Mycelium has announced that their frauduct known as Entropy will begin shipping out to customers as of this coming Monday. Mycelium's Entropy, which was Indiegogo'd to the tune of $31,271 back in June through August last year, was originally slated to ship in October of 2014 but was delayed due to manufacturing issues as well as a decision to change the design of the case.
Sold under the pretence of being the safest way to generate a paper wallet, pre-orders for the first batch of units quickly sold out. The Indiegogo page for Entropy describes the unit as:
..a small USB device with a single purpose: Making it easy to create Bitcoin paper wallets in a secure controlled environment.
Paper wallets are created in 3 simple steps:
Insert Mycelium Entropy into a printer that allows you to print pictures from a USB flash drive.
Select the print option on the printer.
There is no step 3.
This way the paper wallet has never touched a computer or a network, and as soon as you eject the device the private key is wiped from memory.
Mycelium Entropy is the easiest and most secure way of creating a paper wallet for offline cold storage.
Putting to one side criticism of the device by people who know better, it's common knowledge that modern printers are capable of saving a copy of the print jobs made by its users, rendering the promise by Mycelium that the private key Entropy generates will be wiped from memory a worthless one. Also, modern printers often ship with bluetooth and/or wireless connectivity and can often be found connected to the Internet with or without the owner's knowledge and/or consent.
These two things are of particular concern because Entropy is aimed at new users1 who are more than likely to be unaware of the problems their printer poses to the security of their private keys, even should they ensure the destruction of the printer.
A second batch of devices is expected to begin shipping later this year in April.
Muh mass adoption! ↩