r/coldcard: Coinkite solvency and class-action speculation
reddit-coinkite-solvency-class-action
https://www.reddit.com/r/coldcard/comments/1vcs0o4/anyone_who_thinks_coinkite_will_remain_solvent/
Latest reviewed change
source content difference between and
The thread gained two new comments: one asking whether the poster inspected the open-source COLDCARD code or is just repeating what others say, and a reply explaining that the commenter uses their own air-gapped Python scripts instead of hardware wallets.
body:
Amazing that a single line of code caused all this.
+comment: p2fkl6u
+parent: t1_p1mqbpw
+author: sasankhatibi
+created_utc: 1786181955
+edited: false
First lines only. The complete diff is in the timeline below.
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- Detected differences
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- Copies held
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Every check is recorded, including checks that found no text change. A detected edit is therefore bounded between two checks. The publisher's exact save time is not observable from this record. Last checked .
This post is held twice: here, with this project's own note on why it matters, and again as part of the conversation captured at , which is polled for changes. Both copies are the same post; neither is a separate event.
Snapshot and diff bodies for this chain monitor are held in the local evidence archive but withheld from the public site because they can contain the addresses of people who published nothing themselves. Capture times and reviewed change summaries remain available below.
Held captures
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The thread gained two new comments: one asking whether the poster inspected the open-source COLDCARD code or is just repeating what others say, and a reply explaining that the commenter uses their own air-gapped Python scripts instead of hardware wallets.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 22 lines
body: Amazing that a single line of code caused all this. +comment: p2fkl6u +parent: t1_p1mqbpw +author: sasankhatibi +created_utc: 1786181955 +edited: false +body: +ColdCard was/is open source. What's your excuse? Did YOU inspect it, or are you just repeating what others are telling you? + +comment: p2flj1q +parent: t1_p2fkl6u +author: magma_lakes +created_utc: 1786182441 +edited: false +body: +I've been a programmer for many years, and I don't use any hardware wallets. + +I have a bunch of Python scripts that I wrote myself many years ago that generate a Bitcoin wallet, from scratch. + +I've copied them over to my air-gapped Linux PC, in order to generate my Bitcoin wallets. + +So, I don't need to inspect any hardware wallet's code, because I don't use them. I only need to inspect and trust my own code, which I do. + more-stub: parent t1_p1igcfs count <live-count>Extracted text as captured
post: 1vcs0o4 author: Provia100F created_utc: 1785602229 title: Anyone who thinks Coinkite will remain solvent after the impending class action lawsuit is lying to themselves body: The devices themselves are probably fine after the firmware update, and apparently dice users are unaffected. That doesn't change the fact that millions of dollars have been lost by users, and it's quite literally guaranteed that lawyers are foaming at the mouth to be the first to file a class action lawsuit. Coinkite is a small company, there is quite literally no way under the sun that they will have sufficient funds to support a defense against a class action lawsuit of this magnitude, the outcome of said class action lawsuit is irrelevant because the legal fees for defense alone will bankrupt them. I think from a hardware perspective, the coldcard is a solid device, but this **is** the end of the company and you will need to come to terms with the understanding that we are all going to be transitioning to "orphan device" status before the end of the year. This is not an attack on Coinkite or Coldcard, this is just a plain statement of fact. comment: p13m373 parent: t3_1vcs0o4 author: ExplorerBoring9848 created_utc: 1785603718 edited: false body: That's why I'm interested in how best to repurpose the device. comment: p13nb6w parent: t3_1vcs0o4 author: YWorkFT created_utc: 1785604070 edited: false body: Likely score some discount coldcards. comment: p13o8hc parent: t1_p13m373 author: FaddyDuck5 created_utc: 1785604334 edited: false body: Don't use its RNG. These devices just hold the 12 or 24 silly words we write on paper. comment: p13pff6Excerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
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New comment by Outrageous-Lab-2138: "Amazing that a single line of code caused all this."
