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Herbert praises Trezor Safe 7 and BitKey for improving their designs with screens and privacy fixes, but critiques most other hardware wallets as subpar.
BitKey is a seedless multisig wallet with three keys. Pollack explains users hold two keys: one on the hardware and an encrypted app key uploaded to cloud storage, while Block holds a third key that cannot view transactions due to chaincode delegation.
Pollack states BitKey's new hardware wallet features a screen to verify all system actions, including transactions, security settings, and recovery configurations, moving beyond simple transaction signing.
Pollack outlines BitKey's proposed wrench attack vault solution: a two-of-two door requiring biometric checks and a configurable time delay, and a self-custody door unlocked after a preset period like two years.
Pollack argues comparing BitKey's full system to a standalone hardware signer like Coldcard is incomplete; one must include the DIY multisig, recovery, and inheritance setups, which BitKey integrates elegantly.
Block announced BitKey with a screen, priced at $260. It retains a fingerprint reader, which Max criticizes as a physical security risk.
Block announced BitKey now has a built-in touchscreen display enabling address verification for both sending and receiving Bitcoin, addressing a major initial criticism of the hardware wallet.
BitKey is a seedless, self-custody multi-sig wallet using a 2-of-3 setup with shards on the device, phone, and Block, featuring social recovery and inheritance planning. Block's potential failure does not prevent users from recovering their Bitcoin.
Block’s new Bitkey hardware wallet includes a screen for a more intuitive self-custody experience, and the company envisions seamless ecosystem connectivity where a paycheck converts in Cash App and auto-withdraws to self-custody.
Block will roll out a public Bitcoin roadmap across Square, Cash App, Bitkey, and Proto to build in public and allow community influence on development priorities.
Max Guise states BitKey's design started by solving the hardest problems in self-custody, focusing first on recovery and safety to lower entry barriers for new users who found traditional setup overly technical.
BitKey aims to eliminate seed phrases, using a collaborative custody system with a hardware wallet, mobile app, and Block's servers. This addresses the vulnerability of portable seed phrases in potential wrench attacks.
The new BitKey hardware adds on-device verification with a screen, allowing users to directly confirm transaction details, receive addresses, and critical account security changes like email and SMS updates.
BitKey's onboarding process takes minutes from unboxing to first transaction, a core design goal to make the door into self-custody easy and attract users gifting devices to others.
BitKey implemented Chain Code Delegation, proposed as BIP89, to allow users to benefit from a third key held by Block's servers without the privacy trade-off of the server knowing wallet balances and history.
To counter wrench attacks, BitKey is designing a vault system using time locks enforced by hardware and servers, requiring biometric checks and a configurable delay before funds can move, with an optional ejection destination.
Marty Bent introduces BitKey, a hardware wallet designed for easy Bitcoin self-custody with a 2-of-3 multisig setup, where one key is on the device, one on mobile, and Block stores the third.