Bitcoin security is hard to get right: Any form of offline, or “cold” storage available today has trade-offs. Which one is the most secure is still a matter of debate between bitcoin software developers and wallet makers.
However, what the best solution is for an average bitcoiner is still debatable. Some of those arguments came up during a panel at the bitcoin-only Baltic Honeybadger conference in Riga, Latvia, this past weekend.Pavol Rusnak, CEO of hardware wallet maker Trezor, argued a product like the one his company makes is the most secure way to store bitcoin because it has a “limited attack surface.”
Also, the factories manufacturing hardware wallets might become the target of a supply chain attack, he added. Someone could tamper with the devices and redesign them to steal bitcoin from users. “These systems are so insanely complex,” Todd said, adding that these compilers are like “gigantic factories” of code, very difficult to go through and usually not all parts of the compilers’ code are open source.
“Transferring electronic information physically, such as through a MicroSD card, rather than through a computer network, will greatly reduce the possibility of synchronous attacks,” said Rodolfo Novak, co-founder and CEO of Coinkite, manufacturer of the Coldcard hardware wallet, in an email to CoinDesk. .
“The wire between your wallet and your computer isn’t necessarily a bad thing,” Todd said onstage. “The question is how you design that wire, how much current, how many electrons, literally, per second, are flowing through that wire and how fast can that number change.”
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