For a long time, I thought of the blockchain as almost synonymous with cryptocurrencies, so as I saw stuff like “Odyssey” and “lbry” appearing and being “based on the blockchain”, my first thought was that it was another crypto scam. Then, I just got reminded of it and started looking more into it, and it just seemed like regular torrenting. For example, what’s the big innovation separating Odyssey from Peertube, which is also decentralized and also uses P2P? And what part of it does the blockchain really play, that couldn’t be done with regular P2P? More generally, and looking at the futur, does the blockchain offer new possibilities that the fediverse or pre-existing protocols don’t have?
You’re saying a lot of words and not addressing the hardware cryptocoin wallet problem I outlined above.
Lets focus on that. How do you know that a hardware cryptocoin wallet truly emits random numbers that aren’t being hacked? The trust problem in this cryptocoin world is horribly, horribly unsolved despite 15+ years.
That’s why these scams keep coming up. Because the “oh just trust the cryptocoin” approach doesn’t work. You need to think from the perspective of a security researcher.
you are talking to someone whos been doing cryptography since the 90s, the answer hasn’t changed since then, you cant. the ONLY was you can be sure is with old school means or controlling your own lithography system.
most people just pick what level of trust/control/effort they are most comfortable with and go with that. the more your life ends up under these keys the more youll want to move to physical storage, multiple cold wallets, etc etc.
This usability nightmare is part of whats hurt crypto’s adoption imo.
Why are insecure devices allowed to be sold? I don’t know, why do we let comcast sell routers with known firmware vulnerabilities that gets a large chunk of them infected with malware? Why do we only deal with dangerous things after they become dangerous and hurt people, esp when the danger is so damn obvious? I don’t know.
Is there a hardware wallet I like that I believe is secure? No
Do i use them? Well of course, insurance companies love them…sigh.
Do I use them for my personal stuff? No, the vast majority of my holdings are stored in physical cold wallets.
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?
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.
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.
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?
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.
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)
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.
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!
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?
As other keys are needed, use hmac(passphrase, “two”) and hmac(passphrase, “three”), etc. etc.
No. The answer is that no one is really trying to solve the info-sec issue with regards to cryptocoin. Its just a money game to them. There’s elementary / college-level solutions that are in the front of any textbook (or maybe left as an exercise, that you’d find at the back of the book / answer key).
When the level of cryptography knowledge is this primitive, I know that the entire damn community ain’t serious about it and I shouldn’t waste my time with them.
thats how it works, im not sure what you are getting at?
Oh really, wallet hardware companies are publishing the hmac and algorithm used to go from passphrase to private key?
Care to post one?
there are opensource wallets, the standard is called BIP39
im not sure if any of the hardware providers are doing it though
im still not sure what you are getting at, if you are suggesting I somehow trust hardware cold wallet providers, I dont, does not mean Im not stuck using the tools.
I’m saying there’s an obvious solution to anyone who has passed a cryptography 101 course here.
PKI private keys are randomly generated prime numbers and/or ellipitcal curve numbers (depending on algorithm). Either way, that random number generator needs a seed, and that seed can be based off of the passphrase. BIP39 isn’t the whole solution, that’s just a way to turn long-strings of alpha-numeric characters into binary data.
My overall point is that there’s a blatantly obvious, simple solution to the hardware wallet problem. I brought it up because its not a hard crypto-problem to solve. The fact that there’s no adequate solution in 15 years is a failure of the cryptocoin community. Not due to a failure of basic cryptography problems.
The cryptocoin community, despite using “cryptography” is a joke. They barely know how to use cryptography even at its most elementary levels. It takes 15 years to come up with crappy, untrusted hardware wallets and they still can’t open a basic textbook to come up with a better solution that’s already written down.