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 8 lines
body: Hubris isn't anything new from the C-Suite. +comment: p2069jq +parent: t3_1vcs0o4 +author: Outrageous-Lab-2138 +created_utc: 1785994566 +edited: false +body: +Amazing that a single line of code caused all this. + more-stub: parent t1_p1igcfs count <live-count>Extracted text as captured
post: 1vcs0o4 author: Provia100F created_utc: 1785602229 title: Anyone who thinks Coinkite will remain solvent after the impending class action lawsuit is lying to themselves body: The devices themselves are probably fine after the firmware update, and apparently dice users are unaffected. That doesn't change the fact that millions of dollars have been lost by users, and it's quite literally guaranteed that lawyers are foaming at the mouth to be the first to file a class action lawsuit. Coinkite is a small company, there is quite literally no way under the sun that they will have sufficient funds to support a defense against a class action lawsuit of this magnitude, the outcome of said class action lawsuit is irrelevant because the legal fees for defense alone will bankrupt them. I think from a hardware perspective, the coldcard is a solid device, but this **is** the end of the company and you will need to come to terms with the understanding that we are all going to be transitioning to "orphan device" status before the end of the year. This is not an attack on Coinkite or Coldcard, this is just a plain statement of fact. comment: p13m373 parent: t3_1vcs0o4 author: ExplorerBoring9848 created_utc: 1785603718 edited: false body: That's why I'm interested in how best to repurpose the device. comment: p13nb6w parent: t3_1vcs0o4 author: YWorkFT created_utc: 1785604070 edited: false body: Likely score some discount coldcards. comment: p13o8hc parent: t1_p13m373 author: FaddyDuck5 created_utc: 1785604334 edited: false body: Don't use its RNG. These devices just hold the 12 or 24 silly words we write on paper. comment: p13pff6Excerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
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Reddit added a comment characterising the discussion as another example of C-suite hubris.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 8 lines
body: It was done on purpose, he probably is a good dev +comment: p1v8gam +parent: t1_p1ssbk5 +author: FauxReal +created_utc: 1785941732 +edited: false +body: +Hubris isn't anything new from the C-Suite. + more-stub: parent t1_p1igcfs count <live-count>Extracted text as captured
post: 1vcs0o4 author: Provia100F created_utc: 1785602229 title: Anyone who thinks Coinkite will remain solvent after the impending class action lawsuit is lying to themselves body: The devices themselves are probably fine after the firmware update, and apparently dice users are unaffected. That doesn't change the fact that millions of dollars have been lost by users, and it's quite literally guaranteed that lawyers are foaming at the mouth to be the first to file a class action lawsuit. Coinkite is a small company, there is quite literally no way under the sun that they will have sufficient funds to support a defense against a class action lawsuit of this magnitude, the outcome of said class action lawsuit is irrelevant because the legal fees for defense alone will bankrupt them. I think from a hardware perspective, the coldcard is a solid device, but this **is** the end of the company and you will need to come to terms with the understanding that we are all going to be transitioning to "orphan device" status before the end of the year. This is not an attack on Coinkite or Coldcard, this is just a plain statement of fact. comment: p13m373 parent: t3_1vcs0o4 author: ExplorerBoring9848 created_utc: 1785603718 edited: false body: That's why I'm interested in how best to repurpose the device. comment: p13nb6w parent: t3_1vcs0o4 author: YWorkFT created_utc: 1785604070 edited: false body: Likely score some discount coldcards. comment: p13o8hc parent: t1_p13m373 author: FaddyDuck5 created_utc: 1785604334 edited: false body: Don't use its RNG. These devices just hold the 12 or 24 silly words we write on paper. comment: p13pff6Excerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
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The thread gained a reply speculating that the incident was deliberate.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 8 lines
You don't know if there's a bug if you can't inspect the code. +comment: p1ssbk5 +parent: t1_p1c11un +author: Only_Assistant9176 +created_utc: 1785907979 +edited: false +body: +It was done on purpose, he probably is a good dev + more-stub: parent t1_p1igcfs count <live-count>Extracted text as captured
