22 Dec Ledger is worth saving
Unpopular opinion right now, I know. I’m braced for the downvotes…
Let me say first that I completely understand the outrage. I am a customer of Ledger myself and am extremely disappointed with what happened. Did Ledger fuck up? Yes. Should they be given a free pass? Nope. Is the anger and loss of trust justified? Absolutely. Should we encourage a boycott and pray that they fail as a company? I personally don’t think so.
Despite the data breach, the fact remains that the product itself is solid. They are among the top 3 hardware wallets for a good reason. Their technology works. It’s well designed and easy to use. If they were to become bankrupt, I think it would overall be a net negative to the bitcoin community. I wouldn’t say that their wallets are the best choice for everyone, but they fill a niche and raise the bar in certain areas that their competitors must try to match and exceed.
I’m also willing to bet that this cold splash of water will force them to go overboard on their security, and would be surprised if they had another fuck up at this scale in the future. I’m sure they know that if they don’t demonstrate that they have taken steps to fix their issues, the public will never trust them again.
This breach is going to be a stain on their history for a long time. Any time someone asks for a hardware wallet recommendation, this breach will always be brought up. But anyone who buys a Ledger going forward will still benefit from their technology and any improved iterations.
I know many will strongly disagree with this opinion, which I understand and respect. This is likely to result in a significant amount of crypto assets being stolen. Your anonymity has been violated, and some of you are now concerned about being a target of a physical attack. I get it. It isn’t good. Still, I just wanted to throw another perspective out there and see if anyone else agrees that maybe we should hold off on grabbing our torches and pitchforks for a bit.
Above all, let’s all do our part to strengthen our community by educating newcomers on how to avoid becoming victims of these scams.