Also, I was considering modifying bitaddress's brain wallet generation function to create an arbitrary sized wallet rather than a single address.
So brainWallet(seed) -> address right now
I was considering doing something like:
brainWallet(seed + '2') -> address2
brainWallet(seed + '3') -> address3
brainWallet(seed + '4') -> address4
...
brainWallet(seed + 'n') -> addressn
To generate any number of addresses based on a seed. You would be able to set the starting index as well as the number of addresses you would like. The starting index is so that you can use the batches of addresses on different services that you run, but still have a single brain wallet.
Does anyone see a problem with the above scheme? Does anyone know how electrum does it?
bitaddress uses SHA256(passphrase). Which is supported by mtgox and block chain.info
Sounds like Electrums method is safer because it starts with a random seed.
However, knowledge of the algorithm is only available in the Electrum source.
The info posted about Electrums algorithm is interesting.
I think brainWallet(passphrase + n) is as safe as putting all your money in a single brain wallet but it offers more privacy by having more addresses for use. I plan to add this to the paper wallet after I finish the art wallet addition to the paper wallet tab.