To kickstart the weekend, weâ€™ve curated a handful of short but compelling stories from across the crypto sphere. First up, weâ€™ll revisit the fallout from Wallet Failâ€™s demonstration of hardware wallet cracking. Weâ€™ll then move on to a Patreon alternative thatâ€™s powered by cryptocurrency and a viral tweetstorm about everything thatâ€™s allegedly wrong with Ethereum.
More Hardware Wallet Manufacturers Respond to Hacking Claims
As we reported yesterday, a team known as Wallet Fail have captured attention after demonstrating how to crack several cryptocurrency hardware wallets. Ledger and Trezor, the manufacturers whose devices were exploited at the 35C3 conference, were swift to issue rebuttals and reassurances, emphasizing the impracticality of an attacker implementing one of Wallet Failâ€™s methods in the wild. Since we reported on the story, a number of other hardware wallet companies have also responded to the presentation.
â€œKeepkey did not have prior knowledge of this vulnerability through our responsible disclosure program,â€� tweeted the wallet manufacturer, but explained that â€œThe Keepkey dev team is working on a fix.â€� They then stressed that â€œall users should make sure their physical device is in a safe place, as the attacker must have physical access to be successful.â€� Coldcard, meanwhile, pointed out that its own device wasnâ€™t referenced in Wallet Failâ€™s presentation, and used the opportunity to boast that, unlike the competition, its own wallet doesnâ€™t fail. The Wallet Fail team, for its part, has denied allegations that it didn’t disclose the vulnerabilities it found to manufacturers in advance of its presentation:
— WALLET.FAIL (@walletfail) December 28, 2018
Bitcoin-Based Patreon Alternative Tallycoin Takes Off
In the wake of widespread controversy over Patreon liberally banning content creators, a bitcoin-based alternative has begun to gain traction. Tallycoin takes the model popularized by Patreon and Gofundme and adapts it for P2P cash in the form of BTC. Unlike Patreon, which charges 5 percent, Tallycoin takes zero fees, with all funding going directly to the creatorâ€™s bitcoin wallet. Regular BTC and Lightning Network payments are accepted, and while the user interface is simple, the platform demonstrates the potential for a censorship-resistant Patreon alternative.
Tuur Demeesterâ€™s Anti-Ethereum Rant Goes Viral
On Friday, prominent bitcoiner Tuur Demeester embarked on a 50-strong Twitter rant about everything he deemed to be wrong with Ethereum. From scaling to decentralization and from use cases to monetary supply, he left no stone unturned, describing the project as â€œat best a science experiment.â€� â€œI agree with Ethereum developer Vlad Zamfir that itâ€™s not money, not safe, and not scalable,â€� he continued.
1/ People often ask me why Iâ€™m so â€œagainstâ€� Ethereum. Why do I go out of my way to point out flaws or make analogies that put it in a bad light?
— Tuur Demeester (@TuurDemeester) December 28, 2018
Demonstrating that there are two sides to every tweetstorm, Bryant Eisenbach issued a point-by-point rebuttal of Demeesterâ€™s lengthy indictment on Ethereum. While Adamant Capital founder Tuur Demeesterâ€™s rant caught plenty of flak from Ethereum proponents, Bitcoin maximalists such as Jimmy Song were swift to endorse his critique. The thread also prompted intense discussion on the Ethereum subreddit where a few feathers were rustled.
Kraken Launches BCH and XRP Margin Trading
Finally, margin trading for bitcoin cash and ripple has been enabled on Kraken. The U.S. cryptocurrency exchange now enables retail and institutional clients to obtain leverage on both coins, with the borrowing limit depending on the level of the account in question. Bitcoin cash can be traded with up to 3x leverage and ripple with 5x.
We have enabled margin trading for Bitcoin Cash (BCH) and Ripple (XRP)! The addition expands our margin offering to 8 assets. Read more on our blog: https://t.co/DSBaMBdOR7
— Kraken Exchange (@krakenfx) December 29, 2018
Images courtesy of Shutterstock.
Need to calculate your bitcoin holdings? Check ourÂ toolsÂ section.
The post The Daily: Wallet Hacking Debate Heats Up, Bitcoin-Based Patreon Alternative Emerges appeared first on Bitcoin News.