Coldcard Dicerolls: Verification Report
I spent a lot of time today verifying the Coldcard Diceroll seed path in multiple firmware versions. The implementation is correct and can generate up to 256 bits of entropy with 100 dice rolls.
Full report below.
https://t.co/XX5wzMfxG4
Here is our blog post.
- Section 1 is for Liana users, and anyone interested in "game theory" of descriptors and Miniscript/Taproot/Segwit.
- From section 2 its our Post-Mortem of Coldcard.
TLDR: It's worse than you think. Even users who have a safe mnemonic (dice rolls) have BROKEN FEATURES on their Coldcard.
https://t.co/9V9slwWxTj
COLDCARD Mk3 Security Advisory
If you generated a seed on a Mk3 after firmware 4.0.1, your funds may be at risk.
Mk4, Q and Mk5 are not affected based on our early analysis.
Read the advisory and migrate carefully:
https://t.co/3vgPHOjMS7
1/ Earlier today, our Bitcoin engineering and security teams at Block began investigating reports of non-Bitkey wallets being drained. To proactively protect our customers, we began investigating immediately. Here’s what we found 🧵
Long one. The Giant Con:
I can’t think of anything more evil than money printing. Since 2008 the economy has exploded higher on paper in the markets.
The SPX bottomed at 666 in 2009 and it now sits at 7500. Absolute insane gains like we’ve never seen before. Most of this has been a result of the money printer and excessive government spending.
What many people are starting to realize is higher stock markets do not mean things are better as a whole.
Ask yourself:
Have things significantly improved for you in the past 18 years?
Do you feel wealthier or poorer since then? I think 80-90% of the country would say they feel worse off even if their 401k’s are up a lot.
The reality is life is becoming more expensive than your 3% annual raise and a bump in your 401k every year.
All money printing does is hide the losses and increase our cost of living. QE/money printing was the most destructive thing we’ve ever done to this country.
It’s enriched a few people at the expense of everyone else and its lead us down a dark path as a society.
Nothing is ever marked to market and the economy isn’t ever allowed to experience any pain.
We just print money to solve all of our problems. The problem with this is no lessons are ever learned.
If most large companies regarded as “too big to fail”they will take greater risks to increase profits in order to enrich themselves.
None of them ever fail. They are just bailed out. AI firms want a bailout now before they’ve even failed. It’s complete insanity.
The reality is the only way any of us grow is through failure. The largest lessons I’ve ever learned in life were failing and preserving through hard times.
You fall down and then you get back up and you are a stronger person because of it.
Today we don’t allow people to fail. We just print money if you are a loser the government turns you into a winner if you are big enough.
We’ve gotten lazy.
Everyone gets a lollipop and 15% in stock gains added to their 401k every year.
Unfortunately life doesn’t work this way long term. IMO we are headed to a nasty day of reckoning.
We’ve become way too soft as a society. People feel entitled and have never experienced failure before. They think this is how life works. 18 years of fake prosperity will do this to you.
IMO Life tends to be cyclical including the markets. We need some tough times before the next great bull market.
The 1% is trying to fight this via money printing but once the wealth disparity gets too insane I think they’ll fail.
People will just vote in socialists to even things out. You can already see it starting to happen. It started with Mamdani and now it’s gaining momentum.
It’ll be “tax the rich” for awhile.
I’m not a big fan of socialism of course but greed eventually corrupts and kills everything in its path.
The money printing is just the endgame before the reset.
The bottom line:
Extend and pretend can only go on for so long. I have no clue when it ends but I suspect it’s sooner rather than later.
Stocks don’t always go up and you will have some failures in life. That’s how it works.
The good news is you’ll be a better person because of it.
My entire AI stack is now Chinese 🇨🇳
87% cheaper. same revenue
swaps by task:
1. reasoning / backend brain
Opus 4.8 → Kimi K2.7
benchmark gap: ~8% · price: ~11x cheaper
2. code generation
GPT-5.5 → Qwen 3.7 Max
benchmark gap: ~18% · price: ~7x cheaper
3. agent loops + tool calling
Sonnet 4.7 → GLM 5.2
benchmark gap: ~3% · price: ~5x cheaper on input
4. cheap volume / bulk processing
GPT-5.5 mini → MiMo V2.5
benchmark gap: ~6% · price: ~12x cheaper
5. image generation
GPT-Image-2 → Wan 2.5
benchmark gap: ~5% · price: ~8x cheaper
6. video generation
Sora 2 → Kling 3.0
benchmark gap: roughly equal · price: ~6x cheaper
[ result after 30 days: ]
operating costs dropped 87%, output quality dropped 4% on average, revenue unchanged
the most important that these models will be not banned in a month and i can run them locally
nobody will steal my data and i can learn them as i need
full article drops tomorrow with:
> exact routing logic per task type
> the 2 cases where I still pay for American
> the migration playbook anyone can copy in a weekend
VERY IMPORTANT to get migrated now, while it's not too late
we're making @blocks smaller today. here's my note to the company.
####
today we're making one of the hardest decisions in the history of our company: we're reducing our organization by nearly half, from over 10,000 people to just under 6,000. that means over 4,000 of you are being asked to leave or entering into consultation. i'll be straight about what's happening, why, and what it means for everyone.
first off, if you're one of the people affected, you'll receive your salary for 20 weeks + 1 week per year of tenure, equity vested through the end of may, 6 months of health care, your corporate devices, and $5,000 to put toward whatever you need to help you in this transition (if you’re outside the U.S. you’ll receive similar support but exact details are going to vary based on local requirements). i want you to know that before anything else. everyone will be notified today, whether you're being asked to leave, entering consultation, or asked to stay.
we're not making this decision because we're in trouble. our business is strong. gross profit continues to grow, we continue to serve more and more customers, and profitability is improving. but something has changed. we're already seeing that the intelligence tools we’re creating and using, paired with smaller and flatter teams, are enabling a new way of working which fundamentally changes what it means to build and run a company. and that's accelerating rapidly.
i had two options: cut gradually over months or years as this shift plays out, or be honest about where we are and act on it now. i chose the latter. repeated rounds of cuts are destructive to morale, to focus, and to the trust that customers and shareholders place in our ability to lead. i'd rather take a hard, clear action now and build from a position we believe in than manage a slow reduction of people toward the same outcome. a smaller company also gives us the space to grow our business the right way, on our own terms, instead of constantly reacting to market pressures.
a decision at this scale carries risk. but so does standing still. we've done a full review to determine the roles and people we require to reliably grow the business from here, and we've pressure-tested those decisions from multiple angles. i accept that we may have gotten some of them wrong, and we've built in flexibility to account for that, and do the right thing for our customers.
we're not going to just disappear people from slack and email and pretend they were never here. communication channels will stay open through thursday evening (pacific) so everyone can say goodbye properly, and share whatever you wish. i'll also be hosting a live video session to thank everyone at 3:35pm pacific. i know doing it this way might feel awkward. i'd rather it feel awkward and human than efficient and cold.
to those of you leaving…i’m grateful for you, and i’m sorry to put you through this. you built what this company is today. that's a fact that i'll honor forever. this decision is not a reflection of what you contributed. you will be a great contributor to any organization going forward.
to those staying…i made this decision, and i'll own it. what i'm asking of you is to build with me. we're going to build this company with intelligence at the core of everything we do. how we work, how we create, how we serve our customers. our customers will feel this shift too, and we're going to help them navigate it: towards a future where they can build their own features directly, composed of our capabilities and served through our interfaces. that's what i'm focused on now. expect a note from me tomorrow.
jack