Can someone explain to me why anyone would even use a brain wallet? They seem like the least secure wallet out there, what would be the advantage?
Portability. Immunity from hardware failures.
Topic: 50 BTC lost because of blank passphrase - page 3. (Read 8263 times)
legendary
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Core dev leaves me neg feedback #abuse #political
Portability. Immunity from hardware failures.
maybe someone created a brainwallet but it had the mistake not to create it with ha passphrase
Madness. To send any coins to a Brainwallet without being thoroughly satisfied with the way in which the keys have been generated is madness.
Painful for the former owner(s) of the coins, and a job well done to the opportunist recipient.
And lucky thief is this: https://blockchain.info/address/1A6Ei5cRfDJ8jjhwxfzLJph8B9ZEthR9Z
I wonder why the other "double spenders" didn't pay more tx fee? They would have more chance to claim it..
I wonder why the other "double spenders" didn't pay more tx fee? They would have more chance to claim it..
Can someone explain to me why anyone would even use a brain wallet? They seem like the least secure wallet out there, what would be the advantage?
There's only 1 advantage: "Easy to remember the priv key".But it's the most vulnerable part of it.
If you can remember it easily then someone else can hack/guess it easily.
Mmm no. Do you understand what I mean when I say you can verify the amount of entropy? And, also do you even diceware?
Can someone explain to me why anyone would even use a brain wallet? They seem like the least secure wallet out there, what would be the advantage?
There's only 1 advantage: "Easy to remember the priv key".But it's the most vulnerable part of it.
If you can remember it easily then someone else can hack/guess it easily.
Can someone explain to me why anyone would even use a brain wallet? They seem like the least secure wallet out there, what would be the advantage?
How would one guess a random 15 word string, the words only ever input on an offline computer.
It's possible (likely?) if you don't use a system that generates true randomness - like diceware.
Can someone explain to me why anyone would even use a brain wallet? They seem like the least secure wallet out there, what would be the advantage?
How would one guess a random 15 word string, the words only ever input on an offline computer.
Can someone explain to me why anyone would even use a brain wallet? They seem like the least secure wallet out there, what would be the advantage?
Read this:
http://www.contravex.com/2014/03/14/on-making-high-entropy-bitcoin-paper-wallets/
He goes the extra step and actually prints the wallet out (with the private key), so memorizing the passphrase isn't necessary, but it is the steps he takes in generating the address in the first place that are important.
Can someone explain to me why anyone would even use a brain wallet? They seem like the least secure wallet out there, what would be the advantage?
maybe someone created a brainwallet but it had the mistake not to create it with ha passphrase
There are bots and hackers sending those bots inspecting around finding for gaps to get in and steal your BTC. Never leave a wallet without strong encryption, lesson learned the hard way. You didn't deserve 50 BTC being lost tho, thats too much money.
Encryption is irrelevant if you aren't using an adequate amount of entropy.
I was under the impression there are bots out there dedicated to scanning for obvious brain wallets. That's the most obvious one of all by the sounds of it. Goodnight, sweet coins.
There are bots which scans famous quotes, bible quotes, song lyrics, everything a person can think of plus small mutations. I feel sorry for anyone who lost coins this way. Any brainwallet generated from phrases just aren't safe, people have to learn their lesson the hard way.
Thats why I would never, ever store my main stack within something that can be generated out of thin air. There's no way im ever moving my coins from my local offline hardware unless I want to have spare BTC on my mycellium wallet. Brainwallet sounds good but better stay a paranoid and go good ol offline.
How exactly do you think your "offline addresses" are generated? Do you audit the RNGs of the address generators you use?
Generating the proper amount of entropy for a brainwallet is trivial and verifiable and by their very definition, brainwallets are generated and stored offline.
what about adding a future like that in the client? could in theory the client say to you if you're sending to an address on which the transaction has suffered from a double spend, the same thing you see on the blockchain, in red
Let us ask developers to put in client and publish on web the list of compromised addresses with their private keys. 
It was a well known brain wallet address, either it was a mistake or done on purpose. If it was a mistake I feel sorry for the person, but sending that large amounts you would double check everything before you sent.
Yeah I think so.Double check is important, but a lot of people is lazy.. They don't want to check it and they lost their btc
what about adding a future like that in the client? could in theory the client say to you if you're sending to an address on which the transaction has suffered from a double spend, the same thing you see on the blockchain, in red
There are bots and hackers sending those bots inspecting around finding for gaps to get in and steal your BTC. Never leave a wallet without strong encryption, lesson learned the hard way. You didn't deserve 50 BTC being lost tho, thats too much money.
4 bots attempted to clean it out:
https://blockchain.info/tx-index/96343089
https://blockchain.info/tx-index/96341462
https://blockchain.info/tx-index/96344575
https://blockchain.info/tx-index/96343087
https://blockchain.info/tx-index/96343089
https://blockchain.info/tx-index/96341462
https://blockchain.info/tx-index/96344575
https://blockchain.info/tx-index/96343087
You should say "at least 4 bots attempted to clean it out".
bc.i does not show all conflicting transactions
It was a well known brain wallet address, either it was a mistake or done on purpose. If it was a mistake I feel sorry for the person, but sending that large amounts you would double check everything before you sent.
Yeah I think so.Double check is important, but a lot of people is lazy.. They don't want to check it and they lost their btc
So was sending it to the empty string wallet a double spend or was the transaction out of the wallet a double spend?
Of course the transaction out of the wallet is double spend.
So was sending it to the empty string wallet a double spend or was the transaction out of the wallet a double spend?
Oh bummer 
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