@carlabitcoin @WalkerAmerica Huge congrats. Very inspiring
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Roundtable Traders
271 posts
@nvk Coinkite doesn’t have seasoned experts this was a completely noob and incompetent oversight
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If you are more focused on dunking on people or shitposting than trying to help people secure their coins and ensure people who could be affected are aware:
You are a slimy piece of shit. We see you.
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Re: coldcard mk3
Imagine what NVK would be doing if this were one of his competitors. He’d be non stop marketing, having a flash sale with some trolling discount code and non stop grave dancing
Arrogance was his downfall
@ODELLXYZ @MartyBent to consider for RHR
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@BitcoinArchive @nvk Imagine what NVK would be doing right now if it were one of his competitors. He’d be non stop marketing and absolutely grave dancing
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If you have lost Bitcoin to the CC exploit, you have a right to be angry. I’m so sorry for your loss.
The rest of you dunking on @Nvk as if he scammed people need to get your heads checked.
He has literally dedicated himself to establishing the gold standard in Bitcoin custody.
Catastrophic failure can happen in any industry. Airplanes crash, rockets blow up, bridges collapse.
So long as it’s not negligence, or deceit involved, we should focus as an industry on learning from this to secure ALL wallets from potential attacks.
Nobody cares more about secure self custody than NVK.
Criticise the product or the exploit, but attacking his integrity is out of order imo. He did not make a product to fail.
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@BitcoinArchive @nvk He’s been insanely arrogant for years. He deserves no sympathy imo
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Throwing stones isn’t helpful but NVKs arrogance amid the foundation passport saga is what ultimately caused this
Hope @ODELLXYZ and @MartyBent don’t sugarcoat it on RHR.Not asking you to bury your friend but lets keep it real. NVK was arrogant and is still rtweeting FUD this AM
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@BitmundFreud NVK reposting is hilarious. Even after massive humble pie dude can’t help but fud competitors. He’s bottom of the totem pole for the next decade
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Serious question. If Coldcard’s RNG was silently bypassed for years due to a firmware/build bug, what’s stopping the same class of subtle entropy failures from existing in other hardware signing devices (Trezor, Ledger, BitBox, Jade, etc.)?
Are we just assuming their TRNG + mixing designs are solid because nothing has blown up yet, or has anyone actually audited the equivalent code paths?
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@Vladcostea @itsLIRAN His ego literally rugged 1300 plebs
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I figured it out since 2019 when I was writing a comparative review of hardware wallets for Bitcoin Magazine and he was in my DMs every day trying to convince me that his product is better
Later when he joined my podcast, he set a condition to not get asked about BitBox02 because it’s technically similar to his Mk3 Coldcard (and has better UX IMHO).
But he also forked the Trezor GitHub repo and changed all the file names to avoid giving credit to Trezor and then changed his license to Common Clause claiming that it’s open source (but on the license’s page it states that it’s not).
This awakening was long overdue.
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@niftynei More of an AML risk. Exchanges don’t like coins coming in and being sent out without a buy or sell. If left for some time should be fine or just a one off. They aren’t in the business of being mixers
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you don't have to hop to a new wallet immediately, you can take your time.
(no, i don't know what the tax implications are but in theory they should be zero as long as you don't sell any coins .. it's a self-transfer which has zero tax implications (in theory))
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the COLDCARD news is really stressful. if you're worried and want to move the coins immediately while you take time to consider your self-custody options, it's not the *worst* idea to put some into River or Strike or CashApp (ideally a service you're familiar with already)
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I hope this means multisig with multiple hardware vendors becomes more popular. N-of-n additive security ftw.
Also if you're going to use dice get two 16-sided dice and 1 8-sided die.
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Zach Herbert 🇺🇸@zherbert
Regarding the Coldcard entropy bug – many folks are explaining what happened but I wanted to take a minute to explain why it may have happened. It's a disastrous situation and our heart goes out to all the Bitcoiners affected. Here's a timeline of events: On July 28 2020: @FoundationHQ announced our first Passport hardware wallet and noted that we were building on Coldcard firmware which at the time was GPLv3 licensed (FOSS license). On July 30 2020: NVK publicly said he regretted choosing GPL because Coldcard now had a “clone” and that they would change things in future updates. x.com/nvk/status/128… On November 18 2020: Coldcard added its MIT + Commons Clause license, prohibiting commercial products substantially derived from the software. github.com/Coldcard/firmw… On January 8, 2021: Coldcard firmware 3.2.1 formally announced, “License changed from GPL to MIT+CC on files for which the GPL doesn’t apply.” CC is the "Commons Clause" license addendum which is "source available" instead of FOSS. On March 1, 2021: The “First pass w/ libNgU” commit removed the GPL @Trezor-derived crypto libraries and replaced them with libNgU. That same 120-file commit changed seed generation code. libNgU was licensed with a novel “Licensed for Bitcoin Only” license. On March 17, 2021: Version 4.0.0 announced that all crypto and BIP39 code had been replaced and that the “last remaining GPL code” was removed. blog.coinkite.com/version-4.0.0-… #L12" target="_blank" rel="nofollow noopener">github.com/Coldcard/firmw…
Our best understanding right now is that the entropy bug was collateral damage from this major overhaul of the codebase. To be clear, this overhaul was not solely about licensing. Coldcard also cited technical goals including adopting Bitcoin Core’s libsecp256k1, faster AES and SHA implementations, and reproducible builds. But the timeline establishes two things: (1) Foundation’s launch was the obvious impetus for Coldcard’s licensing change, and (2) removing the remaining GPL code was an explicit goal of the subsequent v4 rewrite. We don't know by how much the licensing pressure affected the scope or timeline of the rewrite. All we can determine is that the entropy bug was introduced inside the same 120-file commit that removed the old GPL code dependencies. English
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@SammyKoppelman We know. It’s also fun to just meme on the internet about the current thing. Relax.
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Important thing: Leo isn’t SBF. Not close. He was making bets with money from willing investors who knew he was going all in on AGI. The leverage wasn’t a secret.
He owns $5 billion of Anthropic. He’s 25. He’s not going anywhere.
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@clearchusobserv @ODELLXYZ move funds out an abundance of caution
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developing situation, but if you are currently using coldcard move your funds out of an abundance of caution
bugs have been found and exploited using ai
if you used dice rolls to generate your seed, you should be fine
if you use a passphrase, you should be fine
if you use multisig, you should be fine
would still move funds out of an abundance of caution
this sucks, coinkite team should release more info soon
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@APompliano @cfosilvia Gross advertising to imply CFO can predict markets
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Interesting question to ask @cfosilvia:
“What AI stocks have sold off the most and will be the best performing stocks when the market recovers later this year?”
Try it: cfosilvia.com
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@fejau_inc Cope to excuse the first 80% of recent drawdown
Textbook trap today
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@theinstagibbs Passkey and ur safe ? And someone needs physical access to device right
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Sorry this is the time to panic
instagibbs@theinstagibbs
Confirmed. Mk2/3 vuln, I don't think mk4 is but can't be certain
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@Melt_Dem His job was to sell. @mikealfred is the 🐐 of our generation
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the level of schadenfreude around situational awareness / leopold is sad
let the man cook, he's having a generational run and even if he loses 80% of his book, he'll end the year with better numbers than most HF managers will ever print.
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@APompliano Brr is about to pivot back to bitcoin so hard
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