post: 1vcs0o4 author: Provia100F created_utc: 1785602229 title: Anyone who thinks Coinkite will remain solvent after the impending class action lawsuit is lying to themselves body: The devices themselves are probably fine after the firmware update, and apparently dice users are unaffected. That doesn't change the fact that millions of dollars have been lost by users, and it's quite literally guaranteed that lawyers are foaming at the mouth to be the first to file a class action lawsuit. Coinkite is a small company, there is quite literally no way under the sun that they will have sufficient funds to support a defense against a class action lawsuit of this magnitude, the outcome of said class action lawsuit is irrelevant because the legal fees for defense alone will bankrupt them. I think from a hardware perspective, the coldcard is a solid device, but this **is** the end of the company and you will need to come to terms with the understanding that we are all going to be transitioning to "orphan device" status before the end of the year. This is not an attack on Coinkite or Coldcard, this is just a plain statement of fact. comment: p13m373 parent: t3_1vcs0o4 author: ExplorerBoring9848 created_utc: 1785603718 edited: false body: That's why I'm interested in how best to repurpose the device. comment: p13nb6w parent: t3_1vcs0o4 author: YWorkFT created_utc: 1785604070 edited: false body: Likely score some discount coldcards. comment: p13o8hc parent: t1_p13m373 author: FaddyDuck5 created_utc: 1785604334 edited: false body: Don't use its RNG. These devices just hold the 12 or 24 silly words we write on paper. comment: p13pff6Excerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
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1 new Reddit comment was posted, including magma_lakes.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 10 lines
body: I just want to understand why everybody says that, Ledger is a peace of shit, because not open source. On the other side, they produced over 7 million wallets, and no one is compromised so far. I was work for a multi-million dollar financial company for years. I work with Thales HSM cards. Never heard from any security expert that: "it is not safe, because closed source". I don't think who say it in youtube/reddit/X knows mutch more about the IT security than the experts I know. +comment: p1mqbpw +parent: t1_p17fzvj +author: magma_lakes +created_utc: 1785843516 +edited: false +body: +... said ColdCard users about a week ago. + +You don't know if there's a bug if you can't inspect the code. + more-stub: parent t1_p1igcfs count 0Extracted text as captured
post: 1vcs0o4 author: Provia100F created_utc: 1785602229 title: Anyone who thinks Coinkite will remain solvent after the impending class action lawsuit is lying to themselves body: The devices themselves are probably fine after the firmware update, and apparently dice users are unaffected. That doesn't change the fact that millions of dollars have been lost by users, and it's quite literally guaranteed that lawyers are foaming at the mouth to be the first to file a class action lawsuit. Coinkite is a small company, there is quite literally no way under the sun that they will have sufficient funds to support a defense against a class action lawsuit of this magnitude, the outcome of said class action lawsuit is irrelevant because the legal fees for defense alone will bankrupt them. I think from a hardware perspective, the coldcard is a solid device, but this **is** the end of the company and you will need to come to terms with the understanding that we are all going to be transitioning to "orphan device" status before the end of the year. This is not an attack on Coinkite or Coldcard, this is just a plain statement of fact. comment: p13m373 parent: t3_1vcs0o4 author: ExplorerBoring9848 created_utc: 1785603718 edited: false body: That's why I'm interested in how best to repurpose the device. comment: p13nb6w parent: t3_1vcs0o4 author: YWorkFT created_utc: 1785604070 edited: false body: Likely score some discount coldcards. comment: p13o8hc parent: t1_p13m373 author: FaddyDuck5 created_utc: 1785604334 edited: false body: Don't use its RNG. These devices just hold the 12 or 24 silly words we write on paper. comment: p13pff6Excerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
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Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 0 lines
Extracted text as captured
post: 1vcs0o4 author: Provia100F created_utc: 1785602229 title: Anyone who thinks Coinkite will remain solvent after the impending class action lawsuit is lying to themselves body: The devices themselves are probably fine after the firmware update, and apparently dice users are unaffected. That doesn't change the fact that millions of dollars have been lost by users, and it's quite literally guaranteed that lawyers are foaming at the mouth to be the first to file a class action lawsuit. Coinkite is a small company, there is quite literally no way under the sun that they will have sufficient funds to support a defense against a class action lawsuit of this magnitude, the outcome of said class action lawsuit is irrelevant because the legal fees for defense alone will bankrupt them. I think from a hardware perspective, the coldcard is a solid device, but this **is** the end of the company and you will need to come to terms with the understanding that we are all going to be transitioning to "orphan device" status before the end of the year. This is not an attack on Coinkite or Coldcard, this is just a plain statement of fact. comment: p13m373 parent: t3_1vcs0o4 author: ExplorerBoring9848 created_utc: 1785603718 edited: false body: That's why I'm interested in how best to repurpose the device. comment: p13nb6w parent: t3_1vcs0o4 author: YWorkFT created_utc: 1785604070 edited: false body: Likely score some discount coldcards. comment: p13o8hc parent: t1_p13m373 author: FaddyDuck5 created_utc: 1785604334 edited: false body: Don't use its RNG. These devices just hold the 12 or 24 silly words we write on paper. comment: p13pff6Excerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
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