations are there? Are there more possible ways to create wallets than this? Will the world ever run out of private keys to be generated? Lastly, an observation, it seems as though one could attempt to use dice rolls or some other form of entropy to generate a new wallet, but then randomly generate an already used private key and accidentally discover someone elses bitcoin.
Thank you Andreas. What if a government seizes the internet in it's jurisdiction and requires a government issued "Driver's License" in order to gain access?
Nothing is wrong with Tails per se but the point is Tails' threat model doesn't protect you from compromised hardware. It's also not newbie friendly so as a recommendation for newbies, "use a hardware wallet" is probably the winner.
Respectfully, one should learn how to do all these steps to create an off-line seed, for the sole purpose of understanding the fundamentals, even if you are going to use a comercial hardwallet.
Hello. I need some help please. I have some funds which is aparently stuck in the blockchain which came from my Binance page due to minor fees being too low and can’t pay more. Aparently if I add the exact same amount on to my Binance this will release the funds that’s stuck. Is this correct. Also can a third party access my Binance page even when it’s my email/password and passcode
After you save and written down the seed words, your cryto accounts can be recovered with any other hardware wallet from any manufacturer as long as it support BIP39 (Bitcoin Improvement Proposal 39)
ok i just have 1 question... what in case that something happens to ledger company and i end up with 24 phrase words and cant recover my coins from ledger... :/
hmm Why? is the last word something like a sumcheck validating the combination? If so then the Total number of combinations is not 2048 on the 24th but "only" 2048 on the 23rd... well that is also big enough for me... :-)
@@norbertsimon4270Yes, the last word is partially a checksum. The first 3 most significant bits (as I recall) are computed from die rolls or coin flips or whatever, and the last 8 bits are a checksum.
@@stevolanddownunder3549 ledger is closed source and has released a concerning feature making it possible for ledger to retrieve your seed for „backup“ Bitbox is the best. Open source and swiss made 🇨🇭
I have recently got into Bitcoin. I was led through the process and got my Bitcoin up to $49,999. The problem is I have maintenance fees of $4100. I have been told that I have to pay the $4100, before I can get the Bitcoin. I live on a fixed income and have not been able to pay the maintenance fee of $4100. What can I do to retrieve my Bitcoin?
Crypto was hyped up and touted as cure many problems but we have seen crazy financial situation, printing tons of money etc but the use cases of crypto seem to have not taken any advantage of it. It's still fringe market with manipulation and fluctuations for no reason or logic. If this will ever be mainstream, who knows?? It seems to be turning bit pointless thing.. Anyone agrees? For or against welcome
If you do research of what is being developed behind the scenes you would think different. Follow the money .. visa is even getting in on the bitcoin game now
@@martinlutherkingjr.5582 I'd agree. I would go as far as to say no one(new to the space) should be buying bitcoin between now and halvening event. Just turn off all the videos from day traders, let it drop, check back and in August buy a very small quantity if still intending to.
But I don't need trust with my ledger nano s, it comes sealed and you connect it to a power source and generate your seed offline. Ledger is unsatisfying but trezor is cancer
![Can Someone Guess My Crypto Private Key? [From Sand, to Molecules, to the Observable Universe]](http://i.ytimg.com/vi/2eZ5DP2P5As/mqdefault.jpg)
0:40 "Trying to do elliptic curve multiplication or hashing by pencil & paper is probably too difficult for most people"
=> Like this comment if you think he did just that for his own wallet xD
Hah, was about to write it! And only need to do it once too. I'm tempted
This man is a hero plus genius
How do you trust your pen?
How do you trust yourself?)
What if im mindcontrolled by 5G
Especially if its name is Lepen.
You can't, the angle of the led, the pressure asserted on the pens led and grip can be measured against the persons regular writing and recreated with enough combinations to get the correct characters🤯😁
Using a dice roll and writing it on paper.
