What should be done about this?
Does this make you feel less safe using Bitcoin?
https://www.youtube.com/watch?v=Wo9arZs21WI
It's an interesting subject for sure, and I think will boil down to how pub/priv keys are generated and stored (if stored) on devices or on servers, etc. If my device generates the keys but doesn't store them anywhere, where can they steal them from?It seems likely to me, that if they can access the file structure, which is actually not so hard to do, then they can extract the private keys.
I would like to see an Ubuntu phone with virtualization or at least containerization. Then we could encrypt the file system and isolate the wallet. My understanding is that none of the androids or derivatives have that ability.
But that doesn't matter IF the NSA or hackers can tap into the phone and get to your private key(s). If they can, whether it's on your phone or not, if the private key is to a hot wallet or cold storage address, it can be stolen. I'm not so sure they can do this though.....Now that we have Bitcoin, security has to improve alot. Not ony the NSA can/will steal the money/coins, but also hackers will do it. Bitcoin did a pretty good job in improving the security in the last 2-3 years.
but in any case: dont store large amounts of money on your phone.
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