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What I want: A hardware wallet that I don't need to trust.

That wallet will hold one out of three keys in a 2-of-3 multisig scheme. The other two parties will be a paper wallet I create, and a password that I choose.

Now, I can store the paper wallet in a safe, and use the hardware wallet + password in my day to day life. If I forget the password, I can recover using hardware + paper. If I lose the wallet, I can recover using paper + password (paper is stored in multiple bank vaults).

At any point in this process, an evil hardware wallet maker cannot steal my bitcoins.

Do any of the hardware wallet projects plan to support such a scheme?

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    This isn't exactly what you want, but it's close:

    The Case hardware wallet uses 2-of-3 multisig, where one key is on the device, one is on Case servers, and the third recovery key has two options: Self-storage or Vault storage through Third Key Solutions (invisible to the customer). If you choose the self-storage option, you provide an xpub key during initial setup, and the multisig wallet will use that as the third key.

    In that scheme you would have signing control of 2 of the 3 keys. There is still the human trust element where Case servers are necessary to perform the transactions, but they cannot sign any transactions not initiated by the user.

    Full disclosure: I work at Case.

    • As I mentioned, I work at Case. I tried to word this as non-advertisey as possible, please let me know if I should make any edits. – JohnDvorak Oct 6 '15 at 12:47

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