Hd wallet vulnerability as predicted by McAfee in the wake of bitfinex hack for 60$ mil. In bitcoin

[tungfa]

Hd wallet vulnerability as predicted by McAfee in the wake of bitfinex hack for 60$ mil. In bitcoin

http://dashpaymagazine.com/index.php/20 ... d10e-2016/

https://twitter.com/mattbtc/status/7606 ... 07392?s=09

John McAfee had an amazing opening session at the D10e conference in San Francisco. He touched on security, user experience and other controversial issues including theDAO and PokemonGo. To set the tone for the conversation John uttered, “We as species have anger and fear and distrust. Also love and compassion hopes and dreams.” Here are highlights from his speech.
He started with security where he mentioned theDAO and hardware wallets.
“We need to make user interfaces iron clad and simple. Most of the alt currency that is lost is lost due to user error. For example, the problem of the DAO was known. If you don’t understand these things don’t get involved in them.
Assume we can help protect yourself from yourself, then comes a whole host of other issues. What do you do with all that information, like passwords? What happens if you die? What do you do? So do you share your passwords with your wife? Then we get back to trust.
So lets assume you trust someone. What are they going to do with the information. But most difficult to solve is the external agencies that want to access your wallets. I am one of the world’s largest targets for hackers. Four months ago I published my personal phone number and email address. Did this so hackers would target me first.
Their is only one solution which is a hardware wallet, I use Trezor. It’s a lot of work, it’s expensive and time consuming but this is where we are at. Hackers are actually in your phone before you even encrypt, it’s a problem no one is addressing.
We have to get away from inputting on any device seed keys. The hacking community is very good about getting past current security. They have become sophisticated and we haven’t caught up. We are still encrypting and that’s not where the vulnerability is. I promise within a year there will be a massive coordinated attack, you know a million people will lose their wallets.”
He also spoke about the complex nature of recent technologies and their possible effects:
“Whenever you hide complexity you are going to piss of the techies. I attract hackers because everyone wants to hack McAfee. The technologists want access to complexity so they can design environments for themselves, not necessarily general public. I have the Samsung S7 and I can not root it, first phone not able to root.
Moderator asking when will Bitcoin enter the Mac level of adoption. It is necessary to hide complexity if BTC is ever going to be widely accepted. There is no way to sell that to public without one click functionality, if that doesn’t happen it will not be widely adopted I promise you.”
And finally on privacy he spoke about lack of understanding of what true privacy means and the vulnerability involved:
“The lack of demand for privacy indicates a lack of understanding about privacy. It’s not a matter of do you have something to hide, it’s do you have something to hide from a specific entity. Ever smoke weed? We all have something to hide, you know this.
History is filled with the statement, “it’s not going to happen here.” You know what are the chances? If enough people do it, 100% It can and will if you don’t do something. As a culture are we too lazy? In which case we are heading down hill. These devices we carry with us have made us lazy. But when we apply that attitude to things that can harm us they will harm. Pokemon Go… good God wake up, suddenly you have millions of kids looking for God knows what and people began an uproar because of the apps access. But so many apps do the same thing. We have to become aware of our vulnerability if we don’t see the truth of our situation right here right now.”