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1Ton

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  1. This is exactly what I did 2 months ago after I sent back to Amazon a Sandisk Extreme Pro 3.1 USB stick that I did not completely wipe 100% (I thought I did, but it turns out I did not) so that my deleted files (which included my 24 word seed) can not be recovered by any software. I transferred everything to the exchange Kraken, created a new 24 word seed on my Ledger Nano, and then sent everything back to my Ledger Nano. I now keep my 24 word seed backed up on two separate Samsung and Crucial solid state USB sticks inside an encrypted file that has AES(Twofish, Serpent) encryption and uses the SHA-512 hash algorithm. My AES(Twofish, Serpent) encrypted file is protected by a complex 64 character password, a PIN code, and several files that are also needed to open my encrypted file that contains my 24 word seed. I used the software VeraCrypt (https://www.veracrypt.fr) to create the encrypted file that holds my 24 word seed. Here is one of my solid state USB sticks that contains the AES(Twofish, Serpent) encrypted file that has my 24 word seed. Inside the USB stick enclosure case is a Crucial MX500 M.2 SATA solid state drive: If I need to decrypt and view the file that contains my 24 word seed, I do it on a permanently offline computer that never connects to the internet.
  2. Why would I be crapping my pants when even if something did go wrong during the update process I could just reset the device, try updating it again, and then restore my wallet using my 24 word seed? Buying a new device makes no sense whatsoever when the person already has a perfectly working Ledger Nano in their possession. What you are saying makes no sense and is completely irrational. Anyone experiencing trouble updating to the latest Ledger Nano firmware version can use the repair tool that is available in the Ledger Live desktop software application (version 1.3.2 and upwards). Instructions on how to do so can be found here: https://www.reddit.com/r/ledgerwallet/comments/aiqtkf/updated_firmware_update_repair_tool_available_in/. Even if someone was to take your advice and unnecessarily went and bought a new Ledger Nano, there is no guarantee that the new device will come with the latest firmware already installed on it. Mine didn't and I had to update it.
  3. The Ledger Nano 1.5.5 is a necessary update as far as I am concerned. It fixes an issue where a malicious wallet app could empty all the funds from every bitcoin address on your Ledger Nano that contains funds. Ledger has updated the bitcoin app to version 1.3.4 and issued the 1.5.5 firmware update to fix this vulnerability. This bug most likely also affects other cryptocurrency apps that you have on your Ledger Nano that are based on the bitcoin app. There is a way to update just the bitcoin app to fix this issue without updating to the latest firmware, but I don't recommend do that. Ledger says that "firmware version 1.5.5 includes security improvements and additional functionality for the Ledger Nano S." More info about this vulnerability here: https://sergeylappo.github.io/ledger-hack
  4. Thanks for the detailed explanation. You do not need to mine Callisto, you can just buy Callisto from an exchange such as https://www.stex.com. I use https://wallet.callisto.network to stake my Callisto. I use a Ledger Nano S to do the staking and retrieving of my Callisto staking reward. Full tutorial on how to stake Callisto with a Ledger Nano S can be found here: https://forum.callisto.network/t/how-to-stake-with-your-ledger-nano-s/317. I took a look at the Celsius app - looks very interesting. I own a large amount of XRP and I'm very paranoid about losing my XRP holdings, so I will not use any apps to earn interest on my XRP holdings. I need to retain 100% control of my XRP wallet addresses and private keys. I bought a very large amount of Callisto for a cheap enough price that I am willing to take the risk in staking them and losing my Callisto investment. But I will not take that sort of risk with my XRP holdings.
  5. @Tinyaccount I think this is the post @dr_ed made (it's on page 4 of this thread) that @Roaring_Twenties is referring to: I assume @dr_ed is staking either his VeChain (VET) or NEXO tokens to earn dividends on his staking balance. He then uses the dividends he has earned to buy more XRP. Other cryptocurrency coins such as Callisto, allow you to cold stake your Callisto tokens and earn interest on your staking balance (current monthly interest rate is 3.7%). And then with the interest you have earned you could buy more XRP - which is what I do.
  6. That is not the correct quote. The correct quote is: At Swell, Santander Head of Innovation Ed Metzger said the bank’s vision in the integration of Ripple is to utilize xCurrent, Ripple’s enterprise blockchain, to improve the lives of its customers. As you can see from the correct quote I posted above, XRP is not mentioned at all. Santander's One Pay FX service currently uses xCurrent, not XRP.
  7. @Crypto_Knight What is your opinion on the Bitcoin ETF decision being made by the SEC tomorrow? Do you think the SEC will approve the Bitcoin ETF or decline it?
  8. The CEO of SBI Holdings did not say he expects XRP to reach $10 by the end of the year. All he did was retweet an article that predicted XRP will reach $10 by the end of 2018.
  9. I'm in the same boat. I'm in the red with my XRP investment. I could buy much more XRP this very minute and bring my average cost down to $0.46, but I won't. I already own quite a substantial amount of XRP and will be holding for at least 10 years or until XRP reaches $300+.
  10. The Ledger Live application contains far too many bugs. Clearly the application was not tested thoroughly by Ledger before releasing it to the public. I'm getting the following error message when I try and add my XRP account: "Something went wrong during synchronization. Please try again." Apparently I am getting this error because my XRP wallet address has a ALV token trustline assigned to it. There are several other issues I have also encountered. The application is not fit for use in its current state.
  11. I believe the possibility of that happening on my phone is non existent as my Android phone is not rooted. The hacker will also need to have physical access to my phone and will also need my phone's unlock PIN code. The hacker will also need my account username and extremely long and very complicated log in password which I do not store on my phone.
  12. So how did the hacker gain access to your account if you had 2-step authentication enabled? In my Kraken trading account, I have 2-step authentication turned on for everything (for logging in, trading, depositing funds, withdrawing funds, etc). I also have the settings in my Kraken trading account locked. So even if a hacker somehow managed to log in to my account, the hacker would need a master code to unlock my locked settings. Every section (trading, funds, settings, etc) in my Kraken trading account has its own individual 2-step code. All four 2-step authentication codes for my Kraken account change every 30 seconds. Also, I do not keep any cryptocurrencies I purchase on any exchanges and I only use a Ledger Nano S hardware wallet to access the cryptos in my wallet addresses. I never expose my private keys. I either use my ledger Nano S or sign all my crypto transactions on a permanently offline computer.
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