It's May 2023. The middle of the Ledger backdoor controversy. And I was not happy. But this video has helped me calm down a bit. .... I think that Ledger should make Andreas their press spokeman!
My advice is to check if your mnemotics are in a book and then write down the page, line and word number on a paper.
Even someone find your paper, you will not have to worry.
My second advice is to create a second mnemonic key and wallets and in case of emergency transfer all your assets on them.
Could you explain further ?
Horrible advice. They can check to see if you have done search engine searches for the word mneumonics as well as the books recommended.
Andreas should do a step by step tutorial on generating a seed by rolling dice or cards. That would be fun to watch.
Thank you! I've asked this question to myself numerous times.
great question, well explained as always. Thanks again AA.
How do we know the manufacturer doesn't keep a copy of the mnemonic phrase?
Making our own seed phrase...if I am right it has checksum and must be created according certain rules. Or not?
Great video, just got a trezor
Excellent. I would think that by far the most losses come from user mistakes. The simpler the hard wallet the better.
I have bought every one of Andreas' books
They are awesome!
'The internet of things volume 3' just arrived and I will be reading it over the next couple weeks!
Highly recommend guys and gals! I have a question for Andreas...
50 Times multiplier is the figure I have heard in this space for a while
Can you explain why crypto has a 50 x Multiplier marketcap?
a)What contributes to create that?
b)Who sets it?
c)Could the multiplier lower in the future?
Mastering Bitcoin is incredible.
Fantastic as always!
How do you know the wallet is not generating a fake seed from your dice rolls with a private key already known by a malicious employee? If the answer is "you don't", is there a safer alternative?
There's a really great guide on their website on how you can verify it. Would recommend you checkout their docs and read the guide.
How does Digibyte's MultiShield works?
What about using bitaddress on an air gapped device?
Great explanation! Would you consider doing a review on a non-open source BC-Vault wallet?
Great answer Anton, and thank you!
I have a few other questions.
We have 2048 word for 12, 24, and 48 word mnemonic phrases.
How many combinations are there?
Are there more possible ways to create wallets than this?
Will the world ever run out of private keys to be generated?
Lastly, an observation, it seems as though one could attempt to use dice rolls or some other form of entropy to generate a new wallet, but then randomly generate an already used private key and accidentally discover someone elses bitcoin.
Check his other video
You’d multiply 2048 by itself the number of times that’s the number of words in the mnemonic phrase.
I'm on Paper Wallet. Better than hardwares.
Some people are talking about diy cold wallet manufacture
Than which device we use
Thank you Andreas. What if a government seizes the internet in it's jurisdiction and requires a government issued "Driver's License" in order to gain access?
What is wrong with Tails? I’ll take that any day over a black box which is connected to an internet device, not to mention it’s free
Nothing is wrong with Tails per se but the point is Tails' threat model doesn't protect you from compromised hardware. It's also not newbie friendly so as a recommendation for newbies, "use a hardware wallet" is probably the winner.
Is there a secure algorithm to generate private keys from a seed ???
How about owning a hardware wallet, transfer your crypto to it then create a paper wallet to store the bulk of your crypto?
Respectfully, one should learn how to do all these steps to create an off-line seed, for the sole purpose of understanding the fundamentals, even if you are going to use a comercial hardwallet.
very well layed out
Perhaps you should be discussing the issues with BIP39.
Can you make a 2021 video plz.
Well we can have our own entropy for our 24 words with 256 physical dice (1-3 is 0 , 4-6 is 0).
Eh, you might want to make one of these ranges equate to a 1.😬
Andreas could you update to present day your confidence in a 51% attack on bitcoin , or is it tge sane result as from 2015. ? 😉Many thanks
It’s even harder now! Impossible I would say.
It already happened, and the result wasn’t nearly as bad as expected.
