I mean, there was nothing like a fully secured wallet, 100% secured, right? we could keep on saying that a hardware wallet is the best and most secure wallet, but there are still flaws to it. There are even a lot of times when it encounters a lot of issues and even hackings right, there are also some news of draining wallets on this hardware wallet, if I'm not mistaken.

Well, it's easy to assume that they might be the ones that are causing this, since they would probably be going to benefit from it, if we think about it, maybe they were hiring someone to hack this hardware. Is that what you are thinking? I mean if that is what it is and they are able to do it then it is surely the issue of the hardware wallets. I mean you could strike fear if you make some fake news on the internet but the fact that there are funds missing or wallet that got drained means that they might be some actual issues with it, so it is just inevitable at that point because security is already breached.

It just doesn't make sense to move your funds to banks, since it was even riskier since it was a custodial wallet, after all you don't have control over your funds, and also banks have a lot of security issues as well, it's not like they are 100% secure, since there are also a lot of hacking and phishing incidents as well on your regular banks.

A certain famous figure is shilling for their custodial exchange after the incident, it's not wrong to say that there are definitely some people who are trying to throw the dirt when coldcard incident happened and we know who it is.

But I also know that people who are conscious of self custody are smart enough to figure out that Coldcard incident was an isolated incident and didn't affect other hardware wallet.

Centralized exchange also have so many risk of losing money especially once your account tagged as tainted for interacting with random address and data breaches, self custody in this case still the better choice.

At the end of every warnings online everyone will do what they feel it's best for them.

Hardware wallets aren't perfect and so is every other ways of keeping cryptocurrencies.
There are people who feels like they are doing the best thing by keeping their coins on Cex and till now no bad news.

Someone have adviced me to keep my Bitcoin on Coinbase before, simply because Coinbase is a top crypto exchange, I told them never because of how many centralised exchanges died in the past, when ColdCard fell he came back and said his choice is the best.

I choose what I believe is best for me, keeping my coins in a hardware wallet and adding extra layer of security called Passphrase, I think I will be in good hands this way, but it's understandable that anything can happen.

It's just like living everyday, sleeping and waking up while there is a possibility of death any time any day, no risk no reward anyway.

Concerns about the safety of assets following the “coldcard” incident are understandable, as not everyone has had an easy time accumulating their assets. Hardware wallets are still safe to use for storing Bitcoin. We shouldn’t conclude that all hardware wallets are unreliable just because of a single incident; rather, this incident can serve as a reminder for hardware wallet users to take extra care to safeguard their assets.
What you need to remember is that criminals never truly stop carrying out their criminal activities.

The exchanges know how to capture people with incentives, this is why it's difficult to an average Joe that join Bitcoin. Most of the exchanges have captured their attention with all this giveaway, they not only do that they also make them look like they don't know what they are doing because tell me why should exchange prefer you keep money with them and you just let it be when you can do your investigation further.

It's because exchanges doesn't want to lose their customers they create web3 wallet within the exchanges so that the users wouldn't be far from them, it's just like constructing something that has to do with when they say draw your enemy closer. I think it's too late to even be having this mindset for people that want to be using exchanges, almost all the CT that I am following use exchanges than the web3 they claimed to be practicing.

It will only be described as the safest until your funds gets frozen by the exchange for either receiving payment from a taint address or doing any other thing that violate the casino's terms and conditions, thats when you will know that this safest you are calling it as the bet place to save your Bitcoin will automatically change. Because for the fact that ColdCard Bitcoin hardware wallet was compromised, that doesn't mean that the rest hardware wallet aren't safe anymore. And for the fact that it grants you full control over the protection of your assets, that makes it the best.

You don't need to use hardware wallets to keep your coin off exchanges. Even a small flash drive works.

I don't think you should focus on conspiracy theories. Anything that can be hacked will be targeted. If hardware wallets aren't secure, don't use them. That doesn't mean you should entrust your Bitcoin to an exchange or any other third party service. There are other ways to keep your coins safe. Generally people are too lazy to research these things.

I've spent decades with money in a bank--basically I've had money in a bank since I was 12 years old. Everybody I know is about the same, and between friends, family, coworkers and acquaintances, that would be thousands of people over the years. I also listen to the news, including the local news.

I've never--EVER--heard of anybody losing their money using a reputable financial institution and an insured account. It just. doesn't. happen.

Of course, I don't tend to consort with criminals, so there's that . And I live in the USA, so here there has always been a stable financial system (and if it becomes unstable the price of BTC will drop by 99% as consumer investors sell their risk assets including their Bitcoin, so then it wouldn't matter).

I get that there are a lot of people who live in unstable countries or are... actual criminals who need to hide their money. But for the other 99.9% of the population, self-custody is extremely dangerous compared to the safety of storing something in your name guarded by professionals far away from you, and insured even if they lose it.

We cannot say that all wallets are bad. The person who says that all Bitcoin wallets are bad because Coldcard was hacked may not know why Coldcard was hacked. There was a weakness in the method of generating the Seed Phrase of Coldcard, that is why they faced this kind of problem.

However, a person can use a Multisig Wallet for more security. Because when a Multisig Wallet is used, when making a transaction, that person will need the approval of two or more people who have created the combination. The problem that we saw in Coldcard, we may not see this problem in the case of Multisig Wallet.