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The Bitcoin Way Podcast

Coldcard's NVK Was Obsessed With Attacking Us | Seedsigner Founder

9/9/2026 · 69 min · transcript via mlx

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Key topics

The ColdCard entropy bug exposed a years-long flaw in their random number generation that resulted in weak private keys (around 30 bits instead of 128 bits) for users who did not add dice rolls or passphrases.

SeedSigner's intentional design philosophy emphasizes statelessness, air-gapped QR signing, and user-provided entropy (dice rolls, BIP39 lottery, or camera input) to minimize trust requirements compared to traditional hardware wallets.

NVK of CoinKite engaged in prolonged public criticism of SeedSigner, particularly targeting the SeedQR feature and Raspberry Pi firmware vulnerabilities, while simultaneously registering domain squats (seedsigner.edu, .net, .store, .fail) that redirected to ColdCard promotional content.

SeedSigner is a volunteer open-source project, not a company; Seed sold kits and assembled units through a separate commercial entity to meet demand after the ColdCard incident without compromising the DIY ethos.

Four separate OpenSats funding applications for SeedSigner were rejected while Seed was on the board; NVK has since stepped down from OpenSats, following separate allegations of withholding grants to silence critics like JB55.

DIY self-custody and multi-sig setup with multiple vendors offers superior security posture compared to cloud-connected "easy button" solutions like BitKey, which paradoxically gained attention after ColdCard as an incorrect lesson from the incident.

Market & price signals

None discussed.

Actionable insights

Build a SeedSigner yourself or acquire one assembled from a trusted local Bitcoin community member; the act of learning the assembly and key generation process dramatically improves your understanding of private keys, entropy, and recovery procedures, giving you genuine confidence in your cold storage setup.

Use multi-vendor multi-sig as the security pinnacle: a single SeedSigner can manage an entire multisig quorum, but geographic distribution across different hardware and software profiles (ColdCard, Trezor, Foundation, SeedSigner) eliminates single-device failure as a critical risk.

Reject "trust harder" solutions that obscure complexity behind cloud connectivity and encrypted key storage; instead, maintain direct physical control and knowledge of your offline keys' location, which provides both greater security and genuine peace of mind during emergencies.

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