Surprised you didn't include "optional passphrase"
Hello. I need some help please. I have some funds which is aparently stuck in the blockchain which came from my Binance page due to minor fees being too low and can’t pay more. Aparently if I add the exact same amount on to my Binance this will release the funds that’s stuck. Is this correct. Also can a third party access my Binance page even when it’s my email/password and passcode
I have a question. This devices work with a battery? If so, how to recovery the bitcoins if the battery dies? Or if the device stops working?
You're suppose to write down your seed in the event any device breaks.
After you save and written down the seed words, your cryto accounts can be recovered with any other hardware wallet from any manufacturer as long as it support BIP39 (Bitcoin Improvement Proposal 39)
@@DorangoBread thanks
@@lile5341 thanks
ok i just have 1 question... what in case that something happens to ledger company
and i end up with 24 phrase words and cant recover my coins from ledger...
:/
Wallets these days are all following a standard. So you can use these words with a different hardware wallet (or even software wallet) without issue.
Your logo is your hairline. Brilliant.
Elliptic curve calculations “Probably” to difficult for most people 😂👏✌️
what about Mycelium?
No.
What about it?
thanks bro!
excelent video
Obrigado
Thanks🤙
It's easy to make the first 23 words of the seed randomly. The problem is always the 24th. Could you give suggestions about that?
hmm Why? is the last word something like a sumcheck validating the combination? If so then the Total number of combinations is not 2048 on the 24th but "only" 2048 on the 23rd... well that is also big enough for me... :-)
@@norbertsimon4270Yes, the last word is partially a checksum. The first 3 most significant bits (as I recall) are computed from die rolls or coin flips or whatever, and the last 8 bits are a checksum.
making your own seedphrase!? We humans CANT create satisfying amounts of entropy
Dice.
Hello from 2023, Ledger is not trusted anymore, go fig!
Still the best.
@@stevolanddownunder3549 ledger is closed source and has released a concerning feature making it possible for ledger to retrieve your seed for „backup“
Bitbox is the best.
Open source and swiss made 🇨🇭
No!
My advice, don't keep all eggs in one basket.
why ? isnt ledger nano best possible way to store coins? :P what can go wrong?
Still losing 1 basket would be enough to piss me off
I have recently got into Bitcoin. I was led through the process and got my Bitcoin up to $49,999. The problem is I have maintenance fees of $4100. I have been told that I have to pay the $4100, before I can get the Bitcoin. I live on a fixed income and have not been able to pay the maintenance fee of $4100. What can I do to retrieve my Bitcoin?
'Cure worse than disease' lol I love your political joke.
Me too
Kokonato he just said no pun intended and yet you still took it as
❤
Crypto was hyped up and touted as cure many problems but we have seen crazy financial situation, printing tons of money etc but the use cases of crypto seem to have not taken any advantage of it. It's still fringe market with manipulation and fluctuations for no reason or logic. If this will ever be mainstream, who knows?? It seems to be turning bit pointless thing.. Anyone agrees? For or against welcome
If you do research of what is being developed behind the scenes you would think different. Follow the money .. visa is even getting in on the bitcoin game now
@@martinlutherkingjr.5582 I'd agree. I would go as far as to say no one(new to the space) should be buying bitcoin between now and halvening event. Just turn off all the videos from day traders, let it drop, check back and in August buy a very small quantity if still intending to.
I need dat SEED (:
I just lost all trust in my Ledger Nano S.
just a little I agree, but still got 90% of it in my Ledger.
Trezor is a nightmare, I don't have a pc but you need one for updating it's firmware
I have both Trezor and Ledger and Own a 2015 PC.. Trezor is my choice
@@RandyDupree I do prefer my Trezor over Ledger also..
@@nimohobbs9827 is that version 1 or the new one?
But I don't need trust with my ledger nano s, it comes sealed and you connect it to a power source and generate your seed offline. Ledger is unsatisfying but trezor is cancer
Sell into this pump.
That hater needs some Jesus
Just create a paper wallet on an air gapped computer and burn the computer afterwards.
shave your head, make sport, eat healthy. greetings