S4 E7: Peter Todd on Hardware Wallets, Security & ProofMarshall
Cypherpunk Peter Todd talks about his criticism of hardware wallet devices, and explains the thought process that helps him critically assess whether or not something is secure.
February 4, 20202h 2m
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Show Notes
<p>4:02 – Intro</p>
<p> </p>
<p>5:24 – Hardware Wallet Physical Security</p>
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<p>6:10 – Buying hardware wallets on eBay?</p>
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<p>7:04 – Toothbrush analogy</p>
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<p>7:26 – Supply chain attacks</p>
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<p>7:40 – Fake seed cards<span class="Apple-converted-space"> </span></p>
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<p>8:20 – Does Peter Todd use any hardware wallets?</p>
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<p>9:10 – Hardware wallets as part of the Bitcoin lifestyle<span class="Apple-converted-space"> </span></p>
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<p>9:30 – Dealing with Bitcoin in the early days</p>
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<p>10:40 – Peter Todd running Qubes and multiple virtual machines</p>
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<p>11:29 – Advice for newbies</p>
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<p>13:00 – The economics of hardware wallets</p>
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<p>13:50 – Markets for Bitcoin transaction data<span class="Apple-converted-space"> </span></p>
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<p>15:00 – Are Electrum servers ran by Chainalysis?</p>
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<p>16:30 – Chainalysis and Bitcoin exchanges</p>
<p> </p>
<p>17:00 – Shapeshift’s KeepKey</p>
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<p>18:31 – Does Peter Todd use a Coldcard?</p>
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<p>20:22 – The issue of hardware wallet screens and checking addresses</p>
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<p>21:55 – Packaging to discourage supply chain attacks</p>
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<p>23:00 – Coldcard and PSBT</p>
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<p>25:25 – Auditing trusted setups</p>
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<p>26:10 – Which hardware wallet does Peter Todd recommend?</p>
<p> </p>
<p>29:15 – Is the YubiKey better than a hardware wallet?</p>
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<p>31:57 – Setting up a watch-only wallet for cold storage</p>
<p> </p>
<p>32:58 – Is just using Bitcoin Core secure enough?</p>
<p> </p>
<p>35:14 – The psychology of having a piece of hardware that makes you feel safe</p>
<p> </p>
<p>36:36 – Ballet Crypto and trusted printing</p>
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<p>37:45 – BitAddress dot org</p>
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<p>39:00 – Generating randomness with a dice<span class="Apple-converted-space"> </span></p>
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<p>40:10 – Security is hard and complex</p>
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<p>41:00 – Security theatre<span class="Apple-converted-space"> </span></p>
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<p>42:47 – Cryptography vs Applied Cryptography<span class="Apple-converted-space"> </span></p>
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<p>44:30 – How can Trezor and Ledger steal funds from hardware wallet owners?</p>
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<p>46:41 – Liability for theft</p>
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<p>49:40 – Can hardware wallet manufacturers steal $1 from each user?</p>
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<p>51:00 – The perfect theft that hardware wallet manufacturers can coordinate</p>
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<p>52:10 – Bluetooth on hardware wallets?</p>
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<p>53:10 – RS 232<span class="Apple-converted-space"> </span></p>
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<p>55:20 – Faraday cages</p>
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<p>57:20 – Practical advice for bitcoiners<span class="Apple-converted-space"> </span></p>
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<p>59:00 – Tiger rocks, locks, and lock pickers<span class="Apple-converted-space"> </span></p>
<p> </p>
<p>1:00:20 – Is multisig a good idea?</p>
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<p>1:01:23 – Is memorizing your private key a good idea?</p>
<p> </p>
<p>1:01:56 – Security from yourself</p>
<p> </p>
<p>1:03:30 – Physical vs digital data security</p>
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<p>1:05:20 – Does Peter Todd like weed?</p>
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<p>1:06:16 – Bitcoin and drug sales</p>
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<p>1:07:41 – Peter Todd’s prediction for Bitcoin’s success</p>
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<p>1:09:50 – One day, Bitcoin will go to 0</p>
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<p>1:10:00 – The US dollar will fail before Bitcoin</p>
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Topics
BitcoinBTCHardware WalletsSecurityPrivacyOpSecPeter ToddBlockchain